28259 Murcia St #388 · Hayward, CA 94544

$378,888

3 bd · 2.0 ba · 1,532 sqft · Manufactured · 4 Days on market

Built 1992 Good condition Est $363k · at est. $5/mo HOA

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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 +18.2/30.0
• DSCR +5.7/10.0
• ARV discount +5.5/15.0
• 1% rule +4.9/10.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Rent growth +3.1/5.0
• Schools +3.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautifully maintained home located in the desirable Spanish Ranch I community in Hayward. This spacious 3 bedroom, 2 bath residence offers 1,532 square feet of comfortable living space with thoughtful updates throughout. Step inside to a bright and open living and dining room combination featuring vaulted ceilings, laminate flooring, and abundant natural light creating a warm and inviting atmosphere perfect for both everyday living and entertaining. The well-appointed kitchen features oak cabinetry, granite countertops, pantry storage, and a cozy breakfast nook ideal for morning coffee or casual dining. The spacious primary suite offers ample closet space including a walk-in closet, along with an updated ensuite bathroom featuring a stall shower and additional storage. Two additional bedrooms provide flexibility for guests, a home office, or growing household needs. Other features include an Indoor laundry with storage, central A/C and forced-air heating along with updated finishes. Located in a well-maintained community close to shopping, dining, commuter routes, and BART. This home offers both comfort and convenience in a prime Hayward location. A wonderful opportunity to own a move-in ready home with space, style, and value. Welcome Home!

Key facts

• Cozy breakfast nook
• Oak cabinetry
• Ample closet space

Tags

• WELL-APPOINTED KITCHEN
• OAK CABINETRY
• GRANITE COUNTERTOPS
• COZY BREAKFAST NOOK
• SPACIOUS PRIMARY SUITE
• AMPLE CLOSET SPACE

Property features AI

Finance

• Other: Age restrictions: none (board approval applies); Pets allowed: cats and dogs permitted
• HOA & community: Has HOA (fees include other items; small HOA fee); Community amenities: additional storage, car wash area, clubhouse, common utility room, community pool, game court (outdoor), RV/boat storage, tennis court/facility

Exterior

• Parking: Carport with space for 3 vehicles; Guest / visitor parking; Assigned space number 388 (space rent applies)
• Security: Community security gate
• Utilities: Public water; Public sewer; Public utilities
• Home design: Single-story property
• Construction: Manufactured home sections (Section serial numbers listed)
• Exterior features: Shingle roof; Leased land (park home site)

Interior

• Kitchen: Gas cooktop; Granite countertops; Dishwasher; Exhaust fan; Garbage disposal; Ice maker hookups and ice maker; Microwave; Oven/range; Refrigerator
• Bedrooms: 3 bedrooms (one with walk-in closet)
• Flooring: Laminate; Vinyl / linoleum
• Bathrooms: 2 full bathrooms; Shower and tub; Stall shower
• Heating & cooling: Central forced air heating and cooling
• Interior features: Separate family room; Breakfast nook / dining area; Pantry cabinet; Skylights; Walk-in closet
• Laundry & utility: Washer and dryer in unit; Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $379k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $340 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $375k (1.0% below list).
• Recommended offer: $375k (1.0% below list) — sets the bar for 1% rule.
• Cap rate 7.4% vs local median 2.1% in Hayward — 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 75/100 on livability (#124 in CA, #4,294 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, health & safety A+; Watch: schools D, crime F, cost of living F.
• Hayward Unified (urban): math 25% / reading 37% proficiency, ranked #935 of 1,400 in CA (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.6%/yr); 169 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).
• This rent runs 42% of the median local income ($108k/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 $3k of loan paydown is wiped out by about $11k 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.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $375,142 (1.0% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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?
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: 0.99% ✗
• Cap rate: 7.37%
• Cash-on-cash: 3.85%
• DSCR: 1.17
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $363,084
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1580 Balein Ct #14	0.13mi	3/2.0	1,458 (-5%)	6mo	$350,000	$240	81
1541 Ortega Ave	0.09mi	3/2.0	1,700 (+11%)	4mo	$389,900	$229	74
1438 Buckingham Way	0.31mi	2/2.0 (-1)	1,440 (-6%)	2mo	$270,000	$188	69
2284 Bourbon #61	0.58mi	3/2.0	1,534 (+0%)	7mo	$410,300	$267	67
2329 Bridwell Way	0.61mi	3/2.0	1,537 (+0%)	6mo	$385,000	$250	66
1400 Buckingham Way	0.47mi	3/2.0	1,607 (+5%)	6mo	$385,000	$240	65
1439 Almeria Dr	0.16mi	2/2.0 (-1)	1,368 (-11%)	7mo	$209,900	$153	64
28290 Applegate	0.51mi	3/2.0	1,440 (-6%)	4mo	$340,000	$236	63
29050 S Westminster	0.58mi	2/2.0 (-1)	1,440 (-6%)	5mo	$259,000	$180	54
2470 Bourbon Dr	0.72mi	3/2.0	1,344 (-12%)	1mo	$355,000	$264	45
29413 Sandburg Way	0.71mi	2/2.0 (-1)	1,380 (-10%)	5mo	$327,000	$237	41
29270 Sandburg Way #234	0.73mi	2/2.0 (-1)	1,683 (+10%)	7mo	$345,000	$205	38

