5450 Monterey Rd #182 · San Jose, CA 95111

$359,900

3 bd · 2.0 ba · 1,512 sqft · Manufactured · 138 Days on market

Manufactured home Built 2018 Good condition $238/sqft · at area comps Est $376k · at est. ↓ 5% since listing

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Why this score? — see what drove the D+ 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 +13.6/30.0
• ARV discount +9.4/15.0
• Schools +5.5/10.0
• DSCR +4.1/10.0
• Livability +3.9/5.0
• 1% rule +3.8/10.0
• Condition / age +3.8/5.0
• Rent growth +2.8/5.0
• Appreciation +2.5/10.0
• Manufactured-home adj. -3.9

Listing remarks MLS

Discover this charming 2018 home in Casa Alondra, a delightful residence situated in a welcoming community. The house is approximately 1,510 square feet and includes three bedrooms and two bathrooms. The living area features linoleum flooring, a fireplace, and a ceiling fan with lights, while the dining area is equipped with linoleum flooring and a light fixture. The kitchen boasts linoleum flooring, a refrigerator with an ice maker, a dishwasher, microwave, a gas stove and oven, garbage disposal, an island, an upgraded single lever faucet, and ceiling lights. The master bedroom is carpeted and includes a ceiling fan with lights, while the guest bedrooms each have carpet and ceiling lights. The master bathroom offers double sinks, a glass door, a tile backsplash, granite countertops, linoleum flooring, and a tub and shower. The guest bathroom features a sliding glass door, a tile backsplash, granite countertops, linoleum flooring, and a tub and shower. Outside, the backyard includes a shed. The utility room also has linoleum flooring. Additional features of the home include central AC and heating, along with double-pane windows. Dont miss your chance and stop by today!

Key facts

• Dishwasher
• Gas stove and oven
• Fireplace

Tags

• FIREPLACE
• CEILING FAN WITH LIGHTS
• REFRIGERATOR WITH ICE MAKER
• DISHWASHER
• GAS STOVE AND OVEN
• UPGRADED SINGLE LEVER FAUCET

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $360k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $19 ($231/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $317k (11.8% below list).
• Recommended offer: $317k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.4% vs local median 1.6% in San Jose — 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 78/100 on livability (#68 in CA, #2,559 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: crime F, cost of living F.
• Oak Grove Elementary (urban): math 47% / reading 54% proficiency, ranked #339 of 1,400 in CA (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Edenvale Elementary (367 students, 55% FRL); Davis (Caroline) Intermediate (522 students, 48% FRL); Evergreen Valley High (math 76% / reading 83%, grade A-, #45 of 1,170 statewide, top 4%, 2,767 students, 13% FRL) — zoned schools at 38% FRL track the district average.
• Zoned-school proficiency averages 80% at this address vs 50% district-wide (+29 pts) — the actual schools serving this property are materially stronger than the Oak Grove Elementary average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+1.0%/yr); 76 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 3,838 units permitted in Santa Clara County in 2024 (1,886 in 5+ unit buildings).
• This rent runs 38% of the median local income ($101k/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 $2k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Santa Clara County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 138 days — a 12% lower offer ($317k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $40k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $316,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 138 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.88% ✗
• Cap rate: 6.36%
• Cash-on-cash: 0.23%
• DSCR: 1.01
• GRM: 9.5

CMA / ARV

• ARV (median comp): $375,600
• List price: $359,900
• Delta: -4.18%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5450 Monterey Rd #15	0.01mi	3/2.0	1,469 (-3%)	4mo	$375,000	$255	92
5450 Monterey Hwy #117	0.00mi	3/2.0	1,440 (-5%)	1mo	$300,000	$208	91
5450 Monterey Rd #131	0.00mi	3/2.0	1,440 (-5%)	1mo	$349,000	$242	91
5450 Monterey Rd #143	0.17mi	3/2.0	1,536 (+2%)	4mo	$270,000	$176	86
5450 Monterey Unit 54A	0.00mi	3/2.0	1,410 (-7%)	6mo	$355,000	$252	84
5450 Monterey Rd #87	0.06mi	2/2.0 (-1)	1,440 (-5%)	7mo	$225,000	$156	78
165 Blossom Hill Rd #145	0.59mi	3/2.0	1,500 (-1%)	3mo	$445,000	$297	69
165 Blossom Hill Rd #12	0.65mi	3/2.0	1,440 (-5%)	0mo	$412,500	$286	62
165 Blossom Hill Rd #66	0.50mi	2/2.0 (-1)	1,344 (-11%)	0mo	$395,000	$294	53
200 Ford Rd #227	0.58mi	3/2.0	1,344 (-11%)	4mo	$339,000	$252	51
165 Blossom Hill Rd #20	0.63mi	3/2.0	1,344 (-11%)	1mo	$385,000	$286	51
165 Blossom Hill Rd #344	0.65mi	3/2.0	1,699 (+12%)	2mo	$470,000	$277	48

