16300 State Highway 305 NE #50 · Suquamish, WA 98370

$119,900

3 bd · 2.0 ba · 1,440 sqft · Manufactured · 144 Days on market

Built 1978 Good condition $83/sqft · at area comps Est $126k · at est.

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +9.7/15.0
• Schools +5.4/10.0
• Condition / age +3.8/5.0
• Livability +3.5/5.0
• Rent growth +2.7/5.0
• Appreciation +0.0/10.0

Listing remarks

MOTIVATED SELLER – HUGE PRICE ADJUSTMENT!! Enjoy senior living in this 3-bedroom, 2-bath home! Over $50,000 in improvements within the last 2 years; New roof, heat pump, furnace, water heater, oven, fresh paint inside & out, carpet, lighting and 10'x12' Tuff shed. Light filled spacious living area, dining room connected to a large kitchen, and a cozy family room with a wood stove. The roomy primary bedroom offers two closets and a bathroom with a walk-in shower & 2 vanities. Outside features a covered deck, raised garden beds, 24 rose bushes, extra wood for stove and plenty of space for gardening. Cedar Glen offers community activities; bingo, cook offs & more! Conve

Key facts

• Fresh paint
• Heat pump
• Water heater

Tags

• NEW ROOF
• HEAT PUMP
• FURNACE
• WATER HEATER
• FRESH PAINT
• LARGE SHED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $120k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#262 in WA) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A-, schools 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.
• Market conditions: Rents flat; 265 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $829 of loan paydown is wiped out by about $4k 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 $34k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 144 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $50k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $105,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 144 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — 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: 2.32% ✓
• Cap rate: 20.01%
• Cash-on-cash: 49.00%
• DSCR: 3.18
• GRM: 3.6

CMA / ARV

• ARV (median comp): $125,984
• List price: $119,900
• Delta: -4.83%
• Verdict: FAIR
• Comps: 8 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16300 NE State Highway 305 #10	0.00mi	2/2.0 (-1)	1,368 (-5%)	2mo	$170,000	$124	85
16300 State Highway 305 NE #22	0.07mi	3/2.0	1,344 (-7%)	3mo	$75,000	$56	83
16300 State Hwy 305 NE #75	0.00mi	2/2.0 (-1)	1,344 (-7%)	5mo	$40,000	$30	80
16300 State Hwy 305 NE #80	0.01mi	2/2.0 (-1)	1,344 (-7%)	11mo	$125,000	$93	74
16300 NE State Highway 305 #52	0.00mi	2/2.0 (-1)	1,400 (-3%)	21mo	$189,000	$135	72
16300 State Highway 305 NE #77	0.02mi	3/2.0	1,560 (+8%)	20mo	$75,000	$48	68
16300 NE State Hwy 305 #18	0.00mi	2/2.0 (-1)	1,260 (-12%)	10mo	$185,000	$147	66
16300 NE State Highway 305 #71	0.01mi	2/2.0 (-1)	1,276 (-11%)	12mo	$142,500	$112	66
16300 State Highway 305 #82	0.01mi	2/2.0 (-1)	1,288 (-11%)	20mo	$95,000	$74	60
16300 State Route 305 NE #78	0.08mi	2/2.0 (-1)	1,240 (-14%)	12mo	$79,900	$64	58
16300 State Highway 305 NE #11	0.00mi	2/1.0 (-1)	1,234 (-14%)	23mo	$42,000	$34	48

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: 44.0%
• Equity multiple: 2.84×
• Total profit: $61,660
• Equity at exit: $17,877

10-year hold

• IRR: 48.9%
• Equity multiple: 5.22×
• Total profit: $141,718
• Equity at exit: $10,367

Cash invested: $33,572 (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 98370

• Rents YoY: 0.7%
• Active inventory: 265
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $2,784 medium
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,798/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$585
• Net cashflow: $1,371

