1400 N Tully Rd #114 · Turlock, CA 95380

$85,000

3 bd · 2.0 ba · 1,152 sqft · Manufactured · 49 Days on market

Built 1982 $74/sqft · 8% above area Est $78k · 8% over ↓ 10% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +3.7/15.0
• Livability +3.3/5.0
• Rent growth +2.8/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful 3 bedroom 2 bath home in one of Turlocks finest Senior Parks. Home has been updated with new paint both interior and exterior, Newer AC, New Hot Water Tank and Tuff Shed in drive way. Walk way to the Club house right next to the driveway.

Key facts

• Clubhouse
• Community pool
• Sliding glass door

Tags

• SLIDING GLASS DOOR
• COMMUNITY POOL
• CLUBHOUSE

Property features AI

Finance

• Financial info: Land lease: No; Land lease amount listed as $825
• HOA & community: No homeowners association; Senior community

Exterior

• Parking: Covered parking
• Utilities: Cable available; Individual electric meter; Individual gas meter; Public water; Public sewer
• Home design: Manufactured home in park; Double wide; Hillcrest make; Built in 1982
• Construction: Composition roof; Wood skirting
• Exterior features: Close to clubhouse; Shed(s)

Interior

• Kitchen: Wood counters
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Linoleum; Vinyl
• Bathrooms: 2 full bathrooms; Tub with shower over; Shower stall(s)
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Accessible approach with ramp; Wood counters in kitchen; Dining bar
• Laundry & utility: Washer included; 220V outlet in laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $85k.

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 $85k).
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.
• Cap rate 21.2% vs local median 3.1% in Turlock — 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 66/100 on livability (#353 in CA) — a middle-class / working-renter tenant base. Strengths: housing A, health & safety A-, commute B; Watch: amenities D, schools F, crime D-.
• Turlock Unified (suburban): math 23% / reading 38% proficiency, ranked #334 of 517 in CA (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.3%/yr); 130 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 923 units permitted in Stanislaus County in 2024 (63 in 5+ unit buildings).
• This rent runs 33% 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 $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Stanislaus County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 1.3% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $27k; list at $85k implies a 215% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $82,450 (3.0% below list)

Questions for the listing agent

1. 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?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is D 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?
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: 2.45% ✓
• Cap rate: 21.20%
• Cash-on-cash: 53.22%
• DSCR: 3.37
• GRM: 3.4

CMA / ARV

• ARV (median comp): $78,386
• List price: $85,000
• Delta: 8.44%
• Verdict: FAIR
• Comps: 12 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1400 N Tully Rd #141	0.15mi	2/2.0 (-1)	1,154 (+0%)	11mo	$90,000	$78	79
1400 N Tully Rd #2	0.00mi	2/2.0 (-1)	1,250 (+8%)	9mo	$74,000	$59	73
1400 N Tully Rd #191	0.00mi	2/1.5 (-1)	1,124 (-2%)	19mo	$68,500	$61	73
1400 N Tully Rd #124	0.00mi	2/2.0 (-1)	1,040 (-10%)	16mo	$55,000	$53	65
1400 N Tully Rd #143	0.09mi	2/2.0 (-1)	1,040 (-10%)	13mo	$76,500	$74	64
1228 Magic Sands	0.52mi	2/2.0 (-1)	1,098 (-5%)	9mo	$83,000	$76	56
1400 N Tully Rd #8	0.00mi	2/2.0 (-1)	1,320 (+15%)	24mo	$115,000	$87	51
1227 Magic Sands Way	0.49mi	3/1.0	1,000 (-13%)	20mo	$77,000	$77	34

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 · 1.27% rent growth · sell at horizon

5-year hold

• IRR: 49.3%
• Equity multiple: 3.10×
• Total profit: $49,929
• Equity at exit: $12,674

10-year hold

• IRR: 54.1%
• Equity multiple: 5.88×
• Total profit: $116,069
• Equity at exit: $7,349

Cash invested: $23,800 (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 95380

• Rents YoY: 1.3%
• Active inventory: 130
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $2,080 high
• Mortgage (P&I): −$446
• Tax est. 1.5%: −$106 /mo · $1,275/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$437
• Net cashflow: $1,056

Break-even live

Break-even rent $744

Max offer price $85,000

Occupancy floor 44%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1700 N Tully Rd Turlock, CA	1.0–3.0	1.0–2.0	892	$2,065	$2.31	13d	1	0.35mi
1101 Park St Turlock, CA	2.0	1.0	800	$1,650	$2.06	13d	1	0.71mi
2541 Carnival Dr Turlock, CA	3.0	2.0	1309	$2,295	$1.75	44d	1	0.84mi
90 Pedras Rd Turlock, CA	2.0	1.0	870	$1,650	$1.90	14d	1	1.11mi
475 Georgetown Ave Turlock, CA	3.0	2.0	1204	$2,350	$1.95	21d	1	1.19mi
1055 Vermont Ave Turlock, CA	3.0	2.0	1283	$2,000	$1.56	44d	1	1.25mi
920 Vermont Ave Turlock, CA	2.0	1.0	756	$1,550	$2.05	14d	1	1.25mi
731 Vermont Ave Turlock, CA	3.0	1.0	1238	$1,750	$1.41	14d	1	1.31mi
3293 Dewar Ln Turlock, CA	3.0	2.5	1456	$2,750	$1.89	14d	1	1.31mi
402 S Laurel St Turlock, CA	2.0	1.0	1150	$2,200	$1.91	14d	1	1.47mi

