1400 W Marlette St #34 · Ione, CA 95640

$209,000

3 bd · 2.0 ba · 2,400 sqft · Manufactured public records · 83 Days on market

Built 2021 Good condition 4,356 sqft lot $87/sqft · 13% below area Est $150k · 39% over

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Why this score? — see what drove the C 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 +7.5/10.0
• Condition / age +4.0/5.0
• Livability +3.1/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

This spectacular three bedroom, two bath home is the newest in the desirable Castle Village. And have had only one owner, this home truly stands out! The open-concept main living area offers a modern yet warm feel, featuring stainless steel appliances, quartz counters in the kitchen and bathrooms, and a layout perfect for everyday living and entertaining. Both the front and back yards include high-grade artificial turf for low maintenance outdoor enjoyment. An extra parking pad in front provides a convenient space for additional vehicles or guest parking. Inside you'll find generously sized bedrooms and a larger kitchen with walk in pantry. The primary suite offers a walk-in closet (not acc

Key facts

• Extra parking pad
• Quartz counters
• Walk-in closet

Tags

• OPEN-CONCEPT MAIN LIVING AREA
• STAINLESS STEEL APPLIANCES
• QUARTZ COUNTERS
• DEDICATED LAUNDRY ROOM
• WALK-IN CLOSET
• EXTRA PARKING PAD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $209k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $781 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $209k).
• Recommended offer: $196k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.8% vs local median 3.3% in Ione — 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 62/100 on livability (#490 in CA) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A-, crime B+; Watch: schools F, amenities F, commute F.
• Amador County Unified (town): math 23% / reading 37% proficiency, ranked #330 of 517 in CA (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 119 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 66 units permitted in Amador County in 2024 (0 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.
• Amador County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $59k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($196k) is reasonable based on typical stale-listing flexibility.

Recommended offer $196,460 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% 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. 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. 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: 1.25% ✓
• Cap rate: 10.77%
• Cash-on-cash: 16.01%
• DSCR: 1.71
• GRM: 6.7

CMA / ARV

• ARV (median comp): $150,002
• List price: $209,000
• Delta: 39.33%
• Verdict: OVERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1400 W Marlette St #1	0.00mi	3/2.0	2,400 (0%)	5mo	$217,000	$90	96
1400 W Marlette St #10	0.00mi	3/2.0	2,080 (-13%)	12mo	$225,000	$108	68

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: 6.9%
• Equity multiple: 1.27×
• Total profit: $15,794
• Equity at exit: $31,163

10-year hold

• IRR: 16.2%
• Equity multiple: 2.33×
• Total profit: $77,541
• Equity at exit: $18,071

Cash invested: $58,520 (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 95640

• Active inventory: 119
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,617 medium
• Mortgage (P&I): −$1,096
• Tax from tax record: −$104 /mo · $1,247/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$550
• Net cashflow: $781

Break-even live

Break-even rent $1,629

Max offer price $209,000

Occupancy floor 65%

Sensitivity live

Price	-10% $899	-5% $840	+0% $781	+5% $721	+10% $662
Rent	-10% $574	-5% $677	+0% $781	+5% $884	+10% $987
Rate	-1.0pp $886	-0.5pp $834	base $781	+0.5pp $726	+1.0pp $671

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: $52,250
• Closing costs: $6,270
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
303 Pelican Hill Ct Ione, CA	4.0	2.0	1877	$2,600	$1.39	44d	1	0.40mi
107 Ashworth Dr Ione, CA	3.0	2.0	1671	$2,495	$1.49	4d	1	0.46mi
664 Morning Glory Cir Ione, CA	4.0	2.5	2018	$2,975	$1.47	4d	1	1.38mi

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $1,247 · $104/mo
• Projected year-2 tax: $1,588 · $132/mo
• Expected delta: +$342/yr (+$28/mo · 27.4%)

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

Taxation est. · year 1

• Rental income: $31,407
• − Mortgage interest: −$11,707
• − Property taxes: −$1,247
• − Insurance: −$1,045
• − Repairs & maintenance: −$2,513
• − Management: −$2,513
• − Depreciation: −$6,080
• Taxable income: $6,303
• Est. tax owed @ 24.0%: −$1,513
• After-tax cash flow: $7,855/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

Good 80/100 Cosmetic rehab

This move-in-ready three-bedroom home in Castle Village offers a modern design with stainless steel appliances and quartz countertops, making it an attractive option for both resale and rental markets.

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Resale Replace countertops with quartz or granite — Quartz countertops are durable and add value
• Both Install smart home devices — Smart home devices improve convenience and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Resale Replace countertops with quartz or granite — Quartz countertops are durable and add value ↑
• Both Install smart home devices — Smart home devices improve convenience and energy efficiency ↑

ⓘ 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: Amador County Unified
• NCES district ID: 0602450
• Math proficiency: 23% ▼ -9.00%
• Reading proficiency: 37% ▼ -10.00%
• Median HH income: $55,428
• Composite: 26.67/100
• National rank: #7163
• State rank: #330 of 517 in CA

Livability — Ione

• Score: 62/100
• State rank: #490
• US rank: #16616

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ione, CA
• City population: 12,811
• Population (ZIP): 12,811

Population outlook (Amador County) Hauer SSP2

• Today (2025): 35,295 people
• By 2030: 34,147 · -3.3%
• By 2040: 31,618 · -10.4%
• By 2050: 29,913 · -15.2%
• By 2075: 27,308 · -22.6%
• By 2100: 23,465 · -33.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 21% Two or more races 17% Black 4% Native American 2%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Italian 3% Slovak 3% Romanian 2%
• Foreign-born: 7% · Canada
• Languages at home: 85% English-only · Spanish 11% Arabic 2%

Political lean MEDSL · Amador

• 2024 margin: Strong R (+27.8) · D 34.7% · R 62.6% · Other 2.7%
• 2008→2024 swing: -13.2pp toward R · 2008: -14.6pp · 2024: -27.8pp
• All cycles: 2024: R+27.8 2020: R+24.4 2016: R+25.2 2012: R+19.0 2008: R+14.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -144.63%
• Current HPI: 169.9705
• 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

Property tax history

+3.0%/yr

Latest (2025): $1,247 · +2.0% YoY. Source: county tax records.