700 E Gobbi St #131 · Ukiah, CA 95482

$29,900

2 bd · 2.0 ba · 1,296 sqft · Manufactured · 518 Days on market

Built 1974 $23/sqft · 62% below area ↓ 57% 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.0/5.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Presenting a customization opportunity in the desirable Manor Oaks Senior Mobile Home Park. The home boasts a large open layout for the living, dining room and kitchen. One bedroom faces West with sunset views, and the other on the East receives the sunrise light; both bedrooms have fresh interior paint and partial upgraded bathrooms. The lot offers a few versions of serene peace; redevelop the backyard, enjoy the oversized southern facing porch or create a lush tropic garden escape in the northern nook. The park offers a club house with games, gathering space, a billiard table and hosted group events as well as an outdoor in-ground pool. The park location is conveniently adjacent to Highway 101, walking distance to shopping and dining, close to public transportation, it is obvious why it is one of the most sought after locations.

Key facts

• Outdoor pool
• Large open layout
• Sunrise light

Tags

• LARGE OPEN LAYOUT
• SUNSET VIEWS
• SUNRISE LIGHT
• SERIES OF UPGRADES
• OUTDOOR POOL

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $30k.

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 ($2k rent vs $30k).
• Recommended offer: $26k (12.0% below list) — sets the bar for market timing.
• Cap rate 72.1% vs local median 3.0% in Ukiah — 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 64/100 on livability (#425 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, health & safety A+; Watch: schools C-, employment D, crime D-.
• Ukiah Unified (town): math 24% / reading 37% proficiency, ranked #1,018 of 1,400 in CA (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.1%/yr); 153 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 8 units permitted in Mendocino County in 2024 (0 in 5+ unit buildings).
• This rent runs 40% of the median local income ($70k/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 $207 of loan paydown is wiped out by about $897 of value loss. Plan a longer hold.
• Mendocino County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 6.1% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 518 days — a 12% lower offer ($26k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 2y ago; this cycle's ask has dropped $23k (43%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wildfire risk; extreme-heat days projected 6→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $26,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 518 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 7.82% ✓
• Cap rate: 72.13%
• Cash-on-cash: 235.13%
• DSCR: 11.46
• GRM: 1.1

CMA / ARV

• ARV (median comp): $79,500
• List price: $29,900
• Delta: -62.39%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
700 E Gobbi St #53	0.03mi	3/2.0 (+1)	1,344 (+4%)	6mo	$15,000	$11	83
660 Leslie St #80	0.43mi	2/1.5	1,300 (+0%)	2mo	$117,500	$90	76
460 E Gobbi St #3	0.28mi	2/2.0	1,440 (+11%)	0mo	$79,500	$55	68
660 Leslie St #25	0.37mi	3/2.0 (+1)	1,320 (+2%)	8mo	$169,000	$128	68
460 E Gobbi St #28	0.30mi	2/2.0	1,416 (+9%)	8mo	$70,000	$49	64
700 E Gobbi St #55	0.00mi	3/2.0 (+1)	1,440 (+11%)	14mo	$107,000	$74	64
660 Leslie St #11	0.41mi	2/2.0	1,440 (+11%)	3mo	$130,000	$90	60
460 E Gobbi St #27	0.28mi	2/2.0	1,440 (+11%)	16mo	$75,000	$52	56
460 E Gobbi St #5	0.28mi	2/2.0	1,150 (-11%)	16mo	$96,500	$84	55
660 Leslie St #68	0.40mi	3/2.0 (+1)	1,440 (+11%)	8mo	$80,000	$56	52
660 Leslie St #56	0.39mi	2/2.0	1,150 (-11%)	14mo	$94,000	$82	51
460 E 460 E. Gobbi St #59	0.28mi	2/1.5	1,120 (-14%)	15mo	$85,000	$76	50

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 · 6.07% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 10.58×
• Total profit: $80,208
• Equity at exit: $4,458

10-year hold

• IRR: —
• Equity multiple: 25.26×
• Total profit: $203,137
• Equity at exit: $2,585

