1565 W Arrow Hwy Space C23 Unit C23 · Upland, CA 91786

$209,000

2 bd · 2.0 ba · 960 sqft · Manufactured public records · 47 Days on market

Built 2005 $218/sqft · 23% above area Est $170k · 23% over ↓ 5% since listing

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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).

• Cash flow +23.3/30.0
• DSCR +7.5/10.0
• 1% rule +6.1/10.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this tastefully updated manufactured home located in the Oasis Mobile Estates park of west Upland. Featuring three bedrooms, two bathrooms, a spacious kitchen and living room, a laundry room, and so much more. Moving to the exterior of the property you have one covered parking space and two additional spots (one sized for a compact car) to the side of the home along with a storage shed. The property has recently been upgraded with fresh exterior and interior paint, new interior electrical outlets and switches ("Leviton" brand), and a brand new dishwasher. The Hot water heater has been replaced within the past two years, and the HVAC on the property works great. Washer,

Key facts

• Brand new dishwasher
• Spacious kitchen
• Storage shed

Tags

• UPDATED MANUFACTURED HOME
• SPACIOUS KITCHEN
• COVERED PARKING SPACE
• STORAGE SHED
• FRESH EXTERIOR PAINT
• BRAND NEW DISHWASHER

Property features AI

Finance

• Other: Urban community setting; Park name: Oasis Mobile Estates
• HOA & community: Part of Oasis Mobile Estates association; Association fees paid monthly; Park requires manager approval; Land lease of $1,125 per month (park-provided)

Exterior

• Parking: Located in Oasis Mobile Estates
• Utilities: Public sewer
• Home design: Single-story mobile home; Model 13403B; Mobile home remains on site
• Construction: Year built as provided by builder
• Exterior features: Community pool; Corner lot; Has a view

Interior

• Kitchen: Microwave; Gas range and gas oven; Dishwasher
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central cooling; Central furnace heating
• Interior features: Front and back door entry; Single-level entry
• Laundry & utility: Washer included; Dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $209k.

Deal economics

• At list price, monthly cash flow is $381 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $209k).
• Recommended offer: $203k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 2.7% in Upland — 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 72/100 on livability (#184 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A; Watch: crime C-, health & safety C-, cost of living F.
• Upland Unified (suburban): math 39% / reading 53% proficiency, ranked #493 of 1,400 in CA (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-0.3%/yr); 84 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 5,458 units permitted in San Bernardino County in 2024 (1,500 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• San Bernardino County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($203k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 6→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $202,730 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.11% ✓
• Cap rate: 8.48%
• Cash-on-cash: 7.82%
• DSCR: 1.35
• GRM: 7.5

CMA / ARV

• ARV (median comp): $170,000
• List price: $209,000
• Delta: 22.94%
• Verdict: OVERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -7.8%
• Equity multiple: 0.72×
• Total profit: $-16,326
• Equity at exit: $31,163

10-year hold

• IRR: -2.6%
• Equity multiple: 0.85×
• Total profit: $-8,984
• Equity at exit: $18,071

Cash invested: $58,520 (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 91786

• Rents YoY: -0.3%
• Active inventory: 84
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,311 high
• Mortgage (P&I): −$1,096
• Tax est. 1.5%: −$261 /mo · $3,135/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$485
• Net cashflow: $381

