255 E Bolivar #39 · Salinas, CA 93906

$220,000

3 bd · 1.0 ba · 1,000 sqft · Manufactured · 20 Days on market

Built 1973 Fair condition

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• ARV discount +7.5/15.0
• Rent growth +3.7/5.0
• Livability +3.2/5.0
• Schools +3.0/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

3-bedroom, 2-bathroom home offering approximately 1,000 square feet of living space. The layout features a combined kitchen and family room, creating a versatile area for daily living. Residence provides essential amenities and a practical floor plan. For added convenience, a dedicated laundry area with washer and dryer hookups is included, simplifying daily chores. Conveniently situated in North Salinas, Lamplighter Park is close to shopping, restaurants, schools, and major commuter routes. Whether you are just starting out, or looking for an affordable home in a friendly community, this is a fantastic opportunity!

Key facts

• Built 1973
• Listed 20 days

Property features AI

Finance

• Other: Park directions available (inside park, area on Lynwood and Greenway Dr — look for #39)
• HOA & community: Community amenities include billiard room, clubhouse, community pool, outdoor game court, and recreation room; HOA rental restrictions

Exterior

• Parking: Carport with space for 2; Assigned space #39; Monthly space rent $1,285
• Utilities: Septic system connected; Public utilities; Water: other (see remarks)
• Home design: Single-story property
• Construction: Living area listed as 1,000
• Exterior features: Other roof (see remarks); Leased land (park home site)

Interior

• Kitchen: Open kitchen integrated with family room
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central forced air heating; Ceiling fan(s)
• Interior features: Kitchen and family room combined; Laundry hookups only; Ceiling fan(s); Central forced air heating
• Laundry & utility: Laundry hookups only

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $220k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $893 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $220k).
• Recommended offer: $217k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.2% vs local median 2.7% in Salinas — 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 63/100 on livability (#465 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, employment B+; Watch: schools F, crime D-, amenities F.
• Salinas Union High (urban): math 23% / reading 39% proficiency, ranked #998 of 1,400 in CA (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.9%/yr); 45 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 530 units permitted in Monterey County in 2024 (50 in 5+ unit buildings).
• This rent runs 38% of the median local income ($98k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Monterey County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 4.9% rent growth), your $62k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($217k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Recommended offer $216,700 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.39% ✓
• Cap rate: 11.17%
• Cash-on-cash: 17.40%
• DSCR: 1.77
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $127,000
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
55 SAN JUAN GRADE Rd #18	0.55mi	2/2.0 (-1)	1,020 (+2%)	2mo	$130,000	$127	60
255 E Bolivar St #224	0.14mi	2/2.0 (-1)	1,080 (+8%)	23mo	$175,000	$162	52
55 SAN JUAN GRADE Rd #82	0.56mi	2/2.0 (-1)	960 (-4%)	15mo	$150,000	$156	46
55 San Juan Grade #25	0.55mi	2/2.0 (-1)	960 (-4%)	16mo	$42,000	$44	45
55 San Juan Grade #44	0.55mi	2/2.0 (-1)	960 (-4%)	17mo	$138,000	$144	45
55 San Juan Grade Rd #17	0.56mi	2/2.0 (-1)	900 (-10%)	6mo	$80,000	$89	44
55 San Juan Grade Rd #94	0.55mi	2/2.0 (-1)	1,144 (+14%)	17mo	$125,000	$109	27

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 · 4.87% rent growth · sell at horizon

5-year hold

• IRR: 10.9%
• Equity multiple: 1.44×
• Total profit: $27,145
• Equity at exit: $32,803

10-year hold

• IRR: 21.4%
• Equity multiple: 2.98×
• Total profit: $122,047
• Equity at exit: $19,022

Cash invested: $61,600 (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 93906

• Rents YoY: 4.9%
• Active inventory: 45
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $3,055 high
• Mortgage (P&I): −$1,154
• Tax est. 1.5%: −$275 /mo · $3,300/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$642
• Net cashflow: $893

Break-even live

Break-even rent $1,925

Max offer price $220,000

Occupancy floor 66%

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2290 N Main St Salinas, CA	1.0–3.0	1.0–2.0	985	$3,611	$3.67	1d	13	0.25mi
2198 Brutus St Salinas, CA	1.0–2.0	1.0–1.5	893	$2,645	$2.96	7d	2	0.31mi
2402 N Main St Salinas, CA	2.0	1.0	900	$2,500	$2.78	13d	1	0.32mi
93 Castro St Salinas, CA	2.0	1.0–2.0	828	$2,400	$2.90	12d	3	0.44mi
18854 Eisenhower St Unit 18854p Salinas, CA	2.0	1.0	1000	$2,700	$2.70	13d	1	0.52mi
306 England Ave Salinas, CA	3.0	2.0	1104	$3,500	$3.17	13d	1	0.74mi
985 Rogge Rd Salinas, CA	3.0	2.5	1378	$3,850	$2.79	13d	1	1.05mi
1823 Cherokee Dr Salinas, CA	3.0	1.5	952	$3,295	$3.46	13d	1	1.09mi
196 E Alvin Dr Salinas, CA	1.0–2.0	1.0	735	$2,650	$3.61	12d	2	1.39mi

