10848 Los Pueblos · Atascadero, CA 93422

$95,000

2 bd · 1.0 ba · 720 sqft · Manufactured · 6 Days on market

Built 1973 Poor condition Est $125k · 24% 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.3/10.0
• Livability +3.2/5.0
• Rent growth +3.1/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Villa Margarita Mobile Home Park in Beautiful Atascadero! This home is located in a nice mobile home park in South Atascadero. It is a 2 bedroom, 1 bath mobile home. The home does need a lot of tender loving care but it is price to sell at $95,000 considering it does need work. This mobile home is located next to a green belt and if has a very deep carport that can accomodate at least two cars. It is an affordable home with low space rent under $700.00 per month. The mobile home lot is large enough to accomodate a 20' by 60' new manufactured home.

Key facts

• Green belt
• Deep carport
• Large lot

Tags

• GREEN BELT
• DEEP CARPORT
• LARGE LOT

Property features AI

Finance

• Other: Pets allowed: dogs and cats; Lot density indicated as 6–10 units per acre
• Financial info: Monthly land lease of $650 (park)
• HOA & community: Senior community; Rural community setting; Located in Villa Margarita Mobile Home Park

Exterior

• Parking: Carport with space for 2 vehicles
• Utilities: Public/district water; Public sewer; Natural gas connected; Electricity connected; Cable available; Telephone service available in street
• Home design: Single-wide mobile home (Champion model); Single story; Mobile home remains on site
• Construction: Metal roof; Pier jacks foundation; Mobile dimensions approximately 12 ft by 60 ft; Year built per public records
• Exterior features: Community pool access; Aluminum skirting; One storage shed; North-facing

Interior

• Kitchen: Gas range; Gas oven; Formica counters; Gas water heater
• Bedrooms: Primary bedroom
• Flooring: Vinyl flooring; Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Formica counters; Screens on windows; One-level home; Entry at carport side door; 36-inch (or wider) halls and multiple access exits for accessibility
• Laundry & utility: Washer hookup; Gas dryer hookup

🏷️ Possibly a rental listed for sale. The $95,000 price doesn't fit this home's estimated sale value (~$125,280) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $95k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $964 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Cap rate 18.5% vs local median 2.1% in Atascadero — 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 65/100 on livability (#369 in CA) — a middle-class / working-renter tenant base. Strengths: employment A+, crime A-; Watch: schools C-, commute C-, amenities F.
• Atascadero Unified (suburban): math 40% / reading 51% proficiency, ranked #508 of 1,400 in CA (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.3%/yr); 93 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k 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 + 2.3% rent growth), your $27k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $95,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1973 — 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. 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.
5. 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.
6. 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: 2.16% ✓
• Cap rate: 18.46%
• Cash-on-cash: 43.47%
• DSCR: 2.93
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $125,280
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10025 El Camino Real #111	0.63mi	2/1.5	804 (+12%)	19mo	$140,000	$174	33

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 · 2.26% rent growth · sell at horizon

5-year hold

• IRR: 39.5%
• Equity multiple: 2.67×
• Total profit: $44,487
• Equity at exit: $14,165

10-year hold

• IRR: 45.5%
• Equity multiple: 5.20×
• Total profit: $111,756
• Equity at exit: $8,214

Cash invested: $26,600 (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 93422

• Rents YoY: 2.3%
• Active inventory: 93
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $2,051 high
• Mortgage (P&I): −$498
• Tax est. 1.5%: −$119 /mo · $1,425/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$431
• Net cashflow: $964

Break-even live

Break-even rent $831

Max offer price $95,000

Occupancy floor 48%

Sensitivity live

Price	-10% $1,029	-5% $996	+0% $964	+5% $931	+10% $898
Rent	-10% $802	-5% $883	+0% $964	+5% $1,045	+10% $1,126
Rate	-1.0pp $1,011	-0.5pp $988	base $964	+0.5pp $939	+1.0pp $914

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9405 Avenida Maria Unit 201 Atascadero, CA	1.0	1.0	477	$1,900	$3.98	45d	1	0.13mi
9405 Avenida Maria Unit 108 Atascadero, CA	1.0	1.0	594	$1,900	$3.20	22d	1	0.13mi
941 Buena Fortuna Cir Unit 843 Atascadero, CA	1.0	1.0	600	$1,945	$3.24	45d	1	0.17mi
941 Buena Fortuna Cir Unit 730 Atascadero, CA	1.0	1.0	600	$1,945	$3.24	22d	1	0.17mi
941 Buena Fortuna Cir Unit 607 Atascadero, CA	1.0	1.0	600	$1,945	$3.24	15d	1	0.17mi

