12350 Christensen Rd #76 · Salinas, CA 93907

$119,999

2 bd · 1.0 ba · 784 sqft · Manufactured · 226 Days on market

Built 1985 ↓ 20% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Senior 55+ community living in North Salinas, just outside of City limits! Seller may consider seller financing for qualified buyers with a substantial down payment. This updated 2 bedroom, 1 bath home features fresh laminate flooring, new carpet in the bedrooms, dual-pane windows and upgraded kitchen and bathroom countertops. Bright, clean and move-in ready. This home offers comfortable low-maintenance living in a well-maintained park close to shopping, dining and commuter access.

Key facts

• Well-maintained park
• Dual-pane windows
• Upgraded kitchen

Tags

• DUAL-PANE WINDOWS
• UPGRADED KITCHEN
• UPGRADED BATHROOM COUNTERTOPS
• LOW-MAINTENANCE LIVING
• WELL-MAINTAINED PARK

Property features AI

Finance

• HOA & community: Community clubhouse

Exterior

• Parking: Carport (1); Guest/visitor parking; Assigned space #76; Space rent charged
• Utilities: Public water; Public sewer; Public utilities
• Home design: Located in a 55+ senior community
• Construction: Assessor-listed property size
• Exterior features: Metal roof; Leased land (park home site)

Interior

• Kitchen: Gas cooktop and gas oven/range; Hood and exhaust fan; Granite countertops; Pantry; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bath with shower and tub
• Heating & cooling: Central forced air heating
• Interior features: Grab bars in bathroom; Breakfast bar and dining area
• Laundry & utility: Washer and dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $120k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.8% vs local median 2.7% in Salinas — 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 63/100 on livability (#465 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, employment B+; Watch: schools F, crime D-, amenities F.
• Salinas Union High (urban): math 23% / reading 39% proficiency, ranked #998 of 1,400 in CA (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 49 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 530 units permitted in Monterey County in 2024 (50 in 5+ unit buildings).
• This rent runs 30% of the median local income ($105k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Monterey County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 226 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $30k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $105,599 (12.0% below list)

Questions for the listing agent

1. It's been on market 226 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 2.20% ✓
• Cap rate: 18.81%
• Cash-on-cash: 44.70%
• DSCR: 2.99
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $70,560
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12350 #147 Christensen Rd #147	0.09mi	2/1.0	760 (-3%)	6mo	$22,000	$29	86
12350 Christensen Rd Space #32	0.00mi	2/1.0	728 (-7%)	10mo	$170,000	$234	80
12350 Christensen Rd #127	0.08mi	2/1.0	720 (-8%)	24mo	$65,000	$90	62

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: 41.8%
• Equity multiple: 2.80×
• Total profit: $60,315
• Equity at exit: $17,892

10-year hold

• IRR: 47.9%
• Equity multiple: 5.62×
• Total profit: $155,335
• Equity at exit: $10,375

Cash invested: $33,600 (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 93907

• Active inventory: 49
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $2,634 high
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,800/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$553
• Net cashflow: $1,252

Break-even live

Break-even rent $1,050

Max offer price $119,999

Occupancy floor 47%

Sensitivity live

Price	-10% $1,335	-5% $1,293	+0% $1,252	+5% $1,210	+10% $1,169
Rent	-10% $1,044	-5% $1,148	+0% $1,252	+5% $1,356	+10% $1,460
Rate	-1.0pp $1,312	-0.5pp $1,282	base $1,252	+0.5pp $1,221	+1.0pp $1,189

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2402 N Main St Salinas, CA	2.0	1.0	900	$2,500	$2.78	14d	1	0.63mi
2362 N Main St #2 Salinas, CA	1.0	1.0	640	$2,195	$3.43	22d	1	0.66mi
2290 N Main St Salinas, CA	1.0–3.0	1.0–2.0	985	$2,911	$2.96	2d	13	0.77mi
2198 Brutus St Salinas, CA	1.0–2.0	1.0–1.5	893	$2,645	$2.96	8d	2	0.92mi
93 Castro St Salinas, CA	2.0	1.0–2.0	828	$2,400	$2.90	13d	3	1.13mi
306 England Ave Salinas, CA	3.0	2.0	1104	$3,500	$3.17	14d	1	1.14mi
18854 Eisenhower St Unit 18854p Salinas, CA	2.0	1.0	1000	$2,700	$2.70	14d	1	1.18mi
2073 Santa Rita St Salinas, CA	2.0	1.0	492	$2,593	$5.26	3d	13	1.20mi

