4837 Faith Home Rd #162 · Keyes, CA 95307

$118,000

2 bd · 2.0 ba · 1,536 sqft · Manufactured · 23 Days on market

Built 1974 Good condition Est $115k · at est.

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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
• ARV discount +6.4/15.0
• Condition / age +4.0/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Livability +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this beautifully updated manufactured home in Ceres, CA, located in an ALL-AGE family park! This spacious 2-bedroom, 2-bath home offers 1,536 sq ft. of comfortable living space with modern upgrades throughout. Step inside to find a recently remodeled kitchen, new flooring, and upgraded light fixtures that add a fresh, modern touch. Both bathrooms have been tastefully renovated, creating a clean and contemporary feel. Enjoy year-round comfort with central A/C, abundant natural light, and a functional layout designed for everyday living. This move-in ready home combines comfort, style, and affordability perfect for anyone looking for a well-maintained home in a welcoming community

Key facts

• Renovated bathrooms
• Remodeled kitchen
• New flooring

Tags

• UPDATED MANUFACTURED HOME
• REMODELED KITCHEN
• NEW FLOORING
• UPGRADED LIGHT FIXTURES
• RENOVATED BATHROOMS
• CENTRAL A/C

Property features AI

Finance

• Other: Address: 4837 Faith Home Rd #162, Ceres, CA 95307; Directions: Turn left onto E Hatch Rd, turn right onto Faith Home Rd
• Financial info: Land lease: No
• HOA & community: No association; Not a senior community

Exterior

• Parking: Assigned covered parking
• Utilities: Public water; Sewer: other; 220V in kitchen; Cable available; Natural gas connected
• Home design: Manufactured in-park double wide; Built in 1974
• Construction: Aluminum skirting; Manufactured home (BALBOA)
• Exterior features: Regular-shaped lot; Other roof

Interior

• Kitchen: Stone counters
• Bedrooms: 2 bedrooms
• Flooring: Laminate
• Bathrooms: 2 full bathrooms; Tub with shower over
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Laminate flooring; Great room; Stone kitchen counters; Kitchen/family combo and dining/family combo
• Laundry & utility: Washer/dryer hookups

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $118k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $842 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $118k).
• Recommended offer: $116k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.9% vs local median 4.0% in Keyes — 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 46/100 on livability (#1,280 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A; Watch: schools D, employment D, crime F.
• Ceres Unified (suburban): math 15% / reading 50% proficiency, ranked #303 of 517 in CA (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 87 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 923 units permitted in Stanislaus County in 2024 (63 in 5+ unit buildings).
• This rent runs 31% of the median local income ($81k/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 $816 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Stanislaus County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($116k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $116,230 (1.5% below list)

Questions for the listing agent

1. Built in 1974 — 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. 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?
5. 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.
6. 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.
7. 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: 1.78% ✓
• Cap rate: 14.86%
• Cash-on-cash: 30.59%
• DSCR: 2.36
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $115,200
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4812 Esmar Rd #49	0.26mi	2/2.0	1,536 (0%)	5mo	$115,000	$75	84
4837 Faith Home Rd #26	0.07mi	3/2.0 (+1)	1,440 (-6%)	2mo	$160,000	$111	80
4837 Faith Home Rd #3	0.05mi	3/2.0 (+1)	1,440 (-6%)	10mo	$100,000	$69	74
4837 Faith Home Rd #4	0.07mi	3/2.0 (+1)	1,368 (-11%)	2mo	$94,999	$69	72
4837 Faith Home Rd #30	0.07mi	2/2.0	1,440 (-6%)	21mo	$117,500	$82	68
4837 Faith Home Rd #166	0.07mi	2/2.0	1,344 (-12%)	10mo	$135,000	$100	68
4812 Esmar Rd #2	0.25mi	2/2.0	1,344 (-12%)	8mo	$80,000	$60	61

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: 25.3%
• Equity multiple: 2.05×
• Total profit: $34,548
• Equity at exit: $17,594

10-year hold

• IRR: 33.0%
• Equity multiple: 4.00×
• Total profit: $99,280
• Equity at exit: $10,202

Cash invested: $33,040 (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 95307

• Active inventory: 87
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $2,098 medium
• Mortgage (P&I): −$619
• Tax est. 1.5%: −$148 /mo · $1,770/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $842

