43 Seascape Dr #43 · Half Moon Bay, CA 94019

$465,000

2 bd · 2.0 ba · 1,440 sqft · Manufactured · 78 Days on market

Built 1984 $323/sqft · 9% above area Est $427k · 9% over

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Why this score? — see what drove the D- 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 +14.6/30.0
• DSCR +4.5/10.0
• Schools +4.3/10.0
• 1% rule +4.1/10.0
• Livability +3.9/5.0
• ARV discount +3.5/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home has been beautifully cared for, updated and move-in ready for its next owners. This 2-bed, 2-bath, 1440 sq ft home is situated on a large sun-soaked lot with an expansive deck to enjoy the warmth (southwest exposure). A side-by-side carport allows for ease and space. A storage shed and low maintenance, paved yard make the home perfect for both indoor & outdoor entertaining. Once inside you'll be welcomed in by the grand living area, with vaulted ceilings w/ decorative exposed beam, dining area with a built-in hutch, situated across from the newly renovated open-concept kitchen equipped with dining bar and ample storage. Two primary bedrooms: east side primary includes an updated bathroom en-suite offering a soaker tub, skylight, shower, toilet & vanity area; a closet of your dreams completes the room. The west side primary bedroom offers an equally large closet and spacious room facing the backyard and all sunshine. The bathroom has been updated and features a large shower and pretty vanity; it is a pass-through into the large laundry room with side-by-side washer and dryer.

Key facts

• Grand living area
• Side-by-side carport
• Storage shed

Tags

• LARGE SUN-SOAKED LOT
• EXPANSIVE DECK
• SIDE-BY-SIDE CARPORT
• STORAGE SHED
• LOW MAINTENANCE PAVED YARD
• GRAND LIVING AREA

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $465k.

Deal economics

• At list price, monthly cash flow is $114 ($1k/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 $421k (9.4% below list).
• Recommended offer: $421k (9.4% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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: 76 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 33% 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 $3k of loan paydown is wiped out by about $14k 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 78 days — a 6% lower offer ($437k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 18y 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 $128k; list at $465k implies a 265% gain — meaningful room to come down on a strong offer.

Recommended offer $421,167 (9.4% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.91% ✗
• Cap rate: 6.59%
• Cash-on-cash: 1.05%
• DSCR: 1.05
• GRM: 9.2

CMA / ARV

• ARV (median comp): $426,796
• List price: $465,000
• Delta: 8.95%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8 Coral Way #8	0.13mi	2/2.0	1,440 (0%)	3mo	$255,000	$177	91
22 Sea Breeze Dr #22	0.20mi	2/2.0	1,440 (0%)	8mo	$260,000	$181	84
14 Driftwood Trl #14	0.12mi	2/2.0	1,536 (+7%)	3mo	$465,000	$303	81
84 Creekside #84	0.17mi	3/2.0 (+1)	1,424 (-1%)	6mo	$510,000	$358	80
10 Coral Way #10	0.14mi	3/2.0 (+1)	1,530 (+6%)	5mo	$610,000	$399	74
3 Lighthouse Rd #03	0.32mi	2/2.0	1,344 (-7%)	0mo	$460,000	$342	74
37 Oceanview Ave #37	0.28mi	2/2.0	1,344 (-7%)	3mo	$525,000	$391	73
10 Sunset Ter #10	0.32mi	2/2.0	1,392 (-3%)	9mo	$475,000	$341	72
3 Coral Way #3	0.16mi	3/2.0 (+1)	1,344 (-7%)	9mo	$510,000	$379	69
106 Ocean Vw #106	0.20mi	2/1.5	1,296 (-10%)	5mo	$375,000	$289	68
23 Sea Breeze Dr #23	0.20mi	3/2.0 (+1)	1,240 (-14%)	3mo	$440,000	$355	60
15 Dolphin Ct #15	0.24mi	2/2.0	1,650 (+15%)	8mo	$520,000	$315	58

