517 NW Silver Meadow Ln · Silverdale, WA 98311

$165,000

2 bd · 2.0 ba · 1,120 sqft · Manufactured · 111 Days on market

Built 1989 $147/sqft · 10% above area Est $150k · 10% over

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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 +26.5/30.0
• DSCR +9.0/10.0
• 1% rule +7.1/10.0
• Schools +5.5/10.0
• Livability +4.1/5.0
• ARV discount +2.9/15.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Enjoy Premier Senior Living at Silver Creek Meadows! This updated home offers one-step entry, brand new windows, an open floor plan with electric fireplace, and a new kitchen with new appliances, breakfast island, flooring, and paint. The primary bedroom includes a walk-in closet and renovated bath. Features also include a newer furnace, under-house insulation, low-maintenance yard, carport, and shed with a new door. 55+ community with clubhouse, golf course, horseshoes, walking trails. Close to shopping and hospital.

Key facts

• Open floor plan
• Breakfast island
• New kitchen

Tags

• ONE-STEP ENTRY
• NEW WINDOWS
• OPEN FLOOR PLAN
• ELECTRIC FIREPLACE
• NEW KITCHEN
• BREAKFAST ISLAND

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $165k.

Deal economics

• At list price, monthly cash flow is $369 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $150k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 2.7% in Silverdale — 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 82/100 on livability (#63 in WA, #1,155 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, health & safety A+; Watch: amenities D-, cost of living F.
• Central Kitsap School District (urban): math 55% / reading 67% proficiency, ranked #49 of 291 in WA (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents flat; 151 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 14d 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 111 days — a 9% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 4y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $100k; list at $165k implies a 65% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $150,150 (9.0% below list)

Questions for the listing agent

1. It's been on market 111 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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?
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: 1.21% ✓
• Cap rate: 9.46%
• Cash-on-cash: 11.31%
• DSCR: 1.50
• GRM: 6.9

CMA / ARV

• ARV (median comp): $149,607
• List price: $165,000
• Delta: 10.29%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
517 NW Silver Meadow Ln	0.00mi	2/2.0	1,120 (0%)	0mo	$160,000	$143	100
543 Silver Glen Ln	0.14mi	2/2.0	1,136 (+1%)	12mo	$163,000	$143	82
998 Mahogany Ln NW	0.35mi	3/2.0 (+1)	1,120 (0%)	1mo	$115,000	$103	78
981 NW Mahogany Ln	0.37mi	3/2.0 (+1)	1,080 (-4%)	6mo	$149,000	$138	67
562 NW Silver Glen Ln	0.15mi	2/2.0	1,232 (+10%)	13mo	$155,000	$126	66
857 Mahogany Ln NW	0.41mi	3/2.0 (+1)	1,188 (+6%)	0mo	$110,000	$93	66
817 Mahogany Ln NW	0.33mi	3/2.0 (+1)	1,080 (-4%)	16mo	$115,000	$106	61
869 Mahogany Ln NW	0.44mi	3/2.0 (+1)	1,188 (+6%)	8mo	$100,000	$84	57
922 NW Mahogany Ln	0.44mi	3/2.0 (+1)	1,232 (+10%)	8mo	$165,500	$134	51

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 · 0.27% rent growth · sell at horizon

5-year hold

• IRR: -5.1%
• Equity multiple: 0.82×
• Total profit: $-8,507
• Equity at exit: $24,602

10-year hold

• IRR: 0.9%
• Equity multiple: 1.05×
• Total profit: $2,411
• Equity at exit: $14,266

Cash invested: $46,200 (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 98311

• Rents YoY: 0.3%
• Active inventory: 151
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,994 high
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,475/yr
• Insurance: −$69
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $369

Break-even live

Break-even rent $1,528

Max offer price $165,000

Occupancy floor 77%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
835 NW Huckle Dr Unit A Bremerton, WA	2.0	1.5	1112	$1,900	$1.71	21d	1	0.50mi
1255 NW Mirage Ln Silverdale, WA	1.0–3.0	1.0–2.0	865	$2,050	$2.37	14d	12	0.56mi
9896 Enterprise Ln NW Silverdale, WA	1.0–2.0	1.0	823	$1,995	$2.42	44d	2	0.96mi
9902 Cranberry Ln NW Silverdale, WA	1.0–2.0	1.0	835	$1,995	$2.39	14d	6	1.08mi
11153 Shipside Ln NW Silverdale, WA	1.0–2.0	1.0	743	$1,989	$2.68	14d	19	1.08mi
7720 Vineyards Ln NE Bremerton, WA	1.0–3.0	1.0–2.0	840	$1,988	$2.36	14d	11	1.13mi
9860 Bushlac Ln NW Silverdale, WA	1.0–2.0	1.0	716	$1,978	$2.76	14d	5	1.15mi
263 Weatherstone Ln NE Bremerton, WA	1.0–3.0	1.0–2.0	884	$1,874	$2.12	14d	4	1.20mi
1413 NW Santa Fe Ln Silverdale, WA	1.0–3.0	1.0–2.0	1002	$2,174	$2.17	14d	15	1.26mi

