1122 Via Hielo · Santa Maria, CA 93454

$159,999

2 bd · 2.0 ba · 1,344 sqft · Manufactured · 146 Days on market

Built 1972 436 sqft lot Est $144k · 11% over $1132/mo HOA · 43% of rent

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Why this score? — see what drove the D- 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).

• 1% rule +10.0/10.0
• Cash flow +8.9/30.0
• Livability +3.6/5.0
• Rent growth +3.3/5.0
• Schools +2.9/10.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0
• ARV discount +2.4/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this well-maintained 2-bedroom, 2-bath manufactured home offering 1,344 sq ft of comfortable living in a desirable 55+ community. The home features new flooring and fresh interior paint, creating a bright and inviting atmosphere throughout. The spacious kitchen offers oak cabinetry, solid-surface countertops, and a cozy breakfast nook, along with a separate formal dining area. Vaulted ceilings and a fireplace enhance the open living room, providing a warm and welcoming space. The primary suite includes a walk-in closet, soaking tub, separate shower, and dual vanities. A second bedroom offers flexibility for guests, hobbies, or a home office. Enjoy outdoor living with a nicely siz

Key facts

• Cozy breakfast nook
• Oak cabinetry
• New flooring

Tags

• NEW FLOORING
• FRESH INTERIOR PAINT
• OAK CABINETRY
• SOLID SURFACE COUNTERTOPS
• COZY BREAKFAST NOOK
• FORMAL DINING AREA

Property features AI

Finance

• HOA & community: Has association; Monthly association fee of $1,132 (includes trash); Community pool; Age-restricted community

Exterior

• Utilities: Public water; Sewer available
• Home design: Manufactured home
• Construction: Aluminum siding; Raised foundation; Shingle roof; Built as a manufactured home (building area about 1,344 from tax records)
• Exterior features: Covered patio; Tool shed; Corner lot

Interior

• Kitchen: Oven; Refrigerator
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating
• Interior features: Carpet flooring; Customized wheelchair accessible with wide doors and an accessible ramp
• Laundry & utility: Inside laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $160k.

Deal economics

• At list price, monthly cash flow is $-128 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $137k (14.1% below list).
• Meets the 1% rule at list price ($3k rent vs $160k).
• Recommended offer: $137k (14.1% below list) — sets the bar for cash-flow.
• Cap rate 5.3% vs local median 3.5% in Santa Maria — 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 71/100 on livability (#202 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A; Watch: schools F, crime F, cost of living F.
• Santa Maria-Bonita (urban): math 26% / reading 34% proficiency, ranked #1,023 of 1,400 in CA (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.3%/yr); 79 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 719 units permitted in Santa Barbara County in 2024 (217 in 5+ unit buildings).
• This rent runs 39% of the median local income ($82k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Santa Barbara County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 146 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 43% of rent.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $137,436 (14.1% below list)

Questions for the listing agent

1. 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?
2. It's been on market 146 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
3. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. 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: 1.64% ✓
• Cap rate: 5.34%
• Cash-on-cash: -3.42%
• DSCR: 0.85
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $143,808
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1632 Via Undoso	0.13mi	2/2.0	1,320 (-2%)	8mo	$149,000	$113	84
1127 Via Contento	0.19mi	2/2.0	1,392 (+4%)	6mo	$115,000	$83	80
1403 Via Asueto	0.22mi	2/2.0	1,440 (+7%)	2mo	$210,000	$146	76
1205 Via Hielo	0.06mi	2/2.0	1,248 (-7%)	15mo	$65,000	$52	73
1627 Via Sabroso	0.10mi	2/2.0	1,440 (+7%)	12mo	$60,000	$42	73
1608 Via Undoso	0.19mi	2/2.0	1,284 (-4%)	17mo	$134,000	$104	70
1620 Via Ynez	0.16mi	3/2.0 (+1)	1,488 (+11%)	1mo	$165,000	$111	69
1651 Via Quantico	0.03mi	3/2.0 (+1)	1,521 (+13%)	4mo	$200,000	$131	68
1127 Via Estio	0.12mi	2/2.0	1,536 (+14%)	7mo	$152,000	$99	65
1602 Via Tropico	0.21mi	3/2.0 (+1)	1,512 (+12%)	0mo	$320,000	$212	64
1201 Via Gusto	0.06mi	3/2.0 (+1)	1,536 (+14%)	10mo	$165,000	$107	60
1608 Via Quantico	0.23mi	3/2.0 (+1)	1,536 (+14%)	4mo	$115,000	$75	57

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 · 3.26% rent growth · sell at horizon

5-year hold

• IRR: -20.8%
• Equity multiple: 0.27×
• Total profit: $-32,659
• Equity at exit: $23,856

10-year hold

• IRR: -11.9%
• Equity multiple: 0.26×
• Total profit: $-33,175
• Equity at exit: $13,834

