3998 Castro Valley Blvd #34 · Castro Valley, CA 94546

$65,000

1 bd · 1.0 ba · 624 sqft · Manufactured public records · 4 Days on market

Built 1983 $104/sqft · at area comps Est $64k · at est.

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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 +6.8/15.0
• Schools +5.9/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Offering one of the most affordable pathways to homeownership in the Bay Area & located in the heart of Castro Valley! This one bedroom one bathroom home has been updated and is located in an all ages park. Newer lighting, appliances, paint, flooring & exterior skirting. Offering the perfect blend of comfort & convenience. You won't want to miss out on this opportunity!

Key facts

• Newer flooring
• Updated
• Newer appliances

Tags

• HEART OF CASTRO VALLEY
• UPDATED
• NEWER LIGHTING
• NEWER APPLIANCES
• NEWER PAINT
• NEWER FLOORING

Property features AI

Finance

• Other: Located in Castro Valley, CA 94546; directions available
• Financial info: Land lease: No (land lease amount listed separately)
• HOA & community: No homeowner association; Not a senior community

Exterior

• Parking: Assigned parking; Guest parking available
• Utilities: Individual electric meter; Individual gas meter; 220V in laundry; Public water; Public sewer; Internet available
• Home design: Manufactured home in a park; Single wide; Hillcrest Homes (manufacturer), Caravelle model; Built in 1983
• Construction: Vinyl skirting
• Exterior features: Regular-shaped lot; Roof: See remarks

Interior

• Kitchen: Free standing gas range/oven; Hood over range; Pantry cabinet; Synthetic countertops
• Bedrooms: 1 bedroom
• Flooring: Laminate
• Bathrooms: 1 full bathroom with tub/shower combination
• Heating & cooling: Central heating (natural gas); Window air conditioning unit(s)
• Interior features: Covered patio and porch; Great room living area; Pantry cabinet; Synthetic countertops; Dining bar with kitchen space; Pets allowed (cats and dogs; number limit)
• Laundry & utility: Stacked washer/dryer included inside area; Gas water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $65k.

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 ($2k rent vs $65k).
• Cap rate 29.6% vs local median 1.8% in Castro Valley — 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 74/100 on livability (#129 in CA, #4,461 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, schools A; Watch: amenities F, cost of living F.
• Castro Valley Unified (suburban): math 60% / reading 69% proficiency, ranked #60 of 517 in CA (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+3.4%/yr); 108 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Alameda County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.4% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $65,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 3.34% ✓
• Cap rate: 29.62%
• Cash-on-cash: 83.31%
• DSCR: 4.71
• GRM: 2.5

CMA / ARV

• ARV (median comp): $64,039
• List price: $65,000
• Delta: 1.50%
• Verdict: FAIR
• Comps: 3 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3998 Castro Valley Blvd #16	0.06mi	1/1.0	600 (-4%)	16mo	$18,754	$31	78
3998 Castro Valley Blvd Spc 6	0.03mi	1/1.0	588 (-6%)	15mo	$30,000	$51	77
3998 Castro Valley Blvd #19	0.05mi	1/1.0	576 (-8%)	10mo	$40,000	$69	76
3998 Castro Valley Blvd Spc 27	0.02mi	2/1.0 (+1)	672 (+8%)	7mo	$65,000	$97	76
3913 Castro Valley Blvd #6	0.14mi	1/1.0	552 (-12%)	1mo	$74,000	$134	74
3913 Castro Valley Blvd #78	0.14mi	2/1.0 (+1)	552 (-12%)	15mo	$85,000	$154	57
3913 Castro Valley Blvd #5	0.14mi	1/1.0	540 (-14%)	19mo	$59,000	$109	55

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 · 3.37% rent growth · sell at horizon

5-year hold

• IRR: 84.1%
• Equity multiple: 4.89×
• Total profit: $70,787
• Equity at exit: $9,692

10-year hold

• IRR: 87.4%
• Equity multiple: 10.27×
• Total profit: $168,750
• Equity at exit: $5,620

Cash invested: $18,200 (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 94546

• Rents YoY: 3.4%
• Active inventory: 108
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $2,168 high
• Mortgage (P&I): −$341
• Tax est. 1.5%: −$81 /mo · $975/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $1,264

