6180 Via Real #67 · Carpinteria, CA 93013

$395,000

2 bd · 2.0 ba · 1,027 sqft · Manufactured · 10 Days on market

Built 1974 1,306 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 +25.4/30.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Rent growth +5.0/5.0
• Livability +3.4/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits in Vista de Santa Barbara, one of Carpinteria's most sought-after 55+ communities. Located on a quiet cul-de-sac in this beautifully maintained park, this property offers the chance to renovate the existing mobile home and make it your own or explore the possibility of replacing it with a new home. Inside, a sun porch provides valuable additional living space, while outside you'll find two storage sheds, including one set up as a workshop complete with a workbench and tool storage. There is also room for a small garden, outdoor seating area, or your own personal touches. Just a short stroll from the Carpinteria Bluffs and stunning ocean views, this location offers the bes

Key facts

• Quiet cul-de-sac
• Sun porch
• Coastal living

Tags

• QUIET CUL-DE-SAC
• SUN PORCH
• STORAGE SHEDS
• WORKSHOP
• PRIVATE OUTDOOR SPACE
• COASTAL LIVING

Property features AI

Exterior

• Home design: Mobile home; Single-story
• Construction: Built living area of 751; 1 floor in building

Interior

• Kitchen: Dishwasher
• Bedrooms: 2 bedrooms
• Bathrooms: 2 bathrooms
• Interior features: Five total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $395k.

Deal economics

• At list price, monthly cash flow is $904 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $395k).
• Cap rate 9.0% vs local median 3.1% in Carpinteria — 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 68/100 on livability (#283 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, crime B+; Watch: schools D+, amenities F, cost of living F.
• Carpinteria Unified (suburban): math 27% / reading 43% proficiency, ranked #255 of 517 in CA (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+15.2%/yr); 75 active listings in the ZIP; high-income renter base; 719 units permitted in Santa Barbara County in 2024 (217 in 5+ unit buildings).
• At $4,599/mo this rent would consume 50% of the median local household income ($110k/yr) (locally 718% 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 $12k 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 + 8.0% rent growth), your $111k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $395,000

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 1.16% ✓
• Cap rate: 9.04%
• Cash-on-cash: 9.80%
• DSCR: 1.44
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 4.0%
• Equity multiple: 1.16×
• Total profit: $17,914
• Equity at exit: $58,896

10-year hold

• IRR: 17.7%
• Equity multiple: 2.81×
• Total profit: $200,603
• Equity at exit: $34,152

Cash invested: $110,600 (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 93013

• Rents YoY: 15.2%
• Active inventory: 75
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $4,599 medium
• Mortgage (P&I): −$2,071
• Tax est. 1.5%: −$494 /mo · $5,925/yr
• Insurance: −$165
• HOA: −$0
• Vacancy / Maint / Mgmt: −$966
• Net cashflow: $904

Break-even live

Break-even rent $3,455

Max offer price $395,000

Occupancy floor 75%

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: $98,750
• Closing costs: $11,850
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-18
   days on market $395,000 Active 10 DOM
2. 2026-06-17
   days on market $395,000 Active 9 DOM
3. 2026-06-16
   days on market $395,000 Active 8 DOM
4. 2026-06-15
   days on market $395,000 Active 7 DOM
5. 2026-06-13
   days on market $395,000 Active 5 DOM
6. 2026-06-13
   days on market $395,000 Active 4 DOM
7. 2026-06-10
   days on market $395,000 Active 2 DOM
8. 2026-06-08
   statusdays on marketlisting id $395,000 Active 1 DOM
9. 2026-06-07
   remarks 699-char remark
10. 2026-06-07
    listed $395,000 Coming Soon 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $55,189
• − Mortgage interest: −$22,126
• − Property taxes: −$5,925
• − Insurance: −$1,975
• − Repairs & maintenance: −$4,415
• − Management: −$4,415
• − Depreciation: −$11,491
• Taxable income: $4,842
• Est. tax owed @ 24.0%: −$1,162
• After-tax cash flow: $9,680/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)

• District: Carpinteria Unified
• NCES district ID: 0607560
• Math proficiency: 27% ▼ -16.00%
• Reading proficiency: 43% ▼ -5.00%
• Median HH income: $70,780
• Composite: 32.27/100
• National rank: #5758
• State rank: #255 of 517 in CA

Livability — Carpinteria

• Score: 68/100
• State rank: #283
• US rank: #9548

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Carpinteria, CA
• County: Santa Barbara County · 410,380 people
• City population: 16,317
• Metro: Santa Maria-Santa Barbara, CA
• Population (ZIP): 16,317
• Household income: $110,359
• Rent vs Own: 39.0% rent · 61.0% own
• Severe rent burden: 718.0

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 0.57)
• Race & ethnicity: White 51% Hispanic / Latino 41% Two or more races 17% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 38%
• Common ancestry: Slovak 4% Lithuanian 3% Romanian 2%
• Foreign-born: 22% · Canada
• Languages at home: 66% English-only · Spanish 29% Other Indo-European 1% Russian/Polish/Slavic 1%

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: ▼ -1390.66%
• Current HPI: 345.0001
• Rent YoY: ▲ 15.23%
• 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