1477 W Grand Ave #46 · Grover Beach, CA 93433

$85,000

1 bd · 1.0 ba · 550 sqft · Manufactured · 40 Days on market

Built 1964 Good condition $155/sqft · 41% below area Est $145k · 41% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.5/10.0
• Condition / age +3.8/5.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Pacifico Del Amo, an all-ages community conveniently located in the heart of Grover Beach, just minutes from the beach, restaurants, shopping, and everyday amenities. This well-maintained 1-bedroom, 1-bath manufactured home offers a functional layout with living room, kitchen, and a cozy built-in seating area for dining. The interior has a warm coastal feel and a practical floor plan designed to make the most of the space. Outside, the home features a small private outdoor area with additional storage space, along with a covered carport for convenient parking. Located near shops, dining, and quick access to Highway 1, this is an excellent opportunity for affordable Central Coast

Key facts

• Covered carport
• Private outdoor area
• Convenient parking

Tags

• PRIVATE OUTDOOR AREA
• COVERED CARPORT
• CONVENIENT PARKING
• QUICK ACCESS TO HIGHWAY 1

Property features AI

Finance

• Other: Located in Grover Beach (subdivision 330); Directions: Off W. Grand Ave next to AutoZone
• Financial info: Land lease $1,495 per month (park-provided); Rent includes trash
• HOA & community: Park land lease; Community features include curbs and urban setting

Exterior

• Parking: Covered parking; Carport; Parking available in Pacifico Del Amo park
• Utilities: Public sewer; District/public water
• Home design: Single-story manufactured home (model MF); Mobile home remains; Estimated living area
• Construction: Mobile width 10 ft, length 55 ft; Year built from public records
• Exterior features: Patio; Aluminum skirt; Lot is level/flat; Has view

Interior

• Kitchen: Refrigerator; Gas range
• Bedrooms: Main floor bedroom
• Bathrooms: 1 full bathroom
• Interior features: One-level home; Side entry; Smoke detector
• Laundry & utility: No laundry on site

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $85k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.
• Cap rate 23.2% vs local median 2.1% in Grover Beach — 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 65/100 on livability (#378 in CA) — a middle-class / working-renter tenant base. Strengths: health & safety A+, employment B+; Watch: schools C-, amenities D, cost of living F.
• Lucia Mar Unified (town): math 42% / reading 56% proficiency, ranked #433 of 1,400 in CA (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 58 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,104 units permitted in San Luis Obispo County in 2024 (273 in 5+ unit buildings).
• This rent runs 31% of the median local income ($86k/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 $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• San Luis Obispo County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.

Recommended offer $82,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.65% ✓
• Cap rate: 23.16%
• Cash-on-cash: 60.24%
• DSCR: 3.68
• GRM: 3.1

CMA / ARV

• ARV (median comp): $145,000
• List price: $85,000
• Delta: -41.38%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 59.0%
• Equity multiple: 3.62×
• Total profit: $62,355
• Equity at exit: $12,674

10-year hold

• IRR: 63.8%
• Equity multiple: 7.40×
• Total profit: $152,421
• Equity at exit: $7,349

Cash invested: $23,800 (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 93433

• Active inventory: 58
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $2,256 high
• Mortgage (P&I): −$446
• Tax est. 1.5%: −$106 /mo · $1,275/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$474
• Net cashflow: $1,195

Break-even live

Break-even rent $744

Max offer price $85,000

Occupancy floor 42%

Sensitivity live

Price	-10% $1,254	-5% $1,224	+0% $1,195	+5% $1,165	+10% $1,136
Rent	-10% $1,017	-5% $1,106	+0% $1,195	+5% $1,284	+10% $1,373
Rate	-1.0pp $1,238	-0.5pp $1,216	base $1,195	+0.5pp $1,173	+1.0pp $1,150

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
538 N 16th St Apt A Grover Beach, CA	2.0	1.0	750	$2,300	$3.07	44d	1	0.31mi
450 Manhattan Ave Grover Beach, CA	2.0	1.0	700	$2,700	$3.86	22d	1	0.78mi
108 Erna Way Pismo Beach, CA	1.0	1.0	550	$2,600	$4.73	44d	1	0.94mi
1480 S 13th St Unit 1480B Oceano, CA	1.0	1.0	500	$1,650	$3.30	14d	1	1.31mi
230 S Alpine St Unit 04 Arroyo Grande, CA	—	1.0	400	$1,900	$4.75	24d	1	1.43mi

