532A Millpond Dr Unit 532A · San Jose, CA 95125

$289,888

2 bd · 2.0 ba · 1,440 sqft · Manufactured · 112 Days on market

Built 1991 $201/sqft · 20% below area Est $362k · 20% 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 +29.7/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• Schools +5.5/10.0
• Livability +3.9/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

WONDERFULL CORNER LOT WITH FULL LENGTH FRONT DECK, LOCATED IN PREMIEER SAN JOSE PARK ,SHEET ROCK WALLS, LAMINATE FLOORS DUAL PANE WINDOWS, VAULTED CEILING, CUSTOM LEADED GLASS FRONT DOOR. GRANITE COUNTERS S.S APPLIANCES, OVERSIZED LAUNDRY ROOM ,TWO WALK IN CLOSETS, CENTRAL A/C .WALK TO GREAT SHOPPING & BUS BEST DEAL IN FIVE STAR COMMUNITY.

Key facts

• Laminate floors
• Sheet rock walls
• Vaulted ceiling

Tags

• CORNER LOT
• FULL LENGTH FRONT DECK
• SHEET ROCK WALLS
• LAMINATE FLOORS
• DUAL PANE WINDOWS
• VAULTED CEILING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $290k.

Deal economics

• At list price, monthly cash flow is $902 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $290k).
• Recommended offer: $264k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.7% vs local median 1.6% in San Jose — 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 78/100 on livability (#68 in CA, #2,559 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: crime F, cost of living F.
• East Side Union High (urban): math 53% / reading 70% proficiency, ranked #69 of 517 in CA (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+4.0%/yr); 119 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 3,838 units permitted in Santa Clara County in 2024 (1,886 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Santa Clara County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 4.0% rent growth), your $81k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 112 days — a 9% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 16y 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 $194k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $152/mo.
• Climate carrying-cost: in FEMA flood zone AH (mandatory federal flood insurance); extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $263,798 (9.0% below list)

Questions for the listing agent

1. It's been on market 112 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.34% ✓
• Cap rate: 10.66%
• Cash-on-cash: 15.59%
• DSCR: 1.69
• GRM: 6.2

CMA / ARV

• ARV (median comp): $361,879
• List price: $289,888
• Delta: -19.89%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
485 Millpond Dr #485	0.09mi	2/2.0	1,440 (0%)	2mo	$339,000	$235	94
499 Millpond Dr #499	0.08mi	3/2.0 (+1)	1,440 (0%)	0mo	$380,000	$264	91
337 Mill Pond Dr #337	0.21mi	2/2.0	1,440 (0%)	1mo	$220,000	$153	89
375 S Millpond Dr #375	0.07mi	2/2.0	1,512 (+5%)	4mo	$280,000	$185	85
451 Millpond Dr #451	0.16mi	2/2.0	1,488 (+3%)	9mo	$280,000	$188	80
556 Millpond Dr #556	0.21mi	3/2.0 (+1)	1,488 (+3%)	1mo	$279,900	$188	79
380 Millpond Dr #380	0.04mi	2/2.0	1,296 (-10%)	9mo	$275,000	$212	74
707 Millstream Dr #707	0.27mi	2/2.0	1,536 (+7%)	3mo	$320,000	$208	73
486 Millpond Dr #486	0.08mi	3/2.0 (+1)	1,559 (+8%)	6mo	$350,000	$225	72
401 Chateau La Salle #401	0.74mi	2/2.0	1,440 (0%)	1mo	$370,000	$257	65
464 Mill Pond Dr #464	0.08mi	3/3.0 (+1)	1,632 (+13%)	8mo	$272,000	$167	58
393 Chateau La Salle Dr #393	0.71mi	3/3.0 (+1)	1,488 (+3%)	2mo	$492,000	$331	51

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 · 3.97% rent growth · sell at horizon

5-year hold

• IRR: 4.5%
• Equity multiple: 1.18×
• Total profit: $14,461
• Equity at exit: $43,223

10-year hold

• IRR: 15.0%
• Equity multiple: 2.27×
• Total profit: $103,173
• Equity at exit: $25,064

Cash invested: $81,169 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City San Jose: 0 Strongly Tenant-Friendly · D+24

Apartment Rent Ordinance covers pre-1979 multifamily.

