191 E El Camino Real #248

Mountain View, CA 94040

$188,000A-

1 bd · 1.0 ba · 672 sqft · Built 1984 · Manufactured · Active · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,366/mo
• Mortgage (P&I): −$986
• Tax + insurance: −$313
• HOA: −$0
• Vac / Maint / Mgmt: −$707
• Net cashflow: $1,360/mo
• Annual: $16,318/yr
• Cap rate: 14.97%
• Cash-on-cash: 31.00%
• DSCR: 2.38
• 1% rule: 1.79%
• Cash to close: $52,640

Investor read

• This is a 1-bed/1.0-bath manufactured listed at $188k. Condition is rated good.
• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $188k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $2k of equity ($1k loan paydown + $288 appreciation (0.1% local appreciation)).
• Location reads 84/100 on livability (#14 in CA, #671 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: crime D+, cost of living F.
• Mountain View-Los Altos Union High (urban): math 77% / reading 86% proficiency, ranked #11 of 517 in CA (top 2%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Mountain View High (math 83% / reading 89%, grade A, #25 of 1,170 statewide, top 2%, 2,220 students, 13% FRL).
• Market conditions: Rents rising fast (+6.2%/yr); 59 active listings in the ZIP; 14 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).
• Santa Clara County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts 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.
• At projected returns (0.1% appreciation + 6.2% rent growth), your $53k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 15.0% vs local median 1.4% in Mountain View — 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.
• Schools are A-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?
• 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.