2399 E 14th St #93 · San Leandro, CA 94577

$64,000

1 bd · 1.0 ba · 427 sqft · Manufactured · 77 Days on market

Fair condition $150/sqft · at area comps Est $62k · at est.

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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 +6.4/15.0
• Schools +3.4/10.0
• Livability +3.4/5.0
• Rent growth +2.9/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Affordable Bay Area Living. Only 7 years old. New SPC flooring, new light fixtures, new interior paint, new washer/dryer, stove and refrigerator. Close to shops, restaurants and Bayfair Shopping Center. Great for first time buyer to become a homeowner. NO AGE RESTRICTION PARK. 2 parking spaces. In Unit Washer/Dryer. Updated Bathroom.

Key facts

• 2 garage spots
• Listed 76 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $64k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $64k).
• Recommended offer: $60k (6.0% below list) — sets the bar for market timing.
• Cap rate 25.9% vs local median 2.0% in San Leandro — 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 68/100 on livability (#289 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, health & safety A+; Watch: amenities C-, schools D, crime F.
• San Leandro Unified (urban): math 28% / reading 42% proficiency, ranked #831 of 1,400 in CA (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.7%/yr); 107 active listings in the ZIP; solid renter incomes; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $442 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Alameda County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.7% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($60k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $40k; list at $64k implies a 60% gain — meaningful room to come down on a strong offer.

Recommended offer $60,160 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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 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?
6. Crime grade is F 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: 2.87% ✓
• Cap rate: 25.89%
• Cash-on-cash: 69.99%
• DSCR: 4.11
• GRM: 2.9

CMA / ARV

• ARV (median comp): $62,500
• List price: $64,000
• Delta: 2.40%
• Verdict: FAIR
• Comps: 5 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2399 E 14th St #105	0.02mi	1/1.0	420 (-2%)	1mo	$46,000	$110	95
2399 E 14th St #66	0.09mi	1/1.0	480 (+12%)	3mo	$46,000	$96	73
2399 E 14th St #56	0.09mi	1/1.0	480 (+12%)	23mo	$33,000	$69	56
2399 E 14th St #71	0.14mi	1/1.0	480 (+12%)	21mo	$55,000	$115	55

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 · 1.74% rent growth · sell at horizon

5-year hold

• IRR: 68.1%
• Equity multiple: 4.01×
• Total profit: $53,904
• Equity at exit: $9,543

10-year hold

• IRR: 71.9%
• Equity multiple: 7.89×
• Total profit: $123,483
• Equity at exit: $5,534

Cash invested: $17,920 (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 94577

• Rents YoY: 1.7%
• Active inventory: 107
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,835 medium
• Mortgage (P&I): −$336
• Tax from tax record: −$42 /mo · $504/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $1,045

Break-even live

Break-even rent $512

Max offer price $64,000

Occupancy floor 38%

Sensitivity live

Price	-10% $1,081	-5% $1,063	+0% $1,045	+5% $1,027	+10% $1,009
Rent	-10% $900	-5% $973	+0% $1,045	+5% $1,118	+10% $1,190
Rate	-1.0pp $1,077	-0.5pp $1,061	base $1,045	+0.5pp $1,029	+1.0pp $1,012

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: $16,000
• Closing costs: $1,920
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $64,000 Active 77 DOM
2. 2026-06-18
   days on market $64,000 Active 74 DOM
3. 2026-06-17
   days on market $64,000 Active 73 DOM
4. 2026-06-16
   days on market $64,000 Active 72 DOM
5. 2026-06-15
   days on market $64,000 Active 71 DOM
6. 2026-06-13
   days on market $64,000 Active 69 DOM
7. 2026-06-09
   days on market $64,000 Active 65 DOM
8. 2026-06-08
   days on market $64,000 Active 64 DOM
9. 2026-06-07
   days on market $64,000 Active 63 DOM
10. 2026-06-04
    days on market $64,000 Active 60 DOM
11. 2026-06-03
    days on market $64,000 Active 59 DOM
12. 2026-06-02
    days on market $64,000 Active 58 DOM
13. 2026-06-01
    days on market $64,000 Active 57 DOM
14. 2026-05-31
    days on market $64,000 Active 56 DOM
15. 2026-04-05
    listed $64,000 Active 336-char remark

    Show marketing remark (336 chars)

    Affordable Bay Area Living. Only 7 years old. New SPC flooring, new light fixtures, new interior paint, new washer/dryer, stove and refrigerator. Close to shops, restaurants and Bayfair Shopping Center. Great for first time buyer to become a homeowner. NO AGE RESTRICTION PARK. 2 parking spaces. In Unit Washer/Dryer. Updated Bathroom.

16. 2025-05-01
    soldstatus $40,000 Closed 456-char remark

    Show marketing remark (456 chars)

    PRICED TO SELL! Affordable Bay Area living. Close to shops, restaurants, just minutes to Bayfair Shopping Center and weekly fresh farmer's market. Ideal for first time home buyers to get their foot in the door. EZ low maintenance living for the workaholic. Mobile home needs some work. Lots of potential in this 2019 model, 1br, l 1ba with shower. Recessed lighting, washer/dryer hook ups. Buyer receives $500 award at COE towards purchase of appliances.

