13 Duval St

Citrus Heights, CA 95621

$45,000C-

2 bd · 2.0 ba · 1,040 sqft · Built 1966 · Manufactured · Active · 146 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,938/mo
• Mortgage (P&I): −$236
• Tax + insurance: −$75
• HOA: −$0
• Vac / Maint / Mgmt: −$407
• Net cashflow: $1,220/mo
• Annual: $14,642/yr
• Cap rate: 38.83%
• Cash-on-cash: 116.21%
• DSCR: 6.17
• 1% rule: 4.31%
• Cash to close: $12,600

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $45k. Condition is rated fair.
• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $45k).
• It's been on market 146 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 60/100 on livability (#614 in CA) — a middle-class / working-renter tenant base. Strengths: housing A+; Watch: crime D-, amenities F, commute F.
• San Juan Unified (suburban): math 40% / reading 62% proficiency, ranked #138 of 517 in CA (top 27%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Orangevale Open K-8 (572 students, 22% FRL); Sylvan Middle (647 students, 71% FRL); El Camino Fundamental High (math 34% / reading 62%, grade D, #378 of 1,170 statewide, top 32%, 1,246 students, 50% FRL) — zoned schools at 48% FRL track the district average.
• Market conditions: Rents rising (+1.9%/yr); 219 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 6,825 units permitted in Sacramento County in 2024 (1,752 in 5+ unit buildings).
• Sacramento County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.9% rent growth), your $13k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 38.8% vs local median 3.4% in Citrus Heights — 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.

Questions for listing agent

• It's been on market 146 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• Crime grade is D 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?
• 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.

Repairs flagged (vision-AI assessment)

• Minor: kitchen backsplash — wooden countertop
• Minor: bathroom vanity — wooden countertop