Listing history 16 events

1. 2026-06-18
   days on market $220,000 Active 20 DOM
2. 2026-06-17
   days on market $220,000 Active 19 DOM
3. 2026-06-16
   days on market $220,000 Active 18 DOM
4. 2026-06-15
   days on market $220,000 Active 17 DOM
5. 2026-06-14
   days on market $220,000 Active 15 DOM
6. 2026-06-13
   days on market $220,000 Active 14 DOM
7. 2026-06-10
   days on market $220,000 Active 12 DOM
8. 2026-06-09
   days on market $220,000 Active 11 DOM
9. 2026-06-08
   days on market $220,000 Active 10 DOM
10. 2026-06-07
    days on market $220,000 Active 9 DOM
11. 2026-06-03
    days on market $220,000 Active 5 DOM
12. 2026-06-02
    days on market $220,000 Active 4 DOM
13. 2026-06-01
    days on market $220,000 Active 3 DOM
14. 2026-05-31
    days on market $220,000 Active 2 DOM
15. 2026-05-30
    remarks 623-char remark
16. 2026-05-30
    listed $220,000 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 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 5 d/yr ≥81°F today · 11 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 11 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,663
• − Mortgage interest: −$12,323
• − Property taxes: −$3,300
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,933
• − Management: −$2,933
• − Depreciation: −$6,400
• Taxable income: $7,673
• Est. tax owed @ 24.0%: −$1,842
• After-tax cash flow: $8,878/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

Fair 45/100 Moderate rehab

This 3-bedroom, 2-bathroom home requires moderate renovations to update the kitchen and bathrooms, and improve the exterior and landscaping. These updates would significantly increase its value for both resale and rental purposes.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of replacement
• Moderate bathroom fixtures — dated and in need of replacement
• Minor exterior siding — slight weathering
• Minor landscaping — bare yard with minimal landscaping

Value-add opportunities

• Both update kitchen cabinets and countertops — modernizing the kitchen would increase both resale and rental value
• Both replace bathroom fixtures — modernizing the bathrooms would increase both resale and rental value
• Both landscape the yard — improved curb appeal would increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of replacement	Moderate	$3,000–15,000
bathroom fixtures · dated and in need of replacement	Moderate	$3,000–15,000
exterior siding · slight weathering	Minor	$500–3,000
landscaping · bare yard with minimal landscaping	Minor	$500–3,000
Total estimated repair cost · 4 items		$7,000–36,000

Value-add ROI direction

• Both update kitchen cabinets and countertops — modernizing the kitchen would increase both resale and rental value ↑
• Both replace bathroom fixtures — modernizing the bathrooms would increase both resale and rental value ↑
• Both landscape the yard — improved curb appeal would increase both resale and rental 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: Salinas Union High
• NCES district ID: 0633980
• Math proficiency: 23% ▲ 2.00%
• Reading proficiency: 39% ▲ 1.00%
• Median HH income: $50,670
• Composite: 29.86/100
• National rank: #11691
• State rank: #998 of 1400 in CA

Livability — Salinas

• Score: 63/100
• State rank: #465
• US rank: #15876

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Salinas, CA
• County: Monterey County · 241,191 people
• City population: 119,069
• Metro: Salinas, CA
• Population (ZIP): 64,199
• Household income: $97,555
• Rent vs Own: 45.7% rent · 54.3% own
• Severe rent burden: 1736.0

Population outlook (Monterey County) Hauer SSP2

• Today (2025): 458,436 people
• By 2030: 469,418 · +2.4%
• By 2040: 489,615 · +6.8%
• By 2050: 506,696 · +10.5%
• By 2075: 531,048 · +15.8%
• By 2100: 519,153 · +13.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (76%)
• Race & ethnicity: Hispanic / Latino 76% Two or more races 13% White 13% Asian 7% Black 2%
• Hispanic origin (detail): Mexican 70% Salvadoran 1%
• Common ancestry: Russian 1% Italian 1% Romanian 1%
• Foreign-born: 33% · Canada, China
• Languages at home: 33% English-only · Spanish 60% Tagalog/Filipino 2% Chinese 1%

Political lean MEDSL · Monterey

• 2024 margin: Strong D (+29.9) · D 63.4% · R 33.5% · Other 3.0%
• 2008→2024 swing: -8.4pp toward R · 2008: 38.3pp · 2024: 29.9pp
• All cycles: 2024: D+29.9 2020: D+41.3 2016: D+39.7 2012: D+33.9 2008: D+38.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -690.60%
• Current HPI: 262.5003
• Rent YoY: ▲ 4.87%
• Metro: Salinas, 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

2 events — show timeline

• 2026-05-29 Listed $220,000 MLSListings
• 2026-05-29 Listed $220,000 bridgeMLS, Bay East AOR, or Contra Costa AOR