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 · 1.0% rent growth · sell at horizon

5-year hold

• IRR: -18.2%
• Equity multiple: 0.37×
• Total profit: $-63,306
• Equity at exit: $53,662

10-year hold

• IRR: -14.9%
• Equity multiple: 0.23×
• Total profit: $-78,030
• Equity at exit: $31,118

Cash invested: $100,772 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City San Jose: 0 Strongly Tenant-Friendly · D+24

Apartment Rent Ordinance covers pre-1979 multifamily.

Methodology + full state rankings →

Seller's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 7 active · 12 under contract
• Months of supply: 2.5 mo (40%/mo absorbed)
• Median asking: $409,000 ($290/sqft)
• Median days on market: 78 d
• This list price: 29% of active listings are priced below it
• ARV vs active asking: -14.2% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 95111

• Rents YoY: 1.0%
• Active inventory: 76
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $3,173 high
• Mortgage (P&I): −$1,887
• Tax est. 1.5%: −$450 /mo · $5,398/yr
• Insurance: −$150
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$666
• Net cashflow: $19

Break-even live

Break-even rent $3,148

Max offer price $359,900

Occupancy floor 94%

Sensitivity live

Price	-10% $268	-5% $144	+0% $19	+5% $-105	+10% $-229
Rent	-10% $-231	-5% $-106	+0% $19	+5% $145	+10% $270
Rate	-1.0pp $200	-0.5pp $111	base $19	+0.5pp $-74	+1.0pp $-169

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: $89,975
• Closing costs: $10,797
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
240 Bendorf Dr Unit 9 San Jose, CA	2.0	1.5	1100	$2,800	$2.55	30d	1	0.07mi
5322 Carryback Ave San Jose, CA	4.0	2.5	1742	$4,800	$2.76	9d	1	0.29mi
5491 Demerest Ln San Jose, CA	3.0	2.5	1335	$4,400	$3.30	31d	1	0.41mi
5560 Lexington Ave San Jose, CA	2.0	1.0–2.0	846	$3,870	$4.57	9d	17	0.46mi
229 Seabiscuit Dr San Jose, CA	3.0	2.0	1263	$4,080	$3.23	37d	1	0.54mi
442 Fontanelle Dr San Jose, CA	4.0	2.0	2092	$5,300	$2.53	15d	1	0.56mi
5157 Snow Dr San Jose, CA	3.0	2.0	1106	$3,700	$3.35	24d	1	0.61mi
421 Gwinn Ct San Jose, CA	3.0	2.0	1370	$4,095	$2.99	9d	1	0.64mi
5700 Village Oaks Dr San Jose, CA	1.0–3.0	1.0–2.0	980	$5,307	$5.41	9d	9	0.81mi
5590 Makati Cir San Jose, CA	2.0	2.0	1233	$3,395	$2.75	51d	1	0.82mi
5683 Beswick Dr San Jose, CA	2.0	1.0	1100	$3,200	$2.91	52d	1	0.83mi
5480 Lean Ave San Jose, CA	1.0–3.0	1.0–1.5	967	$4,344	$4.49	9d	7	0.92mi
5805 Charlotte Dr San Jose, CA	1.0–3.0	1.0–2.0	1056	$4,757	$4.50	9d	25	0.97mi
5823 Brandon Ct San Jose, CA	4.0	3.5	2250	$4,700	$2.09	64d	1	0.97mi
161 Noyo Dr San Jose, CA	3.0	2.0	1280	$4,500	$3.52	9d	1	1.00mi
5977 Larkstone Loop San Jose, CA	3.0	3.5	1712	$4,850	$2.83	9d	1	1.03mi
5002 Brook Valley Loop San Jose, CA	3.0	3.0	1992	$4,500	$2.26	51d	1	1.04mi
5925 Charlotte Dr San Jose, CA	2.0	2.0	1261	$3,925	$3.11	41d	2	1.11mi
5925 Charlotte Dr #208 San Jose, CA	2.0	2.0	1261	$3,700	$2.93	28d	1	1.12mi
5959 Charlotte Dr San Jose, CA	3.0	4.0	1700	$4,000	$2.35	52d	1	1.15mi
150 Palm Valley Blvd San Jose, CA	1.0–3.0	1.0–2.0	1208	$4,999	$4.14	9d	27	1.24mi
5659 Lathrop Dr San Jose, CA	3.0	2.0	1543	$4,300	$2.79	22d	1	1.25mi
4755 Snow Dr San Jose, CA	3.0	2.0	1500	$3,550	$2.37	40d	1	1.26mi
6809 Canine Ct San Jose, CA	3.0	3.0	1822	$4,375	$2.40	41d	1	1.26mi
250 Palm Valley Blvd San Jose, CA	1.0–3.0	1.0–2.0	1014	$4,309	$4.25	9d	18	1.28mi
390 Oleander Dr San Jose, CA	3.0	2.5	1378	$3,895	$2.83	9d	1	1.32mi
6280 Ceanothus Ln San Jose, CA	3.0	3.0	1400	$4,250	$3.04	9d	1	1.33mi
350 La Strada Dr San Jose, CA	1.0–3.0	1.0–2.5	1119	$5,359	$4.79	9d	18	1.33mi
6320 Island Pine Way San Jose, CA	2.0	2.5	1293	$3,650	$2.82	37d	1	1.34mi
6320 Island Pine Way San Jose, CA	2.0	2.5	1293	$4,200	$3.25	52d	1	1.34mi
5607 Goldfield Dr San Jose, CA	4.0	2.0	1525	$5,000	$3.28	9d	1	1.35mi
6818 Chroma Ct San Jose, CA	3.0	3.0	1563	$4,295	$2.75	59d	1	1.37mi
6568 Vision Ct San Jose, CA	2.0	2.0	1096	$4,200	$3.83	9d	1	1.38mi
6254 Santa Teresa Blvd San Jose, CA	1.0–3.0	1.0–1.5	855	$4,064	$4.75	9d	7	1.42mi
6670 Emergent Way San Jose, CA	3.0	1.0–2.0	935	$4,753	$5.08	2d	11	1.46mi

