765 Mesa View Dr #216 · Callender, CA 93420

$235,000

2 bd · 2.0 ba · 1,368 sqft · Manufactured public records · 10 Days on market

Built 1999 Est $252k · 7% under

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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 +29.4/30.0
• ARV discount +10.5/15.0
• DSCR +10.0/10.0
• 1% rule +7.1/10.0
• Schools +4.5/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Don't Wait! Start Enjoying Central Coast Living in This Beautiful, Well Maintained Home. It's Rare to Find A Home Like This One with a Cul-de-sac Location. It Sits On One of the Largest Fenced Lots in the Premier Mesa Dunes Mobile Home Estates. Home is Bright and Cheery with a Spacious, Open Floor Plan, Vaulted Ceilings, and a Den/Office that could be a Third Bedroom with it's Own Entrance. Features a Large Primary Bedroom with Soaking Tub, Dual Vanities, Separate Shower and Indoor Laundry Room. Living Room opens to Dining Room and Kitchen with Breakfast Bar. Outdoor Space is Great with a Low Maintenance Rock Yard which includes Fruit Trees in a Raised Flowerbed w/ Irrigation and a Garden Shed. Mesa Dunes Offers Ocean Views, Parks, 2 Clubhouses, 2 Pools, Spa, and Fitness Trails. Buyers Must Apply for Park Approval. New Lease Approximately $1230 to Be Verified with Park Management.

Key facts

• Cul-de-sac location
• Largest fenced lots
• Open floor plan

Tags

• CUL-DE-SAC LOCATION
• FRONT SITTING PORCH
• LARGEST FENCED LOTS
• OPEN FLOOR PLAN
• SPACIOUS PRIMARY EN-SUITE
• SOAKING TUB

Property features AI

Finance

• Other: Directions: Highway 1 to 1/2 mile south of Halcyon; turn left into Mesa Dunes, right on Mesa Grande, left on Taos St., then left on Santa Fe; Paved road access via highway
• Financial info: Land lease of $1,236 monthly (park)
• HOA & community: Part of an association; Park name: Mesa Dunes Mobile Home Estates; Community features include gutters, curbs, street lighting, and a park; Manager approval required; Pets allowed (dogs and cats OK; breed restrictions and number limits apply)

Exterior

• Parking: Five parking spaces total; Three uncovered spaces; Two carport spaces (attached, oversized, side-by-side); Concrete driveway
• Security: Smoke detector
• Utilities: Shared well water; Community septic; Natural gas connected; Electricity connected; Cable available; Water connected
• Home design: Single-story home; Mobile home model Westwood (24' x 64'); Mobile home remains; Entry level: 1; Has view; Located on a cul-de-sac; landscaped yard with drip sprinklers and rock accents; front yard
• Construction: Wood construction; Shingle/asphalt roof; Wood skirt; Foundation with seismic tie-down and pier jacks; One story
• Exterior features: Covered front porch; Awning; Rain gutters; Satellite dish; Wood fencing; Has patio; Pool/spa via association (in-ground, heated); Shed

Interior

• Kitchen: Refrigerator; Gas range with range/stove hood; Dishwasher; Formica counters; Kitchen open to family room; Water heater unit (gas)
• Bedrooms: All bedrooms on main floor; Main floor primary bedroom; Office
• Flooring: Laminate flooring
• Bathrooms: Two full bathrooms; Bathtub and separate tub and shower; Shower in tub; Low-flow shower and low-flow toilet(s)
• Heating & cooling: Natural gas heating; Forced air
• Interior features: Ceiling fan; Open floor plan; Cathedral/vaulted ceilings; Formica counters; Double pane windows with blinds and screens; Smoke detector; Has spa (association, in-ground, heated)
• Laundry & utility: Laundry room inside (individual room); Washer included; Dryer included; 220V in laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $235k.

Deal economics

• At list price, monthly cash flow is $837 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $235k).

Location & tenants

• Location reads 52/100 on livability (#1,037 in CA) — a working-class tenant base; expect higher turnover. Strengths: crime A+, employment A+; Watch: schools D, amenities F, commute F.
• Lucia Mar Unified (town): math 42% / reading 56% proficiency, ranked #433 of 1,400 in CA (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 94 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 1,104 units permitted in San Luis Obispo County in 2024 (273 in 5+ unit buildings).
• This rent runs 31% of the median local income ($111k/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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• San Luis Obispo County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $66k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 19y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $196k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $235,000

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 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?
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: 1.21% ✓
• Cap rate: 10.57%
• Cash-on-cash: 15.26%
• DSCR: 1.68
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $251,712
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
765 Mesa View Dr #290	0.00mi	3/2.0 (+1)	1,320 (-4%)	1mo	$270,000	$205	88
765 Mesa View Dr #155	0.00mi	2/2.0	1,296 (-5%)	12mo	$100,000	$77	82
765 Mesa View Dr #152	0.00mi	3/2.0 (+1)	1,288 (-6%)	12mo	$245,000	$190	76
765 Mesa View Dr #199	0.00mi	3/2.0 (+1)	1,248 (-9%)	9mo	$175,000	$140	73
765 Mesa View Dr #30	0.00mi	2/2.0	1,200 (-12%)	8mo	$234,900	$196	73
765 Mesa View Dr #137	0.00mi	3/2.0 (+1)	1,550 (+13%)	0mo	$290,000	$187	72
765 Mesa View Dr #293	0.00mi	3/2.0 (+1)	1,248 (-9%)	11mo	$230,000	$184	72
765 Mesa View Dr #269	0.00mi	3/2.0 (+1)	1,512 (+10%)	9mo	$179,000	$118	70
765 Mesa View Dr #13	0.00mi	3/2.0 (+1)	1,534 (+12%)	6mo	$350,000	$228	70
765 Mesa View Dr #272	0.00mi	3/2.0 (+1)	1,248 (-9%)	13mo	$145,000	$116	69
765 Mesa View Dr #280	0.00mi	3/2.0 (+1)	1,512 (+10%)	10mo	$219,900	$145	69
765 Mesa View Dr #226	0.00mi	3/2.0 (+1)	1,225 (-10%)	12mo	$215,000	$176	68

