5750 Via Real #243 · Carpinteria, CA 93013

$369,000

2 bd · 2.0 ba · 1,248 sqft · Manufactured · 1 Days on market

Built 1971 1,306 sqft lot Est $530k · 30% under

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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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +5.0/5.0
• Livability +3.4/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great location on the edge of Rancho Granada, views in backyard face Rincon Peak & mts. Space rent to new buyer $325.13 (includes water & Carp.sewer) Refrigerator,2 sheds,washer/dryer (stackable)& microwave stay. Occupancy 55+, small pet ok with manager's approvable.

Key facts

• 1,306 sq ft lot
• Parking
• Built 1971

Property features AI

Finance

• Other: Pets allowed with limitations
• HOA & community: Association membership required; Community clubhouse; Spa/Hot tub; Association covers water and common area maintenance

Exterior

• Parking: Carport
• Utilities: Heating available
• Home design: Double wide manufactured home by Fleetwood; Single-story
• Construction: Mobile home (manufactured); Updated/remodeled (average condition)
• Exterior features: Near public transit

Interior

• Kitchen: Refrigerator; Gas range; Microwave
• Flooring: Parquet flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating
• Interior features: Updated/remodeled condition; Dining area; Shed(s) on the property
• Laundry & utility: Laundry located in the kitchen

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $369k.

Deal economics

• At list price, monthly cash flow is $3k ($30k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $369k).
• Cap rate 14.5% vs local median 3.0% in Carpinteria — 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 (#283 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, crime B+; Watch: amenities F, cost of living F.
• Carpinteria Unified (suburban): math 27% / reading 43% proficiency, ranked #255 of 517 in CA (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Canalino Elementary (math 27% / reading 37%, grade F, #779 of 1,571 statewide, top 52%, 498 students, 62% FRL); Carpinteria Middle (math 24% / reading 45%, grade F, #183 of 498 statewide, top 38%, 406 students, 81% FRL); Carpinteria Senior High (math 15% / reading 47%, grade F, #702 of 1,170 statewide, top 61%, 653 students, 70% FRL) — zoned schools average 71% FRL vs 51% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+15.2%/yr); 78 active listings in the ZIP; 5 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; high-income renter base; 719 units permitted in Santa Barbara County in 2024 (217 in 5+ unit buildings).
• At $6,407/mo this rent would consume 70% of the median local household income ($110k/yr) (locally 718% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Santa Barbara County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $103k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 28y 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 $113k; list at $369k implies a 227% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $369,000

Questions for the listing agent

1. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.74% ✓
• Cap rate: 14.46%
• Cash-on-cash: 29.17%
• DSCR: 2.30
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $530,400
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5700 Via Real #75	0.17mi	2/2.0	1,248 (0%)	5mo	$515,000	$413	88
5750 Via Real #244	0.01mi	2/2.0	1,344 (+8%)	9mo	$355,000	$264	79
5750 Via Real #255	0.05mi	2/2.0	1,344 (+8%)	9mo	$369,000	$275	78
5700 Via Real #131	0.17mi	2/2.0	1,200 (-4%)	23mo	$510,000	$425	66
5700 Via Real #64	0.17mi	2/2.0	1,122 (-10%)	12mo	$530,000	$472	65
5700 Via Real #125	0.17mi	3/2.0 (+1)	1,120 (-10%)	10mo	$530,000	$473	62
5700 Via Real #43	0.17mi	2/2.0	1,120 (-10%)	18mo	$450,000	$402	60
5750 Via Real #289	0.06mi	3/2.0 (+1)	1,104 (-12%)	20mo	$573,000	$519	56

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 29.1%
• Equity multiple: 2.30×
• Total profit: $134,141
• Equity at exit: $55,019

10-year hold

• IRR: 39.3%
• Equity multiple: 5.62×
• Total profit: $477,314
• Equity at exit: $31,904

Cash invested: $103,320 (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 93013

