1701 S Thornburg St #18 · Santa Maria, CA 93458

$195,000

2 bd · None ba · 1,536 sqft · Manufactured · 31 Days on market

Built 1971 1,500 sqft lot Est $195k · at est.

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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 +27.0/30.0
• DSCR +9.3/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Livability +3.6/5.0
• Rent growth +3.1/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 1701 S. Thornburg St. , Space 18, located in the desirable La Maria 55+ Community! Situated on a spacious corner lot, this beautifully remodeled home offers modern style, comfort, and convenience in a welcoming community setting. Step inside to discover a completely renovated interior featuring 2 bedrooms, 2 bathrooms, and an open-concept layout designed for easy living and entertaining. The bright and modern kitchen flows seamlessly into the living area and is highlighted by a stunning center island that serves as the heart of the home. Residents of La Maria enjoy wonderful community amenities, including a clubhouse, pool, and hot tub, creating the perfect blend of relaxation an

Key facts

• Clubhouse
• Renovated interior
• Modern kitchen

Tags

• REMODELED HOME
• RENOVATED INTERIOR
• OPEN-CONCEPT LAYOUT
• MODERN KITCHEN
• CENTER ISLAND
• CLUBHOUSE

Property features AI

Finance

• Other: Approximate building area 1,536 (per tax records)
• HOA & community: Age-restricted community

Exterior

• Utilities: City utilities (water/sewer/power details not specified)
• Home design: Manufactured home; Single-story (first-level living)
• Construction: Metal roof
• Exterior features: Raised foundation

Interior

• Kitchen: Kitchen on the main level
• Bedrooms: Primary bedroom on the main level; Second bedroom on the main level
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Open living area; Total of 4 rooms

What this means for you Summary

Snapshot

• This is a 2-bed/?-bath manufactured listed at $195k.

Deal economics

• At list price, monthly cash flow is $545 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• Recommended offer: $189k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 3.5% in Santa Maria — 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 71/100 on livability (#202 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A; Watch: schools F, crime F, cost of living F.
• Santa Maria-Bonita (urban): math 26% / reading 34% proficiency, ranked #1,023 of 1,400 in CA (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.3%/yr); 56 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 719 units permitted in Santa Barbara County in 2024 (217 in 5+ unit buildings).
• This rent runs 38% of the median local income ($75k/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Santa Barbara County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($189k) is reasonable based on typical stale-listing flexibility.

Recommended offer $189,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 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 1971 — 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. 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?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.23% ✓
• Cap rate: 9.65%
• Cash-on-cash: 11.99%
• DSCR: 1.53
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $195,072
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1701 S Thornburg St #73	0.09mi	2/2.0	1,536 (0%)	10mo	$150,000	$98	87
1701 S Thornburg St #153	0.11mi	3/2.0 (+1)	1,568 (+2%)	11mo	$199,000	$127	77
1701 S Thornburg #156	0.13mi	3/2.0 (+1)	1,434 (-7%)	9mo	$235,000	$164	70
1701 S Thornburg St #139	0.04mi	2/2.0	1,368 (-11%)	21mo	$135,000	$99	62

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 · 2.31% rent growth · sell at horizon

5-year hold

• IRR: 0.7%
• Equity multiple: 1.03×
• Total profit: $1,527
• Equity at exit: $29,075

10-year hold

• IRR: 9.7%
• Equity multiple: 1.72×
• Total profit: $39,524
• Equity at exit: $16,860

Cash invested: $54,600 (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 93458

• Rents YoY: 2.3%
• Active inventory: 56
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $2,396 high
• Mortgage (P&I): −$1,023
• Tax est. 1.5%: −$244 /mo · $2,925/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$503
• Net cashflow: $545

Break-even live

Break-even rent $1,706

Max offer price $195,000

Occupancy floor 72%

Sensitivity live

Price	-10% $680	-5% $613	+0% $545	+5% $478	+10% $411
Rent	-10% $356	-5% $451	+0% $545	+5% $640	+10% $735
Rate	-1.0pp $644	-0.5pp $595	base $545	+0.5pp $495	+1.0pp $444

