3105 Patriot Ln

Rancho Cordova, CA 95827

$149,000B-

3 bd · 2.0 ba · 1,027 sqft · Built 2014 · Manufactured · Active · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,117/mo
• Mortgage (P&I): −$781
• Tax + insurance: −$130
• HOA: −$0
• Vac / Maint / Mgmt: −$445
• Net cashflow: $761/mo
• Annual: $9,135/yr
• Cap rate: 12.42%
• Cash-on-cash: 21.89%
• DSCR: 1.97
• 1% rule: 1.42%
• Cash to close: $41,720

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $149k.
• At list price, monthly cash flow is $761 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#268 in CA) — a middle-class / working-renter tenant base. Strengths: housing A+, employment B; Watch: schools C-, commute C-, crime D.
• Sacramento City Unified (urban): math 32% / reading 43% proficiency, ranked #804 of 1,400 in CA (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.4%/yr); 112 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 6,825 units permitted in Sacramento County in 2024 (1,752 in 5+ unit buildings).
• Sacramento County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.4% rent growth), your $42k cash investment doubles in ~6 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 12.4% vs local median 3.0% in Rancho Cordova — 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.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.