1370 W Grand Ave #138 · Grover Beach, CA 93433

$199,000

1 bd · 1.0 ba · 576 sqft · Manufactured · 185 Days on market

Built 1974 $345/sqft · 37% above area Est $145k · 37% over

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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 +24.5/30.0
• DSCR +7.9/10.0
• 1% rule +6.3/10.0
• Schools +4.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming one bedroom one bath mobile home shows pride of ownership. Recently painted and updated including new windows and flooring. Custom decorative entry gate. This home is ideal for a plant lover or gardener. This home is surrounded by a thoughtfully created garden that is a truly unique botanical escape. It includes a curated collection of plants making it a tranquil sanctuary. The private backyard patio is perfect for entertaining or unwinding. Bird friendly retreat. Two storage sets in back provide extra storage space. Covered carport with room for two cars. Blocks to the beach and centrally located to shopping. Located at the back of the park. Fully fenced and pet friendly.

Key facts

• Fully fenced
• Pet friendly
• Built 1974

Tags

• CUSTOM DECORATIVE ENTRY GATE
• THOUGHTFULLY CREATED GARDEN
• PRIVATE BACKYARD PATIO
• FULLY FENCED
• PET FRIENDLY

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $199k.

Deal economics

• At list price, monthly cash flow is $408 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Recommended offer: $175k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 2.1% in Grover Beach — 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 65/100 on livability (#378 in CA) — a middle-class / working-renter tenant base. Strengths: health & safety A+, employment B+; Watch: schools C-, amenities D, cost of living F.
• Lucia Mar Unified (town): math 42% / reading 56% proficiency, ranked #433 of 1,400 in CA (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 59 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,104 units permitted in San Luis Obispo County in 2024 (273 in 5+ unit buildings).
• This rent runs 31% of the median local income ($86k/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.
• San Luis Obispo 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 185 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 23y ago 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.
• Current owner paid $35k; list at $199k implies a 469% gain — meaningful room to come down on a strong offer.

Recommended offer $175,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 185 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.13% ✓
• Cap rate: 8.75%
• Cash-on-cash: 8.78%
• DSCR: 1.39
• GRM: 7.3

CMA / ARV

• ARV (median comp): $145,000
• List price: $199,000
• Delta: 37.24%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -3.0%
• Equity multiple: 0.89×
• Total profit: $-6,258
• Equity at exit: $29,672

10-year hold

• IRR: 6.7%
• Equity multiple: 1.50×
• Total profit: $28,110
• Equity at exit: $17,206

Cash invested: $55,720 (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 93433

• Active inventory: 59
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,257 high
• Mortgage (P&I): −$1,044
• Tax est. 1.5%: −$249 /mo · $2,985/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$474
• Net cashflow: $408

Break-even live

Break-even rent $1,741

Max offer price $199,000

Occupancy floor 77%

Sensitivity live

Price	-10% $545	-5% $476	+0% $408	+5% $339	+10% $270
Rent	-10% $229	-5% $318	+0% $408	+5% $497	+10% $586
Rate	-1.0pp $508	-0.5pp $458	base $408	+0.5pp $356	+1.0pp $303

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
538 N 16th St Apt A Grover Beach, CA	2.0	1.0	750	$2,300	$3.07	45d	1	0.46mi
450 Manhattan Ave Grover Beach, CA	2.0	1.0	700	$2,700	$3.86	22d	1	0.69mi
108 Erna Way Pismo Beach, CA	1.0	1.0	550	$2,600	$4.73	45d	1	1.08mi
1480 S 13th St Unit 1480B Oceano, CA	1.0	1.0	500	$1,650	$3.30	15d	1	1.17mi
230 S Alpine St Unit 04 Arroyo Grande, CA	—	1.0	400	$1,900	$4.75	24d	1	1.44mi

