1255 Orcutt Rd Unit B14 · San Luis Obispo, CA 93401

$164,950

2 bd · 2.0 ba · 560 sqft · Manufactured · 185 Days on market

Built 2026 $295/sqft · 15% above area Est $143k · 15% over

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.6/10.0
• Livability +3.7/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• ARV discount +0.6/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Brand new 2026 Champion manufactured home located in the Colonial Manor Manufactured Home Community in San Luis Obispo, CA. This well-designed single-wide offers 2 bedrooms and 2 bathrooms with a functional layout. The kitchen features stainless steel appliances, and the home includes indoor laundry hookups for added convenience. Enjoy comfortable, low maintenance living with affordable space rent of $995 per month.

Key facts

• Built 2026
• Listed 185 days

Tags

• STAINLESS STEEL APPLIANCES
• INDOOR LAUNDRY HOOKUPS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $165k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $165k).
• Recommended offer: $145k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.3% vs local median 2.1% in San Luis Obispo — 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 74/100 on livability (#132 in CA, #4,576 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: crime F, cost of living F.
• San Luis Coastal Unified (urban): math 50% / reading 58% proficiency, ranked #118 of 517 in CA (top 23%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.4%/yr); 143 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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 35% of the median local income ($97k/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 $5k 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.
• At projected returns (-3.0% appreciation + 4.4% rent growth), your $46k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 185 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 16y ago; this cycle's ask has dropped $35k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,156 (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. 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.72% ✓
• Cap rate: 14.28%
• Cash-on-cash: 28.52%
• DSCR: 2.27
• GRM: 4.9

CMA / ARV

• ARV (median comp): $142,919
• List price: $164,950
• Delta: 15.42%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1121 Orcutt Rd #10	0.07mi	1/1.0 (-1)	547 (-2%)	8mo	$180,600	$330	77
1121 Orcutt #35	0.07mi	2/1.0	480 (-14%)	1mo	$108,000	$225	68

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 · 4.41% rent growth · sell at horizon

5-year hold

• IRR: 24.4%
• Equity multiple: 2.02×
• Total profit: $47,293
• Equity at exit: $24,595

10-year hold

• IRR: 33.1%
• Equity multiple: 4.22×
• Total profit: $148,576
• Equity at exit: $14,262

Cash invested: $46,186 (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 93401

• Rents YoY: 4.4%
• Active inventory: 143
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $2,832 medium
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,474/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$595
• Net cashflow: $1,098

Break-even live

Break-even rent $1,443

Max offer price $164,950

Occupancy floor 56%

Sensitivity live

Price	-10% $1,212	-5% $1,155	+0% $1,098	+5% $1,041	+10% $984
Rent	-10% $874	-5% $986	+0% $1,098	+5% $1,209	+10% $1,321
Rate	-1.0pp $1,181	-0.5pp $1,140	base $1,098	+0.5pp $1,055	+1.0pp $1,011

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: $41,238
• Closing costs: $4,948
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
791 Orcutt Rd San Luis Obispo, CA	1.0	1.0	651	$2,750	$4.22	22d	3	0.41mi
3150 Rockview Pl #8 San Luis Obispo, CA	1.0	1.0	600	$2,475	$4.12	44d	1	0.58mi
2800 Broad St San Luis Obispo, CA	1.0	1.0	464	$2,500	$5.39	44d	1	0.66mi

Listing history 30 events

1. 2026-06-19
   price $164,950 Active 185 DOM
2. 2026-06-18
   days on market $169,950 Active 185 DOM
3. 2026-06-17
   days on market $169,950 Active 184 DOM
4. 2026-06-16
   days on market $169,950 Active 183 DOM
5. 2026-06-15
   days on market $169,950 Active 182 DOM
6. 2026-06-14
   days on market $169,950 Active 180 DOM
7. 2026-06-13
   days on market $169,950 Active 179 DOM
8. 2026-06-10
   days on market $169,950 Active 177 DOM
9. 2026-06-09
   days on market $169,950 Active 176 DOM
10. 2026-06-08
    days on market $169,950 Active 175 DOM
11. 2026-06-07
    days on market $169,950 Active 174 DOM
12. 2026-06-03
    days on market $169,950 Active 170 DOM
13. 2026-06-02
    days on market $169,950 Active 169 DOM
14. 2026-06-01
    days on market $169,950 Active 168 DOM
15. 2026-05-31
    days on market $169,950 Active 167 DOM
16. 2026-05-30
    days on market $169,950 Active 166 DOM
17. 2026-04-27
    price $169,950 419-char remark

    Show marketing remark (419 chars)

    Brand new 2026 Champion manufactured home located in the Colonial Manor Manufactured Home Community in San Luis Obispo, CA. This well-designed single-wide offers 2 bedrooms and 2 bathrooms with a functional layout. The kitchen features stainless steel appliances, and the home includes indoor laundry hookups for added convenience. Enjoy comfortable, low maintenance living with affordable space rent of $995 per month.

