2150 Monterey Rd #243 · San Jose, CA 95112

$450,000

3 bd · 2.0 ba · 1,620 sqft · Manufactured · 5 Days on market

Built 2009 Est $462k · at est.

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Why this score? — see what drove the C 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 +22.1/30.0
• ARV discount +8.6/15.0
• DSCR +7.1/10.0
• Schools +5.5/10.0
• 1% rule +4.6/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful, well maintained home with hardwood floors in living room & hallway. Custom plantation shutters throughout. Generous eat-in kitchen with island & stainless appliances. Sizeable primary bedroom with walk-in closet. Primary bath with double sinks, shower & ample linen closet. All bedrooms having carpeting. Separate laundry room off side entry. Covered driveway and side yard feature paver-tile surfaces and a composite porches. The property is gated, backyard has artificial grass & 3 storage sheds. Space rent is $695.33/month. Park offers a clubhouse, pool & spa. At the end of the street is a playground.

Key facts

• Double sinks
• Walk-in closet
• Stainless appliances

Tags

• HARDWOOD FLOORS
• CUSTOM PLANTATION SHUTTERS
• EAT-IN KITCHEN
• STAINLESS APPLIANCES
• WALK-IN CLOSET
• DOUBLE SINKS

Property features AI

Finance

• Other: Directions: Enter through the back entrance at 2099 Seventh Street, make a right onto the first street; the house is the third on the right.
• HOA & community: Community clubhouse; Common utility room; Community pool; Playground; Sauna / spa / hot tub; Board approval required for purchase; Pet friendly (cats and dogs permitted; some number restrictions)

Exterior

• Parking: Covered parking; Carport (2 spaces); Guest/visitor parking; Assigned space number 243 (space rent applies)
• Security: Fire sprinkler system
• Utilities: Public water; Public sewer; Public utilities
• Home design: Single-story; Leased land
• Construction: Composition roofing
• Exterior features: Composition roof; Cable TV available; Parking included (see parking section)

Interior

• Kitchen: Gas cooktop; Gas oven/range; Granite countertops; Kitchen island; Dishwasher; Microwave; Garbage disposal; Ice maker; Refrigerator; Exhaust fan; Gas hookups
• Bedrooms: 3 bedrooms; Ground-floor bedroom; Walk-in closet
• Flooring: Carpet; Hardwood; Tile
• Bathrooms: 2 full bathrooms; Double sinks; Granite counters; Stall shower; Tile surfaces
• Heating & cooling: Central forced air heating and cooling
• Interior features: Laundry room; Gas-burning fireplace; Fire sprinkler system; Grab bars
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $450k.

Deal economics

• At list price, monthly cash flow is $723 ($9k/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 $431k (4.3% below list).
• Recommended offer: $431k (4.3% below list) — sets the bar for 1% rule.
• Cap rate 8.2% 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.
• East Side Union High (urban): math 53% / reading 70% proficiency, ranked #69 of 517 in CA (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.2%/yr); 106 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 3,838 units permitted in Santa Clara County in 2024 (1,886 in 5+ unit buildings).
• At $4,306/mo this rent would consume 58% of the median local household income ($89k/yr) (locally 4364% 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 $14k 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

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Recommended offer $430,566 (4.3% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 0.96% ✗
• Cap rate: 8.22%
• Cash-on-cash: 6.89%
• DSCR: 1.31
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $461,700
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2150 MONTEREY Hwy #239	0.12mi	3/2.0	1,440 (-11%)	7mo	$410,000	$285	70
2150 Monterey Rd #264	0.12mi	3/2.0	1,440 (-11%)	11mo	$375,000	$260	66

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 · 4.25% rent growth · sell at horizon

5-year hold

• IRR: -4.5%
• Equity multiple: 0.83×
• Total profit: $-21,573
• Equity at exit: $67,096

10-year hold

• IRR: 6.4%
• Equity multiple: 1.50×
• Total profit: $62,794
• Equity at exit: $38,908

Cash invested: $126,000 (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 →

ZIP-level market 95112

• Rents YoY: 4.2%
• Active inventory: 106
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $4,306 high
• Mortgage (P&I): −$2,360
• Tax from tax record: −$131 /mo · $1,570/yr
• Insurance: −$188
• HOA: −$0
• Vacancy / Maint / Mgmt: −$904
• Net cashflow: $723

Break-even live

Break-even rent $3,390

Max offer price $450,000

Occupancy floor 78%

Sensitivity live

Price	-10% $978	-5% $851	+0% $723	+5% $596	+10% $469
Rent	-10% $383	-5% $553	+0% $723	+5% $893	+10% $1,063
Rate	-1.0pp $950	-0.5pp $838	base $723	+0.5pp $607	+1.0pp $488

