3060 NE McWilliams Rd #117 · Tracyton, WA 98311

$125,000

3 bd · 2.0 ba · 1,484 sqft · Manufactured · 37 Days on market

Built 1982 $84/sqft · 22% below area Est $160k · 22% under

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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 +3.7/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

All-age Park in Central Kitsap School District! This 1484SF, 3 bedroom, 2 bath home offers a ramped entry plus a heat pump for efficient heating and AC, along with a brand new water heater, and vinyl windows. The inviting kitchen features a wood-lined ceiling, breakfast bar, and all appliances included. Desirable split floor plan with spacious primary suite offering a walk-in closet and ensuite bath with walk-in tub (heat, jets, lights), while two additional bedrooms and an updated bath with walk-in shower sit at the opposite end of the home for added privacy. Generous living spaces include a living room, dining room, and separate family room, giving everyone room to spread out. Exterior fe

Key facts

• Vinyl windows
• Wood lined ceiling
• Heat pump

Tags

• RAMPED ENTRY
• HEAT PUMP
• BRAND NEW WATER HEATER
• VINYL WINDOWS
• WOOD LINED CEILING
• BREAKFAST BAR

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $125k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $125k).
• Recommended offer: $121k (3.0% below list) — sets the bar for market timing.
• Cap rate 17.3% vs local median 3.7% in Tracyton — 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 73/100 on livability (#193 in WA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: schools D+, cost of living D+, amenities 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; 7 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 $864 of loan paydown is wiped out by about $4k 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 $35k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 24y ago; this cycle's ask has dropped $15k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; list at $125k implies a 108% gain — meaningful room to come down on a strong offer.

Recommended offer $121,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 2.04% ✓
• Cap rate: 17.31%
• Cash-on-cash: 39.35%
• DSCR: 2.75
• GRM: 4.1

CMA / ARV

• ARV (median comp): $159,648
• List price: $125,000
• Delta: -21.70%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3060 NE McWilliams Rd #104	0.00mi	3/2.0	1,344 (-9%)	6mo	$165,000	$123	79
6224 Sunset Ave NE	0.31mi	3/2.0	1,512 (+2%)	10mo	$437,500	$289	74
3060 NE McWilliams Rd #60	0.00mi	3/2.0	1,344 (-9%)	13mo	$165,000	$123	74
5912 Sunset Ave NE	0.43mi	3/2.0	1,440 (-3%)	3mo	$477,500	$332	73
3060 NE McWilliams Rd #124	0.10mi	3/2.0	1,321 (-11%)	8mo	$159,000	$120	71
6450 Haneberg Ln NE	0.25mi	3/2.0	1,344 (-9%)	22mo	$393,000	$292	54

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: 32.5%
• Equity multiple: 2.32×
• Total profit: $46,067
• Equity at exit: $18,638

10-year hold

• IRR: 38.0%
• Equity multiple: 4.08×
• Total profit: $107,936
• Equity at exit: $10,808

Cash invested: $35,000 (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 98311

• Rents YoY: 0.3%
• Active inventory: 151
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $2,546 high
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$535
• Net cashflow: $1,148

Break-even live

Break-even rent $1,093

Max offer price $125,000

Occupancy floor 50%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5848 Olive Ave NE Bremerton, WA	3.0	2.0	1421	$2,700	$1.90	43d	1	0.55mi
6101 Washington 303 Bremerton, WA	1.0–3.0	1.0–2.0	1010	$2,880	$2.85	13d	70	1.01mi
1231 NE McWilliams Rd Bremerton, WA	1.0–3.0	1.0–2.0	961	$2,600	$2.71	13d	26	1.05mi
1381 NE Fairgrounds Rd Bremerton, WA	1.0–3.0	1.0–2.0	949	$2,315	$2.44	13d	14	1.19mi
1303 NE Jasmine Ln Bremerton, WA	2.0	1.5	1152	$2,600	$2.26	43d	1	1.21mi
1911 NE Riddell Rd Bremerton, WA	2.0	1.0–2.0	858	$1,980	$2.31	13d	10	1.31mi
5163 NE Mariah Ln Bremerton, WA	1.0–2.0	1.0	821	$1,895	$2.31	13d	2	1.36mi

Listing history 15 events

1. 2026-05-13
   price $125,000
2. 2026-04-16
   listed $140,000 Active
3. 2020-12-31
   soldstatus $60,000 Sold
4. 2020-11-25
   status Pending
5. 2020-11-04
   historical Contingent
6. 2020-10-25
   status Pending Inspection
7. 2020-10-22
   price $65,000
8. 2020-10-09
   status Active
9. 2020-09-18
   status Pending
10. 2020-09-02
    listed $75,000 Active
11. 2008-09-03
    soldstatus $25,000
12. 2008-08-19
    historical
13. 2008-07-08
    listed $25,000
14. 2003-02-04
    soldstatus $16,500
15. 2002-08-27
    listed $19,900

ⓘ 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 3/10 Moderate
• 🌡 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 9 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,554
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$2,444
• − Management: −$2,444
• − Depreciation: −$3,636
• Taxable income: $12,527
• Est. tax owed @ 24.0%: −$3,006
• After-tax cash flow: $10,765/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 — Tracyton

• Score: 73/100
• State rank: #193
• US rank: #5240

Category grades

Amenities F Commute F Cost of living D+ 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
• 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

+528.1% since first listed

15 events — show timeline

• 2026-05-13 Price Changed $125,000 NWMLS as Distributed by MLS Grid
• 2026-04-16 Listed $140,000 NWMLS as Distributed by MLS Grid
• 2020-12-31 Sold (MLS) $60,000 NWMLS as Distributed by MLS Grid
• 2020-11-25 Pending — NWMLS as Distributed by MLS Grid
• 2020-11-04 Contingent — NWMLS as Distributed by MLS Grid
• 2020-10-25 Pending — NWMLS as Distributed by MLS Grid
• 2020-10-22 Price Changed $65,000 NWMLS as Distributed by MLS Grid
• 2020-10-09 Relisted — NWMLS as Distributed by MLS Grid
• 2020-09-18 Pending — NWMLS as Distributed by MLS Grid
• 2020-09-02 Listed $75,000 NWMLS as Distributed by MLS Grid
• 2008-09-03 Sold (MLS) $25,000 NWMLS as Distributed by MLS Grid
• 2008-08-19 Delisted — NWMLS as Distributed by MLS Grid
• 2008-07-08 Listed $25,000 NWMLS as Distributed by MLS Grid
• 2003-02-04 Sold (MLS) $16,500 NWMLS as Distributed by MLS Grid
• 2002-08-27 Listed $19,900 NWMLS as Distributed by MLS Grid