Break-even live

Break-even rent $1,049

Max offer price $119,900

Occupancy floor 46%

Sensitivity live

Price	-10% $1,454	-5% $1,412	+0% $1,371	+5% $1,330	+10% $1,288
Rent	-10% $1,151	-5% $1,261	+0% $1,371	+5% $1,481	+10% $1,591
Rate	-1.0pp $1,431	-0.5pp $1,401	base $1,371	+0.5pp $1,340	+1.0pp $1,308

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4005 NE Kedros Dr Poulsbo, WA	3.0	2.0	1200	$2,850	$2.38	14d	1	1.40mi

Listing history 25 events

1. 2026-06-19
   price $119,900 Active 144 DOM
2. 2026-06-18
   days on market $135,000 Active 144 DOM
3. 2026-06-17
   days on market $135,000 Active 143 DOM
4. 2026-06-16
   days on market $135,000 Active 142 DOM
5. 2026-06-15
   days on market $135,000 Active 141 DOM
6. 2026-06-14
   days on market $135,000 Active 139 DOM
7. 2026-06-13
   days on market $135,000 Active 138 DOM
8. 2026-06-10
   days on market $135,000 Active 136 DOM
9. 2026-06-09
   days on market $135,000 Active 135 DOM
10. 2026-06-08
    days on market $135,000 Active 134 DOM
11. 2026-06-07
    days on market $135,000 Active 133 DOM
12. 2026-06-02
    days on market $135,000 Active 128 DOM
13. 2026-06-01
    days on market $135,000 Active 127 DOM
14. 2026-05-31
    days on market $135,000 Active 126 DOM
15. 2026-05-30
    days on market $135,000 Active 125 DOM
16. 2026-05-12
    price $135,000
17. 2026-04-05
    status Active
18. 2026-03-22
    status Pending
19. 2026-01-27
    price $149,900
20. 2026-01-11
    listed $169,900 Active
21. 2023-06-23
    soldstatus $115,000 Closed
22. 2023-05-26
    status Pending
23. 2023-05-08
    status Active
24. 2023-05-07
    status Pending
25. 2023-05-03
    listed $115,000 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 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: $33,412
• − Mortgage interest: −$6,716
• − Property taxes: −$1,798
• − Insurance: −$600
• − Repairs & maintenance: −$2,673
• − Management: −$2,673
• − Depreciation: −$3,488
• Taxable income: $15,463
• Est. tax owed @ 24.0%: −$3,711
• After-tax cash flow: $12,741/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 · 12 photos

Good 75/100 Cosmetic rehab

This mobile home is in good condition with recent improvements, offering a move-in-ready living space with potential for further updates to enhance its value.

Value-add opportunities

• Both paint interior walls — fresh paint enhances curb appeal and interior aesthetics
• Both update flooring in kitchen — hardwood flooring is more durable and visually appealing
• Both update kitchen cabinets — newer cabinets would improve the kitchen's appearance and functionality

Renovation cost estimate screening

Value-add ROI direction

• Both paint interior walls — fresh paint enhances curb appeal and interior aesthetics ↑
• Both update flooring in kitchen — hardwood flooring is more durable and visually appealing ↑
• Both update kitchen cabinets — newer cabinets would improve the kitchen's appearance and functionality ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

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 · 243,099 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: 904.0

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 (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%

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

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

+17.4% since first listed

10 events — show timeline

• 2026-05-12 Price Changed $135,000 NWMLS as Distributed by MLS Grid
• 2026-04-05 Relisted — NWMLS as Distributed by MLS Grid
• 2026-03-22 Pending — NWMLS as Distributed by MLS Grid
• 2026-01-27 Price Changed $149,900 NWMLS as Distributed by MLS Grid
• 2026-01-11 Listed $169,900 NWMLS as Distributed by MLS Grid
• 2023-06-23 Sold (MLS) $115,000 NWMLS as Distributed by MLS Grid
• 2023-05-26 Pending — NWMLS as Distributed by MLS Grid
• 2023-05-08 Relisted — NWMLS as Distributed by MLS Grid
• 2023-05-07 Pending — NWMLS as Distributed by MLS Grid
• 2023-05-03 Listed $115,000 NWMLS as Distributed by MLS Grid