51 Quinta Ct

Templeton, CA 93446

$315,500D+

3 bd · 2.0 ba · 1,296 sqft · Built 2007 · Manufactured · Active · 121 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,097/mo
• Mortgage (P&I): −$1,655
• Tax + insurance: −$526
• HOA: −$0
• Vac / Maint / Mgmt: −$650
• Net cashflow: $266/mo
• Annual: $3,192/yr
• Cap rate: 7.30%
• Cash-on-cash: 3.61%
• DSCR: 1.16
• 1% rule: 0.98%
• Cash to close: $88,340

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $316k.
• At list price, monthly cash flow is $266 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $310k (1.8% below list).
• It's been on market 121 days — a 12% lower offer ($278k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $278k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#166 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, health & safety A+; Watch: amenities F, cost of living F.
• Templeton Unified (suburban): math 35% / reading 69% proficiency, ranked #116 of 517 in CA (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: Templeton Elementary (434 students, 24% FRL); Templeton Middle (math 24% / reading 75%, grade C, #98 of 498 statewide, top 21%, 475 students, 18% FRL); Templeton High (math 42% / reading 77%, grade C+, #205 of 1,170 statewide, top 19%, 775 students, 18% FRL) — zoned schools at 20% FRL track the district average.
• Market conditions: Rents soft (-1.2%/yr); 310 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,104 units permitted in San Luis Obispo County in 2024 (273 in 5+ unit buildings).
• San Luis Obispo County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 sale attempts since 23y 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 $237k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.3% vs local median 1.1% in Templeton — 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.
• This rent runs 38% of the median local income ($98k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 121 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.
• 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.
• 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.