250 E Las Palmas Ave #35 · Patterson, CA 95363

$159,000

2 bd · 2.0 ba · 1,344 sqft · Manufactured · 3 Days on market

Built 1979 11 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.5/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Discover a delightful opportunity at 250 E Las Palmas Ave #35 in Patterson, CA. This beautifully remodeled mobile home offers the perfect blend of modern style, comfort, and convenience. Completely renovated from top to bottom, it features a brand-new kitchen, updated bathrooms, new flooring, fresh interior paint, and new windows throughout. The kitchen is a culinary enthusiast's dream, showcasing sleek new stainless steel appliances, a practical G-shaped layout, and a spacious peninsula that seamlessly connects to the living room, creating an open-concept space ideal for entertaining and everyday living. The bathroom features a refreshing walk-in shower, providing a spa-like retreat within

Key facts

• Brand new kitchen
• New flooring
• Updated bathrooms

Tags

• REMODELED MOBILE HOME
• BRAND NEW KITCHEN
• UPDATED BATHROOMS
• NEW FLOORING
• FRESH INTERIOR PAINT
• NEW WINDOWS

Property features AI

Finance

• Financial info: Land lease amount noted (monthly)
• HOA & community: No homeowners association; Land lease listed separately

Exterior

• Parking: Covered parking; Guest parking available
• Utilities: Public water; Public sewer; 220 volts available in laundry
• Home design: Manufactured in-park, double wide; Updated / remodeled; Built in 1979; Located in a senior community
• Construction: Metal skirting; Bendix Manor make
• Exterior features: Composition roof; Regular-shaped lot

Interior

• Kitchen: Built-in gas oven; Gas cook top; Dishwasher; Garbage disposal
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms with tub and separate shower stall
• Heating & cooling: Central heating; Central cooling
• Interior features: Screened-in patio; Dual-pane windows; Dining and family room combo; Living room with additional features
• Laundry & utility: Laundry inside (220V in laundry area)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $159k.

Deal economics

• At list price, monthly cash flow is $824 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $159k).
• Cap rate 12.5% vs local median 3.5% in Patterson — 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 60/100 on livability (#601 in CA) — a middle-class / working-renter tenant base. Strengths: housing A+, crime B; Watch: health & safety D+, amenities F, commute F.
• Patterson Joint Unified (town): math 19% / reading 61% proficiency, ranked #236 of 517 in CA (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Las Palmas Elementary (669 students, 80% FRL); Creekside Middle (920 students, 79% FRL); Patterson High (math 22% / reading 68%, grade D-, #425 of 1,170 statewide, top 37%, 1,888 students, 67% FRL) — zoned schools average 75% FRL vs 60% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 160 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 923 units permitted in Stanislaus County in 2024 (63 in 5+ unit buildings).
• This rent runs 31% of the median local income ($96k/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 $5k of value loss. Plan a longer hold.
• Stanislaus County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; moderate wildfire risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $159,000

Questions for the listing agent

1. Built in 1979 — 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: 1.53% ✓
• Cap rate: 12.51%
• Cash-on-cash: 22.22%
• DSCR: 1.99
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $94,080
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
250 E Las Palmas Ave #41	0.00mi	2/2.0	1,354 (+1%)	13mo	$60,000	$44	88
250 E 250 E Las Palmas Ave #81	0.00mi	2/2.0	1,440 (+7%)	5mo	$84,000	$58	84
250 E Las Palmas Ave #8	0.02mi	2/2.0	1,420 (+6%)	8mo	$115,000	$81	83
250 E Las Palmas Ave #80	0.06mi	2/2.0	1,200 (-11%)	16mo	$84,000	$70	66
250 E Las Palmas Ave #77	0.06mi	3/2.0 (+1)	1,440 (+7%)	18mo	$91,200	$63	65
250 E Las Palmas Ave #40	0.00mi	3/2.0 (+1)	1,188 (-12%)	19mo	$105,000	$88	60

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.0%
• Equity multiple: 1.60×
• Total profit: $26,770
• Equity at exit: $23,707

10-year hold

• IRR: 23.7%
• Equity multiple: 3.05×
• Total profit: $91,061
• Equity at exit: $13,747

Cash invested: $44,520 (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 95363

• Home prices YoY: -34.8%
• Active inventory: 160
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $2,434 medium
• Mortgage (P&I): −$834
• Tax est. 1.5%: −$199 /mo · $2,385/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$511
• Net cashflow: $824

Break-even live

Break-even rent $1,391

Max offer price $159,000

Occupancy floor 61%

Sensitivity live

Price	-10% $934	-5% $879	+0% $824	+5% $769	+10% $714
Rent	-10% $632	-5% $728	+0% $824	+5% $920	+10% $1,017
Rate	-1.0pp $904	-0.5pp $865	base $824	+0.5pp $783	+1.0pp $741

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
804 Eastwood Way Patterson, CA	2.0–3.0	2.0–2.5	1409	$2,550	$1.81	14d	5	1.07mi
140 Ivy Ave Unit 1545973P Patterson, CA	2.0	2.0	1140	$1,935	$1.70	18d	1	1.15mi

Listing history 3 events

1. 2026-06-21
   days on market $159,000 Active 3 DOM
2. 2026-06-18
   remarks 699-char remark
3. 2026-06-18
   listed $159,000 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 5/10 Major FEMA zone X (unshaded) · 53% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 21 unhealthy d/yr today · 23 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,211
• − Mortgage interest: −$8,906
• − Property taxes: −$2,385
• − Insurance: −$795
• − Repairs & maintenance: −$2,337
• − Management: −$2,337
• − Depreciation: −$4,625
• Taxable income: $7,826
• Est. tax owed @ 24.0%: −$1,878
• After-tax cash flow: $8,013/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: Patterson Joint Unified
• NCES district ID: 0630030
• Math proficiency: 19% ▼ -6.00%
• Reading proficiency: 61% ▲ 23.00%
• Median HH income: $55,259
• Composite: 34.82/100
• National rank: #5098
• State rank: #236 of 517 in CA

Livability — Patterson

• Score: 60/100
• State rank: #601
• US rank: #19321

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Patterson, CA
• County: Stanislaus County · 445,786 people
• City population: 30,769
• Metro: Modesto, CA
• Population (ZIP): 30,769
• Household income: $95,679
• Rent vs Own: 30.3% rent · 69.7% own
• Severe rent burden: 576.0

Population outlook (Stanislaus County) Hauer SSP2

• Today (2025): 579,493 people
• By 2030: 598,000 · +3.2%
• By 2040: 630,930 · +8.9%
• By 2050: 658,300 · +13.6%
• By 2075: 712,363 · +22.9%
• By 2100: 719,805 · +24.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (65%)
• Race & ethnicity: Hispanic / Latino 65% Two or more races 35% White 19% Asian 5% Black 4% Pacific Islander 2%
• Hispanic origin (detail): Mexican 60%
• Common ancestry: Russian 3% Italian 2% Estonian 1%
• Foreign-born: 23% · Canada, China, Vietnam
• Languages at home: 44% English-only · Spanish 49% Other Indo-European 2% Tagalog/Filipino 2%

Political lean MEDSL · Stanislaus

• 2024 margin: R (+11.0) · D 43.2% · R 54.2% · Other 2.6%
• 2008→2024 swing: -12.7pp toward R · 2008: 1.7pp · 2024: -11.0pp
• All cycles: 2024: R+11.0 2020: D+0.8 2016: D+0.6 2012: D+0.7 2008: D+1.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -151.23%
• Current HPI: 283.6929
• Rent YoY: —
• Metro: Modesto, 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