314 N Albert Ave #39 · Exeter, CA 93221

$39,000

1 bd · 1.0 ba · 720 sqft · Manufactured · 74 Days on market

Built 1972 Good condition $54/sqft · 27% above area Est $31k · 27% over ↓ 40% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Condition / age +4.0/5.0
• Schools +3.4/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this refreshed 1-bedroom, 1-bath mobile home offering comfort, functionality, and abundant natural light. The spacious living room features large windows that brighten the space and create an inviting atmosphere. The kitchen offers warm cabinetry, ample counter space, and updated flooring, while the bathroom has been tastefully updated with clean finishes and additional storage. The bedroom provides a cozy retreat with natural light and easy access to the full bath. Outside, enjoy covered parking and low-maintenance surroundings within a well-kept community. Whether you're looking for a full-time residence or a low-maintenance option, this home offers practical living with value!

Key facts

• Covered parking
• Natural light
• Updated flooring

Tags

• NATURAL LIGHT
• UPDATED FLOORING
• COVERED PARKING
• LOW-MAINTENANCE SURROUNDINGS
• WELL-KEPT COMMUNITY

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $39k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $757 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $39k).
• Recommended offer: $37k (6.0% below list) — sets the bar for market timing.
• Cap rate 29.6% vs local median 3.0% in Exeter — 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 55/100 on livability (#845 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A; Watch: crime C-, schools D, amenities F.
• Exeter Unified (suburban): math 30% / reading 44% proficiency, ranked #832 of 1,400 in CA (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 97 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,447 units permitted in Tulare County in 2024 (307 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $270 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Tulare County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($37k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $36,660 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 3.33% ✓
• Cap rate: 29.60%
• Cash-on-cash: 83.24%
• DSCR: 4.70
• GRM: 2.5

CMA / ARV

• ARV (median comp): $30,800
• List price: $39,000
• Delta: 26.62%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
314 N Albert Ave #39	0.00mi	1/1.0	720 (0%)	0mo	$35,000	$49	100
314 N Albert Ave #124	0.11mi	2/2.0 (+1)	780 (+8%)	23mo	$45,000	$58	53

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 83.6%
• Equity multiple: 4.84×
• Total profit: $41,944
• Equity at exit: $5,815

10-year hold

• IRR: 86.8%
• Equity multiple: 10.04×
• Total profit: $98,726
• Equity at exit: $3,372

Cash invested: $10,920 (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 93221

• Active inventory: 97
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,300 medium
• Mortgage (P&I): −$205
• Tax est. 1.5%: −$49 /mo · $585/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $757

Break-even live

Break-even rent $341

Max offer price $39,000

Occupancy floor 37%

Sensitivity live

Price	-10% $784	-5% $771	+0% $757	+5% $744	+10% $731
Rent	-10% $655	-5% $706	+0% $757	+5% $809	+10% $860
Rate	-1.0pp $777	-0.5pp $767	base $757	+0.5pp $747	+1.0pp $737

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: $9,750
• Closing costs: $1,170
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
806 Monarch Cir Unit 1 Exeter, CA	2.0	1.0	715	$1,300	$1.82	21d	1	0.72mi

Listing history 4 events

1. 2026-05-04
   status Pending 699-char remark

   Show marketing remark (699 chars)

   Welcome to this refreshed 1-bedroom, 1-bath mobile home offering comfort, functionality, and abundant natural light. The spacious living room features large windows that brighten the space and create an inviting atmosphere. The kitchen offers warm cabinetry, ample counter space, and updated flooring, while the bathroom has been tastefully updated with clean finishes and additional storage. The bedroom provides a cozy retreat with natural light and easy access to the full bath. Outside, enjoy covered parking and low-maintenance surroundings within a well-kept community. Whether you're looking for a full-time residence or a low-maintenance option, this home offers practical living with value!

2. 2026-04-30
   price $39,000 699-char remark

   Show marketing remark (699 chars)

   Welcome to this refreshed 1-bedroom, 1-bath mobile home offering comfort, functionality, and abundant natural light. The spacious living room features large windows that brighten the space and create an inviting atmosphere. The kitchen offers warm cabinetry, ample counter space, and updated flooring, while the bathroom has been tastefully updated with clean finishes and additional storage. The bedroom provides a cozy retreat with natural light and easy access to the full bath. Outside, enjoy covered parking and low-maintenance surroundings within a well-kept community. Whether you're looking for a full-time residence or a low-maintenance option, this home offers practical living with value!

