3210 Santa Maria Way #2 · Orcutt, CA 93455

$124,900

2 bd · 1.0 ba · 800 sqft · Manufactured · 10 Days on market

Built 1968 871 sqft lot Est $121k · at est.

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Why this score? — see what drove the B- 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
• ARV discount +6.0/15.0
• Schools +4.6/10.0
• Livability +3.7/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Freshly updated and move in ready! Welcome to Orcutt living in Del Cielo Mobile Home Estates. This 2 bedroom, 1 bath home offers approximately 800 sq ft, including an open kitchen to the dining and living room, and a front deck to enjoy the great weather year round. Recent improvements include fresh interior paint, new luxury vinyl plank flooring, new carpet in the bedrooms, and the home was recently leveled. Residents enjoy a community pool, clubhouse, and a beautifully landscaped park. Located just minutes from the 101 freeway for quick access to the Santa Ynez wine country or north to the local beaches. Don't miss this wonderful opportunity to enjoy affordable Central Coast living, conta

Key facts

• Front deck
• Clubhouse
• Community pool

Tags

• OPEN KITCHEN
• FRONT DECK
• COMMUNITY POOL
• CLUBHOUSE
• LANDSCAPED PARK
• QUICK ACCESS

Property features AI

Finance

• HOA & community: Land lease: $556.11; Age-restricted community

Exterior

• Utilities: Public sewer; Water source: see remarks
• Home design: Manufactured Home
• Construction: Imperial make and model; 40 feet long by 10 feet wide
• Exterior features: Composition roof; Pillar/post/pier foundation; Manufactured home (Imperial model, 40' x 10')

Interior

• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall furnace heating; Ceiling fan cooling
• Interior features: Carpet and vinyl flooring

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $125k.

Deal economics

• 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 ($2k rent vs $125k).
• Cap rate 16.9% vs local median 2.6% in Orcutt — 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 73/100 on livability (#169 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, housing A+; Watch: crime D+, cost of living F.
• Orcutt Union Elementary (suburban): math 44% / reading 54% proficiency, ranked #414 of 1,400 in CA (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.2%/yr); 124 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 719 units permitted in Santa Barbara County in 2024 (217 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 2.2% rent growth), your $35k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $124,900

Questions for the listing agent

1. Built in 1968 — 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 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?
4. Crime grade is D 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?
5. 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.
6. 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.
7. 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: 2.00% ✓
• Cap rate: 16.94%
• Cash-on-cash: 38.04%
• DSCR: 2.69
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $120,800
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3210 Santa Maria Way #27	0.00mi	2/2.0	800 (0%)	8mo	$110,000	$138	90
3210 Santa Maria Way #81	0.00mi	2/2.0	800 (0%)	8mo	$159,000	$199	89
3210 Santa Maria Way #21	0.00mi	2/2.0	840 (+5%)	1mo	$159,950	$190	87
3210 Santa Maria Way #19	0.00mi	1/1.0 (-1)	780 (-2%)	7mo	$115,000	$147	85
3210 Santa Maria Way #66	0.00mi	2/1.5	769 (-4%)	12mo	$140,000	$182	82
3210 Santa Maria Way #10	0.00mi	2/1.0	859 (+7%)	12mo	$120,000	$140	78
3210 Santa Maria Way #46	0.00mi	2/1.0	880 (+10%)	8mo	$118,500	$135	77
3210 Santa Maria Way #86	0.00mi	2/1.0	860 (+8%)	14mo	$129,900	$151	76
3210 Santa Maria Way #90	0.00mi	2/2.0	896 (+12%)	6mo	$180,000	$201	71

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 · 2.23% rent growth · sell at horizon

5-year hold

• IRR: 33.2%
• Equity multiple: 2.39×
• Total profit: $48,483
• Equity at exit: $18,623

10-year hold

• IRR: 39.8%
• Equity multiple: 4.59×
• Total profit: $125,532
• Equity at exit: $10,799

Cash invested: $34,972 (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 93455

• Rents YoY: 2.2%
• Active inventory: 124
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $2,496 high
• Mortgage (P&I): −$655
• Tax est. 1.5%: −$156 /mo · $1,874/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$524
• Net cashflow: $1,109

Break-even live

Break-even rent $1,093

Max offer price $124,900

Occupancy floor 51%

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3490 Santa Maria Way Unit 103F Santa Maria, CA	2.0	1.5	1000	$2,200	$2.20	13d	1	0.42mi
3235 Orcutt Rd Orcutt, CA	2.0–3.0	2.0	1202	$2,695	$2.24	13d	5	0.58mi
3519 Mercury Dr Bldg 5 Santa Maria, CA	1.0	1.0	619	$2,395	$3.87	13d	1	0.73mi
504 Playa Blanca Ct Santa Maria, CA	2.0	1.0	800	$2,000	$2.50	13d	1	0.96mi
958 Terrace Ave Santa Maria, CA	1.0	1.0	555	$1,360	$2.45	13d	1	0.98mi
2460 Rubel Way Santa Maria, CA	2.0–3.0	2.0	1230	$2,992	$2.43	13d	11	1.07mi
4036 Cedarhurst Dr Orcutt, CA	1.0–2.0	1.0–2.0	781	$2,648	$3.39	13d	6	1.24mi

Listing history 10 events

1. 2026-06-18
   days on market $124,900 Active 10 DOM
2. 2026-06-17
   days on market $124,900 Active 9 DOM
3. 2026-06-16
   statusdays on market $124,900 Active 8 DOM
4. 2026-06-13
   statusdays on market $124,900 Pending 7 DOM
5. 2026-06-10
   days on market $124,900 Active 6 DOM
6. 2026-06-09
   days on market $124,900 Active 5 DOM
7. 2026-06-08
   days on market $124,900 Active 4 DOM
8. 2026-06-07
   days on market $124,900 Active 3 DOM
9. 2026-06-05
   remarks 699-char remark
10. 2026-06-05
    listed $124,900 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥85°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: $29,950
• − Mortgage interest: −$6,996
• − Property taxes: −$1,874
• − Insurance: −$624
• − Repairs & maintenance: −$2,396
• − Management: −$2,396
• − Depreciation: −$3,633
• Taxable income: $12,030
• Est. tax owed @ 24.0%: −$2,887
• After-tax cash flow: $10,415/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: Orcutt Union Elementary
• NCES district ID: 0628710
• Math proficiency: 44% ▼ -1.00%
• Reading proficiency: 54% ▲ 2.00%
• Median HH income: $70,564
• Composite: 45.96/100
• National rank: #5530
• State rank: #414 of 1400 in CA

Livability — Orcutt

• Score: 73/100
• State rank: #169
• US rank: #5508

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Orcutt, CA
• County: Santa Barbara County · 410,380 people
• Metro: Santa Maria-Santa Barbara, CA
• Population (ZIP): 44,611
• Household income: $110,661
• Rent vs Own: 23.7% rent · 76.3% own
• Severe rent burden: 765.0

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 47% Hispanic / Latino 41% Two or more races 24% Asian 5% Black 2%
• Hispanic origin (detail): Mexican 38%
• Common ancestry: Lithuanian 2% Russian 2% Italian 2%
• Foreign-born: 13% · Canada, China, South Korea
• Languages at home: 73% English-only · Spanish 23% Tagalog/Filipino 2%

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: ▼ -729.78%
• Current HPI: 314.6499
• Rent YoY: ▲ 2.23%
• 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

• 2026-06-04 Listed $124,900 NSBCRMLS