16300 State Highway 305 NE #45 · Suquamish, WA 98370

$139,400

2 bd · 2.0 ba · 1,260 sqft · Manufactured · 38 Days on market

Built 1981 Good condition $111/sqft · 12% above area Est $125k · 12% over

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.4/10.0
• Condition / age +3.8/5.0
• Livability +3.5/5.0
• Rent growth +2.7/5.0
• ARV discount +2.3/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to easy living in the beautifully maintained 55+ Cedar Glen Manufactured Home Park! This spacious & well-cared-for 2-bedroom, 2-bath home offers 1,260 square feet of comfortable living space with a functional, light-filled layout. Inside, you’ll find generous living areas including a living room, family room, dining area, & additional eating space off the kitchen. The private primary suite features its own ensuite bath and large walk in closet. Thoughtful updates throughout include double-pane windows, new plumbing and a ductless mini-split system providing efficient heating and cooling year-round. Outside, enjoy beautifully manicured grounds with just the right amo

Key facts

• New plumbing
• Ensuite bath
• Large walk in closet

Tags

• PRIVATE PRIMARY SUITE
• ENSUITE BATH
• LARGE WALK IN CLOSET
• DOUBLE-PANE WINDOWS
• NEW PLUMBING
• DUCTLESS MINI-SPLIT SYSTEM

Property features AI

Finance

• Other: Storage: 1
• Financial info: Land lease: $1,029; Listing terms: Cash or Conventional
• HOA & community: Located in Cedar Glen mobile home park (97 homes); Park amenities: Clubhouse, common area, laundry, RV parking; Park approved for sale; Senior community

Exterior

• Parking: Carport
• Utilities: Electric energy; Public water (park provided); Park-provided sewer; Puget Sound Energy service; Electric water heater located in master closet; Cable: Xfinity; Internet: Xfinity
• Home design: Manufactured home (double wide); One level; Entry level: One; Good condition; Make: Kentwood; Mobile home remains in place
• Construction: Metal/vinyl construction materials; Composition roof; Metal skirt; Tie down foundation; Manufactured after 6/15/1976
• Exterior features: Metal/vinyl exterior; Paved lot; Landscaped; Patio/porch/deck

Interior

• Kitchen: Dishwasher; Refrigerator; Stove/Range
• Bedrooms: 2 bedrooms
• Flooring: Laminate; Carpet
• Bathrooms: 2 full bathrooms; 2 bathtubs; 2 showers
• Heating & cooling: Ductless heating; Forced air heating; Cooling present
• Interior features: Water heater; Ceiling fan(s); Double pane windows; Walk-in closet; Bath off primary; Patio/porch/deck
• Laundry & utility: Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $139k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Recommended offer: $135k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#262 in WA) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A-, crime B+; Watch: cost of living C-, amenities F, commute F.
• North Kitsap School District (suburban): math 53% / reading 65% proficiency, ranked #54 of 291 in WA (top 19%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Suquamish Elementary School (328 students, 52% FRL); Kingston Middle School (491 students, 49% FRL); Kingston High School (610 students, 42% FRL) — zoned schools average 48% FRL vs 26% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 265 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 $964 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 + 0.7% rent growth), your $39k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($135k) is reasonable based on typical stale-listing flexibility.

Recommended offer $135,218 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 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 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?
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: 1.78% ✓
• Cap rate: 14.90%
• Cash-on-cash: 30.75%
• DSCR: 2.37
• GRM: 4.7

CMA / ARV

• ARV (median comp): $124,967
• List price: $139,400
• Delta: 11.55%
• Verdict: OVERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16300 NE State Hwy 305 #18	0.00mi	2/2.0	1,260 (0%)	10mo	$185,000	$147	91
16300 NE State Highway 305 #71	0.00mi	2/2.0	1,276 (+1%)	12mo	$142,500	$112	88
16300 State Hwy 305 NE #75	0.00mi	2/2.0	1,344 (+7%)	5mo	$40,000	$30	84
16300 NE State Highway 305 #10	0.00mi	2/2.0	1,368 (+9%)	2mo	$170,000	$124	84
16300 State Route 305 NE #78	0.08mi	2/2.0	1,240 (-2%)	12mo	$79,900	$64	84
16300 State Hwy 305 NE #80	0.00mi	2/2.0	1,344 (+7%)	11mo	$125,000	$93	79
16300 State Highway 305 #82	0.00mi	2/2.0	1,288 (+2%)	20mo	$95,000	$74	79
16300 State Highway 305 NE #22	0.07mi	3/2.0 (+1)	1,344 (+7%)	3mo	$75,000	$56	78
16300 NE State Highway 305 #92	0.00mi	2/2.0	1,086 (-14%)	2mo	$127,000	$117	75
16300 State Highway 305 NE #11	0.00mi	2/1.0	1,234 (-2%)	23mo	$42,000	$34	73
16300 NE State Highway 305 #52	0.00mi	2/2.0	1,400 (+11%)	21mo	$189,000	$135	63

