19 Dolphin Ct #19 · Half Moon Bay, CA 94019

$346,500

2 bd · 2.0 ba · 1,065 sqft · Manufactured · 137 Days on market

Built 1976 $325/sqft · 11% below area Est $389k · 11% under

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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 +23.4/30.0
• ARV discount +12.5/15.0
• DSCR +7.5/10.0
• 1% rule +6.1/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nestled at the end of a quiet cul-de-sac in the highly sought-after Canada Cove community, 19 Dolphin Court offers the perfect blend of comfort and coastal charm. This inviting home features an open floor plan with two generously sized bedrooms and two bathrooms, creating a spacious and welcoming atmosphere. Enjoy seamless indoor-outdoor living with a cozy, sunlit sunroom that opens to a private deck and outdoor space, complete with a relaxing hot tub. A large storage shed and covered parking add convenience, while the desirable west-side location provides easy access to breathtaking beaches and the legendary Coastal Trail. Surrounded by prestigious golf courses to the north and south and just moments from the Pacific Ocean, Canada Cove is truly one of a kind. This vibrant 55+ community offers exceptional amenities, including a pool, clubhouse, library, and more. Don't miss this opportunity to embrace the serene coastal lifestyle you've been dreaming of!

Key facts

• Private deck
• Hot tub
• Covered parking

Tags

• SUNLIT SUNROOM
• PRIVATE DECK
• HOT TUB
• LARGE STORAGE SHED
• COVERED PARKING
• WEST-SIDE LOCATION

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $346k.

Deal economics

• At list price, monthly cash flow is $643 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $346k).
• Recommended offer: $305k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 1.4% in Half Moon Bay — 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 77/100 on livability (#78 in CA, #2,976 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, employment A+, health & safety A+; Watch: schools C-, cost of living F.
• Cabrillo Unified (town): math 34% / reading 48% proficiency, ranked #498 of 1,400 in CA (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 78 active listings in the ZIP; high-income renter base; 1,019 units permitted in San Mateo County in 2024 (484 in 5+ unit buildings).
• This rent runs 30% of the median local income ($154k/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 $10k of value loss. Plan a longer hold.
• San Mateo County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 137 days — a 12% lower offer ($305k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 28y 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 $60k; list at $346k implies a 478% gain — meaningful room to come down on a strong offer.

Recommended offer $304,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 137 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — 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: 1.11% ✓
• Cap rate: 8.52%
• Cash-on-cash: 7.95%
• DSCR: 1.35
• GRM: 7.5

CMA / ARV

• ARV (median comp): $389,365
• List price: $346,500
• Delta: -11.01%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
32 Oceanview Ave #32	0.13mi	2/2.0	1,080 (+1%)	8mo	$410,000	$380	85
51 Sea Breeze Dr #51	0.08mi	2/2.0	1,080 (+1%)	16mo	$370,000	$343	81
14 Sea Shell #14	0.09mi	2/2.0	1,040 (-2%)	14mo	$405,000	$389	80
22 Seascape Dr #22	0.26mi	3/2.0 (+1)	1,060 (-0%)	8mo	$420,000	$396	76
7 Seashell Cir #7	0.10mi	2/1.0	980 (-8%)	4mo	$235,000	$240	74
10 Sea Shell Cir #10	0.12mi	2/2.0	1,150 (+8%)	14mo	$415,000	$361	70
3 El Paseo #3	0.22mi	2/2.0	1,152 (+8%)	12mo	$440,000	$382	66
120 Oceanview Ave #120	0.13mi	2/2.0	1,200 (+13%)	11mo	$375,000	$313	64

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: -4.2%
• Equity multiple: 0.84×
• Total profit: $-15,154
• Equity at exit: $51,664

10-year hold

• IRR: 5.5%
• Equity multiple: 1.41×
• Total profit: $39,751
• Equity at exit: $29,959

Cash invested: $97,020 (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 94019