Methodology + full state rankings →

ZIP-level market 95125

• Rents YoY: 4.0%
• Active inventory: 119
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $3,871 high
• Mortgage (P&I): −$1,520
• Tax est. 1.5%: −$362 /mo · $4,348/yr
• Insurance: −$121
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$813
• Net cashflow: $902

Break-even live

Break-even rent $2,728

Max offer price $289,888

Occupancy floor 72%

Sensitivity live

Price	-10% $1,103	-5% $1,002	+0% $902	+5% $802	+10% $702
Rent	-10% $597	-5% $749	+0% $902	+5% $1,055	+10% $1,208
Rate	-1.0pp $1,048	-0.5pp $976	base $902	+0.5pp $827	+1.0pp $751

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: $72,472
• Closing costs: $8,697
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
334 Olive Hill Dr San Jose, CA	2.0	3.0	1368	$4,150	$3.03	2d	1	0.28mi
262 Azevedo Cir #1603 San Jose, CA	3.0	3.0	1620	$3,720	$2.30	2d	1	0.35mi
1277 Babb Ct San Jose, CA	2.0	2.0	1123	$3,550	$3.16	5d	3	0.39mi
2212 Almaden Rd Unit B San Jose, CA	2.0	2.0	1200	$3,195	$2.66	5d	1	0.52mi
2070 Mary Helen Ln San Jose, CA	3.0	4.0	1781	$4,600	$2.58	2d	1	0.55mi
590 Almaden Walk Loop San Jose, CA	3.0	3.0	1425	$3,995	$2.80	44d	1	0.65mi
2988 Grassina St #309 San Jose, CA	2.0	2.0	1048	$3,600	$3.44	2d	1	0.66mi
1036 Cumberland Pl San Jose, CA	2.0	2.0	1264	$5,375	$4.25	44d	1	0.89mi
45 Esfahan Dr San Jose, CA	3.0	2.5	1794	$4,395	$2.45	2d	1	0.95mi
559 Manor Dr Unit NA San Jose, CA	2.0	1.5	1200	$3,300	$2.75	44d	1	0.97mi
2986 Lina St #7 San Jose, CA	3.0	3.0	1813	$5,500	$3.03	17d	1	0.97mi
3200 Rubino Dr San Jose, CA	1.0–2.0	1.0–2.0	928	$3,740	$4.03	3d	1	0.98mi
3024 Goodacre Pl San Jose, CA	3.0	2.5	1431	$2,200	$1.54	44d	1	0.98mi
3157 Regency Ave #612 San Jose, CA	2.0	2.5	1282	$4,195	$3.27	3d	1	1.03mi
2905 Old Almaden Rd San Jose, CA	1.0	1.0	850	$2,322	$2.73	4d	3	1.05mi
1109 Lincoln Ct San Jose, CA	2.0	2.0	1118	$3,600	$3.22	3d	1	1.09mi
1866 Glen Una Ave San Jose, CA	3.0	2.0	1359	$4,500	$3.31	4d	1	1.10mi
818 Foxworthy Ave San Jose, CA	3.0	2.5	1589	$4,700	$2.96	21d	1	1.10mi
818 Foxworthy Ave San Jose, CA	3.0	2.5	1589	$4,700	$2.96	18d	1	1.10mi
3115 Tuscolana Way #1595 San Jose, CA	3.0	2.5	1580	$4,430	$2.80	17d	1	1.11mi
318 Araglin Ct San Jose, CA	2.0	2.0	1168	$3,300	$2.83	4d	1	1.26mi
3089 Valley of Hearts Delight Pl #5 San Jose, CA	2.0	2.0	1668	$5,195	$3.11	2d	1	1.28mi
1232 Malone Rd San Jose, CA	3.0	3.0	1711	$6,995	$4.09	17d	1	1.33mi
200 Lewis Rd San Jose, CA	1.0–3.0	1.0–2.0	867	$2,551	$2.94	2d	1	1.40mi
3601 Copperfield Dr San Jose, CA	1.0–3.0	1.0–3.0	1088	$3,774	$3.47	2d	27	1.41mi
1619 Lincoln Ave San Jose, CA	2.0	1.0	1236	$3,900	$3.16	5d	1	1.42mi
1395 Vine St San Jose, CA	3.0	1.0	1500	$3,525	$2.35	24d	1	1.47mi

