700 E Gobbi St E #96 · Ukiah, CA 95482

$128,000

2 bd · 1.0 ba · 768 sqft · Manufactured · 155 Days on market

Built 1973 $167/sqft · 132% above area

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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 +7.5/15.0
• Rent growth +4.0/5.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Experience modern comfort in this completely remodeled 2-bedroom, 1-bath, 768 sq ft home in the serene 55+ Manor Oaks Mobile Estates. Thoughtful upgrades include brand new electrical, plumbing, and flooring throughout, plus new cabinets, new appliances, and elegant white quartz countertops. The interior boasts fresh textured paint and a bright contemporary aesthetic. The kitchen and bathroom were taken down to the studs and rebuilt with beautiful, durable finishes. All new windows and freshly painted exterior. Stay comfortable year-round with a newly installed mini split heating and cooling system. The exterior is equally practical, featuring awnings on both sides for shade, weather protection, and enhanced outdoor usability, don't pass up this opportunity in a clean and well-kept community that provides park amenities such as a pool, clubhouse, free fitness classes, free water aerobics classes and fun holiday events and potlucks.

Key facts

• Completely remodeled
• New cabinets
• New appliances

Tags

• COMPLETELY REMODELED
• BRAND NEW ELECTRICAL
• NEW CABINETS
• NEW APPLIANCES
• WHITE QUARTZ COUNTERTOPS
• FRESH TEXTURED PAINT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $128k.

Deal economics

• At list price, monthly cash flow is $508 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $128k).
• Recommended offer: $113k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.1% vs local median 3.0% in Ukiah — 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 64/100 on livability (#425 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, health & safety A+; Watch: schools C-, employment D, crime D-.
• Ukiah Unified (town): math 24% / reading 37% proficiency, ranked #1,018 of 1,400 in CA (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.1%/yr); 153 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 8 units permitted in Mendocino County in 2024 (0 in 5+ unit buildings).
• This rent runs 37% of the median local income ($70k/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 $885 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Mendocino County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 6.1% rent growth), your $36k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 155 days — a 12% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y ago; this cycle's ask has dropped $7k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $18k; list at $128k implies a 612% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wildfire risk; extreme-heat days projected 6→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $112,640 (12.0% below list)

Questions for the listing agent

1. It's been on market 155 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.69% ✓
• Cap rate: 15.05%
• Cash-on-cash: 31.29%
• DSCR: 2.39
• GRM: 4.9

CMA / ARV

• ARV (median comp): $55,172
• List price: $128,000
• Delta: 132.00%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
700 E Gobbi St #37	0.00mi	2/1.0	742 (-3%)	6mo	$43,700	$59	90
700 E Gobbi St #9	0.00mi	2/1.0	750 (-2%)	12mo	$54,500	$73	86
660 Leslie St #60	0.39mi	2/1.5	750 (-2%)	1mo	$57,500	$77	75
700 E Gobbi St #80	0.05mi	2/1.0	840 (+9%)	9mo	$65,000	$77	75
660 Leslie St #48	0.41mi	2/2.0	784 (+2%)	6mo	$56,000	$71	68
700 E Gobbi St #34	0.02mi	2/1.0	672 (-12%)	18mo	$48,500	$72	63

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 · 6.07% rent growth · sell at horizon

5-year hold

• IRR: 12.5%
• Equity multiple: 1.52×
• Total profit: $18,709
• Equity at exit: $19,085

10-year hold

• IRR: 24.2%
• Equity multiple: 3.48×
• Total profit: $88,888
• Equity at exit: $11,067

Cash invested: $35,840 (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 95482

• Rents YoY: 6.1%
• Active inventory: 153
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $2,157 medium
• Mortgage (P&I): −$671
• Tax from tax record: −$45 /mo · $541/yr
• Insurance: −$53
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$453
• Net cashflow: $508

Break-even live

Break-even rent $1,514

Max offer price $128,000

Occupancy floor 71%

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: $32,000
• Closing costs: $3,840
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
705 El Rio St Unit D Ukiah, CA	3.0	1.5	1000	$2,195	$2.19	43d	1	0.16mi
314 Cooper Ln Ukiah, CA	2.0	1.0	660	$1,750	$2.65	43d	1	0.45mi

Listing history 21 events

1. 2026-06-19
   days on market $128,000 Active 155 DOM
2. 2026-06-18
   days on market $128,000 Active 154 DOM
3. 2026-06-17
   days on market $128,000 Active 153 DOM
4. 2026-06-16
   days on market $128,000 Active 152 DOM
5. 2026-06-15
   days on market $128,000 Active 151 DOM
6. 2026-06-14
   days on market $128,000 Active 149 DOM
7. 2026-06-12
   pricedays on market $128,000 Active 148 DOM
8. 2026-06-09
   days on market $135,000 Active 145 DOM
9. 2026-06-08
   days on market $135,000 Active 144 DOM
10. 2026-06-07
    days on market $135,000 Active 143 DOM
11. 2026-06-05
    days on market $135,000 Active 140 DOM
12. 2026-06-03
    days on market $135,000 Active 139 DOM
13. 2026-06-02
    days on market $135,000 Active 138 DOM
14. 2026-06-01
    days on market $135,000 Active 137 DOM
15. 2026-05-31
    days on market $135,000 Active 136 DOM
16. 2026-05-30
    days on market $135,000 Active 135 DOM
17. 2026-01-15
    listed $135,000 Active 944-char remark

