2920 Clark Unit L-6

Butte Valley, CA 95965

$160,000C

3 bd · 2.0 ba · 1,352 sqft · Built 2025 · Manufactured · Active · 87 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,763/mo
• Mortgage (P&I): −$839
• Tax + insurance: −$267
• HOA: −$0
• Vac / Maint / Mgmt: −$370
• Net cashflow: $287/mo
• Annual: $3,444/yr
• Cap rate: 8.45%
• Cash-on-cash: 7.69%
• DSCR: 1.34
• 1% rule: 1.10%
• Cash to close: $44,800

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $160k. Condition is rated excellent.
• At list price, monthly cash flow is $287 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• It's been on market 87 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $150k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 50/100 on livability (#1,130 in CA) — a working-class tenant base; expect higher turnover. Strengths: employment A+, housing A; Watch: schools C-, crime C-, amenities F.
• Durham Unified (rural): math 40% / reading 48% proficiency, ranked #180 of 517 in CA (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.9%/yr); 167 active listings in the ZIP; 946 units permitted in Butte County in 2024 (254 in 5+ unit buildings).
• Butte County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• 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.
• This rent runs 40% of the median local income ($53k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.