Listing history 25 events

1. 2026-06-18
   days on market $119,999 Active 226 DOM
2. 2026-06-17
   days on market $119,999 Active 225 DOM
3. 2026-06-16
   days on market $119,999 Active 224 DOM
4. 2026-06-15
   days on market $119,999 Active 223 DOM
5. 2026-06-14
   days on market $119,999 Active 221 DOM
6. 2026-06-13
   days on market $119,999 Active 220 DOM
7. 2026-06-10
   days on market $119,999 Active 218 DOM
8. 2026-06-09
   days on market $119,999 Active 217 DOM
9. 2026-06-08
   days on market $119,999 Active 216 DOM
10. 2026-06-07
    days on market $119,999 Active 215 DOM
11. 2026-06-03
    days on market $119,999 Active 211 DOM
12. 2026-06-02
    days on market $119,999 Active 210 DOM
13. 2026-06-01
    days on market $119,999 Active 209 DOM
14. 2026-05-31
    days on market $119,999 Active 208 DOM
15. 2026-05-30
    days on market $119,999 Active 207 DOM
16. 2026-05-11
    status Active 486-char remark

    Show marketing remark (486 chars)

    Senior 55+ community living in North Salinas, just outside of City limits! Seller may consider seller financing for qualified buyers with a substantial down payment. This updated 2 bedroom, 1 bath home features fresh laminate flooring, new carpet in the bedrooms, dual-pane windows and upgraded kitchen and bathroom countertops. Bright, clean and move-in ready. This home offers comfortable low-maintenance living in a well-maintained park close to shopping, dining and commuter access.

17. 2026-05-11
    status Active 486-char remark

    Show marketing remark (486 chars)

    Senior 55+ community living in North Salinas, just outside of City limits! Seller may consider seller financing for qualified buyers with a substantial down payment. This updated 2 bedroom, 1 bath home features fresh laminate flooring, new carpet in the bedrooms, dual-pane windows and upgraded kitchen and bathroom countertops. Bright, clean and move-in ready. This home offers comfortable low-maintenance living in a well-maintained park close to shopping, dining and commuter access.

18. 2026-05-08
    status Pending 486-char remark

    Show marketing remark (486 chars)

    Senior 55+ community living in North Salinas, just outside of City limits! Seller may consider seller financing for qualified buyers with a substantial down payment. This updated 2 bedroom, 1 bath home features fresh laminate flooring, new carpet in the bedrooms, dual-pane windows and upgraded kitchen and bathroom countertops. Bright, clean and move-in ready. This home offers comfortable low-maintenance living in a well-maintained park close to shopping, dining and commuter access.

19. 2026-05-07
    historical Contingent 486-char remark

    Show marketing remark (486 chars)

    Senior 55+ community living in North Salinas, just outside of City limits! Seller may consider seller financing for qualified buyers with a substantial down payment. This updated 2 bedroom, 1 bath home features fresh laminate flooring, new carpet in the bedrooms, dual-pane windows and upgraded kitchen and bathroom countertops. Bright, clean and move-in ready. This home offers comfortable low-maintenance living in a well-maintained park close to shopping, dining and commuter access.

20. 2026-04-20
    price $119,999 486-char remark

    Show marketing remark (486 chars)

    Senior 55+ community living in North Salinas, just outside of City limits! Seller may consider seller financing for qualified buyers with a substantial down payment. This updated 2 bedroom, 1 bath home features fresh laminate flooring, new carpet in the bedrooms, dual-pane windows and upgraded kitchen and bathroom countertops. Bright, clean and move-in ready. This home offers comfortable low-maintenance living in a well-maintained park close to shopping, dining and commuter access.

21. 2026-04-20
    price $119,999 486-char remark

    Show marketing remark (486 chars)

    Senior 55+ community living in North Salinas, just outside of City limits! Seller may consider seller financing for qualified buyers with a substantial down payment. This updated 2 bedroom, 1 bath home features fresh laminate flooring, new carpet in the bedrooms, dual-pane windows and upgraded kitchen and bathroom countertops. Bright, clean and move-in ready. This home offers comfortable low-maintenance living in a well-maintained park close to shopping, dining and commuter access.

22. 2026-03-19
    price $132,999 486-char remark

    Show marketing remark (486 chars)

    Senior 55+ community living in North Salinas, just outside of City limits! Seller may consider seller financing for qualified buyers with a substantial down payment. This updated 2 bedroom, 1 bath home features fresh laminate flooring, new carpet in the bedrooms, dual-pane windows and upgraded kitchen and bathroom countertops. Bright, clean and move-in ready. This home offers comfortable low-maintenance living in a well-maintained park close to shopping, dining and commuter access.

