1500 Held Dr #94 · Modesto, CA 95355

$95,999

2 bd · 2.0 ba · 1,152 sqft · Manufactured · 18 Days on market

Built 1987 Est $92k · at est.

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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 +5.6/15.0
• Livability +3.2/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Delightful 2 bed/ 2 bath home! Meticulously maintained and exceptionally clean. Offers 1052 sq ft of comfort and style. You will find a spacious layout. Cozy Living room with Open Beam Ceiling and Beautiful Windows. Sunny and Bright Kitchen with Cabinet Pantry, Shaker Cabinets and Breakfast Nook. Quaint Dining Area. Generously Sized Bedrooms with large closets and overhead shelving. Updated Bathrooms with New Vanities and Quick Flush Toilets. Hall Bath has a Double Walk-In Shower for easy access and safety. A Sunken Tub for Ultimate Relaxation. Laundry room with cabinets. Newer Vinyl Plank Wood Flooring thru out the home. Small Backyard area lined with Hedges for Privacy/Shade/BBQ or Coff

Key facts

• Breakfast nook
• Cabinet pantry
• Open beam ceiling

Tags

• OPEN BEAM CEILING
• CABINET PANTRY
• SHAKER CABINETS
• BREAKFAST NOOK
• DOUBLE WALK-IN SHOWER
• SUNKEN TUB

Property features AI

Finance

• Financial info: Land lease amount: $900
• HOA & community: No homeowners association; Located in a senior community; Land lease: No (land lease amount listed separately)

Exterior

• Parking: Guest parking available
• Utilities: Private water; Private sewer; Individual electric meter; Individual gas meter
• Home design: Manufactured home in park (double wide); Built in 1987
• Construction: Aluminum skirting; Shingle / composition roof
• Exterior features: Carport awning; Storage shed(s); Close to clubhouse

Interior

• Kitchen: Free standing gas range; Free standing gas oven; Free standing refrigerator; Dishwasher; Garbage disposal
• Bedrooms: 2 bedrooms
• Bathrooms: 2 full bathrooms; Sunken tub; Low-flow toilets; Tub with shower over; Shower stall(s)
• Heating & cooling: Central heating; Central air conditioning; Ceiling fans
• Interior features: Cathedral/vaulted living room ceiling; Covered patio with railings and porch steps; Pantry cabinet; Ceramic kitchen counters; Breakfast nook / dining-living combo; Pets allowed (cats and dogs, size and number limits apply)
• Laundry & utility: Laundry room inside; 220V outlet in laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $96k.

Deal economics

• At list price, monthly cash flow is $958 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $96k).
• Recommended offer: $95k (1.5% below list) — sets the bar for market timing.
• Cap rate 18.3% vs local median 3.2% in Modesto — 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 63/100 on livability (#451 in CA) — a middle-class / working-renter tenant base. Strengths: housing A+; Watch: amenities C-, schools D+, health & safety D+.
• Empire Union Elementary (suburban): math 25% / reading 25% proficiency, ranked #398 of 517 in CA (top 77%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+1.3%/yr); 226 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $663 of loan paydown is wiped out by about $3k 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 + 1.3% rent growth), your $27k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($95k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major 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 $94,559 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
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: 2.14% ✓
• Cap rate: 18.27%
• Cash-on-cash: 42.77%
• DSCR: 2.90
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $92,160
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1500 Held Dr #90	0.09mi	2/2.0	1,129 (-2%)	6mo	$121,900	$108	87
1500 Held Dr #124	0.00mi	3/2.0 (+1)	1,152 (0%)	11mo	$84,900	$74	86
1500 Held Dr #83	0.00mi	2/2.0	1,152 (0%)	20mo	$91,000	$79	83
1500 Held Dr #137	0.00mi	3/2.0 (+1)	1,100 (-4%)	7mo	$60,000	$55	82
4400 Spartans Ln	0.18mi	3/2.0 (+1)	1,152 (0%)	6mo	$111,800	$97	81
1500 Held Dr #135	0.09mi	2/2.0	1,248 (+8%)	8mo	$100,000	$80	76
1517 Panthers Ln	0.16mi	3/2.0 (+1)	1,248 (+8%)	11mo	$111,000	$89	64
1500 Held Dr #81	0.00mi	3/2.0 (+1)	1,323 (+15%)	8mo	$50,000	$38	64
4405 S Raiders Way #91	0.20mi	3/2.0 (+1)	1,206 (+5%)	22mo	$177,000	$147	59
4404 Trojans Way	0.24mi	3/2.0 (+1)	1,230 (+7%)	20mo	$208,000	$169	56
1441 Playground Way	0.17mi	3/2.0 (+1)	1,300 (+13%)	16mo	$80,000	$62	52

