2115 Rocky Point Rd NW #22 · Rocky Point, WA 98312

$69,000

2 bd · 1.0 ba · 784 sqft · Manufactured · 88 Days on market

Built 1984 Good condition $88/sqft · 54% below area ↓ 1% since listing

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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 +7.5/15.0
• Condition / age +4.0/5.0
• Schools +3.9/10.0
• Livability +3.5/5.0
• Rent growth +2.6/5.0
• Appreciation +0.0/10.0

Listing remarks

This adorably remodeled 2 bedroom, 1 bath single-wide manufactured home is ready for your personal touch! Stylishly done with gray shaker cabinets in the kitchen and new countertops. Kitchen appliances stay! Vaulted ceiling in living room and kitchen with plenty of windows lends to an abundance of natural light. Updated lighting throughout the home. Come and make it your own! Welcome home!

Key facts

• Gray shaker cabinets
• Remodeled
• Kitchen appliances

Tags

• REMODELED
• GRAY SHAKER CABINETS
• NEW COUNTERTOPS
• KITCHEN APPLIANCES
• VAULTED CEILING
• NATURAL LIGHT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $69k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $999 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $69k).
• Recommended offer: $65k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#243 in WA) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: cost of living C-, schools D-, amenities F.
• Bremerton School District (urban): math 36% / reading 51% proficiency, ranked #194 of 291 in WA (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents flat; 349 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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 $477 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 + 0.3% rent growth), your $19k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($65k) is reasonable based on typical stale-listing flexibility.

Recommended offer $64,859 (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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
6. 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.
7. 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: 2.71% ✓
• Cap rate: 23.66%
• Cash-on-cash: 62.04%
• DSCR: 3.76
• GRM: 3.1

CMA / ARV

• ARV (median comp): $148,838
• List price: $69,000
• Delta: -53.64%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2115 Rocky Point Rd NW Unit 1A	0.06mi	2/2.0	860 (+10%)	15mo	$95,000	$110	65

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 · 0.28% rent growth · sell at horizon

5-year hold

• IRR: 57.8%
• Equity multiple: 3.46×
• Total profit: $47,483
• Equity at exit: $10,288

10-year hold

• IRR: 61.7%
• Equity multiple: 6.38×
• Total profit: $104,033
• Equity at exit: $5,966

Cash invested: $19,320 (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 98312

• Rents YoY: 0.3%
• Active inventory: 349
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,868 high
• Mortgage (P&I): −$362
• Tax est. 1.5%: −$86 /mo · $1,035/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $999

Break-even live

Break-even rent $604

Max offer price $69,000

Occupancy floor 42%

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1729 Rocky Point Rd NW Bremerton, WA	2.0	1.5	968	$2,200	$2.27	21d	1	0.26mi
1720 N Wycoff Ave Unit 2 Bremerton, WA	3.0	2.0	1100	$2,100	$1.91	14d	1	0.79mi
1112 Shorewood Dr Unit B Bremerton, WA	2.0	1.5	1024	$1,600	$1.56	44d	1	0.86mi
1540 N Callow Ave Apt D Bremerton, WA	2.0	1.0	682	$1,675	$2.46	14d	1	0.88mi
924 Shorewood Dr Unit B-16B-16 Bremerton, WA	2.0	1.5	965	$1,650	$1.71	21d	1	0.88mi
629 Adele Ave Unit B Bremerton, WA	2.0	1.0	960	$1,750	$1.82	44d	1	0.92mi
5670 Kitsap Way Bremerton, WA	2.0	2.0	980	$1,795	$1.83	14d	1	0.95mi
500 N National Ave Bremerton, WA	1.0–2.0	2.0–3.0	1095	$2,150	$1.96	44d	2	0.96mi
1708 Houston Ave Bremerton, WA	3.0	1.0	854	$1,750	$2.05	14d	1	0.99mi
1720 Olympic Ave Bremerton, WA	3.0	1.0	855	$2,100	$2.46	44d	1	1.08mi
1742 Anderson St Bremerton, WA	3.0	1.0	855	$1,899	$2.22	44d	1	1.10mi
4520 Bay Vista Blvd Bremerton, WA	1.0–3.0	1.0–2.0	927	$2,362	$2.55	14d	9	1.11mi
1588 Naval Ave #10 Bremerton, WA	2.0	2.0	972	$1,450	$1.49	44d	1	1.15mi
133 S Marion Ave Unit G Bremerton, WA	1.0	1.0	528	$1,275	$2.41	14d	1	1.16mi
1604 Naval Ave Bremerton, WA	2.0	2.0	1065	$1,850	$1.74	21d	2	1.18mi
2127 12th St Bremerton, WA	2.0	1.0	800	$1,595	$1.99	44d	1	1.21mi
2127 12th St Bremerton, WA	2.0	1.0	800	$1,500	$1.88	21d	1	1.21mi
2127 12th St Unit C207 Bremerton, WA	2.0	1.0	800	$1,495	$1.87	14d	1	1.21mi
2127 12th St Unit A208 Bremerton, WA	2.0	1.0	800	$1,450	$1.81	21d	1	1.21mi
114 Lebo Blvd Bremerton, WA	1.0	1.0	600	$1,450	$2.42	14d	1	1.22mi
100 N Lafayette Ave Bremerton, WA	1.0	1.0	600	$1,485	$2.48	44d	1	1.33mi
119 Elm St Unit A Bremerton WA 98310 Bremerton, WA	2.0	1.0	600	$2,000	$3.33	44d	1	1.35mi
119 Elm St Unit B Bremerton, WA 98310 Bremerton, WA	2.0	1.0	600	$2,000	$3.33	44d	1	1.35mi
2733 Hefner Ave Unit 2733 Bremerton, WA	3.0	1.0	874	$1,900	$2.17	14d	1	1.39mi
2106 7th St Bremerton, WA	2.0	2.0	1040	$2,450	$2.36	44d	1	1.39mi
113 S Cambrian Ave Bremerton, WA	1.0	1.0	540	$1,350	$2.50	44d	1	1.40mi
3431 Mathews Dr NW Bremerton, WA	1.0	1.0	1005	$1,900	$1.89	44d	1	1.45mi

