4326 Calle Real #140 · Eastern Goleta Valley, CA 93110

$275,000

1 bd · 1.0 ba · 624 sqft · Manufactured · 31 Days on market

Built 1970 1,100 sqft lot

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Why this score? — see what drove the C- 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 +16.8/30.0
• ARV discount +7.5/15.0
• Appreciation +7.0/10.0
• DSCR +5.2/10.0
• Schools +5.0/10.0
• 1% rule +4.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Rare opportunity for ''all cash'' buyer for complete rehab according to park standards. To be sold ''AS IS''. Must qualify as owner/occupant. Application to be submitted to park management. Takes 15 days to be approved. Mobile home renters not permitted in park. SoCal Edison to do a CPUC conversion to update park infrastructure from 20 amps to 50 amps at some future date. When update is complete, possible opportunity to replace existing mobile home with new mobile home. All-ages park. Clubhouse and swimming pool. Convenient access to shopping. Easy access to 101 Freeway.

Key facts

• Clubhouse
• Swimming pool
• Complete rehab

Tags

• COMPLETE REHAB
• CLUBHOUSE
• SWIMMING POOL
• CONVENIENT ACCESS TO SHOPPING
• EASY ACCESS TO 101 FREEWAY

Property features AI

Finance

• HOA & community: Association present; Community amenities include clubhouse, pool, and guest parking; Pets allowed

Exterior

• Parking: No attached garage
• Utilities: Sewer hookup; Underground utilities
• Home design: Single-wide manufactured home; Manufacturer: Roadcraft; Mobile dimensions approximately 12' wide by 55' long; One building
• Construction: Aluminum siding; Pier and post foundation; Other roof
• Exterior features: Enclosed patio/porch; Level lot; Near public transit

Interior

• Kitchen: Refrigerator; Gas range (built-in); Microwave
• Bedrooms: Primary bedroom; Sun room (listed among rooms)
• Flooring: Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Blinds; Enclosed sun room; Property listed as fixer/poor condition
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $275k.

Deal economics

• At list price, monthly cash flow is $-250 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $239k (13.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $263k (4.4% below list).
• Recommended offer: $239k (13.2% below list) — sets the bar for cash-flow.
• Cap rate 7.1% vs local median 1.2% in Eastern Goleta Valley — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Zoned schools: Hope Elementary (269 students, 43% FRL); La Colina Junior High (900 students, 42% FRL).
• Market conditions: 49 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 719 units permitted in Santa Barbara County in 2024 (217 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($2k loan paydown + $11k appreciation (4.0% local appreciation)).
• Santa Barbara County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($267k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); moderate wildfire risk; extreme-heat days projected 10→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $238,794 (13.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 0.96% ✗
• Cap rate: 7.06%
• Cash-on-cash: 2.75%
• DSCR: 1.12
• GRM: 8.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.96% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 6.8%
• Equity multiple: 1.41×
• Total profit: $31,661
• Equity at exit: $138,724

10-year hold

• IRR: 9.2%
• Equity multiple: 2.54×
• Total profit: $118,691
• Equity at exit: $226,334

Cash invested: $77,000 (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 93110

• Home prices YoY: 1.2%
• Active inventory: 49
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $2,629 medium
• Mortgage (P&I): −$1,442
• Tax est. 1.5%: −$344 /mo · $4,125/yr
• Insurance: −$115
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$552
• Net cashflow: $-250

Break-even live

Break-even rent $2,946

Max offer price $238,794

Occupancy floor —

Sensitivity live

Price	-10% $-60	-5% $-155	+0% $-250	+5% $-345	+10% $-440
Rent	-10% $-458	-5% $-354	+0% $-250	+5% $-146	+10% $-43
Rate	-1.0pp $-112	-0.5pp $-180	base $-250	+0.5pp $-321	+1.0pp $-394

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
102 N Hope Ave Santa Barbara, CA	1.0–2.0	1.0	750	$2,650	$3.53	25d	1	1.28mi

Listing history 7 events

1. 2026-06-10
   price $275,000 Pending 31 DOM
2. 2026-05-13
   status Active 577-char remark

   Show marketing remark (577 chars)

   Rare opportunity for ''all cash'' buyer for complete rehab according to park standards. To be sold ''AS IS''. Must qualify as owner/occupant. Application to be submitted to park management. Takes 15 days to be approved. Mobile home renters not permitted in park. SoCal Edison to do a CPUC conversion to update park infrastructure from 20 amps to 50 amps at some future date. When update is complete, possible opportunity to replace existing mobile home with new mobile home. All-ages park. Clubhouse and swimming pool. Convenient access to shopping. Easy access to 101 Freeway.

