2900 Parkway Dr #2 · Placerville, CA 95667

$75,000

2 bd · 1.0 ba · 756 sqft · Manufactured public records · 45 Days on market

Built 2003 4.74 ac lot Est $80k · 6% under

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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
• ARV discount +10.4/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +5.0/5.0
• Schools +3.3/10.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

A newly remodeled move-in ready 2003 home awaits in beautiful, well-maintained Golden West Park, for mature adults 55+, located in a country setting, family owned and managed on site for three generations. This home features a fabulous outdoor living space showcasing a covered deck that extends along the house, a completely new kitchen with large pantry cabinet, a large bathroom featuring a new vanity & accessories, washer and gas dryer hookups, two ceiling fans, fresh paint inside and out, beautiful new bedroom carpet and laminate flooring. The home has a propane central heating system and an energy efficient evaporative cooler. Exterior is freshly upgraded with clean, very

Key facts

• Covered deck
• New kitchen
• New vanity

Tags

• OUTDOOR LIVING SPACE
• COVERED DECK
• NEW KITCHEN
• LARGE PANTRY CABINET
• NEW VANITY
• WASHER AND GAS DRYER HOOKUPS

Property features AI

Finance

• Other: Located in a community of 25 units
• Financial info: Lot is not land-leased (land lease flag: No); listed land lease amount present
• HOA & community: No association

Exterior

• Parking: Off-street parking for 2 vehicles
• Utilities: Propane; Individual electric meter; Individual gas meter; Internet available; 220V in kitchen; 220V in laundry; Public water; Septic system
• Home design: Manufactured in park (single wide); Built in 2003; Located in a senior community
• Construction: Manufactured home by HBOS Manufacturing, Golden West make; Skirting: Other
• Exterior features: Shingle/composition roof; Regular-shaped lot

Interior

• Kitchen: Free standing gas range; Free standing refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom with tub/shower over
• Heating & cooling: Central heating; Propane heating; Ceiling fans; Evaporative cooler
• Interior features: Covered deck; Dual-pane full windows; Great room living area; Breakfast area and pantry cabinet in kitchen; Laminate counters; Pets allowed with size limit
• Laundry & utility: Washer/dryer hookups inside

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $75k.

Deal economics

• At list price, monthly cash flow is $924 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.
• Cap rate 21.1% vs local median 2.8% in Placerville — 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 61/100 on livability (#553 in CA) — a middle-class / working-renter tenant base. Strengths: housing B+; Watch: schools D+, amenities D, crime F.
• Placerville Union Elementary (town): math 29% / reading 46% proficiency, ranked #248 of 517 in CA (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+12.5%/yr); 351 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 437 units permitted in El Dorado County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• El Dorado County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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.

Recommended offer $72,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 2.33% ✓
• Cap rate: 21.07%
• Cash-on-cash: 52.79%
• DSCR: 3.35
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $80,136
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2900 Parkway Dr #12	0.06mi	2/1.0	800 (+6%)	2mo	$85,000	$106	86

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 56.2%
• Equity multiple: 3.66×
• Total profit: $55,903
• Equity at exit: $11,183

10-year hold

• IRR: 62.9%
• Equity multiple: 8.92×
• Total profit: $166,391
• Equity at exit: $6,485

Cash invested: $21,000 (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 95667

• Rents YoY: 12.5%
• Active inventory: 351
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,746 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$31 /mo · $370/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $924

Break-even live

Break-even rent $576

Max offer price $75,000

Occupancy floor 42%

Sensitivity live

Price	-10% $966	-5% $945	+0% $924	+5% $903	+10% $881
Rent	-10% $786	-5% $855	+0% $924	+5% $993	+10% $1,062
Rate	-1.0pp $962	-0.5pp $943	base $924	+0.5pp $904	+1.0pp $885

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2915 Jacquier Rd Placerville, CA	3.0	1.0	864	$1,600	$1.85	20d	1	0.81mi
3000 Sippy Ln Unit A Placerville, CA	2.0	2.0	1000	$1,800	$1.80	2d	1	1.22mi

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $370 · $31/mo
• Projected year-2 tax: $570 · $48/mo
• Expected delta: +$200/yr (+$17/mo · 54.1%)

ⓘ 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 8/10 Severe
• 🌡 Heat 5/10 Major 7 d/yr ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 27 unhealthy d/yr today · 32 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,951
• − Mortgage interest: −$4,201
• − Property taxes: −$370
• − Insurance: −$375
• − Repairs & maintenance: −$1,676
• − Management: −$1,676
• − Depreciation: −$2,182
• Taxable income: $10,471
• Est. tax owed @ 24.0%: −$2,513
• After-tax cash flow: $8,573/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: Placerville Union Elementary
• NCES district ID: 0630780
• Math proficiency: 29% ▼ -16.00%
• Reading proficiency: 46% ▼ -11.00%
• Median HH income: $54,662
• Composite: 32.8/100
• National rank: #5626
• State rank: #248 of 517 in CA

Livability — Placerville

• Score: 61/100
• State rank: #553
• US rank: #18366

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: El Dorado County · 144,198 people
• City population: 36,830
• Metro: Sacramento-Roseville-Folsom, CA
• Population (ZIP): 36,830
• Household income: $89,938
• Rent vs Own: 24.7% rent · 75.3% own
• Severe rent burden: 1147.0

Population outlook (El Dorado County) Hauer SSP2

• Today (2025): 191,666 people
• By 2030: 193,662 · +1.0%
• By 2040: 192,583 · +0.5%
• By 2050: 185,904 · -3.0%
• By 2075: 169,543 · -11.5%
• By 2100: 139,623 · -27.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 14% Two or more races 8% Native American 1%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Italian 4% Slovak 4% Lithuanian 3%
• Foreign-born: 6% · Canada, China
• Languages at home: 92% English-only · Spanish 6%

Political lean MEDSL · El Dorado

• 2024 margin: R (+12.0) · D 42.6% · R 54.6% · Other 2.8%
• 2008→2024 swing: -1.5pp toward R · 2008: -10.5pp · 2024: -12.0pp
• All cycles: 2024: R+12.0 2020: R+8.8 2016: R+13.9 2012: R+18.2 2008: R+10.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -480.50%
• Current HPI: 262.6014
• Rent YoY: ▲ 12.48%
• Metro: Sacramento-Roseville-Folsom, 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

Property tax history

-0.1%/yr

Latest (2023): $370 · -0.5% YoY. Source: county tax records.