2355 Atwater Blvd Spc 22 · Atwater, CA 95301

$59,999

3 bd · 2.0 ba · 840 sqft · Manufactured · 99 Days on market

Built 2016 Est $67k · 11% under ↓ 43% since listing

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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 +12.3/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.4/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Well maintained three bedroom, two bathroom mobile home built in 2016, offering a comfortable and functional layout! The open kitchen and living room combination creates a welcoming space for everyday living and entertaining. The home features neutral color tones throughout, providing a clean and modern feel ready for your personal touch. Conveniently located within Atwater, you'll enjoy close proximity to shopping, dining, schools, and other local amenities. A great opportunity for affordable living in a convenient location. This is an all age park!

Key facts

• Built 2016
• Listed 99 days

Tags

• OPEN KITCHEN AND LIVING ROOM
• CLOSE PROXIMITY TO SHOPPING
• CLOSE PROXIMITY TO DINING
• CLOSE PROXIMITY TO SCHOOLS

Property features AI

Finance

• Other: Mobile home remains on the parcel; Park requires manager approval for occupancy
• Financial info: Rent includes: see remarks
• HOA & community: Located in Camellia Estates mobile home park; Monthly land lease approximately $795 (park-managed, manager approval required); Community features include street lighting

Exterior

• Parking: Asphalt driveway; Parking available in park (Camellia Estates)
• Utilities: Public sewer; District/public water
• Home design: Manufactured/mobile home (model 1460N3SOUTH); Single-story; Entry at main level; Mobile dimensions approximately 14 ft by 60 ft
• Construction: Raised foundation; Year built per public records
• Exterior features: Patio available; No fencing; No pool; No landscaping; Has a view

Interior

• Kitchen: Gas oven
• Bedrooms: All bedrooms on the main/ground level
• Flooring: Laminate flooring
• Bathrooms: One full bathroom; One three-quarter bathroom; Shower in tub and separate shower present
• Heating & cooling: Central heating (furnace); Central cooling
• Interior features: Single-level living (one story), main-level entry; All bedrooms located on the downstairs/main level; Raised foundation
• Laundry & utility: Laundry area inside the home

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $60k.

Deal economics

• At list price, monthly cash flow is $764 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $55k (9.0% below list) — sets the bar for market timing.
• Cap rate 21.6% vs local median 2.8% in Atwater — 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 68/100 on livability (#295 in CA) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, amenities B; Watch: employment D+, schools D, crime F.
• Merced Union High (urban): math 20% / reading 46% proficiency, ranked #301 of 517 in CA (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 115 active listings in the ZIP; 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 $415 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 $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $8k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $54,599 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% 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. 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?
5. 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?
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: 2.49% ✓
• Cap rate: 21.57%
• Cash-on-cash: 54.57%
• DSCR: 3.43
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $67,200
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2324 Olive Ave #13	0.03mi	2/1.0 (-1)	742 (-12%)	8mo	$50,000	$67	64
2355 Atwater Blvd #11	0.03mi	2/1.0 (-1)	742 (-12%)	10mo	$59,000	$80	62
2355 Atwater #23	0.00mi	3/2.0	725 (-14%)	19mo	$64,950	$90	62

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: 52.8%
• Equity multiple: 3.32×
• Total profit: $38,955
• Equity at exit: $8,946

10-year hold

• IRR: 58.0%
• Equity multiple: 6.75×
• Total profit: $96,663
• Equity at exit: $5,188

Cash invested: $16,800 (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 95301

• Active inventory: 115
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,492 medium
• Mortgage (P&I): −$315
• Tax est. 1.5%: −$75 /mo · $900/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $764

Break-even live

Break-even rent $525

Max offer price $59,999

Occupancy floor 44%

Sensitivity live

Price	-10% $805	-5% $785	+0% $764	+5% $743	+10% $722
Rent	-10% $646	-5% $705	+0% $764	+5% $823	+10% $882
Rate	-1.0pp $794	-0.5pp $779	base $764	+0.5pp $748	+1.0pp $733

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $59,999 Active 99 DOM
2. 2026-06-17
   days on market $59,999 Active 98 DOM
3. 2026-06-16
   days on market $59,999 Active 97 DOM
4. 2026-06-15
   days on market $59,999 Active 96 DOM
5. 2026-06-14
   days on market $59,999 Active 94 DOM
6. 2026-06-13
   days on market $59,999 Active 93 DOM
7. 2026-06-10
   days on market $59,999 Active 91 DOM
8. 2026-06-09
   days on market $59,999 Active 90 DOM
9. 2026-06-08
   days on market $59,999 Active 89 DOM
10. 2026-06-07
    pricedays on market $59,999 Active 88 DOM
11. 2026-06-03
    days on market $63,000 Active 84 DOM
12. 2026-06-02
    days on market $63,000 Active 83 DOM
13. 2026-06-01
    days on market $63,000 Active 82 DOM
14. 2026-05-31
    days on market $63,000 Active 81 DOM
15. 2026-05-30
    days on market $63,000 Active 80 DOM
16. 2026-04-22
    price $63,000
17. 2026-04-02
    price $65,000
18. 2026-03-11
    listed $68,000 Active
19. 2022-12-14
    historical
20. 2022-11-23
    listed $110,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $17,902
• − Mortgage interest: −$3,361
• − Property taxes: −$900
• − Insurance: −$300
• − Repairs & maintenance: −$1,432
• − Management: −$1,432
• − Depreciation: −$1,745
• Taxable income: $8,732
• Est. tax owed @ 24.0%: −$2,096
• After-tax cash flow: $7,071/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: Merced Union High
• NCES district ID: 0624660
• Math proficiency: 20% ▲ 3.00%
• Reading proficiency: 46% ▼ -1.00%
• Median HH income: $44,977
• Composite: 28.11/100
• National rank: #6823
• State rank: #301 of 517 in CA

Livability — Atwater

• Score: 68/100
• State rank: #295
• US rank: #9893

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Atwater, CA
• County: Merced County · 205,386 people
• City population: 43,009
• Metro: Merced, CA
• Population (ZIP): 43,009
• Household income: $68,349
• Rent vs Own: 43.4% rent · 56.6% own
• Severe rent burden: 1477.0

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Hispanic / Latino 53% White 33% Two or more races 11% Asian 6% Black 4% Native American 1%
• Hispanic origin (detail): Mexican 50%
• Common ancestry: Russian 7% Slovak 1% Iranian 1%
• Foreign-born: 21% · Canada
• Languages at home: 56% English-only · Spanish 37% Other Indo-European 3% Other Asian/Pacific 2%

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: ▼ -365.43%
• Current HPI: 281.52
• Rent YoY: —
• Metro: Merced, 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

-42.7% since first listed

5 events — show timeline

• 2026-04-22 Price Changed $63,000 CRMLS
• 2026-04-02 Price Changed $65,000 CRMLS
• 2026-03-11 Listed $68,000 CRMLS
• 2022-12-14 Listing Removed — CRMLS
• 2022-11-23 Listed $110,000 CRMLS