3. 2026-05-13
   status Active

   Show marketing remark (577 chars)

   Rare opportunity for ''all cash'' buyer for complete rehab according to park standards. To be sold ''AS IS''. Must qualify as owner/occupant. Application to be submitted to park management. Takes 15 days to be approved. Mobile home renters not permitted in park. SoCal Edison to do a CPUC conversion to update park infrastructure from 20 amps to 50 amps at some future date. When update is complete, possible opportunity to replace existing mobile home with new mobile home. All-ages park. Clubhouse and swimming pool. Convenient access to shopping. Easy access to 101 Freeway.

4. 2026-05-07
   status Pending

   Show marketing remark (577 chars)

   Rare opportunity for ''all cash'' buyer for complete rehab according to park standards. To be sold ''AS IS''. Must qualify as owner/occupant. Application to be submitted to park management. Takes 15 days to be approved. Mobile home renters not permitted in park. SoCal Edison to do a CPUC conversion to update park infrastructure from 20 amps to 50 amps at some future date. When update is complete, possible opportunity to replace existing mobile home with new mobile home. All-ages park. Clubhouse and swimming pool. Convenient access to shopping. Easy access to 101 Freeway.

5. 2026-05-07
   status Pending 577-char remark

   Show marketing remark (577 chars)

   Rare opportunity for ''all cash'' buyer for complete rehab according to park standards. To be sold ''AS IS''. Must qualify as owner/occupant. Application to be submitted to park management. Takes 15 days to be approved. Mobile home renters not permitted in park. SoCal Edison to do a CPUC conversion to update park infrastructure from 20 amps to 50 amps at some future date. When update is complete, possible opportunity to replace existing mobile home with new mobile home. All-ages park. Clubhouse and swimming pool. Convenient access to shopping. Easy access to 101 Freeway.

6. 2026-04-20
   listed $275,000 Active 577-char remark

   Show marketing remark (577 chars)

   Rare opportunity for ''all cash'' buyer for complete rehab according to park standards. To be sold ''AS IS''. Must qualify as owner/occupant. Application to be submitted to park management. Takes 15 days to be approved. Mobile home renters not permitted in park. SoCal Edison to do a CPUC conversion to update park infrastructure from 20 amps to 50 amps at some future date. When update is complete, possible opportunity to replace existing mobile home with new mobile home. All-ages park. Clubhouse and swimming pool. Convenient access to shopping. Easy access to 101 Freeway.

7. 2026-04-20
   listed $275,000 Active

   Show marketing remark (577 chars)

   Rare opportunity for ''all cash'' buyer for complete rehab according to park standards. To be sold ''AS IS''. Must qualify as owner/occupant. Application to be submitted to park management. Takes 15 days to be approved. Mobile home renters not permitted in park. SoCal Edison to do a CPUC conversion to update park infrastructure from 20 amps to 50 amps at some future date. When update is complete, possible opportunity to replace existing mobile home with new mobile home. All-ages park. Clubhouse and swimming pool. Convenient access to shopping. Easy access to 101 Freeway.

ⓘ 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 AE · 22% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 6/10 Major 10 d/yr ≥82°F today · 26 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 10 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,546
• − Mortgage interest: −$15,404
• − Property taxes: −$4,125
• − Insurance: −$6,494
• − Repairs & maintenance: −$2,524
• − Management: −$2,524
• − Depreciation: −$8,000
• Taxable loss: −$7,524
• Est. tax savings @ 24.0%: +$1,806
• After-tax cash flow: $-1,197/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.

Schools (NCES district)

No district data.

Livability — Eastern Goleta Valley

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Eastern Goleta Valley, CA
• County: Santa Barbara County · 410,380 people
• City population: 34,619
• Metro: Santa Maria-Santa Barbara, CA
• Population (ZIP): 15,436
• Household income: $129,209
• Rent vs Own: 36.3% rent · 63.7% own
• Severe rent burden: 415.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 59% Hispanic / Latino 32% Two or more races 14% Asian 5% Black 1%
• Hispanic origin (detail): Mexican 25%
• Common ancestry: Italian 3% Romanian 3% Lithuanian 2%
• Foreign-born: 17% · Canada, China
• Languages at home: 76% English-only · Spanish 17% Other Indo-European 3% Other Asian/Pacific 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: ▲ 3.96%
• Current HPI: 323.0805
• 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

+0.0% since first listed

6 events — show timeline

• 2026-05-13 Relisted — NSBCRMLS
• 2026-05-13 Relisted — SBMLS
• 2026-05-07 Pending — SBMLS
• 2026-05-07 Pending — NSBCRMLS
• 2026-04-20 Listed $275,000 SBMLS
• 2026-04-20 Listed $275,000 NSBCRMLS