314 N Albert Ave #86 · Exeter, CA 93221

$69,000

2 bd · 2.0 ba · 1,440 sqft · Land · 34 Days on market

Built 1978 $48/sqft · 8% below area Est $75k · 8% 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 +11.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.4/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this well-maintained 2-bedroom, 2-bath manufactured home located in a desirable senior community in Exeter. Offering approximately 1,440 sq ft of comfortable living space, this home features a spacious layout with a large indoor laundry room for added convenience. Enjoy peaceful mornings in the living room, where expansive windows frame beautiful views of the Sequoia Mountains—perfect for sipping your coffee and taking in the scenery. The exterior has been recently painted, giving the home a fresh, updated look. Refrigerator, washer, and dryer are all included, making this home move-in ready. Don't miss this opportunity to enjoy low-maintenance living in a welcoming communi

Key facts

• Move-in ready
• Expansive windows
• Built 1978

Tags

• LARGE INDOOR LAUNDRY ROOM
• EXPANSIVE WINDOWS
• RECENTLY PAINTED EXTERIOR
• MOVE-IN READY

Property features AI

Finance

• HOA & community: Located in a senior community

Exterior

• Parking: Carport
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected / available; Cable connected
• Home design: Manufactured home (double wide) located in a park; Faces east
• Construction: Composition/shingle roof; Aluminum skirting; Mobile home dimensions approximately 12' x 60'; Model HJ
• Exterior features: Covered patio/deck and front porch; Awnings; Exterior storage; Sprinklers in front; Has a view

Interior

• Kitchen: Gas oven; Gas range; Free-standing gas range; Microwave; Refrigerator; Free-standing refrigerator; Dishwasher (disposal listed separately)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Hot water heating; Central air conditioning; Ceiling fans for cooling
• Interior features: Ceiling fans; Exhaust/vented fans; Disposal; Range hood; Water heater
• Laundry & utility: Washer and dryer (inside laundry)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath land listed at $69k.

Deal economics

• At list price, monthly cash flow is $878 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $69k).
• Recommended offer: $67k (3.0% below list) — sets the bar for market timing.
• Cap rate 21.6% vs local median 3.0% in Exeter — 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 55/100 on livability (#845 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A; Watch: crime C-, schools D, amenities F.
• Exeter Unified (suburban): math 30% / reading 44% proficiency, ranked #832 of 1,400 in CA (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 97 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,447 units permitted in Tulare County in 2024 (307 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $477 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Tulare County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($67k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $66,930 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 2.49% ✓
• Cap rate: 21.57%
• Cash-on-cash: 54.55%
• DSCR: 3.43
• GRM: 3.4

CMA / ARV

• ARV (median comp): $74,800
• List price: $69,000
• Delta: -7.75%
• Verdict: FAIR
• Comps: 8 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 52.8%
• Equity multiple: 3.32×
• Total profit: $44,783
• Equity at exit: $10,288

10-year hold

• IRR: 58.0%
• Equity multiple: 6.75×
• Total profit: $111,131
• Equity at exit: $5,966

Cash invested: $19,320 (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 93221

• Active inventory: 97
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,715 high
• Mortgage (P&I): −$362
• Tax est. 1.5%: −$86 /mo · $1,035/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $878

Break-even live

Break-even rent $604

Max offer price $69,000

Occupancy floor 44%

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
821 Woodland Ave Exeter, CA	3.0	2.0	1539	$2,000	$1.30	21d	1	0.14mi
310 N Orange Ave Unit 4 Exeter, CA	2.0	1.0	900	$1,175	$1.31	43d	1	0.26mi
310 N Orange Ave Unit 12 Exeter, CA	2.0	1.0	900	$1,175	$1.31	13d	1	0.26mi
1303 Vine St Exeter, CA	3.0	2.0	1362	$1,895	$1.39	43d	1	0.31mi
1339 Vine St Exeter, CA	3.0	2.0	1552	$1,895	$1.22	21d	1	0.32mi
351 N D St Exeter, CA	3.0	1.0	961	$1,395	$1.45	43d	1	0.60mi
261 C St Unit 263C Exeter, CA	2.0	1.0	987	$1,650	$1.67	13d	1	0.91mi

