80 Zaca St #62 · Buellton, CA 93427

$215,000

2 bd · 2.0 ba · 1,080 sqft · Manufactured · 90 Days on market

Built 1973 435 sqft lot ↓ 6% since listing

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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 +28.6/30.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Perched in one of Rivergrove Mobile Home Park's most desirable locations, this beautifully maintained 2-bedroom, 2-bath home offers sweeping mountain views and immediate access to the park's tranquil green space. The setting feels open and inviting, with an expansive lawn area that's perfect for unwinding, entertaining, or simply soaking in the scenery. Inside, natural light fills the bright, welcoming kitchen, which opens gracefully into a charming dining area. The spacious living room provides an ideal vantage point for enjoying the mountain backdrop, whether you're hosting friends or settling in for a quiet evening. Thoughtful updates elevate the home throughout, including newer luxury vinyl plank flooring, recessed lighting with dimmer controls, and recent leveling supported by upgraded piers. A newer Tuff Shed adds convenient, versatile storage. Upon transfer, the space rent will be $602.90 and includes water and trash service, with gas and electricity billed directly to the homeowner. Rivergrove Mobile Home Park offers exceptional convenience, located moments from shopping, dining, Highway 101 access, and all the beauty and charm that define the Santa Ynez Valley. Note that Rivergrove Mobile Home Park is a 55 and older park.

Key facts

• Tranquil green space
• Expansive lawn area
• Charming dining area

Tags

• MOUNTAIN VIEWS
• TRANQUIL GREEN SPACE
• EXPANSIVE LAWN AREA
• BRIGHT WELCOMING KITCHEN
• CHARMING DINING AREA
• SPACIOUS LIVING ROOM

Property features AI

Finance

• HOA & community: Association dues include water and trash

Exterior

• Parking: Other parking (no attached garage)
• Utilities: Water included in association; Trash included in association
• Home design: Double wide manufactured home (Skyline); 1 building; Zoned R-1
• Construction: Metal roof; Pier and post foundation
• Exterior features: Pier and post foundation; Metal roof; Level lot; Shed(s); Good condition

Interior

• Kitchen: Refrigerator; Dishwasher; Gas Stove
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating
• Interior features: Refrigerator; Dishwasher; Gas Stove

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $215k.

Deal economics

• At list price, monthly cash flow is $709 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $215k).
• Recommended offer: $202k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 3.0% in Buellton — 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 (#438 in CA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime B; Watch: amenities F, commute F, cost of living F.
• Santa Ynez Valley Union High (town): math 37% / reading 60% proficiency, ranked #386 of 1,400 in CA (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 36 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 719 units permitted in Santa Barbara County in 2024 (217 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 + 3.0% rent growth), your $60k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 3 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

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

Recommended offer $202,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.29% ✓
• Cap rate: 10.25%
• Cash-on-cash: 14.13%
• DSCR: 1.63
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 4.4%
• Equity multiple: 1.17×
• Total profit: $10,336
• Equity at exit: $32,057

10-year hold

• IRR: 13.9%
• Equity multiple: 2.12×
• Total profit: $67,287
• Equity at exit: $18,589

Cash invested: $60,200 (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 93427

• Active inventory: 36
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $2,778 medium
• Mortgage (P&I): −$1,127
• Tax est. 1.5%: −$269 /mo · $3,225/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$583
• Net cashflow: $709

Break-even live

Break-even rent $1,881

Max offer price $215,000

Occupancy floor 69%

Sensitivity live

Price	-10% $857	-5% $783	+0% $709	+5% $634	+10% $560
Rent	-10% $489	-5% $599	+0% $709	+5% $818	+10% $928
Rate	-1.0pp $817	-0.5pp $763	base $709	+0.5pp $653	+1.0pp $596

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
82 2nd St Buellton, CA	2.0	1.0	807	$2,595	$3.22	14d	1	0.53mi
627 Central Ave Unit C Buellton, CA	2.0	1.5	1037	$2,950	$2.84	22d	1	0.64mi

