1345 Chelsea Way · Hayward, CA 94544

$189,900

2 bd · 2.0 ba · 1,440 sqft · Manufactured · 16 Days on market

Built 1975 Est $281k · 32% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Rent growth +3.1/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

New Price!! . Wow!! Look at this. A 2 bedroom 2 bath Mobil home located in a senior park in Hayward with low space rent (under rent control) and close to San Mateo and dumbarten bridges, plus Shopping, Bart, and many restaurants !! Clubhouse with Pool, Pool room, and many activities. Independent living at it's best!! This unit is located in the much sought after park..Georgian Manor Mobil Home park. Open floor plan with new kitchen appliances and 1440 Sq. feet of living space. ( Low space rent of $707 includes water, garbage and sewer. )

Key facts

• Kitchen with island
• Garden space
• Community pool

Tags

• OPEN LIVING AND DINING AREA
• KITCHEN WITH ISLAND
• ENCLOSED SCREENED ROOM
• GARDEN SPACE

Property features AI

Finance

• HOA & community: Senior community; Park name: GEORGIAN MANOR; Pets allowed (cats and dogs OK; number limit; upon approval)

Exterior

• Parking: Carport; Awning over car; Carport for 2 or more; Tandem parking
• Utilities: Public water; Public sewer
• Home design: Manufactured in park (mobile home); Double wide; Model: Glenbrook
• Construction: Metal siding; Metal skirt
• Exterior features: Back yard; Side yard; Community pool; Clubhouse; Greenbelt

Interior

• Kitchen: Laminate counters; Dishwasher; Gas range / cooktop; Refrigerator
• Bedrooms: 2 bedrooms (street level)
• Flooring: Linoleum; Carpet
• Bathrooms: 2 full bathrooms; Primary bathroom with stall shower, sunken tub, fiberglass; Other bathroom(s) with shower over tub
• Heating & cooling: Forced air heating (natural gas); No air conditioning
• Interior features: Dining area; Family room
• Laundry & utility: Dedicated laundry room; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $190k.

Deal economics

• At list price, monthly cash flow is $991 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• Recommended offer: $187k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.5% vs local median 2.1% in Hayward — 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 75/100 on livability (#124 in CA, #4,294 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, health & safety A+; Watch: schools D, crime F, cost of living F.
• Hayward Unified (urban): math 25% / reading 37% proficiency, ranked #935 of 1,400 in CA (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.6%/yr); 169 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).
• This rent runs 35% of the median local income ($108k/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Alameda County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.6% rent growth), your $53k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y ago 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.
• Current owner paid $165k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $152/mo.
• Climate carrying-cost: in FEMA flood zone AH (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $187,051 (1.5% below list)

Questions for the listing agent

1. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is F 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: 1.64% ✓
• Cap rate: 13.52%
• Cash-on-cash: 25.80%
• DSCR: 2.15
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $280,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1438 Buckingham Way	0.15mi	2/2.0	1,440 (0%)	2mo	$270,000	$188	92
29050 S Westminster	0.23mi	2/2.0	1,440 (0%)	5mo	$259,000	$180	86
1352 Chelsea Way	0.02mi	2/2.0	1,296 (-10%)	5mo	$200,000	$154	78
1439 Almeria Dr	0.20mi	2/2.0	1,368 (-5%)	7mo	$209,900	$153	77
29255 Harpoon Way	0.51mi	2/2.0	1,440 (0%)	1mo	$265,000	$184	75
29413 Sandburg Way	0.36mi	2/2.0	1,380 (-4%)	5mo	$327,000	$237	72
1580 Balein Ct #14	0.39mi	3/2.0 (+1)	1,458 (+1%)	6mo	$350,000	$240	70
29043 Windemere	0.09mi	3/2.0 (+1)	1,260 (-12%)	3mo	$319,000	$253	67
29424 Providence Way	0.49mi	3/2.0 (+1)	1,404 (-2%)	2mo	$399,800	$285	67
1400 Buckingham Way	0.15mi	3/2.0 (+1)	1,607 (+12%)	6mo	$385,000	$240	63
29315 Harpoon Way	0.53mi	2/2.0	1,334 (-7%)	1mo	$255,000	$191	62
29330 Middleborough Way	0.45mi	3/3.0 (+1)	1,640 (+14%)	2mo	$319,000	$195	46

