2399 E 14th St #60 · San Leandro, CA 94577

$159,900

3 bd · 2.0 ba · 960 sqft · Manufactured public records · 9 Days on market

Built 2001 Est $155k · 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 +5.9/15.0
• Schools +3.4/10.0
• Livability +3.4/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This immaculant 3 bed 2 bath mobile home is a must see, in an ALL AGE PARK. It is a lot of bang for the buck! It offer's an open floor and the abundance of natural light. Out side it has a fenced front yard and private parking if desired.

Key facts

• Private parking
• Fenced front yard
• Built 2001

Tags

• FENCED FRONT YARD
• PRIVATE PARKING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $160k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $160k).
• Cap rate 15.5% vs local median 2.0% in San Leandro — 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 68/100 on livability (#289 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, health & safety A+; Watch: amenities C-, schools D, crime F.
• San Leandro Unified (urban): math 28% / reading 42% proficiency, ranked #831 of 1,400 in CA (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.7%/yr); 106 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).
• This rent runs 30% of the median local income ($109k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Alameda County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.7% rent growth), your $45k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $159,900

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 D-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: 1.71% ✓
• Cap rate: 15.46%
• Cash-on-cash: 32.73%
• DSCR: 2.46
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $154,560
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2399 E 14th St #60	0.00mi	3/2.0	1,018 (+6%)	1mo	$163,900	$161	89
2399 E 14th St #179	0.04mi	2/2.0 (-1)	960 (0%)	6mo	$120,000	$125	88

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 · 1.74% rent growth · sell at horizon

5-year hold

• IRR: 26.5%
• Equity multiple: 2.08×
• Total profit: $48,381
• Equity at exit: $23,842

10-year hold

• IRR: 33.4%
• Equity multiple: 3.87×
• Total profit: $128,350
• Equity at exit: $13,825

Cash invested: $44,772 (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 94577

• Rents YoY: 1.7%
• Active inventory: 106
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $2,727 high
• Mortgage (P&I): −$839
• Tax from tax record: −$28 /mo · $334/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$573
• Net cashflow: $1,221

Break-even live

Break-even rent $1,181

Max offer price $159,900

Occupancy floor 50%

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
85 Estabrook St San Leandro, CA	1.0–2.0	1.0–2.0	800	$2,775	$3.47	5d	7	0.13mi
2251 Buena Vista Ave Apt 19 San Leandro, CA	2.0	1.0	750	$2,350	$3.13	15d	1	0.17mi
2795 San Leandro Blvd San Leandro, CA	2.0	1.0	663	$2,700	$4.07	43d	1	0.17mi
13495 Bancroft Ave San Leandro, CA	1.0–2.0	1.0	745	$2,495	$3.35	10d	2	0.25mi
70 Harlan St San Leandro, CA	2.0	1.0	690	$2,495	$3.62	2d	6	0.32mi
2027 Washington Ave Unit 1 San Leandro, CA	2.0	1.0	950	$2,600	$2.74	20d	1	0.33mi
2027 Washington Ave San Leandro, CA	2.0	1.0	950	$2,600	$2.74	15d	1	0.33mi
14101 E 14th St #201 San Leandro, CA	2.0	2.0	1000	$2,650	$2.65	43d	1	0.46mi
1774 Bancroft Ave San Leandro, CA	2.0	1.0	815	$3,000	$3.68	5d	1	0.49mi
1675 Hays St San Leandro, CA	1.0–2.0	1.5–2.0	859	$2,645	$3.08	43d	3	0.58mi
475 Juana Ave Unit 06 San Leandro, CA	2.0	1.5	800	$2,395	$2.99	43d	1	0.60mi
900 143rd Ave San Leandro, CA	2.0	2.0	972	$2,746	$2.83	1d	1	0.68mi
1720 142nd Ave San Leandro, CA	2.0	1.0	820	$2,895	$3.53	24d	1	0.70mi
560 Estudillo Ave San Leandro, CA	2.0	1.0	900	$2,495	$2.77	3d	1	0.78mi
566 Estudillo Ave San Leandro, CA	2.0	1.0	900	$2,495	$2.77	12d	1	0.79mi
424 Callan Ave San Leandro, CA	1.0–2.0	1.0–2.0	950	$2,723	$2.87	20d	6	0.83mi
1600 Grand Ave San Leandro, CA	1.0–2.0	1.0	900	$2,695	$2.99	43d	1	0.84mi
14700 Pansy St San Leandro, CA	2.0	2.5	1112	$3,495	$3.14	5d	1	0.84mi
1255 Hays St Unit 8 San Leandro, CA	2.0	2.0	1050	$2,295	$2.19	24d	1	0.86mi
1255 Hays St Unit 17 San Leandro, CA	2.0	1.0	950	$2,195	$2.31	43d	1	0.86mi
100 Callan Ave San Leandro, CA	2.0	1.0–2.0	687	$3,011	$4.38	1d	6	0.86mi
959 Joaquin Ave Unit T955E San Leandro, CA	2.0	1.0	832	$2,450	$2.94	18d	1	0.92mi
14615 Saturn Dr Unit B San Leandro, CA	2.0	1.0	1000	$2,995	$3.00	43d	1	0.96mi
14822 E 14th St San Leandro, CA	2.0	2.0	953	$2,300	$2.41	18d	1	0.99mi
235 Haas Ave San Leandro, CA	1.0–2.0	1.0–2.0	710	$2,685	$3.78	2d	8	1.02mi
179 Haas Ave Apt 11 San Leandro, CA	2.0	1.0	800	$2,575	$3.22	43d	1	1.04mi
150 Haas Ave San Leandro, CA	2.0	1.0	930	$2,400	$2.58	5d	1	1.08mi
14744 Washington Ave San Leandro, CA	1.0–2.0	1.0–2.0	860	$2,645	$3.08	12d	18	1.13mi
902 Davis St San Leandro, CA	1.0–2.0	1.0–2.0	756	$2,875	$3.80	5d	11	1.21mi
Corvallis St San Leandro, CA	3.0	1.0	1100	$3,600	$3.27	1d	1	1.21mi
14700 Washington Ave San Leandro, CA	1.0–2.0	1.0	724	$6,399	$8.84	1d	8	1.28mi
14772 Midland Rd Unit C San Leandro, CA	3.0	1.0	950	$2,999	$3.16	10d	1	1.30mi
554 Bancroft Ave San Leandro, CA	2.0	1.0	694	$2,200	$3.17	43d	1	1.31mi
11818 Foothill Way Unit 3 Oakland, CA	2.0	1.0	1000	$1,995	$2.00	43d	1	1.43mi
170 Stoakes Ave Unit 9 San Leandro, CA	2.0	1.0	900	$2,295	$2.55	15d	1	1.43mi
439 Central Ct San Leandro, CA	2.0	1.0	1100	$2,895	$2.63	43d	1	1.50mi