• Rents YoY: 15.2%
• Active inventory: 78
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $6,407 high
• Mortgage (P&I): −$1,935
• Tax est. 1.5%: −$461 /mo · $5,535/yr
• Insurance: −$154
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,346
• Net cashflow: $2,512

Break-even live

Break-even rent $3,228

Max offer price $369,000

Occupancy floor 56%

Sensitivity live

Price	-10% $2,767	-5% $2,639	+0% $2,512	+5% $2,384	+10% $2,257
Rent	-10% $2,006	-5% $2,259	+0% $2,512	+5% $2,765	+10% $3,018
Rate	-1.0pp $2,698	-0.5pp $2,606	base $2,512	+0.5pp $2,416	+1.0pp $2,319

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: $92,250
• Closing costs: $11,070
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4745 Carpinteria Ave Carpinteria, CA	2.0	2.0	1365	$5,125	$3.75	3d	13	1.05mi
4975 Sandyland Rd #212 Carpinteria, CA	2.0	1.0	800	$9,500	$11.88	45d	1	1.15mi
250 Ash Ave Unit C Carpinteria, CA	2.0	1.5	700	$4,950	$7.07	16d	1	1.24mi
160 Ash Ave Unit 7 Carpinteria, CA	2.0	1.0	850	$3,950	$4.65	45d	1	1.25mi
1488 Manzanita St Carpinteria, CA	3.0	2.0	1131	$11,500	$10.17	13d	1	1.36mi

Listing history 9 events

1. 2026-05-21
   status Pending
2. 2026-05-21
   listed $369,000 Active
3. 2026-05-19
   historical $369,000
4. 2002-09-24
   soldstatus $113,000 281-char remark

   Show marketing remark (281 chars)

   Great location on the edge of Rancho Granada, views in backyard face Rincon Peak & mts. Space rent to new buyer $325.13 (includes water & Carp.sewer) Refrigerator,2 sheds,washer/dryer (stackable)& microwave stay. Occupancy 55+, small pet ok with manager's approvable.

5. 2002-09-09
   historical 281-char remark

   Show marketing remark (281 chars)

   Great location on the edge of Rancho Granada, views in backyard face Rincon Peak & mts. Space rent to new buyer $325.13 (includes water & Carp.sewer) Refrigerator,2 sheds,washer/dryer (stackable)& microwave stay. Occupancy 55+, small pet ok with manager's approvable.

6. 2002-06-10
   listed $114,900 281-char remark

   Show marketing remark (281 chars)

   Great location on the edge of Rancho Granada, views in backyard face Rincon Peak & mts. Space rent to new buyer $325.13 (includes water & Carp.sewer) Refrigerator,2 sheds,washer/dryer (stackable)& microwave stay. Occupancy 55+, small pet ok with manager's approvable.

7. 1999-01-15
   soldstatus $52,000 336-char remark

   Show marketing remark (336 chars)

   COZY & CHARMING DOUBLEWIDE.BACKS UP TO NURSERY.BUILT IN BUF-FET/CHINA CABINET.$6K IN RESIDE EXTERIOR.DUO CAP ROOF.LARGE LIVING ROOM.SHED.PRIVATE PATIO AND COVERED PORCH.NEEDS A LITTLE TLC.GORGEOUS ANTIQUES,MANY FOR SALE SEPERATELY.LOW SPACERENT.SENIOR PARK.''AS IS'' SALE.CASH OUT.TO SHOW CALL LLOYD AT684-1665,10 TO 4PM.LB BY APPT.

8. 1999-01-11
   historical 336-char remark

   Show marketing remark (336 chars)

   COZY & CHARMING DOUBLEWIDE.BACKS UP TO NURSERY.BUILT IN BUF-FET/CHINA CABINET.$6K IN RESIDE EXTERIOR.DUO CAP ROOF.LARGE LIVING ROOM.SHED.PRIVATE PATIO AND COVERED PORCH.NEEDS A LITTLE TLC.GORGEOUS ANTIQUES,MANY FOR SALE SEPERATELY.LOW SPACERENT.SENIOR PARK.''AS IS'' SALE.CASH OUT.TO SHOW CALL LLOYD AT684-1665,10 TO 4PM.LB BY APPT.