Cash invested: $8,372 (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 95482

• Rents YoY: 6.1%
• Active inventory: 153
• Price-to-rent: 1.1×

Monthly cashflow live

• Estimated rent: $2,338 medium
• Mortgage (P&I): −$157
• Tax est. 1.5%: −$37 /mo · $448/yr
• Insurance: −$12
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$491
• Net cashflow: $1,214

Break-even live

Break-even rent $801

Max offer price $29,900

Occupancy floor 43%

Sensitivity live

Price	-10% $1,235	-5% $1,224	+0% $1,214	+5% $1,204	+10% $1,193
Rent	-10% $1,029	-5% $1,122	+0% $1,214	+5% $1,306	+10% $1,399
Rate	-1.0pp $1,229	-0.5pp $1,221	base $1,214	+0.5pp $1,206	+1.0pp $1,198

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: $7,475
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
705 El Rio St Unit D Ukiah, CA	3.0	1.5	1000	$2,195	$2.19	45d	1	0.16mi
570 Pomo Dr Ukiah, CA	3.0	2.0	1306	$2,650	$2.03	45d	1	0.20mi

Listing history 31 events

1. 2026-06-19
   days on market $29,900 Active 518 DOM
2. 2026-06-18
   days on market $29,900 Active 517 DOM
3. 2026-06-17
   days on market $29,900 Active 516 DOM
4. 2026-06-16
   days on market $29,900 Active 515 DOM
5. 2026-06-15
   days on market $29,900 Active 514 DOM
6. 2026-06-14
   days on market $29,900 Active 512 DOM
7. 2026-06-12
   days on market $29,900 Active 511 DOM
8. 2026-06-09
   days on market $29,900 Active 508 DOM
9. 2026-06-08
   days on market $29,900 Active 507 DOM
10. 2026-06-07
    days on market $29,900 Active 506 DOM
11. 2026-06-05
    days on market $29,900 Active 503 DOM
12. 2026-06-03
    days on market $29,900 Active 502 DOM
13. 2026-06-02
    days on market $29,900 Active 501 DOM
14. 2026-06-01
    days on market $29,900 Active 500 DOM
15. 2026-05-31
    days on market $29,900 Active 499 DOM
16. 2026-05-30
    days on market $29,900 Active 498 DOM
17. 2026-05-04
    price $29,900 842-char remark

    Show marketing remark (842 chars)

    Presenting a customization opportunity in the desirable Manor Oaks Senior Mobile Home Park. The home boasts a large open layout for the living, dining room and kitchen. One bedroom faces West with sunset views, and the other on the East receives the sunrise light; both bedrooms have fresh interior paint and partial upgraded bathrooms. The lot offers a few versions of serene peace; redevelop the backyard, enjoy the oversized southern facing porch or create a lush tropic garden escape in the northern nook. The park offers a club house with games, gathering space, a billiard table and hosted group events as well as an outdoor in-ground pool. The park location is conveniently adjacent to Highway 101, walking distance to shopping and dining, close to public transportation, it is obvious why it is one of the most sought after locations.

18. 2026-02-24
    price $41,900 842-char remark

    Show marketing remark (842 chars)

    Presenting a customization opportunity in the desirable Manor Oaks Senior Mobile Home Park. The home boasts a large open layout for the living, dining room and kitchen. One bedroom faces West with sunset views, and the other on the East receives the sunrise light; both bedrooms have fresh interior paint and partial upgraded bathrooms. The lot offers a few versions of serene peace; redevelop the backyard, enjoy the oversized southern facing porch or create a lush tropic garden escape in the northern nook. The park offers a club house with games, gathering space, a billiard table and hosted group events as well as an outdoor in-ground pool. The park location is conveniently adjacent to Highway 101, walking distance to shopping and dining, close to public transportation, it is obvious why it is one of the most sought after locations.

