1701 S Thornburg St #56 · Santa Maria, CA 93458

$119,000

2 bd · 2.0 ba · 1,248 sqft · Manufactured public records · 30 Days on market

Manufactured home Built 2001 871 sqft lot Est $124k · at est.

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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 +9.2/15.0
• Livability +3.6/5.0
• Rent growth +3.1/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to La Maria Mobile Home Park, a 55 + plus community located in downtown Santa Maria and within driving distance to shopping and restaurants. This 1,248 square foot home features 2 bedrooms, 2 baths, inside laundry room, spacious kitchen with ample cabinet storage, an open living area and newer windows and blinds. Washer, dryer and refrigerator are included in the sale. Relax as you enjoy the pool, spa or hot tub, meet new friends as you participate in the clubhouse activities. Space rent for the new buyer will be 1,301.95 which includes, water, trash and sewer. An Rv storage area is available for an additional fee. This unit is waiting for your personal touch.

Key facts

• Downtown santa maria
• Spacious kitchen
• Open living area

Tags

• DOWNTOWN SANTA MARIA
• INSIDE LAUNDRY ROOM
• SPACIOUS KITCHEN
• AMPLE CABINET STORAGE
• OPEN LIVING AREA
• NEWER WINDOWS

Property features AI

Finance

• HOA & community: Age-restricted community; Pets allowed; Land lease (monthly): $1,301.95

Exterior

• Parking: No street
• Utilities: Public water; Public sewer; Cable available
• Home design: Manufactured home; Model SN523-2; Built by Champion Home Builders Co; 52 feet long
• Construction: Vinyl siding; Pillar/post/pier foundation; Composition/shingle roof
• Exterior features: Level lot; Residential zoning; No street parking

Interior

• Kitchen: Gas range/oven; Dishwasher; Microwave; Refrigerator
• Flooring: Laminate; Linoleum
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Ceiling fan(s) for cooling
• Interior features: Laminate and linoleum floors; Laundry inside
• Laundry & utility: Washer and dryer included; Laundry located inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $119k.

Deal economics

• At list price, monthly cash flow is $765 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $119k).
• Recommended offer: $117k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.0% 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: 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.
• Zoned schools: Jimenez Roberto And Dr. Francisco Elementary (938 students, 58% FRL); Arellanes Junior High (596 students, 81% FRL); Santa Maria High (3,196 students, 77% FRL) — zoned schools at 72% FRL track the district average.
• Market conditions: Rents rising (+2.3%/yr); 56 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 30% of the median local income ($75k/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 $823 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 2.3% rent growth), your $33k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($117k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y 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.

Recommended offer $117,215 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.58% ✓
• Cap rate: 14.01%
• Cash-on-cash: 27.56%
• DSCR: 2.23
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $123,552
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1701 S Thornburg St #28	0.05mi	2/2.0	1,248 (0%)	9mo	$90,000	$72	90
1701 S Thornburg St #61	0.05mi	2/2.0	1,200 (-4%)	6mo	$84,500	$70	86
1701 S Thornburg St #108	0.11mi	3/2.0 (+1)	1,200 (-4%)	4mo	$108,000	$90	81
1701 S Thornburg St #139	0.12mi	2/2.0	1,368 (+10%)	21mo	$135,000	$99	61
1701 S Thornburg #156	0.05mi	3/2.0 (+1)	1,434 (+15%)	9mo	$235,000	$164	60
1701 S Thornburg St #96	0.10mi	3/2.0 (+1)	1,120 (-10%)	22mo	$132,000	$118	55

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 · 2.31% rent growth · sell at horizon

5-year hold

• IRR: 20.9%
• Equity multiple: 1.84×
• Total profit: $28,133
• Equity at exit: $17,743

10-year hold

• IRR: 28.6%
• Equity multiple: 3.46×
• Total profit: $81,881
• Equity at exit: $10,289

Cash invested: $33,320 (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 93458

• Rents YoY: 2.3%
• Active inventory: 56
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,881 high
• Mortgage (P&I): −$624
• Tax from tax record: −$47 /mo · $568/yr
• Insurance: −$50
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$395
• Net cashflow: $765

Break-even live

Break-even rent $913

Max offer price $119,000

Occupancy floor 54%

Sensitivity live

Price	-10% $833	-5% $799	+0% $765	+5% $732	+10% $698
Rent	-10% $617	-5% $691	+0% $765	+5% $840	+10% $914
Rate	-1.0pp $825	-0.5pp $796	base $765	+0.5pp $735	+1.0pp $703