    Show marketing remark (944 chars)

    Experience modern comfort in this completely remodeled 2-bedroom, 1-bath, 768 sq ft home in the serene 55+ Manor Oaks Mobile Estates. Thoughtful upgrades include brand new electrical, plumbing, and flooring throughout, plus new cabinets, new appliances, and elegant white quartz countertops. The interior boasts fresh textured paint and a bright contemporary aesthetic. The kitchen and bathroom were taken down to the studs and rebuilt with beautiful, durable finishes. All new windows and freshly painted exterior. Stay comfortable year-round with a newly installed mini split heating and cooling system. The exterior is equally practical, featuring awnings on both sides for shade, weather protection, and enhanced outdoor usability, don't pass up this opportunity in a clean and well-kept community that provides park amenities such as a pool, clubhouse, free fitness classes, free water aerobics classes and fun holiday events and potlucks.

18. 2014-11-03
    soldstatus $17,990 206-char remark

    Show marketing remark (206 chars)

    Move in ready! Nicely updated doublewide 2 bedroom, 1 bath unit in senior park has been very well maintained. Must see to appreciate this affordable home. Park has an in-ground pool and community clubhouse.

19. 2014-06-30
    listed $17,990 206-char remark

    Show marketing remark (206 chars)

    Move in ready! Nicely updated doublewide 2 bedroom, 1 bath unit in senior park has been very well maintained. Must see to appreciate this affordable home. Park has an in-ground pool and community clubhouse.

20. 2013-04-26
    soldstatus $38,000
21. 2013-04-12
    listed $38,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $541 · $45/mo
• Projected year-2 tax: $973 · $81/mo
• Expected delta: +$431/yr (+$36/mo · 79.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone AE · 22% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 6/10 Major 6 d/yr ≥100°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 20 unhealthy d/yr today · 22 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,888
• − Mortgage interest: −$7,170
• − Property taxes: −$541
• − Insurance: −$5,758
• − Repairs & maintenance: −$2,071
• − Management: −$2,071
• − Depreciation: −$3,724
• Taxable income: $4,552
• Est. tax owed @ 24.0%: −$1,093
• After-tax cash flow: $5,004/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: Ukiah Unified
• NCES district ID: 0640300
• Math proficiency: 24% ▲ 2.00%
• Reading proficiency: 37% ▲ 4.00%
• Median HH income: $47,865
• Composite: 29.21/100
• National rank: #11858
• State rank: #1018 of 1400 in CA

Livability — Ukiah

• Score: 64/100
• State rank: #425
• US rank: #14442

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ukiah, CA
• County: Mendocino County · 33,164 people
• City population: 33,164
• Metro: Ukiah, CA
• Population (ZIP): 33,164
• Household income: $69,772
• Rent vs Own: 44.7% rent · 55.3% own
• Severe rent burden: 1349.0

Population outlook (Mendocino County) Hauer SSP2

• Today (2025): 84,643 people
• By 2030: 82,138 · -3.0%
• By 2040: 76,402 · -9.7%
• By 2050: 71,759 · -15.2%
• By 2075: 61,454 · -27.4%
• By 2100: 50,130 · -40.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 57% Hispanic / Latino 32% Two or more races 18% Asian 3% Native American 2% Black 1%
• Hispanic origin (detail): Mexican 30%
• Common ancestry: Slovak 3% Italian 2% Lithuanian 2%
• Foreign-born: 16% · Canada, China, Vietnam
• Languages at home: 71% English-only · Spanish 25% Chinese 1% Tagalog/Filipino 1%

Political lean MEDSL · Mendocino

• 2024 margin: Strong D (+26.8) · D 61.3% · R 34.5% · Other 4.2%
• 2008→2024 swing: -16.0pp toward R · 2008: 42.8pp · 2024: 26.8pp
• All cycles: 2024: D+26.8 2020: D+35.8 2016: D+29.1 2012: D+37.6 2008: D+42.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -485.34%
• Current HPI: 164.6978
• Rent YoY: ▲ 6.07%
• Metro: Ukiah, 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

+255.3% since first listed

5 events — show timeline

• 2026-01-15 Listed $135,000 BAREIS
• 2014-11-03 Sold (MLS) $17,990 BAREIS
• 2014-06-30 Listed $17,990 BAREIS
• 2013-04-26 Sold (MLS) $38,000 BAREIS
• 2013-04-12 Listed $38,000 BAREIS

Property tax history

+4.8%/yr

Latest (2025): $541 · +4.1% YoY. Source: county tax records.