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: -14.6%
• Equity multiple: 0.48×
• Total profit: $-68,044
• Equity at exit: $69,333

10-year hold

• IRR: -5.9%
• Equity multiple: 0.62×
• Total profit: $-49,668
• Equity at exit: $40,205

Cash invested: $130,200 (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: 76
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $4,212 medium
• Mortgage (P&I): −$2,439
• Tax est. 1.5%: −$581 /mo · $6,975/yr
• Insurance: −$194
• HOA: −$0
• Vacancy / Maint / Mgmt: −$884
• Net cashflow: $114

Break-even live

Break-even rent $4,068

Max offer price $465,000

Occupancy floor 92%

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: $116,250
• Closing costs: $13,950
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-18
   days on market $465,000 Active 78 DOM
2. 2026-06-17
   days on market $465,000 Active 77 DOM
3. 2026-06-16
   days on market $465,000 Active 76 DOM
4. 2026-06-15
   days on market $465,000 Active 75 DOM
5. 2026-06-13
   days on market $465,000 Active 73 DOM
6. 2026-06-13
   days on market $465,000 Active 72 DOM
7. 2026-06-10
   price $465,000 Active 69 DOM
8. 2026-06-09
   days on market $475,000 Active 69 DOM
9. 2026-06-08
   days on market $475,000 Active 68 DOM
10. 2026-06-07
    days on market $475,000 Active 67 DOM
11. 2026-06-04
    days on market $475,000 Active 64 DOM
12. 2026-06-03
    days on market $475,000 Active 63 DOM
13. 2026-06-02
    days on market $475,000 Active 62 DOM
14. 2026-06-01
    days on market $475,000 Active 61 DOM
15. 2026-05-31
    days on market $475,000 Active 60 DOM
16. 2026-04-01
    listed $475,000 Active 1109-char remark

    Show marketing remark (1109 chars)

    This home has been beautifully cared for, updated and move-in ready for its next owners. This 2-bed, 2-bath, 1440 sq ft home is situated on a large sun-soaked lot with an expansive deck to enjoy the warmth (southwest exposure). A side-by-side carport allows for ease and space. A storage shed and low maintenance, paved yard make the home perfect for both indoor & outdoor entertaining. Once inside you'll be welcomed in by the grand living area, with vaulted ceilings w/ decorative exposed beam, dining area with a built-in hutch, situated across from the newly renovated open-concept kitchen equipped with dining bar and ample storage. Two primary bedrooms: east side primary includes an updated bathroom en-suite offering a soaker tub, skylight, shower, toilet & vanity area; a closet of your dreams completes the room. The west side primary bedroom offers an equally large closet and spacious room facing the backyard and all sunshine. The bathroom has been updated and features a large shower and pretty vanity; it is a pass-through into the large laundry room with side-by-side washer and dryer.

17. 2026-04-01
    listed $475,000 Active 1109-char remark

    Show marketing remark (1109 chars)

    This home has been beautifully cared for, updated and move-in ready for its next owners. This 2-bed, 2-bath, 1440 sq ft home is situated on a large sun-soaked lot with an expansive deck to enjoy the warmth (southwest exposure). A side-by-side carport allows for ease and space. A storage shed and low maintenance, paved yard make the home perfect for both indoor & outdoor entertaining. Once inside you'll be welcomed in by the grand living area, with vaulted ceilings w/ decorative exposed beam, dining area with a built-in hutch, situated across from the newly renovated open-concept kitchen equipped with dining bar and ample storage. Two primary bedrooms: east side primary includes an updated bathroom en-suite offering a soaker tub, skylight, shower, toilet & vanity area; a closet of your dreams completes the room. The west side primary bedroom offers an equally large closet and spacious room facing the backyard and all sunshine. The bathroom has been updated and features a large shower and pretty vanity; it is a pass-through into the large laundry room with side-by-side washer and dryer.

