18725 Hwy 108 #54 #54

Jamestown, CA 95327

$46,500B

3 bd · 1.0 ba · 720 sqft · Built 1979 · Manufactured · Pending · 27 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,612/mo
• Mortgage (P&I): −$244
• Tax + insurance: −$78
• HOA: −$0
• Vac / Maint / Mgmt: −$339
• Net cashflow: $952/mo
• Annual: $11,426/yr
• Cap rate: 30.86%
• Cash-on-cash: 87.75%
• DSCR: 4.90
• 1% rule: 3.47%
• Cash to close: $13,020

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $46k. Condition is rated poor.
• At list price, monthly cash flow is $952 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $46k).
• It's been on market 27 days — a 2% lower offer ($46k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $46k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $321 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 53/100 on livability (#980 in CA) — a working-class tenant base; expect higher turnover. Strengths: crime B; Watch: housing C-, cost of living D, amenities F.
• Sonora Union High (town): math 21% / reading 59% proficiency, ranked #243 of 517 in CA (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Jamestown Elementary (math 17% / reading 27%, grade F, #1,179 of 1,571 statewide, top 78%, 350 students, 75% FRL); Sonora High (math 27% / reading 67%, grade D-, #389 of 1,170 statewide, top 35%, 919 students, 36% FRL).
• Market conditions: 75 active listings in the ZIP; 60 units permitted in Tuolumne County in 2024 (0 in 5+ unit buildings).
• Tuolumne County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 7y 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 $12k; list at $46k implies a 288% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 30.9% vs local median 4.5% in Jamestown — 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.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: deck — Severe wear and tear
• Major: paint — Peeling paint