1400 Meredith Ave #55 · Gustine, CA 95322

$55,000

2 bd · 2.0 ba · 880 sqft · Manufactured · 10 Days on market

Built 1980 $62/sqft · 7% below area Est $59k · 7% under

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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
• ARV discount +10.8/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Located in Gustine's Green Acres Senior Community, this charming 2 bedroom, 2 bath home offers comfort and thoughtful updates throughout. Built in 1980 with 880 sqft, it features nice size bedrooms including a main suite with a walk in closet. Recent upgrades include interior paint, exterior paint, water heater replaced in 2024, and a roof resealed in 2024 with a protective coating. Updated dual pane windows add efficiency, while the spacious backyard provides room to relax or garden. A well cared for home in a welcoming community ready for its next owner.

Key facts

• Exterior paint
• Recent upgrades
• Main suite

Tags

• MAIN SUITE
• WALK IN CLOSET
• RECENT UPGRADES
• INTERIOR PAINT
• EXTERIOR PAINT
• WATER HEATER REPLACED

Property features AI

Finance

• Other: Located at 1400 Meredith Ave #55, Gustine, CA 95322
• Financial info: Land lease: No (listed land lease amount present)
• HOA & community: No homeowners association; Senior community

Exterior

• Parking: Covered parking
• Utilities: Cable available; Individual electric meter; Individual gas meter; Natural gas connected; Public water; Public sewer
• Home design: Manufactured home (double wide) in a park; Built in 1980; Skyl ine make
• Construction: Aluminum skirting
• Exterior features: Backyard; Front yard; Tar/gravel roof

Interior

• Kitchen: Laminate counters
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Linoleum
• Bathrooms: 2 full bathrooms; Tub and separate shower stall(s)
• Heating & cooling: Central heating; Ceiling fans; Wall units; Window units
• Interior features: Cathedral/vaulted living room; Pets allowed
• Laundry & utility: Laundry inside; 220V outlet in laundry area

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $55k.

Deal economics

• At list price, monthly cash flow is $824 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $55k).

Location & tenants

• Location reads 67/100 on livability (#321 in CA) — a middle-class / working-renter tenant base. Strengths: health & safety A+, housing A, crime B+; Watch: employment D, schools D-, amenities F.
• Gustine Unified (rural): math 17% / reading 32% proficiency, ranked #1,180 of 1,400 in CA (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 30 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 459 units permitted in Merced County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Merced County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

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

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $55,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. 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.
4. 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.
5. 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: 2.77% ✓
• Cap rate: 24.27%
• Cash-on-cash: 64.21%
• DSCR: 3.86
• GRM: 3.0

CMA / ARV

• ARV (median comp): $59,333
• List price: $55,000
• Delta: -7.30%
• Verdict: FAIR
• Comps: 19 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1400 Meredith Ave #95	0.05mi	2/2.0	960 (+9%)	1mo	$47,000	$49	81
1400 Meredith Ave #3	0.05mi	2/1.0	945 (+7%)	6mo	$55,000	$58	76
1400 Meredith Ave #50	0.05mi	2/2.0	960 (+9%)	9mo	$60,000	$63	75
1400 Meredith Ave #58	0.05mi	2/2.0	1,000 (+14%)	3mo	$38,000	$38	73
1400 Meredith Ave #98	0.05mi	1/1.0 (-1)	791 (-10%)	9mo	$46,000	$58	65

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 63.3%
• Equity multiple: 3.83×
• Total profit: $43,594
• Equity at exit: $8,201

10-year hold

• IRR: 67.8%
• Equity multiple: 7.86×
• Total profit: $105,635
• Equity at exit: $4,755

Cash invested: $15,400 (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 95322

• Home prices YoY: -31.1%
• Active inventory: 30
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,524 high
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $825/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $824

Break-even live

Break-even rent $481

Max offer price $55,000

Occupancy floor 41%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
790 Sycamore Ave Gustine, CA	2.0	1.0	1089	$1,750	$1.61	7d	1	0.35mi
1310 Olson Dr Apt E Gustine, CA	2.0	1.0	800	$1,300	$1.62	12d	1	0.36mi
1407 South Ave Unit 1407 Gustine, CA	2.0	1.0	800	$1,300	$1.62	12d	1	0.36mi
1535 South Ave Apt B Gustine, CA	2.0	1.5	900	$1,200	$1.33	12d	1	0.40mi
775 Odilia Ct Gustine, CA	2.0	2.0	970	$1,850	$1.91	12d	1	0.43mi
407 6th St Gustine, CA	2.0	2.0	950	$1,900	$2.00	14d	1	0.67mi
212 2nd St Gustine, CA	3.0	2.0	1109	$1,800	$1.62	2d	1	1.04mi

Listing history 10 events

1. 2026-06-18
   days on market $55,000 Active 10 DOM
2. 2026-06-17
   days on market $55,000 Active 9 DOM
3. 2026-06-16
   days on market $55,000 Active 8 DOM
4. 2026-06-15
   days on market $55,000 Active 7 DOM
5. 2026-06-13
   days on market $55,000 Active 5 DOM
6. 2026-06-13
   days on market $55,000 Active 4 DOM
7. 2026-06-08
   days on marketlisting id $55,000 Active 1 DOM
8. 2026-06-02
   days on market $55,000 Active 39 DOM
9. 2026-06-01
   days on market $55,000 Active 38 DOM
10. 2026-05-31
    days on market $55,000 Active 37 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 6/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 20 unhealthy d/yr today · 21 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,291
• − Mortgage interest: −$3,081
• − Property taxes: −$825
• − Insurance: −$275
• − Repairs & maintenance: −$1,463
• − Management: −$1,463
• − Depreciation: −$1,600
• Taxable income: $9,583
• Est. tax owed @ 24.0%: −$2,300
• After-tax cash flow: $7,588/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: Gustine Unified
• NCES district ID: 0616323
• Math proficiency: 17% ▬ 0.00%
• Reading proficiency: 32% ▲ 3.00%
• Median HH income: $42,825
• Composite: 23.99/100
• National rank: #13180
• State rank: #1180 of 1400 in CA

Livability — Gustine

• Score: 67/100
• State rank: #321
• US rank: #10803

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gustine, CA
• Population (ZIP): 9,013

Population outlook (Merced County) Hauer SSP2

• Today (2025): 285,501 people
• By 2030: 293,437 · +2.8%
• By 2040: 308,808 · +8.2%
• By 2050: 321,011 · +12.4%
• By 2075: 338,497 · +18.6%
• By 2100: 330,493 · +15.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (67%)
• Race & ethnicity: Hispanic / Latino 67% White 30% Two or more races 10% Native American 3% Asian 2%
• Hispanic origin (detail): Mexican 65%
• Common ancestry: Russian 14% Lithuanian 4% Italian 3%
• Foreign-born: 34% · Canada
• Languages at home: 41% English-only · Spanish 51% Other Indo-European 6% Tagalog/Filipino 1%

Political lean MEDSL · Merced

• 2024 margin: Toss-up / Even · D 46.5% · R 50.9% · Other 2.6%
• 2008→2024 swing: -12.7pp toward R · 2008: 8.3pp · 2024: -4.4pp
• All cycles: 2024: R+4.4 2020: D+10.6 2016: D+7.9 2012: D+5.4 2008: D+8.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -119.43%
• Current HPI: 264.2504
• Rent YoY: —
• Metro: —
• 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