Listing history 33 events

1. 2026-05-03
   status Pending
2. 2026-03-17
   price $165,000
3. 2026-01-12
   listed $175,000 Active
4. 2025-02-26
   soldstatus $100,000 Closed
5. 2025-01-10
   status Pending
6. 2025-01-04
   status Active
7. 2024-11-14
   price $110,000
8. 2024-11-12
   status Active
9. 2024-11-08
   status Pending
10. 2024-10-25
    price $115,000
11. 2024-10-10
    price $120,000
12. 2024-08-13
    price $129,000
13. 2024-07-11
    listed $139,000 Active
14. 2023-01-11
    soldstatus $119,900 Closed
15. 2022-12-06
    status Pending
16. 2022-12-06
    status Pending
17. 2022-10-18
    price
18. 2022-10-18
    price $129,900
19. 2022-10-08
    price
20. 2022-10-08
    price $149,900
21. 2022-09-25
    price $154,900
22. 2022-09-25
    price
23. 2022-09-16
    status Active
24. 2022-09-16
    status Active
25. 2022-08-22
    status Pending
26. 2022-08-22
    status Pending
27. 2022-07-20
    historical Active Under Contract
28. 2022-07-20
    historical Active Under Contract
29. 2022-06-14
    price $159,900
30. 2022-06-05
    status Active
31. 2022-05-10
    price $154,900
32. 2022-04-15
    listed $165,000 Active
33. 2022-04-15
    listed 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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥86°F today · 15 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: $23,933
• − Mortgage interest: −$9,243
• − Property taxes: −$2,475
• − Insurance: −$1,622
• − Repairs & maintenance: −$1,915
• − Management: −$1,915
• − Depreciation: −$4,800
• Taxable income: $1,964
• Est. tax owed @ 24.0%: −$471
• After-tax cash flow: $3,955/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: Central Kitsap School District
• NCES district ID: 5301080
• Math proficiency: 55% ▲ 1.00%
• Reading proficiency: 67% ▬ 0.00%
• Median HH income: $64,825
• Composite: 54.87/100
• National rank: #2813
• State rank: #49 of 291 in WA

Livability — Silverdale

• Score: 82/100
• State rank: #63
• US rank: #1155

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Kitsap County · 243,099 people
• City population: 21,604
• Metro: Bremerton-Silverdale-Port Orchard, WA
• Population (ZIP): 28,168
• Household income: $108,757
• Rent vs Own: 24.0% rent · 76.0% own
• Severe rent burden: 502.0

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 (67%)
• Race & ethnicity: White 67% Two or more races 14% Hispanic / Latino 9% Asian 9% Black 3% Pacific Islander 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Portuguese 4% Italian 4% Slovak 3%
• Foreign-born: 9% · Canada, Vietnam, China
• Languages at home: 89% English-only · Tagalog/Filipino 4% Spanish 3% Vietnamese 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: ▼ -378.18%
• Current HPI: 356.6272
• Rent YoY: ▲ 0.27%
• 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

+0.0% since first listed

33 events — show timeline

• 2026-05-03 Pending — NWMLS as Distributed by MLS Grid
• 2026-03-17 Price Changed $165,000 NWMLS as Distributed by MLS Grid
• 2026-01-12 Listed $175,000 NWMLS as Distributed by MLS Grid
• 2025-02-26 Sold (MLS) $100,000 NWMLS as Distributed by MLS Grid
• 2025-01-10 Pending — NWMLS as Distributed by MLS Grid
• 2025-01-04 Relisted — NWMLS as Distributed by MLS Grid
• 2024-11-14 Price Changed $110,000 NWMLS as Distributed by MLS Grid
• 2024-11-12 Relisted — NWMLS as Distributed by MLS Grid
• 2024-11-08 Pending — NWMLS as Distributed by MLS Grid
• 2024-10-25 Price Changed $115,000 NWMLS as Distributed by MLS Grid
• 2024-10-10 Price Changed $120,000 NWMLS as Distributed by MLS Grid
• 2024-08-13 Price Changed $129,000 NWMLS as Distributed by MLS Grid
• 2024-07-11 Listed $139,000 NWMLS as Distributed by MLS Grid
• 2023-01-11 Sold (MLS) $119,900 NWMLS as Distributed by MLS Grid
• 2022-12-06 Pending — NWMLS as Distributed by MLS Grid
• 2022-12-06 Pending — NWMLS as Distributed by MLS Grid
• 2022-10-18 Price Changed — NWMLS as Distributed by MLS Grid
• 2022-10-18 Price Changed $129,900 NWMLS as Distributed by MLS Grid
• 2022-10-08 Price Changed — NWMLS as Distributed by MLS Grid
• 2022-10-08 Price Changed $149,900 NWMLS as Distributed by MLS Grid
• 2022-09-25 Price Changed $154,900 NWMLS as Distributed by MLS Grid
• 2022-09-25 Price Changed — NWMLS as Distributed by MLS Grid
• 2022-09-16 Relisted — NWMLS as Distributed by MLS Grid
• 2022-09-16 Relisted — NWMLS as Distributed by MLS Grid
• 2022-08-22 Pending — NWMLS as Distributed by MLS Grid
• 2022-08-22 Pending — NWMLS as Distributed by MLS Grid
• 2022-07-20 Contingent — NWMLS as Distributed by MLS Grid
• 2022-07-20 Contingent — NWMLS as Distributed by MLS Grid
• 2022-06-14 Price Changed $159,900 NWMLS as Distributed by MLS Grid
• 2022-06-05 Relisted — NWMLS as Distributed by MLS Grid
• 2022-05-10 Price Changed $154,900 NWMLS as Distributed by MLS Grid
• 2022-04-15 Listed — NWMLS as Distributed by MLS Grid
• 2022-04-15 Listed $165,000 NWMLS as Distributed by MLS Grid