6000 10th St #10

Sheridan, CA 95681

$129,000C+

3 bd · 2.0 ba · 1,056 sqft · Built 2001 · Manufactured · Active · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,434/mo
• Mortgage (P&I): −$676
• Tax + insurance: −$215
• HOA: −$0
• Vac / Maint / Mgmt: −$301
• Net cashflow: $241/mo
• Annual: $2,892/yr
• Cap rate: 8.53%
• Cash-on-cash: 8.01%
• DSCR: 1.36
• 1% rule: 1.11%
• Cash to close: $36,120

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $129k. Condition is rated good.
• At list price, monthly cash flow is $241 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $129k).
• It's been on market 23 days — a 2% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $127k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-0.7%/yr); year-one equity from $892 of loan paydown is wiped out by about $960 of value loss. Plan a longer hold.
• Location reads 48/100 on livability (#1,193 in CA) — a working-class tenant base; expect higher turnover. Strengths: crime B+; Watch: housing D, amenities F, commute F.
• Western Placer Unified (suburban): math 39% / reading 56% proficiency, ranked #148 of 517 in CA (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Sheridan Elementary (math 30% / reading 30%, grade F, #834 of 1,571 statewide, top 54%, 56 students, 59% FRL); Glen Edwards Middle (math 29% / reading 46%, grade F, #166 of 498 statewide, top 34%, 770 students, 42% FRL); Lincoln High (math 28% / reading 67%, grade D, #384 of 1,170 statewide, top 33%, 1,355 students, 33% FRL) — zoned schools average 44% FRL vs 27% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 5 active listings in the ZIP; 3,535 units permitted in Placer County in 2024 (689 in 5+ unit buildings).
• Placer County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-0.7% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~9 years — after that, you're playing with house money.

Questions for listing agent

• 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)

• Minor: Landscaping — The grass appears to be dry and could benefit from some watering and maintenance.