121 Full Cir · Davis, CA 95618

$239,000

2 bd · 2.0 ba · 1,248 sqft · Manufactured · 18 Days on market

Built 1974 Good condition Est $255k · 6% 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 +22.0/30.0
• ARV discount +10.3/15.0
• Schools +7.1/10.0
• DSCR +7.0/10.0
• 1% rule +5.8/10.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Experience comfortable living in the highly regarded Rancho Yolo Senior Community, one of Davis's most desirable active adult neighborhoods. This well-maintained manufactured home offers two bedrooms and two bathrooms in a functional and inviting layout. Bright and spacious living room and dining area with a welcoming atmosphere. Conveniently designed kitchen with easy access to main living spaces. Primary bedroom with walk in closet and an in-suite bathroom. Thoughtfully arranged floor plan for comfort and livability. Rancho Yolo offers a vibrant lifestyle with a wide range of amenities: Clubhouse for gatherings and activities. Two swimming pools, including an adult-only pool with hot tub.

Key facts

• Adult only pool
• In suite bathroom
• Walk in closet

Tags

• FUNCTIONAL AND INVITING LAYOUT
• CONVENIENTLY DESIGNED KITCHEN
• WALK IN CLOSET
• IN SUITE BATHROOM
• CLUBHOUSE FOR GATHERINGS
• ADULT ONLY POOL

Property features AI

Finance

• Financial info: Land lease: Yes — $850
• HOA & community: Not part of an association; Senior community

Exterior

• Parking: 2 parking spaces; Off-street parking; Covered parking; Guest parking available
• Utilities: Cable available; Individual electric meter; Individual gas meter; Public water; Public sewer
• Home design: Manufactured in park (double wide); Updated/remodeled; Vinyl skirting; Bendex make; Built in 1974
• Construction: Shingle and metal roof
• Exterior features: Patio awning; Carport awning; Backyard; Close to clubhouse; Regular-shaped lot; Front and back landscaping; Shed(s)

Interior

• Kitchen: Free standing gas range; Free standing refrigerator; Dishwasher; Disposal; Microwave; Pantry closet
• Bedrooms: 2 bedrooms
• Flooring: Simulated wood flooring
• Bathrooms: 2 full bathrooms; Tub with shower over; Shower stall(s)
• Heating & cooling: Central heating; Central cooling; Ceiling fan(s)
• Interior features: Screened-in patio; Dual-pane full windows; Pantry closet; Formal dining area; Living room with additional features
• Laundry & utility: Laundry closet with electric and gas hook-up; Stacked washer/dryer included; 220V in laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $239k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $379 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $239k).
• Recommended offer: $235k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 2.0% in Davis — 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 78/100 on livability (#71 in CA, #2,713 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, amenities A+, commute A+; Watch: cost of living F.
• Davis Joint Unified (suburban): math 76% / reading 89% proficiency, ranked #28 of 517 in CA (top 5%) — strong family-tenant draw, lease renewals of 3-5y typical; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: Rents soft (-0.9%/yr); 96 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 721 units permitted in Yolo County in 2024 (260 in 5+ unit buildings).

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.
• Yolo County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($235k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 6→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $235,415 (1.5% below list)

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-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?
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: 1.08% ✓
• Cap rate: 8.20%
• Cash-on-cash: 6.80%
• DSCR: 1.30
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $254,592
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
141 Inner Cir	0.07mi	2/2.0	1,344 (+8%)	10mo	$175,000	$130	76
96 Full Cir	0.08mi	3/2.0 (+1)	1,344 (+8%)	5mo	$293,000	$218	74
156 Inner Cir	0.08mi	2/2.0	1,152 (-8%)	22mo	$88,000	$76	66
252 Quarter Cir	0.11mi	3/2.0 (+1)	1,344 (+8%)	17mo	$274,000	$204	63

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -9.3%
• Equity multiple: 0.67×
• Total profit: $-22,077
• Equity at exit: $35,636

10-year hold

• IRR: -4.5%
• Equity multiple: 0.74×
• Total profit: $-17,090
• Equity at exit: $20,664

Cash invested: $66,920 (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 95618

• Rents YoY: -0.9%
• Active inventory: 96
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,571 high
• Mortgage (P&I): −$1,253
• Tax est. 1.5%: −$299 /mo · $3,585/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$540
• Net cashflow: $379