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 · 1.28% rent growth · sell at horizon

5-year hold

• IRR: 37.6%
• Equity multiple: 2.56×
• Total profit: $42,005
• Equity at exit: $14,314

10-year hold

• IRR: 43.3%
• Equity multiple: 4.77×
• Total profit: $101,435
• Equity at exit: $8,300

Cash invested: $26,880 (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 95355

• Rents YoY: 1.3%
• Active inventory: 226
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $2,053 medium
• Mortgage (P&I): −$503
• Tax est. 1.5%: −$120 /mo · $1,440/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$431
• Net cashflow: $958

Break-even live

Break-even rent $840

Max offer price $95,999

Occupancy floor 48%

Sensitivity live

Price	-10% $1,024	-5% $991	+0% $958	+5% $925	+10% $892
Rent	-10% $796	-5% $877	+0% $958	+5% $1,039	+10% $1,120
Rate	-1.0pp $1,006	-0.5pp $983	base $958	+0.5pp $933	+1.0pp $908

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: $24,000
• Closing costs: $2,880
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1108 Cedar Creek Dr #1 Modesto, CA	2.0	2.0	1064	$1,999	$1.88	15d	1	0.91mi
1500 Lakewood Ave Modesto, CA	1.0–2.0	1.0–2.0	820	$1,900	$2.32	15d	7	1.43mi

Listing history 12 events

1. 2026-06-21
   days on market $95,999 Active 18 DOM
2. 2026-06-18
   days on market $95,999 Active 15 DOM
3. 2026-06-17
   days on market $95,999 Active 14 DOM
4. 2026-06-16
   days on market $95,999 Active 13 DOM
5. 2026-06-15
   days on market $95,999 Active 12 DOM
6. 2026-06-14
   days on market $95,999 Active 10 DOM
7. 2026-06-10
   days on market $95,999 Active 7 DOM
8. 2026-06-09
   days on market $95,999 Active 6 DOM
9. 2026-06-08
   days on market $95,999 Active 5 DOM
10. 2026-06-07
    days on market $95,999 Active 4 DOM
11. 2026-06-03
    remarks 699-char remark
12. 2026-06-03
    listed $95,999 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 7/10 Severe 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 36 unhealthy d/yr today · 39 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,631
• − Mortgage interest: −$5,377
• − Property taxes: −$1,440
• − Insurance: −$480
• − Repairs & maintenance: −$1,970
• − Management: −$1,970
• − Depreciation: −$2,793
• Taxable income: $10,600
• Est. tax owed @ 24.0%: −$2,544
• After-tax cash flow: $8,953/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: Empire Union Elementary
• NCES district ID: 0612690
• Math proficiency: 25% ▼ -6.00%
• Reading proficiency: 25% ▼ -14.00%
• Median HH income: $49,808
• Composite: 22.05/100
• National rank: #8193
• State rank: #398 of 517 in CA

Livability — Modesto

• Score: 63/100
• State rank: #451
• US rank: #15229

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Modesto, CA
• County: Stanislaus County · 445,786 people
• City population: 225,261
• Metro: Modesto, CA
• Population (ZIP): 60,710
• Household income: $86,849
• Rent vs Own: 37.7% rent · 62.3% own
• Severe rent burden: 2521.0

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: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 48% Hispanic / Latino 33% Two or more races 18% Asian 8% Black 4% Native American 1%
• Hispanic origin (detail): Mexican 29% Puerto Rican 2%
• Common ancestry: Russian 3% Italian 3% Lithuanian 2%
• Foreign-born: 15% · Canada, China, Vietnam
• Languages at home: 73% English-only · Spanish 16% Other Indo-European 4% Tagalog/Filipino 1%

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: ▼ -458.02%
• Current HPI: 277.8565
• Rent YoY: ▲ 1.28%
• 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