Break-even live

Break-even rent $1,032

Max offer price $118,000

Occupancy floor 55%

Sensitivity live

Price	-10% $924	-5% $883	+0% $842	+5% $801	+10% $761
Rent	-10% $676	-5% $759	+0% $842	+5% $925	+10% $1,008
Rate	-1.0pp $902	-0.5pp $872	base $842	+0.5pp $812	+1.0pp $780

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: $29,500
• Closing costs: $3,540
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3824 Hollywood Dr Ceres, CA	3.0	2.0	1100	$2,220	$2.02	44d	1	0.17mi
5232 Clark St Keyes, CA	3.0	2.0	1133	$2,200	$1.94	14d	1	0.75mi

Listing history 17 events

1. 2026-06-18
   days on market $118,000 Active 23 DOM
2. 2026-06-17
   price $118,000 Active 22 DOM
3. 2026-06-17
   days on market $124,000 Active 22 DOM
4. 2026-06-16
   days on market $124,000 Active 21 DOM
5. 2026-06-15
   days on market $124,000 Active 20 DOM
6. 2026-06-14
   days on market $124,000 Active 18 DOM
7. 2026-06-13
   days on market $124,000 Active 17 DOM
8. 2026-06-10
   days on market $124,000 Active 15 DOM
9. 2026-06-09
   days on market $124,000 Active 14 DOM
10. 2026-06-08
    days on market $124,000 Active 13 DOM
11. 2026-06-07
    days on market $124,000 Active 12 DOM
12. 2026-06-05
    days on market $124,000 Active 9 DOM
13. 2026-06-03
    days on market $124,000 Active 8 DOM
14. 2026-06-02
    days on market $124,000 Active 7 DOM
15. 2026-06-01
    days on market $124,000 Active 6 DOM
16. 2026-05-31
    days on market $124,000 Active 5 DOM
17. 2026-05-30
    days on market $124,000 Active 4 DOM

ⓘ 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 7/10 Severe 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 34 unhealthy d/yr today · 37 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,179
• − Mortgage interest: −$6,610
• − Property taxes: −$1,770
• − Insurance: −$590
• − Repairs & maintenance: −$2,014
• − Management: −$2,014
• − Depreciation: −$3,433
• Taxable income: $8,748
• Est. tax owed @ 24.0%: −$2,100
• After-tax cash flow: $8,006/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This beautifully updated manufactured home in Ceres, CA, offers modern upgrades and is move-in ready, perfect for anyone looking for a well-maintained home in a welcoming community.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Replace ceiling fans with energy-efficient models — Saves on energy costs and improves comfort
• Both Install smart home devices — Enhances convenience and adds modern appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Replace ceiling fans with energy-efficient models — Saves on energy costs and improves comfort ↑
• Both Install smart home devices — Enhances convenience and adds modern appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Ceres Unified
• NCES district ID: 0608130
• Math proficiency: 15% ▼ -9.00%
• Reading proficiency: 50% ▲ 12.00%
• Median HH income: $48,178
• Composite: 27.96/100
• National rank: #6858
• State rank: #303 of 517 in CA

Livability — Keyes

• Score: 46/100
• State rank: #1280
• US rank: #26476

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Keyes, CA
• County: Stanislaus County · 445,786 people
• City population: 3,939
• Metro: Modesto, CA
• Population (ZIP): 46,310
• Household income: $80,627
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 1102.0

Population outlook (Stanislaus County) Hauer SSP2

• Today (2025): 579,493 people
• By 2030: 598,000 · +3.2%
• By 2040: 630,930 · +8.9%
• By 2050: 658,300 · +13.6%
• By 2075: 712,363 · +22.9%
• By 2100: 719,805 · +24.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (64%)
• Race & ethnicity: Hispanic / Latino 64% Two or more races 34% White 23% Asian 8% Black 1%
• Hispanic origin (detail): Mexican 61%
• Common ancestry: Russian 3% Lithuanian 1% Italian 1%
• Foreign-born: 27% · Canada, China
• Languages at home: 41% English-only · Spanish 49% Other Indo-European 7% Arabic 1%

Political lean MEDSL · Stanislaus

• 2024 margin: R (+11.0) · D 43.2% · R 54.2% · Other 2.6%
• 2008→2024 swing: -12.7pp toward R · 2008: 1.7pp · 2024: -11.0pp
• All cycles: 2024: R+11.0 2020: D+0.8 2016: D+0.6 2012: D+0.7 2008: D+1.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -362.75%
• Current HPI: 307.5192
• Rent YoY: —
• Metro: Modesto, 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