145 Dory Ln · Modesto, CA 95356

$139,000

2 bd · 2.0 ba · 1,344 sqft · Manufactured · 8 Days on market

Built 2017 Est $125k · 11% over ↓ 14% since listing

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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 +9.9/10.0
• Schools +4.4/10.0
• Livability +3.2/5.0
• ARV discount +2.5/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

CONTRACTOR/HANDYMAN PROJECT. LOCATION * LOCATION * Welcome to Dory Ln! Located in the Coralwood 55+ mobile home park in Modesto. This manufactured home is a spacious 2 bed/2bath home with an open floor plan. With a little TLC, this home will shine. Coralwood is conveniently and centrally located near shopping and amenities.

Key facts

• Updated appliances
• Ample cabinetry
• Fresh interior paint

Tags

• NEW LAMINATE FLOORING
• FRESH INTERIOR PAINT
• UPDATED APPLIANCES
• AMPLE CABINETRY
• GENEROUS COUNTER SPACE
• STAINLESS STEEL APPLIANCES

Property features AI

Finance

• Financial info: Land lease: No (land lease amount listed as $1,000)
• HOA & community: No homeowners association; Senior community

Exterior

• Parking: Attached covered garage with 1 space
• Utilities: Public water; Sewer: other; 220 volts in laundry
• Home design: Manufactured home in park; Double-wide; Built in 2017
• Construction: Composition roof; Wood skirting; Fleetwood Homes manufacturer
• Exterior features: Covered deck; Porch; Other lot features

Interior

• Kitchen: Free-standing gas range; Dishwasher; Microwave; Synthetic countertops
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms; Tub with shower over
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Cathedral/vaulted great room; Dining and living room combination; Dual-pane full windows; Covered deck and porch
• Laundry & utility: Laundry hookups inside (electric and gas hook-up); 220-volt outlet in laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $139k.

Deal economics

• At list price, monthly cash flow is $676 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Cap rate 12.1% 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+.
• Sylvan Union Elementary (urban): math 44% / reading 52% proficiency, ranked #457 of 1,400 in CA (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-0.1%/yr); 146 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $961 of loan paydown is wiped out by about $4k 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 + 0.0% rent growth), your $39k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 22y ago; this cycle's ask is 140% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $42k; list at $139k implies a 231% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: 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 $139,000

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: 1.49% ✓
• Cap rate: 12.13%
• Cash-on-cash: 20.85%
• DSCR: 1.93
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $124,992
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19 Schooner Ln	0.04mi	2/2.0	1,344 (0%)	2mo	$114,500	$85	97
195 Schooner Ln	0.06mi	2/2.0	1,322 (-2%)	4mo	$132,000	$100	91
132 Sloop	0.08mi	2/2.0	1,344 (0%)	10mo	$138,000	$103	88
67 Clipper	0.06mi	3/2.0 (+1)	1,344 (0%)	10mo	$125,000	$93	84
3 Schooner Ln	0.09mi	2/2.0	1,440 (+7%)	7mo	$118,840	$83	78
93 Schooner Ln	0.20mi	3/2.0 (+1)	1,296 (-4%)	3mo	$150,000	$116	77
30 Schooner #30	0.10mi	2/2.0	1,248 (-7%)	12mo	$117,500	$94	74
48 Clipper Ln	0.08mi	2/2.0	1,160 (-14%)	2mo	$129,000	$111	72
165 Clipper Ln	0.09mi	2/2.0	1,200 (-11%)	13mo	$105,000	$88	68
3955 Coffee #53	0.48mi	2/2.0	1,440 (+7%)	1mo	$81,900	$57	65
3955 Coffee Rd #71	0.48mi	2/2.0	1,296 (-4%)	11mo	$95,000	$73	63
4125 Mchenry Ave #71	0.54mi	2/2.0	1,200 (-11%)	9mo	$84,000	$70	50

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 9.8%
• Equity multiple: 1.37×
• Total profit: $14,498
• Equity at exit: $20,725

10-year hold

• IRR: 16.3%
• Equity multiple: 2.15×
• Total profit: $44,737
• Equity at exit: $12,018

Cash invested: $38,920 (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 95356

• Rents YoY: -0.1%
• Active inventory: 146
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $2,072 high
• Mortgage (P&I): −$729
• Tax est. 1.5%: −$174 /mo · $2,085/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$435
• Net cashflow: $676

Break-even live

Break-even rent $1,216

Max offer price $139,000

Occupancy floor 62%

Sensitivity live

Price	-10% $772	-5% $724	+0% $676	+5% $628	+10% $580
Rent	-10% $512	-5% $594	+0% $676	+5% $758	+10% $840
Rate	-1.0pp $746	-0.5pp $711	base $676	+0.5pp $640	+1.0pp $603

