541 Mason St #6

Healdsburg, CA 95448

$200,000B

2 bd · 1.0 ba · 595 sqft · Built 1974 · Manufactured · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,080/mo
• Mortgage (P&I): −$1,049
• Tax + insurance: −$333
• HOA: −$0
• Vac / Maint / Mgmt: −$647
• Net cashflow: $1,051/mo
• Annual: $12,617/yr
• Cap rate: 12.60%
• Cash-on-cash: 22.53%
• DSCR: 2.00
• 1% rule: 1.54%
• Cash to close: $56,000

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $200k.
• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#244 in CA) — a middle-class / working-renter tenant base. Strengths: employment A+, health & safety A+, schools B; Watch: commute F, cost of living F.
• Healdsburg Unified (suburban): math 35% / reading 48% proficiency, ranked #608 of 1,400 in CA (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.9%/yr); 194 active listings in the ZIP; solid renter incomes; 1,039 units permitted in Sonoma County in 2024 (185 in 5+ unit buildings).
• Sonoma County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 6.9% rent growth), your $56k cash investment doubles in ~5 years — after that, you're playing with house money.
• Cap rate 12.6% vs local median 1.1% in Healdsburg — 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.
• This rent runs 35% of the median local income ($105k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1974 — 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 B-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?
• 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.