5673 BETHEL Rd SE Unit 17A · Bethel, WA 98367

$33,000

2 bd · 1.0 ba · 784 sqft · Manufactured · 51 Days on market

Built 1976 840 sqft lot $42/sqft · 58% below area ↓ 34% since listing

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• Schools +5.2/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.4/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This charming 784 square foot home offers two cozy bedrooms and one beautiful, updated bathroom, nestled on a peaceful corner lot in an all-ages park. The owner has meticulously replaced all flooring and freshly painted the interior, with new light fixtures currently being added. Stay comfortable year-round with a mini-split in the living area and primary bedroom. The bathroom boasts a custom shower and vanity top, while the oversized yard, complete with a large storage shed, invites endless gardening and outdoor fun. Plus, you're just minutes from shopping, entertainment, and quick access to Highway 16. Buyer must have park approval. Applicants must have minimum 730 credit score and gross

Key facts

• Oversized yard
• Custom shower
• Corner lot

Tags

• CORNER LOT
• UPDATED BATHROOM
• CUSTOM SHOWER
• LARGE STORAGE SHED
• OVERSIZED YARD
• MINI-SPLIT

Property features AI

Finance

• Financial info: Land lease amount $765; Cash offers accepted
• HOA & community: Located in Martel Mobile Manor (mobile home park approved for sale); Monthly land lease

Exterior

• Parking: Uncovered parking
• Utilities: Public water; Electric service
• Home design: Manufactured single-wide home; One level; Residential property in a mobile home park; Centennial make
• Construction: Metal/vinyl construction; Metal roof
• Exterior features: Metal/vinyl exterior; Corner lot; Paved lot

Interior

• Bedrooms: 2 bedrooms
• Flooring: Laminate
• Bathrooms: 1 three-quarter bathroom
• Heating & cooling: Forced air heating; Electric power source; Cooling present
• Interior features: Laminate flooring; Forced air heating; Cooling present

🏷️ Possibly a rental listed for sale. The $33,000 price doesn't fit this home's estimated sale value (~$78,217) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $33k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $33k).
• Recommended offer: $32k (3.0% below list) — sets the bar for market timing.
• Cap rate 62.3% vs local median 3.6% in Bethel — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 68/100 on livability (#279 in WA) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A, crime B+; Watch: health & safety C-, cost of living D+, schools D-.
• South Kitsap School District (suburban): math 52% / reading 64% proficiency, ranked #71 of 291 in WA (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.6%/yr); 341 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 53% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 1,294 units permitted in Kitsap County in 2024 (302 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $228 of loan paydown is wiped out by about $990 of value loss. Plan a longer hold.
• Kitsap County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $9k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($32k) is reasonable based on typical stale-listing flexibility.

Recommended offer $32,010 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 6.78% ✓
• Cap rate: 62.29%
• Cash-on-cash: 200.00%
• DSCR: 9.90
• GRM: 1.2

CMA / ARV

• ARV (median comp): $78,217
• List price: $33,000
• Delta: -57.81%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5591 Bethel Rd SE #8	0.18mi	2/1.0	784 (0%)	10mo	$77,900	$99	83
2377 1/2 SE Sedgwick Rd	0.63mi	2/1.0	768 (-2%)	15mo	$500,000	$651	55

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.6% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 10.70×
• Total profit: $89,660
• Equity at exit: $4,920

10-year hold

• IRR: —
• Equity multiple: 21.79×
• Total profit: $192,104
• Equity at exit: $2,853

Cash invested: $9,240 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 28 Tenant-Leaning
• State Washington: 28 Tenant-Leaning · D+8
• County: — inherits STATE
• City: — inherits STATE

Just-cause statewide (2021); Seattle layers rent control restrictions + relocation assistance; very tenant-friendly.

Methodology + full state rankings →

ZIP-level market 98367

• Rents YoY: 1.6%
• Active inventory: 341
• Price-to-rent: 1.2×

Monthly cashflow live

• Estimated rent: $2,238 high
• Mortgage (P&I): −$173
• Tax est. 1.5%: −$41 /mo · $495/yr
• Insurance: −$14
• HOA: −$0
• Vacancy / Maint / Mgmt: −$470
• Net cashflow: $1,540

