1111 Morse Ave #25 · Sunnyvale, CA 94089

$253,000

2 bd · 2.0 ba · 1,440 sqft · Manufactured · 7 Days on market

Built 1975 Est $259k · at est.

---

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 +8.6/15.0
• Schools +8.3/10.0
• Livability +4.1/5.0
• Appreciation +3.2/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Location, Location! Charming and Affordable Manufacture home in sought-after55+ Community, 2 Bedroom and 2 Bathroom, Approximately 1,440 SQ Feet, Double-Pane Windows, Laminate Flooring Throughout, Kitchen with Quartz Counter Top, Washer and Dryer provided. Club House with Swimming Pool and Jacuzzi, and Large Party Room, etc. Space Rent $1,774.98

Key facts

• Laminate flooring
• Quartz counter top
• Swimming pool

Tags

• DOUBLE-PANE WINDOWS
• LAMINATE FLOORING
• QUARTZ COUNTER TOP
• CLUB HOUSE
• SWIMMING POOL
• JACUZZI

Property features AI

Finance

• Other: Living area approximately 1,440; Section identifiers: S12910U, S12910X
• HOA & community: Community amenities include barbecue area, billiard room, clubhouse, community pool and sauna/spa/hot tub

Exterior

• Parking: Carport (2 spaces minimum); Covered parking; Guest/visitor parking; Tandem parking; Assigned space number 25 (space rent applies)
• Utilities: Public water; Public sewer; Public utilities
• Home design: Single-story; Manufactured/mobile home
• Construction: Foam roofing
• Exterior features: Foam roof; Pets allowed; Senior community (55+); Leased land (park home site)

Interior

• Kitchen: Gas cooktop; Dishwasher; Garbage disposal; Range hood; Pantry; Refrigerator included; Kitchen and family room combined
• Bedrooms: Two bedrooms (one on ground floor)
• Flooring: Laminate flooring
• Bathrooms: Two full bathrooms with double sinks and shower-and-tub combinations
• Heating & cooling: Central forced air heating; Gas heating; Central forced air cooling
• Interior features: Laundry room with washer and dryer; Wet bar; Cable TV available
• Laundry & utility: Washer and dryer in unit; Storage room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $253k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $253k).
• Cap rate 14.1% vs local median 1.2% in Sunnyvale — 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 82/100 on livability (#37 in CA, #1,258 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living F.
• Fremont Union High (urban): math 87% / reading 91% proficiency, ranked #6 of 517 in CA (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Fremont High (math 67% / reading 82%, grade B+, #78 of 1,170 statewide, top 7%, 2,171 students, 23% FRL).
• Zoned-school proficiency averages 74% at this address vs 89% district-wide (-14 pts) — the specific schools serving this property underperform the Fremont Union High average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+2.6%/yr); 69 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 2d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Santa Clara County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.6% rent growth), your $71k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 11y 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 $145k; list at $253k implies a 74% 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); extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $253,000

Questions for the listing agent

1. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-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?
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: 1.70% ✓
• Cap rate: 14.12%
• Cash-on-cash: 27.95%
• DSCR: 2.24
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $259,200
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1111 Morse Ave Spc 17	0.00mi	2/2.0	1,440 (0%)	6mo	$240,000	$167	95
1111 Morse Ave #29	0.01mi	2/2.0	1,440 (0%)	6mo	$230,000	$160	94
1111 Morse Ave #36	0.14mi	2/2.0	1,438 (-0%)	7mo	$199,999	$139	87
1111 Morse Ave #74	0.00mi	3/2.0 (+1)	1,540 (+7%)	4mo	$340,000	$221	80
690 Persian Dr #61	0.55mi	2/2.0	1,464 (+2%)	2mo	$229,500	$157	70
690 Persian Dr #4	0.56mi	2/2.0	1,440 (0%)	7mo	$229,900	$160	68
1050 Borregas Ave #69	0.22mi	3/2.0 (+1)	1,590 (+10%)	6mo	$293,000	$184	63
690 Persian Dr #18	0.55mi	2/2.0	1,600 (+11%)	3mo	$160,000	$100	53
600 E Weddell Dr #192	0.45mi	3/2.0 (+1)	1,248 (-13%)	2mo	$300,000	$240	50
600 E Weddell Dr #9	0.47mi	3/2.0 (+1)	1,269 (-12%)	6mo	$228,000	$180	48
600 E Weddell Dr #184	0.45mi	3/2.0 (+1)	1,227 (-15%)	3mo	$280,000	$228	47
690 Persian Dr #8	0.55mi	3/2.0 (+1)	1,602 (+11%)	6mo	$327,000	$204	45

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 · 2.63% rent growth · sell at horizon

5-year hold

• IRR: 12.7%
• Equity multiple: 1.50×
• Total profit: $35,660
• Equity at exit: $37,723

10-year hold

• IRR: 21.3%
• Equity multiple: 2.78×
• Total profit: $126,223
• Equity at exit: $21,875

Cash invested: $70,840 (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 94089

• Home prices YoY: -1.1%
• Rents YoY: 2.6%
• Active inventory: 69
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $4,302 high
• Mortgage (P&I): −$1,327
• Tax est. 1.5%: −$316 /mo · $3,795/yr
• Insurance: −$105
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$903
• Net cashflow: $1,224

