1025 Martin St #2 · Lakeport, CA 95453

$129,900

3 bd · 2.0 ba · 1,320 sqft · Land · 49 Days on market

Built 2023 $98/sqft · 5% above area Est $123k · 5% over ↓ 24% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +5.0/15.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

This stunning, brand-new 2023 Champion Manufactured Home is move-in ready and waiting for you to make it your own. Located in the desirable Fairgrounds Village Mobile Home Park, this spacious double-wide home offers three bedrooms, two bathrooms, and 1,320 square feet of modern comfort. Inside, you’ll find a brand-new stove, refrigerator, dishwasher, and cabinetry, along with fresh paint, laminate flooring, and plush carpeting throughout. The home sits within a beautifully maintained senior community that offers excellent onsite management and access to shared amenities including a recreation room, kitchen, and laundry facilities. Fairgrounds Village MHP is a peaceful, solar-powered p

Key facts

• Solar powered park
• Recreation room
• Brand new

Tags

• BRAND NEW
• MOVE IN READY
• SHARED AMENITIES
• SOLAR POWERED PARK
• EXCELLENT ONSITE MANAGEMENT
• RECREATION ROOM

Property features AI

Finance

• Other: Access via paved county road; directions: Main St to Martin St
• Financial info: Land lease: $785 monthly (current)
• HOA & community: Located in a senior community; Park: Fairground Village MHP; Community offers watersports, lake access, fishing, hiking, biking and mountainous surroundings; Pets allowed (manager approval required)

Exterior

• Parking: Carport with space for 2 vehicles
• Utilities: Public/district water; Public sewer; 220V in kitchen and laundry; Electricity connected
• Home design: Mobile home (24' x 56'); Double wide; Single story; Turnkey condition; Has a view
• Construction: Composition roof; Mobile home remains on site
• Exterior features: No pool; Lot is level/flat

Interior

• Kitchen: Refrigerator; Electric range; Dishwasher
• Bedrooms: Primary bedroom
• Flooring: Carpet; Laminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central furnace heating; Central cooling
• Interior features: Laminate counters; One-level home; Front entry
• Laundry & utility: Inside laundry in a separate room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $130k.

Deal economics

• At list price, monthly cash flow is $855 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.2% vs local median 3.3% in Lakeport — 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 54/100 on livability (#925 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A; Watch: health & safety C-, schools D+, employment D+.
• Lakeport Unified (town): math 13% / reading 30% proficiency, ranked #451 of 517 in CA (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 148 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 107 units permitted in Lake County in 2024 (40 in 5+ unit buildings).
• This rent runs 37% of the median local income ($71k/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 $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Lake 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 + 3.0% rent growth), your $36k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $126,003 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 1.71% ✓
• Cap rate: 14.19%
• Cash-on-cash: 28.22%
• DSCR: 2.26
• GRM: 4.9

CMA / ARV

• ARV (median comp): $123,151
• List price: $129,900
• Delta: 5.48%
• Verdict: FAIR
• Comps: 13 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.4%
• Equity multiple: 1.92×
• Total profit: $33,458
• Equity at exit: $19,369

10-year hold

• IRR: 30.5%
• Equity multiple: 3.73×
• Total profit: $99,414
• Equity at exit: $11,231

Cash invested: $36,372 (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 95453

• Active inventory: 148
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $2,219 high
• Mortgage (P&I): −$681
• Tax est. 1.5%: −$162 /mo · $1,948/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$466
• Net cashflow: $855

Break-even live

Break-even rent $1,136

Max offer price $129,900

Occupancy floor 56%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10 Royale Ave Lakeport, CA	2.0–3.0	2.0	1475	$2,195	$1.49	43d	3	0.59mi
10 Royale Ave #21 Lakeport, CA	2.0	2.0	1225	$2,195	$1.79	43d	1	0.59mi
10 Royale Ave #17 Lakeport, CA	2.0	2.0	1221	$2,100	$1.72	43d	1	0.59mi
595 9th St Lakeport, CA	3.0	2.5	1596	$1,900	$1.19	43d	1	0.60mi
300 Grace Ln Lakeport, CA	2.0	2.0	1200	$2,500	$2.08	43d	1	0.60mi

