1500 Virginia Pl #159 · San Jose, CA 95116

$240,000

3 bd · 2.0 ba · 960 sqft · Manufactured · 67 Days on market

Built 1969 $250/sqft · 5% above area Est $228k · 5% over

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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
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• Schools +5.5/10.0
• ARV discount +5.0/15.0
• Rent growth +4.4/5.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice double home with 3 beds and 2 full baths. Freshly painted inside out. New laminated flooring throughout home. Double pane windows. Sheetrock walls and ceilings. Kitchen appliances are included, as well as washer and dryer. ****** OPEN HOUSE THIS SUNDAY 4/19/2026 FROM 1-3PM ******

Key facts

• Double pane windows
• Built 1969
• Listed 67 days

Tags

• NEW LAMINATED FLOORING
• DOUBLE PANE WINDOWS
• KITCHEN APPLIANCES INCLUDED
• WASHER AND DRYER INCLUDED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $240k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Recommended offer: $226k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.3% vs local median 1.6% in San Jose — 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 78/100 on livability (#68 in CA, #2,559 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: crime F, cost of living F.
• East Side Union High (urban): math 53% / reading 70% proficiency, ranked #69 of 517 in CA (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Cesar Chavez Early Learning Center (27 students, 78% FRL); Evergreen Valley High (math 76% / reading 83%, grade A-, #45 of 1,170 statewide, top 4%, 2,767 students, 13% FRL).
• Zoned-school proficiency averages 80% at this address vs 62% district-wide (+18 pts) — the actual schools serving this property are materially stronger than the East Side Union High average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+7.5%/yr); 65 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 3,838 units permitted in Santa Clara County in 2024 (1,886 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Santa Clara County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 7.5% rent growth), your $67k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 13y ago; this cycle's ask has dropped $20k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $199k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $225,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 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 1969 — 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. 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?
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: 1.41% ✓
• Cap rate: 11.33%
• Cash-on-cash: 17.98%
• DSCR: 1.80
• GRM: 5.9

CMA / ARV

• ARV (median comp): $227,500
• List price: $240,000
• Delta: 5.49%
• Verdict: FAIR
• Comps: 4 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
655 655 S. 34th St #48	0.03mi	2/2.0 (-1)	820 (-15%)	14mo	$150,000	$183	58

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 · 7.54% rent growth · sell at horizon

5-year hold

• IRR: 14.6%
• Equity multiple: 1.62×
• Total profit: $41,406
• Equity at exit: $35,785

10-year hold

• IRR: 26.5%
• Equity multiple: 3.85×
• Total profit: $191,484
• Equity at exit: $20,751

Cash invested: $67,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City San Jose: 0 Strongly Tenant-Friendly · D+24

Apartment Rent Ordinance covers pre-1979 multifamily.

Methodology + full state rankings →

ZIP-level market 95116

• Rents YoY: 7.5%
• Active inventory: 65
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $3,374 high
• Mortgage (P&I): −$1,259
• Tax est. 1.5%: −$300 /mo · $3,600/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$709
• Net cashflow: $1,007

Break-even live

Break-even rent $2,099

Max offer price $240,000

Occupancy floor 65%

Sensitivity live

Price	-10% $1,173	-5% $1,090	+0% $1,007	+5% $924	+10% $841
Rent	-10% $740	-5% $874	+0% $1,007	+5% $1,140	+10% $1,273
Rate	-1.0pp $1,128	-0.5pp $1,068	base $1,007	+0.5pp $945	+1.0pp $881

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1665 E San Antonio St Unit A San Jose, CA	2.0	1.0	900	$3,150	$3.50	6d	1	0.44mi
170 S 30th St San Jose, CA	2.0	1.0	850	$3,795	$4.46	19d	1	0.48mi
374 S 21st St Unit 2 San Jose, CA	2.0	2.0	749	$3,199	$4.27	45d	1	0.69mi
2022 Liberia Cir San Jose, CA	2.0	1.5	1000	$3,125	$3.12	25d	1	1.02mi
2340 Lendrum Ave San Jose, CA	2.0	1.0	735	$2,900	$3.95	5d	1	1.25mi
2050 McKee Rd San Jose, CA	1.0–2.0	1.0	734	$3,639	$4.96	0d	8	1.29mi
516 Martha St #111 San Jose, CA	2.0	2.0	952	$2,995	$3.15	45d	1	1.39mi
952 S 11th St San Jose, CA	1.0–2.0	1.0–2.0	1068	$3,200	$3.00	25d	1	1.41mi
49 Muirfield Ct San Jose, CA	2.0	1.5	1054	$2,998	$2.84	0d	1	1.41mi
1072 S 11th St #2 San Jose, CA	2.0	1.0	780	$3,400	$4.36	6d	1	1.46mi
2555 Alum Rock Ave San Jose, CA	1.0–2.0	1.0	620	$2,116	$3.41	0d	1	1.47mi
2601 Nuestra Castillo Ct San Jose, CA	2.0–3.0	1.0–2.0	1154	$3,960	$3.43	0d	1	1.49mi
429 S 9th St San Jose, CA	2.0	1.5	848	$2,795	$3.30	6d	1	1.50mi