Listing history 18 events

1. 2026-06-18
   days on market $215,000 Active 90 DOM
2. 2026-06-17
   days on market $215,000 Active 89 DOM
3. 2026-06-16
   days on market $215,000 Active 88 DOM
4. 2026-06-15
   days on market $215,000 Active 87 DOM
5. 2026-06-14
   days on market $215,000 Active 85 DOM
6. 2026-06-10
   days on market $215,000 Active 82 DOM
7. 2026-06-09
   days on market $215,000 Active 81 DOM
8. 2026-06-08
   days on market $215,000 Active 80 DOM
9. 2026-06-07
   pricedays on market $215,000 Active 79 DOM
10. 2026-06-03
    days on market $217,500 Active 75 DOM
11. 2026-06-02
    days on market $217,500 Active 74 DOM
12. 2026-06-01
    days on market $217,500 Active 73 DOM
13. 2026-05-31
    days on market $217,500 Active 72 DOM
14. 2026-05-30
    days on market $217,500 Active 71 DOM
15. 2026-03-20
    listed $217,500 Active
16. 2026-03-16
    listed $217,500 Active 1254-char remark

    Show marketing remark (1254 chars)

    Perched in one of Rivergrove Mobile Home Park's most desirable locations, this beautifully maintained 2-bedroom, 2-bath home offers sweeping mountain views and immediate access to the park's tranquil green space. The setting feels open and inviting, with an expansive lawn area that's perfect for unwinding, entertaining, or simply soaking in the scenery. Inside, natural light fills the bright, welcoming kitchen, which opens gracefully into a charming dining area. The spacious living room provides an ideal vantage point for enjoying the mountain backdrop, whether you're hosting friends or settling in for a quiet evening. Thoughtful updates elevate the home throughout, including newer luxury vinyl plank flooring, recessed lighting with dimmer controls, and recent leveling supported by upgraded piers. A newer Tuff Shed adds convenient, versatile storage. Upon transfer, the space rent will be $602.90 and includes water and trash service, with gas and electricity billed directly to the homeowner. Rivergrove Mobile Home Park offers exceptional convenience, located moments from shopping, dining, Highway 101 access, and all the beauty and charm that define the Santa Ynez Valley. Note that Rivergrove Mobile Home Park is a 55 and older park.

17. 2026-02-09
    historical
18. 2025-08-06
    listed $231,000 Active

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥89°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 8 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,333
• − Mortgage interest: −$12,043
• − Property taxes: −$3,225
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,667
• − Management: −$2,667
• − Depreciation: −$6,255
• Taxable income: $5,402
• Est. tax owed @ 24.0%: −$1,297
• After-tax cash flow: $7,207/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: Santa Ynez Valley Union High
• NCES district ID: 0635850
• Math proficiency: 37% ▼ -8.00%
• Reading proficiency: 60% ▼ -13.00%
• Median HH income: $85,622
• Composite: 46.97/100
• National rank: #5151
• State rank: #386 of 1400 in CA

Livability — Buellton

• Score: 63/100
• State rank: #438
• US rank: #15010

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Buellton, CA
• Population (ZIP): 5,866

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: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 24% Two or more races 8%
• Hispanic origin (detail): Mexican 19%
• Common ancestry: Slovak 5% Italian 3% Lithuanian 2%
• Foreign-born: 14% · Canada, Jamaica
• Languages at home: 80% English-only · Spanish 15% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -432.89%
• Current HPI: 247.882
• Rent YoY: —
• Metro: —
• 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

-5.8% since first listed

4 events — show timeline

• 2026-03-20 Listed $217,500 SBMLS
• 2026-03-16 Listed $217,500 NSBCRMLS
• 2026-02-09 Listing Removed — NSBCRMLS
• 2025-08-06 Listed $231,000 NSBCRMLS