16300 NE State Hwy 305 #31 · Suquamish, WA 98370

$67,500

2 bd · 1.0 ba · 864 sqft · Manufactured · 88 Days on market

Manufactured home 55+ age-restricted Built 1976 Good condition $78/sqft · 47% below area Est $127k · 47% under

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Why this score? — see what drove the C+ 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 +22.5/30.0
• ARV discount +15.0/15.0
• 1% rule +7.5/10.0
• DSCR +7.5/10.0
• Schools +5.4/10.0
• Condition / age +3.8/5.0
• Livability +3.5/5.0
• Rent growth +2.7/5.0
• Appreciation +2.5/10.0
• Manufactured-home adj. -5.6

Listing remarks

Now offering 2 months space rent which includes water, sewer, garbage, and all park amenities! Welcome to easy living in Poulsbo’s most desirable 55+ communities! Situated on a sunny corner lot in Cedar Glen, this charming 2-bedroom, .75-bath home offers comfort, convenience, wheel chair accessibility, and low-maintenance living in the heart of Kitsap County. Inside, you’ll find a light-filled layout with inviting living spaces, an efficient kitchen, and thoughtful updates throughout. The spacious yard offers room for gardening, relaxing, or enjoying peaceful mornings with coffee on the patio.

Key facts

• Spacious yard
• Clubhouse
• Bus line

Tags

• WHEEL CHAIR ACCESSIBILITY
• SPACIOUS YARD
• CLUBHOUSE
• PAVED STREETS
• BUS LINE
• COMMUNITY ATMOSPHERE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $68k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $823 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $68k).
• Recommended offer: $63k (6.0% below list) — sets the bar for market timing.
• Cap rate 20.9% vs local median 2.1% in Suquamish — 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 69/100 on livability (#262 in WA) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A-, crime B+; Watch: cost of living C-, amenities F, commute F.
• North Kitsap School District (suburban): math 53% / reading 65% proficiency, ranked #54 of 291 in WA (top 19%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Suquamish Elementary School (328 students, 52% FRL); Kingston Middle School (491 students, 49% FRL); Kingston High School (610 students, 42% FRL) — zoned schools average 48% FRL vs 26% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 373 active listings in the ZIP; high-income renter base; 1,294 units permitted in Kitsap County in 2024 (302 in 5+ unit buildings).
• This rent is only 17% of the median local income ($117k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $467 of loan paydown is wiped out by about $2k 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 + 0.7% rent growth), your $19k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 14y ago; this cycle's ask has dropped $12k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $32k; list at $68k implies a 108% gain — meaningful room to come down on a strong offer.

Recommended offer $63,450 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 2.42% ✓
• Cap rate: 20.93%
• Cash-on-cash: 52.28%
• DSCR: 3.33
• GRM: 3.4

CMA / ARV

• ARV (median comp): $127,000
• List price: $67,500
• Delta: -44.88%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16300 NE State Highway 305 #25	0.01mi	2/1.0	793 (-8%)	19mo	$55,000	$69	70
16300 NE State Highway 305 #92	0.01mi	2/2.0	1,086 (+26%)	4mo	$127,000	$117	67
16300 NE State Highway 305 #68	0.01mi	2/2.0	960 (+11%)	14mo	$75,999	$79	65
15233 NE Sunset Ave NE	1.67mi	2/1.0	784 (-9%)	5mo	$427,000	$545	46
1740 NE Pacific Ave	1.56mi	2/1.0	924 (+7%)	17mo	$315,000	$341	40
7289 NE West Port Madison Rd	2.03mi	1/1.0 (-1)	888 (+3%)	21mo	$637,000	$717	38
15627 Cove Point Ln NE	1.79mi	2/2.0	1,087 (+26%)	3mo	$1,095,000	$1,007	33
6582 NE Pear St	2.22mi	3/1.0 (+1)	1,040 (+20%)	4mo	$425,000	$409	32
6517 NE Pear St	2.17mi	2/1.0	760 (-12%)	18mo	$400,000	$526	30
14723 Kestrel Pl NE	1.82mi	3/2.0 (+1)	1,120 (+30%)	3mo	$470,000	$420	29
1725 NE Poulsbo Ave	1.54mi	2/1.5	1,056 (+22%)	14mo	$415,000	$393	26
7279 NE Manual Rd	2.19mi	3/2.0 (+1)	1,080 (+25%)	15mo	$700,000	$648	18

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 · 0.71% rent growth · sell at horizon

5-year hold

• IRR: 47.6%
• Equity multiple: 3.00×
• Total profit: $37,852
• Equity at exit: $10,064

10-year hold

• IRR: 52.3%
• Equity multiple: 5.56×
• Total profit: $86,175
• Equity at exit: $5,836