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1720 S Depot St Santa Maria, CA	1.0–4.0	1.0–2.0	1308	$2,197	$1.68	15d	5	0.09mi
800 W Battles Rd Santa Maria, CA	2.0–3.0	2.0	1104	$2,403	$2.18	15d	6	0.27mi
983 Dan Blough Dr Santa Maria, CA	1.0–3.0	1.0–3.0	1017	$3,073	$3.02	15d	45	0.46mi
1735 Biscayne St Santa Maria, CA	3.0	2.0	1257	$3,081	$2.45	15d	9	0.56mi
2299 Carrasco Way Santa Maria, CA	3.0	2.5–3.5	1419	$3,500	$2.47	15d	2	0.84mi
1708 Rio Vista Ln Unit 1 Santa Maria, CA	2.0	2.0	1075	$3,000	$2.79	15d	1	0.87mi
310 E McCoy Ln Santa Maria, CA	2.0–3.0	2.0	1130	$2,200	$1.95	15d	2	1.06mi
620 W Park Ave Santa Maria, CA	2.0	2.0	1450	$2,850	$1.97	15d	1	1.06mi
310 W McCoy Ln Santa Maria, CA	3.0	2.0	1130	$2,600	$2.30	15d	1	1.06mi

Listing history 18 events

1. 2026-06-21
   days on market $195,000 Active 31 DOM
2. 2026-06-18
   days on market $195,000 Active 28 DOM
3. 2026-06-17
   days on market $195,000 Active 27 DOM
4. 2026-06-16
   days on market $195,000 Active 26 DOM
5. 2026-06-15
   days on market $195,000 Active 25 DOM
6. 2026-06-14
   days on market $195,000 Active 23 DOM
7. 2026-06-13
   days on market $195,000 Active 22 DOM
8. 2026-06-10
   days on market $195,000 Active 20 DOM
9. 2026-06-09
   days on market $195,000 Active 19 DOM
10. 2026-06-08
    days on market $195,000 Active 18 DOM
11. 2026-06-07
    days on market $195,000 Active 17 DOM
12. 2026-06-05
    days on market $195,000 Active 14 DOM
13. 2026-06-03
    days on market $195,000 Active 13 DOM
14. 2026-06-02
    days on market $195,000 Active 12 DOM
15. 2026-06-01
    days on market $195,000 Active 11 DOM
16. 2026-05-31
    days on market $195,000 Active 10 DOM
17. 2026-05-30
    days on market $195,000 Active 9 DOM
18. 2026-05-21
    listed $195,000 Active

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥84°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 8 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,755
• − Mortgage interest: −$10,923
• − Property taxes: −$2,925
• − Insurance: −$975
• − Repairs & maintenance: −$2,300
• − Management: −$2,300
• − Depreciation: −$5,673
• Taxable income: $3,659
• Est. tax owed @ 24.0%: −$878
• After-tax cash flow: $5,667/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.

Schools (NCES district)

• District: Santa Maria-Bonita
• NCES district ID: 0605580
• Math proficiency: 26% ▲ 3.00%
• Reading proficiency: 34% ▲ 3.00%
• Median HH income: $50,959
• Composite: 29.11/100
• National rank: #11891
• State rank: #1023 of 1400 in CA

Livability — Santa Maria

• Score: 71/100
• State rank: #202
• US rank: #6519

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Santa Maria, CA
• County: Santa Barbara County · 410,380 people
• City population: 145,655
• Metro: Santa Maria-Santa Barbara, CA
• Population (ZIP): 59,148
• Household income: $75,257
• Rent vs Own: 57.1% rent · 42.9% own
• Severe rent burden: 2583.0

Population outlook (Santa Barbara County) Hauer SSP2

• Today (2025): 484,679 people
• By 2030: 505,323 · +4.3%
• By 2040: 545,783 · +12.6%
• By 2050: 584,263 · +20.5%
• By 2075: 682,586 · +40.8%
• By 2100: 723,188 · +49.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (87%)
• Race & ethnicity: Hispanic / Latino 87% Two or more races 41% White 8% Asian 4% Native American 4%
• Hispanic origin (detail): Mexican 83%
• Common ancestry: Lithuanian 1%
• Foreign-born: 40% · Canada, Jamaica
• Languages at home: 21% English-only · Spanish 72% Tagalog/Filipino 2% Other Asian/Pacific 1%

Political lean MEDSL · Santa Barbara

• 2024 margin: Strong D (+26.7) · D 61.8% · R 35.1% · Other 3.1%
• 2008→2024 swing: +3.8pp toward D · 2008: 22.9pp · 2024: 26.7pp
• All cycles: 2024: D+26.7 2020: D+32.1 2016: D+28.2 2012: D+17.1 2008: D+22.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -422.91%
• Current HPI: 347.9281
• Rent YoY: ▲ 2.31%
• Metro: Santa Maria-Santa Barbara, 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

• 2026-05-21 Listed $195,000 NSBCRMLS