20 Russel Rd #119 · Salinas, CA 93906

$151,000

3 bd · 1.0 ba · 936 sqft · Manufactured · 62 Days on market

Built 1965 Fair condition Est $144k · at est.

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +5.4/15.0
• Rent growth +3.7/5.0
• Livability +3.2/5.0
• Schools +3.0/10.0
• Condition / age +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Cal Hawaiian Mobile Home Park! Dont miss this opportunity at 20 Russell Rd #119 one of the lowest-priced homes in the area! This mobile home needs some work, but thats exactly where the value is Perfect for first-time buyers!!! Opportunities like this don't last!!!

Key facts

• Built 1965
• Listed 62 days

Property features AI

Finance

• Other: Park site identified as leased land; Property primary ID: 742975; Section serial number: C2250
• HOA & community: Community pool; Club house; Playground; Indoor half basketball court; Barbecue area; Common utility room

Exterior

• Parking: Carport (space #119, space rent $1,600)
• Utilities: Public water; Public sewer; Public utilities
• Home design: Leased land (park home site)
• Exterior features: Rolled composition roof; Living area approximately 936 (source: assessor)

Interior

• Kitchen: Microwave; Electric oven/range; Refrigerator
• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall furnace heating
• Interior features: Laundry room with hookups
• Laundry & utility: Washer/dryer hookups

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $151k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $151k).
• Recommended offer: $142k (6.0% below list) — sets the bar for market timing.
• Cap rate 16.7% vs local median 2.7% in Salinas — 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 63/100 on livability (#465 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, employment B+; Watch: schools F, crime D-, amenities F.
• Salinas Union High (urban): math 23% / reading 39% proficiency, ranked #998 of 1,400 in CA (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.9%/yr); 45 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 530 units permitted in Monterey County in 2024 (50 in 5+ unit buildings).
• This rent runs 37% of the median local income ($98k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Monterey County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 4.9% rent growth), your $42k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($142k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $141,940 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is D 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. 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.
9. 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.
10. 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: 1.97% ✓
• Cap rate: 16.67%
• Cash-on-cash: 37.07%
• DSCR: 2.65
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $144,144
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12350 Christensen Rd #75	0.69mi	2/1.5 (-1)	912 (-3%)	9mo	$140,000	$154	49
12350 Christensen Rd #104	0.69mi	2/1.0 (-1)	940 (+0%)	19mo	$80,000	$85	46

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 · 4.87% rent growth · sell at horizon

5-year hold

• IRR: 35.1%
• Equity multiple: 2.52×
• Total profit: $64,470
• Equity at exit: $22,515

10-year hold

• IRR: 42.9%
• Equity multiple: 5.44×
• Total profit: $187,749
• Equity at exit: $13,056

Cash invested: $42,280 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 93906

• Rents YoY: 4.9%
• Active inventory: 45
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $2,974 high
• Mortgage (P&I): −$792
• Tax est. 1.5%: −$189 /mo · $2,265/yr
• Insurance: −$63
• HOA: −$0
• Vacancy / Maint / Mgmt: −$625
• Net cashflow: $1,306

Break-even live

Break-even rent $1,321

Max offer price $151,000

Occupancy floor 51%

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: $37,750
• Closing costs: $4,530
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2402 N Main St Salinas, CA	2.0	1.0	900	$2,500	$2.78	14d	1	0.15mi
2290 N Main St Salinas, CA	1.0–3.0	1.0–2.0	985	$3,611	$3.67	2d	13	0.26mi
2198 Brutus St Salinas, CA	1.0–2.0	1.0–1.5	893	$2,645	$2.96	8d	2	0.43mi
18854 Eisenhower St Unit 18854p Salinas, CA	2.0	1.0	1000	$2,700	$2.70	14d	1	0.58mi
2073 Santa Rita St Salinas, CA	2.0	1.0	492	$2,593	$5.26	3d	13	0.61mi
93 Castro St Salinas, CA	2.0	1.0–2.0	828	$2,400	$2.90	12d	3	0.63mi
306 England Ave Salinas, CA	3.0	2.0	1104	$3,500	$3.17	14d	1	0.68mi
1823 Cherokee Dr Salinas, CA	3.0	1.5	952	$3,295	$3.46	14d	1	1.35mi

