123 Acorn St · Bremerton, WA 98310

$379,000

2 bd · 2.0 ba · 1,152 sqft · MultiFamily public records · 59 Days on market

Built 1943 6,970 sqft lot $329/sqft · 6% below area Est $405k · 6% under

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Why this score? — see what drove the D+ 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 +16.5/30.0
• ARV discount +10.4/15.0
• DSCR +5.1/10.0
• Livability +4.3/5.0
• Schools +3.9/10.0
• 1% rule +3.6/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Bremerton Duplex with peak a boo water view from the deck of the 123 unit. Each unit currently renting for 1325 per month. 123 unit will be coming vacant in June to allow for owner occupied potential. Easy to rent units with minimal vacancy, each with one bedroom and 1 bath.

Key facts

• 6,970 sq ft lot
• Built 1943
• Listed 59 days

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/1-bath units multifamily listed at $379k.

Deal economics

• At list price, monthly cash flow is $220 ($3k/yr) — positive. Per door: $110/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $325k (14.2% below list).
• Recommended offer: $325k (14.2% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 3.5% in Bremerton — 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 86/100 on livability (#22 in WA, #431 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime 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; 94 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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).
• At $3,253/mo this rent would consume 51% of the median local household income ($76k/yr) (locally 1418% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k 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 59 days — a 3% lower offer ($368k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 25y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $155k; list at $379k implies a 145% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1943 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $325,300 (14.2% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1943 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-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?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.86% ✗
• Cap rate: 6.99%
• Cash-on-cash: 2.49%
• DSCR: 1.11
• GRM: 9.7

CMA / ARV

• ARV (median comp): $404,849
• List price: $379,000
• Delta: -6.38%
• Verdict: FAIR
• Comps: 7 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1005 Sheridan Rd	0.55mi	3/2.0 (+1)	1,228 (+7%)	18mo	$415,000	$338	43

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 · 0.55% rent growth · sell at horizon

5-year hold

• IRR: -14.9%
• Equity multiple: 0.48×
• Total profit: $-55,332
• Equity at exit: $56,510

10-year hold

• IRR: -10.6%
• Equity multiple: 0.42×
• Total profit: $-61,177
• Equity at exit: $32,769

Cash invested: $106,120 (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 98310

• Rents YoY: 0.6%
• Active inventory: 94
• Price-to-rent: 19.4×

Monthly cashflow live

• Estimated rent: $3,253 high
• Mortgage (P&I): −$1,988
• Tax from tax record: −$204 /mo · $2,451/yr
• Insurance: −$158
• HOA: −$0
• Vacancy / Maint / Mgmt: −$683
• Net cashflow: $220

Break-even live

Break-even rent $2,974

Max offer price $379,000

Occupancy floor 88%

Sensitivity live

Price	-10% $435	-5% $327	+0% $220	+5% $113	+10% $6
Rent	-10% $-37	-5% $92	+0% $220	+5% $349	+10% $477
Rate	-1.0pp $411	-0.5pp $317	base $220	+0.5pp $122	+1.0pp $22

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$3,254
Total (2 units)			$3,253

