3290 Rocky Point Rd NW · Rocky Point, WA 98312

$249,999

2 bd · 2.0 ba · 1,416 sqft · Manufactured public records · 101 Days on market

Built 1971 10,019 sqft lot $177/sqft · 28% below area Est $346k · 28% 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 +15.0/30.0
• ARV discount +15.0/15.0
• DSCR +4.6/10.0
• Schools +3.9/10.0
• Livability +3.5/5.0
• 1% rule +3.2/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Tucked at the end of Rocky Point, this quiet West Bremerton home offers 2 bedrooms plus a bonus room, a large living room, flex room, and inviting dining space. Enjoy an out-of-town feel minutes from amenities—8 min to PSNS, Hwy 3, and 12 min to the ferry. Peekaboo water and Olympic Mountain views, a large deck for 4th of July fireworks, a greenhouse, and a huge chicken coop/shed. Updates include a 2024 roof, 1-yr-old septic with transferable agreement, new flooring, paint, vanities, fixtures, and more. Endless potential—come see it! Seller will pay all buyer's closing costs!

Key facts

• New floors
• Spacious deck
• Updated vanities

Tags

• NEW FLOORS
• UPDATED VANITIES
• SPACIOUS DECK
• CHICKEN COOP

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $250k.

Deal economics

• At list price, monthly cash flow is $77 ($926/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $205k (17.9% below list).
• Recommended offer: $205k (17.9% below list) — sets the bar for 1% rule.

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; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 $2k of loan paydown is wiped out by about $8k 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 101 days — a 9% lower offer ($227k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y ago; this cycle's ask has dropped $100k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $70k; list at $250k implies a 257% gain — meaningful room to come down on a strong offer.

Recommended offer $205,128 (17.9% below list)

Questions for the listing agent

1. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — 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 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?
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: 0.82% ✗
• Cap rate: 6.66%
• Cash-on-cash: 1.32%
• DSCR: 1.06
• GRM: 10.2

CMA / ARV

• ARV (median comp): $345,909
• List price: $249,999
• Delta: -27.73%
• Verdict: UNDERPRICED
• Comps: 10 within 2.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3290 Rocky Point Rd NW	0.00mi	2/2.0	1,416 (0%)	1mo	$249,999	$177	99
3238 View Dr NW	0.07mi	3/2.0 (+1)	1,628 (+15%)	17mo	$408,000	$251	52

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: -17.0%
• Equity multiple: 0.41×
• Total profit: $-41,142
• Equity at exit: $37,276

10-year hold

• IRR: -14.3%
• Equity multiple: 0.27×
• Total profit: $-51,070
• Equity at exit: $21,615

Cash invested: $70,000 (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: 10.2×

Monthly cashflow live

• Estimated rent: $2,051 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$128 /mo · $1,538/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$431
• Net cashflow: $77

Break-even live

Break-even rent $1,954

Max offer price $249,999

Occupancy floor 91%

Sensitivity live

Price	-10% $219	-5% $148	+0% $77	+5% $6	+10% $-64
Rent	-10% $-85	-5% $-4	+0% $77	+5% $158	+10% $239
Rate	-1.0pp $203	-0.5pp $141	base $77	+0.5pp $12	+1.0pp $-54

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3431 Mathews Dr NW Bremerton, WA	1.0	1.0	1005	$1,900	$1.89	44d	1	0.16mi
3070 NW Paul Benjamin Rd Bremerton, WA	3.0	2.5	1752	$2,895	$1.65	14d	1	1.11mi
3070 NW Paul Benjamin Rd Bremerton, WA	3.0	2.5	1752	$2,895	$1.65	44d	1	1.11mi
778 NE Mesa Ln Bremerton, WA	1.0–3.0	1.0–2.0	877	$1,822	$2.08	14d	3	1.29mi
3000 Austin Dr Bremerton, WA	1.0–3.0	1.0–2.0	950	$1,888	$1.99	14d	10	1.40mi
820 NE Riddell Rd Unit D Bremerton, WA	2.0	1.0	974	$1,650	$1.69	22d	1	1.44mi
685 Sylvan Way Bremerton, WA	2.0	2.0	1040	$2,100	$2.02	14d	2	1.45mi
3232 Pine Rd Bremerton, WA	2.0–3.0	2.0	980	$1,718	$1.75	14d	9	1.45mi
3985 NW Dyes Inlet Ln Bremerton, WA	2.0	1.0	900	$2,100	$2.33	14d	1	1.49mi

Listing history 16 events

1. 2026-05-08
   status Pending
2. 2026-04-29
   status Active
3. 2026-03-20
   status Pending
4. 2026-03-05
   price $249,999
5. 2026-02-12
   price $275,000
6. 2026-02-02
   price $295,000
7. 2026-01-15
   status Active
8. 2025-12-10
   price $320,000
9. 2025-11-25
   price $345,000
10. 2025-11-14
    listed $350,000 Active
11. 2016-09-30
    soldstatus $70,000 Sold
12. 2016-09-30
    soldstatus $70,000
13. 2016-09-16
    status Pending Inspection
14. 2016-07-23
    listed $75,000 Active
15. 1995-09-01
    soldstatus $48,100
16. 1993-08-31
    soldstatus $42,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast WA · Resets to sale price

• Current annual tax: $1,538 · $128/mo
• Projected year-2 tax: $2,450 · $204/mo
• Expected delta: +$912/yr (+$76/mo · 59.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 · 14 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: $24,615
• − Mortgage interest: −$14,004
• − Property taxes: −$1,538
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,969
• − Management: −$1,969
• − Depreciation: −$7,273
• Taxable loss: −$3,387
• Est. tax savings @ 24.0%: +$813
• After-tax cash flow: $1,739/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: 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

+488.2% since first listed

16 events — show timeline

• 2026-05-08 Pending — NWMLS as Distributed by MLS Grid
• 2026-04-29 Relisted — NWMLS as Distributed by MLS Grid
• 2026-03-20 Pending — NWMLS as Distributed by MLS Grid
• 2026-03-05 Price Changed $249,999 NWMLS as Distributed by MLS Grid
• 2026-02-12 Price Changed $275,000 NWMLS as Distributed by MLS Grid
• 2026-02-02 Price Changed $295,000 NWMLS as Distributed by MLS Grid
• 2026-01-15 Relisted — NWMLS as Distributed by MLS Grid
• 2025-12-10 Price Changed $320,000 NWMLS as Distributed by MLS Grid
• 2025-11-25 Price Changed $345,000 NWMLS as Distributed by MLS Grid
• 2025-11-14 Listed $350,000 NWMLS as Distributed by MLS Grid
• 2016-09-30 Sold (Public Records) $70,000 Public Records
• 2016-09-30 Sold (MLS) $70,000 NWMLS as Distributed by MLS Grid
• 2016-09-16 Pending — NWMLS as Distributed by MLS Grid
• 2016-07-23 Listed $75,000 NWMLS as Distributed by MLS Grid
• 1995-09-01 Sold (Public Records) $48,100 Public Records
• 1993-08-31 Sold (Public Records) $42,500 Public Records

Property tax history

+1.9%/yr

Latest (2026): $1,538 · +1.4% YoY. Source: county tax records.