Listing history 23 events

1. 2026-06-19
   days on market $129,900 Active 49 DOM
2. 2026-06-18
   days on market $129,900 Active 48 DOM
3. 2026-06-17
   days on market $129,900 Active 47 DOM
4. 2026-06-16
   days on market $129,900 Active 46 DOM
5. 2026-06-15
   days on market $129,900 Active 45 DOM
6. 2026-06-14
   days on market $129,900 Active 43 DOM
7. 2026-06-12
   days on market $129,900 Active 42 DOM
8. 2026-06-09
   days on market $129,900 Active 39 DOM
9. 2026-06-08
   days on market $129,900 Active 38 DOM
10. 2026-06-07
    days on market $129,900 Active 37 DOM
11. 2026-06-05
    days on market $129,900 Active 34 DOM
12. 2026-06-03
    days on market $129,900 Active 33 DOM
13. 2026-06-02
    days on market $129,900 Active 32 DOM
14. 2026-06-01
    days on market $129,900 Active 31 DOM
15. 2026-05-31
    days on market $129,900 Active 30 DOM
16. 2026-05-30
    days on market $129,900 Active 29 DOM
17. 2026-05-01
    listed $129,900 Active 1136-char remark
18. 2026-03-12
    historical
19. 2026-01-14
    price $139,900
20. 2025-12-17
    price $145,900
21. 2025-10-06
    price $154,900
22. 2025-05-08
    price $159,900
23. 2025-04-02
    listed $169,900 Active

ⓘ 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 8/10 Severe
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 28 unhealthy d/yr today · 29 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,628
• − Mortgage interest: −$7,276
• − Property taxes: −$1,948
• − Insurance: −$650
• − Repairs & maintenance: −$2,130
• − Management: −$2,130
• − Depreciation: −$3,779
• Taxable income: $8,714
• Est. tax owed @ 24.0%: −$2,091
• After-tax cash flow: $8,172/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: Lakeport Unified
• NCES district ID: 0620670
• Math proficiency: 13% ▼ -8.00%
• Reading proficiency: 30% ▲ 1.00%
• Median HH income: $44,332
• Composite: 18.55/100
• National rank: #8912
• State rank: #451 of 517 in CA

Livability — Lakeport

• Score: 54/100
• State rank: #925
• US rank: #24236

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lakeport, CA
• County: Lake County · 24,333 people
• City population: 11,741
• Metro: Clearlake, CA
• Population (ZIP): 11,741
• Household income: $71,419
• Rent vs Own: 21.8% rent · 78.2% own
• Severe rent burden: 250.0

Population outlook (Lake County) Hauer SSP2

• Today (2025): 62,396 people
• By 2030: 60,626 · -2.8%
• By 2040: 56,453 · -9.5%
• By 2050: 53,054 · -15.0%
• By 2075: 47,663 · -23.6%
• By 2100: 41,804 · -33.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 14% Two or more races 9% Native American 5% Asian 1%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Italian 3% Slovak 3% Romanian 2%
• Foreign-born: 6% · Canada
• Languages at home: 89% English-only · Spanish 9% Other Indo-European 1%

Political lean MEDSL · Lake

• 2024 margin: Toss-up / Even · D 47.8% · R 49.2% · Other 3.0%
• 2008→2024 swing: -20.6pp toward R · 2008: 19.3pp · 2024: -1.4pp
• All cycles: 2024: R+1.4 2020: D+6.3 2016: D+3.7 2012: D+16.5 2008: D+19.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -176.01%
• Current HPI: 155.5391
• Rent YoY: —
• Metro: Clearlake, 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

-23.5% since first listed

7 events — show timeline

• 2026-05-01 Listed $129,900 CRMLS
• 2026-03-12 Listing Removed — CRMLS
• 2026-01-14 Price Changed $139,900 CRMLS
• 2025-12-17 Price Changed $145,900 CRMLS
• 2025-10-06 Price Changed $154,900 CRMLS
• 2025-05-08 Price Changed $159,900 CRMLS
• 2025-04-02 Listed $169,900 CRMLS

Property tax history

+7.5%/yr

Latest (2025): $200 · +7.9% YoY. Source: county tax records.