Listing history 31 events

1. 2026-06-21
   days on market $289,888 Active 112 DOM
2. 2026-06-18
   days on market $289,888 Active 109 DOM
3. 2026-06-17
   days on market $289,888 Active 108 DOM
4. 2026-06-16
   days on market $289,888 Active 107 DOM
5. 2026-06-15
   days on market $289,888 Active 106 DOM
6. 2026-06-13
   days on market $289,888 Active 104 DOM
7. 2026-06-13
   days on market $289,888 Active 103 DOM
8. 2026-06-09
   days on market $289,888 Active 100 DOM
9. 2026-06-08
   days on market $289,888 Active 99 DOM
10. 2026-06-07
    days on market $289,888 Active 98 DOM
11. 2026-06-05
    days on market $289,888 Active 95 DOM
12. 2026-06-03
    days on market $289,888 Active 94 DOM
13. 2026-06-02
    days on market $289,888 Active 93 DOM
14. 2026-06-01
    days on market $289,888 Active 92 DOM
15. 2026-05-31
    days on market $289,888 Active 91 DOM
16. 2026-05-01
    status Active 345-char remark

    Show marketing remark (345 chars)

    WONDERFULL CORNER LOT WITH FULL LENGTH FRONT DECK, LOCATED IN PREMIEER SAN JOSE PARK ,SHEET ROCK WALLS, LAMINATE FLOORS DUAL PANE WINDOWS, VAULTED CEILING, CUSTOM LEADED GLASS FRONT DOOR. GRANITE COUNTERS S.S APPLIANCES, OVERSIZED LAUNDRY ROOM ,TWO WALK IN CLOSETS, CENTRAL A/C .WALK TO GREAT SHOPPING & BUS BEST DEAL IN FIVE STAR COMMUNITY.

17. 2026-05-01
    status Active 345-char remark

    Show marketing remark (345 chars)

    WONDERFULL CORNER LOT WITH FULL LENGTH FRONT DECK, LOCATED IN PREMIEER SAN JOSE PARK ,SHEET ROCK WALLS, LAMINATE FLOORS DUAL PANE WINDOWS, VAULTED CEILING, CUSTOM LEADED GLASS FRONT DOOR. GRANITE COUNTERS S.S APPLIANCES, OVERSIZED LAUNDRY ROOM ,TWO WALK IN CLOSETS, CENTRAL A/C .WALK TO GREAT SHOPPING & BUS BEST DEAL IN FIVE STAR COMMUNITY.

18. 2026-04-15
    status Pending 345-char remark

    Show marketing remark (345 chars)

    WONDERFULL CORNER LOT WITH FULL LENGTH FRONT DECK, LOCATED IN PREMIEER SAN JOSE PARK ,SHEET ROCK WALLS, LAMINATE FLOORS DUAL PANE WINDOWS, VAULTED CEILING, CUSTOM LEADED GLASS FRONT DOOR. GRANITE COUNTERS S.S APPLIANCES, OVERSIZED LAUNDRY ROOM ,TWO WALK IN CLOSETS, CENTRAL A/C .WALK TO GREAT SHOPPING & BUS BEST DEAL IN FIVE STAR COMMUNITY.

19. 2026-04-15
    status Pending (Do Not Show) 345-char remark

    Show marketing remark (345 chars)

    WONDERFULL CORNER LOT WITH FULL LENGTH FRONT DECK, LOCATED IN PREMIEER SAN JOSE PARK ,SHEET ROCK WALLS, LAMINATE FLOORS DUAL PANE WINDOWS, VAULTED CEILING, CUSTOM LEADED GLASS FRONT DOOR. GRANITE COUNTERS S.S APPLIANCES, OVERSIZED LAUNDRY ROOM ,TWO WALK IN CLOSETS, CENTRAL A/C .WALK TO GREAT SHOPPING & BUS BEST DEAL IN FIVE STAR COMMUNITY.

20. 2026-02-13
    listed $289,888 Active 345-char remark

    Show marketing remark (345 chars)

    WONDERFULL CORNER LOT WITH FULL LENGTH FRONT DECK, LOCATED IN PREMIEER SAN JOSE PARK ,SHEET ROCK WALLS, LAMINATE FLOORS DUAL PANE WINDOWS, VAULTED CEILING, CUSTOM LEADED GLASS FRONT DOOR. GRANITE COUNTERS S.S APPLIANCES, OVERSIZED LAUNDRY ROOM ,TWO WALK IN CLOSETS, CENTRAL A/C .WALK TO GREAT SHOPPING & BUS BEST DEAL IN FIVE STAR COMMUNITY.

