1184 N Main St #61 · Fort Bragg, CA 95437

$160,000

2 bd · 2.0 ba · 1,200 sqft · Manufactured · 253 Days on market

Built 1979 $133/sqft · 32% below area Est $236k · 32% under

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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 +21.3/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +4.7/10.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Steps from the sand and minutes to downtown, this manufactured home with a newly redone roof offers unbeatable coastal living. Located in the quiet Ocean Lake park right across the street from Pudding Creek beach. Enjoy easy access to shops and restaurants--all at an affordable price!

Key facts

• Newly redone roof
• Access to shops
• Minutes to downtown

Tags

• NEWLY REDONE ROOF
• ACCESS TO SHOPS
• ACCESS TO RESTAURANTS
• MINUTES TO DOWNTOWN

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $160k.

Deal economics

• At list price, monthly cash flow is $234 ($3k/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 $156k (2.5% below list).
• Recommended offer: $141k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 1.2% in Fort Bragg — 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 65/100 on livability (#385 in CA) — a middle-class / working-renter tenant base. Strengths: health & safety A+, amenities A-; Watch: schools C-, crime F, commute F.
• Fort Bragg Unified (town): math 27% / reading 42% proficiency, ranked #918 of 1,400 in CA (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 95 active listings in the ZIP; 8 units permitted in Mendocino County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 253 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $85k (35%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $90k; list at $160k implies a 78% gain — meaningful room to come down on a strong offer.

Recommended offer $140,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 253 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 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.97% ✗
• Cap rate: 8.05%
• Cash-on-cash: 6.26%
• DSCR: 1.28
• GRM: 8.6

CMA / ARV

• ARV (median comp): $236,450
• List price: $160,000
• Delta: -32.33%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1184 N Main St #6	0.00mi	2/2.0	1,248 (+4%)	9mo	$293,200	$235	86
1184 N Main St #57	0.00mi	2/2.0	1,344 (+12%)	11mo	$240,000	$179	71

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: -6.7%
• Equity multiple: 0.75×
• Total profit: $-11,076
• Equity at exit: $23,857

10-year hold

• IRR: 2.9%
• Equity multiple: 1.21×
• Total profit: $9,360
• Equity at exit: $13,834

Cash invested: $44,800 (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 95437

• Active inventory: 95
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,559 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$92 /mo · $1,108/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $234

Break-even live

Break-even rent $1,263

Max offer price $160,000

Occupancy floor 80%

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $160,000 Active 253 DOM
2. 2026-06-18
   days on market $160,000 Active 252 DOM
3. 2026-06-17
   days on market $160,000 Active 251 DOM
4. 2026-06-16
   days on market $160,000 Active 250 DOM
5. 2026-06-15
   days on market $160,000 Active 249 DOM
6. 2026-06-14
   days on market $160,000 Active 247 DOM
7. 2026-06-12
   days on market $160,000 Active 246 DOM
8. 2026-06-09
   days on market $160,000 Active 243 DOM
9. 2026-06-08
   days on market $160,000 Active 242 DOM
10. 2026-06-07
    days on market $160,000 Active 241 DOM
11. 2026-06-07
    days on market $160,000 Active 240 DOM
12. 2026-06-04
    days on market $160,000 Active 237 DOM
13. 2026-06-02
    days on market $160,000 Active 236 DOM
14. 2026-06-01
    days on market $160,000 Active 235 DOM
15. 2026-05-31
    days on market $160,000 Active 234 DOM
16. 2026-05-31
    days on market $160,000 Active 233 DOM
17. 2026-05-20
    price $160,000 285-char remark

    Show marketing remark (285 chars)

    Steps from the sand and minutes to downtown, this manufactured home with a newly redone roof offers unbeatable coastal living. Located in the quiet Ocean Lake park right across the street from Pudding Creek beach. Enjoy easy access to shops and restaurants--all at an affordable price!

18. 2026-03-03
    status Active 285-char remark

    Show marketing remark (285 chars)

    Steps from the sand and minutes to downtown, this manufactured home with a newly redone roof offers unbeatable coastal living. Located in the quiet Ocean Lake park right across the street from Pudding Creek beach. Enjoy easy access to shops and restaurants--all at an affordable price!

19. 2026-03-01
    historical 285-char remark

    Show marketing remark (285 chars)

    Steps from the sand and minutes to downtown, this manufactured home with a newly redone roof offers unbeatable coastal living. Located in the quiet Ocean Lake park right across the street from Pudding Creek beach. Enjoy easy access to shops and restaurants--all at an affordable price!

20. 2025-11-16
    price $190,000 285-char remark

    Show marketing remark (285 chars)

    Steps from the sand and minutes to downtown, this manufactured home with a newly redone roof offers unbeatable coastal living. Located in the quiet Ocean Lake park right across the street from Pudding Creek beach. Enjoy easy access to shops and restaurants--all at an affordable price!

21. 2025-10-07
    listed $245,000 Active 285-char remark

    Show marketing remark (285 chars)

    Steps from the sand and minutes to downtown, this manufactured home with a newly redone roof offers unbeatable coastal living. Located in the quiet Ocean Lake park right across the street from Pudding Creek beach. Enjoy easy access to shops and restaurants--all at an affordable price!

22. 2008-09-03
    soldstatus $90,000 315-char remark

    Show marketing remark (315 chars)

    Nice manufactured home with two bedrooms and two baths, new stove, recently redone roof, back of park privacy, and all appliances and some furniture included!Front and rear porch and parking area covered. Small privacy patio and garden area in rear. Fencing on three sides for privacy. Being sold 'as is' by estate.

ⓘ 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: $1,108 · $92/mo
• Projected year-2 tax: $1,216 · $101/mo
• Expected delta: +$108/yr (+$9/mo · 9.8%)

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

Taxation est. · year 1

• Rental income: $18,712
• − Mortgage interest: −$8,962
• − Property taxes: −$1,108
• − Insurance: −$800
• − Repairs & maintenance: −$1,497
• − Management: −$1,497
• − Depreciation: −$4,655
• Taxable income: $193
• Est. tax owed @ 24.0%: −$46
• After-tax cash flow: $2,760/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: Fort Bragg Unified
• NCES district ID: 0614070
• Math proficiency: 27% ▬ 0.00%
• Reading proficiency: 42% ▬ 0.00%
• Median HH income: $41,510
• Composite: 31.75/100
• National rank: #11096
• State rank: #918 of 1400 in CA

Livability — Fort Bragg

• Score: 65/100
• State rank: #385
• US rank: #13118

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Bragg, CA
• Population (ZIP): 15,106

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: Predominantly White (67%)
• Race & ethnicity: White 67% Hispanic / Latino 24% Two or more races 17% Native American 3% Asian 2%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: Italian 6% Russian 3% Slovak 3%
• Foreign-born: 12% · Canada, China
• Languages at home: 83% English-only · Spanish 14% Other Indo-European 1% Chinese 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: ▼ -653.20%
• Current HPI: 201.8012
• Rent YoY: —
• Metro: —
• 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

+77.8% since first listed

6 events — show timeline

• 2026-05-20 Price Changed $160,000 CRMLS
• 2026-03-03 Relisted — CRMLS
• 2026-03-01 Listing Removed — CRMLS
• 2025-11-16 Price Changed $190,000 CRMLS
• 2025-10-07 Listed $245,000 CRMLS
• 2008-09-03 Sold (MLS) $90,000 CRMLS

Property tax history

+2.3%/yr

Latest (2025): $1,108 · +2.8% YoY. Source: county tax records.