Break-even live

Break-even rent $2,753

Max offer price $253,000

Occupancy floor 67%

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: $63,250
• Closing costs: $7,590
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1063 Morse Ave Sunnyvale, CA	1.0–2.0	1.0–2.0	844	$5,014	$5.94	1d	14	0.26mi
621 Tasman Dr Sunnyvale, CA	1.0–2.0	1.0–2.0	959	$4,557	$4.75	1d	9	0.50mi
550 E Weddell Dr Sunnyvale, CA	1.0–3.0	1.0–2.0	1255	$4,986	$3.97	1d	8	0.50mi
1220 N Fair Oaks Ave Sunnyvale, CA	1.0–2.0	1.0–2.0	887	$4,780	$5.39	1d	4	0.52mi
785 N Fair Oaks Ave #8 Sunnyvale, CA	2.0	1.0	926	$3,300	$3.56	10d	1	0.74mi
781 N Fair Oaks Ave #6 Sunnyvale, CA	3.0	2.0	1134	$3,795	$3.35	16d	1	0.74mi
676 Johanna Ave Unit 2 Sunnyvale, CA	2.0	1.0	892	$2,650	$2.97	1d	1	0.98mi
1271 Lawrence Station Rd Sunnyvale, CA	1.0–2.0	1.0–2.5	1417	$5,197	$3.67	1d	7	1.22mi
725 San Simeon St #1617 Sunnyvale, CA	3.0	2.0	1008	$5,400	$5.36	1d	1	1.34mi
450 N Mathilda Ave Sunnyvale, CA	1.0–2.0	1.0–2.0	810	$4,217	$5.21	1d	4	1.36mi

Listing history 6 events

1. 2026-06-18
   days on market $253,000 Active 7 DOM
2. 2026-06-17
   days on market $253,000 Active 6 DOM
3. 2026-06-16
   days on market $253,000 Active 5 DOM
4. 2026-06-15
   days on market $253,000 Active 4 DOM
5. 2026-06-13
   remarks 347-char remark
6. 2026-06-13
   listed $253,000 Active 2 DOM

ⓘ 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 AE · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥90°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 13 unhealthy d/yr today · 13 by 30 yrs out

Taxation est. · year 1

• Rental income: $51,622
• − Mortgage interest: −$14,172
• − Property taxes: −$3,795
• − Insurance: −$6,384
• − Repairs & maintenance: −$4,130
• − Management: −$4,130
• − Depreciation: −$7,360
• Taxable income: $11,652
• Est. tax owed @ 24.0%: −$2,797
• After-tax cash flow: $11,885/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: Fremont Union High
• NCES district ID: 0614430
• Math proficiency: 87% ▲ 9.00%
• Reading proficiency: 91% ▲ 10.00%
• Median HH income: $128,947
• Composite: 82.66/100
• National rank: #20
• State rank: #6 of 517 in CA

Livability — Sunnyvale

• Score: 82/100
• State rank: #37
• US rank: #1258

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sunnyvale, CA
• County: Santa Clara County · 1,806,974 people
• City population: 154,236
• Metro: San Jose-Sunnyvale-Santa Clara, CA
• Population (ZIP): 22,699
• Household income: $158,304
• Rent vs Own: 47.1% rent · 52.9% own
• Severe rent burden: 558.0

Population outlook (Santa Clara County) Hauer SSP2

• Today (2025): 2,179,074 people
• By 2030: 2,301,297 · +5.6%
• By 2040: 2,528,195 · +16.0%
• By 2050: 2,712,135 · +24.5%
• By 2075: 2,998,701 · +37.6%
• By 2100: 2,931,429 · +34.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: Asian 45% White 24% Hispanic / Latino 24% Two or more races 9% Black 2%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Scotch-Irish 2% Lithuanian 1% Estonian 1%
• Foreign-born: 51% · Canada, China, Vietnam
• Languages at home: 40% English-only · Spanish 18% Chinese 12% Other Asian/Pacific 8%

Political lean MEDSL · Santa Clara

• 2024 margin: Solid D (+40.0) · D 68.1% · R 28.1% · Other 3.8%
• 2008→2024 swing: -0.9pp no change · 2008: 40.9pp · 2024: 40.0pp
• All cycles: 2024: D+40.0 2020: D+47.4 2016: D+52.5 2012: D+42.1 2008: D+40.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -3.70%
• Current HPI: 338.6935
• Rent YoY: ▲ 2.63%
• Metro: San Jose-Sunnyvale-Santa Clara, 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

+94.6% since first listed

9 events — show timeline

• 2026-06-12 Listed $253,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-06-12 Listed $253,000 MLSListings
• 2017-11-10 Sold (MLS) $145,000 MLSListings
• 2017-10-18 Pending — MLSListings
• 2017-09-27 Price Changed $149,888 MLSListings
• 2017-09-16 Listed $165,000 MLSListings
• 2015-02-03 Pending — MLSListings
• 2015-01-31 Sold (MLS) $130,000 MLSListings
• 2015-01-06 Listed $130,000 MLSListings