13624 Monte Del Sol #142

Prunedale, CA 95012

$165,000D

2 bd · 2.0 ba · 816 sqft · Built 1976 · Manufactured · Active · 230 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,457/mo
• Mortgage (P&I): −$865
• Tax + insurance: −$275
• HOA: −$0
• Vac / Maint / Mgmt: −$306
• Net cashflow: $10/mo
• Annual: $125/yr
• Cap rate: 6.37%
• Cash-on-cash: 0.27%
• DSCR: 1.01
• 1% rule: 0.88%
• Cash to close: $46,200

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $165k.
• At list price, monthly cash flow is $10 ($125/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $146k (11.7% below list).
• It's been on market 230 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $145k (12.0% below list) — sets the bar for market timing.
• 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.
• Location reads 56/100 on livability (#780 in CA) — a working-class tenant base; expect higher turnover. Strengths: employment A+, housing B+; Watch: crime C-, amenities F, commute F.
• North Monterey County Unified (suburban): math 20% / reading 34% proficiency, ranked #1,055 of 1,400 in CA (top 75%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 12 active listings in the ZIP; 530 units permitted in Monterey County in 2024 (50 in 5+ unit buildings).
• Monterey County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 12 sale attempts since 3y ago; this cycle's ask is 10% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $94k; list at $165k implies a 76% gain — meaningful room to come down on a strong offer.
• Cap rate 6.4% vs local median 2.3% in Prunedale — 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 230 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.
• 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.
• 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.