1400 fjord #51 · Solvang, CA 93463

$439,900

3 bd · 2.0 ba · 1,600 sqft · Manufactured · 3 Days on market

Built 2026 Excellent condition Est $448k · at est.

---

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 +28.2/30.0
• DSCR +10.0/10.0
• ARV discount +8.3/15.0
• 1% rule +7.8/10.0
• Condition / age +5.0/5.0
• Schools +4.8/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Rare brand new beautiful custom designed home in desirable Rancho Sanya Ynez in Solvang. 3 bed home with high flat ceilings throughout in this large home with a nice yard space area and great location. complex has all the top amenities and close to all the Solvang area has to offer.

Key facts

• Community pool
• Built 2026
• Listed 3 days

Property features AI

Finance

• HOA & community: Senior community; Community includes a golf course; Land lease of $1,259 (land lease applies); Manager approval required

Exterior

• Parking: Located in Rancho Santa Ynez park
• Utilities: Public sewer; District/public water
• Home design: Single-story mobile home (27 ft x 60 ft); Mobile home remains on site; Built by builder (year built source: Builder)
• Construction: Mobile construction
• Exterior features: Association pool; Park nearby

Interior

• Bathrooms: 2 full bathrooms
• Interior features: One-level home with front entry; Entry located at the front
• Laundry & utility: Laundry inside the home

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $440k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $440k).
• Cap rate 10.1% vs local median 2.3% in Solvang — 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 76/100 on livability (#96 in CA, #3,502 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: housing C-, commute D, cost of living F.
• Solvang Elementary (town): math 46% / reading 63% proficiency, ranked #104 of 517 in CA (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 71 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 719 units permitted in Santa Barbara County in 2024 (217 in 5+ unit buildings).
• At $5,620/mo this rent would consume 57% of the median local household income ($118k/yr) (locally 394% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Santa Barbara County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $123k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $439,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
3. 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.
4. 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.
5. 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: 1.28% ✓
• Cap rate: 10.11%
• Cash-on-cash: 13.63%
• DSCR: 1.61
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $448,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1400 fjord Dr #8	0.00mi	3/2.0	1,620 (+1%)	11mo	$424,000	$262	89
89 Rio Vis	0.01mi	3/2.0	1,560 (-2%)	10mo	$435,000	$279	87
107 Sierra Vis	0.04mi	3/2.0	1,500 (-6%)	4mo	$475,000	$317	84
51 Via De Sol	0.10mi	2/2.0 (-1)	1,536 (-4%)	4mo	$130,000	$85	80
11 Paseo Del Rio	0.14mi	3/2.0	1,581 (-1%)	14mo	$445,000	$281	80
88 Rio	0.00mi	3/2.0	1,503 (-6%)	13mo	$345,000	$230	78
104 Sierra Vis #104	0.06mi	3/2.0	1,488 (-7%)	10mo	$417,000	$280	77
104 Sierra Vis	0.06mi	3/2.0	1,488 (-7%)	10mo	$417,000	$280	77
153 Val Verde	0.07mi	2/2.0 (-1)	1,440 (-10%)	0mo	$175,000	$122	75
155 Val Verde	0.06mi	3/2.0	1,719 (+7%)	13mo	$590,000	$343	74
8 Paseo Del Rio	0.11mi	3/2.0	1,440 (-10%)	16mo	$90,000	$63	65
9 Paseo Del Rio	0.12mi	2/2.0 (-1)	1,400 (-12%)	8mo	$400,000	$286	62

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.8%
• Equity multiple: 1.15×
• Total profit: $17,937
• Equity at exit: $65,591

10-year hold

• IRR: 13.3%
• Equity multiple: 2.06×
• Total profit: $130,740
• Equity at exit: $38,035

Cash invested: $123,172 (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 93463

• Active inventory: 71
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $5,620 medium
• Mortgage (P&I): −$2,307
• Tax est. 1.5%: −$550 /mo · $6,598/yr
• Insurance: −$183
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,180
• Net cashflow: $1,400

Break-even live

Break-even rent $3,848

Max offer price $439,900

Occupancy floor 70%

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: $109,975
• Closing costs: $13,197
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
137 3rd St Solvang, CA	3.0	3.5	2200	$7,250	$3.30	14d	1	0.22mi
1672 Eucalyptus Dr Unit A Solvang, CA	2.0	2.0	1220	$2,900	$2.38	14d	1	0.96mi
1722 Eucalyptus Dr Solvang, CA	3.0	2.0	1872	$4,000	$2.14	14d	1	1.04mi
1695 Overdel Ln Solvang, CA	3.0	2.0	2100	$6,500	$3.10	14d	1	1.30mi

Listing history 4 events

1. 2026-06-18
   days on market $439,900 Active 3 DOM
2. 2026-06-17
   days on market $439,900 Active 2 DOM
3. 2026-06-15
   remarks 283-char remark
4. 2026-06-15
   listed $439,900 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 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥91°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 8 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $67,436
• − Mortgage interest: −$24,641
• − Property taxes: −$6,598
• − Insurance: −$2,200
• − Repairs & maintenance: −$5,395
• − Management: −$5,395
• − Depreciation: −$12,797
• Taxable income: $10,410
• Est. tax owed @ 24.0%: −$2,498
• After-tax cash flow: $14,296/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 · 12 photos

Excellent 100/100 None rehab

This custom-designed manufactured home in Solvang is in excellent condition with no visible repairs needed. It offers a modern kitchen, bathrooms, and hardwood floors, making it move-in ready for both resale and rental.

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace light fixtures — Modern light fixtures improve aesthetics and energy efficiency
• Both Install smart home devices — Smart home devices increase convenience and property value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace light fixtures — Modern light fixtures improve aesthetics and energy efficiency ↑
• Both Install smart home devices — Smart home devices increase convenience and property value ↑

ⓘ 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: Solvang Elementary
• NCES district ID: 0637110
• Math proficiency: 46% ▼ -22.00%
• Reading proficiency: 63% ▼ -5.00%
• Median HH income: $65,321
• Composite: 47.91/100
• National rank: #2211
• State rank: #104 of 517 in CA

Livability — Solvang

• Score: 76/100
• State rank: #96
• US rank: #3502

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Solvang, CA
• County: Santa Barbara County · 410,380 people
• City population: 8,130
• Metro: Santa Maria-Santa Barbara, CA
• Population (ZIP): 8,130
• Household income: $118,488
• Rent vs Own: 40.3% rent · 59.7% own
• Severe rent burden: 394.0

Population outlook (Santa Barbara County) Hauer SSP2

• Today (2025): 484,679 people
• By 2030: 505,323 · +4.3%
• By 2040: 545,783 · +12.6%
• By 2050: 584,263 · +20.5%
• By 2075: 682,586 · +40.8%
• By 2100: 723,188 · +49.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 19% Two or more races 14% Asian 3%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Slovak 5% Lithuanian 3% Iranian 2%
• Foreign-born: 15% · Canada, China, Dominican Republic
• Languages at home: 77% English-only · Spanish 15% Chinese 2% Arabic 2%

Political lean MEDSL · Santa Barbara

• 2024 margin: Strong D (+26.7) · D 61.8% · R 35.1% · Other 3.1%
• 2008→2024 swing: +3.8pp toward D · 2008: 22.9pp · 2024: 26.7pp
• All cycles: 2024: D+26.7 2020: D+32.1 2016: D+28.2 2012: D+17.1 2008: D+22.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -273.23%
• Current HPI: 324.7536
• Rent YoY: —
• Metro: Santa Maria-Santa Barbara, 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 $439,900 CRMLS