200 Kerby St

Bertsch-Oceanview, CA 95531

$58,999B-

3 bd · 2.0 ba · 1,600 sqft · Built 1987 · Manufactured · Active · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,936/mo
• Mortgage (P&I): −$309
• Tax + insurance: −$98
• HOA: −$0
• Vac / Maint / Mgmt: −$407
• Net cashflow: $1,122/mo
• Annual: $13,464/yr
• Cap rate: 29.11%
• Cash-on-cash: 81.51%
• DSCR: 4.63
• 1% rule: 3.28%
• Cash to close: $16,520

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $59k.
• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $59k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $408 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Del Norte County Unified (town): math 25% / reading 36% proficiency, ranked #1,047 of 1,400 in CA (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Crescent Elk Middle (491 students, 72% FRL).
• Market conditions: 230 active listings in the ZIP; 55 units permitted in Del Norte County in 2024 (22 in 5+ unit buildings).
• Del Norte County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $22k; list at $59k implies a 168% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 29.1% vs local median 2.9% in Bertsch-Oceanview — 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

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.