192 Kona Cir · Pittsburg, CA 94565

$150,000

3 bd · 2.0 ba · 1,536 sqft · Manufactured · 136 Days on market

Built 1976 $98/sqft · 73% above area

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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 +7.5/15.0
• Livability +2.9/5.0
• Rent growth +2.8/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A wonderful opportunity to own in the Delta Hawaii senior community. This manufactured home has been well cared for and reflects true pride of ownership. This 3 bedroom 2 bathroom home presents an opportunity for customization while remaining functional and livable in its current as is condition. Located in a quiet, established senior park with community amenities, club house along with a swimming pool. Close proximity to shopping, dining, and major commuter routes. A great option for those seeking affordability, comfort, and long term potential. Home features a laundry room, large family room, dining room, porch area, and a shed in the carport area. Close to lots of amenities, come and see!

Key facts

• Large family room
• Community amenities
• Laundry room

Tags

• COMMUNITY AMENITIES
• CLUB HOUSE
• SWIMMING POOL
• LAUNDRY ROOM
• LARGE FAMILY ROOM
• DINING ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $150k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.8% vs local median 3.4% in Pittsburg — 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 58/100 on livability (#687 in CA) — a working-class tenant base; expect higher turnover. Strengths: employment A+, housing A+; Watch: schools F, crime D-, amenities F.
• Pittsburg Unified (suburban): math 21% / reading 35% proficiency, ranked #1,069 of 1,400 in CA (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+1.1%/yr); 265 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 2,169 units permitted in Contra Costa County in 2024 (896 in 5+ unit buildings).
• This rent runs 39% of the median local income ($96k/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 $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Contra Costa County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.1% rent growth), your $42k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 136 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $132,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 136 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 1976 — 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 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?
6. 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?
7. 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.
8. 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.
9. 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: 2.08% ✓
• Cap rate: 17.75%
• Cash-on-cash: 40.92%
• DSCR: 2.82
• GRM: 4.0

CMA / ARV

• ARV (median comp): $86,700
• List price: $150,000
• Delta: 73.01%
• Verdict: OVERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
77 Hilo Dr	0.19mi	3/2.0	1,566 (+2%)	2mo	$270,000	$172	86
210 Kona Crk	0.05mi	3/2.0	1,440 (-6%)	1mo	$70,000	$49	86
237 Aloha Way	0.08mi	2/2.0 (-1)	1,464 (-5%)	4mo	$175,000	$120	80
141 Maui Dr	0.08mi	2/2.0 (-1)	1,440 (-6%)	2mo	$84,000	$58	80
215 Maui Dr #215	0.10mi	2/2.0 (-1)	1,440 (-6%)	4mo	$85,500	$59	76
232 Queens Way	0.06mi	2/2.0 (-1)	1,400 (-9%)	4mo	$87,500	$63	74
16 Surf Dr	0.27mi	2/2.0 (-1)	1,440 (-6%)	0mo	$54,900	$38	72
224 Queens Way #224	0.11mi	2/2.0 (-1)	1,344 (-12%)	2mo	$85,900	$64	68
61 Pali Way	0.23mi	2/2.0 (-1)	1,400 (-9%)	3mo	$50,000	$36	67
134 Banyon Dr	0.10mi	2/2.0 (-1)	1,344 (-12%)	3mo	$133,000	$99	67
169 Sunset Way	0.05mi	2/2.0 (-1)	1,320 (-14%)	9mo	$249,500	$189	62
223 Queens Way	0.12mi	3/2.0	1,740 (+13%)	12mo	$149,500	$86	62

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 · 1.11% rent growth · sell at horizon

5-year hold

• IRR: 35.3%
• Equity multiple: 2.46×
• Total profit: $61,130
• Equity at exit: $22,365

10-year hold

• IRR: 41.1%
• Equity multiple: 4.52×
• Total profit: $147,841
• Equity at exit: $12,969

Cash invested: $42,000 (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 94565

• Rents YoY: 1.1%
• Active inventory: 265
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $3,125 high
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$656
• Net cashflow: $1,432