3. 2026-03-31
   price $49,000 699-char remark

   Show marketing remark (699 chars)

   Welcome to this refreshed 1-bedroom, 1-bath mobile home offering comfort, functionality, and abundant natural light. The spacious living room features large windows that brighten the space and create an inviting atmosphere. The kitchen offers warm cabinetry, ample counter space, and updated flooring, while the bathroom has been tastefully updated with clean finishes and additional storage. The bedroom provides a cozy retreat with natural light and easy access to the full bath. Outside, enjoy covered parking and low-maintenance surroundings within a well-kept community. Whether you're looking for a full-time residence or a low-maintenance option, this home offers practical living with value!

4. 2026-02-19
   listed $64,500 Active 699-char remark

   Show marketing remark (699 chars)

   Welcome to this refreshed 1-bedroom, 1-bath mobile home offering comfort, functionality, and abundant natural light. The spacious living room features large windows that brighten the space and create an inviting atmosphere. The kitchen offers warm cabinetry, ample counter space, and updated flooring, while the bathroom has been tastefully updated with clean finishes and additional storage. The bedroom provides a cozy retreat with natural light and easy access to the full bath. Outside, enjoy covered parking and low-maintenance surroundings within a well-kept community. Whether you're looking for a full-time residence or a low-maintenance option, this home offers practical living with value!

ⓘ 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 (shaded) · 16% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 50 unhealthy d/yr today · 53 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,600
• − Mortgage interest: −$2,185
• − Property taxes: −$585
• − Insurance: −$195
• − Repairs & maintenance: −$1,248
• − Management: −$1,248
• − Depreciation: −$1,135
• Taxable income: $9,005
• Est. tax owed @ 24.0%: −$2,161
• After-tax cash flow: $6,929/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 · 13 photos

Good 80/100 Cosmetic rehab

This refreshed 1-bedroom, 1-bath mobile home offers comfort, functionality, and abundant natural light. The home is in good condition with updated flooring and cabinets, and is ready for immediate move-in.

Value-add opportunities

• Both Paint the exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace the carpet with hardwood flooring in the bedrooms — Hardwood flooring is more durable and adds value
• Both Install new kitchen appliances — Modern appliances improve functionality and appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace the carpet with hardwood flooring in the bedrooms — Hardwood flooring is more durable and adds value ↑
• Both Install new kitchen appliances — Modern appliances improve functionality and appeal ↑

ⓘ 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: Exeter Unified
• NCES district ID: 0601423
• Math proficiency: 30% ▼ -2.00%
• Reading proficiency: 44% ▼ -1.00%
• Median HH income: $46,404
• Composite: 34.19/100
• National rank: #10261
• State rank: #832 of 1400 in CA

Livability — Exeter

• Score: 55/100
• State rank: #845
• US rank: #23297

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Exeter, CA
• Population (ZIP): 14,399

Population outlook (Tulare County) Hauer SSP2

• Today (2025): 484,681 people
• By 2030: 496,241 · +2.4%
• By 2040: 518,507 · +7.0%
• By 2050: 534,920 · +10.4%
• By 2075: 548,417 · +13.2%
• By 2100: 513,085 · +5.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (53%)
• Race & ethnicity: Hispanic / Latino 53% White 42% Two or more races 16% Asian 2%
• Hispanic origin (detail): Mexican 50% Puerto Rican 1%
• Common ancestry: Slovak 1% Portuguese 1% Russian 1%
• Foreign-born: 11% · Canada
• Languages at home: 69% English-only · Spanish 28% Tagalog/Filipino 1% Other Indo-European 1%

Political lean MEDSL · Tulare

• 2024 margin: Strong R (+20.7) · D 38.5% · R 59.2% · Other 2.3%
• 2008→2024 swing: -5.4pp toward R · 2008: -15.3pp · 2024: -20.7pp
• All cycles: 2024: R+20.7 2020: R+7.8 2016: R+12.1 2012: R+17.8 2008: R+15.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -187.00%
• Current HPI: 345.1725
• Rent YoY: —
• Metro: —
• 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

-39.5% since first listed

4 events — show timeline

• 2026-05-04 Pending — TCMLS
• 2026-04-30 Price Changed $39,000 TCMLS
• 2026-03-31 Price Changed $49,000 TCMLS
• 2026-02-19 Listed $64,500 TCMLS