64 Oneida

Oakley, CA 94581

$110,000B-

2 bd · 1.0 ba · 790 sqft · Built — · Manufactured · Active · 78 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,986/mo
• Mortgage (P&I): −$577
• Tax + insurance: −$183
• HOA: −$0
• Vac / Maint / Mgmt: −$417
• Net cashflow: $809/mo
• Annual: $9,704/yr
• Cap rate: 15.11%
• Cash-on-cash: 31.50%
• DSCR: 2.40
• 1% rule: 1.81%
• Cash to close: $30,800

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $110k. Condition is rated good.
• At list price, monthly cash flow is $809 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• It's been on market 78 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $103k (6.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($761 loan paydown + $3k appreciation (3.0% local appreciation)).
• Location reads 60/100 on livability (#608 in CA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: schools D-, amenities F, commute F.
• Antioch Unified (suburban): math 29% / reading 55% proficiency, ranked #200 of 517 in CA (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 1 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 2,169 units permitted in Contra Costa County in 2024 (896 in 5+ unit buildings).
• Contra Costa County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 15.1% vs local median 3.3% in Oakley — 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

• It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• 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 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?
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: kitchen cabinets — Older cabinets need updating
• Moderate: kitchen appliances — Outdated appliances need replacing
• Moderate: bathroom vanity — Older vanity needs updating
• Moderate: bathroom tile — Dated tile needs replacing