1255 Orcutt Rd Unit B27 · San Luis Obispo, CA 93401

$164,950

2 bd · 2.0 ba · 560 sqft · Manufactured · 67 Days on market

Built 2026 Good condition $295/sqft · 15% above area Est $143k · 15% over ↓ 3% 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
• Schools +4.6/10.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• Rent growth +3.6/5.0
• ARV discount +0.6/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this brand new 2026 Champion manufactured home located in the desirable Colonial Manor Manufactured Home Community in San Luis Obispo. This thoughtfully designed single-wide offers 2 bedrooms and 2 bathrooms with a bright, functional layout that maximizes both comfort and space. The kitchen is equipped with sleek stainless steel appliances, creating a modern and inviting space perfect for everyday living. Indoor laundry hookups add convenience, while the overall design offers a clean, low-maintenance lifestyle. Enjoy the ease of living in a well-maintained community with affordable space rent of just $995 per month—an excellent opportunity to own a brand new home in a prime coastal location.

Key facts

• Coastal location
• Manufactured home
• Built 2026

Tags

• MANUFACTURED HOME
• STAINLESS STEEL APPLIANCES
• INDOOR LAUNDRY HOOKUPS
• LOW-MAINTENANCE LIFESTYLE
• COASTAL LOCATION

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $165k. Condition is rated good.

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 ($3k rent vs $165k).
• Recommended offer: $155k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.3% vs local median 2.1% in San Luis Obispo — 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 74/100 on livability (#132 in CA, #4,576 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: crime F, cost of living F.
• San Luis Coastal Unified (urban): math 50% / reading 58% proficiency, ranked #118 of 517 in CA (top 23%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.4%/yr); 143 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,104 units permitted in San Luis Obispo County in 2024 (273 in 5+ unit buildings).
• This rent runs 35% of the median local income ($97k/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 $5k of value loss. Plan a longer hold.
• San Luis Obispo County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 4.4% rent growth), your $46k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($155k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $155,053 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 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 B-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?
5. 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?
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: 1.72% ✓
• Cap rate: 14.28%
• Cash-on-cash: 28.52%
• DSCR: 2.27
• GRM: 4.9

CMA / ARV

• ARV (median comp): $142,919
• List price: $164,950
• Delta: 15.42%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1121 Orcutt Rd #10	0.04mi	1/1.0 (-1)	547 (-2%)	8mo	$180,600	$330	78
1121 Orcutt #35	0.04mi	2/1.0	480 (-14%)	1mo	$108,000	$225	69

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 · 4.41% rent growth · sell at horizon

5-year hold

• IRR: 24.4%
• Equity multiple: 2.02×
• Total profit: $47,291
• Equity at exit: $24,595

10-year hold

• IRR: 33.1%
• Equity multiple: 4.22×
• Total profit: $148,573
• Equity at exit: $14,262

Cash invested: $46,186 (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 93401

• Rents YoY: 4.4%
• Active inventory: 143
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $2,832 medium
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,474/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$595
• Net cashflow: $1,098

Break-even live

Break-even rent $1,443

Max offer price $164,950

Occupancy floor 56%

Sensitivity live

Price	-10% $1,212	-5% $1,155	+0% $1,098	+5% $1,041	+10% $984
Rent	-10% $874	-5% $986	+0% $1,098	+5% $1,209	+10% $1,321
Rate	-1.0pp $1,181	-0.5pp $1,139	base $1,098	+0.5pp $1,055	+1.0pp $1,011

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: $41,238
• Closing costs: $4,948
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
791 Orcutt Rd San Luis Obispo, CA	1.0	1.0	651	$2,750	$4.22	22d	3	0.40mi
3150 Rockview Pl #8 San Luis Obispo, CA	1.0	1.0	600	$2,475	$4.12	44d	1	0.58mi
2800 Broad St San Luis Obispo, CA	1.0	1.0	464	$2,500	$5.39	44d	1	0.64mi

Listing history 15 events

1. 2026-06-19
   price $164,950 Active 67 DOM
2. 2026-06-18
   days on market $169,950 Active 67 DOM
3. 2026-06-17
   days on market $169,950 Active 66 DOM
4. 2026-06-16
   days on market $169,950 Active 65 DOM
5. 2026-06-15
   days on market $169,950 Active 64 DOM
6. 2026-06-14
   days on market $169,950 Active 62 DOM
7. 2026-06-13
   days on market $169,950 Active 61 DOM
8. 2026-06-10
   days on market $169,950 Active 59 DOM
9. 2026-06-09
   days on market $169,950 Active 58 DOM
10. 2026-06-08
    days on market $169,950 Active 57 DOM
11. 2026-06-07
    days on market $169,950 Active 56 DOM
12. 2026-06-03
    days on market $169,950 Active 52 DOM
13. 2026-06-03
    status $169,950 Active 51 DOM
14. 2026-04-27
    price $169,950 717-char remark