19. 2026-02-20
    status Active 842-char remark

    Show marketing remark (842 chars)

    Presenting a customization opportunity in the desirable Manor Oaks Senior Mobile Home Park. The home boasts a large open layout for the living, dining room and kitchen. One bedroom faces West with sunset views, and the other on the East receives the sunrise light; both bedrooms have fresh interior paint and partial upgraded bathrooms. The lot offers a few versions of serene peace; redevelop the backyard, enjoy the oversized southern facing porch or create a lush tropic garden escape in the northern nook. The park offers a club house with games, gathering space, a billiard table and hosted group events as well as an outdoor in-ground pool. The park location is conveniently adjacent to Highway 101, walking distance to shopping and dining, close to public transportation, it is obvious why it is one of the most sought after locations.

20. 2025-08-18
    status Active 842-char remark

    Show marketing remark (842 chars)

    Presenting a customization opportunity in the desirable Manor Oaks Senior Mobile Home Park. The home boasts a large open layout for the living, dining room and kitchen. One bedroom faces West with sunset views, and the other on the East receives the sunrise light; both bedrooms have fresh interior paint and partial upgraded bathrooms. The lot offers a few versions of serene peace; redevelop the backyard, enjoy the oversized southern facing porch or create a lush tropic garden escape in the northern nook. The park offers a club house with games, gathering space, a billiard table and hosted group events as well as an outdoor in-ground pool. The park location is conveniently adjacent to Highway 101, walking distance to shopping and dining, close to public transportation, it is obvious why it is one of the most sought after locations.

21. 2025-08-12
    historical Contingent (Show) 842-char remark

    Show marketing remark (842 chars)

    Presenting a customization opportunity in the desirable Manor Oaks Senior Mobile Home Park. The home boasts a large open layout for the living, dining room and kitchen. One bedroom faces West with sunset views, and the other on the East receives the sunrise light; both bedrooms have fresh interior paint and partial upgraded bathrooms. The lot offers a few versions of serene peace; redevelop the backyard, enjoy the oversized southern facing porch or create a lush tropic garden escape in the northern nook. The park offers a club house with games, gathering space, a billiard table and hosted group events as well as an outdoor in-ground pool. The park location is conveniently adjacent to Highway 101, walking distance to shopping and dining, close to public transportation, it is obvious why it is one of the most sought after locations.

22. 2025-05-19
    price $49,900 842-char remark

    Show marketing remark (842 chars)

    Presenting a customization opportunity in the desirable Manor Oaks Senior Mobile Home Park. The home boasts a large open layout for the living, dining room and kitchen. One bedroom faces West with sunset views, and the other on the East receives the sunrise light; both bedrooms have fresh interior paint and partial upgraded bathrooms. The lot offers a few versions of serene peace; redevelop the backyard, enjoy the oversized southern facing porch or create a lush tropic garden escape in the northern nook. The park offers a club house with games, gathering space, a billiard table and hosted group events as well as an outdoor in-ground pool. The park location is conveniently adjacent to Highway 101, walking distance to shopping and dining, close to public transportation, it is obvious why it is one of the most sought after locations.

23. 2025-05-19
    status Active 842-char remark

    Show marketing remark (842 chars)

    Presenting a customization opportunity in the desirable Manor Oaks Senior Mobile Home Park. The home boasts a large open layout for the living, dining room and kitchen. One bedroom faces West with sunset views, and the other on the East receives the sunrise light; both bedrooms have fresh interior paint and partial upgraded bathrooms. The lot offers a few versions of serene peace; redevelop the backyard, enjoy the oversized southern facing porch or create a lush tropic garden escape in the northern nook. The park offers a club house with games, gathering space, a billiard table and hosted group events as well as an outdoor in-ground pool. The park location is conveniently adjacent to Highway 101, walking distance to shopping and dining, close to public transportation, it is obvious why it is one of the most sought after locations.