Break-even live

Break-even rent $1,828

Max offer price $209,000

Occupancy floor 78%

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: $52,250
• Closing costs: $6,270
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
850 N Benson Ave Upland, CA	1.0–2.0	1.0	815	$2,445	$3.00	4d	14	0.23mi
435 N Terry Way Unit 449-C Upland, CA	2.0	1.5	1007	$2,100	$2.09	43d	1	0.29mi
1790 W Arrow Rte Upland, CA	2.0	2.0	1070	$2,402	$2.25	5d	3	0.31mi
1358 W Arrow Hwy Unit A Upland, CA	2.0	1.5	1007	$2,100	$2.09	24d	1	0.34mi
1324 W Winn Dr Unit D Upland, CA	2.0	1.5	900	$2,395	$2.66	43d	1	0.37mi
638 Silverwood Ave Unit 3 Upland, CA	1.0	1.0	600	$1,725	$2.88	43d	1	0.41mi
638 Silverwood Ave Apt 5 Upland, CA	2.0	1.0	750	$1,950	$2.60	43d	1	0.41mi
550 Silverwood Ave Unit A Upland, CA	1.0	1.0	700	$1,725	$2.46	43d	1	0.41mi
538 Silverwood Ave Unit C Upland, CA	2.0	1.0	850	$1,975	$2.32	43d	1	0.41mi
1430 W Foothill Blvd Upland, CA	1.0	1.0	585	$2,295	$3.92	1d	1	0.42mi
1256 W Arrow Hwy Upland, CA	2.0	1.0–2.0	730	$2,015	$2.76	2d	5	0.47mi
1334 W Foothill Blvd Upland, CA	1.0–2.0	1.0–2.0	770	$2,365	$3.07	1d	19	0.50mi
1233 Woodbury Ct Upland, CA	2.0	2.0	975	$2,250	$2.31	22d	1	0.51mi
859 N Mountain Ave Upland, CA	1.0–2.0	1.0–2.0	865	$2,490	$2.88	5d	1	0.54mi
1394 Springfield St Upland, CA	2.0	1.5	1007	$2,150	$2.14	1d	1	0.55mi
1425 Springfield St Upland, CA	2.0	2.0	970	$1,950	$2.01	24d	1	0.56mi
194 Genoa Way Unit B Upland, CA	2.0	1.5	749	$2,400	$3.20	43d	1	0.58mi
1540 W 8th St Upland, CA	2.0	1.0–2.0	790	$2,649	$3.35	1d	10	0.61mi
104 Sinclair Ave #1 Upland, CA	2.0	1.0	810	$2,500	$3.09	18d	1	0.65mi
104 Sinclair Ave Upland, CA	2.0	1.0	840	$2,500	$2.98	16d	1	0.65mi
1301 W 8th St Upland, CA	2.0	1.0	882	$2,400	$2.72	43d	1	0.70mi
2100 W Arrow Rte Upland, CA	1.0–2.0	1.0–2.0	940	$2,840	$3.02	1d	10	0.70mi
1386 W 8th St Upland, CA	3.0	2.0	1125	$2,700	$2.40	43d	1	0.70mi
162 Linda Way Upland, CA	2.0	1.5	800	$2,250	$2.81	24d	1	0.74mi
1539 W 7th St Upland, CA	2.0	1.0–1.5	772	$2,480	$3.21	20d	10	0.76mi
1082 W Pine St Unit B Upland, CA	1.0	1.0	800	$1,800	$2.25	43d	1	0.93mi
1076 W Pine St Unit B Upland, CA	1.0	1.0	800	$1,700	$2.12	2d	1	0.93mi
5038 Birch St Montclair, CA	3.0	1.0–2.0	887	$3,372	$3.80	1d	106	0.96mi
1061 W Bennington St Apt B Upland, CA	2.0	1.0	960	$2,200	$2.29	5d	1	1.01mi
2398 W Arrow Rte Upland, CA	1.0–3.0	1.0–3.5	1231	$3,262	$2.65	1d	6	1.04mi
1015 W Bennington St Unit D Upland, CA	2.0	1.0	800	$2,385	$2.98	2d	1	1.06mi
854 Orchid Ct Unit G Upland, CA	2.0	2.0	1050	$1,900	$1.81	24d	1	1.07mi
811 Orchid Ct Unit J Upland, CA	2.0	2.0	830	$2,300	$2.77	22d	1	1.13mi
360 N San Antonio Ave Unit I Upland, CA	1.0	1.0	535	$1,795	$3.36	43d	1	1.13mi
1040 W 7th St Upland, CA	1.0–2.0	1.0	790	$2,099	$2.66	4d	2	1.17mi
1390 W 15th St Upland, CA	1.0	1.0	670	$1,850	$2.76	18d	1	1.17mi
250 N College Park Dr Upland, CA	1.0–3.0	1.0–2.0	1044	$3,131	$3.00	1d	28	1.21mi
968 W 7th St Upland, CA	1.0–2.0	1.0	850	$2,595	$3.05	2d	1	1.22mi
4914 Olive St Montclair, CA	1.0–3.0	1.0–3.0	1001	$3,152	$3.15	1d	20	1.24mi
4868 Cypress St Montclair, CA	2.0	1.0–2.5	962	$3,615	$3.76	1d	17	1.25mi