Listing history 17 events

1. 2026-06-18
   days on market $151,000 Active 62 DOM
2. 2026-06-17
   days on market $151,000 Active 61 DOM
3. 2026-06-16
   days on market $151,000 Active 60 DOM
4. 2026-06-15
   days on market $151,000 Active 59 DOM
5. 2026-06-14
   days on market $151,000 Active 57 DOM
6. 2026-06-13
   days on market $151,000 Active 56 DOM
7. 2026-06-10
   days on market $151,000 Active 54 DOM
8. 2026-06-09
   days on market $151,000 Active 53 DOM
9. 2026-06-08
   days on market $151,000 Active 52 DOM
10. 2026-06-07
    days on market $151,000 Active 51 DOM
11. 2026-06-03
    days on market $151,000 Active 47 DOM
12. 2026-06-02
    days on market $151,000 Active 46 DOM
13. 2026-06-01
    days on market $151,000 Active 45 DOM
14. 2026-05-31
    days on market $151,000 Active 44 DOM
15. 2026-05-30
    days on market $151,000 Active 43 DOM
16. 2026-04-17
    listed $151,000 Active 276-char remark

    Show marketing remark (276 chars)

    Welcome to Cal Hawaiian Mobile Home Park! Dont miss this opportunity at 20 Russell Rd #119 one of the lowest-priced homes in the area! This mobile home needs some work, but thats exactly where the value is Perfect for first-time buyers!!! Opportunities like this don't last!!!

17. 2026-04-17
    listed $151,000 Active 276-char remark

    Show marketing remark (276 chars)

    Welcome to Cal Hawaiian Mobile Home Park! Dont miss this opportunity at 20 Russell Rd #119 one of the lowest-priced homes in the area! This mobile home needs some work, but thats exactly where the value is Perfect for first-time buyers!!! Opportunities like this don't last!!!

ⓘ 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 4/10 Moderate FEMA zone X (shaded) · 22% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 6 d/yr ≥81°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 11 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,692
• − Mortgage interest: −$8,458
• − Property taxes: −$2,265
• − Insurance: −$755
• − Repairs & maintenance: −$2,855
• − Management: −$2,855
• − Depreciation: −$4,393
• Taxable income: $14,110
• Est. tax owed @ 24.0%: −$3,386
• After-tax cash flow: $12,288/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 · 1 photo

Fair 40/100 Moderate rehab

This manufactured home requires moderate repairs and maintenance to improve its condition and increase its resale and rental value.

Repairs flagged

• Major exterior siding — Severe weathering and peeling
• Major interior walls — Significant peeling paint
• Major landscaping — Overgrown vegetation

Value-add opportunities

• Both paint exterior — Enhances curb appeal and resale value
• Both paint interior walls — Improves interior appearance and resale value
• Both trim landscaping — Enhances curb appeal and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Severe weathering and peeling	Major	$15,000–50,000
interior walls · Significant peeling paint	Major	$15,000–50,000
landscaping · Overgrown vegetation	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both paint exterior — Enhances curb appeal and resale value ↑
• Both paint interior walls — Improves interior appearance and resale value ↑
• Both trim landscaping — Enhances curb appeal and rental 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: Salinas Union High
• NCES district ID: 0633980
• Math proficiency: 23% ▲ 2.00%
• Reading proficiency: 39% ▲ 1.00%
• Median HH income: $50,670
• Composite: 29.86/100
• National rank: #11691
• State rank: #998 of 1400 in CA

Livability — Salinas

• Score: 63/100
• State rank: #465
• US rank: #15876

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Salinas, CA
• County: Monterey County · 241,191 people
• City population: 119,069
• Metro: Salinas, CA
• Population (ZIP): 64,199
• Household income: $97,555
• Rent vs Own: 45.7% rent · 54.3% own
• Severe rent burden: 1736.0

Population outlook (Monterey County) Hauer SSP2

• Today (2025): 458,436 people
• By 2030: 469,418 · +2.4%
• By 2040: 489,615 · +6.8%
• By 2050: 506,696 · +10.5%
• By 2075: 531,048 · +15.8%
• By 2100: 519,153 · +13.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (76%)
• Race & ethnicity: Hispanic / Latino 76% Two or more races 13% White 13% Asian 7% Black 2%
• Hispanic origin (detail): Mexican 70% Salvadoran 1%
• Common ancestry: Russian 1% Italian 1% Romanian 1%
• Foreign-born: 33% · Canada, China
• Languages at home: 33% English-only · Spanish 60% Tagalog/Filipino 2% Chinese 1%

Political lean MEDSL · Monterey

• 2024 margin: Strong D (+29.9) · D 63.4% · R 33.5% · Other 3.0%
• 2008→2024 swing: -8.4pp toward R · 2008: 38.3pp · 2024: 29.9pp
• All cycles: 2024: D+29.9 2020: D+41.3 2016: D+39.7 2012: D+33.9 2008: D+38.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -690.60%
• Current HPI: 262.5003
• Rent YoY: ▲ 4.87%
• Metro: Salinas, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

+0.0% since first listed

2 events — show timeline

• 2026-04-17 Listed $151,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-04-17 Listed $151,000 MLSListings