314 S Main St #100

Angels, CA 95221

$65,900B+

2 bd · 2.0 ba · 1,100 sqft · Built 1971 · Manufactured · Active · 21 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,137/mo
• Mortgage (P&I): −$346
• Tax + insurance: −$41
• HOA: −$0
• Vac / Maint / Mgmt: −$239
• Net cashflow: $512/mo
• Annual: $6,141/yr
• Cap rate: 15.61%
• Cash-on-cash: 33.28%
• DSCR: 2.48
• 1% rule: 1.73%
• Cash to close: $18,452

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $66k.
• At list price, monthly cash flow is $512 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $66k).
• It's been on market 21 days — a 2% lower offer ($65k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $65k (1.5% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($456 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads 69/100 on livability (#265 in CA) — a middle-class / working-renter tenant base. Strengths: health & safety A+, crime B+, schools B; Watch: amenities F, commute F, cost of living F.
• Bret Harte Union High (town): math 35% / reading 65% proficiency, ranked #429 of 1,400 in CA (top 31%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 1 active listings in the ZIP; 77 units permitted in Calaveras County in 2024 (0 in 5+ unit buildings).
• Calaveras County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 6→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 15.6% vs local median 4.5% in Angels — 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.

Questions for listing agent

• Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.
• 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.
• 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.