8811 Overlook Cir NE #71 · Silverdale, WA 98312

$80,000

2 bd · 2.0 ba · 1,152 sqft · Manufactured · 249 Days on market

Built 1987 Average condition $69/sqft · 28% below area Est $110k · 28% under ↓ 16% 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.5/10.0
• Livability +4.1/5.0
• Condition / age +2.8/5.0
• Rent growth +2.6/5.0
• Appreciation +0.0/10.0

Listing remarks

Affordable 2BR/2BA home in Steele Creek Mobile Home Park (all ages)! Enjoy low-maintenance living with a roof less than 3 years old. Conveniently located near shopping, dining, hospitals, and in the top-rated Central Kitsap School District. The perfect opportunity to start your journey to homeownership in a central location!

Key facts

• Built 1987
• Listed 249 days

Tags

• ROOF LESS THAN 3 YEARS OLD

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $80k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 22.1% 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; 349 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 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 $553 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 $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 249 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.

Recommended offer $70,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 249 days. Have you received any prior offers? Is the seller open to a 12% 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 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?
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: 2.54% ✓
• Cap rate: 22.10%
• Cash-on-cash: 56.44%
• DSCR: 3.51
• GRM: 3.3

CMA / ARV

• ARV (median comp): $110,448
• List price: $80,000
• Delta: -27.57%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9110 Steele Creek Loop NE	0.12mi	3/2.0 (+1)	1,232 (+7%)	19mo	$73,500	$60	62
8760 State Highway 303 NE Unit C	0.30mi	3/2.0 (+1)	1,000 (-13%)	10mo	$110,000	$110	50

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: 51.7%
• Equity multiple: 3.18×
• Total profit: $48,752
• Equity at exit: $11,928

10-year hold

• IRR: 56.0%
• Equity multiple: 5.82×
• Total profit: $107,929
• Equity at exit: $6,917

Cash invested: $22,400 (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: 3.3×

Monthly cashflow live

• Estimated rent: $2,033 high
• Mortgage (P&I): −$420
• Tax est. 1.5%: −$100 /mo · $1,200/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$427
• Net cashflow: $1,054

Break-even live

Break-even rent $700

Max offer price $80,000

Occupancy floor 43%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
263 Weatherstone Ln NE Bremerton, WA	1.0–3.0	1.0–2.0	884	$1,874	$2.12	13d	4	0.92mi
1381 NE Fairgrounds Rd Bremerton, WA	1.0–3.0	1.0–2.0	949	$2,022	$2.13	13d	14	0.94mi
7720 Vineyards Ln NE Bremerton, WA	1.0–3.0	1.0–2.0	840	$1,988	$2.36	13d	11	0.97mi
100 NE Miramar Cir Bremerton, WA	3.0	2.5	1446	$2,500	$1.73	20d	1	1.33mi
835 NW Huckle Dr Unit A Bremerton, WA	2.0	1.5	1112	$1,900	$1.71	20d	1	1.35mi

Listing history 17 events

1. 2026-06-18
   days on market $80,000 Active 249 DOM
2. 2026-06-17
   days on market $80,000 Active 248 DOM
3. 2026-06-16
   days on market $80,000 Active 247 DOM
4. 2026-06-15
   days on market $80,000 Active 246 DOM
5. 2026-06-14
   days on market $80,000 Active 244 DOM
6. 2026-06-13
   days on market $80,000 Active 243 DOM
7. 2026-06-10
   days on market $80,000 Active 241 DOM
8. 2026-06-09
   days on market $80,000 Active 240 DOM
9. 2026-06-08
   days on market $80,000 Active 239 DOM
10. 2026-06-07
    days on market $80,000 Active 238 DOM
11. 2026-06-05
    days on market $80,000 Active 235 DOM
12. 2026-06-02
    days on market $80,000 Active 233 DOM
13. 2026-06-01
    days on market $80,000 Active 232 DOM
14. 2026-05-31
    days on market $80,000 Active 231 DOM
15. 2026-05-30
    days on market $80,000 Active 230 DOM
16. 2026-04-29
    price $80,000
17. 2025-10-12
    listed $95,000 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 · 15 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: $24,402
• − Mortgage interest: −$4,481
• − Property taxes: −$1,200
• − Insurance: −$400
• − Repairs & maintenance: −$1,952
• − Management: −$1,952
• − Depreciation: −$2,327
• Taxable income: $12,089
• Est. tax owed @ 24.0%: −$2,901
• After-tax cash flow: $9,742/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

Average 55/100 Cosmetic rehab

This mobile home has average condition with some cosmetic updates needed. The roof is new, and the kitchen is modern, but the bathrooms and exterior need attention. Updating these areas can significantly increase its value.

Repairs flagged

• Major bathroom fixtures — dated and in need of replacement
• Moderate exterior siding — moderate wear

Value-add opportunities

• Both update bathrooms — modernizing bathrooms can increase both resale and rental value
• Both update flooring — new flooring can improve both resale and rental value
• Both landscaping — improved landscaping can increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
bathroom fixtures · dated and in need of replacement	Major	$15,000–50,000
exterior siding · moderate wear	Moderate	$3,000–15,000
Total estimated repair cost · 2 items		$18,000–65,000

Value-add ROI direction

• Both update bathrooms — modernizing bathrooms can increase both resale and rental value ↑
• Both update flooring — new flooring can improve both resale and rental value ↑
• Both landscaping — improved landscaping can increase both resale and rental value ↑

ⓘ 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: 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): 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

-15.8% since first listed

2 events — show timeline

• 2026-04-29 Price Changed $80,000 NWMLS as Distributed by MLS Grid
• 2025-10-12 Listed $95,000 NWMLS as Distributed by MLS Grid