10025 El Camino Real #68 · Atascadero, CA 93422

$285,000

3 bd · 2.0 ba · 1,248 sqft · Manufactured public records · 387 Days on market

Built 2021 $228/sqft · 90% above area

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Why this score? — see what drove the D+ 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 +16.1/30.0
• ARV discount +7.5/15.0
• DSCR +5.0/10.0
• Schools +4.3/10.0
• 1% rule +3.7/10.0
• Livability +3.2/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come take a look! Yes, check out this 3-bedroom, 2-bathroom newer model 2021 manufactured home in the well-established 55+Rancho Del Bordo Mobile Home Estates. The park is beautifully maintained and beautifully landscaped. Features include community clubhouse, pool, spa, library, pool tables, sauna and more. An attached carport offers both stairs and a ramp for easy access to the back entrance, which opens into a convenient indoor laundry room. There is also a storage shed. Space rent includes water, trash, and sewer services. Conveniently located in the vibrant community of Atascadero, you’ll enjoy nearby wine tasting, golf, shopping, hiking, parks, concerts, and quick access to the coast and San Luis Obispo.

Key facts

• 2 parking spots
• Community pool
• Built 2021

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $285k.

Deal economics

• At list price, monthly cash flow is $144 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $247k (13.5% below list).
• Recommended offer: $247k (13.5% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 2.2% in Atascadero — 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 65/100 on livability (#369 in CA) — a middle-class / working-renter tenant base. Strengths: employment A+, crime A-; Watch: schools C-, commute C-, amenities F.
• Atascadero Unified (suburban): math 40% / reading 51% proficiency, ranked #508 of 1,400 in CA (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.3%/yr); 93 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,104 units permitted in San Luis Obispo County in 2024 (273 in 5+ unit buildings).
• This rent runs 32% of the median local income ($92k/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 $9k of value loss. Plan a longer hold.
• San Luis Obispo County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 387 days — a 12% lower offer ($251k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y ago; this cycle's ask has dropped $15k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $29k; list at $285k implies a 883% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $246,544 (13.5% below list)

Questions for the listing agent

1. It's been on market 387 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.87% ✗
• Cap rate: 6.90%
• Cash-on-cash: 2.16%
• DSCR: 1.10
• GRM: 9.6

CMA / ARV

• ARV (median comp): $149,675
• List price: $285,000
• Delta: 90.41%
• Verdict: OVERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10025 El Camino Real #81	0.00mi	2/2.0 (-1)	1,248 (0%)	2mo	$120,000	$96	94
10025 El Camino Real #125	0.00mi	2/2.0 (-1)	1,272 (+2%)	8mo	$115,000	$90	85
10025 El Camino Real #91	0.00mi	2/2.0 (-1)	1,248 (0%)	18mo	$164,000	$131	80
10025 El Camino Real #85	0.00mi	3/2.0	1,104 (-12%)	2mo	$100,000	$91	80
10025 El Camino Real #60	0.00mi	2/2.0 (-1)	1,200 (-4%)	20mo	$269,000	$224	72
9200 Pinewood Ct	0.42mi	3/2.0	1,187 (-5%)	1mo	$529,000	$446	72
9199 Willow Ct	0.30mi	3/2.0	1,344 (+8%)	14mo	$440,000	$327	61
10976 Las Casitas #57	0.66mi	3/2.0	1,306 (+5%)	6mo	$330,000	$253	56
10951 Las Casitas	0.64mi	3/2.0	1,361 (+9%)	5mo	$325,000	$239	50

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 · 2.26% rent growth · sell at horizon

5-year hold

• IRR: -13.7%
• Equity multiple: 0.51×
• Total profit: $-38,900
• Equity at exit: $42,494

10-year hold

• IRR: -5.9%
• Equity multiple: 0.63×
• Total profit: $-29,697
• Equity at exit: $24,642

Cash invested: $79,800 (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 93422

• Rents YoY: 2.3%
• Active inventory: 93
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,465 high
• Mortgage (P&I): −$1,495
• Tax from tax record: −$190 /mo · $2,285/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$518
• Net cashflow: $144

