433 Sylvan Ave #51

Mountain View, CA 94041

$419,000B

3 bd · 2.0 ba · 1,710 sqft · Built 2002 · Manufactured · Active · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,027/mo
• Mortgage (P&I): −$2,197
• Tax + insurance: −$698
• HOA: −$0
• Vac / Maint / Mgmt: −$1,056
• Net cashflow: $1,076/mo
• Annual: $12,910/yr
• Cap rate: 9.37%
• Cash-on-cash: 11.00%
• DSCR: 1.49
• 1% rule: 1.20%
• Cash to close: $117,320

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $419k.
• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $419k).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-1.1%/yr); year-one equity from $3k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 84/100 on livability (#14 in CA, #671 nationally) — a professional / high-income tenant draw. Strengths: schools A+, amenities A+, commute A+; Watch: crime D+, cost of living F.
• Mountain View-Los Altos Union High (urban): math 77% / reading 86% proficiency, ranked #11 of 517 in CA (top 2%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: Rents rising (+3.4%/yr); 23 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 3,838 units permitted in Santa Clara County in 2024 (1,886 in 5+ unit buildings).
• Santa Clara County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 6 sale attempts since 15y ago; this cycle's ask is 25% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $322k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-1.1% appreciation + 3.4% rent growth), your $117k cash investment doubles in ~7 years — after that, you're playing with house money.
• Cap rate 9.4% vs local median 1.4% in Mountain View — 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 34% of the median local income ($179k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-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?
• Crime grade is D 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?
• 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.