    Show marketing remark (717 chars)

    Welcome to this brand new 2026 Champion manufactured home located in the desirable Colonial Manor Manufactured Home Community in San Luis Obispo. This thoughtfully designed single-wide offers 2 bedrooms and 2 bathrooms with a bright, functional layout that maximizes both comfort and space. The kitchen is equipped with sleek stainless steel appliances, creating a modern and inviting space perfect for everyday living. Indoor laundry hookups add convenience, while the overall design offers a clean, low-maintenance lifestyle. Enjoy the ease of living in a well-maintained community with affordable space rent of just $995 per month—an excellent opportunity to own a brand new home in a prime coastal location.

15. 2026-04-01
    listed $174,950 Active 717-char remark

    Show marketing remark (717 chars)

    Welcome to this brand new 2026 Champion manufactured home located in the desirable Colonial Manor Manufactured Home Community in San Luis Obispo. This thoughtfully designed single-wide offers 2 bedrooms and 2 bathrooms with a bright, functional layout that maximizes both comfort and space. The kitchen is equipped with sleek stainless steel appliances, creating a modern and inviting space perfect for everyday living. Indoor laundry hookups add convenience, while the overall design offers a clean, low-maintenance lifestyle. Enjoy the ease of living in a well-maintained community with affordable space rent of just $995 per month—an excellent opportunity to own a brand new home in a prime coastal location.

ⓘ 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 4/10 Moderate 7 d/yr ≥84°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 11 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,987
• − Mortgage interest: −$9,240
• − Property taxes: −$2,474
• − Insurance: −$825
• − Repairs & maintenance: −$2,719
• − Management: −$2,719
• − Depreciation: −$4,799
• Taxable income: $11,212
• Est. tax owed @ 24.0%: −$2,691
• After-tax cash flow: $10,480/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 · 12 photos

Good 80/100 None rehab

This brand new 2026 Champion manufactured home in a desirable community is move-in ready with a good condition score and minimal maintenance required.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Replace window coverings — Improves energy efficiency and aesthetics
• Both Install smart home devices — Enhances convenience and marketability

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Replace window coverings — Improves energy efficiency and aesthetics ↑
• Both Install smart home devices — Enhances convenience and marketability ↑

ⓘ 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 Luis Coastal Unified
• NCES district ID: 0634800
• Math proficiency: 50% ▼ -14.00%
• Reading proficiency: 58% ▼ -12.00%
• Median HH income: $53,428
• Composite: 46.4/100
• National rank: #2455
• State rank: #118 of 517 in CA

Livability — San Luis Obispo

• Score: 74/100
• State rank: #132
• US rank: #4576

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: San Luis Obispo, CA
• County: San Luis Obispo County · 224,651 people
• City population: 54,204
• Metro: San Luis Obispo-Paso Robles, CA
• Population (ZIP): 29,202
• Household income: $96,824
• Rent vs Own: 52.1% rent · 47.9% own
• Severe rent burden: 2050.0

Population outlook (San Luis Obispo County) Hauer SSP2

• Today (2025): 306,977 people
• By 2030: 320,378 · +4.4%
• By 2040: 343,933 · +12.0%
• By 2050: 366,853 · +19.5%
• By 2075: 428,329 · +39.5%
• By 2100: 460,687 · +50.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 18% Two or more races 12% Asian 4% Black 2%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Lithuanian 4% Italian 3% Portuguese 3%
• Foreign-born: 9% · Canada, China, South Korea
• Languages at home: 84% English-only · Spanish 10% Chinese 1% Other Asian/Pacific 1%

Political lean MEDSL · San Luis Obispo

• 2024 margin: D (+10.9) · D 53.9% · R 43.1% · Other 3.0%
• 2008→2024 swing: +5.5pp toward D · 2008: 5.4pp · 2024: 10.9pp
• All cycles: 2024: D+10.9 2020: D+13.1 2016: D+8.3 2012: D+1.0 2008: D+5.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -796.84%
• Current HPI: 359.9248
• Rent YoY: ▲ 4.41%
• Metro: San Luis Obispo-Paso Robles, 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

-2.9% since first listed

2 events — show timeline

• 2026-04-27 Price Changed $169,950 CRMLS
• 2026-04-01 Listed $174,950 CRMLS