Break-even live

Break-even rent $2,283

Max offer price $285,000

Occupancy floor 89%

Sensitivity live

Price	-10% $305	-5% $225	+0% $144	+5% $63	+10% $-17
Rent	-10% $-51	-5% $47	+0% $144	+5% $241	+10% $339
Rate	-1.0pp $287	-0.5pp $216	base $144	+0.5pp $70	+1.0pp $-5

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9333 Musselman Dr Unit 9333-12 Atascadero, CA	2.0	1.0	800	$1,795	$2.24	15d	1	0.21mi
10310 El Camino Real Unit 2 Atascadero, CA	2.0	1.5	850	$1,875	$2.21	22d	1	0.35mi
941 Buena Fortuna Cir Unit 210 Atascadero, CA	2.0	1.5	924	$2,500	$2.71	22d	1	0.53mi
932 Calle Cynthia Atascadero, CA	3.0	2.0	1208	$3,100	$2.57	22d	1	0.62mi
8700 Arcade Rd Apt B Atascadero, CA	2.0	1.0	800	$1,875	$2.34	45d	1	0.80mi
7505 Santa Ysabel Ave Atascadero, CA	3.0	2.0	1190	$3,100	$2.61	22d	1	1.33mi

Listing history 28 events

1. 2026-06-21
   days on market $285,000 Active 387 DOM
2. 2026-06-18
   days on market $285,000 Active 384 DOM
3. 2026-06-17
   days on market $285,000 Active 383 DOM
4. 2026-06-16
   days on market $285,000 Active 382 DOM
5. 2026-06-15
   days on market $285,000 Active 381 DOM
6. 2026-06-14
   days on market $285,000 Active 379 DOM
7. 2026-06-13
   days on market $285,000 Active 378 DOM
8. 2026-06-10
   days on market $285,000 Active 376 DOM
9. 2026-06-09
   days on market $285,000 Active 375 DOM
10. 2026-06-08
    days on market $285,000 Active 374 DOM
11. 2026-06-07
    days on market $285,000 Active 373 DOM
12. 2026-06-05
    days on market $285,000 Active 370 DOM
13. 2026-06-03
    days on market $285,000 Active 369 DOM
14. 2026-06-02
    days on market $285,000 Active 368 DOM
15. 2026-06-01
    days on market $285,000 Active 367 DOM
16. 2026-05-31
    days on market $285,000 Active 366 DOM
17. 2026-05-30
    days on market $285,000 Active 365 DOM
18. 2025-07-17
    price $285,000 726-char remark

    Show marketing remark (726 chars)

    Come take a look! Yes, check out this 3-bedroom, 2-bathroom newer model 2021 manufactured home in the well-established 55+Rancho Del Bordo Mobile Home Estates. The park is beautifully maintained and beautifully landscaped. Features include community clubhouse, pool, spa, library, pool tables, sauna and more. An attached carport offers both stairs and a ramp for easy access to the back entrance, which opens into a convenient indoor laundry room. There is also a storage shed. Space rent includes water, trash, and sewer services. Conveniently located in the vibrant community of Atascadero, you’ll enjoy nearby wine tasting, golf, shopping, hiking, parks, concerts, and quick access to the coast and San Luis Obispo.

19. 2025-05-30
    listed $300,000 Active 726-char remark

    Show marketing remark (726 chars)

    Come take a look! Yes, check out this 3-bedroom, 2-bathroom newer model 2021 manufactured home in the well-established 55+Rancho Del Bordo Mobile Home Estates. The park is beautifully maintained and beautifully landscaped. Features include community clubhouse, pool, spa, library, pool tables, sauna and more. An attached carport offers both stairs and a ramp for easy access to the back entrance, which opens into a convenient indoor laundry room. There is also a storage shed. Space rent includes water, trash, and sewer services. Conveniently located in the vibrant community of Atascadero, you’ll enjoy nearby wine tasting, golf, shopping, hiking, parks, concerts, and quick access to the coast and San Luis Obispo.