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 · 2.58% rent growth · sell at horizon

5-year hold

• IRR: 14.7%
• Equity multiple: 1.59×
• Total profit: $31,183
• Equity at exit: $28,315

10-year hold

• IRR: 23.1%
• Equity multiple: 2.95×
• Total profit: $103,681
• Equity at exit: $16,419

Cash invested: $53,172 (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 94544

• Rents YoY: 2.6%
• Active inventory: 169
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $3,108 high
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$237 /mo · $2,848/yr
• Insurance: −$79
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$653
• Net cashflow: $991

Break-even live

Break-even rent $1,854

Max offer price $189,900

Occupancy floor 63%

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
28187 Karn Dr Hayward, CA	3.0	2.5	1335	$3,300	$2.47	5d	1	0.42mi
720 W Tennyson Rd Hayward, CA	3.0	1.0–2.0	630	$2,805	$4.45	1d	1	0.58mi
29189 Lassen St Hayward, CA	3.0	2.0	1180	$3,500	$2.97	43d	1	0.74mi
27500 Tampa Ave Unit 85 Hayward, CA	2.0	1.5	950	$2,275	$2.39	14d	1	0.75mi
34 Ballard Ct Hayward, CA	2.0	1.0	1000	$2,400	$2.40	43d	1	0.78mi
27162 Tampa Ave #70 Hayward, CA	2.0	1.0	977	$2,550	$2.61	3d	1	0.91mi
981 Cheryl Ann Cir #40 Hayward, CA	3.0	2.0	1245	$3,800	$3.05	43d	1	0.97mi
317 Tennyson Rd Hayward, CA	3.0	1.0	1050	$3,395	$3.23	12d	1	0.98mi
27427 Stoneridge Ct Hayward, CA	2.0	1.5	1008	$2,500	$2.48	43d	1	1.04mi
27703 Persimmon Dr Hayward, CA	3.0	3.0	1549	$3,695	$2.39	43d	1	1.05mi
29163 Dixon St Hayward, CA	2.0–3.0	1.0–1.5	1100	$2,995	$2.72	1d	5	1.05mi
111 Notion Way Hayward, CA	3.0	2.5	1718	$4,250	$2.47	43d	1	1.05mi
29289 Dixon St Hayward, CA	2.0	1.0–2.0	990	$2,285	$2.31	23d	2	1.06mi
27070 Manon Ave Unit 6A Hayward, CA	2.0	1.0	900	$2,200	$2.44	43d	1	1.15mi
28850 Dixon St Hayward, CA	1.0–2.0	1.0–2.0	906	$3,406	$3.76	1d	10	1.17mi
376 Line St Hayward, CA	2.0	2.0	1286	$3,500	$2.72	1d	1	1.18mi
27033 Belvedere Ct Apt 8 Hayward, CA	2.0	2.0	900	$2,400	$2.67	24d	1	1.19mi
655 Tennyson Rd Hayward, CA	1.0–2.0	1.0–2.0	838	$3,169	$3.78	2d	7	1.20mi
29384 Hub Ln Hayward, CA	3.0	2.5	1684	$3,950	$2.35	3d	1	1.22mi
29384 Hub Ln Hayward, CA	3.0	2.5	1684	$3,950	$2.35	1d	1	1.22mi
2901 Sorrento Way Union City, CA	3.0	2.5	1869	$5,000	$2.68	1d	1	1.25mi
1234 McFarlane Ln Hayward, CA	3.0	2.0	1311	$3,660	$2.79	12d	1	1.28mi
27715 Cliffwood Ave Hayward, CA	3.0	2.0	1128	$3,800	$3.37	43d	1	1.28mi
28168 Mission Blvd Hayward, CA	1.0–3.0	1.0–2.0	1196	$3,947	$3.30	1d	9	1.32mi
837 Hancock St Hayward, CA	1.0–3.0	1.0–2.0	955	$3,188	$3.34	1d	14	1.40mi
26525 Gading Rd Hayward, CA	2.0	1.0	950	$2,350	$2.47	43d	1	1.47mi
27463 Ponderosa Ct Hayward, CA	2.0	1.5	988	$2,790	$2.82	43d	1	1.48mi
2500 Medallion Dr Union City, CA	1.0–3.0	1.0	781	$2,585	$3.31	1d	9	1.49mi

