19250 N Woodbridge #13

Woodbridge, CA 95258

$99,900B

2 bd · 1.5 ba · 768 sqft · Built 1967 · Manufactured · Active · 108 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,750/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$166
• HOA: −$0
• Vac / Maint / Mgmt: −$578
• Net cashflow: $1,482/mo
• Annual: $17,785/yr
• Cap rate: 24.10%
• Cash-on-cash: 63.58%
• DSCR: 3.83
• 1% rule: 2.75%
• Cash to close: $27,972

Investor read

• This is a 2-bed/1.5-bath manufactured listed at $100k. Condition is rated good.
• At list price, monthly cash flow is $1k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $100k).
• It's been on market 108 days — a 9% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $91k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 56/100 on livability (#810 in CA) — a working-class tenant base; expect higher turnover. Strengths: employment A+, housing A+, crime A; Watch: amenities F, commute F, cost of living F.
• Lodi Unified (urban): math 24% / reading 36% proficiency, ranked #325 of 517 in CA (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Woodbridge (math 17% / reading 27%, grade F, #1,179 of 1,571 statewide, top 78%, 349 students, 83% FRL); Millswood Middle (math 25% / reading 35%, grade F, #218 of 498 statewide, top 44%, 769 students, 70% FRL); Lodi High (math 37% / reading 53%, grade D-, #425 of 1,170 statewide, top 37%, 2,070 students, 59% FRL).
• Market conditions: 11 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 3,779 units permitted in San Joaquin County in 2024 (0 in 5+ unit buildings).
• San Joaquin County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 108 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.