Break-even live

Break-even rent $2,091

Max offer price $239,000

Occupancy floor 80%

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: $59,750
• Closing costs: $7,170
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2505 5th St Davis, CA	3.0	2.5	1459	$3,153	$2.16	43d	1	0.21mi
2505 5th St Davis, CA	1.0	1.0	712	$1,908	$2.68	17d	1	0.21mi
771 Pole Line Rd Davis, CA	1.0–2.0	1.0	750	$1,995	$2.66	43d	2	0.22mi
709 Adeline Pl Davis, CA	3.0	2.0	1250	$3,400	$2.72	14d	1	0.28mi
709 Adeline Pl Davis, CA	3.0	2.0	1250	$2,890	$2.31	4d	1	0.28mi
1805 E 8th St Davis, CA	2.0	1.0	850	$1,995	$2.35	23d	3	0.37mi
1615 E 8th St Davis, CA	2.0–3.0	1.0–1.5	865	$1,645	$1.90	3d	6	0.46mi
1143 Greene Ter Davis, CA	2.0	2.0	946	$2,850	$3.01	21d	1	0.53mi
2200 Whittier Dr Davis, CA	3.0	1.0	1000	$3,100	$3.10	43d	1	0.58mi
516 K St Unit A Davis, CA	3.0	1.0	940	$2,300	$2.45	7d	1	0.64mi
516 K St Unit C Davis, CA	2.0	1.0	800	$2,000	$2.50	7d	1	0.64mi
2701 Lillard Dr Davis, CA	3.0	2.0	1425	$3,200	$2.25	43d	1	0.68mi
300 J St Davis, CA	1.0–2.0	1.0	660	$2,245	$3.40	1d	16	0.73mi
1280 Olive Dr Davis, CA	1.0	1.0	724	$2,295	$3.17	20d	1	0.73mi
505 I St Davis, CA	1.0–2.0	1.0	675	$2,100	$3.11	43d	3	0.79mi
717 I St Davis, CA	3.0	2.0	1172	$3,650	$3.11	17d	1	0.80mi
401 I St Davis, CA	2.0	1.0	785	$1,995	$2.54	4d	1	0.80mi
1540 Valdora St Davis, CA	2.0–4.0	1.5–2.0	1225	$2,199	$1.80	12d	38	0.80mi
1880 Cowell Blvd Davis, CA	2.0	2.0	1080	$2,499	$2.31	43d	1	0.83mi
1880 Cowell Blvd Davis, CA	3.0	2.0	1300	$3,399	$2.61	17d	1	0.83mi
1100 Olive Dr Unit 236 Davis, CA	2.0	2.0	1033	$3,085	$2.99	43d	1	0.88mi
1617 Valdora St Davis, CA	3.0	3.0	1450	$3,395	$2.34	7d	1	0.90mi
1660 Drew Cir Davis, CA	2.0–4.0	1.0–2.5	1262	$1,894	$1.50	11d	32	0.92mi
801 2nd St Unit 301 Davis, CA	1.0	1.5	1259	$3,000	$2.38	43d	1	0.94mi
1659 Drew Cir Davis, CA	3.0–4.0	2.0	1293	$1,100	$0.85	1d	23	0.95mi
1736 Valdora St Davis, CA	3.0	2.0	987	$3,400	$3.44	3d	1	0.99mi
3028 Bryant Pl Davis, CA	1.0	1.0	1380	$850	$0.62	7d	1	1.01mi
811 F St Davis, CA	1.0–2.0	1.0	825	$2,595	$3.15	14d	1	1.02mi
514 10th St Unit 516 Davis, CA	2.0	1.0	800	$1,950	$2.44	12d	1	1.08mi
647 D St Unit 408-A Davis, CA	1.0	1.0	750	$1,595	$2.13	10d	1	1.11mi
3820 Chiles Rd Davis, CA	3.0	1.0–2.0	995	$3,140	$3.16	43d	1	1.11mi
1703 Donner Ave #3 Davis, CA	2.0	1.0	903	$2,100	$2.33	43d	1	1.12mi
4005 Cowell Blvd Davis, CA	1.0–2.0	1.0–2.0	838	$2,400	$2.86	1d	7	1.15mi
311 7th St Davis, CA	2.0	1.0	750	$2,099	$2.80	43d	1	1.18mi
2810 Pole Line Rd #3 Davis, CA	2.0	1.0	903	$2,350	$2.60	14d	1	1.19mi
2861 Bidwell St #4 Davis, CA	2.0	1.0	819	$2,050	$2.50	17d	1	1.21mi
2390 Roualt St Davis, CA	3.0	2.0	1235	$3,400	$2.75	17d	1	1.23mi
2842 Bidwell St Davis, CA	2.0	1.0	1012	$1,995	$1.97	7d	1	1.23mi
4141 Cowell Blvd Davis, CA	1.0–2.0	1.0–2.0	838	$2,395	$2.86	4d	6	1.28mi
207 3rd St Unit 320 Davis, CA	2.0	1.0	750	$2,995	$3.99	43d	1	1.33mi