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
262 Azevedo Cir #1603 San Jose, CA	3.0	3.0	1620	$3,720	$2.30	2d	1	0.60mi
334 Olive Hill Dr San Jose, CA	2.0	3.0	1368	$4,150	$3.03	2d	1	0.67mi
45 Esfahan Dr San Jose, CA	3.0	2.5	1794	$4,395	$2.45	2d	1	0.97mi
2750 Ferrara Cir San Jose, CA	4.0	3.5	2042	$5,000	$2.45	2d	1	1.06mi
1746 Bevin Brook Dr San Jose, CA	3.0	3.0	1201	$3,700	$3.08	2d	1	1.06mi
2700 Lavender Ter #1666 San Jose, CA	4.0	3.0	2140	$5,710	$2.67	2d	1	1.07mi
590 Almaden Walk Loop San Jose, CA	3.0	3.0	1425	$3,995	$2.80	44d	1	1.10mi
1395 Vine St San Jose, CA	3.0	1.0	1500	$3,525	$2.35	24d	1	1.11mi
800 Batista Dr San Jose, CA	3.0	3.0	2099	$4,875	$2.32	2d	1	1.18mi
2070 Mary Helen Ln San Jose, CA	3.0	4.0	1781	$4,600	$2.58	2d	1	1.18mi
2212 Almaden Rd Unit B San Jose, CA	2.0	2.0	1200	$3,195	$2.66	4d	1	1.24mi
1277 Babb Ct San Jose, CA	2.0	2.0	1123	$3,550	$3.16	4d	3	1.27mi
326 Agustin Narvaez St #5 San Jose, CA	3.0	3.5	1922	$5,200	$2.71	17d	1	1.36mi
2986 Lina St #7 San Jose, CA	3.0	3.0	1813	$5,500	$3.03	17d	1	1.37mi
1006 Summerplace Dr San Jose, CA	2.0	2.5	1068	$3,650	$3.42	2d	1	1.40mi
1092 Keldon Dr San Jose, CA	3.0	2.0	1600	$6,500	$4.06	2d	1	1.48mi
3072 Lina Loop San Jose, CA	4.0	3.5	2153	$5,050	$2.35	2d	1	1.48mi

Listing history 7 events

1. 2026-06-18
   days on market $450,000 Active 5 DOM
2. 2026-06-17
   remarks 670-char remark
3. 2026-06-17
   statusdays on market $450,000 Active 4 DOM
4. 2026-06-15
   statusdays on market $450,000 Pending (Do Not Show) 3 DOM
5. 2026-06-13
   days on market $450,000 Active 2 DOM
6. 2026-06-13
   remarks 647-char remark
7. 2026-06-13
   listed $450,000 Active 1 DOM

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

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $1,570 · $131/mo
• Projected year-2 tax: $3,420 · $285/mo
• Expected delta: +$1,850/yr (+$154/mo · 117.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $51,668
• − Mortgage interest: −$25,207
• − Property taxes: −$1,570
• − Insurance: −$2,250
• − Repairs & maintenance: −$4,133
• − Management: −$4,133
• − Depreciation: −$13,091
• Taxable income: $1,283
• Est. tax owed @ 24.0%: −$308
• After-tax cash flow: $8,371/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: East Side Union High
• NCES district ID: 0611820
• Math proficiency: 53% ▲ 12.00%
• Reading proficiency: 70% ▲ 8.00%
• Median HH income: $80,293
• Composite: 55.15/100
• National rank: #1278
• State rank: #69 of 517 in CA

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 · 1,806,974 people
• City population: 954,479
• Metro: San Jose-Sunnyvale-Santa Clara, CA
• Population (ZIP): 57,373
• Household income: $89,103
• Rent vs Own: 73.6% rent · 26.4% own
• Severe rent burden: 4364.0

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: Hispanic / Latino 41% Asian 27% White 22% Two or more races 18% Black 5% Native American 2%
• Hispanic origin (detail): Mexican 33%
• Common ancestry: Slovak 1% Lithuanian 1% Scotch-Irish 1%
• Foreign-born: 34% · Canada, Vietnam, China
• Languages at home: 48% English-only · Spanish 29% Vietnamese 9% Chinese 6%

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: ▼ -1025.61%
• Current HPI: 297.1788
• Rent YoY: ▲ 4.25%
• Metro: San Jose-Sunnyvale-Santa Clara, 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

+0.0% since first listed

2 events — show timeline

• 2026-06-12 Listed $450,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-06-12 Listed $450,000 MLSListings

Property tax history

-8.8%/yr

Latest (2011): $1,570 · -10.2% YoY. Source: county tax records.