6400 66th Ave #14

Florin, CA 95823

$139,000D

1 bd · 1.0 ba · 636 sqft · Built 1984 · Condo · Active · 172 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,566/mo
• Mortgage (P&I): −$729
• Tax + insurance: −$225
• HOA: −$515
• Vac / Maint / Mgmt: −$329
• Net cashflow: $-232/mo
• Annual: $-2,787/yr
• Cap rate: 4.29%
• Cash-on-cash: -7.16%
• DSCR: 0.68
• 1% rule: 1.13%
• Cash to close: $38,920

Investor read

• This is a 1-bed/1.0-bath condo listed at $139k.
• At list price, monthly cash flow is $-232 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $98k (29.5% below list).
• Meets the 1% rule at list price ($2k rent vs $139k).
• It's been on market 172 days — a 12% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $98k (29.5% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $961 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 58/100 on livability (#673 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A; Watch: employment D, schools D-, crime F.
• Elk Grove Unified (suburban): math 40% / reading 51% proficiency, ranked #165 of 517 in CA (top 32%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: HOA is 33% of rent.
• Market conditions: Rents flat; 186 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 weeks tenant-placement turnaround); 6,825 units permitted in Sacramento County in 2024 (1,752 in 5+ unit buildings).
• Sacramento County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 172 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• 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?
• Crime grade is F 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?