1586 Queens Row Row #54 · Fortuna, CA 95540

$88,000

2 bd · 2.0 ba · 1,040 sqft · Manufactured · 86 Days on market

Built 1974

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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 +7.5/15.0
• Livability +3.5/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great Location in Sunny Fortuna's only Senior Park. Clean and updated- New Flooring, newer double pane windows. Great location. Carport is deep enough for 2 or more cars, Extra storage area on side. Move in ready.

Key facts

• Wheelchair access
• Recess lighting
• New appliances

Tags

• NEW CABINETRY
• NEW COUNTERTOPS
• NEW APPLIANCES
• RECESS LIGHTING
• WHEELCHAIR ACCESS
• ON DEMAND HOT WATER HEATER

Property features AI

Finance

• HOA & community: Community sidewalks; Located in a park setting (Royal Crest)

Exterior

• Parking: 2-car garage
• Utilities: Public water; Public sewer; Electricity connected (220 volts); Natural gas connected / available
• Home design: Single-family residence; Residential property in a mobile home park (Skyline make, Royal Crest park)
• Construction: Aluminum siding; Other roof material
• Exterior features: Porch; Level lot; Concrete and paved road access; Park lot

Interior

• Kitchen: Cooktop; Microwave; Refrigerator
• Bedrooms: 5 total rooms (includes bedrooms and living spaces)
• Flooring: Carpet; Vinyl
• Heating & cooling: Forced air heating (natural gas); Ceiling fans; Has central cooling
• Interior features: Built-in features; Ceiling fans; Double-pane windows; Insulation for energy efficiency
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $88k.

Deal economics

• At list price, monthly cash flow is $615 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $88k).
• Recommended offer: $83k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.7% vs local median 2.4% in Fortuna — 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 69/100 on livability (#246 in CA) — a middle-class / working-renter tenant base. Strengths: health & safety A+, commute A-; Watch: employment D+, amenities F, cost of living F.
• Fortuna Union High (town): math 17% / reading 44% proficiency, ranked #350 of 517 in CA (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Fortuna Union High (math 12% / reading 37%, grade F, #826 of 1,170 statewide, top 80%, 830 students, 47% FRL).
• Market conditions: 107 active listings in the ZIP; 188 units permitted in Humboldt County in 2024 (17 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $608 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Humboldt County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($83k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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 $64k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $82,720 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
6. 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.
7. 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: 1.67% ✓
• Cap rate: 14.68%
• Cash-on-cash: 29.96%
• DSCR: 2.33
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.5%
• Equity multiple: 2.01×
• Total profit: $24,909
• Equity at exit: $13,121

10-year hold

• IRR: 32.3%
• Equity multiple: 3.93×
• Total profit: $72,085
• Equity at exit: $7,609

Cash invested: $24,640 (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 95540

• Active inventory: 107
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,471 medium
• Mortgage (P&I): −$461
• Tax from tax record: −$49 /mo · $585/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $615

Break-even live

Break-even rent $692

Max offer price $88,000

Occupancy floor 53%

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: $22,000
• Closing costs: $2,640
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-19
   days on market $88,000 Active 86 DOM
2. 2026-06-18
   days on market $88,000 Active 85 DOM
3. 2026-06-17
   days on market $88,000 Active 84 DOM
4. 2026-06-16
   days on market $88,000 Active 83 DOM
5. 2026-06-15
   days on market $88,000 Active 82 DOM
6. 2026-06-14
   days on market $88,000 Active 80 DOM
7. 2026-06-12
   days on market $88,000 Active 79 DOM
8. 2026-06-09
   days on market $88,000 Active 76 DOM
9. 2026-06-08
   days on market $88,000 Active 75 DOM
10. 2026-06-07
    days on market $88,000 Active 74 DOM
11. 2026-06-07
    days on market $88,000 Active 73 DOM
12. 2026-06-04
    days on market $88,000 Active 70 DOM
13. 2026-06-02
    days on market $88,000 Active 69 DOM
14. 2026-06-01
    days on market $88,000 Active 68 DOM
15. 2026-05-31
    days on market $88,000 Active 67 DOM
16. 2026-05-31
    days on market $88,000 Active 66 DOM
17. 2026-04-24
    price $88,000
18. 2026-03-24
    listed $90,000 Active
19. 2023-04-21
    soldstatus $64,000 Closed 213-char remark

    Show marketing remark (213 chars)

    Great Location in Sunny Fortuna's only Senior Park. Clean and updated- New Flooring, newer double pane windows. Great location. Carport is deep enough for 2 or more cars, Extra storage area on side. Move in ready.

