54 Kay Dr · Vallejo, CA 94590

$235,000

2 bd · 2.0 ba · 1,344 sqft · Manufactured · 17 Days on market

Good condition Est $181k · 30% over ↓ 10% since listing

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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 +21.2/30.0
• DSCR +6.8/10.0
• 1% rule +5.6/10.0
• Condition / age +4.0/5.0
• Livability +3.4/5.0
• Rent growth +2.7/5.0
• Schools +2.6/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

You will love this manufactured home located in highly desirable Carquinez Highlands Mobile Home Park. Beautifully remolded 2 bedroom 2 bathroom, with brand new open concept kitchen with island, newer flooring throughout home, fresh paint, beautiful sunroom great for reading/storage, washer & dryer hookups, spacious living room, dining room & bedrooms, parking can fit up to 4 cars comfortably.

Key facts

• Quartz countertops
• Remodeled kitchen
• Abundant storage

Tags

• REMODELED KITCHEN
• WHITE SHAKER CABINETRY
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• ABUNDANT STORAGE
• SPACIOUS CENTER ISLAND

Property features AI

Finance

• HOA & community: Pets allowed; Community clubhouse; Community pool

Exterior

• Parking: Carport
• Utilities: Public water; Public sewer
• Home design: Manufactured in park (mobile home); Double wide
• Construction: Aluminum siding
• Exterior features: Front yard; Back yard; Level lot

Interior

• Kitchen: Stone counters; Kitchen island; Garbage disposal; Gas range / cooktop; Updated kitchen
• Bedrooms: 2 bedrooms
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Heat pump cooling
• Interior features: Updated kitchen; Window coverings; No additional bonus rooms
• Laundry & utility: Laundry room with washer and dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $235k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $341 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $235k).
• Recommended offer: $231k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 3.1% in Vallejo — 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 67/100 on livability (#304 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: schools D-, crime F, cost of living F.
• Vallejo City Unified (urban): math 20% / reading 30% proficiency, ranked #1,124 of 1,400 in CA (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 176 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,472 units permitted in Solano County in 2024 (131 in 5+ unit buildings).
• At $2,487/mo this rent would consume 46% of the median local household income ($65k/yr) (locally 2972% 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Solano County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($231k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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.

Recommended offer $231,475 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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?
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: 1.06% ✓
• Cap rate: 8.03%
• Cash-on-cash: 6.21%
• DSCR: 1.28
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $181,440
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
116 Kay Dr	0.06mi	2/2.0	1,440 (+7%)	1mo	$192,000	$133	84
87 Gloria Ct	0.18mi	2/2.0	1,440 (+7%)	2mo	$255,000	$177	78
92 Karen Ct	0.07mi	3/2.0 (+1)	1,400 (+4%)	10mo	$215,000	$154	76
175 Freida Cir	0.23mi	2/2.0	1,440 (+7%)	2mo	$235,000	$163	76
173 Frieda Cir	0.24mi	2/2.0	1,440 (+7%)	2mo	$199,000	$138	75
20 Constance Dr	0.26mi	2/2.0	1,440 (+7%)	1mo	$190,000	$132	75
24 Constance Dr	0.28mi	2/2.0	1,440 (+7%)	2mo	$115,000	$80	73
123 Phyllis Ct #123	0.05mi	3/2.0 (+1)	1,440 (+7%)	10mo	$195,000	$135	72
30 Constance Dr	0.27mi	2/2.0	1,440 (+7%)	4mo	$185,000	$128	72
80 Gloria Ct	0.12mi	2/2.0	1,440 (+7%)	13mo	$170,000	$118	72
145 Ann Ct	0.10mi	2/2.0	1,152 (-14%)	7mo	$189,000	$164	66
83 Gloria Ct	0.15mi	2/2.0	1,536 (+14%)	11mo	$128,500	$84	60

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: -9.3%
• Equity multiple: 0.67×
• Total profit: $-21,944
• Equity at exit: $35,039

10-year hold

• IRR: -3.3%
• Equity multiple: 0.80×
• Total profit: $-12,971
• Equity at exit: $20,319

Cash invested: $65,800 (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 94590

• Rents YoY: 0.7%
• Active inventory: 176
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,487 high
• Mortgage (P&I): −$1,232
• Tax est. 1.5%: −$294 /mo · $3,525/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$522
• Net cashflow: $341

Break-even live

Break-even rent $2,056

Max offer price $235,000

Occupancy floor 81%

Sensitivity live

Price	-10% $503	-5% $422	+0% $341	+5% $260	+10% $178
Rent	-10% $144	-5% $242	+0% $341	+5% $439	+10% $537
Rate	-1.0pp $459	-0.5pp $400	base $341	+0.5pp $280	+1.0pp $218