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: $94,750
• Closing costs: $11,370
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2733 Hefner Ave Unit 2733 Bremerton, WA	3.0	1.0	874	$1,900	$2.17	14d	1	0.08mi
500 Lebo Blvd Unit 105 Bremerton, WA	1.0	1.0	733	$1,375	$1.88	45d	1	0.40mi
500 Lebo Blvd Apt 301 Bremerton, WA	1.0	1.0	733	$1,475	$2.01	14d	1	0.40mi
500 Lebo Blvd Unit 102 Bremerton, WA	1.0	1.0	733	$1,400	$1.91	44d	1	0.40mi
500 Lebo Blvd Apt 205 Bremerton, WA	1.0	1.0	733	$1,450	$1.98	44d	1	0.40mi
500 Lebo Blvd Apt 205 Bremerton, WA	1.0	1.0	733	$1,425	$1.94	21d	1	0.40mi
500 Lebo Blvd Apt 305 Bremerton, WA	1.0	1.0	733	$1,450	$1.98	14d	1	0.40mi
500 Lebo Blvd Unit 304 Bremerton, WA	2.0	1.0	917	$1,600	$1.74	21d	1	0.40mi
550 Lebo Blvd Bremerton, WA	1.0	1.0	1000	$1,550	$1.55	14d	1	0.44mi
3232 Pine Rd Bremerton, WA	2.0–3.0	2.0	980	$1,718	$1.75	14d	9	0.54mi
1588 Naval Ave #10 Bremerton, WA	2.0	2.0	972	$1,450	$1.49	44d	1	0.59mi
1742 Anderson St Bremerton, WA	3.0	1.0	855	$1,899	$2.22	44d	1	0.60mi
1604 Naval Ave Bremerton, WA	2.0	2.0	1065	$1,850	$1.74	21d	2	0.61mi
3280 Pine Rd Bremerton, WA	2.0	1.0	810	$1,671	$2.06	14d	5	0.61mi
1720 Olympic Ave Bremerton, WA	3.0	1.0	855	$2,100	$2.46	44d	1	0.63mi
685 Sylvan Way Bremerton, WA	2.0	2.0	1040	$2,100	$2.02	14d	2	0.67mi
1708 Houston Ave Bremerton, WA	3.0	1.0	854	$1,750	$2.05	14d	1	0.71mi
1720 N Wycoff Ave Bremerton, WA	3.0	2.0	1300	$2,400	$1.85	44d	1	0.80mi
1720 N Wycoff Ave Unit 2 Bremerton, WA	3.0	2.0	1100	$2,100	$1.91	14d	1	0.80mi
1117 Marguerite Ave Bremerton, WA	3.0	2.5	1404	$2,875	$2.05	44d	1	1.00mi
2127 12th St Unit A208 Bremerton, WA	2.0	1.0	800	$1,450	$1.81	21d	1	1.00mi
2127 12th St Bremerton, WA	2.0	1.0	800	$1,500	$1.88	21d	1	1.00mi
2127 12th St Unit C207 Bremerton, WA	2.0	1.0	800	$1,495	$1.87	14d	1	1.00mi
2127 12th St Bremerton, WA	2.0	1.0	800	$1,595	$1.99	44d	1	1.00mi
4020 Bledsoe Ave Bremerton, WA	1.0–2.0	1.0–2.0	744	$1,875	$2.52	14d	4	1.00mi
1134 Rainier Ave Bremerton, WA	2.0	1.0	1175	$2,000	$1.70	44d	1	1.02mi
2172 Seringa Ave Bremerton, WA	1.0–2.0	1.0–2.0	787	$2,295	$2.92	14d	6	1.07mi
1610 E 31st St Bremerton, WA	2.0	1.0	750	$1,445	$1.93	21d	1	1.08mi
1208 10th St Bremerton, WA	2.0	1.0	950	$1,850	$1.95	44d	1	1.12mi
1222 9th St Bremerton, WA	3.0	1.0	1072	$2,000	$1.87	44d	1	1.16mi
3850 Constellation Loop Bremerton, WA	2.0	2.5	1363	$2,600	$1.91	21d	1	1.18mi
3304 Ward Ave Bremerton, WA	1.0	1.0	700	$1,400	$2.00	21d	1	1.20mi
814 Chester Ave Unit B Bremerton, WA	1.0	1.0	782	$1,400	$1.79	21d	1	1.22mi
1925 Barnett St Bremerton, WA	2.0	1.0	850	$2,100	$2.47	44d	1	1.22mi
3831 Maple Ave Unit A Bremerton, WA	2.0	1.0	1100	$2,500	$2.27	44d	1	1.22mi
2106 7th St Bremerton, WA	2.0	2.0	1040	$2,450	$2.36	44d	1	1.23mi
2732 Callahan Dr Unit B Bremerton, WA	2.0	1.0	864	$1,800	$2.08	21d	1	1.27mi
2596 Fir Ave Unit C Bremerton, WA	2.0	1.0	960	$1,550	$1.61	44d	1	1.28mi
2700 Maple St Bremerton, WA	1.0–2.0	1.0	780	$1,875	$2.40	14d	6	1.29mi
2001 Magnuson Way Bremerton, WA	2.0	1.0	800	$1,600	$2.00	14d	1	1.29mi