Listing history 50 events

1. 2026-08-08
   days on market $359,900 Active 138 DOM
2. 2026-08-07
   days on market $359,900 Active 137 DOM
3. 2026-08-06
   days on market $359,900 Active 136 DOM
4. 2026-08-05
   days on market $359,900 Active 135 DOM
5. 2026-08-04
   days on market $359,900 Active 134 DOM
6. 2026-08-03
   days on market $359,900 Active 133 DOM
7. 2026-07-31
   days on market $359,900 Active 130 DOM
8. 2026-07-30
   days on market $359,900 Active 129 DOM
9. 2026-07-30
   days on market $359,900 Active 128 DOM
10. 2026-07-28
    days on market $359,900 Active 127 DOM
11. 2026-07-26
    days on market $359,900 Active 125 DOM
12. 2026-07-24
    days on market $359,900 Active 123 DOM
13. 2026-07-23
    days on market $359,900 Active 122 DOM
14. 2026-07-22
    days on market $359,900 Active 121 DOM
15. 2026-07-21
    days on market $359,900 Active 120 DOM
16. 2026-07-20
    days on market $359,900 Active 119 DOM
17. 2026-07-18
    days on market $359,900 Active 117 DOM
18. 2026-07-18
    days on market $359,900 Active 116 DOM
19. 2026-07-16
    days on market $359,900 Active 115 DOM
20. 2026-07-15
    days on market $359,900 Active 114 DOM
21. 2026-07-14
    days on market $359,900 Active 113 DOM
22. 2026-07-13
    days on market $359,900 Active 112 DOM
23. 2026-07-13
    days on market $359,900 Active 111 DOM
24. 2026-07-11
    days on market $359,900 Active 110 DOM
25. 2026-07-10
    days on market $359,900 Active 109 DOM
26. 2026-07-09
    days on market $359,900 Active 108 DOM
27. 2026-07-07
    days on market $359,900 Active 106 DOM
28. 2026-07-06
    days on market $359,900 Active 105 DOM
29. 2026-07-05
    days on market $359,900 Active 104 DOM
30. 2026-07-03
    days on market $359,900 Active 102 DOM
31. 2026-07-02
    days on market $359,900 Active 101 DOM
32. 2026-07-01
    days on market $359,900 Active 100 DOM
33. 2026-06-30
    days on market $359,900 Active 99 DOM
34. 2026-06-29
    price $359,900 Active 98 DOM
35. 2026-06-29
    days on market $379,900 Active 98 DOM
36. 2026-06-28
    days on market $379,900 Active 97 DOM
37. 2026-06-27
    days on market $379,900 Active 96 DOM
38. 2026-06-26
    days on market $379,900 Active 95 DOM
39. 2026-06-25
    days on market $379,900 Active 93 DOM
40. 2026-06-22
    days on market $379,900 Active 91 DOM
41. 2026-06-21
    days on market $379,900 Active 90 DOM
42. 2026-06-18
    days on market $379,900 Active 87 DOM
43. 2026-06-17
    days on market $379,900 Active 86 DOM
44. 2026-06-16
    days on market $379,900 Active 85 DOM
45. 2026-06-15
    days on market $379,900 Active 84 DOM
46. 2026-06-13
    days on market $379,900 Active 82 DOM
47. 2026-06-13
    days on market $379,900 Active 81 DOM
48. 2026-06-09
    days on market $379,900 Active 78 DOM
49. 2026-06-08
    days on market $379,900 Active 77 DOM
50. 2026-06-07
    days on market $379,900 Active 76 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 D · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥96°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 19 unhealthy d/yr today · 19 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,072
• − Mortgage interest: −$20,160
• − Property taxes: −$5,398
• − Insurance: −$1,800
• − Repairs & maintenance: −$3,046
• − Management: −$3,046
• − Depreciation: −$10,470
• Taxable loss: −$5,847
• Est. tax savings @ 24.0%: +$1,403
• After-tax cash flow: $1,634/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab Est. rehab $7,560–$22,680 screening

