290 St Granat #5 · Port Orchard, WA 98366

$65,000

2 bd · 1.0 ba · 576 sqft · Manufactured · 4 Days on market

Built 1970 Good condition 5.49 ac lot

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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
• Schools +5.2/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +2.6/5.0
• Appreciation +0.0/10.0

Listing remarks

Recently renovated 1970 Fleetwood mobile home (completely updated 2023) for sale. Sold as is no warranties with a motivated Seller. Home is located in an all-ages park, and sale is subject to park approval. Park is responsible for water, septic and garbage. Pets allowed. Park space rent is $850.00 monthly

Key facts

• 5.49 acre lot
• Parking
• Built 1970

Property features AI

Finance

• Other: Property type: Residential manufactured home; Calculated building area about 576; Located adjacent to public land
• Financial info: Cash offers only
• HOA & community: Located in a mobile home park with about 25 homes (MK Heritage Mobile Home Park LLC); Land lease: $850

Exterior

• Parking: Carport
• Utilities: Water: See remarks; Electric power
• Home design: Manufactured single-wide home (Fleetwood 52S/12); One story; Flat roof
• Construction: Wood construction
• Exterior features: Wood exterior products; Adjacent to public land

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom with bathtub and shower
• Heating & cooling: Electric energy source
• Interior features: Average condition; Mobile home remains on site

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $65k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Cap rate 25.5% vs local median 3.0% in Port Orchard — 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 79/100 on livability (#110 in WA, #2,167 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, employment A+, housing A+; Watch: crime D-, commute F, cost of living F.
• 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 flat; 251 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $449 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 $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $65,000

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-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?
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 2.90% ✓
• Cap rate: 25.49%
• Cash-on-cash: 68.55%
• DSCR: 4.05
• GRM: 2.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.35% rent growth · sell at horizon

5-year hold

• IRR: 65.0%
• Equity multiple: 3.79×
• Total profit: $50,817
• Equity at exit: $9,692

10-year hold

• IRR: 68.5%
• Equity multiple: 7.08×
• Total profit: $110,581
• Equity at exit: $5,620

Cash invested: $18,200 (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 98366

• Rents YoY: 0.3%
• Active inventory: 251
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,885 high
• Mortgage (P&I): −$341
• Tax est. 1.5%: −$81 /mo · $975/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $1,040

Break-even live

Break-even rent $569

Max offer price $65,000

Occupancy floor 40%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1800 Sidney Ave Port Orchard, WA	1.0–3.0	1.0–2.0	869	$1,904	$2.19	13d	13	0.32mi
2250 Sidney Ave Port Orchard, WA	1.0–2.0	1.0	700	$1,625	$2.32	43d	4	0.34mi
1481 SE Blueberry Rd Port Orchard, WA	1.0–2.0	1.0–2.0	847	$2,295	$2.71	43d	11	0.80mi
4999 Sidney Rd SW Port Orchard, WA	1.0–3.0	1.0–2.0	961	$2,160	$2.25	13d	21	1.06mi
2099 Jefferson Ave SE Port Orchard, WA	1.0–2.0	1.0	750	$1,705	$2.27	21d	4	1.24mi
2192 SE Sedgwick Rd Port Orchard, WA	2.0	1.0–2.0	739	$2,450	$3.31	13d	22	1.34mi
914 Taylor St E Port Orchard, WA	1.0	1.0	544	$1,750	$3.22	43d	1	1.42mi
414 SW Hayworth Dr Port Orchard, WA	1.0–2.0	1.0–2.0	828	$1,930	$2.33	13d	6	1.47mi

Listing history 5 events

1. 2026-06-18
   days on market $65,000 Active 4 DOM
2. 2026-06-17
   days on market $65,000 Active 3 DOM
3. 2026-06-16
   days on market $65,000 Active 2 DOM
4. 2026-06-15
   remarks 306-char remark
5. 2026-06-15
   listed $65,000 Active 1 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 1/10 Low
• 🌡 Heat 3/10 Moderate 6 d/yr ≥86°F today · 12 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: $22,616
• − Mortgage interest: −$3,641
• − Property taxes: −$975
• − Insurance: −$325
• − Repairs & maintenance: −$1,809
• − Management: −$1,809
• − Depreciation: −$1,891
• Taxable income: $12,165
• Est. tax owed @ 24.0%: −$2,920
• After-tax cash flow: $9,556/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 80/100 Cosmetic rehab

This recently renovated 1970 Fleetwood mobile home is in good condition with updated kitchen and bathroom. It's located in an all-ages park with no structural issues, making it a good investment opportunity.

Value-add opportunities

• Both Landscaping improvements — Enhances curb appeal and could attract more buyers/renters.
• Both Painting exterior — Fresh paint can make the home look more appealing and increase its value.
• Both Landscaping improvements — Enhances curb appeal and could attract more buyers/renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping improvements — Enhances curb appeal and could attract more buyers/renters. ↑
• Both Painting exterior — Fresh paint can make the home look more appealing and increase its value. ↑
• Both Landscaping improvements — Enhances curb appeal and could attract more buyers/renters. ↑

ⓘ 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: 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 — Port Orchard

• Score: 79/100
• State rank: #110
• US rank: #2167

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Port Orchard, WA
• County: Kitsap County · 243,099 people
• City population: 68,721
• Metro: Bremerton-Silverdale-Port Orchard, WA
• Population (ZIP): 36,965
• Household income: $92,011
• Rent vs Own: 30.7% rent · 69.3% own
• Severe rent burden: 1031.0

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 (74%)
• Race & ethnicity: White 74% Two or more races 13% Hispanic / Latino 11% Asian 4% Black 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3%
• Common ancestry: Italian 9% Portuguese 4% Slovak 3%
• Foreign-born: 5% · Canada, China, South Korea
• Languages at home: 93% English-only · Spanish 3% Tagalog/Filipino 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: ▼ -432.79%
• Current HPI: 354.2856
• Rent YoY: ▲ 0.35%
• 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 event — show timeline

• 2026-06-13 Listed $65,000 NWMLS as Distributed by MLS Grid