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $334 · $28/mo
• Projected year-2 tax: $1,215 · $101/mo
• Expected delta: +$882/yr (+$73/mo · 264.1%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥84°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 12 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,720
• − Mortgage interest: −$8,957
• − Property taxes: −$334
• − Insurance: −$800
• − Repairs & maintenance: −$2,618
• − Management: −$2,618
• − Depreciation: −$4,652
• Taxable income: $12,743
• Est. tax owed @ 24.0%: −$3,058
• After-tax cash flow: $11,595/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: San Leandro Unified
• NCES district ID: 0634680
• Math proficiency: 28% ▲ 3.00%
• Reading proficiency: 42% ▲ 5.00%
• Median HH income: $63,377
• Composite: 34.23/100
• National rank: #10252
• State rank: #831 of 1400 in CA

Livability — San Leandro

• Score: 68/100
• State rank: #289
• US rank: #9768

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: San Leandro, CA
• County: Alameda County · 1,614,355 people
• City population: 88,086
• Metro: San Francisco-Oakland-Berkeley, CA
• Population (ZIP): 46,317
• Household income: $108,772
• Rent vs Own: 44.5% rent · 55.5% own
• Severe rent burden: 2005.0

Population outlook (Alameda County) Hauer SSP2

• Today (2025): 1,928,884 people
• By 2030: 2,069,146 · +7.3%
• By 2040: 2,338,405 · +21.2%
• By 2050: 2,586,608 · +34.1%
• By 2075: 3,061,911 · +58.7%
• By 2100: 3,234,133 · +67.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.76)
• Race & ethnicity: Hispanic / Latino 31% Asian 28% White 23% Two or more races 14% Black 12% Native American 2% Pacific Islander 1%
• Hispanic origin (detail): Mexican 23%
• Common ancestry: Russian 2% Italian 1% Lithuanian 1%
• Foreign-born: 34% · Canada, China, Vietnam
• Languages at home: 51% English-only · Spanish 23% Chinese 10% Tagalog/Filipino 7%

Political lean MEDSL · Alameda

• 2024 margin: Solid D (+53.6) · D 74.6% · R 21.0% · Other 4.4%
• 2008→2024 swing: -5.9pp toward R · 2008: 59.5pp · 2024: 53.6pp
• All cycles: 2024: D+53.6 2020: D+62.5 2016: D+64.4 2012: D+59.8 2008: D+59.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -867.55%
• Current HPI: 265.2446
• Rent YoY: ▲ 1.74%
• Metro: San Francisco-Oakland-Berkeley, 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

Property tax history

+0.7%/yr

Latest (2025): $334 · +0.9% YoY. Source: county tax records.