This 2018 manufactured home in Casa Alondra is in good condition with minimal repairs needed. It offers a good return on investment with updates that can significantly increase its value.

Value-add opportunities

• Both paint interior walls — fresh paint enhances curb appeal and interior aesthetics ↑
• Both replace countertops — new countertops improve functionality and aesthetics ↑
• Both install new flooring — new flooring can significantly increase both resale and rental value ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 54/100

Zoned Schools

Elementary Edenvale Elementary Middle Davis (Caroline) Intermediate High Oak Grove High C- CA #256/1,170 Nat'l #4,461/17,239

Schools (NCES district)

• District: Oak Grove Elementary
• NCES district ID: 0627810
• Math proficiency: 47% ▲ 1.00%
• Reading proficiency: 54% ▬ 0.00%
• Median HH income: $92,404
• Composite: 49.23/100
• National rank: #4382
• State rank: #339 of 1400 in CA

B Composite livability gradescore 78/100

Livability — San Jose

• Score: 78/100
• State rank: #68
• US rank: #2559

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: San Jose, CA
• County: Santa Clara County · 2,179,074 people
• City population: 954,479
• Metro: San Jose-Sunnyvale-Santa Clara, CA
• Population (ZIP): 57,202
• Household income: $101,435
• Rent vs Own: 40.1% rent · 59.9% own
• Severe rent burden: 22% of renters

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Population outlook (Santa Clara County) Hauer SSP2

• Today (2025): 2,179,074 people
• By 2030: 2,301,297 · +5.6%
• By 2040: 2,528,195 · +16.0%
• By 2050: 2,712,135 · +24.5%
• By 2075: 2,998,701 · +37.6%
• By 2100: 2,931,429 · +34.5%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Hispanic / Latino 51% Asian 36% Two or more races 22% White 7% Native American 2% Black 2%
• Hispanic origin (detail): Mexican 46%
• Foreign-born: 45% · Canada, Vietnam, China
• Languages at home: 27% English-only · Spanish 40% Vietnamese 24% Chinese 3%

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Political lean MEDSL · Santa Clara

• 2024 margin: Solid D (+40.0) · D 68.1% · R 28.1% · Other 3.8%
• 2008→2024 swing: -0.9pp no change · 2008: 40.9pp · 2024: 40.0pp
• All cycles: 2024: D+40.0 2020: D+47.4 2016: D+52.5 2012: D+42.1 2008: D+40.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1144.74%
• Current HPI: 339.7949
• Rent YoY: ▲ 1.00%
• Metro: San Jose-Sunnyvale-Santa Clara, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

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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

-5.0% since first listed

6 events — show timeline

• 2026-05-07 Price Changed $379,900 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-05-06 Price Changed $379,900 MLSListings
• 2026-03-23 Listed $399,900 MLSListings
• 2026-03-23 Listed $399,900 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-03-16 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-01-26 Listed — bridgeMLS, Bay East AOR, or Contra Costa AOR