Listing history 37 events

1. 2026-06-21
   days on market $240,000 Active 67 DOM
2. 2026-06-18
   days on market $240,000 Active 64 DOM
3. 2026-06-17
   days on market $240,000 Active 63 DOM
4. 2026-06-16
   days on market $240,000 Active 62 DOM
5. 2026-06-15
   days on market $240,000 Active 61 DOM
6. 2026-06-13
   days on market $240,000 Active 59 DOM
7. 2026-06-13
   days on market $240,000 Active 58 DOM
8. 2026-06-09
   days on market $240,000 Active 55 DOM
9. 2026-06-08
   days on market $240,000 Active 54 DOM
10. 2026-06-07
    days on market $240,000 Active 53 DOM
11. 2026-06-05
    days on market $240,000 Active 50 DOM
12. 2026-06-03
    days on market $240,000 Active 49 DOM
13. 2026-06-02
    days on market $240,000 Active 48 DOM
14. 2026-06-01
    days on market $240,000 Active 47 DOM
15. 2026-05-31
    pricedays on market $240,000 Active 46 DOM
16. 2026-04-15
    listed $260,000 Active 285-char remark

    Show marketing remark (285 chars)

    Nice double home with 3 beds and 2 full baths. Freshly painted inside out. New laminated flooring throughout home. Double pane windows. Sheetrock walls and ceilings. Kitchen appliances are included, as well as washer and dryer. ****** OPEN HOUSE THIS SUNDAY 4/19/2026 FROM 1-3PM ******

17. 2026-04-15
    listed $260,000 Active 285-char remark

    Show marketing remark (285 chars)

    Nice double home with 3 beds and 2 full baths. Freshly painted inside out. New laminated flooring throughout home. Double pane windows. Sheetrock walls and ceilings. Kitchen appliances are included, as well as washer and dryer. ****** OPEN HOUSE THIS SUNDAY 4/19/2026 FROM 1-3PM ******

18. 2024-05-03
    soldstatus $199,000 309-char remark

    Show marketing remark (309 chars)

    Nice double home situated in a nice family park. 3 beds 2 full baths with lots of upgrades inside out. The plumbing system has been changed to copper. Double pane windows. Sheetrock walls and ceilings. Granite countertops. Tile flooring throughout home. Kitchen appliances are included, Washer and Dryer stay.

19. 2024-05-03
    soldstatus $199,000 Sold

    Show marketing remark (309 chars)

    Nice double home situated in a nice family park. 3 beds 2 full baths with lots of upgrades inside out. The plumbing system has been changed to copper. Double pane windows. Sheetrock walls and ceilings. Granite countertops. Tile flooring throughout home. Kitchen appliances are included, Washer and Dryer stay.

20. 2024-04-12
    status Pending (Do Not Show)
21. 2024-04-02
    status Active
22. 2024-03-26
    historical Contingent
23. 2024-03-25
    status Active
24. 2024-03-04
    status Pending (Do Not Show)
25. 2024-02-23
    listed $199,000 Active

    Show marketing remark (309 chars)

    Nice double home situated in a nice family park. 3 beds 2 full baths with lots of upgrades inside out. The plumbing system has been changed to copper. Double pane windows. Sheetrock walls and ceilings. Granite countertops. Tile flooring throughout home. Kitchen appliances are included, Washer and Dryer stay.

26. 2024-02-23
    listed $199,000 309-char remark

    Show marketing remark (309 chars)

    Nice double home situated in a nice family park. 3 beds 2 full baths with lots of upgrades inside out. The plumbing system has been changed to copper. Double pane windows. Sheetrock walls and ceilings. Granite countertops. Tile flooring throughout home. Kitchen appliances are included, Washer and Dryer stay.