Listing history 21 events

1. 2026-06-18
   days on market $85,000 Active 49 DOM
2. 2026-06-17
   days on market $85,000 Active 48 DOM
3. 2026-06-16
   days on market $85,000 Active 47 DOM
4. 2026-06-15
   days on market $85,000 Active 46 DOM
5. 2026-06-14
   days on market $85,000 Active 44 DOM
6. 2026-06-13
   remarks 462-char remark
7. 2026-06-13
   days on market $85,000 Active 43 DOM
8. 2026-06-10
   days on market $85,000 Active 41 DOM
9. 2026-06-09
   days on market $85,000 Active 40 DOM
10. 2026-06-08
    days on market $85,000 Active 39 DOM
11. 2026-06-07
    days on market $85,000 Active 38 DOM
12. 2026-06-05
    days on market $85,000 Active 35 DOM
13. 2026-06-03
    days on market $85,000 Active 34 DOM
14. 2026-06-02
    days on market $85,000 Active 33 DOM
15. 2026-06-01
    days on market $85,000 Active 32 DOM
16. 2026-05-31
    days on market $85,000 Active 31 DOM
17. 2026-05-30
    days on market $85,000 Active 30 DOM
18. 2014-11-19
    status Pending (Do Not Show) 248-char remark

    Show marketing remark (248 chars)

    Beautiful 3 bedroom 2 bath home in one of Turlocks finest Senior Parks. Home has been updated with new paint both interior and exterior, Newer AC, New Hot Water Tank and Tuff Shed in drive way. Walk way to the Club house right next to the driveway.

19. 2014-11-19
    soldstatus $27,000 Sold 248-char remark

    Show marketing remark (248 chars)

    Beautiful 3 bedroom 2 bath home in one of Turlocks finest Senior Parks. Home has been updated with new paint both interior and exterior, Newer AC, New Hot Water Tank and Tuff Shed in drive way. Walk way to the Club house right next to the driveway.

20. 2014-10-31
    price $28,950 248-char remark

    Show marketing remark (248 chars)

    Beautiful 3 bedroom 2 bath home in one of Turlocks finest Senior Parks. Home has been updated with new paint both interior and exterior, Newer AC, New Hot Water Tank and Tuff Shed in drive way. Walk way to the Club house right next to the driveway.

21. 2014-10-04
    listed $29,950 Active 248-char remark

    Show marketing remark (248 chars)

    Beautiful 3 bedroom 2 bath home in one of Turlocks finest Senior Parks. Home has been updated with new paint both interior and exterior, Newer AC, New Hot Water Tank and Tuff Shed in drive way. Walk way to the Club house right next to the driveway.

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 21% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥102°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 33 unhealthy d/yr today · 35 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,957
• − Mortgage interest: −$4,761
• − Property taxes: −$1,275
• − Insurance: −$425
• − Repairs & maintenance: −$1,997
• − Management: −$1,997
• − Depreciation: −$2,473
• Taxable income: $12,030
• Est. tax owed @ 24.0%: −$2,887
• After-tax cash flow: $9,780/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: Turlock Unified
• NCES district ID: 0600158
• Math proficiency: 23% ▼ -8.00%
• Reading proficiency: 38% ▼ -7.00%
• Median HH income: $50,249
• Composite: 26.58/100
• National rank: #7184
• State rank: #334 of 517 in CA

Livability — Turlock

• Score: 66/100
• State rank: #353
• US rank: #11971

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Turlock, CA
• County: Stanislaus County · 445,786 people
• City population: 83,043
• Metro: Modesto, CA
• Population (ZIP): 43,960
• Household income: $74,534
• Rent vs Own: 51.2% rent · 48.8% own
• Severe rent burden: 1545.0

Population outlook (Stanislaus County) Hauer SSP2

• Today (2025): 579,493 people
• By 2030: 598,000 · +3.2%
• By 2040: 630,930 · +8.9%
• By 2050: 658,300 · +13.6%
• By 2075: 712,363 · +22.9%
• By 2100: 719,805 · +24.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Hispanic / Latino 54% White 36% Two or more races 14% Asian 4% Black 1%
• Hispanic origin (detail): Mexican 51%
• Common ancestry: Russian 8% Italian 1% Portuguese 1%
• Foreign-born: 22% · Canada
• Languages at home: 52% English-only · Spanish 39% Other Indo-European 7%

Political lean MEDSL · Stanislaus

• 2024 margin: R (+11.0) · D 43.2% · R 54.2% · Other 2.6%
• 2008→2024 swing: -12.7pp toward R · 2008: 1.7pp · 2024: -11.0pp
• All cycles: 2024: R+11.0 2020: D+0.8 2016: D+0.6 2012: D+0.7 2008: D+1.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -614.27%
• Current HPI: 307.7264
• Rent YoY: ▲ 1.27%
• Metro: Modesto, 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

-9.8% since first listed

4 events — show timeline

• 2014-11-19 Pending — MLSListings
• 2014-11-19 Sold (MLS) $27,000 MLSListings
• 2014-10-31 Price Changed $28,950 MLSListings
• 2014-10-04 Listed $29,950 MLSListings