Cash invested: $44,800 (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 93454

• Rents YoY: 3.3%
• Active inventory: 79
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $2,626 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$164 /mo · $1,973/yr
• Insurance: −$67
• HOA: −$1,132
• Vacancy / Maint / Mgmt: −$551
• Net cashflow: $-128

Break-even live

Break-even rent $2,788

Max offer price $137,436

Occupancy floor 100%

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1124 N Suey Rd Santa Maria, CA	2.0	2.0	1296	$2,500	$1.93	14d	1	0.27mi
914 E El Camino St Santa Maria, CA	3.0	2.0	1441	$3,400	$2.36	21d	1	1.07mi
Lynne Dr Santa Maria, CA	3.0	2.5	1264	$3,000	$2.37	14d	1	1.38mi

HOA detail

• Monthly dues: $1,132 · $13,584/yr

Listing history 18 events

1. 2026-06-18
   days on market $159,999 Active 146 DOM
2. 2026-06-17
   days on market $159,999 Active 145 DOM
3. 2026-06-16
   days on market $159,999 Active 144 DOM
4. 2026-06-15
   days on market $159,999 Active 143 DOM
5. 2026-06-14
   days on market $159,999 Active 141 DOM
6. 2026-06-13
   days on market $159,999 Active 140 DOM
7. 2026-06-10
   days on market $159,999 Active 138 DOM
8. 2026-06-09
   days on market $159,999 Active 137 DOM
9. 2026-06-08
   days on market $159,999 Active 136 DOM
10. 2026-06-07
    days on market $159,999 Active 135 DOM
11. 2026-06-05
    days on market $159,999 Active 132 DOM
12. 2026-06-03
    days on market $159,999 Active 131 DOM
13. 2026-06-02
    days on market $159,999 Active 130 DOM
14. 2026-06-01
    days on market $159,999 Active 129 DOM
15. 2026-05-31
    days on market $159,999 Active 128 DOM
16. 2026-05-30
    days on market $159,999 Active 127 DOM
17. 2026-01-23
    listed $159,999 Active
18. 2022-10-18
    soldstatus $40,000,000

ⓘ 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: $1,973 · $164/mo
• Projected year-2 tax: $1,973 · $164/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 66% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥84°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 11 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,511
• − Mortgage interest: −$8,962
• − Property taxes: −$1,973
• − Insurance: −$800
• − Repairs & maintenance: −$2,521
• − Management: −$2,521
• − HOA: −$13,584
• − Depreciation: −$4,655
• Taxable loss: −$3,505
• Est. tax savings @ 24.0%: +$841
• After-tax cash flow: $-691/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: Santa Maria-Bonita
• NCES district ID: 0605580
• Math proficiency: 26% ▲ 3.00%
• Reading proficiency: 34% ▲ 3.00%
• Median HH income: $50,959
• Composite: 29.11/100
• National rank: #11891
• State rank: #1023 of 1400 in CA

Livability — Santa Maria

• Score: 71/100
• State rank: #202
• US rank: #6519

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Santa Maria, CA
• County: Santa Barbara County · 410,380 people
• City population: 145,655
• Metro: Santa Maria-Santa Barbara, CA
• Population (ZIP): 41,896
• Household income: $81,522
• Rent vs Own: 47.7% rent · 52.3% own
• Severe rent burden: 1893.0

Population outlook (Santa Barbara County) Hauer SSP2

• Today (2025): 484,679 people
• By 2030: 505,323 · +4.3%
• By 2040: 545,783 · +12.6%
• By 2050: 584,263 · +20.5%
• By 2075: 682,586 · +40.8%
• By 2100: 723,188 · +49.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (73%)
• Race & ethnicity: Hispanic / Latino 73% Two or more races 37% White 20% Native American 3% Asian 3%
• Hispanic origin (detail): Mexican 69%
• Common ancestry: Russian 1% Italian 1% Lithuanian 1%
• Foreign-born: 26% · Canada, Vietnam
• Languages at home: 43% English-only · Spanish 52% Tagalog/Filipino 1%

Political lean MEDSL · Santa Barbara

• 2024 margin: Strong D (+26.7) · D 61.8% · R 35.1% · Other 3.1%
• 2008→2024 swing: +3.8pp toward D · 2008: 22.9pp · 2024: 26.7pp
• All cycles: 2024: D+26.7 2020: D+32.1 2016: D+28.2 2012: D+17.1 2008: D+22.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -543.97%
• Current HPI: 313.0849
• Rent YoY: ▲ 3.26%
• Metro: Santa Maria-Santa Barbara, 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

-99.6% since first listed

2 events — show timeline

• 2026-01-23 Listed $159,999 NSBCRMLS
• 2022-10-18 Sold (Public Records) $40,000,000 Public Records

Property tax history

+20.4%/yr

Latest (2025): $1,973 · +5.1% YoY. Source: county tax records.