2130 Redwood Hwy Unit F5 · Larkspur, CA 94904

$120,000

1 bd · 1.0 ba · 550 sqft · Manufactured · 357 Days on market

Built 1961 Est $86k · 40% over ↓ 4% since listing

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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
• Appreciation +7.7/10.0
• Schools +6.5/10.0
• Livability +4.3/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks

Excellent central Marin location and school district! Affordable and Rarely available. Updated spacious one-bedroom, one-bath home is move-in ready! All-age park, friendly community, owner-occupied park. Quiet, private, fenced, and spacious yard patio. Sunny & bright throughout. Beautifully remodeled kitchen with laminated floors throughout the entire home. The seller has converted the living room into a bedroom. Assigned, off-street parking. Conveniently to all amenities such as Larkspur Ferry, Village, Town Center with Farmer's Market, Smart train station, buses, hiking and biking trails including Cal Park tunnel, quick freeway access to everything! Current owner's space rent will

Key facts

• Quick freeway access
• Remodeled kitchen
• Private fenced yard

Tags

• CENTRAL MARIN LOCATION
• UPDATED SPACIOUS HOME
• PRIVATE FENCED YARD
• REMODELED KITCHEN
• ASSIGNED OFF-STREET PARKING
• QUICK FREEWAY ACCESS

Property features AI

Finance

• HOA & community: No HOA; Located in Marin RV park; Not a senior community

Exterior

• Parking: Assigned off-street parking (1 space)
• Security: Carbon monoxide detector
• Utilities: Public sewer; Land lease: $1,500/month
• Home design: Manufactured in park (single wide)
• Construction: Metal roof; Mayflower (Guerdon) manufactured home; Aluminum skirting
• Exterior features: Porch steps

Interior

• Kitchen: Wood counters; Dishwasher; Disposal; Free-standing gas range; Free-standing refrigerator; Range hood
• Bedrooms: 1 bedroom
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom with tile and tub/shower combo
• Heating & cooling: Gas heating; No cooling
• Interior features: Updated/remodeled condition; Carbon monoxide detector
• Laundry & utility: No laundry in unit

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $120k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 24.8% vs local median 1.4% in Larkspur — 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 86/100 on livability (#5 in CA, #381 nationally) — a professional / high-income tenant draw. Strengths: schools A+, amenities A+, commute A+; Watch: cost of living F.
• Tamalpais Union High (suburban): math 62% / reading 78% proficiency, ranked #42 of 517 in CA (top 8%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: Rents rising (+3.5%/yr); 49 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 149 units permitted in Marin County in 2024 (5 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($830 loan paydown + $7k appreciation (5.4% local appreciation)).
• Marin County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (5.4% appreciation + 3.5% rent growth), your $34k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 357 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 7y ago; this cycle's ask has dropped $9k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $105,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 357 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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.
7. 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.
8. 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: 2.82% ✓
• Cap rate: 24.75%
• Cash-on-cash: 65.92%
• DSCR: 3.93
• GRM: 3.0

CMA / ARV

• ARV (on-the-fly): $85,800
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2130 Redwood Hwy Unit D2	0.03mi	2/1.0 (+1)	576 (+5%)	8mo	$90,000	$156	79
2000 Redwood Hwy #71	0.27mi	1/1.0	480 (-13%)	10mo	$65,000	$135	57

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

5.43% appreciation · 3.52% rent growth · sell at horizon

5-year hold

• IRR: 73.4%
• Equity multiple: 5.47×
• Total profit: $150,029
• Equity at exit: $71,175

10-year hold

• IRR: 71.2%
• Equity multiple: 11.54×
• Total profit: $354,254
• Equity at exit: $125,546

Cash invested: $33,600 (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 94904

• Home prices YoY: 2.0%
• Rents YoY: 3.5%
• Active inventory: 49
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $3,386 medium
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,800/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$711
• Net cashflow: $1,846

Break-even live

Break-even rent $1,050

Max offer price $120,000

Occupancy floor 40%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
199 Tamal Vista Blvd Corte Madera, CA	1.0–3.0	1.0–2.0	1018	$4,245	$4.17	1d	24	0.34mi
505 Magnolia Ave Larkspur, CA	—	1.0	350	$2,150	$6.14	10d	1	1.15mi
30 Locust Ave Unit 6 Larkspur, CA	2.0	1.0	750	$2,700	$3.60	1d	1	1.21mi