Break-even live

Break-even rent $569

Max offer price $65,000

Occupancy floor 37%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3958 Castro Valley Blvd Castro Valley, CA	2.0	1.0	750	$2,150	$2.87	43d	1	0.06mi
20673 Forest Ave Unit B Castro Valley, CA	2.0	1.0	750	$2,750	$3.67	4d	1	0.29mi
20446 Forest Ave Apt 2 Castro Valley, CA	—	1.0	400	$1,625	$4.06	1d	1	0.32mi
20446 Forest Ave Apt 1 Castro Valley, CA	—	1.0	400	$1,625	$4.06	18d	1	0.32mi
20446 Forest Ave Apt 22 Castro Valley, CA	—	1.0	400	$1,625	$4.06	24d	1	0.32mi
22160 Center St Castro Valley, CA	1.0–2.0	1.0–2.0	863	$2,307	$2.67	4d	6	0.33mi
22302 Center St Castro Valley, CA	1.0–2.0	1.0	809	$2,213	$2.74	1d	3	0.44mi
20928 Wilbeam Ave Unit 46 Castro Valley, CA	1.0	1.0	675	$1,895	$2.81	43d	1	0.61mi
2481 Grove Way Castro Valley, CA	1.0	1.0	707	$2,095	$2.96	3d	1	0.69mi
21006 Nunes Ave Unit A Castro Valley, CA	2.0	1.0	750	$2,600	$3.47	15d	1	0.92mi
20511 Anita Ave Apt 32 Castro Valley, CA	1.0	1.0	525	$1,965	$3.74	21d	1	1.05mi
22294 City Center Dr Hayward, CA	2.0	1.0–2.0	1016	$2,169	$2.13	12d	1	1.22mi
1327 Russell Way Hayward, CA	2.0	1.0	700	$2,295	$3.28	24d	1	1.26mi
20353 Park Way Castro Valley, CA	1.0	1.0	561	$2,145	$3.82	5d	3	1.32mi
22525 3rd St Hayward, CA	1.0–2.0	1.0–2.0	779	$2,110	$2.71	1d	8	1.33mi
19139 Vaughn Ave Castro Valley, CA	2.0	2.0	745	$3,995	$5.36	11d	1	1.34mi
1321 Terrace Ave Hayward, CA	1.0	1.0	750	$2,050	$2.73	43d	1	1.44mi
1201 B St Unit 18 Hayward, CA	1.0	1.0	645	$1,995	$3.09	5d	1	1.45mi
1201 B St Apt 25 Hayward, CA	1.0	1.0	645	$1,998	$3.10	43d	1	1.45mi
19972 Stanton Ave Castro Valley, CA	1.0–2.0	1.0	710	$1,895	$2.67	5d	2	1.46mi
19770 Sprague Ct Castro Valley, CA	1.0	1.0	700	$2,700	$3.86	43d	1	1.47mi
22335 Foothill Blvd Hayward, CA	3.0	1.0–2.0	1160	$3,132	$2.70	1d	42	1.48mi

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥88°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 12 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,017
• − Mortgage interest: −$3,641
• − Property taxes: −$975
• − Insurance: −$325
• − Repairs & maintenance: −$2,081
• − Management: −$2,081
• − Depreciation: −$1,891
• Taxable income: $15,022
• Est. tax owed @ 24.0%: −$3,605
• After-tax cash flow: $11,557/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: Castro Valley Unified
• NCES district ID: 0607800
• Math proficiency: 60% ▼ -3.00%
• Reading proficiency: 69% ▲ 1.00%
• Median HH income: $94,532
• Composite: 59.03/100
• National rank: #959
• State rank: #60 of 517 in CA

Livability — Castro Valley

• Score: 74/100
• State rank: #129
• US rank: #4461

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Castro Valley, CA
• County: Alameda County · 1,614,355 people
• City population: 59,361
• Metro: San Francisco-Oakland-Berkeley, CA
• Population (ZIP): 44,855
• Household income: $128,385
• Rent vs Own: 33.7% rent · 66.3% own
• Severe rent burden: 1354.0

Population outlook (Alameda County) Hauer SSP2

• Today (2025): 1,928,884 people
• By 2030: 2,069,146 · +7.3%
• By 2040: 2,338,405 · +21.2%
• By 2050: 2,586,608 · +34.1%
• By 2075: 3,061,911 · +58.7%
• By 2100: 3,234,133 · +67.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.73)
• Race & ethnicity: White 36% Asian 31% Hispanic / Latino 20% Two or more races 13% Black 8% Native American 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Russian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 28% · China, Canada, Vietnam
• Languages at home: 61% English-only · Chinese 14% Spanish 10% Other Indo-European 3%

Political lean MEDSL · Alameda

• 2024 margin: Solid D (+53.6) · D 74.6% · R 21.0% · Other 4.4%
• 2008→2024 swing: -5.9pp toward R · 2008: 59.5pp · 2024: 53.6pp
• All cycles: 2024: D+53.6 2020: D+62.5 2016: D+64.4 2012: D+59.8 2008: D+59.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -934.25%
• Current HPI: 334.4167
• Rent YoY: ▲ 3.37%
• Metro: San Francisco-Oakland-Berkeley, 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

Property tax history

+0.0%/yr

Latest (2025): $126 · +5.9% YoY. Source: county tax records.