23. 2026-03-19
    price $132,999 486-char remark

    Show marketing remark (486 chars)

    Senior 55+ community living in North Salinas, just outside of City limits! Seller may consider seller financing for qualified buyers with a substantial down payment. This updated 2 bedroom, 1 bath home features fresh laminate flooring, new carpet in the bedrooms, dual-pane windows and upgraded kitchen and bathroom countertops. Bright, clean and move-in ready. This home offers comfortable low-maintenance living in a well-maintained park close to shopping, dining and commuter access.

24. 2025-11-04
    listed $150,000 Active 486-char remark

    Show marketing remark (486 chars)

    Senior 55+ community living in North Salinas, just outside of City limits! Seller may consider seller financing for qualified buyers with a substantial down payment. This updated 2 bedroom, 1 bath home features fresh laminate flooring, new carpet in the bedrooms, dual-pane windows and upgraded kitchen and bathroom countertops. Bright, clean and move-in ready. This home offers comfortable low-maintenance living in a well-maintained park close to shopping, dining and commuter access.

25. 2025-11-04
    listed $150,000 Active 486-char remark

    Show marketing remark (486 chars)

    Senior 55+ community living in North Salinas, just outside of City limits! Seller may consider seller financing for qualified buyers with a substantial down payment. This updated 2 bedroom, 1 bath home features fresh laminate flooring, new carpet in the bedrooms, dual-pane windows and upgraded kitchen and bathroom countertops. Bright, clean and move-in ready. This home offers comfortable low-maintenance living in a well-maintained park close to shopping, dining and commuter access.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 5 d/yr ≥81°F today · 10 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 11 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,610
• − Mortgage interest: −$6,722
• − Property taxes: −$1,800
• − Insurance: −$600
• − Repairs & maintenance: −$2,529
• − Management: −$2,529
• − Depreciation: −$3,491
• Taxable income: $13,939
• Est. tax owed @ 24.0%: −$3,345
• After-tax cash flow: $11,675/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: Salinas Union High
• NCES district ID: 0633980
• Math proficiency: 23% ▲ 2.00%
• Reading proficiency: 39% ▲ 1.00%
• Median HH income: $50,670
• Composite: 29.86/100
• National rank: #11691
• State rank: #998 of 1400 in CA

Livability — Salinas

• Score: 63/100
• State rank: #465
• US rank: #15876

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Monterey County · 241,191 people
• City population: 119,069
• Metro: Salinas, CA
• Population (ZIP): 25,146
• Household income: $104,942
• Rent vs Own: 31.8% rent · 68.2% own
• Severe rent burden: 590.0

Population outlook (Monterey County) Hauer SSP2

• Today (2025): 458,436 people
• By 2030: 469,418 · +2.4%
• By 2040: 489,615 · +6.8%
• By 2050: 506,696 · +10.5%
• By 2075: 531,048 · +15.8%
• By 2100: 519,153 · +13.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Hispanic / Latino 58% White 28% Two or more races 15% Asian 8% Black 1%
• Hispanic origin (detail): Mexican 53% Puerto Rican 1%
• Common ancestry: Lithuanian 2% Russian 2% Slovak 1%
• Foreign-born: 26% · Canada, Vietnam, China
• Languages at home: 48% English-only · Spanish 45% Tagalog/Filipino 2% Other Asian/Pacific 2%

Political lean MEDSL · Monterey

• 2024 margin: Strong D (+29.9) · D 63.4% · R 33.5% · Other 3.0%
• 2008→2024 swing: -8.4pp toward R · 2008: 38.3pp · 2024: 29.9pp
• All cycles: 2024: D+29.9 2020: D+41.3 2016: D+39.7 2012: D+33.9 2008: D+38.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -492.44%
• Current HPI: 290.6503
• Rent YoY: —
• Metro: Salinas, CA
• 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

-20.0% since first listed

10 events — show timeline

• 2026-05-11 Relisted — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-05-11 Relisted — MLSListings
• 2026-05-08 Pending — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-05-07 Contingent — MLSListings
• 2026-04-20 Price Changed $119,999 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-04-20 Price Changed $119,999 MLSListings
• 2026-03-19 Price Changed $132,999 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-03-19 Price Changed $132,999 MLSListings
• 2025-11-04 Listed $150,000 MLSListings
• 2025-11-04 Listed $150,000 bridgeMLS, Bay East AOR, or Contra Costa AOR

Property tax history

-4.4%/yr

Latest (2025): $81 · -53.7% YoY. Source: county tax records.