355 Parkview Ter Unit B9

Vallejo, CA 94589

$207,000D-

1 bd · 1.0 ba · 793 sqft · Built 1973 · Condo · Active · 133 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,940/mo
• Mortgage (P&I): −$1,086
• Tax + insurance: −$345
• HOA: −$582
• Vac / Maint / Mgmt: −$407
• Net cashflow: $-480/mo
• Annual: $-5,761/yr
• Cap rate: 3.51%
• Cash-on-cash: -9.94%
• DSCR: 0.56
• 1% rule: 0.94%
• Cash to close: $57,960

Investor read

• This is a 1-bed/1.0-bath condo listed at $207k. Condition is rated good.
• At list price, monthly cash flow is $-480 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $138k (33.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $194k (6.3% below list).
• It's been on market 133 days — a 12% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $138k (33.6% below list) — sets the bar for cash-flow.
• 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.
• Location reads 67/100 on livability (#304 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: crime F, cost of living F.
• Vallejo City Unified (urban): math 20% / reading 30% proficiency, ranked #1,124 of 1,400 in CA (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Cave Language Academy (411 students, 68% FRL); Hogan Middle (867 students, 85% FRL); Vallejo High (math 10% / reading 50%, grade F, #723 of 1,170 statewide, top 64%, 1,335 students, 80% FRL) — zoned schools average 78% FRL vs 62% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: HOA is 30% of rent.
• Market conditions: Rents rising fast (+5.5%/yr); 108 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals lingering (median 63d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,472 units permitted in Solano County in 2024 (131 in 5+ unit buildings).
• Solano County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 133 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
• Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?