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
136 Sea Crest Cir Vallejo, CA	2.0	1.0	900	$2,350	$2.61	44d	1	0.35mi
206 Sea Crest Cir Vallejo, CA	2.0	2.5	1464	$2,595	$1.77	44d	1	0.38mi
706 La Canyada Dr Vallejo, CA	3.0	2.0	1075	$2,799	$2.60	14d	1	0.58mi
1201 Glen Cove Pkwy Vallejo, CA	2.0	2.0	1038	$2,150	$2.07	44d	2	0.73mi
1201 Glen Cove Pkwy Vallejo, CA	2.0	2.0	1100	$2,350	$2.14	24d	2	0.73mi
532 Magazine St Vallejo, CA	1.0–2.0	1.0–2.0	792	$2,888	$3.65	25d	12	0.74mi
532 Magazine St Vallejo, CA	2.0	2.0	762	$3,188	$4.18	0d	9	0.74mi
532 Magazine St Vallejo, CA	2.0	1.0–2.0	792	$2,988	$3.77	4d	11	0.74mi
115 James River Rd Vallejo, CA	3.0	2.5	1472	$2,850	$1.94	13d	1	0.74mi
961 Porter St Vallejo, CA	2.0–3.0	1.0–3.0	1159	$2,406	$2.08	0d	11	0.74mi
924 Palou St Vallejo, CA	3.0	1.0	966	$2,500	$2.59	24d	1	0.78mi
1201 Glen Cove Pkwy #1407 Vallejo, CA	2.0	2.0	1101	$2,400	$2.18	17d	1	0.78mi
1201 Glen Cove Pkwy #1407 Vallejo, CA	2.0	2.0	1101	$2,400	$2.18	0d	1	0.78mi
929 6th St Vallejo, CA	3.0	2.0	1414	$2,600	$1.84	44d	1	0.84mi
962 Pine St Vallejo, CA	3.0	2.0	1000	$3,200	$3.20	44d	1	0.85mi
108 Esa Dr Vallejo, CA	3.0	2.0	1196	$2,200	$1.84	44d	1	0.91mi
551 5th St Vallejo, CA	3.0	1.0	1000	$2,550	$2.55	24d	1	1.23mi
217 Foulkstone Way Vallejo, CA	3.0	2.0	1514	$3,250	$2.15	44d	1	1.32mi

Listing history 13 events

1. 2026-06-18
   days on market $235,000 Active 17 DOM
2. 2026-06-17
   days on market $235,000 Active 16 DOM
3. 2026-06-16
   days on market $235,000 Active 15 DOM
4. 2026-06-15
   days on market $235,000 Active 14 DOM
5. 2026-06-14
   days on market $235,000 Active 12 DOM
6. 2026-06-10
   days on market $235,000 Active 9 DOM
7. 2026-06-09
   days on market $235,000 Active 8 DOM
8. 2026-06-08
   days on market $235,000 Active 7 DOM
9. 2026-06-07
   days on market $235,000 Active 6 DOM
10. 2026-06-05
    days on market $235,000 Active 3 DOM
11. 2026-06-03
    days on market $235,000 Active 2 DOM
12. 2026-06-02
    remarks 699-char remark
13. 2026-06-02
    listed $235,000 Active 1 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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥93°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 16 unhealthy d/yr today · 17 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,844
• − Mortgage interest: −$13,164
• − Property taxes: −$3,525
• − Insurance: −$1,175
• − Repairs & maintenance: −$2,388
• − Management: −$2,388
• − Depreciation: −$6,836
• Taxable income: $369
• Est. tax owed @ 24.0%: −$89
• After-tax cash flow: $4,000/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 · 12 photos

Good 80/100 Cosmetic rehab

This beautifully updated 2-bedroom, 2-bathroom home offers a bright, open floor plan with modern finishes and low-maintenance living in a desirable Vallejo community.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract potential buyers
• Rental HVAC system maintenance — A well-maintained HVAC system can attract renters and reduce utility costs

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract potential buyers ↑
• Rental HVAC system maintenance — A well-maintained HVAC system can attract renters and reduce utility costs ↑

ⓘ 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: Vallejo City Unified
• NCES district ID: 0640740
• Math proficiency: 20% ▬ 0.00%
• Reading proficiency: 30% ▬ 0.00%
• Median HH income: $59,919
• Composite: 26.02/100
• National rank: #12743
• State rank: #1124 of 1400 in CA

Livability — Vallejo

• Score: 67/100
• State rank: #304
• US rank: #10215

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vallejo, CA
• County: Solano County · 433,239 people
• City population: 125,311
• Metro: Vallejo, CA
• Population (ZIP): 37,128
• Household income: $65,290
• Rent vs Own: 57.6% rent · 42.4% own
• Severe rent burden: 2972.0

Population outlook (Solano County) Hauer SSP2

• Today (2025): 478,685 people
• By 2030: 497,974 · +4.0%
• By 2040: 528,515 · +10.4%
• By 2050: 549,115 · +14.7%
• By 2075: 587,229 · +22.7%
• By 2100: 571,378 · +19.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.77)
• Race & ethnicity: Hispanic / Latino 32% White 26% Black 21% Two or more races 14% Asian 13% Native American 1%
• Hispanic origin (detail): Mexican 23%
• Common ancestry: Lithuanian 2% Italian 1% Romanian 1%
• Foreign-born: 25% · Canada, South Korea, China
• Languages at home: 65% English-only · Spanish 21% Tagalog/Filipino 9% Other Indo-European 1%

Political lean MEDSL · Solano

• 2024 margin: Strong D (+23.0) · D 60.0% · R 37.1% · Other 2.9%
• 2008→2024 swing: -5.6pp toward R · 2008: 28.6pp · 2024: 23.0pp
• All cycles: 2024: D+23.0 2020: D+30.3 2016: D+30.5 2012: D+28.1 2008: D+28.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -530.45%
• Current HPI: 321.0365
• Rent YoY: ▲ 0.71%
• Metro: Vallejo, 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

-9.6% since first listed

6 events — show timeline

• 2026-06-01 Listed $235,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2023-01-04 Price Changed $2,000 BAREIS
• 2023-01-04 Sold (MLS) $220,000 BAREIS
• 2022-11-08 Pending — BAREIS
• 2022-11-08 Price Changed $220,000 BAREIS
• 2022-10-23 Listed $260,000 BAREIS