Listing history 27 events

1. 2026-06-18
   days on market $120,000 Active 357 DOM
2. 2026-06-17
   days on market $120,000 Active 356 DOM
3. 2026-06-16
   days on market $120,000 Active 355 DOM
4. 2026-06-15
   days on market $120,000 Active 354 DOM
5. 2026-06-13
   days on market $120,000 Active 352 DOM
6. 2026-06-13
   days on market $120,000 Active 351 DOM
7. 2026-06-09
   days on market $120,000 Active 348 DOM
8. 2026-06-08
   days on market $120,000 Active 347 DOM
9. 2026-06-07
   days on market $120,000 Active 346 DOM
10. 2026-06-04
    days on market $120,000 Active 343 DOM
11. 2026-06-03
    days on market $120,000 Active 342 DOM
12. 2026-06-02
    days on market $120,000 Active 341 DOM
13. 2026-06-01
    days on market $120,000 Active 340 DOM
14. 2026-05-31
    days on market $120,000 Active 339 DOM
15. 2026-04-23
    status Active
16. 2026-04-23
    price $120,000
17. 2025-06-24
    listed $129,000 Active
18. 2024-06-08
    price $139,500
19. 2024-02-26
    listed $149,500 Active
20. 2022-02-26
    listed $159,500 Active
21. 2019-09-06
    soldstatus $113,500 Sold
22. 2019-09-01
    status Pending
23. 2019-08-20
    historical Contingent
24. 2019-08-13
    status Active
25. 2019-08-13
    price $117,500
26. 2019-08-07
    historical Off-Market
27. 2019-05-08
    listed $125,000 Active

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

Taxation est. · year 1

• Rental income: $40,633
• − Mortgage interest: −$6,722
• − Property taxes: −$1,800
• − Insurance: −$600
• − Repairs & maintenance: −$3,251
• − Management: −$3,251
• − Depreciation: −$3,491
• Taxable income: $21,519
• Est. tax owed @ 24.0%: −$5,165
• After-tax cash flow: $16,984/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: Tamalpais Union High
• NCES district ID: 0638790
• Math proficiency: 62% ▲ 4.00%
• Reading proficiency: 78% ▲ 6.00%
• Median HH income: $106,037
• Composite: 64.66/100
• National rank: #527
• State rank: #42 of 517 in CA

Livability — Larkspur

• Score: 86/100
• State rank: #5
• US rank: #381

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Larkspur, CA
• County: Marin County · 243,328 people
• City population: 7,315
• Metro: San Francisco-Oakland-Berkeley, CA
• Population (ZIP): 12,815
• Household income: $169,118
• Rent vs Own: 37.2% rent · 62.8% own
• Severe rent burden: 713.0

Population outlook (Marin County) Hauer SSP2

• Today (2025): 276,379 people
• By 2030: 282,942 · +2.4%
• By 2040: 292,937 · +6.0%
• By 2050: 300,449 · +8.7%
• By 2075: 316,946 · +14.7%
• By 2100: 303,948 · +10.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 13% Two or more races 8% Asian 7%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 4% Romanian 3% Lithuanian 3%
• Foreign-born: 17% · Canada, South Korea, China
• Languages at home: 78% English-only · Spanish 10% Other Indo-European 4% German/W. Germanic 2%

Political lean MEDSL · Marin

• 2024 margin: Solid D (+63.9) · D 80.6% · R 16.7% · Other 2.7%
• 2008→2024 swing: +6.2pp toward D · 2008: 57.7pp · 2024: 63.9pp
• All cycles: 2024: D+63.9 2020: D+66.5 2016: D+62.9 2012: D+50.5 2008: D+57.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.43%
• Current HPI: 282.1489
• Rent YoY: ▲ 3.52%
• Metro: San Francisco-Oakland-Berkeley, 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

-4.0% since first listed

13 events — show timeline

• 2026-04-23 Relisted — BAREIS
• 2026-04-23 Price Changed $120,000 BAREIS
• 2025-06-24 Listed $129,000 BAREIS
• 2024-06-08 Price Changed $139,500 BAREIS
• 2024-02-26 Listed $149,500 BAREIS
• 2022-02-26 Listed $159,500 BAREIS
• 2019-09-06 Sold (MLS) $113,500 BAREIS
• 2019-09-01 Pending — BAREIS
• 2019-08-20 Contingent — BAREIS
• 2019-08-13 Relisted — BAREIS
• 2019-08-13 Price Changed $117,500 BAREIS
• 2019-08-07 Delisted — BAREIS
• 2019-05-08 Listed $125,000 BAREIS