Listing history 12 events

1. 2026-06-18
   days on market $189,900 Active 16 DOM
2. 2026-06-17
   days on market $189,900 Active 15 DOM
3. 2026-06-16
   days on market $189,900 Active 14 DOM
4. 2026-06-15
   days on market $189,900 Active 13 DOM
5. 2026-06-13
   days on market $189,900 Active 11 DOM
6. 2026-06-13
   days on market $189,900 Active 10 DOM
7. 2026-06-09
   days on market $189,900 Active 7 DOM
8. 2026-06-08
   days on market $189,900 Active 6 DOM
9. 2026-06-07
   days on market $189,900 Active 5 DOM
10. 2026-06-04
    days on market $189,900 Active 2 DOM
11. 2026-06-03
    remarks 621-char remark
12. 2026-06-03
    listed $189,900 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 4/10 Moderate FEMA zone AH · 21% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥89°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 12 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,298
• − Mortgage interest: −$10,637
• − Property taxes: −$2,848
• − Insurance: −$2,774
• − Repairs & maintenance: −$2,984
• − Management: −$2,984
• − Depreciation: −$5,524
• Taxable income: $9,546
• Est. tax owed @ 24.0%: −$2,291
• After-tax cash flow: $9,602/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: Hayward Unified
• NCES district ID: 0616740
• Math proficiency: 25% ▼ -1.00%
• Reading proficiency: 37% ▬ 0.00%
• Median HH income: $65,326
• Composite: 31.27/100
• National rank: #11241
• State rank: #935 of 1400 in CA

Livability — Hayward

• Score: 75/100
• State rank: #124
• US rank: #4294

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hayward, CA
• County: Alameda County · 1,614,355 people
• City population: 191,800
• Metro: San Francisco-Oakland-Berkeley, CA
• Population (ZIP): 76,947
• Household income: $107,785
• Rent vs Own: 43.8% rent · 56.2% own
• Severe rent burden: 2573.0

Population outlook (Alameda County) Hauer SSP2

• Today (2025): 1,928,884 people
• By 2030: 2,069,146 · +7.3%
• By 2040: 2,338,405 · +21.2%
• By 2050: 2,586,608 · +34.1%
• By 2075: 3,061,911 · +58.7%
• By 2100: 3,234,133 · +67.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: Hispanic / Latino 45% Asian 28% Two or more races 13% White 11% Black 7% Pacific Islander 4% Native American 1%
• Hispanic origin (detail): Mexican 33% Puerto Rican 1%
• Common ancestry: Russian 1% Italian 1% Lithuanian 1%
• Foreign-born: 46% · Canada, China, Vietnam
• Languages at home: 34% English-only · Spanish 37% Tagalog/Filipino 8% Other Indo-European 7%

Political lean MEDSL · Alameda

• 2024 margin: Solid D (+53.6) · D 74.6% · R 21.0% · Other 4.4%
• 2008→2024 swing: -5.9pp toward R · 2008: 59.5pp · 2024: 53.6pp
• All cycles: 2024: D+53.6 2020: D+62.5 2016: D+64.4 2012: D+59.8 2008: D+59.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -907.12%
• Current HPI: 315.6082
• Rent YoY: ▲ 2.58%
• Metro: San Francisco-Oakland-Berkeley, 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

+15.1% since first listed

10 events — show timeline

• 2026-06-02 Listed $189,900 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2018-12-27 Sold (MLS) $165,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2018-11-11 Pending — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2018-10-28 Price Changed $164,900 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2018-10-12 Price Changed $169,900 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2018-09-29 Price Changed $175,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2018-09-15 Listed $179,900 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2017-05-02 Sold (MLS) $157,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2017-03-29 Pending — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2017-03-23 Listed $165,000 bridgeMLS, Bay East AOR, or Contra Costa AOR