18. 2012-05-25
    historical 395-char remark

    Show marketing remark (395 chars)

    This is a 55+ age park features: pool, spa, exercise room, activities, public transportation. Light and spacious home, vaulted ceilings in main living area, breakfast bar. Two master suites w/ huge walk-in closets, skylights, ceiling fans, newer appliances. Side by side covered parking area. Two sheds, and dog run area. Large open porch sit and enjoy your morning coffee or afternoon cocktail.

19. 2012-05-25
    soldstatus $127,500 Sold 395-char remark

    Show marketing remark (395 chars)

    This is a 55+ age park features: pool, spa, exercise room, activities, public transportation. Light and spacious home, vaulted ceilings in main living area, breakfast bar. Two master suites w/ huge walk-in closets, skylights, ceiling fans, newer appliances. Side by side covered parking area. Two sheds, and dog run area. Large open porch sit and enjoy your morning coffee or afternoon cocktail.

20. 2012-05-11
    status Pending Without Release 395-char remark

    Show marketing remark (395 chars)

    This is a 55+ age park features: pool, spa, exercise room, activities, public transportation. Light and spacious home, vaulted ceilings in main living area, breakfast bar. Two master suites w/ huge walk-in closets, skylights, ceiling fans, newer appliances. Side by side covered parking area. Two sheds, and dog run area. Large open porch sit and enjoy your morning coffee or afternoon cocktail.

21. 2011-12-06
    price $135,000 395-char remark

    Show marketing remark (395 chars)

    This is a 55+ age park features: pool, spa, exercise room, activities, public transportation. Light and spacious home, vaulted ceilings in main living area, breakfast bar. Two master suites w/ huge walk-in closets, skylights, ceiling fans, newer appliances. Side by side covered parking area. Two sheds, and dog run area. Large open porch sit and enjoy your morning coffee or afternoon cocktail.

22. 2011-10-30
    price $150,000 395-char remark

    Show marketing remark (395 chars)

    This is a 55+ age park features: pool, spa, exercise room, activities, public transportation. Light and spacious home, vaulted ceilings in main living area, breakfast bar. Two master suites w/ huge walk-in closets, skylights, ceiling fans, newer appliances. Side by side covered parking area. Two sheds, and dog run area. Large open porch sit and enjoy your morning coffee or afternoon cocktail.

23. 2011-09-12
    listed $165,000 Active 395-char remark

    Show marketing remark (395 chars)

    This is a 55+ age park features: pool, spa, exercise room, activities, public transportation. Light and spacious home, vaulted ceilings in main living area, breakfast bar. Two master suites w/ huge walk-in closets, skylights, ceiling fans, newer appliances. Side by side covered parking area. Two sheds, and dog run area. Large open porch sit and enjoy your morning coffee or afternoon cocktail.

24. 2008-06-27
    soldstatus $149,900
25. 2008-05-31
    historical
26. 2008-05-12
    listed $149,900

ⓘ 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: $50,540
• − Mortgage interest: −$26,047
• − Property taxes: −$6,975
• − Insurance: −$2,325
• − Repairs & maintenance: −$4,043
• − Management: −$4,043
• − Depreciation: −$13,527
• Taxable loss: −$6,421
• Est. tax savings @ 24.0%: +$1,541
• After-tax cash flow: $2,906/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

+216.9% since first listed

11 events — show timeline

• 2026-04-01 Listed $475,000 MLSListings
• 2026-04-01 Listed $475,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2012-05-25 Listing Removed — MLSListings
• 2012-05-25 Sold (MLS) $127,500 MLSListings
• 2012-05-11 Pending — MLSListings
• 2011-12-06 Price Changed $135,000 MLSListings
• 2011-10-30 Price Changed $150,000 MLSListings
• 2011-09-12 Listed $165,000 MLSListings
• 2008-06-27 Sold (MLS) $149,900 MLSListings
• 2008-05-31 Listing Removed — MLSListings
• 2008-05-12 Listed $149,900 MLSListings