• Active inventory: 78
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $3,845 medium
• Mortgage (P&I): −$1,817
• Tax est. 1.5%: −$433 /mo · $5,198/yr
• Insurance: −$144
• HOA: −$0
• Vacancy / Maint / Mgmt: −$807
• Net cashflow: $643

Break-even live

Break-even rent $3,031

Max offer price $346,500

Occupancy floor 78%

Sensitivity live

Price	-10% $882	-5% $762	+0% $643	+5% $523	+10% $403
Rent	-10% $339	-5% $491	+0% $643	+5% $795	+10% $946
Rate	-1.0pp $817	-0.5pp $731	base $643	+0.5pp $553	+1.0pp $462

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: $86,625
• Closing costs: $10,395
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-21
   days on market $346,500 Active 137 DOM
2. 2026-06-18
   days on market $346,500 Active 134 DOM
3. 2026-06-17
   days on market $346,500 Active 133 DOM
4. 2026-06-16
   days on market $346,500 Active 132 DOM
5. 2026-06-15
   days on market $346,500 Active 131 DOM
6. 2026-06-13
   days on market $346,500 Active 129 DOM
7. 2026-06-13
   days on market $346,500 Active 128 DOM
8. 2026-06-09
   days on market $346,500 Active 125 DOM
9. 2026-06-08
   days on market $346,500 Active 124 DOM
10. 2026-06-07
    days on market $346,500 Active 123 DOM
11. 2026-06-04
    days on market $346,500 Active 120 DOM
12. 2026-06-03
    days on market $346,500 Active 119 DOM
13. 2026-06-02
    days on market $346,500 Active 118 DOM
14. 2026-06-01
    days on market $346,500 Active 117 DOM
15. 2026-05-31
    days on market $346,500 Active 116 DOM
16. 2026-02-04
    listed $346,500 Active 968-char remark

    Show marketing remark (968 chars)

    Nestled at the end of a quiet cul-de-sac in the highly sought-after Canada Cove community, 19 Dolphin Court offers the perfect blend of comfort and coastal charm. This inviting home features an open floor plan with two generously sized bedrooms and two bathrooms, creating a spacious and welcoming atmosphere. Enjoy seamless indoor-outdoor living with a cozy, sunlit sunroom that opens to a private deck and outdoor space, complete with a relaxing hot tub. A large storage shed and covered parking add convenience, while the desirable west-side location provides easy access to breathtaking beaches and the legendary Coastal Trail. Surrounded by prestigious golf courses to the north and south and just moments from the Pacific Ocean, Canada Cove is truly one of a kind. This vibrant 55+ community offers exceptional amenities, including a pool, clubhouse, library, and more. Don't miss this opportunity to embrace the serene coastal lifestyle you've been dreaming of!

17. 2026-02-04
    listed $346,500 Active 968-char remark

    Show marketing remark (968 chars)

    Nestled at the end of a quiet cul-de-sac in the highly sought-after Canada Cove community, 19 Dolphin Court offers the perfect blend of comfort and coastal charm. This inviting home features an open floor plan with two generously sized bedrooms and two bathrooms, creating a spacious and welcoming atmosphere. Enjoy seamless indoor-outdoor living with a cozy, sunlit sunroom that opens to a private deck and outdoor space, complete with a relaxing hot tub. A large storage shed and covered parking add convenience, while the desirable west-side location provides easy access to breathtaking beaches and the legendary Coastal Trail. Surrounded by prestigious golf courses to the north and south and just moments from the Pacific Ocean, Canada Cove is truly one of a kind. This vibrant 55+ community offers exceptional amenities, including a pool, clubhouse, library, and more. Don't miss this opportunity to embrace the serene coastal lifestyle you've been dreaming of!