9. 1998-06-13
   listed $57,500 336-char remark

   Show marketing remark (336 chars)

   COZY & CHARMING DOUBLEWIDE.BACKS UP TO NURSERY.BUILT IN BUF-FET/CHINA CABINET.$6K IN RESIDE EXTERIOR.DUO CAP ROOF.LARGE LIVING ROOM.SHED.PRIVATE PATIO AND COVERED PORCH.NEEDS A LITTLE TLC.GORGEOUS ANTIQUES,MANY FOR SALE SEPERATELY.LOW SPACERENT.SENIOR PARK.''AS IS'' SALE.CASH OUT.TO SHOW CALL LLOYD AT684-1665,10 TO 4PM.LB BY APPT.

ⓘ 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 7/10 Severe 7 d/yr ≥84°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 12 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $76,889
• − Mortgage interest: −$20,670
• − Property taxes: −$5,535
• − Insurance: −$1,845
• − Repairs & maintenance: −$6,151
• − Management: −$6,151
• − Depreciation: −$10,735
• Taxable income: $25,802
• Est. tax owed @ 24.0%: −$6,193
• After-tax cash flow: $23,949/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: Carpinteria Unified
• NCES district ID: 0607560
• Math proficiency: 27% ▼ -16.00%
• Reading proficiency: 43% ▼ -5.00%
• Median HH income: $70,780
• Composite: 32.27/100
• National rank: #5758
• State rank: #255 of 517 in CA

Livability — Carpinteria

• Score: 68/100
• State rank: #283
• US rank: #9548

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Carpinteria, CA
• County: Santa Barbara County · 410,380 people
• City population: 16,317
• Metro: Santa Maria-Santa Barbara, CA
• Population (ZIP): 16,317
• Household income: $110,359
• Rent vs Own: 39.0% rent · 61.0% own
• Severe rent burden: 718.0

Population outlook (Santa Barbara County) Hauer SSP2

• Today (2025): 484,679 people
• By 2030: 505,323 · +4.3%
• By 2040: 545,783 · +12.6%
• By 2050: 584,263 · +20.5%
• By 2075: 682,586 · +40.8%
• By 2100: 723,188 · +49.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 51% Hispanic / Latino 41% Two or more races 17% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 38%
• Common ancestry: Slovak 4% Lithuanian 3% Romanian 2%
• Foreign-born: 22% · Canada
• Languages at home: 66% English-only · Spanish 29% Other Indo-European 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Santa Barbara

• 2024 margin: Strong D (+26.7) · D 61.8% · R 35.1% · Other 3.1%
• 2008→2024 swing: +3.8pp toward D · 2008: 22.9pp · 2024: 26.7pp
• All cycles: 2024: D+26.7 2020: D+32.1 2016: D+28.2 2012: D+17.1 2008: D+22.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1390.66%
• Current HPI: 345.0001
• Rent YoY: ▲ 15.23%
• Metro: Santa Maria-Santa Barbara, 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

+541.7% since first listed

9 events — show timeline

• 2026-05-21 Pending — SBMLS
• 2026-05-21 Listed $369,000 SBMLS
• 2026-05-19 Coming Soon $369,000 SBMLS
• 2002-09-24 Sold (MLS) $113,000 SBMLS
• 2002-09-09 Listing Removed — SBMLS
• 2002-06-10 Listed $114,900 SBMLS
• 1999-01-15 Sold (MLS) $52,000 SBMLS
• 1999-01-11 Listing Removed — SBMLS
• 1998-06-13 Listed $57,500 SBMLS