20. 2025-05-14
    historical $300,000 726-char remark

    Show marketing remark (726 chars)

    Come take a look! Yes, check out this 3-bedroom, 2-bathroom newer model 2021 manufactured home in the well-established 55+Rancho Del Bordo Mobile Home Estates. The park is beautifully maintained and beautifully landscaped. Features include community clubhouse, pool, spa, library, pool tables, sauna and more. An attached carport offers both stairs and a ramp for easy access to the back entrance, which opens into a convenient indoor laundry room. There is also a storage shed. Space rent includes water, trash, and sewer services. Conveniently located in the vibrant community of Atascadero, you’ll enjoy nearby wine tasting, golf, shopping, hiking, parks, concerts, and quick access to the coast and San Luis Obispo.

21. 2025-01-01
    historical
22. 2024-10-30
    price $296,000
23. 2024-06-24
    price $300,000
24. 2024-05-08
    listed $308,000 Active
25. 2008-03-28
    soldstatus $29,000
26. 2008-03-28
    historical
27. 2007-08-24
    listed $38,000
28. 2007-08-24
    listed $38,000

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

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $2,285 · $190/mo
• Projected year-2 tax: $2,285 · $190/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 4/10 Moderate 6 d/yr ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 12 unhealthy d/yr today · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,585
• − Mortgage interest: −$15,964
• − Property taxes: −$2,285
• − Insurance: −$1,425
• − Repairs & maintenance: −$2,367
• − Management: −$2,367
• − Depreciation: −$8,291
• Taxable loss: −$3,114
• Est. tax savings @ 24.0%: +$747
• After-tax cash flow: $2,475/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: Atascadero Unified
• NCES district ID: 0603300
• Math proficiency: 40% ▲ 1.00%
• Reading proficiency: 51% ▬ 0.00%
• Median HH income: $66,562
• Composite: 42.81/100
• National rank: #6748
• State rank: #508 of 1400 in CA

Livability — Atascadero

• Score: 65/100
• State rank: #369
• US rank: #12594

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Atascadero, CA
• County: San Luis Obispo County · 224,651 people
• City population: 33,002
• Metro: San Luis Obispo-Paso Robles, CA
• Population (ZIP): 33,002
• Household income: $91,780
• Rent vs Own: 34.4% rent · 65.6% own
• Severe rent burden: 858.0

Population outlook (San Luis Obispo County) Hauer SSP2

• Today (2025): 306,977 people
• By 2030: 320,378 · +4.4%
• By 2040: 343,933 · +12.0%
• By 2050: 366,853 · +19.5%
• By 2075: 428,329 · +39.5%
• By 2100: 460,687 · +50.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 22% Two or more races 13% Asian 2%
• Hispanic origin (detail): Mexican 19%
• Common ancestry: Italian 4% Slovak 3% Lithuanian 3%
• Foreign-born: 7% · Canada, South Korea
• Languages at home: 88% English-only · Spanish 9% Arabic 1% Other Indo-European 1%

Political lean MEDSL · San Luis Obispo

• 2024 margin: D (+10.9) · D 53.9% · R 43.1% · Other 3.0%
• 2008→2024 swing: +5.5pp toward D · 2008: 5.4pp · 2024: 10.9pp
• All cycles: 2024: D+10.9 2020: D+13.1 2016: D+8.3 2012: D+1.0 2008: D+5.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -632.04%
• Current HPI: 380.1972
• Rent YoY: ▲ 2.26%
• Metro: San Luis Obispo-Paso Robles, 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

+650.0% since first listed

11 events — show timeline

• 2025-07-17 Price Changed $285,000 CRMLS
• 2025-05-30 Listed $300,000 CRMLS
• 2025-05-14 Coming Soon $300,000 CRMLS
• 2025-01-01 Listing Removed — NSBCRMLS
• 2024-10-30 Price Changed $296,000 NSBCRMLS
• 2024-06-24 Price Changed $300,000 NSBCRMLS
• 2024-05-08 Listed $308,000 NSBCRMLS
• 2008-03-28 Listing Removed — NSBCRMLS
• 2008-03-28 Sold (MLS) $29,000 CRMLS
• 2007-08-24 Listed $38,000 NSBCRMLS
• 2007-08-24 Listed $38,000 CRMLS

Property tax history

+32.6%/yr

Latest (2025): $2,285 · +4.9% YoY. Source: county tax records.