314 N Albert Ave #80 · Exeter, CA 93221

$40,000

2 bd · 2.0 ba · 1,344 sqft · Land · 68 Days on market

Built 1978 $30/sqft · 45% below area Est $73k · 45% under

---

Why this score? — see what drove the C- 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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.4/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious Double-Wide in Senior Community - Great Potential! Welcome to this 2-bedroom, 2-bathroom double-wide mobile home located in a peaceful senior park. Offering plenty of space and a flexible layout, this home features two separate living areas—perfect for entertaining, relaxing, or creating a dedicated hobby or office space. The home does need some work, making it an excellent opportunity for buyers looking to add their personal touch. With generous room sizes and a functional floor plan, the possibilities are wide open. Enjoy the benefits of senior community living in a well-established park, along with the comfort of a larger home layout rarely found at this price point. Bring your vision and make this home your own!

Key facts

• Built 1978
• Listed 68 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath land listed at $40k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Recommended offer: $38k (6.0% below list) — sets the bar for market timing.
• Cap rate 38.2% vs local median 3.0% in Exeter — 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 55/100 on livability (#845 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A; Watch: crime C-, schools D, amenities F.
• Exeter Unified (suburban): math 30% / reading 44% proficiency, ranked #832 of 1,400 in CA (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 97 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,447 units permitted in Tulare County in 2024 (307 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $277 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Tulare County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($38k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $37,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 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 1978 — 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. 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?
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: 4.24% ✓
• Cap rate: 38.22%
• Cash-on-cash: 114.02%
• DSCR: 6.07
• GRM: 2.0

CMA / ARV

• ARV (median comp): $73,100
• List price: $40,000
• Delta: -45.28%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 6.48×
• Total profit: $61,325
• Equity at exit: $5,964

10-year hold

• IRR: —
• Equity multiple: 13.57×
• Total profit: $140,783
• Equity at exit: $3,458

Cash invested: $11,200 (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 93221

• Active inventory: 97
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $1,697 high
• Mortgage (P&I): −$210
• Tax est. 1.5%: −$50 /mo · $600/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$356
• Net cashflow: $1,064

Break-even live

Break-even rent $350

Max offer price $40,000

Occupancy floor 32%

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
821 Woodland Ave Exeter, CA	3.0	2.0	1539	$2,000	$1.30	21d	1	0.14mi
310 N Orange Ave Unit 4 Exeter, CA	2.0	1.0	900	$1,175	$1.31	43d	1	0.26mi
310 N Orange Ave Unit 12 Exeter, CA	2.0	1.0	900	$1,175	$1.31	13d	1	0.26mi
1303 Vine St Exeter, CA	3.0	2.0	1362	$1,895	$1.39	43d	1	0.31mi
1339 Vine St Exeter, CA	3.0	2.0	1552	$1,895	$1.22	21d	1	0.32mi
351 N D St Exeter, CA	3.0	1.0	961	$1,395	$1.45	43d	1	0.60mi
261 C St Unit 263C Exeter, CA	2.0	1.0	987	$1,650	$1.67	13d	1	0.91mi

Listing history 4 events

1. 2026-05-31
   status $40,000 Pending 68 DOM
2. 2026-05-31
   days on market $40,000 Active 68 DOM
3. 2026-05-30
   days on market $40,000 Active 67 DOM
4. 2026-03-24
   listed $40,000 Active 741-char remark

   Show marketing remark (741 chars)

   Spacious Double-Wide in Senior Community - Great Potential! Welcome to this 2-bedroom, 2-bathroom double-wide mobile home located in a peaceful senior park. Offering plenty of space and a flexible layout, this home features two separate living areas—perfect for entertaining, relaxing, or creating a dedicated hobby or office space. The home does need some work, making it an excellent opportunity for buyers looking to add their personal touch. With generous room sizes and a functional floor plan, the possibilities are wide open. Enjoy the benefits of senior community living in a well-established park, along with the comfort of a larger home layout rarely found at this price point. Bring your vision and make this home your own!

ⓘ 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 3/10 Moderate FEMA zone X (shaded) · 16% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 50 unhealthy d/yr today · 53 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,364
• − Mortgage interest: −$2,241
• − Property taxes: −$600
• − Insurance: −$200
• − Repairs & maintenance: −$1,629
• − Management: −$1,629
• − Depreciation: −$1,164
• Taxable income: $12,902
• Est. tax owed @ 24.0%: −$3,096
• After-tax cash flow: $9,674/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: Exeter Unified
• NCES district ID: 0601423
• Math proficiency: 30% ▼ -2.00%
• Reading proficiency: 44% ▼ -1.00%
• Median HH income: $46,404
• Composite: 34.19/100
• National rank: #10261
• State rank: #832 of 1400 in CA

Livability — Exeter

• Score: 55/100
• State rank: #845
• US rank: #23297

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Exeter, CA
• Population (ZIP): 14,399

Population outlook (Tulare County) Hauer SSP2

• Today (2025): 484,681 people
• By 2030: 496,241 · +2.4%
• By 2040: 518,507 · +7.0%
• By 2050: 534,920 · +10.4%
• By 2075: 548,417 · +13.2%
• By 2100: 513,085 · +5.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (53%)
• Race & ethnicity: Hispanic / Latino 53% White 42% Two or more races 16% Asian 2%
• Hispanic origin (detail): Mexican 50% Puerto Rican 1%
• Common ancestry: Slovak 1% Portuguese 1% Russian 1%
• Foreign-born: 11% · Canada
• Languages at home: 69% English-only · Spanish 28% Tagalog/Filipino 1% Other Indo-European 1%

Political lean MEDSL · Tulare

• 2024 margin: Strong R (+20.7) · D 38.5% · R 59.2% · Other 2.3%
• 2008→2024 swing: -5.4pp toward R · 2008: -15.3pp · 2024: -20.7pp
• All cycles: 2024: R+20.7 2020: R+7.8 2016: R+12.1 2012: R+17.8 2008: R+15.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -187.00%
• Current HPI: 345.1725
• 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

1 event — show timeline

• 2026-03-24 Listed $40,000 TCMLS

Property tax history

-5.2%/yr

Latest (2021): $66 · -2.8% YoY. Source: county tax records.