27. 2019-06-24
    soldstatus $162,000 Sold
28. 2019-04-18
    status Pending (Do Not Show)
29. 2019-04-01
    status Active
30. 2019-03-20
    historical Contingent
31. 2019-03-01
    status Active
32. 2019-01-22
    historical Contingent
33. 2018-11-03
    price $179,000
34. 2018-10-06
    listed $189,000 Active
35. 2013-05-23
    soldstatus $69,000 Sold
36. 2013-05-04
    status Pending (Do Not Show)
37. 2013-04-25
    listed $76,000 Active

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥93°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 17 unhealthy d/yr today · 17 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,488
• − Mortgage interest: −$13,444
• − Property taxes: −$3,600
• − Insurance: −$1,200
• − Repairs & maintenance: −$3,239
• − Management: −$3,239
• − Depreciation: −$6,982
• Taxable income: $8,784
• Est. tax owed @ 24.0%: −$2,108
• After-tax cash flow: $9,974/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: East Side Union High
• NCES district ID: 0611820
• Math proficiency: 53% ▲ 12.00%
• Reading proficiency: 70% ▲ 8.00%
• Median HH income: $80,293
• Composite: 55.15/100
• National rank: #1278
• State rank: #69 of 517 in CA

Livability — San Jose

• Score: 78/100
• State rank: #68
• US rank: #2559

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: San Jose, CA
• County: Santa Clara County · 1,806,974 people
• City population: 954,479
• Metro: San Jose-Sunnyvale-Santa Clara, CA
• Population (ZIP): 48,042
• Household income: $85,818
• Rent vs Own: 57.6% rent · 42.4% own
• Severe rent burden: 2058.0

Population outlook (Santa Clara County) Hauer SSP2

• Today (2025): 2,179,074 people
• By 2030: 2,301,297 · +5.6%
• By 2040: 2,528,195 · +16.0%
• By 2050: 2,712,135 · +24.5%
• By 2075: 2,998,701 · +37.6%
• By 2100: 2,931,429 · +34.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Hispanic / Latino 59% Asian 29% Two or more races 22% White 8% Native American 2% Black 2%
• Hispanic origin (detail): Mexican 55%
• Common ancestry: Russian 2% Slovak 1% Subsaharan African 1%
• Foreign-born: 48% · Canada, Vietnam, China
• Languages at home: 22% English-only · Spanish 49% Vietnamese 12% Tagalog/Filipino 6%

Political lean MEDSL · Santa Clara

• 2024 margin: Solid D (+40.0) · D 68.1% · R 28.1% · Other 3.8%
• 2008→2024 swing: -0.9pp no change · 2008: 40.9pp · 2024: 40.0pp
• All cycles: 2024: D+40.0 2020: D+47.4 2016: D+52.5 2012: D+42.1 2008: D+40.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -623.43%
• Current HPI: 352.328
• Rent YoY: ▲ 7.54%
• Metro: San Jose-Sunnyvale-Santa Clara, 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

+242.1% since first listed

22 events — show timeline

• 2026-04-15 Listed $260,000 MLSListings
• 2026-04-15 Listed $260,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2024-05-03 Sold (MLS) $199,000 MLSListings
• 2024-05-03 Sold (MLS) $199,000 San Francisco MLS
• 2024-04-12 Pending — MLSListings
• 2024-04-02 Relisted — MLSListings
• 2024-03-26 Contingent — MLSListings
• 2024-03-25 Relisted — MLSListings
• 2024-03-04 Pending — MLSListings
• 2024-02-23 Listed $199,000 MLSListings
• 2024-02-23 Listed $199,000 San Francisco MLS
• 2019-06-24 Sold (MLS) $162,000 MLSListings
• 2019-04-18 Pending — MLSListings
• 2019-04-01 Relisted — MLSListings
• 2019-03-20 Contingent — MLSListings
• 2019-03-01 Relisted — MLSListings
• 2019-01-22 Contingent — MLSListings
• 2018-11-03 Price Changed $179,000 MLSListings
• 2018-10-06 Listed $189,000 MLSListings
• 2013-05-23 Sold (MLS) $69,000 MLSListings
• 2013-05-04 Pending — MLSListings
• 2013-04-25 Listed $76,000 MLSListings