2 bd · 2.0 ba ·
1,324 sqft ·
Built 2001
· Manufactured
· Active
· 453 DOM
Cashflow @ list (25.0% down · 7.5%)
Estimated rent
$1,917/mo
Mortgage (P&I)
−$941
Tax + insurance
−$299
HOA
−$0
Vac / Maint / Mgmt
−$403
Net cashflow
$274/mo
Annual
$3,288/yr
Cap rate
8.12%
Cash-on-cash
6.54%
DSCR
1.29
1% rule
1.07%
Cash to close
$50,260
Investor read
This is a 2-bed/2.0-bath manufactured listed at $180k.
At list price, monthly cash flow is $274 ($3k/yr) — positive.
The deal already cash-flows at list — no discount required.
Meets the 1% rule at list price ($2k rent vs $180k).
It's been on market 453 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
Location reads 59/100 on livability (#662 in CA) — a working-class tenant base; expect higher turnover. Strengths: employment A+, housing A+; Watch: crime C-, schools D+, amenities F.
Nevada Joint Union High (town): math 25% / reading 61% proficiency, ranked #201 of 517 in CA (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
Market conditions: Rents flat; 197 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 215 units permitted in Nevada County in 2024 (0 in 5+ unit buildings).
Nevada County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
Cap rate 8.1% vs local median 3.4% in Alta Sierra — 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.
This rent runs 35% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.
Questions for listing agent
It's been on market 453 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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?
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.
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.
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.
CashFlowRE · CFR-7PRMADD7K441YB
· Data 1 day agocashflowre.app · 2026-05-29