Listing history 16 events

1. 2026-06-18
   days on market $85,000 Active 40 DOM
2. 2026-06-17
   days on market $85,000 Active 39 DOM
3. 2026-06-16
   days on market $85,000 Active 38 DOM
4. 2026-06-15
   days on market $85,000 Active 37 DOM
5. 2026-06-14
   days on market $85,000 Active 35 DOM
6. 2026-06-13
   days on market $85,000 Active 34 DOM
7. 2026-06-10
   days on market $85,000 Active 32 DOM
8. 2026-06-09
   days on market $85,000 Active 31 DOM
9. 2026-06-08
   days on market $85,000 Active 30 DOM
10. 2026-06-07
    days on market $85,000 Active 29 DOM
11. 2026-06-03
    days on market $85,000 Active 25 DOM
12. 2026-06-02
    days on market $85,000 Active 24 DOM
13. 2026-06-01
    days on market $85,000 Active 23 DOM
14. 2026-05-31
    days on market $85,000 Active 22 DOM
15. 2026-05-30
    days on market $85,000 Active 21 DOM
16. 2026-05-09
    listed $85,000 Active 749-char remark

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥80°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 9 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,071
• − Mortgage interest: −$4,761
• − Property taxes: −$1,275
• − Insurance: −$425
• − Repairs & maintenance: −$2,166
• − Management: −$2,166
• − Depreciation: −$2,473
• Taxable income: $13,806
• Est. tax owed @ 24.0%: −$3,313
• After-tax cash flow: $11,024/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 · 9 photos

Good 75/100 Cosmetic rehab

This well-maintained manufactured home offers a functional layout with good curb appeal and potential for modest cosmetic updates to enhance its resale value.

Repairs flagged

• Moderate kitchen cabinets — dated and worn
• Moderate bathroom vanity — dated and worn
• Minor kitchen appliances — slightly outdated

Value-add opportunities

• Resale paint interior walls — fresh paint enhances curb appeal
• Resale replace kitchen countertops — new countertops improve functionality and aesthetics
• Resale update bathroom fixtures — modern fixtures increase appeal and functionality

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and worn	Moderate	$3,000–15,000
bathroom vanity · dated and worn	Moderate	$3,000–15,000
kitchen appliances · slightly outdated	Minor	$500–3,000
Total estimated repair cost · 3 items		$6,500–33,000

Value-add ROI direction

• Resale paint interior walls — fresh paint enhances curb appeal ↑
• Resale replace kitchen countertops — new countertops improve functionality and aesthetics ↑
• Resale update bathroom fixtures — modern fixtures increase appeal and functionality ↑

ⓘ 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: Lucia Mar Unified
• NCES district ID: 0623080
• Math proficiency: 42% ▲ 3.00%
• Reading proficiency: 56% ▲ 2.00%
• Median HH income: $62,681
• Composite: 45.19/100
• National rank: #5782
• State rank: #433 of 1400 in CA

Livability — Grover Beach

• Score: 65/100
• State rank: #378
• US rank: #12927

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grover Beach, CA
• County: San Luis Obispo County · 224,651 people
• City population: 12,600
• Metro: San Luis Obispo-Paso Robles, CA
• Population (ZIP): 12,600
• Household income: $86,458
• Rent vs Own: 49.5% rent · 50.5% own
• Severe rent burden: 617.0

Population outlook (San Luis Obispo County) Hauer SSP2

• Today (2025): 306,977 people
• By 2030: 320,378 · +4.4%
• By 2040: 343,933 · +12.0%
• By 2050: 366,853 · +19.5%
• By 2075: 428,329 · +39.5%
• By 2100: 460,687 · +50.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 55% Hispanic / Latino 38% Two or more races 23% Asian 2% Native American 1% Black 1%
• Hispanic origin (detail): Mexican 33%
• Common ancestry: Lithuanian 6% Slovak 4% Russian 3%
• Foreign-born: 12% · Canada
• Languages at home: 72% English-only · Spanish 25% Other Asian/Pacific 1% Arabic 1%

Political lean MEDSL · San Luis Obispo

• 2024 margin: D (+10.9) · D 53.9% · R 43.1% · Other 3.0%
• 2008→2024 swing: +5.5pp toward D · 2008: 5.4pp · 2024: 10.9pp
• All cycles: 2024: D+10.9 2020: D+13.1 2016: D+8.3 2012: D+1.0 2008: D+5.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -627.38%
• Current HPI: 398.2644
• Rent YoY: —
• Metro: San Luis Obispo-Paso Robles, 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

1 event — show timeline

• 2026-05-09 Listed $85,000 CRMLS