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

$134,500

2 bd · 2.0 ba · 1,260 sqft · Manufactured · 89 Days on market

Manufactured home 55+ age-restricted Built 1981 Good condition $107/sqft · 9% below area Est $148k · 9% under

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Why this score? — see what drove the C+ 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 +22.5/30.0
• ARV discount +11.7/15.0
• DSCR +7.5/10.0
• 1% rule +7.1/10.0
• Schools +5.4/10.0
• Condition / age +3.8/5.0
• Livability +3.5/5.0
• Rent growth +2.7/5.0
• Appreciation +2.5/10.0
• Manufactured-home adj. -5.3

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.

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

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $134k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $570 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $134k).
• Recommended offer: $126k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.4% vs local median 2.1% in Suquamish — 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 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; 373 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 $930 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 $38k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($126k) is reasonable based on typical stale-listing flexibility.

Recommended offer $126,430 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.41% ✓
• Cap rate: 11.38%
• Cash-on-cash: 18.17%
• DSCR: 1.81
• GRM: 5.9

CMA / ARV

• ARV (median comp): $148,500
• List price: $134,500
• Delta: -9.43%
• Verdict: FAIR
• Comps: 6 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%)	12mo	$185,000	$147	90
16300 NE State Highway 305 #71	0.00mi	2/2.0	1,276 (+1%)	14mo	$142,500	$112	86
16300 NE State HWY 305 #14	0.00mi	3/2.0 (+1)	1,325 (+5%)	2mo	$180,000	$136	85
16300 State Hwy 305 NE #75	0.00mi	2/2.0	1,344 (+7%)	7mo	$40,000	$30	83
16300 NE State Highway 305 #10	0.00mi	2/2.0	1,368 (+9%)	3mo	$170,000	$124	83
16300 State Route 305 NE #78	0.08mi	2/2.0	1,240 (-2%)	14mo	$79,900	$64	82
16300 State Hwy 305 NE #80	0.00mi	2/2.0	1,344 (+7%)	13mo	$125,000	$93	78
16300 State Highway 305 #82	0.00mi	2/2.0	1,288 (+2%)	22mo	$95,000	$74	78
16300 State Highway 305 NE #22	0.07mi	3/2.0 (+1)	1,344 (+7%)	5mo	$75,000	$56	76
16300 NE State Highway 305 #92	0.00mi	2/2.0	1,086 (-14%)	4mo	$127,000	$117	73
16300 NE State Highway 305 #52	0.00mi	2/2.0	1,400 (+11%)	23mo	$189,000	$135	62

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: 7.2%
• Equity multiple: 1.27×
• Total profit: $10,280
• Equity at exit: $20,054

10-year hold

• IRR: 14.4%
• Equity multiple: 2.04×
• Total profit: $39,078
• Equity at exit: $11,629

Cash invested: $37,660 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 4 active · 2 under contract
• Months of supply: 6.0 mo (17%/mo absorbed)
• Median asking: $109,450 ($81/sqft)
• Median days on market: 66 d
• This list price: 75% of active listings are priced below it
• ARV vs active asking: +45.0% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 98370

• Rents YoY: 0.7%
• Active inventory: 373
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,898 medium
• Mortgage (P&I): −$705
• Tax est. 1.5%: −$168 /mo · $2,018/yr
• Insurance: −$56
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $570

Break-even live

Break-even rent $1,177

Max offer price $134,500

Occupancy floor 65%

Sensitivity live

Price	-10% $663	-5% $617	+0% $570	+5% $524	+10% $477
Rent	-10% $420	-5% $495	+0% $570	+5% $645	+10% $720
Rate	-1.0pp $638	-0.5pp $605	base $570	+0.5pp $535	+1.0pp $500

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: $33,625
• Closing costs: $4,035
• Club membership (one-time): —
• 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	63d	1	1.40mi

Property features AI

Finance

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

Exterior

• Parking: Carport
• Utilities: Electric energyPublic water (park provided)Park-provided sewerPuget Sound Energy serviceElectric water heater located in master closetCable: XfinityInternet: Xfinity
• Home design: Manufactured home (double wide)One levelEntry level: OneGood conditionMake: KentwoodMobile home remains in place
• Construction: Metal/vinyl construction materialsComposition roofMetal skirtTie down foundationManufactured after 6/15/1976
• Exterior features: Metal/vinyl exteriorPaved lotLandscapedPatio/porch/deck

Interior

• Kitchen: DishwasherRefrigeratorStove/Range
• Bedrooms: 2 bedrooms
• Flooring: LaminateCarpet
• Bathrooms: 2 full bathrooms2 bathtubs2 showers
• Heating & cooling: Ductless heatingForced air heatingCooling present
• Interior features: Water heaterCeiling fan(s)Double pane windowsWalk-in closetBath off primaryPatio/porch/deck
• Laundry & utility: WasherDryerUtility room

