41 Almond

Hollister, CA 95023

$60,000D+

2 bd · 2.0 ba · 720 sqft · Built 1975 · Manufactured · Pending · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,510/mo
• Mortgage (P&I): −$315
• Tax + insurance: −$100
• HOA: −$1,550
• Vac / Maint / Mgmt: −$527
• Net cashflow: $18/mo
• Annual: $222/yr
• Cap rate: 6.66%
• Cash-on-cash: 1.32%
• DSCR: 1.06
• 1% rule: 4.18%
• Cash to close: $16,800

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $60k. Condition is rated fair.
• At list price, monthly cash flow is $18 ($222/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $60k).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#288 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, health & safety A+, employment A-; Watch: commute F, cost of living F.
• San Benito High (town): math 29% / reading 55% proficiency, ranked #593 of 1,400 in CA (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hollister Dual Language Academy (847 students, 51% FRL); Rancho San Justo (556 students, 61% FRL); Hollister High (3,465 students, 44% FRL).
• Watch-outs: HOA is 62% of rent.
• Market conditions: Rents rising (+3.4%/yr); 279 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 281 units permitted in San Benito County in 2024 (0 in 5+ unit buildings).
• San Benito County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.7% vs local median 2.9% in Hollister — 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

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.

Repairs flagged (vision-AI assessment)

• Major: siding — Significant wear and tear
• Major: roof — Exposed structure
• Major: patio — Damaged bricks