20. 2023-03-01
    status Pending 213-char remark

    Show marketing remark (213 chars)

    Great Location in Sunny Fortuna's only Senior Park. Clean and updated- New Flooring, newer double pane windows. Great location. Carport is deep enough for 2 or more cars, Extra storage area on side. Move in ready.

21. 2022-12-27
    listed $64,700 Active 213-char remark

    Show marketing remark (213 chars)

    Great Location in Sunny Fortuna's only Senior Park. Clean and updated- New Flooring, newer double pane windows. Great location. Carport is deep enough for 2 or more cars, Extra storage area on side. Move in ready.

22. 2020-01-21
    soldstatus $37,500 260-char remark

    Show marketing remark (260 chars)

    Clean as a whistle! New Carpets, New Vinyl flooring, New Hot Water Heater, Roof is only 5 to 6 years old. Great Floor plan and move in ready. Bonus sunroom . Price includes, Range, Refrig, Washer and Dryer. Owner may carry depending on offer and down payment.

23. 2019-09-30
    listed $39,900 260-char remark

    Show marketing remark (260 chars)

    Clean as a whistle! New Carpets, New Vinyl flooring, New Hot Water Heater, Roof is only 5 to 6 years old. Great Floor plan and move in ready. Bonus sunroom . Price includes, Range, Refrig, Washer and Dryer. Owner may carry depending on offer and down payment.

ⓘ 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: $585 · $49/mo
• Projected year-2 tax: $669 · $56/mo
• Expected delta: +$84/yr (+$7/mo · 14.4%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥84°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 9 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,652
• − Mortgage interest: −$4,929
• − Property taxes: −$585
• − Insurance: −$440
• − Repairs & maintenance: −$1,412
• − Management: −$1,412
• − Depreciation: −$2,560
• Taxable income: $6,314
• Est. tax owed @ 24.0%: −$1,515
• After-tax cash flow: $5,868/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: Fortuna Union High
• NCES district ID: 0614190
• Math proficiency: 17% ▼ -10.00%
• Reading proficiency: 44% ▼ -8.00%
• Median HH income: $41,411
• Composite: 25.69/100
• National rank: #7386
• State rank: #350 of 517 in CA

Livability — Fortuna

• Score: 69/100
• State rank: #246
• US rank: #8234

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fortuna, CA
• City population: 14,641
• Population (ZIP): 14,641

Population outlook (Humboldt County) Hauer SSP2

• Today (2025): 135,550 people
• By 2030: 134,798 · -0.6%
• By 2040: 132,222 · -2.5%
• By 2050: 130,850 · -3.5%
• By 2075: 128,656 · -5.1%
• By 2100: 120,238 · -11.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 19% Two or more races 12% Asian 3% Native American 3%
• Hispanic origin (detail): Mexican 18%
• Common ancestry: Lithuanian 4% Italian 4% Slovak 3%
• Foreign-born: 12% · Canada, China
• Languages at home: 85% English-only · Spanish 13% Other Indo-European 1% Chinese 1%

Political lean MEDSL · Humboldt

• 2024 margin: Strong D (+28.4) · D 62.0% · R 33.6% · Other 4.5%
• 2008→2024 swing: +0.2pp no change · 2008: 28.2pp · 2024: 28.4pp
• All cycles: 2024: D+28.4 2020: D+33.4 2016: D+25.9 2012: D+26.2 2008: D+28.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -232.72%
• Current HPI: 236.0203
• Rent YoY: —
• Metro: —
• 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

+120.6% since first listed

7 events — show timeline

• 2026-04-24 Price Changed $88,000 HAR
• 2026-03-24 Listed $90,000 HAR
• 2023-04-21 Sold (MLS) $64,000 HAR
• 2023-03-01 Pending — HAR
• 2022-12-27 Listed $64,700 HAR
• 2020-01-21 Sold (MLS) $37,500 HAR
• 2019-09-30 Listed $39,900 HAR

Property tax history

+19.3%/yr

Latest (2025): $585 · +2.3% YoY. Source: county tax records.