Listing history 50 events

1. 2026-08-08
   days on market $134,500 Active 89 DOM
2. 2026-08-07
   days on market $134,500 Active 88 DOM
3. 2026-08-06
   days on market $134,500 Active 87 DOM
4. 2026-08-05
   days on market $134,500 Active 86 DOM
5. 2026-08-04
   days on market $134,500 Active 85 DOM
6. 2026-08-03
   days on market $134,500 Active 84 DOM
7. 2026-07-31
   days on market $134,500 Active 81 DOM
8. 2026-07-29
   days on market $134,500 Active 79 DOM
9. 2026-07-27
   days on market $134,500 Active 77 DOM
10. 2026-07-25
    days on market $134,500 Active 75 DOM
11. 2026-07-23
    days on market $134,500 Active 73 DOM
12. 2026-07-22
    days on market $134,500 Active 72 DOM
13. 2026-07-21
    days on market $134,500 Active 71 DOM
14. 2026-07-18
    days on market $134,500 Active 68 DOM
15. 2026-07-16
    days on market $134,500 Active 66 DOM
16. 2026-07-16
    days on market $134,500 Active 65 DOM
17. 2026-07-14
    days on market $134,500 Active 64 DOM
18. 2026-07-13
    days on market $134,500 Active 63 DOM
19. 2026-07-12
    days on market $134,500 Active 62 DOM
20. 2026-07-11
    days on market $134,500 Active 61 DOM
21. 2026-07-10
    days on market $134,500 Active 60 DOM
22. 2026-07-09
    days on market $134,500 Active 59 DOM
23. 2026-07-08
    days on market $134,500 Active 58 DOM
24. 2026-07-07
    days on market $134,500 Active 57 DOM
25. 2026-07-06
    days on market $134,500 Active 56 DOM
26. 2026-07-05
    days on market $134,500 Active 55 DOM
27. 2026-07-04
    pricedays on market $134,500 Active 54 DOM
28. 2026-07-03
    days on market $139,400 Active 53 DOM
29. 2026-07-02
    days on market $139,400 Active 52 DOM
30. 2026-07-01
    days on market $139,400 Active 51 DOM
31. 2026-06-30
    days on market $139,400 Active 50 DOM
32. 2026-06-29
    days on market $139,400 Active 49 DOM
33. 2026-06-28
    days on market $139,400 Active 48 DOM
34. 2026-06-28
    days on market $139,400 Active 47 DOM
35. 2026-06-27
    days on market $139,400 Active 46 DOM
36. 2026-06-25
    days on market $139,400 Active 44 DOM
37. 2026-06-23
    days on market $139,400 Active 42 DOM
38. 2026-06-22
    days on market $139,400 Active 41 DOM
39. 2026-06-18
    days on market $139,400 Active 38 DOM
40. 2026-06-17
    days on market $139,400 Active 37 DOM
41. 2026-06-16
    days on market $139,400 Active 36 DOM
42. 2026-06-15
    days on market $139,400 Active 35 DOM
43. 2026-06-14
    days on market $139,400 Active 33 DOM
44. 2026-06-13
    days on market $139,400 Active 32 DOM
45. 2026-06-10
    days on market $139,400 Active 30 DOM
46. 2026-06-09
    days on market $139,400 Active 29 DOM
47. 2026-06-08
    days on market $139,400 Active 28 DOM
48. 2026-06-07
    days on market $139,400 Active 27 DOM
49. 2026-06-02
    days on market $139,400 Active 22 DOM
50. 2026-06-01
    days on market $139,400 Active 21 DOM

ⓘ 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: $22,782
• − Mortgage interest: −$7,534
• − Property taxes: −$2,018
• − Insurance: −$672
• − Repairs & maintenance: −$1,823
• − Management: −$1,823
• − Depreciation: −$3,913
• Taxable income: $5,000
• Est. tax owed @ 24.0%: −$1,200
• After-tax cash flow: $5,644/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 Est. rehab $6,300–$18,900 screening

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 ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

Zoned Schools

Elementary Suquamish Elementary School Middle Kingston Middle School High Kingston High School

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

C Composite livability gradescore 69/100

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 · 277,525 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: 9% of renters

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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%

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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%

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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

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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

Property features AI

Finance

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

Exterior

• Parking: Carport
• Utilities: Electric energyPublic water (park provided)Park-provided sewerPuget Sound Energy serviceElectric water heater located in master closetCable: XfinityInternet: Xfinity
• Home design: Manufactured home (double wide)One levelEntry level: OneGood conditionMake: KentwoodMobile home remains in place
• Construction: Metal/vinyl construction materialsComposition roofMetal skirtTie down foundationManufactured after 6/15/1976
• Exterior features: Metal/vinyl exteriorPaved lotLandscapedPatio/porch/deck

Interior

• Kitchen: DishwasherRefrigeratorStove/Range
• Bedrooms: 2 bedrooms
• Flooring: LaminateCarpet
• Bathrooms: 2 full bathrooms2 bathtubs2 showers
• Heating & cooling: Ductless heatingForced air heatingCooling present
• Interior features: Water heaterCeiling fan(s)Double pane windowsWalk-in closetBath off primaryPatio/porch/deck
• Laundry & utility: WasherDryerUtility room

Price history

1 event — show timeline

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