Listing history 15 events

1. 2026-06-18
   days on market $209,000 Active 47 DOM
2. 2026-06-17
   days on market $209,000 Active 46 DOM
3. 2026-06-16
   days on market $209,000 Active 45 DOM
4. 2026-06-15
   days on market $209,000 Active 44 DOM
5. 2026-06-13
   days on market $209,000 Active 42 DOM
6. 2026-06-13
   pricedays on market $209,000 Active 41 DOM
7. 2026-06-09
   days on market $215,000 Active 38 DOM
8. 2026-06-08
   days on market $215,000 Active 37 DOM
9. 2026-06-07
   days on market $215,000 Active 36 DOM
10. 2026-06-04
    days on market $215,000 Active 33 DOM
11. 2026-06-03
    days on market $215,000 Active 32 DOM
12. 2026-06-02
    days on market $215,000 Active 31 DOM
13. 2026-06-01
    days on market $215,000 Active 30 DOM
14. 2026-05-31
    days on market $215,000 Active 29 DOM
15. 2026-05-02
    listed $220,000 Active 926-char remark

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 6 d/yr ≥99°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 16 unhealthy d/yr today · 19 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,730
• − Mortgage interest: −$11,707
• − Property taxes: −$3,135
• − Insurance: −$1,045
• − Repairs & maintenance: −$2,218
• − Management: −$2,218
• − Depreciation: −$6,080
• Taxable income: $1,326
• Est. tax owed @ 24.0%: −$318
• After-tax cash flow: $4,256/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: Upland Unified
• NCES district ID: 0600016
• Math proficiency: 39% ▲ 1.00%
• Reading proficiency: 53% ▬ 0.00%
• Median HH income: $66,267
• Composite: 43.17/100
• National rank: #6593
• State rank: #493 of 1400 in CA

Livability — Upland

• Score: 72/100
• State rank: #184
• US rank: #6041

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Upland, CA
• County: San Bernardino County · 2,030,291 people
• City population: 82,715
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 55,829
• Household income: $92,458
• Rent vs Own: 54.1% rent · 45.9% own
• Severe rent burden: 2409.0

Population outlook (San Bernardino County) Hauer SSP2

• Today (2025): 2,300,329 people
• By 2030: 2,378,907 · +3.4%
• By 2040: 2,523,137 · +9.7%
• By 2050: 2,642,388 · +14.9%
• By 2075: 2,880,769 · +25.2%
• By 2100: 2,909,436 · +26.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Hispanic / Latino 50% White 30% Two or more races 20% Asian 8% Black 7% Native American 1%
• Hispanic origin (detail): Mexican 40%
• Common ancestry: Romanian 1% Lithuanian 1% Italian 1%
• Foreign-born: 19% · Canada, China, South Korea
• Languages at home: 66% English-only · Spanish 24% Chinese 2% Other Indo-European 2%

Political lean MEDSL · San Bernardino

• 2024 margin: Toss-up / Even · D 47.5% · R 49.7% · Other 2.8%
• 2008→2024 swing: -8.5pp toward R · 2008: 6.3pp · 2024: -2.1pp
• All cycles: 2024: R+2.1 2020: D+10.7 2016: D+9.8 2012: D+5.4 2008: D+6.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -771.58%
• Current HPI: 379.2283
• Rent YoY: ▼ -0.27%
• Metro: Riverside-San Bernardino-Ontario, 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

-5.0% since first listed

3 events — show timeline

• 2026-06-10 Price Changed $209,000 CRMLS
• 2026-05-27 Price Changed $215,000 CRMLS
• 2026-05-02 Listed $220,000 CRMLS

Property tax history

-1.5%/yr

Latest (2025): $394 · +1.3% YoY. Source: county tax records.