Listing history 17 events

1. 2026-06-19
   status $69,000 Pending 88 DOM
2. 2026-06-18
   days on market $69,000 Active 88 DOM
3. 2026-06-17
   days on market $69,000 Active 87 DOM
4. 2026-06-16
   days on market $69,000 Active 86 DOM
5. 2026-06-15
   days on market $69,000 Active 85 DOM
6. 2026-06-14
   days on market $69,000 Active 83 DOM
7. 2026-06-13
   days on market $69,000 Active 82 DOM
8. 2026-06-10
   days on market $69,000 Active 80 DOM
9. 2026-06-09
   days on market $69,000 Active 79 DOM
10. 2026-06-08
    days on market $69,000 Active 78 DOM
11. 2026-06-07
    days on market $69,000 Active 77 DOM
12. 2026-06-02
    days on market $69,000 Active 72 DOM
13. 2026-06-01
    days on market $69,000 Active 71 DOM
14. 2026-05-31
    days on market $69,000 Active 70 DOM
15. 2026-05-30
    days on market $69,000 Active 69 DOM
16. 2026-04-18
    price $69,000
17. 2026-03-22
    listed $70,000 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 · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 10 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,414
• − Mortgage interest: −$3,865
• − Property taxes: −$1,035
• − Insurance: −$345
• − Repairs & maintenance: −$1,793
• − Management: −$1,793
• − Depreciation: −$2,007
• Taxable income: $11,576
• Est. tax owed @ 24.0%: −$2,778
• After-tax cash flow: $9,207/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 80/100 Cosmetic rehab

This remodeled 2-bedroom, 1-bath single-wide manufactured home is move-in ready with updated interiors and curb appeal. Minor updates to exterior siding and landscaping would further enhance its value.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Replace blinds in bathrooms — Improves natural light and aesthetics
• Both Install new outdoor lighting — Enhances curb appeal and safety

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Replace blinds in bathrooms — Improves natural light and aesthetics ↑
• Both Install new outdoor lighting — Enhances curb appeal and safety ↑

ⓘ 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: Bremerton School District
• NCES district ID: 5300660
• Math proficiency: 36% ▼ -3.00%
• Reading proficiency: 51% ▲ 1.00%
• Median HH income: $46,765
• Composite: 39.34/100
• National rank: #8163
• State rank: #194 of 291 in WA

Livability — Rocky Point

• Score: 70/100
• State rank: #243
• US rank: #7686

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rocky Point, WA
• County: Kitsap County · 243,099 people
• Metro: Bremerton-Silverdale-Port Orchard, WA
• Population (ZIP): 36,307
• Household income: $90,449
• Rent vs Own: 36.5% rent · 63.5% own
• Severe rent burden: 993.0

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 (68%)
• Race & ethnicity: White 68% Two or more races 13% Hispanic / Latino 12% Asian 4% Black 4% Native American 1%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Common ancestry: Italian 7% Portuguese 5% Slovak 4%
• Foreign-born: 6% · Canada, China
• Languages at home: 91% English-only · Spanish 4% Tagalog/Filipino 2% 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: ▼ -436.68%
• Current HPI: 379.2342
• Rent YoY: ▲ 0.28%
• 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

-1.4% since first listed

2 events — show timeline

• 2026-04-18 Price Changed $69,000 NWMLS as Distributed by MLS Grid
• 2026-03-22 Listed $70,000 NWMLS as Distributed by MLS Grid