Listing history 5 events

1. 2026-06-21
   days on market $95,000 Active 6 DOM
2. 2026-06-18
   days on market $95,000 Active 3 DOM
3. 2026-06-17
   days on market $95,000 Active 2 DOM
4. 2026-06-16
   remarks 565-char remark
5. 2026-06-16
   listed $95,000 Active 1 DOM

ⓘ 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 8/10 Severe
• 🌡 Heat 4/10 Moderate 6 d/yr ≥94°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 12 unhealthy d/yr today · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,608
• − Mortgage interest: −$5,321
• − Property taxes: −$1,425
• − Insurance: −$475
• − Repairs & maintenance: −$1,969
• − Management: −$1,969
• − Depreciation: −$2,764
• Taxable income: $10,686
• Est. tax owed @ 24.0%: −$2,565
• After-tax cash flow: $8,998/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 · 2 photos

Poor 20/100 Extensive rehab

This mobile home requires extensive repairs and updates to bring it up to a livable condition. Significant investment is needed to improve its exterior, interior, and systems.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major roof — No visible damage, but not inspected
• Major interior walls/paint — No visible interior, but not inspected
• Major bathrooms — No visible bathrooms, but not inspected
• Major kitchen — No visible kitchen, but not inspected
• Major windows — No visible windows, but not inspected
• Major HVAC/mechanicals — No visible HVAC/mechanicals, but not inspected
• Major landscaping — Overgrown bushes, general lack of maintenance

Value-add opportunities

• Both exterior paint — Fresh paint can significantly improve curb appeal and value
• Both roof repair — A new roof will increase the home's value and reduce maintenance costs
• Both window replacement — New windows will improve energy efficiency and aesthetics
• Both HVAC upgrade — A modern HVAC system will improve comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
roof · No visible damage, but not inspected	Major	$15,000–50,000
interior walls/paint · No visible interior, but not inspected	Major	$15,000–50,000
bathrooms · No visible bathrooms, but not inspected	Major	$15,000–50,000
kitchen · No visible kitchen, but not inspected	Major	$15,000–50,000
windows · No visible windows, but not inspected	Major	$15,000–50,000
HVAC/mechanicals · No visible HVAC/mechanicals, but not inspected	Major	$15,000–50,000
landscaping · Overgrown bushes, general lack of maintenance	Major	$15,000–50,000
Total estimated repair cost · 8 items		$120,000–400,000

Value-add ROI direction

• Both exterior paint — Fresh paint can significantly improve curb appeal and value ↑
• Both roof repair — A new roof will increase the home's value and reduce maintenance costs ↑
• Both window replacement — New windows will improve energy efficiency and aesthetics ↑
• Both HVAC upgrade — A modern HVAC system will improve comfort and energy efficiency ↑

ⓘ 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: Atascadero Unified
• NCES district ID: 0603300
• Math proficiency: 40% ▲ 1.00%
• Reading proficiency: 51% ▬ 0.00%
• Median HH income: $66,562
• Composite: 42.81/100
• National rank: #6748
• State rank: #508 of 1400 in CA

Livability — Atascadero

• Score: 65/100
• State rank: #369
• US rank: #12594

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Atascadero, CA
• County: San Luis Obispo County · 224,651 people
• City population: 33,002
• Metro: San Luis Obispo-Paso Robles, CA
• Population (ZIP): 33,002
• Household income: $91,780
• Rent vs Own: 34.4% rent · 65.6% own
• Severe rent burden: 858.0

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 (69%)
• Race & ethnicity: White 69% Hispanic / Latino 22% Two or more races 13% Asian 2%
• Hispanic origin (detail): Mexican 19%
• Common ancestry: Italian 4% Slovak 3% Lithuanian 3%
• Foreign-born: 7% · Canada, South Korea
• Languages at home: 88% English-only · Spanish 9% Arabic 1% Other Indo-European 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: ▼ -632.04%
• Current HPI: 380.1972
• Rent YoY: ▲ 2.26%
• 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

1 event — show timeline

• 2026-06-15 Listed $95,000 CRMLS