Break-even live

Break-even rent $289

Max offer price $33,000

Occupancy floor 26%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $8,250
• Closing costs: $990
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2192 SE Sedgwick Rd Port Orchard, WA	2.0	1.0–2.0	739	$2,450	$3.31	14d	22	0.50mi
1501 SE Blueberry Rd Apt 107 Port Orchard, WA	2.0	1.0	930	$2,125	$2.28	44d	1	0.86mi
1501 SE Blueberry Rd Apt 106 Port Orchard, WA	2.0	1.0	820	$2,150	$2.62	44d	1	0.86mi
1501 SE Blueberry Rd Apt 307 Port Orchard, WA	2.0	1.5	930	$2,175	$2.34	44d	1	0.86mi
1501 SE Blueberry Rd Unit 108 Port Orchard, WA	2.0	1.0	820	$2,175	$2.65	44d	1	0.86mi
1501 SE Blueberry Rd Apt 305 Port Orchard, WA	2.0	1.5	930	$2,150	$2.31	44d	1	0.86mi
1491 SE Blueberry Rd Unit 206 Port Orchard, WA	2.0	2.0	1000	$2,195	$2.19	21d	1	0.87mi
1491 SE Blueberry Rd Unit 308 Port Orchard, WA	2.0	2.0	1000	$2,295	$2.29	14d	1	0.87mi
1511 SE Blueberry Rd Unit 104 Port Orchard, WA	2.0	1.0	820	$2,150	$2.62	44d	1	0.87mi
1511 SE Blueberry Rd Unit 301 Port Orchard, WA	2.0	1.5	880	$2,175	$2.47	44d	1	0.87mi
1481 SE Blueberry Rd Port Orchard, WA	1.0–2.0	1.0–2.0	847	$2,295	$2.71	44d	11	0.89mi
4210 Eastwood Ave SE Port Orchard, WA	3.0	2.0	1008	$2,800	$2.78	21d	1	1.10mi
414 SW Hayworth Dr Port Orchard, WA	1.0–2.0	1.0–2.0	828	$1,930	$2.33	14d	6	1.24mi
4999 Sidney Rd SW Port Orchard, WA	1.0–3.0	1.0–2.0	961	$2,160	$2.25	14d	21	1.25mi
3390 Starboard Ln SE Port Orchard, WA	2.0–3.0	2.0	975	$1,995	$2.05	14d	3	1.32mi

Listing history 18 events

1. 2026-06-18
   days on market $33,000 Active 51 DOM
2. 2026-06-17
   days on market $33,000 Active 50 DOM
3. 2026-06-16
   days on market $33,000 Active 49 DOM
4. 2026-06-15
   days on market $33,000 Active 48 DOM
5. 2026-06-14
   days on market $33,000 Active 46 DOM
6. 2026-06-13
   pricedays on market $33,000 Active 45 DOM
7. 2026-06-10
   days on market $40,000 Active 43 DOM
8. 2026-06-09
   days on market $40,000 Active 42 DOM
9. 2026-06-08
   days on market $40,000 Active 41 DOM
10. 2026-06-07
    days on market $40,000 Active 40 DOM
11. 2026-06-05
    days on market $40,000 Active 37 DOM
12. 2026-06-03
    days on market $40,000 Active 36 DOM
13. 2026-06-02
    days on market $40,000 Active 35 DOM
14. 2026-06-01
    days on market $40,000 Active 34 DOM
15. 2026-05-31
    days on market $40,000 Active 33 DOM
16. 2026-05-30
    days on market $40,000 Active 32 DOM
17. 2026-05-12
    price $40,000
18. 2026-04-28
    listed $50,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥86°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 9 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,856
• − Mortgage interest: −$1,849
• − Property taxes: −$495
• − Insurance: −$165
• − Repairs & maintenance: −$2,149
• − Management: −$2,149
• − Depreciation: −$960
• Taxable income: $19,091
• Est. tax owed @ 24.0%: −$4,582
• After-tax cash flow: $13,898/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: South Kitsap School District
• NCES district ID: 5308160
• Math proficiency: 52% ▲ 2.00%
• Reading proficiency: 64% ▲ 3.00%
• Median HH income: $62,824
• Composite: 52.31/100
• National rank: #3445
• State rank: #71 of 291 in WA

Livability — Bethel

• Score: 68/100
• State rank: #279
• US rank: #9629

Category grades

Amenities F Commute F Cost of living D+ Crime B+ Employment A Housing A+ Health & safety C- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bethel, WA
• County: Kitsap County · 243,099 people
• Metro: Bremerton-Silverdale-Port Orchard, WA
• Population (ZIP): 31,756
• Household income: $115,482
• Rent vs Own: 14.8% rent · 85.2% own
• Severe rent burden: 595.0

Population outlook (Kitsap County) Hauer SSP2

• Today (2025): 277,525 people
• By 2030: 285,040 · +2.7%
• By 2040: 294,957 · +6.3%
• By 2050: 300,622 · +8.3%
• By 2075: 315,580 · +13.7%
• By 2100: 304,340 · +9.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Two or more races 11% Hispanic / Latino 7% Asian 4% Pacific Islander 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 7% Portuguese 6% Slovak 4%
• Foreign-born: 6% · Canada, South Korea, Vietnam
• Languages at home: 91% English-only · Spanish 3% Tagalog/Filipino 2% Other Asian/Pacific 2%

Political lean MEDSL · Kitsap

• 2024 margin: Strong D (+20.9) · D 58.8% · R 37.9% · Other 3.3%
• 2008→2024 swing: +8.6pp toward D · 2008: 12.3pp · 2024: 20.9pp
• All cycles: 2024: D+20.9 2020: D+18.1 2016: D+11.6 2012: D+11.1 2008: D+12.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -441.02%
• Current HPI: 351.671
• Rent YoY: ▲ 1.60%
• Metro: Bremerton-Silverdale-Port Orchard, WA
• State GDP YoY: ▲ 4.65%
• F500 in state: 22

Industry mix (Fortune 500 HQ in WA)

Industry	F500 HQs	Revenue
▸Retail	2	$269B
▸Technology / Retail	1	$638B
▸Technology	1	$245B
▸Telecommunications	1	$38B
▸Food / Beverage	1	$36B
▸Automotive / Trucks	1	$34B

Price history

-34.0% since first listed

3 events — show timeline

• 2026-06-10 Price Changed $33,000 NWMLS as Distributed by MLS Grid
• 2026-05-12 Price Changed $40,000 NWMLS as Distributed by MLS Grid
• 2026-04-28 Listed $50,000 NWMLS as Distributed by MLS Grid