3060 NE McWilliams Rd #135 · Tracyton, WA 98311

$99,000

2 bd · 2.0 ba · 1,248 sqft · Manufactured · 40 Days on market

Built 1979 $79/sqft · 34% below area Est $150k · 34% 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

New Price! $99,000. Why rent when you can own? Water and sewer are included in the space rent. This is one of the most affordable opportunities on the market. Located in an all-ages, owner-occupied community close to shopping, dining, and daily conveniences, this 2-bedroom, 1.75-bath home offers an open-concept layout that lives larger than expected, with lots of natural light. Recent improvements include a new roof (2021), a BRAND NEW furnace, all new upgraded windows, and updated fixtures. The kitchen features a newer fridge and dishwasher. Enjoy a covered porch, easy-care yard, and ample parking. Community amenities include a clubhouse, playground, and on-site laundry.

Key facts

• 4 parking spots
• Built 1979
• Listed 40 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $99k.

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 $99k).
• Recommended offer: $96k (3.0% below list) — sets the bar for market timing.
• Cap rate 19.0% 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; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $684 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 18y ago; this cycle's ask has dropped $15k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $72k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $96,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 2.22% ✓
• Cap rate: 19.05%
• Cash-on-cash: 45.56%
• DSCR: 3.03
• GRM: 3.8

CMA / ARV

• ARV (median comp): $150,109
• List price: $99,000
• Delta: -34.05%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3060 NE McWilliams Rd #79	0.06mi	2/2.0	1,248 (0%)	9mo	$80,000	$64	90
3060 NE McWilliams Rd #2	0.00mi	2/2.0	1,200 (-4%)	8mo	$102,000	$85	87
3060 NE McWilliams Rd #94	0.00mi	3/2.0 (+1)	1,232 (-1%)	18mo	$140,000	$114	78
3060 NE McWilliams Rd #61	0.06mi	3/2.0 (+1)	1,152 (-8%)	3mo	$110,000	$95	77
3060 NE McWilliams Rd #54	0.06mi	3/2.0 (+1)	1,200 (-4%)	11mo	$140,000	$117	77
3060 NE McWilliams Rd #124	0.07mi	3/2.0 (+1)	1,321 (+6%)	8mo	$159,000	$120	75
3060 NE McWilliams Rd #104	0.06mi	3/2.0 (+1)	1,344 (+8%)	6mo	$165,000	$123	74
3060 NE McWilliams Rd #60	0.06mi	3/2.0 (+1)	1,344 (+8%)	13mo	$165,000	$123	69
3060 NE McWilliams Rd #65	0.06mi	2/2.0	1,152 (-8%)	23mo	$153,000	$133	65
3380 NE 3rd St N #29	0.28mi	3/2.0 (+1)	1,080 (-14%)	4mo	$165,000	$153	56
6450 Haneberg Ln NE	0.30mi	3/2.0 (+1)	1,344 (+8%)	22mo	$393,000	$292	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 · 0.27% rent growth · sell at horizon

5-year hold

• IRR: 39.6%
• Equity multiple: 2.63×
• Total profit: $45,137
• Equity at exit: $14,761

10-year hold

• IRR: 44.6%
• Equity multiple: 4.71×
• Total profit: $102,907
• Equity at exit: $8,560

Cash invested: $27,720 (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: 3.8×

Monthly cashflow live

• Estimated rent: $2,198 high
• Mortgage (P&I): −$519
• Tax est. 1.5%: −$124 /mo · $1,485/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$462
• Net cashflow: $1,052

Break-even live

Break-even rent $866

Max offer price $99,000

Occupancy floor 47%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 11 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	0.52mi
6056 Illahee Rd NE Unit A Bremerton, WA	2.0	1.0	711	$1,850	$2.60	43d	1	0.67mi
1970 NE Fuson Rd Bremerton, WA	1.0–2.0	1.0–2.0	676	$2,297	$3.40	13d	12	0.91mi
6101 Washington 303 Bremerton, WA	1.0–3.0	1.0–2.0	1010	$2,378	$2.35	13d	70	1.06mi
1231 NE McWilliams Rd Bremerton, WA	1.0–3.0	1.0–2.0	961	$2,227	$2.32	13d	26	1.10mi
1381 NE Fairgrounds Rd Bremerton, WA	1.0–3.0	1.0–2.0	949	$2,022	$2.13	13d	14	1.23mi
1303 NE Jasmine Ln Bremerton, WA	2.0	1.5	1152	$2,600	$2.26	43d	1	1.25mi
1911 NE Riddell Rd Bremerton, WA	2.0	1.0–2.0	858	$1,980	$2.31	13d	10	1.33mi
5180 Gibson Ln NE Unit B204 Bremerton, WA	1.0	1.0	708	$1,745	$2.46	43d	1	1.35mi
5163 NE Mariah Ln Bremerton, WA	1.0–2.0	1.0	821	$1,895	$2.31	13d	2	1.40mi
1823 NE Rustic Ln Bremerton, WA	1.0	1.0	814	$1,850	$2.27	43d	1	1.46mi

Listing history 10 events

1. 2026-05-05
   status Pending
2. 2026-04-25
   price $99,000
3. 2026-04-10
   price $109,000
4. 2026-03-26
   listed $114,000 Active
5. 2022-04-21
   soldstatus $72,500 Closed
6. 2022-03-24
   status Pending
7. 2022-03-09
   listed $72,500 Active
8. 2009-03-23
   soldstatus $28,000 Sold
9. 2009-02-18
   historical
10. 2008-11-15
    listed $34,000

ⓘ 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: $26,377
• − Mortgage interest: −$5,546
• − Property taxes: −$1,485
• − Insurance: −$495
• − Repairs & maintenance: −$2,110
• − Management: −$2,110
• − Depreciation: −$2,880
• Taxable income: $11,751
• Est. tax owed @ 24.0%: −$2,820
• After-tax cash flow: $9,808/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

+191.2% since first listed

10 events — show timeline

• 2026-05-05 Pending — NWMLS as Distributed by MLS Grid
• 2026-04-25 Price Changed $99,000 NWMLS as Distributed by MLS Grid
• 2026-04-10 Price Changed $109,000 NWMLS as Distributed by MLS Grid
• 2026-03-26 Listed $114,000 NWMLS as Distributed by MLS Grid
• 2022-04-21 Sold (MLS) $72,500 NWMLS as Distributed by MLS Grid
• 2022-03-24 Pending — NWMLS as Distributed by MLS Grid
• 2022-03-09 Listed $72,500 NWMLS as Distributed by MLS Grid
• 2009-03-23 Sold (MLS) $28,000 NWMLS as Distributed by MLS Grid
• 2009-02-18 Delisted — NWMLS as Distributed by MLS Grid
• 2008-11-15 Listed $34,000 NWMLS as Distributed by MLS Grid