19690 N Highway 99 #131

Acampo, CA 95220

$129,900B-

2 bd · 2.0 ba · 1,100 sqft · Built 1977 · Manufactured · Pending · 49 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,250/mo
• Mortgage (P&I): −$681
• Tax + insurance: −$216
• HOA: −$0
• Vac / Maint / Mgmt: −$473
• Net cashflow: $880/mo
• Annual: $10,562/yr
• Cap rate: 14.42%
• Cash-on-cash: 29.04%
• DSCR: 2.29
• 1% rule: 1.73%
• Cash to close: $36,372

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $130k.
• At list price, monthly cash flow is $880 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• It's been on market 49 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 38/100 on livability (#1,414 in CA) — a limited-amenity area; tenant pool skews transient or value-seeking. Strengths: crime A; Watch: amenities F, commute F, employment F.
• Lodi Unified (urban): math 24% / reading 36% proficiency, ranked #325 of 517 in CA (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 38 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 3,779 units permitted in San Joaquin County in 2024 (0 in 5+ unit buildings).
• San Joaquin County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~5 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.