Listing history 14 events

1. 2026-06-18
   days on market $239,000 Active 18 DOM
2. 2026-06-17
   days on market $239,000 Active 17 DOM
3. 2026-06-16
   days on market $239,000 Active 16 DOM
4. 2026-06-15
   days on market $239,000 Active 15 DOM
5. 2026-06-13
   days on market $239,000 Active 13 DOM
6. 2026-06-13
   days on market $239,000 Active 12 DOM
7. 2026-06-09
   days on market $239,000 Active 9 DOM
8. 2026-06-08
   days on market $239,000 Active 8 DOM
9. 2026-06-07
   days on market $239,000 Active 7 DOM
10. 2026-06-05
    days on market $239,000 Active 4 DOM
11. 2026-06-03
    days on market $239,000 Active 3 DOM
12. 2026-06-02
    days on market $239,000 Active 2 DOM
13. 2026-06-01
    remarks 699-char remark
14. 2026-06-01
    listed $239,000 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 3/10 Moderate FEMA zone X (unshaded) · 7% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 6 d/yr ≥103°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 27 unhealthy d/yr today · 29 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,847
• − Mortgage interest: −$13,388
• − Property taxes: −$3,585
• − Insurance: −$1,195
• − Repairs & maintenance: −$2,468
• − Management: −$2,468
• − Depreciation: −$6,953
• Taxable income: $791
• Est. tax owed @ 24.0%: −$190
• After-tax cash flow: $4,359/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 well-maintained manufactured home in Rancho Yolo Senior Community is move-in ready with a good condition score and minimal repairs needed.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Clean gutters — Improves drainage and property value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Clean gutters — Improves drainage and property 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: Davis Joint Unified
• NCES district ID: 0610620
• Math proficiency: 76% ▲ 11.00%
• Reading proficiency: 89% ▲ 17.00%
• Median HH income: $58,551
• Composite: 70.5/100
• National rank: #261
• State rank: #28 of 517 in CA

Livability — Davis

• Score: 78/100
• State rank: #71
• US rank: #2713

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Davis, CA
• County: Yolo County · 212,115 people
• City population: 79,897
• Metro: Sacramento-Roseville-Folsom, CA
• Population (ZIP): 26,267
• Household income: $115,591
• Rent vs Own: 44.2% rent · 55.8% own
• Severe rent burden: 1441.0

Population outlook (Yolo County) Hauer SSP2

• Today (2025): 242,183 people
• By 2030: 257,662 · +6.4%
• By 2040: 288,050 · +18.9%
• By 2050: 318,202 · +31.4%
• By 2075: 392,736 · +62.2%
• By 2100: 438,150 · +80.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 50% Asian 24% Hispanic / Latino 18% Two or more races 11% Black 3% Native American 1%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Italian 7% Portuguese 2% Slovak 2%
• Foreign-born: 24% · China, Canada, South Korea
• Languages at home: 68% English-only · Spanish 11% Chinese 10% Other Indo-European 4%

Political lean MEDSL · Yolo

• 2024 margin: Solid D (+36.2) · D 66.3% · R 30.1% · Other 3.6%
• 2008→2024 swing: 0.0pp no change · 2008: 36.2pp · 2024: 36.2pp
• All cycles: 2024: D+36.2 2020: D+41.4 2016: D+42.0 2012: D+33.2 2008: D+36.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -545.15%
• Current HPI: 291.2054
• Rent YoY: ▼ -0.92%
• Metro: Sacramento-Roseville-Folsom, 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