Cash invested: $18,900 (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 →

Active competition Active MLS

• For sale now: 0 active · 1 under contract

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 98370

• Rents YoY: 0.7%
• Active inventory: 373
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,633 medium
• Mortgage (P&I): −$354
• Tax est. 1.5%: −$84 /mo · $1,012/yr
• Insurance: −$28
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $823

Break-even live

Break-even rent $590

Max offer price $67,500

Occupancy floor 45%

Sensitivity live

Price	-10% $870	-5% $847	+0% $823	+5% $800	+10% $777
Rent	-10% $694	-5% $759	+0% $823	+5% $888	+10% $952
Rate	-1.0pp $857	-0.5pp $841	base $823	+0.5pp $806	+1.0pp $788

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: $16,875
• Closing costs: $2,025
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Finance

• Other: Buyer to verify schools
• Financial info: Listing terms: CashLand lease amount: $1,029
• HOA & community: Located in Cedar Glen Mobile Home Park (senior community)97 homes in the parkPark amenities include BBQs, clubhouse, common area, high-speed internet available, recreational area, RV parkingPark approved for saleLand lease applies

Exterior

• Parking: Uncovered parking
• Utilities: Electric energy sourcePublic waterPublic sewerPuget Sound Energy power
• Home design: Manufactured home (double wide)One storyModuline Gilbralter modelMobile home remains
• Construction: Metal/vinyl construction materialsTorch down roofMetal skirtingTie down foundationManufactured after 06/15/1976
• Exterior features: Metal/vinyl exteriorPatio/porch/deckCorner lotPaved

Interior

• Kitchen: DishwasherMicrowaveRefrigeratorStove/RangeKitchen with eating space
• Bedrooms: 2 bedrooms
• Flooring: Laminate flooring
• Bathrooms: One three-quarter bathroom with shower
• Heating & cooling: Forced air heating
• Interior features: Dining roomEntryKitchen with eating spaceLiving roomDishwasherMicrowaveRefrigeratorStove/RangeWasherDryer
• Laundry & utility: WasherDryer

Listing history 50 events

1. 2026-08-08
   days on market $67,500 Active 88 DOM
2. 2026-08-07
   pricedays on market $67,500 Active 87 DOM
3. 2026-08-06
   days on market $70,000 Active 86 DOM
4. 2026-08-05
   days on market $70,000 Active 85 DOM
5. 2026-08-04
   days on market $70,000 Active 84 DOM
6. 2026-08-03
   days on market $70,000 Active 83 DOM
7. 2026-07-31
   days on market $70,000 Active 80 DOM
8. 2026-07-29
   days on market $70,000 Active 78 DOM
9. 2026-07-27
   days on market $70,000 Active 76 DOM
10. 2026-07-25
    days on market $70,000 Active 74 DOM
11. 2026-07-23
    days on market $70,000 Active 72 DOM
12. 2026-07-22
    days on market $70,000 Active 71 DOM
13. 2026-07-21
    days on market $70,000 Active 70 DOM
14. 2026-07-18
    pricedays on market $70,000 Active 67 DOM
15. 2026-07-16
    days on market $75,000 Active 65 DOM
16. 2026-07-16
    days on market $75,000 Active 64 DOM
17. 2026-07-14
    days on market $75,000 Active 63 DOM
18. 2026-07-13
    days on market $75,000 Active 62 DOM
19. 2026-07-12
    days on market $75,000 Active 61 DOM
20. 2026-07-11
    days on market $75,000 Active 60 DOM
21. 2026-07-10
    days on market $75,000 Active 59 DOM
22. 2026-07-09
    days on market $75,000 Active 58 DOM
23. 2026-07-08
    days on market $75,000 Active 57 DOM
24. 2026-07-07
    days on market $75,000 Active 56 DOM
25. 2026-07-06
    days on market $75,000 Active 55 DOM
26. 2026-07-05
    days on market $75,000 Active 54 DOM
27. 2026-07-04
    days on market $75,000 Active 53 DOM
28. 2026-07-03
    days on market $75,000 Active 52 DOM
29. 2026-07-02
    days on market $75,000 Active 51 DOM
30. 2026-07-01
    days on market $75,000 Active 50 DOM
31. 2026-06-30
    days on market $75,000 Active 49 DOM
32. 2026-06-29
    days on market $75,000 Active 48 DOM
33. 2026-06-28
    days on market $75,000 Active 47 DOM
34. 2026-06-28
    days on market $75,000 Active 46 DOM
35. 2026-06-27
    days on market $75,000 Active 45 DOM
36. 2026-06-25
    days on market $75,000 Active 43 DOM
37. 2026-06-23
    days on market $75,000 Active 41 DOM
38. 2026-06-22
    days on market $75,000 Active 40 DOM
39. 2026-06-18
    days on market $75,000 Active 37 DOM
40. 2026-06-17
    days on market $75,000 Active 36 DOM
41. 2026-06-16
    days on market $75,000 Active 35 DOM
42. 2026-06-15
    days on market $75,000 Active 34 DOM
43. 2026-06-14
    days on market $75,000 Active 32 DOM
44. 2026-06-13
    pricedays on market $75,000 Active 31 DOM
45. 2026-06-10
    days on market $80,000 Active 29 DOM
46. 2026-06-09
    days on market $80,000 Active 28 DOM
47. 2026-06-08
    days on market $80,000 Active 27 DOM
48. 2026-06-07
    days on market $80,000 Active 26 DOM
49. 2026-06-02
    days on market $80,000 Active 21 DOM
50. 2026-06-01
    days on market $80,000 Active 20 DOM