18. 2014-01-02
    soldstatus $60,000 Sold
19. 2013-12-06
    status Pending Without Release
20. 2013-11-12
    price $60,000
21. 2013-10-21
    price $65,000
22. 2013-10-01
    price $72,000
23. 2013-09-16
    price $74,000
24. 2013-08-30
    status Active
25. 2013-08-17
    status Contingent
26. 2013-08-10
    listed $79,000 Active
27. 2001-08-06
    historical
28. 2001-07-03
    soldstatus $110,000
29. 2001-01-17
    listed $110,000
30. 1998-03-19
    historical
31. 1998-03-12
    soldstatus $50,000
32. 1998-02-13
    listed $52,000

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥81°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 11 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $46,136
• − Mortgage interest: −$19,409
• − Property taxes: −$5,198
• − Insurance: −$1,732
• − Repairs & maintenance: −$3,691
• − Management: −$3,691
• − Depreciation: −$10,080
• Taxable income: $2,335
• Est. tax owed @ 24.0%: −$560
• After-tax cash flow: $7,152/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: Cabrillo Unified
• NCES district ID: 0606780
• Math proficiency: 34% ▼ -3.00%
• Reading proficiency: 48% ▼ -2.00%
• Median HH income: $105,943
• Composite: 43.02/100
• National rank: #6651
• State rank: #498 of 1400 in CA

Livability — Half Moon Bay

• Score: 77/100
• State rank: #78
• US rank: #2976

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Half Moon Bay, CA
• County: San Mateo County · 733,415 people
• City population: 14,419
• Metro: San Francisco-Oakland-Berkeley, CA
• Population (ZIP): 14,419
• Household income: $153,781
• Rent vs Own: 26.2% rent · 73.8% own
• Severe rent burden: 188.0

Population outlook (San Mateo County) Hauer SSP2

• Today (2025): 864,008 people
• By 2030: 910,523 · +5.4%
• By 2040: 997,285 · +15.4%
• By 2050: 1,071,189 · +24.0%
• By 2075: 1,197,206 · +38.6%
• By 2100: 1,192,523 · +38.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (62%)
• Race & ethnicity: White 62% Hispanic / Latino 30% Two or more races 19% Asian 4%
• Hispanic origin (detail): Mexican 25%
• Common ancestry: Lithuanian 5% Portuguese 4% Romanian 3%
• Foreign-born: 20% · Canada, Vietnam, China
• Languages at home: 69% English-only · Spanish 24% Other Indo-European 2% Russian/Polish/Slavic 1%

Political lean MEDSL · San Mateo

• 2024 margin: Solid D (+50.3) · D 73.5% · R 23.2% · Other 3.3%
• 2008→2024 swing: +1.6pp toward D · 2008: 48.7pp · 2024: 50.3pp
• All cycles: 2024: D+50.3 2020: D+57.7 2016: D+57.7 2012: D+44.8 2008: D+48.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -983.61%
• Current HPI: 299.1885
• Rent YoY: —
• 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

+566.3% since first listed

17 events — show timeline

• 2026-02-04 Listed $346,500 MLSListings
• 2026-02-04 Listed $346,500 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2014-01-02 Sold (MLS) $60,000 MLSListings
• 2013-12-06 Pending — MLSListings
• 2013-11-12 Price Changed $60,000 MLSListings
• 2013-10-21 Price Changed $65,000 MLSListings
• 2013-10-01 Price Changed $72,000 MLSListings
• 2013-09-16 Price Changed $74,000 MLSListings
• 2013-08-30 Relisted — MLSListings
• 2013-08-17 Pending — MLSListings
• 2013-08-10 Listed $79,000 MLSListings
• 2001-08-06 Listing Removed — MLSListings
• 2001-07-03 Sold (MLS) $110,000 MLSListings
• 2001-01-17 Listed $110,000 MLSListings
• 1998-03-19 Listing Removed — MLSListings
• 1998-03-12 Sold (MLS) $50,000 MLSListings
• 1998-02-13 Listed $52,000 MLSListings