Listing history 21 events

1. 2026-06-18
   days on market $379,000 Active 59 DOM
2. 2026-06-17
   days on market $379,000 Active 58 DOM
3. 2026-06-16
   days on market $379,000 Active 57 DOM
4. 2026-06-15
   days on market $379,000 Active 56 DOM
5. 2026-06-14
   days on market $379,000 Active 54 DOM
6. 2026-06-13
   days on market $379,000 Active 53 DOM
7. 2026-06-10
   days on market $379,000 Active 51 DOM
8. 2026-06-09
   days on market $379,000 Active 50 DOM
9. 2026-06-08
   days on market $379,000 Active 49 DOM
10. 2026-06-07
    days on market $379,000 Active 48 DOM
11. 2026-06-02
    days on market $379,000 Active 43 DOM
12. 2026-06-01
    days on market $379,000 Active 42 DOM
13. 2026-05-31
    days on market $379,000 Active 41 DOM
14. 2026-05-30
    days on market $379,000 Active 40 DOM
15. 2026-04-20
    listed $379,000 Active
16. 2024-03-21
    historical $1,300
17. 2024-02-23
    listed $1,300
18. 2018-10-18
    soldstatus $155,000
19. 2005-07-27
    soldstatus $144,950
20. 2002-04-19
    soldstatus $50,000
21. 2001-12-10
    listed

ⓘ 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: $2,451 · $204/mo
• Projected year-2 tax: $3,714 · $310/mo
• Expected delta: +$1,264/yr (+$105/mo · 51.6%)

ⓘ 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 4/10 Moderate 7 d/yr ≥86°F today · 16 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: $39,036
• − Mortgage interest: −$21,230
• − Property taxes: −$2,451
• − Insurance: −$1,895
• − Repairs & maintenance: −$3,123
• − Management: −$3,123
• − Depreciation: −$11,025
• Taxable loss: −$3,811
• Est. tax savings @ 24.0%: +$915
• After-tax cash flow: $3,557/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 — Bremerton

• Score: 86/100
• State rank: #22
• US rank: #431

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bremerton, WA
• County: Kitsap County · 243,099 people
• City population: 94,488
• Metro: Bremerton-Silverdale-Port Orchard, WA
• Population (ZIP): 22,643
• Household income: $75,878
• Rent vs Own: 48.9% rent · 51.1% own
• Severe rent burden: 1418.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 61% Hispanic / Latino 15% Two or more races 13% Asian 6% Black 5% Pacific Islander 4%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 4% Portuguese 4% Lithuanian 3%
• Foreign-born: 11% · Canada, China
• Languages at home: 84% English-only · Spanish 6% Other Asian/Pacific 3% Tagalog/Filipino 3%

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: ▼ -533.38%
• Current HPI: 374.6915
• Rent YoY: ▲ 0.55%
• 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

+658.0% since first listed

7 events — show timeline

• 2026-04-20 Listed $379,000 NWMLS as Distributed by MLS Grid
• 2024-03-21 Rental Removed $1,300 NWMLS
• 2024-02-23 Listed for Rent $1,300 NWMLS
• 2018-10-18 Sold (Public Records) $155,000 Public Records
• 2005-07-27 Sold (Public Records) $144,950 Public Records
• 2002-04-19 Sold (Public Records) $50,000 Public Records
• 2001-12-10 Listed — NWMLS as Distributed by MLS Grid

Property tax history

+3.7%/yr

Latest (2026): $2,451 · +0.5% YoY. Source: county tax records.