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 · 0.71% rent growth · sell at horizon

5-year hold

• IRR: 22.9%
• Equity multiple: 1.91×
• Total profit: $35,547
• Equity at exit: $20,785

10-year hold

• IRR: 29.3%
• Equity multiple: 3.34×
• Total profit: $91,183
• Equity at exit: $12,053

Cash invested: $39,032 (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 98370

• Rents YoY: 0.7%
• Active inventory: 265
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $2,485 medium
• Mortgage (P&I): −$731
• Tax est. 1.5%: −$174 /mo · $2,091/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$522
• Net cashflow: $1,000

Break-even live

Break-even rent $1,219

Max offer price $139,400

Occupancy floor 55%

Sensitivity live

Price	-10% $1,096	-5% $1,048	+0% $1,000	+5% $952	+10% $904
Rent	-10% $804	-5% $902	+0% $1,000	+5% $1,098	+10% $1,196
Rate	-1.0pp $1,070	-0.5pp $1,036	base $1,000	+0.5pp $964	+1.0pp $927

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: $34,850
• Closing costs: $4,182
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4005 NE Kedros Dr Poulsbo, WA	3.0	2.0	1200	$2,850	$2.38	15d	1	1.40mi

Listing history 15 events

1. 2026-06-18
   days on market $139,400 Active 38 DOM
2. 2026-06-17
   days on market $139,400 Active 37 DOM
3. 2026-06-16
   days on market $139,400 Active 36 DOM
4. 2026-06-15
   days on market $139,400 Active 35 DOM
5. 2026-06-14
   days on market $139,400 Active 33 DOM
6. 2026-06-13
   days on market $139,400 Active 32 DOM
7. 2026-06-10
   days on market $139,400 Active 30 DOM
8. 2026-06-09
   days on market $139,400 Active 29 DOM
9. 2026-06-08
   days on market $139,400 Active 28 DOM
10. 2026-06-07
    days on market $139,400 Active 27 DOM
11. 2026-06-02
    days on market $139,400 Active 22 DOM
12. 2026-06-01
    days on market $139,400 Active 21 DOM
13. 2026-05-31
    days on market $139,400 Active 20 DOM
14. 2026-05-30
    days on market $139,400 Active 19 DOM
15. 2026-05-11
    listed $139,400 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥86°F today · 15 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: $29,825
• − Mortgage interest: −$7,809
• − Property taxes: −$2,091
• − Insurance: −$697
• − Repairs & maintenance: −$2,386
• − Management: −$2,386
• − Depreciation: −$4,055
• Taxable income: $10,401
• Est. tax owed @ 24.0%: −$2,496
• After-tax cash flow: $9,505/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 · 21 photos

Good 75/100 Cosmetic rehab

This well-maintained 2-bedroom, 2-bath manufactured home in a 55+ community offers a good condition with minor repairs needed. Upgrades to paint, cabinets, and landscaping would significantly enhance its value.

Repairs flagged

• Minor kitchen cabinets — Worn appearance
• Minor bathroom fixtures — Need cleaning

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace kitchen cabinets — New cabinets improve functionality and aesthetics
• Both Replace bathroom fixtures — New fixtures improve functionality and aesthetics
• Both Landscaping refresh — Fresh landscaping enhances curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · Worn appearance	Minor	$500–3,000
bathroom fixtures · Need cleaning	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace kitchen cabinets — New cabinets improve functionality and aesthetics ↑
• Both Replace bathroom fixtures — New fixtures improve functionality and aesthetics ↑
• Both Landscaping refresh — Fresh landscaping enhances curb appeal and property 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: North Kitsap School District
• NCES district ID: 5305760
• Math proficiency: 53% ▼ -1.00%
• Reading proficiency: 65% ▲ 1.00%
• Median HH income: $68,919
• Composite: 53.68/100
• National rank: #3092
• State rank: #54 of 291 in WA

Livability — Suquamish

• Score: 69/100
• State rank: #262
• US rank: #9023

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Suquamish, WA
• County: Kitsap County · 243,099 people
• City population: 3,412
• Metro: Bremerton-Silverdale-Port Orchard, WA
• Population (ZIP): 33,655
• Household income: $116,756
• Rent vs Own: 24.5% rent · 75.5% own
• Severe rent burden: 904.0

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 (79%)
• Race & ethnicity: White 79% Two or more races 11% Hispanic / Latino 9% Asian 3% Black 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 7% Italian 4% Slovak 3%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 93% English-only · Spanish 4% Other Indo-European 1% 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: ▼ -342.47%
• Current HPI: 347.3427
• Rent YoY: ▲ 0.71%
• 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

1 event — show timeline

• 2026-05-11 Listed $139,400 NWMLS as Distributed by MLS Grid