Break-even live

Break-even rent $1,312

Max offer price $150,000

Occupancy floor 49%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4 Meadowbrook Ave Pittsburg, CA	2.0	2.0	1122	$2,600	$2.32	43d	1	0.19mi
948 Golden Leaf Way Pittsburg, CA	3.0	2.0	1386	$3,400	$2.45	43d	1	0.31mi
2221 Lynbrook Dr Pittsburg, CA	3.0	2.0	1365	$3,195	$2.34	43d	1	0.36mi
1 Addison Ct Pittsburg, CA	4.0	2.5	1805	$3,295	$1.83	24d	1	0.46mi
3809 Lassen Dr Pittsburg, CA	3.0	1.5	1650	$2,995	$1.82	3d	1	0.50mi
4225 McFaul Dr Pittsburg, CA	4.0	2.0	1500	$4,100	$2.73	24d	1	0.70mi
17 Lorraine Ave Pittsburg, CA	3.0	1.5	1180	$2,700	$2.29	18d	1	0.74mi
240 Benjamin Ave Pittsburg, CA	3.0	2.0	1379	$3,139	$2.28	2d	1	0.75mi
4317 Campbell Dr Pittsburg, CA	4.0	3.0	1965	$3,400	$1.73	43d	1	0.84mi
60 Xena Ct Pittsburg, CA	3.0	2.5	1805	$3,200	$1.77	43d	1	0.84mi
1000 Pheasant Dr Pittsburg, CA	1.0–2.0	1.0–2.5	879	$2,795	$3.18	24d	29	1.10mi
1353 Pine St Pittsburg, CA	3.0	2.0	1369	$2,750	$2.01	5d	1	1.12mi
1341 Maple St Pittsburg, CA	2.0	1.0	1299	$2,550	$1.96	21d	1	1.13mi
1346 Redwood St Pittsburg, CA	3.0	1.5	1066	$2,915	$2.73	16d	1	1.15mi
99 Liberty Ct Pittsburg, CA	3.0	2.5	1802	$3,600	$2.00	43d	1	1.22mi
34 Kingswood Dr Pittsburg, CA	4.0	2.0	1755	$3,900	$2.22	43d	1	1.30mi

Listing history 11 events

1. 2026-06-13
   days on market $150,000 Active 136 DOM
2. 2026-06-13
   days on market $150,000 Active 135 DOM
3. 2026-06-09
   days on market $150,000 Active 132 DOM
4. 2026-06-08
   days on market $150,000 Active 131 DOM
5. 2026-06-07
   days on market $150,000 Active 130 DOM
6. 2026-06-04
   days on market $150,000 Active 127 DOM
7. 2026-06-03
   days on market $150,000 Active 126 DOM
8. 2026-06-02
   days on market $150,000 Active 125 DOM
9. 2026-06-01
   days on market $150,000 Active 124 DOM
10. 2026-05-31
    days on market $150,000 Active 123 DOM
11. 2026-01-28
    listed $150,000 Active 700-char remark

    Show marketing remark (700 chars)

    A wonderful opportunity to own in the Delta Hawaii senior community. This manufactured home has been well cared for and reflects true pride of ownership. This 3 bedroom 2 bathroom home presents an opportunity for customization while remaining functional and livable in its current as is condition. Located in a quiet, established senior park with community amenities, club house along with a swimming pool. Close proximity to shopping, dining, and major commuter routes. A great option for those seeking affordability, comfort, and long term potential. Home features a laundry room, large family room, dining room, porch area, and a shed in the carport area. Close to lots of amenities, come and see!

ⓘ 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 5/10 Major 7 d/yr ≥99°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 14 unhealthy d/yr today · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,502
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$3,000
• − Management: −$3,000
• − Depreciation: −$4,364
• Taxable income: $15,736
• Est. tax owed @ 24.0%: −$3,777
• After-tax cash flow: $13,411/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: Pittsburg Unified
• NCES district ID: 0630600
• Math proficiency: 21% ▲ 1.00%
• Reading proficiency: 35% ▲ 1.00%
• Median HH income: $55,872
• Composite: 27.99/100
• National rank: #12238
• State rank: #1069 of 1400 in CA

Livability — Pittsburg

• Score: 58/100
• State rank: #687
• US rank: #20922

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pittsburg, CA
• County: Contra Costa County · 1,059,880 people
• City population: 100,488
• Metro: San Francisco-Oakland-Berkeley, CA
• Population (ZIP): 100,488
• Household income: $95,556
• Rent vs Own: 39.1% rent · 60.9% own
• Severe rent burden: 3942.0

Population outlook (Contra Costa County) Hauer SSP2

• Today (2025): 1,287,720 people
• By 2030: 1,364,937 · +6.0%
• By 2040: 1,506,209 · +17.0%
• By 2050: 1,624,373 · +26.1%
• By 2075: 1,853,193 · +43.9%
• By 2100: 1,901,231 · +47.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.70)
• Race & ethnicity: Hispanic / Latino 48% Two or more races 19% Asian 17% White 16% Black 13% Pacific Islander 1% Native American 1%
• Hispanic origin (detail): Mexican 38% Puerto Rican 1%
• Common ancestry: Italian 1% Russian 1% Lithuanian 1%
• Foreign-born: 34% · Canada, China, Vietnam
• Languages at home: 47% English-only · Spanish 37% Tagalog/Filipino 6% Other Indo-European 4%

Political lean MEDSL · Contra Costa

• 2024 margin: Solid D (+38.0) · D 67.3% · R 29.4% · Other 3.3%
• 2008→2024 swing: +0.2pp no change · 2008: 37.8pp · 2024: 38.0pp
• All cycles: 2024: D+38.0 2020: D+45.3 2016: D+43.5 2012: D+33.7 2008: D+37.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -478.40%
• Current HPI: 376.2576
• Rent YoY: ▲ 1.11%
• 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

1 event — show timeline

• 2026-01-28 Listed $150,000 BAREIS