21. 2026-02-13
    listed $289,888 Active 345-char remark

    Show marketing remark (345 chars)

    WONDERFULL CORNER LOT WITH FULL LENGTH FRONT DECK, LOCATED IN PREMIEER SAN JOSE PARK ,SHEET ROCK WALLS, LAMINATE FLOORS DUAL PANE WINDOWS, VAULTED CEILING, CUSTOM LEADED GLASS FRONT DOOR. GRANITE COUNTERS S.S APPLIANCES, OVERSIZED LAUNDRY ROOM ,TWO WALK IN CLOSETS, CENTRAL A/C .WALK TO GREAT SHOPPING & BUS BEST DEAL IN FIVE STAR COMMUNITY.

22. 2017-11-01
    soldstatus $194,500 Sold
23. 2017-10-18
    historical Contingent
24. 2017-09-15
    status Active
25. 2017-08-08
    historical
26. 2017-07-14
    listed $197,900 Active
27. 2011-03-28
    soldstatus $65,000 Sold
28. 2011-03-17
    status Pending (Do Not Show)
29. 2011-03-17
    historical
30. 2010-11-11
    price $76,000
31. 2010-09-22
    listed $82,500 Active

ⓘ 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 4/10 Moderate FEMA zone AH · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥94°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 17 unhealthy d/yr today · 17 by 30 yrs out

Taxation est. · year 1

• Rental income: $46,446
• − Mortgage interest: −$16,238
• − Property taxes: −$4,348
• − Insurance: −$3,274
• − Repairs & maintenance: −$3,716
• − Management: −$3,716
• − Depreciation: −$8,433
• Taxable income: $6,721
• Est. tax owed @ 24.0%: −$1,613
• After-tax cash flow: $9,215/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: East Side Union High
• NCES district ID: 0611820
• Math proficiency: 53% ▲ 12.00%
• Reading proficiency: 70% ▲ 8.00%
• Median HH income: $80,293
• Composite: 55.15/100
• National rank: #1278
• State rank: #69 of 517 in CA

Livability — San Jose

• Score: 78/100
• State rank: #68
• US rank: #2559

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: San Jose, CA
• County: Santa Clara County · 1,806,974 people
• City population: 954,479
• Metro: San Jose-Sunnyvale-Santa Clara, CA
• Population (ZIP): 54,419
• Household income: $160,738
• Rent vs Own: 38.9% rent · 61.1% own
• Severe rent burden: 1772.0

Population outlook (Santa Clara County) Hauer SSP2

• Today (2025): 2,179,074 people
• By 2030: 2,301,297 · +5.6%
• By 2040: 2,528,195 · +16.0%
• By 2050: 2,712,135 · +24.5%
• By 2075: 2,998,701 · +37.6%
• By 2100: 2,931,429 · +34.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 47% Hispanic / Latino 29% Asian 17% Two or more races 17% Black 2%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Italian 3% Lithuanian 2% Romanian 2%
• Foreign-born: 24% · Canada, China, Vietnam
• Languages at home: 65% English-only · Spanish 18% Other Indo-European 4% Chinese 3%

Political lean MEDSL · Santa Clara

• 2024 margin: Solid D (+40.0) · D 68.1% · R 28.1% · Other 3.8%
• 2008→2024 swing: -0.9pp no change · 2008: 40.9pp · 2024: 40.0pp
• All cycles: 2024: D+40.0 2020: D+47.4 2016: D+52.5 2012: D+42.1 2008: D+40.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1489.34%
• Current HPI: 364.2721
• Rent YoY: ▲ 3.97%
• Metro: San Jose-Sunnyvale-Santa Clara, 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

+251.4% since first listed

16 events — show timeline

• 2026-05-01 Relisted — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-05-01 Relisted — MLSListings
• 2026-04-15 Pending — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-04-15 Pending — MLSListings
• 2026-02-13 Listed $289,888 MLSListings
• 2026-02-13 Listed $289,888 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2017-11-01 Sold (MLS) $194,500 MLSListings
• 2017-10-18 Contingent — MLSListings
• 2017-09-15 Relisted — MLSListings
• 2017-08-08 Listing Removed — MLSListings
• 2017-07-14 Listed $197,900 MLSListings
• 2011-03-28 Sold (MLS) $65,000 MLSListings
• 2011-03-17 Pending — MLSListings
• 2011-03-17 Listing Removed — MLSListings
• 2010-11-11 Price Changed $76,000 MLSListings
• 2010-09-22 Listed $82,500 MLSListings