1400 W Marlette St #21 · Ione, CA 95640

$190,000

3 bd · 2.0 ba · 2,400 sqft · Manufactured public records · 62 Days on market

Built 2003 11 ac lot $79/sqft · 25% below area Est $172k · 11% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• Livability +3.1/5.0
• ARV discount +2.7/15.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Castle Village Mobile Home Park!! 3 bedroom, 2 bath with large bedrooms and walk in closets. Beautiful vaulted ceiling, warm inviting open concept living room, kitchen and dining room. And solar! Perfect for entertaining! This park has so much to offer. The clubhouse is available for your events but they also put on Bingo, Bunco, Card/game nights, music, sewing, chair exercise, the list goes on! You also get use of the pool and basketball court. Outside the community it's close to shopping, fishing, food, Casinos.

Key facts

• Clubhouse
• Vaulted ceiling
• Basketball court

Tags

• WALK IN CLOSETS
• VAULTED CEILING
• OPEN CONCEPT LIVING ROOM
• CLUBHOUSE
• POOL
• BASKETBALL COURT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $190k.

Deal economics

• At list price, monthly cash flow is $928 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• Recommended offer: $179k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.2% vs local median 3.3% in Ione — 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 62/100 on livability (#490 in CA) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A-, crime B+; Watch: schools F, amenities F, commute F.
• Amador County Unified (town): math 23% / reading 37% proficiency, ranked #330 of 517 in CA (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 120 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 66 units permitted in Amador County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Amador County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($179k) is reasonable based on typical stale-listing flexibility.

Recommended offer $178,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.38% ✓
• Cap rate: 12.16%
• Cash-on-cash: 20.94%
• DSCR: 1.93
• GRM: 6.0

CMA / ARV

• ARV (median comp): $171,631
• List price: $190,000
• Delta: 10.70%
• Verdict: OVERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1400 W Marlette St #1	0.00mi	3/2.0	2,400 (0%)	5mo	$217,000	$90	96
1400 W Marlette St #10	0.00mi	3/2.0	2,080 (-13%)	12mo	$225,000	$108	68

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: 13.3%
• Equity multiple: 1.53×
• Total profit: $28,273
• Equity at exit: $28,330

10-year hold

• IRR: 22.2%
• Equity multiple: 2.89×
• Total profit: $100,483
• Equity at exit: $16,428

Cash invested: $53,200 (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 95640

• Active inventory: 120
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $2,617 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$64 /mo · $764/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$550
• Net cashflow: $928

Break-even live

Break-even rent $1,442

Max offer price $190,000

Occupancy floor 60%

Sensitivity live

Price	-10% $1,036	-5% $982	+0% $928	+5% $875	+10% $821
Rent	-10% $722	-5% $825	+0% $928	+5% $1,032	+10% $1,135
Rate	-1.0pp $1,024	-0.5pp $977	base $928	+0.5pp $879	+1.0pp $829

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
303 Pelican Hill Ct Ione, CA	4.0	2.0	1877	$2,600	$1.39	45d	1	0.40mi
107 Ashworth Dr Ione, CA	3.0	2.0	1671	$2,495	$1.49	4d	1	0.46mi
664 Morning Glory Cir Ione, CA	4.0	2.5	2018	$2,975	$1.47	4d	1	1.38mi

Listing history 15 events

1. 2026-06-21
   days on market $190,000 Active 62 DOM
2. 2026-06-18
   days on market $190,000 Active 59 DOM
3. 2026-06-17
   days on market $190,000 Active 58 DOM
4. 2026-06-16
   days on market $190,000 Active 57 DOM
5. 2026-06-15
   days on market $190,000 Active 56 DOM
6. 2026-06-13
   days on market $190,000 Active 54 DOM
7. 2026-06-13
   pricedays on market $190,000 Active 53 DOM
8. 2026-06-09
   days on market $195,000 Active 50 DOM
9. 2026-06-08
   days on market $195,000 Active 49 DOM
10. 2026-06-07
    days on market $195,000 Active 48 DOM
11. 2026-06-05
    days on market $195,000 Active 45 DOM
12. 2026-06-03
    days on market $195,000 Active 44 DOM
13. 2026-06-02
    days on market $195,000 Active 43 DOM
14. 2026-06-01
    days on market $195,000 Active 42 DOM
15. 2026-05-31
    days on market $195,000 Active 41 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: $764 · $64/mo
• Projected year-2 tax: $1,444 · $120/mo
• Expected delta: +$680/yr (+$57/mo · 88.9%)

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

Taxation est. · year 1

• Rental income: $31,407
• − Mortgage interest: −$10,643
• − Property taxes: −$764
• − Insurance: −$950
• − Repairs & maintenance: −$2,513
• − Management: −$2,513
• − Depreciation: −$5,527
• Taxable income: $8,497
• Est. tax owed @ 24.0%: −$2,039
• After-tax cash flow: $9,101/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: Amador County Unified
• NCES district ID: 0602450
• Math proficiency: 23% ▼ -9.00%
• Reading proficiency: 37% ▼ -10.00%
• Median HH income: $55,428
• Composite: 26.67/100
• National rank: #7163
• State rank: #330 of 517 in CA

Livability — Ione

• Score: 62/100
• State rank: #490
• US rank: #16616

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ione, CA
• City population: 12,811
• Population (ZIP): 12,811

Population outlook (Amador County) Hauer SSP2

• Today (2025): 35,295 people
• By 2030: 34,147 · -3.3%
• By 2040: 31,618 · -10.4%
• By 2050: 29,913 · -15.2%
• By 2075: 27,308 · -22.6%
• By 2100: 23,465 · -33.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 21% Two or more races 17% Black 4% Native American 2%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Italian 3% Slovak 3% Romanian 2%
• Foreign-born: 7% · Canada
• Languages at home: 85% English-only · Spanish 11% Arabic 2%

Political lean MEDSL · Amador

• 2024 margin: Strong R (+27.8) · D 34.7% · R 62.6% · Other 2.7%
• 2008→2024 swing: -13.2pp toward R · 2008: -14.6pp · 2024: -27.8pp
• All cycles: 2024: R+27.8 2020: R+24.4 2016: R+25.2 2012: R+19.0 2008: R+14.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -144.63%
• Current HPI: 169.9705
• Rent YoY: —
• Metro: —
• 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

Property tax history

-1.0%/yr

Latest (2025): $764 · +15.7% YoY. Source: county tax records.