24. 2024-10-30
    listed $52,900 Active 842-char remark

    Show marketing remark (842 chars)

    Presenting a customization opportunity in the desirable Manor Oaks Senior Mobile Home Park. The home boasts a large open layout for the living, dining room and kitchen. One bedroom faces West with sunset views, and the other on the East receives the sunrise light; both bedrooms have fresh interior paint and partial upgraded bathrooms. The lot offers a few versions of serene peace; redevelop the backyard, enjoy the oversized southern facing porch or create a lush tropic garden escape in the northern nook. The park offers a club house with games, gathering space, a billiard table and hosted group events as well as an outdoor in-ground pool. The park location is conveniently adjacent to Highway 101, walking distance to shopping and dining, close to public transportation, it is obvious why it is one of the most sought after locations.

25. 2024-08-12
    status Active
26. 2024-08-02
    historical Contingent (Show)
27. 2024-07-26
    status Active
28. 2024-07-21
    historical
29. 2024-06-15
    price $59,900
30. 2024-05-21
    price $69,500
31. 2024-05-21
    listed $69,000 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 4/10 Moderate FEMA zone AE · 22% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 6/10 Major 6 d/yr ≥100°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 20 unhealthy d/yr today · 22 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,056
• − Mortgage interest: −$1,675
• − Property taxes: −$448
• − Insurance: −$5,268
• − Repairs & maintenance: −$2,244
• − Management: −$2,244
• − Depreciation: −$870
• Taxable income: $15,306
• Est. tax owed @ 24.0%: −$3,673
• After-tax cash flow: $10,893/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: Ukiah Unified
• NCES district ID: 0640300
• Math proficiency: 24% ▲ 2.00%
• Reading proficiency: 37% ▲ 4.00%
• Median HH income: $47,865
• Composite: 29.21/100
• National rank: #11858
• State rank: #1018 of 1400 in CA

Livability — Ukiah

• Score: 64/100
• State rank: #425
• US rank: #14442

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ukiah, CA
• County: Mendocino County · 33,164 people
• City population: 33,164
• Metro: Ukiah, CA
• Population (ZIP): 33,164
• Household income: $69,772
• Rent vs Own: 44.7% rent · 55.3% own
• Severe rent burden: 1349.0

Population outlook (Mendocino County) Hauer SSP2

• Today (2025): 84,643 people
• By 2030: 82,138 · -3.0%
• By 2040: 76,402 · -9.7%
• By 2050: 71,759 · -15.2%
• By 2075: 61,454 · -27.4%
• By 2100: 50,130 · -40.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 57% Hispanic / Latino 32% Two or more races 18% Asian 3% Native American 2% Black 1%
• Hispanic origin (detail): Mexican 30%
• Common ancestry: Slovak 3% Italian 2% Lithuanian 2%
• Foreign-born: 16% · Canada, China, Vietnam
• Languages at home: 71% English-only · Spanish 25% Chinese 1% Tagalog/Filipino 1%

Political lean MEDSL · Mendocino

• 2024 margin: Strong D (+26.8) · D 61.3% · R 34.5% · Other 4.2%
• 2008→2024 swing: -16.0pp toward R · 2008: 42.8pp · 2024: 26.8pp
• All cycles: 2024: D+26.8 2020: D+35.8 2016: D+29.1 2012: D+37.6 2008: D+42.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -485.34%
• Current HPI: 164.6978
• Rent YoY: ▲ 6.07%
• Metro: Ukiah, 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

-56.7% since first listed

15 events — show timeline

• 2026-05-04 Price Changed $29,900 BAREIS
• 2026-02-24 Price Changed $41,900 BAREIS
• 2026-02-20 Relisted — BAREIS
• 2025-08-18 Relisted — BAREIS
• 2025-08-12 Contingent — BAREIS
• 2025-05-19 Price Changed $49,900 BAREIS
• 2025-05-19 Relisted — BAREIS
• 2024-10-30 Listed $52,900 BAREIS
• 2024-08-12 Relisted — BAREIS
• 2024-08-02 Contingent — BAREIS
• 2024-07-26 Relisted — BAREIS
• 2024-07-21 Delisted — BAREIS
• 2024-06-15 Price Changed $59,900 BAREIS
• 2024-05-21 Price Changed $69,500 BAREIS
• 2024-05-21 Listed $69,000 BAREIS