17. 2025-03-05
    status Pending 456-char remark

    Show marketing remark (456 chars)

    PRICED TO SELL! Affordable Bay Area living. Close to shops, restaurants, just minutes to Bayfair Shopping Center and weekly fresh farmer's market. Ideal for first time home buyers to get their foot in the door. EZ low maintenance living for the workaholic. Mobile home needs some work. Lots of potential in this 2019 model, 1br, l 1ba with shower. Recessed lighting, washer/dryer hook ups. Buyer receives $500 award at COE towards purchase of appliances.

18. 2025-03-01
    listed $49,000 Active 456-char remark

    Show marketing remark (456 chars)

    PRICED TO SELL! Affordable Bay Area living. Close to shops, restaurants, just minutes to Bayfair Shopping Center and weekly fresh farmer's market. Ideal for first time home buyers to get their foot in the door. EZ low maintenance living for the workaholic. Mobile home needs some work. Lots of potential in this 2019 model, 1br, l 1ba with shower. Recessed lighting, washer/dryer hook ups. Buyer receives $500 award at COE towards purchase of appliances.

19. 2023-12-03
    historical
20. 2023-11-04
    listed Active

ⓘ 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: $504 · $42/mo
• Projected year-2 tax: $504 · $42/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥84°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 12 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,018
• − Mortgage interest: −$3,585
• − Property taxes: −$504
• − Insurance: −$320
• − Repairs & maintenance: −$1,761
• − Management: −$1,761
• − Depreciation: −$1,862
• Taxable income: $12,224
• Est. tax owed @ 24.0%: −$2,934
• After-tax cash flow: $9,608/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.

Condition & rehab AI · 13 photos

Fair 45/100 Moderate rehab

The home requires moderate repairs to the exterior siding and fencing, but is otherwise in good condition. A fresh coat of paint and repairs to the exterior would significantly improve its curb appeal and resale value.

Repairs flagged

• Major exterior siding — The exterior siding is visibly weathered and in poor condition.
• Major fencing — The fencing is in poor condition with visible damage and missing sections.

Value-add opportunities

• Resale repair and paint exterior — A fresh coat of paint and repairs to the exterior siding would significantly improve the home's curb appeal and resale value.
• Resale repair and replace fencing — A new, well-maintained fence would enhance the home's safety and security, and improve its overall appearance.

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · The exterior siding is visibly weathered and in poor condition.	Major	$15,000–50,000
fencing · The fencing is in poor condition with visible damage and missing sections.	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Resale repair and paint exterior — A fresh coat of paint and repairs to the exterior siding would significantly improve the home's curb appeal and resale value. ↑
• Resale repair and replace fencing — A new, well-maintained fence would enhance the home's safety and security, and improve its overall appearance. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: San Leandro Unified
• NCES district ID: 0634680
• Math proficiency: 28% ▲ 3.00%
• Reading proficiency: 42% ▲ 5.00%
• Median HH income: $63,377
• Composite: 34.23/100
• National rank: #10252
• State rank: #831 of 1400 in CA

Livability — San Leandro

• Score: 68/100
• State rank: #289
• US rank: #9768

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: San Leandro, CA
• County: Alameda County · 1,614,355 people
• City population: 88,086
• Metro: San Francisco-Oakland-Berkeley, CA
• Population (ZIP): 46,317
• Household income: $108,772
• Rent vs Own: 44.5% rent · 55.5% own
• Severe rent burden: 2005.0

Population outlook (Alameda County) Hauer SSP2

• Today (2025): 1,928,884 people
• By 2030: 2,069,146 · +7.3%
• By 2040: 2,338,405 · +21.2%
• By 2050: 2,586,608 · +34.1%
• By 2075: 3,061,911 · +58.7%
• By 2100: 3,234,133 · +67.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.76)
• Race & ethnicity: Hispanic / Latino 31% Asian 28% White 23% Two or more races 14% Black 12% Native American 2% Pacific Islander 1%
• Hispanic origin (detail): Mexican 23%
• Common ancestry: Russian 2% Italian 1% Lithuanian 1%
• Foreign-born: 34% · Canada, China, Vietnam
• Languages at home: 51% English-only · Spanish 23% Chinese 10% Tagalog/Filipino 7%

Political lean MEDSL · Alameda

• 2024 margin: Solid D (+53.6) · D 74.6% · R 21.0% · Other 4.4%
• 2008→2024 swing: -5.9pp toward R · 2008: 59.5pp · 2024: 53.6pp
• All cycles: 2024: D+53.6 2020: D+62.5 2016: D+64.4 2012: D+59.8 2008: D+59.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -867.55%
• Current HPI: 265.2446
• Rent YoY: ▲ 1.74%
• 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

+30.6% since first listed

6 events — show timeline

• 2026-04-05 Listed $64,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-05-01 Sold (MLS) $40,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-03-05 Pending — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-03-01 Listed $49,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2023-12-03 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2023-11-04 Listed — bridgeMLS, Bay East AOR, or Contra Costa AOR