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3509 Dragoo Park Dr Unit 3511 Modesto, CA	3.0	2.0	1335	$1,899	$1.42	24d	1	0.46mi
939 Claremont Ct Modesto, CA	3.0	2.5	1406	$2,100	$1.49	14d	1	0.55mi
3904 Monteview Dr Unit 1 Modesto, CA	3.0	2.0	1100	$1,995	$1.81	22d	1	0.70mi
1305 Sylvan Meadows Dr Unit C Modesto, CA	2.0	1.5	1037	$2,150	$2.07	14d	1	0.76mi
3400 Coffee Rd Modesto, CA	2.0	2.0	951	$1,945	$2.05	22d	1	0.93mi
3104 Sherwood Ave Modesto, CA	2.0	1.0	820	$2,071	$2.53	14d	10	1.05mi
204 Emerson Ave Unit A Modesto, CA	3.0	1.0	1252	$2,150	$1.72	24d	1	1.08mi
3701 Colonial Dr #154 Modesto, CA	2.0	1.5	978	$1,950	$1.99	14d	1	1.22mi
1339 E Rumble Rd Modesto, CA	2.0	1.0	1150	$1,800	$1.57	14d	1	1.26mi
3445 Colonial Dr Modesto, CA	1.0–2.0	1.0	918	$2,295	$2.50	14d	10	1.29mi
200 Sheila Ct Modesto, CA	1.0–2.0	1.0–1.5	841	$1,725	$2.05	14d	1	1.34mi
2912 Niabell Pl Modesto, CA	3.0	2.0	1470	$2,700	$1.84	14d	1	1.35mi
1313 Floyd Ave Modesto, CA	1.0–2.0	1.0	800	$1,725	$2.16	14d	2	1.44mi
3401 Tully Rd Modesto, CA	2.0	2.0	1024	$2,095	$2.05	14d	2	1.49mi

Listing history 6 events

1. 2026-02-25
   soldstatus $42,000 Closed 327-char remark

   Show marketing remark (327 chars)

   CONTRACTOR/HANDYMAN PROJECT. LOCATION * LOCATION * Welcome to Dory Ln! Located in the Coralwood 55+ mobile home park in Modesto. This manufactured home is a spacious 2 bed/2bath home with an open floor plan. With a little TLC, this home will shine. Coralwood is conveniently and centrally located near shopping and amenities.

2. 2026-02-18
   status Pending 327-char remark

   Show marketing remark (327 chars)

   CONTRACTOR/HANDYMAN PROJECT. LOCATION * LOCATION * Welcome to Dory Ln! Located in the Coralwood 55+ mobile home park in Modesto. This manufactured home is a spacious 2 bed/2bath home with an open floor plan. With a little TLC, this home will shine. Coralwood is conveniently and centrally located near shopping and amenities.

3. 2025-12-30
   listed $58,000 Active 327-char remark

   Show marketing remark (327 chars)

   CONTRACTOR/HANDYMAN PROJECT. LOCATION * LOCATION * Welcome to Dory Ln! Located in the Coralwood 55+ mobile home park in Modesto. This manufactured home is a spacious 2 bed/2bath home with an open floor plan. With a little TLC, this home will shine. Coralwood is conveniently and centrally located near shopping and amenities.

4. 2005-01-13
   historical 292-char remark

   Show marketing remark (292 chars)

   Lovely mobilt in one of Modeto's nicest parks. This home has 3 bedrooms, 2 bath rooms. Great room concept with vaulted ceilings. Master bath has handicap safety bar in tub and just outside of tub. Ceiling fans throughout house. Large kitchen has one year old refridgerator and faucet at sink.

5. 2005-01-13
   soldstatus $44,000 292-char remark

   Show marketing remark (292 chars)

   Lovely mobilt in one of Modeto's nicest parks. This home has 3 bedrooms, 2 bath rooms. Great room concept with vaulted ceilings. Master bath has handicap safety bar in tub and just outside of tub. Ceiling fans throughout house. Large kitchen has one year old refridgerator and faucet at sink.

6. 2004-08-25
   listed $49,000 292-char remark

   Show marketing remark (292 chars)

   Lovely mobilt in one of Modeto's nicest parks. This home has 3 bedrooms, 2 bath rooms. Great room concept with vaulted ceilings. Master bath has handicap safety bar in tub and just outside of tub. Ceiling fans throughout house. Large kitchen has one year old refridgerator and faucet at sink.

ⓘ 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 5/10 Major
• 🌡 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 28 unhealthy d/yr today · 32 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,861
• − Mortgage interest: −$7,786
• − Property taxes: −$2,085
• − Insurance: −$695
• − Repairs & maintenance: −$1,989
• − Management: −$1,989
• − Depreciation: −$4,044
• Taxable income: $6,274
• Est. tax owed @ 24.0%: −$1,506
• After-tax cash flow: $6,608/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: Sylvan Union Elementary
• NCES district ID: 0638670
• Math proficiency: 44% ▲ 2.00%
• Reading proficiency: 52% ▬ 0.00%
• Median HH income: $61,181
• Composite: 44.28/100
• National rank: #6167
• State rank: #457 of 1400 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): 33,233
• Household income: $96,886
• Rent vs Own: 32.4% rent · 67.6% own
• Severe rent burden: 847.0

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 0.64)
• Race & ethnicity: White 50% Hispanic / Latino 32% Two or more races 16% Asian 9% Pacific Islander 2% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 28%
• Common ancestry: Russian 4% Italian 2% Iranian 2%
• Foreign-born: 17% · Canada, China, Vietnam
• Languages at home: 69% English-only · Spanish 15% Other Indo-European 6% Russian/Polish/Slavic 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: ▼ -374.73%
• Current HPI: 270.6957
• Rent YoY: ▼ -0.12%
• 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

Price history

-14.3% since first listed

6 events — show timeline

• 2026-02-25 Sold (MLS) $42,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-02-18 Pending — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-12-30 Listed $58,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2005-01-13 Sold (MLS) $44,000 MLSListings
• 2005-01-13 Listing Removed — MLSListings
• 2004-08-25 Listed $49,000 MLSListings