Listing history 18 events

1. 2026-06-18
   days on market $69,000 Active 34 DOM
2. 2026-06-17
   days on market $69,000 Active 33 DOM
3. 2026-06-16
   days on market $69,000 Active 32 DOM
4. 2026-06-15
   days on market $69,000 Active 31 DOM
5. 2026-06-14
   days on market $69,000 Active 29 DOM
6. 2026-06-13
   days on market $69,000 Active 28 DOM
7. 2026-06-10
   days on market $69,000 Active 26 DOM
8. 2026-06-09
   days on market $69,000 Active 25 DOM
9. 2026-06-08
   days on market $69,000 Active 24 DOM
10. 2026-06-07
    days on market $69,000 Active 23 DOM
11. 2026-06-05
    days on market $69,000 Active 20 DOM
12. 2026-06-03
    days on market $69,000 Active 19 DOM
13. 2026-06-02
    days on market $69,000 Active 18 DOM
14. 2026-06-01
    days on market $69,000 Active 17 DOM
15. 2026-05-31
    days on market $69,000 Active 16 DOM
16. 2026-05-30
    days on market $69,000 Active 15 DOM
17. 2026-05-15
    status Pending 702-char remark
18. 2026-04-30
    listed $69,000 Active 702-char remark

ⓘ 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 3/10 Moderate FEMA zone X (shaded) · 16% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 50 unhealthy d/yr today · 53 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,584
• − Mortgage interest: −$3,865
• − Property taxes: −$1,035
• − Insurance: −$345
• − Repairs & maintenance: −$1,647
• − Management: −$1,647
• − Depreciation: −$2,007
• Taxable income: $10,038
• Est. tax owed @ 24.0%: −$2,409
• After-tax cash flow: $8,130/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: Exeter Unified
• NCES district ID: 0601423
• Math proficiency: 30% ▼ -2.00%
• Reading proficiency: 44% ▼ -1.00%
• Median HH income: $46,404
• Composite: 34.19/100
• National rank: #10261
• State rank: #832 of 1400 in CA

Livability — Exeter

• Score: 55/100
• State rank: #845
• US rank: #23297

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Exeter, CA
• Population (ZIP): 14,399

Population outlook (Tulare County) Hauer SSP2

• Today (2025): 484,681 people
• By 2030: 496,241 · +2.4%
• By 2040: 518,507 · +7.0%
• By 2050: 534,920 · +10.4%
• By 2075: 548,417 · +13.2%
• By 2100: 513,085 · +5.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (53%)
• Race & ethnicity: Hispanic / Latino 53% White 42% Two or more races 16% Asian 2%
• Hispanic origin (detail): Mexican 50% Puerto Rican 1%
• Common ancestry: Slovak 1% Portuguese 1% Russian 1%
• Foreign-born: 11% · Canada
• Languages at home: 69% English-only · Spanish 28% Tagalog/Filipino 1% Other Indo-European 1%

Political lean MEDSL · Tulare

• 2024 margin: Strong R (+20.7) · D 38.5% · R 59.2% · Other 2.3%
• 2008→2024 swing: -5.4pp toward R · 2008: -15.3pp · 2024: -20.7pp
• All cycles: 2024: R+20.7 2020: R+7.8 2016: R+12.1 2012: R+17.8 2008: R+15.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -187.00%
• Current HPI: 345.1725
• Rent YoY: —
• Metro: —
• 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

3 events — show timeline

• 2026-05-29 Relisted — TCMLS
• 2026-05-15 Pending — TCMLS
• 2026-04-30 Listed $69,000 TCMLS

Property tax history

-1.9%/yr

Latest (2021): $113 · -2.3% YoY. Source: county tax records.