18. 2026-04-01
    price $174,950 419-char remark

    Show marketing remark (419 chars)

    Brand new 2026 Champion manufactured home located in the Colonial Manor Manufactured Home Community in San Luis Obispo, CA. This well-designed single-wide offers 2 bedrooms and 2 bathrooms with a functional layout. The kitchen features stainless steel appliances, and the home includes indoor laundry hookups for added convenience. Enjoy comfortable, low maintenance living with affordable space rent of $995 per month.

19. 2026-03-05
    price $179,950 419-char remark

    Show marketing remark (419 chars)

    Brand new 2026 Champion manufactured home located in the Colonial Manor Manufactured Home Community in San Luis Obispo, CA. This well-designed single-wide offers 2 bedrooms and 2 bathrooms with a functional layout. The kitchen features stainless steel appliances, and the home includes indoor laundry hookups for added convenience. Enjoy comfortable, low maintenance living with affordable space rent of $995 per month.

20. 2026-02-05
    price $184,950 419-char remark

    Show marketing remark (419 chars)

    Brand new 2026 Champion manufactured home located in the Colonial Manor Manufactured Home Community in San Luis Obispo, CA. This well-designed single-wide offers 2 bedrooms and 2 bathrooms with a functional layout. The kitchen features stainless steel appliances, and the home includes indoor laundry hookups for added convenience. Enjoy comfortable, low maintenance living with affordable space rent of $995 per month.

21. 2026-01-12
    price $189,950 419-char remark

    Show marketing remark (419 chars)

    Brand new 2026 Champion manufactured home located in the Colonial Manor Manufactured Home Community in San Luis Obispo, CA. This well-designed single-wide offers 2 bedrooms and 2 bathrooms with a functional layout. The kitchen features stainless steel appliances, and the home includes indoor laundry hookups for added convenience. Enjoy comfortable, low maintenance living with affordable space rent of $995 per month.

22. 2025-12-15
    listed $199,950 Active 419-char remark

    Show marketing remark (419 chars)

    Brand new 2026 Champion manufactured home located in the Colonial Manor Manufactured Home Community in San Luis Obispo, CA. This well-designed single-wide offers 2 bedrooms and 2 bathrooms with a functional layout. The kitchen features stainless steel appliances, and the home includes indoor laundry hookups for added convenience. Enjoy comfortable, low maintenance living with affordable space rent of $995 per month.

23. 2017-04-12
    historical
24. 2017-04-07
    historical
25. 2015-01-06
    historical
26. 2010-12-22
    historical
27. 2010-09-22
    listed $50,000
28. 2010-09-22
    listed $50,000
29. 2010-04-17
    listed $58,000
30. 2010-04-17
    listed $58,000

ⓘ 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 6/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥84°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 11 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,987
• − Mortgage interest: −$9,240
• − Property taxes: −$2,474
• − Insurance: −$825
• − Repairs & maintenance: −$2,719
• − Management: −$2,719
• − Depreciation: −$4,799
• Taxable income: $11,212
• Est. tax owed @ 24.0%: −$2,691
• After-tax cash flow: $10,480/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: San Luis Coastal Unified
• NCES district ID: 0634800
• Math proficiency: 50% ▼ -14.00%
• Reading proficiency: 58% ▼ -12.00%
• Median HH income: $53,428
• Composite: 46.4/100
• National rank: #2455
• State rank: #118 of 517 in CA

Livability — San Luis Obispo

• Score: 74/100
• State rank: #132
• US rank: #4576

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: San Luis Obispo, CA
• County: San Luis Obispo County · 224,651 people
• City population: 54,204
• Metro: San Luis Obispo-Paso Robles, CA
• Population (ZIP): 29,202
• Household income: $96,824
• Rent vs Own: 52.1% rent · 47.9% own
• Severe rent burden: 2050.0

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: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 18% Two or more races 12% Asian 4% Black 2%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Lithuanian 4% Italian 3% Portuguese 3%
• Foreign-born: 9% · Canada, China, South Korea
• Languages at home: 84% English-only · Spanish 10% Chinese 1% Other Asian/Pacific 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: ▼ -796.84%
• Current HPI: 359.9248
• Rent YoY: ▲ 4.41%
• 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

+193.0% since first listed

14 events — show timeline

• 2026-04-27 Price Changed $169,950 CRMLS
• 2026-04-01 Price Changed $174,950 CRMLS
• 2026-03-05 Price Changed $179,950 CRMLS
• 2026-02-05 Price Changed $184,950 CRMLS
• 2026-01-12 Price Changed $189,950 CRMLS
• 2025-12-15 Listed $199,950 CRMLS
• 2017-04-12 Listing Removed — NSBCRMLS
• 2017-04-07 Listing Removed — NSBCRMLS
• 2015-01-06 Listing Removed — CRMLS
• 2010-12-22 Listing Removed — CRMLS
• 2010-09-22 Listed $50,000 CRMLS
• 2010-09-22 Listed $50,000 NSBCRMLS
• 2010-04-17 Listed $58,000 CRMLS
• 2010-04-17 Listed $58,000 NSBCRMLS