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥86°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 9 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,593
• − Mortgage interest: −$3,781
• − Property taxes: −$1,012
• − Insurance: −$338
• − Repairs & maintenance: −$1,567
• − Management: −$1,567
• − Depreciation: −$1,964
• Taxable income: $9,364
• Est. tax owed @ 24.0%: −$2,247
• After-tax cash flow: $7,634/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.

Condition & rehab AI · 4 photos

Good 75/100 Cosmetic rehab Est. rehab $4,320–$12,960 screening

This manufactured home is in good condition with minimal repairs needed. It offers a good investment opportunity with potential for both resale and rental value through cosmetic updates and maintenance.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Landscaping improvements — Enhances curb appeal and value ↑
• Rental Replace HVAC filters — Improves air quality and tenant satisfaction ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

Zoned Schools

Elementary Suquamish Elementary School Middle Kingston Middle School High Kingston High School

Schools (NCES district)

• District: North Kitsap School District
• NCES district ID: 5305760
• Math proficiency: 53% ▼ -1.00%
• Reading proficiency: 65% ▲ 1.00%
• Median HH income: $68,919
• Composite: 53.68/100
• National rank: #3092
• State rank: #54 of 291 in WA

C Composite livability gradescore 69/100

Livability — Suquamish

• Score: 69/100
• State rank: #262
• US rank: #9023

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Suquamish, WA
• County: Kitsap County · 277,525 people
• City population: 3,412
• Metro: Bremerton-Silverdale-Port Orchard, WA
• Population (ZIP): 33,655
• Household income: $116,756
• Rent vs Own: 24.5% rent · 75.5% own
• Severe rent burden: 9% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Two or more races 11% Hispanic / Latino 9% Asian 3% Black 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 7% Italian 4% Slovak 3%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 93% English-only · Spanish 4% Other Indo-European 1% Other Asian/Pacific 1%

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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: ▼ -342.47%
• Current HPI: 347.3427
• Rent YoY: ▲ 0.71%
• Metro: Bremerton-Silverdale-Port Orchard, WA
• State GDP YoY: ▲ 4.65%
• F500 in state: 22

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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

Property features AI

Finance

• Other: Buyer to verify schools
• Financial info: Listing terms: CashLand lease amount: $1,029
• HOA & community: Located in Cedar Glen Mobile Home Park (senior community)97 homes in the parkPark amenities include BBQs, clubhouse, common area, high-speed internet available, recreational area, RV parkingPark approved for saleLand lease applies

Exterior

• Parking: Uncovered parking
• Utilities: Electric energy sourcePublic waterPublic sewerPuget Sound Energy power
• Home design: Manufactured home (double wide)One storyModuline Gilbralter modelMobile home remains
• Construction: Metal/vinyl construction materialsTorch down roofMetal skirtingTie down foundationManufactured after 06/15/1976
• Exterior features: Metal/vinyl exteriorPatio/porch/deckCorner lotPaved

Interior

• Kitchen: DishwasherMicrowaveRefrigeratorStove/RangeKitchen with eating space
• Bedrooms: 2 bedrooms
• Flooring: Laminate flooring
• Bathrooms: One three-quarter bathroom with shower
• Heating & cooling: Forced air heating
• Interior features: Dining roomEntryKitchen with eating spaceLiving roomDishwasherMicrowaveRefrigeratorStove/RangeWasherDryer
• Laundry & utility: WasherDryer

Price history

+172.7% since first listed

10 events — show timeline

• 2026-06-11 Price Changed $75,000 NWMLS as Distributed by MLS Grid
• 2026-05-12 Listed $80,000 NWMLS as Distributed by MLS Grid
• 2018-10-31 Sold (MLS) $32,500 NWMLS as Distributed by MLS Grid
• 2018-10-25 Pending — NWMLS as Distributed by MLS Grid
• 2018-10-12 Price Changed $39,999 NWMLS as Distributed by MLS Grid
• 2018-09-26 Listed $47,999 NWMLS as Distributed by MLS Grid
• 2013-03-01 Delisted — NWMLS as Distributed by MLS Grid
• 2013-02-28 Sold (MLS) $22,000 NWMLS as Distributed by MLS Grid
• 2013-02-05 Pending — NWMLS as Distributed by MLS Grid
• 2012-07-30 Listed $27,500 NWMLS as Distributed by MLS Grid