Listing history 21 events

1. 2026-06-21
   days on market $199,000 Active 185 DOM
2. 2026-06-18
   days on market $199,000 Active 182 DOM
3. 2026-06-17
   days on market $199,000 Active 181 DOM
4. 2026-06-16
   days on market $199,000 Active 180 DOM
5. 2026-06-15
   days on market $199,000 Active 179 DOM
6. 2026-06-14
   days on market $199,000 Active 177 DOM
7. 2026-06-13
   days on market $199,000 Active 176 DOM
8. 2026-06-10
   days on market $199,000 Active 174 DOM
9. 2026-06-09
   days on market $199,000 Active 173 DOM
10. 2026-06-08
    days on market $199,000 Active 172 DOM
11. 2026-06-07
    days on market $199,000 Active 171 DOM
12. 2026-06-03
    days on market $199,000 Active 167 DOM
13. 2026-06-02
    days on market $199,000 Active 166 DOM
14. 2026-06-01
    days on market $199,000 Active 165 DOM
15. 2026-05-31
    days on market $199,000 Active 164 DOM
16. 2026-05-30
    days on market $199,000 Active 163 DOM
17. 2025-12-18
    listed $199,000 Active 695-char remark

    Show marketing remark (695 chars)

    This charming one bedroom one bath mobile home shows pride of ownership. Recently painted and updated including new windows and flooring. Custom decorative entry gate. This home is ideal for a plant lover or gardener. This home is surrounded by a thoughtfully created garden that is a truly unique botanical escape. It includes a curated collection of plants making it a tranquil sanctuary. The private backyard patio is perfect for entertaining or unwinding. Bird friendly retreat. Two storage sets in back provide extra storage space. Covered carport with room for two cars. Blocks to the beach and centrally located to shopping. Located at the back of the park. Fully fenced and pet friendly.

18. 2003-07-14
    soldstatus $35,000
19. 2003-07-14
    soldstatus $35,000
20. 2003-05-07
    listed $39,000
21. 2003-05-07
    listed $39,000

ⓘ 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 4/10 Moderate 7 d/yr ≥80°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 9 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,080
• − Mortgage interest: −$11,147
• − Property taxes: −$2,985
• − Insurance: −$995
• − Repairs & maintenance: −$2,166
• − Management: −$2,166
• − Depreciation: −$5,789
• Taxable income: $1,831
• Est. tax owed @ 24.0%: −$439
• After-tax cash flow: $4,451/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: Lucia Mar Unified
• NCES district ID: 0623080
• Math proficiency: 42% ▲ 3.00%
• Reading proficiency: 56% ▲ 2.00%
• Median HH income: $62,681
• Composite: 45.19/100
• National rank: #5782
• State rank: #433 of 1400 in CA

Livability — Grover Beach

• Score: 65/100
• State rank: #378
• US rank: #12927

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grover Beach, CA
• County: San Luis Obispo County · 224,651 people
• City population: 12,600
• Metro: San Luis Obispo-Paso Robles, CA
• Population (ZIP): 12,600
• Household income: $86,458
• Rent vs Own: 49.5% rent · 50.5% own
• Severe rent burden: 617.0

Population outlook (San Luis Obispo County) Hauer SSP2

• Today (2025): 306,977 people
• By 2030: 320,378 · +4.4%
• By 2040: 343,933 · +12.0%
• By 2050: 366,853 · +19.5%
• By 2075: 428,329 · +39.5%
• By 2100: 460,687 · +50.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 55% Hispanic / Latino 38% Two or more races 23% Asian 2% Native American 1% Black 1%
• Hispanic origin (detail): Mexican 33%
• Common ancestry: Lithuanian 6% Slovak 4% Russian 3%
• Foreign-born: 12% · Canada
• Languages at home: 72% English-only · Spanish 25% Other Asian/Pacific 1% Arabic 1%

Political lean MEDSL · San Luis Obispo

• 2024 margin: D (+10.9) · D 53.9% · R 43.1% · Other 3.0%
• 2008→2024 swing: +5.5pp toward D · 2008: 5.4pp · 2024: 10.9pp
• All cycles: 2024: D+10.9 2020: D+13.1 2016: D+8.3 2012: D+1.0 2008: D+5.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -627.38%
• Current HPI: 398.2644
• Rent YoY: —
• Metro: San Luis Obispo-Paso Robles, 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

+410.3% since first listed

5 events — show timeline

• 2025-12-18 Listed $199,000 CRMLS
• 2003-07-14 Sold (MLS) $35,000 CRMLS
• 2003-07-14 Sold (MLS) $35,000 NSBCRMLS
• 2003-05-07 Listed $39,000 CRMLS
• 2003-05-07 Listed $39,000 NSBCRMLS