3523 Mobile Way

Sacramento, CA 95834

$44,000B

3 bd · 2.0 ba · 1,040 sqft · Built 1973 · Manufactured · Active · 116 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,794/mo
• Mortgage (P&I): −$231
• Tax + insurance: −$199
• HOA: −$0
• Vac / Maint / Mgmt: −$377
• Net cashflow: $988/mo
• Annual: $11,854/yr
• Cap rate: 36.65%
• Cash-on-cash: 108.42%
• DSCR: 5.82
• 1% rule: 4.08%
• Cash to close: $12,320

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $44k. Condition is rated fair.
• At list price, monthly cash flow is $988 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $44k).
• It's been on market 116 days — a 9% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $40k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $304 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#218 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A; Watch: crime F, cost of living F.
• Twin Rivers Unified (suburban): math 29% / reading 37% proficiency, ranked #970 of 1,400 in CA (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Garden Valley Elementary (331 students, 90% FRL); Rio Tierra Junior High (292 students, 89% FRL); Grant Union High (2,040 students, 88% FRL).
• Watch-outs: flood insurance adds $125/mo.
• Market conditions: Rents flat; 192 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals lingering (median 39d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 6,825 units permitted in Sacramento County in 2024 (1,752 in 5+ unit buildings).
• Sacramento County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.8% rent growth), your $12k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: in FEMA flood zone A99 (mandatory federal flood insurance); extreme-heat days projected 6→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 36.6% vs local median 3.0% in Sacramento — 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.

Questions for listing agent

• It's been on market 116 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?

Repairs flagged (vision-AI assessment)

• Major: Paint — Faded paint on exterior and interior
• Minor: Landscaping — Overgrown areas need trimming