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: 5.9%
• Equity multiple: 1.23×
• Total profit: $15,127
• Equity at exit: $35,039

10-year hold

• IRR: 15.3%
• Equity multiple: 2.24×
• Total profit: $81,439
• Equity at exit: $20,319

Cash invested: $65,800 (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 93420

• Active inventory: 94
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,843 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$79 /mo · $951/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$597
• Net cashflow: $837

Break-even live

Break-even rent $1,784

Max offer price $235,000

Occupancy floor 66%

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
765 Mesa View Dr #57 Arroyo Grande, CA	2.0	2.0	1440	$2,775	$1.93	43d	1	0.03mi

Listing history 9 events

1. 2026-06-18
   days on market $235,000 Active 10 DOM
2. 2026-06-17
   days on market $235,000 Active 9 DOM
3. 2026-06-16
   days on market $235,000 Active 8 DOM
4. 2026-06-15
   days on market $235,000 Active 7 DOM
5. 2026-06-14
   days on market $235,000 Active 5 DOM
6. 2026-06-13
   days on market $235,000 Active 4 DOM
7. 2026-06-10
   days on market $235,000 Active 2 DOM
8. 2026-06-09
   remarks 693-char remark
9. 2026-06-09
   listed $235,000 Active 1 DOM

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

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $951 · $79/mo
• Projected year-2 tax: $1,786 · $149/mo
• Expected delta: +$835/yr (+$70/mo · 87.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 4/10 Moderate 5 d/yr ≥79°F today · 10 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 9 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,121
• − Mortgage interest: −$13,164
• − Property taxes: −$951
• − Insurance: −$1,175
• − Repairs & maintenance: −$2,730
• − Management: −$2,730
• − Depreciation: −$6,836
• Taxable income: $6,536
• Est. tax owed @ 24.0%: −$1,569
• After-tax cash flow: $8,473/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: Lucia Mar Unified
• NCES district ID: 0623080
• Math proficiency: 42% ▲ 3.00%
• Reading proficiency: 56% ▲ 2.00%
• Median HH income: $62,681
• Composite: 45.19/100
• National rank: #5782
• State rank: #433 of 1400 in CA

Livability — Callender

• Score: 52/100
• State rank: #1037
• US rank: #25071

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: San Luis Obispo County · 224,651 people
• Metro: San Luis Obispo-Paso Robles, CA
• Population (ZIP): 31,345
• Household income: $110,553
• Rent vs Own: 33.6% rent · 66.4% own
• Severe rent burden: 882.0

Population outlook (San Luis Obispo County) Hauer SSP2

• Today (2025): 306,977 people
• By 2030: 320,378 · +4.4%
• By 2040: 343,933 · +12.0%
• By 2050: 366,853 · +19.5%
• By 2075: 428,329 · +39.5%
• By 2100: 460,687 · +50.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Two or more races 18% Hispanic / Latino 17% Asian 3%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Italian 4% Slovak 4% Lithuanian 3%
• Foreign-born: 6% · Canada, China, South Korea
• Languages at home: 91% English-only · Spanish 5% Chinese 1% Other Asian/Pacific 1%

Political lean MEDSL · San Luis Obispo

• 2024 margin: D (+10.9) · D 53.9% · R 43.1% · Other 3.0%
• 2008→2024 swing: +5.5pp toward D · 2008: 5.4pp · 2024: 10.9pp
• All cycles: 2024: D+10.9 2020: D+13.1 2016: D+8.3 2012: D+1.0 2008: D+5.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -798.57%
• Current HPI: 348.2038
• Rent YoY: —
• Metro: San Luis Obispo-Paso Robles, 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

+147.4% since first listed

23 events — show timeline

• 2026-06-08 Listed $235,000 CRMLS
• 2021-12-13 Sold (MLS) $196,000 CRMLS
• 2021-12-13 Pending — CRMLS
• 2021-11-16 Contingent — CRMLS
• 2021-10-28 Listed $209,000 CRMLS
• 2020-10-19 Relisted — CRMLS
• 2020-10-19 Listing Removed — CRMLS
• 2020-04-24 Listed $170,000 CRMLS
• 2020-04-24 Listing Removed — CRMLS
• 2020-04-07 Relisted — CRMLS
• 2020-04-07 Delisted — CRMLS
• 2020-03-23 Delisted — CRMLS
• 2019-12-02 Listed $170,000 CRMLS
• 2017-03-25 Listing Removed — NSBCRMLS
• 2014-03-13 Listing Removed — CRMLS
• 2014-03-01 Pending — CRMLS
• 2014-01-28 Price Changed $105,000 CRMLS
• 2014-01-03 Listed $99,000 CRMLS
• 2014-01-03 Listed $105,000 NSBCRMLS
• 2008-01-18 Sold (MLS) $90,000 CRMLS
• 2008-01-18 Sold (MLS) $90,000 NSBCRMLS
• 2007-12-12 Listed $95,000 CRMLS
• 2007-12-12 Listed $95,000 NSBCRMLS

Property tax history

+3.3%/yr

Latest (2025): $951 · +3.5% YoY. Source: county tax records.