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1720 S Depot St Santa Maria, CA	1.0–4.0	1.0–2.0	1308	$2,197	$1.68	16d	5	0.17mi
329 W Carmen Ln Santa Maria, CA	1.0–2.0	1.0	725	$2,396	$3.30	16d	9	0.34mi
800 W Battles Rd Santa Maria, CA	2.0–3.0	2.0	1104	$2,403	$2.18	16d	6	0.34mi
404 E Newlove Dr Apt O Santa Maria, CA	2.0	1.0	850	$2,400	$2.82	16d	1	0.54mi
983 Dan Blough Dr Santa Maria, CA	1.0–3.0	1.0–3.0	1017	$3,073	$3.02	16d	45	0.57mi
333 E Enos Dr Santa Maria, CA	1.0–2.0	1.0–2.0	735	$2,499	$3.40	16d	12	0.60mi
1735 Biscayne St Santa Maria, CA	3.0	2.0	1257	$3,081	$2.45	16d	9	0.68mi
1708 Rio Vista Ln Unit 1 Santa Maria, CA	2.0	2.0	1075	$3,000	$2.79	16d	1	0.75mi
1245 Sonya Ln Santa Maria, CA	1.0–2.0	1.0	728	$2,381	$3.27	16d	12	0.77mi
1240 Bethel Ln Santa Maria, CA	2.0	1.0	838	$2,296	$2.74	16d	2	0.84mi
2299 Carrasco Way Santa Maria, CA	3.0	2.5–3.5	1419	$3,500	$2.47	16d	2	0.89mi
620 W Park Ave Santa Maria, CA	2.0	2.0	1450	$2,850	$1.97	16d	1	1.00mi
703 Meehan St Santa Maria, CA	3.0	1.0–2.0	700	$2,917	$4.16	16d	14	1.01mi
310 E McCoy Ln Santa Maria, CA	2.0–3.0	2.0	1130	$2,200	$1.95	16d	2	1.06mi
310 W McCoy Ln Santa Maria, CA	3.0	2.0	1130	$2,600	$2.30	16d	1	1.07mi
740 S Western Ave Santa Maria, CA	2.0	1.0	590	$2,284	$3.87	16d	16	1.10mi
504 Playa Blanca Ct Santa Maria, CA	2.0	1.0	800	$2,000	$2.50	16d	1	1.26mi

Listing history 22 events

1. 2026-06-21
   days on market $119,000 Active 30 DOM
2. 2026-06-18
   days on market $119,000 Active 27 DOM
3. 2026-06-17
   days on market $119,000 Active 26 DOM
4. 2026-06-16
   days on market $119,000 Active 25 DOM
5. 2026-06-15
   days on market $119,000 Active 24 DOM
6. 2026-06-14
   days on market $119,000 Active 22 DOM
7. 2026-06-13
   days on market $119,000 Active 21 DOM
8. 2026-06-10
   days on market $119,000 Active 19 DOM
9. 2026-06-09
   days on market $119,000 Active 18 DOM
10. 2026-06-08
    days on market $119,000 Active 17 DOM
11. 2026-06-07
    days on market $119,000 Active 16 DOM
12. 2026-06-05
    days on market $119,000 Active 13 DOM
13. 2026-06-03
    days on market $119,000 Active 12 DOM
14. 2026-06-02
    days on market $119,000 Active 11 DOM
15. 2026-06-01
    days on market $119,000 Active 10 DOM
16. 2026-05-31
    days on market $119,000 Active 9 DOM
17. 2026-05-30
    days on market $119,000 Active 8 DOM
18. 2026-03-18
    listed $119,000 Active
19. 2016-05-10
    historical
20. 2016-05-10
    historical
21. 2015-11-16
    listed $38,500
22. 2015-11-16
    listed $38,500

ⓘ 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: $568 · $47/mo
• Projected year-2 tax: $904 · $75/mo
• Expected delta: +$337/yr (+$28/mo · 59.3%)

ⓘ 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 3/10 Moderate 7 d/yr ≥84°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 8 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,577
• − Mortgage interest: −$6,666
• − Property taxes: −$568
• − Insurance: −$595
• − Repairs & maintenance: −$1,806
• − Management: −$1,806
• − Depreciation: −$3,462
• Taxable income: $7,674
• Est. tax owed @ 24.0%: −$1,842
• After-tax cash flow: $7,343/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): 59,148
• Household income: $75,257
• Rent vs Own: 57.1% rent · 42.9% own
• Severe rent burden: 2583.0

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 (87%)
• Race & ethnicity: Hispanic / Latino 87% Two or more races 41% White 8% Asian 4% Native American 4%
• Hispanic origin (detail): Mexican 83%
• Common ancestry: Lithuanian 1%
• Foreign-born: 40% · Canada, Jamaica
• Languages at home: 21% English-only · Spanish 72% Tagalog/Filipino 2% Other Asian/Pacific 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: ▼ -422.91%
• Current HPI: 347.9281
• Rent YoY: ▲ 2.31%
• 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

+209.1% since first listed

5 events — show timeline

• 2026-03-18 Listed $119,000 NSBCRMLS
• 2016-05-10 Listing Removed — CRMLS
• 2016-05-10 Listing Removed — NSBCRMLS
• 2015-11-16 Listed $38,500 CRMLS
• 2015-11-16 Listed $38,500 NSBCRMLS

Property tax history

-3.1%/yr

Latest (2025): $568 · +4.8% YoY. Source: county tax records.