6430 NE Agate Beach Rd · Bainbridge Island, WA 98110

$650,000

3 bd · 2.5 ba · 2,280 sqft · SingleFamily public records · 11 Days on market

Built 1990 0.25 ac lot $285/sqft · 41% below area

---

Why this score? — see what drove the F 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).

• Schools +7.7/10.0
• ARV discount +7.5/15.0
• Cash flow +6.0/30.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• 1% rule +0.9/10.0
• DSCR +0.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Located near Agate Beach on Bainbridge Island’s north end, this property offers a compelling opportunity for buyers seeking space, upside, and convenient access on and off the island. Positioned with easy proximity to the Agate Pass Bridge, the location allows for a direct connection to Poulsbo, Silverdale, and the greater Kitsap area while maintaining the quieter residential character that makes this part of the island so appealing. The home itself offers a generous footprint with substantial living space and flexibility for future vision and improvement. Whether approached as a renovation project, investment opportunity, or long-term hold, the scale of the home creates meaningful po

Key facts

• Agate beach access
• Large living areas
• 0.25 acre lot

Tags

• AGATE BEACH ACCESS
• SUBSTANTIAL LIVING SPACE
• LARGE LIVING AREAS
• NEARBY SHORELINE ACCESS

Property features AI

Finance

• Other: Living area approximately 2,840 (public record); Lot approximately 0.25 acre; Offers review date: Friday, May 22, 2026
• Financial info: Accepts Cash, Conventional, FHA and VA financing

Exterior

• Parking: Attached garage with 2 covered spaces
• Utilities: Electric energy source; Public/community water; Septic sewer; Power: PSE; Cable: Xfinity; Internet: Xfinity
• Home design: Single family residence; Tri-level style; Main entry level; Residential property
• Construction: Wood construction; Composition roof; Poured concrete foundation; Built on lot
• Exterior features: Wood exterior; Has view

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove/Range
• Bedrooms: 3 bedrooms (all on upper level)
• Flooring: Hardwood; Carpet
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Ceiling fans; Fireplaces (2) - gas; Vaulted ceilings; Walk-in closets
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $650k.

Deal economics

• At list price, monthly cash flow is $-1k ($-15k/yr) — negative.
• To cash-flow at today's rent, offer at most $431k (33.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $384k (40.9% below list).
• Recommended offer: $384k (40.9% below list) — sets the bar for 1% rule.
• Cap rate 4.0% vs local median 1.2% in Bainbridge Island — 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 (#111 in WA, #2,257 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, health & safety A; Watch: amenities F, cost of living F.
• Bainbridge Island School District (suburban): math 81% / reading 88% proficiency, ranked #2 of 291 in WA (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 6% free/reduced lunch — higher-income household profile.
• Zoned schools: Bainbridge High School (1,232 students, 11% FRL) — zoned schools at 11% FRL track the district average.
• Market conditions: Rents rising (+3.1%/yr); 219 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 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 $4k of loan paydown is wiped out by about $20k 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

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $27k; list at $650k implies a 2307% gain — meaningful room to come down on a strong offer.

Recommended offer $384,264 (40.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.59% ✗
• Cap rate: 4.01%
• Cash-on-cash: -8.16%
• DSCR: 0.64
• GRM: 14.1

CMA / ARV

• ARV (median comp): $1,377,790
• List price: $650,000
• Delta: -52.82%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16053 Surf Scoter Ln NE	0.12mi	3/2.5	1,945 (-15%)	22mo	$1,500,000	$771	52
7020 NE Dolphin Dr	0.40mi	3/2.5	2,464 (+8%)	23mo	$977,000	$397	49
14735 Henderson Rd NE	0.62mi	3/3.5	2,568 (+13%)	2mo	$1,900,000	$740	44
16290 Reitan Rd NE	0.33mi	3/3.0	2,592 (+14%)	23mo	$748,000	$289	41
6341 NE Balzow Rd	0.72mi	3/2.0	2,560 (+12%)	8mo	$960,000	$375	38
7500 NE Dolphin Dr	0.59mi	3/2.5	2,513 (+10%)	22mo	$2,000,000	$796	37

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 · 3.09% rent growth · sell at horizon

5-year hold

• IRR: -30.6%
• Equity multiple: -0.01×
• Total profit: $-183,923
• Equity at exit: $96,917

10-year hold

• IRR: -32.6%
• Equity multiple: -0.43×
• Total profit: $-260,588
• Equity at exit: $56,200

Cash invested: $182,000 (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 98110

• Rents YoY: 3.1%
• Active inventory: 219
• Price-to-rent: 14.1×

Monthly cashflow live

• Estimated rent: $3,843 medium
• Mortgage (P&I): −$3,409
• Tax from tax record: −$594 /mo · $7,134/yr
• Insurance: −$271
• HOA: −$0
• Vacancy / Maint / Mgmt: −$807
• Net cashflow: $-1,238

Break-even live

Break-even rent $5,410

Max offer price $431,251

Occupancy floor —

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: $162,500
• Closing costs: $19,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15122 Annavera Ln Bainbridge Island, WA	4.0	3.0	2300	$5,700	$2.48	13d	1	1.13mi

Listing history 2 events

1. 2026-05-12
   listed $650,000 Active
2. 1990-02-06
   soldstatus $27,000

ⓘ 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: $7,134 · $594/mo
• Projected year-2 tax: $7,134 · $594/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 Low 7 d/yr ≥86°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 9 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $46,112
• − Mortgage interest: −$36,410
• − Property taxes: −$7,134
• − Insurance: −$3,250
• − Repairs & maintenance: −$3,689
• − Management: −$3,689
• − Depreciation: −$18,909
• Taxable loss: −$26,969
• Est. tax savings @ 24.0%: +$6,473
• After-tax cash flow: $-8,387/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: Bainbridge Island School District
• NCES district ID: 5300330
• Math proficiency: 81% ▲ 2.00%
• Reading proficiency: 88% ▲ 2.00%
• Median HH income: $97,391
• Composite: 76.51/100
• National rank: #204
• State rank: #2 of 291 in WA

Livability — Bainbridge Island

• Score: 79/100
• State rank: #111
• US rank: #2257

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bainbridge Island, WA
• County: Kitsap County · 243,099 people
• City population: 24,631
• Metro: Bremerton-Silverdale-Port Orchard, WA
• Population (ZIP): 24,631
• Household income: $172,188
• Rent vs Own: 18.6% rent · 81.4% own
• Severe rent burden: 356.0

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 (83%)
• Race & ethnicity: White 83% Two or more races 8% Hispanic / Latino 4% Asian 4%
• Common ancestry: Italian 6% Portuguese 5% Slovak 4%
• Foreign-born: 8% · Canada, China
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% German/W. Germanic 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: ▼ -565.44%
• Current HPI: 351.8728
• Rent YoY: ▲ 3.09%
• 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

+2307.4% since first listed

3 events — show timeline

• 2026-05-23 Pending — NWMLS as Distributed by MLS Grid
• 2026-05-12 Listed $650,000 NWMLS as Distributed by MLS Grid
• 1990-02-06 Sold (Public Records) $27,000 Public Records

Property tax history

+2.9%/yr

Latest (2026): $7,134 · -8.8% YoY. Source: county tax records.