26262 County RD 21a #50

Esparto, CA 95627

$154,900B

2 bd · 2.0 ba · 1,200 sqft · Built 1999 · Manufactured · Pending · 33 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,982/mo
• Mortgage (P&I): −$812
• Tax + insurance: −$258
• HOA: −$0
• Vac / Maint / Mgmt: −$416
• Net cashflow: $495/mo
• Annual: $5,946/yr
• Cap rate: 10.13%
• Cash-on-cash: 13.71%
• DSCR: 1.61
• 1% rule: 1.28%
• Cash to close: $43,372

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $155k. Condition is rated good.
• At list price, monthly cash flow is $495 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• It's been on market 33 days — a 3% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $150k (3.0% below list) — sets the bar for market timing.
• 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.
• Location reads 61/100 on livability (#548 in CA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: health & safety D, schools F, amenities F.
• Esparto Unified (town): math 10% / reading 28% proficiency, ranked #454 of 517 in CA (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 18 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 721 units permitted in Yolo County in 2024 (260 in 5+ unit buildings).
• Yolo County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $43k cash investment doubles in ~9 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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.