449 W Teft St #5 · Nipomo, CA 93444

$225,000

2 bd · 2.0 ba · 960 sqft · Manufactured public records · 7 Days on market

Built 2013 Est $228k · at est.

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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 +28.7/30.0
• DSCR +10.0/10.0
• ARV discount +8.2/15.0
• 1% rule +6.7/10.0
• Schools +4.5/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for an affordable tiny home on the California Central Coast? Look no further! Newer property in an all aged manufactured home community with a space rent currently as low as $350. Close to shopping and HWY 101. You will absolutely love this charming home the minute you walk in! This well taken care of home has 2 Bedrooms, 2 Full Baths. Airy feeling living room with dining area and breakfast bar. Natural lighting & open kitchen area with plentiful storage. This is the perfect place if you are searching for affordable living on the central coast!

Key facts

• Built 2013
• Listed 7 days

Property features AI

Finance

• Other: Living area source: Seller
• HOA & community: Land lease: $995; Park community: Urban

Exterior

• Parking: Located in Buena Vista MHP (mobile home park)
• Utilities: Public sewer; District/Public water
• Home design: Single-story mobile home (Double-wide model: GoldenPacific); Entry level: 1; Mobile home remains on site
• Construction: Approximately 20 ft wide by 48 ft long; Year built source: Other
• Exterior features: No pool; No landscaping

Interior

• Bathrooms: 2 full bathrooms
• Interior features: Front door entry
• Laundry & utility: Laundry area

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $225k.

Deal economics

• At list price, monthly cash flow is $750 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Cap rate 10.3% vs local median 2.3% in Nipomo — 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 61/100 on livability (#526 in CA) — a middle-class / working-renter tenant base. Strengths: employment A+, health & safety A-, housing B; Watch: crime C-, schools D+, amenities F.
• Lucia Mar Unified (town): math 42% / reading 56% proficiency, ranked #433 of 1,400 in CA (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 77 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,104 units permitted in San Luis Obispo County in 2024 (273 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 $7k of value loss. Plan a longer hold.
• San Luis Obispo County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $63k cash investment doubles in ~9 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 10y 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 $225k implies a 55% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $225,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.17% ✓
• Cap rate: 10.29%
• Cash-on-cash: 14.28%
• DSCR: 1.64
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $228,480
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
449 W Tefft St #7	0.00mi	2/2.0	944 (-2%)	1mo	$225,000	$238	96
449 W TEFFT #34	0.00mi	2/2.0	960 (0%)	8mo	$190,000	$198	94
449 W Tefft #13	0.00mi	2/2.0	864 (-10%)	1mo	$225,000	$260	82
449 W Tefft St #23	0.00mi	2/2.0	859 (-10%)	3mo	$186,000	$217	80
449 W Tefft #22	0.00mi	2/2.0	834 (-13%)	2mo	$225,000	$270	76

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: 4.6%
• Equity multiple: 1.18×
• Total profit: $11,196
• Equity at exit: $33,548

10-year hold

• IRR: 14.0%
• Equity multiple: 2.12×
• Total profit: $70,840
• Equity at exit: $19,454

Cash invested: $63,000 (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 93444

• Home prices YoY: -34.0%
• Active inventory: 77
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $2,632 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$56 /mo · $673/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$553
• Net cashflow: $750

Break-even live

Break-even rent $1,683

Max offer price $225,000

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
325 Sunnyslope Ln Nipomo, CA	2.0	2.0	1033	$2,900	$2.81	43d	1	0.21mi
206 W Price St Nipomo, CA	2.0	2.0	721	$2,395	$3.32	43d	1	0.40mi
172 W Price St Unit 2 Nipomo, CA	2.0	2.0	1000	$2,200	$2.20	23d	1	0.45mi
516 Adina Way Nipomo, CA	2.0	1.5	964	$2,650	$2.75	43d	1	0.60mi
183 E Dana St Nipomo, CA	3.0	1.0	1020	$3,000	$2.94	23d	1	0.75mi
509 Robert Ct Unit A Nipomo, CA	2.0	1.0	750	$2,300	$3.07	23d	1	0.91mi

Listing history 7 events

1. 2026-06-18
   days on market $225,000 Active 7 DOM
2. 2026-06-17
   days on market $225,000 Active 6 DOM
3. 2026-06-16
   days on market $225,000 Active 5 DOM
4. 2026-06-15
   days on market $225,000 Active 4 DOM
5. 2026-06-14
   days on market $225,000 Active 2 DOM
6. 2026-06-13
   remarks 648-char remark
7. 2026-06-13
   listed $225,000 Active 1 DOM

ⓘ 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: $673 · $56/mo
• Projected year-2 tax: $1,710 · $142/mo
• Expected delta: +$1,037/yr (+$86/mo · 154.2%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥84°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 8 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,588
• − Mortgage interest: −$12,603
• − Property taxes: −$673
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,527
• − Management: −$2,527
• − Depreciation: −$6,545
• Taxable income: $5,587
• Est. tax owed @ 24.0%: −$1,341
• After-tax cash flow: $7,657/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: Lucia Mar Unified
• NCES district ID: 0623080
• Math proficiency: 42% ▲ 3.00%
• Reading proficiency: 56% ▲ 2.00%
• Median HH income: $62,681
• Composite: 45.19/100
• National rank: #5782
• State rank: #433 of 1400 in CA

Livability — Nipomo

• Score: 61/100
• State rank: #526
• US rank: #17699

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Nipomo, CA
• City population: 21,495
• Population (ZIP): 21,495

Population outlook (San Luis Obispo County) Hauer SSP2

• Today (2025): 306,977 people
• By 2030: 320,378 · +4.4%
• By 2040: 343,933 · +12.0%
• By 2050: 366,853 · +19.5%
• By 2075: 428,329 · +39.5%
• By 2100: 460,687 · +50.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 48% Hispanic / Latino 44% Two or more races 23% Asian 3% Native American 2% Black 1%
• Hispanic origin (detail): Mexican 40% Puerto Rican 2%
• Common ancestry: Lithuanian 3% Russian 2% Slovak 2%
• Foreign-born: 14% · Canada, South Korea
• Languages at home: 74% English-only · Spanish 23% Tagalog/Filipino 1% Chinese 1%

Political lean MEDSL · San Luis Obispo

• 2024 margin: D (+10.9) · D 53.9% · R 43.1% · Other 3.0%
• 2008→2024 swing: +5.5pp toward D · 2008: 5.4pp · 2024: 10.9pp
• All cycles: 2024: D+10.9 2020: D+13.1 2016: D+8.3 2012: D+1.0 2008: D+5.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -188.36%
• Current HPI: 366.0133
• 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

+95.7% since first listed

9 events — show timeline

• 2026-06-11 Listed $225,000 CRMLS
• 2019-09-06 Sold (MLS) $145,000 NSBCRMLS
• 2019-07-29 Pending — NSBCRMLS
• 2019-07-16 Contingent — NSBCRMLS
• 2019-07-12 Listed $145,000 NSBCRMLS
• 2017-04-13 Listing Removed — CRMLS
• 2017-04-04 Listing Removed — NSBCRMLS
• 2017-03-16 Listed $115,000 CRMLS
• 2016-05-10 Listed $115,000 NSBCRMLS

Property tax history

+1.6%/yr

Latest (2025): $673 · +3.7% YoY. Source: county tax records.