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 · 2.58% rent growth · sell at horizon

5-year hold

• IRR: -10.7%
• Equity multiple: 0.61×
• Total profit: $-41,247
• Equity at exit: $56,493

10-year hold

• IRR: -2.0%
• Equity multiple: 0.87×
• Total profit: $-14,197
• Equity at exit: $32,759

Cash invested: $106,089 (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 94544

• Rents YoY: 2.6%
• Active inventory: 169
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $3,751 high
• Mortgage (P&I): −$1,987
• Tax est. 1.5%: −$474 /mo · $5,683/yr
• Insurance: −$158
• HOA: −$5
• Vacancy / Maint / Mgmt: −$788
• Net cashflow: $340

Break-even live

Break-even rent $3,321

Max offer price $378,888

Occupancy floor 86%

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: $94,722
• Closing costs: $11,367
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
28187 Karn Dr Hayward, CA	3.0	2.5	1335	$3,300	$2.47	4d	1	0.58mi
685 Carmar St Hayward, CA	4.0	2.0	1569	$3,900	$2.49	21d	1	0.75mi
27715 Cliffwood Ave Hayward, CA	3.0	2.0	1128	$3,800	$3.37	43d	1	0.94mi
981 Cheryl Ann Cir #40 Hayward, CA	3.0	2.0	1245	$3,800	$3.05	43d	1	0.96mi
2540 Lakeport Dr Hayward, CA	4.0	2.5	2134	$3,950	$1.85	1d	1	1.01mi
29189 Lassen St Hayward, CA	3.0	2.0	1180	$3,500	$2.97	43d	1	1.12mi
1234 McFarlane Ln Hayward, CA	3.0	2.0	1311	$3,660	$2.79	12d	1	1.14mi
2901 Sorrento Way Union City, CA	3.0	2.5	1869	$5,000	$2.68	1d	1	1.21mi
75 Quist Ave Hayward, CA	4.0	2.5	1866	$3,895	$2.09	12d	1	1.23mi
27703 Persimmon Dr Hayward, CA	3.0	3.0	1549	$3,695	$2.39	43d	1	1.25mi
317 Tennyson Rd Hayward, CA	3.0	1.0	1050	$3,395	$3.23	12d	1	1.27mi
26730 Tyrrell Ave Hayward, CA	4.0	2.0	1250	$3,650	$2.92	43d	1	1.27mi
27479 Green Wood Rd Unit 1546495P Hayward, CA	4.0	2.0	2120	$5,258	$2.48	14d	1	1.37mi
149 Orchard Park Pl Hayward, CA	4.0	3.0	2089	$5,000	$2.39	43d	1	1.41mi
29163 Dixon St Hayward, CA	2.0–3.0	1.0–1.5	1100	$3,595	$3.27	1d	5	1.41mi
111 Notion Way Hayward, CA	3.0	2.5	1718	$4,250	$2.47	43d	1	1.44mi
3154 Sugar Beet Way Union City, CA	4.0	2.0	1412	$4,150	$2.94	1d	1	1.46mi
26754 Contessa St Hayward, CA	3.0	2.0	1527	$4,000	$2.62	21d	1	1.47mi
206 Span Ct Hayward, CA	3.0	3.5	1888	$2,600	$1.38	43d	1	1.48mi

HOA detail

• Monthly dues: $5 · $60/yr

Listing history 2 events

1. 2026-05-22
   listed $378,888 Active 1278-char remark

   Show marketing remark (1278 chars)

   Welcome to this beautifully maintained home located in the desirable Spanish Ranch I community in Hayward. This spacious 3 bedroom, 2 bath residence offers 1,532 square feet of comfortable living space with thoughtful updates throughout. Step inside to a bright and open living and dining room combination featuring vaulted ceilings, laminate flooring, and abundant natural light creating a warm and inviting atmosphere perfect for both everyday living and entertaining. The well-appointed kitchen features oak cabinetry, granite countertops, pantry storage, and a cozy breakfast nook ideal for morning coffee or casual dining. The spacious primary suite offers ample closet space including a walk-in closet, along with an updated ensuite bathroom featuring a stall shower and additional storage. Two additional bedrooms provide flexibility for guests, a home office, or growing household needs. Other features include an Indoor laundry with storage, central A/C and forced-air heating along with updated finishes. Located in a well-maintained community close to shopping, dining, commuter routes, and BART. This home offers both comfort and convenience in a prime Hayward location. A wonderful opportunity to own a move-in ready home with space, style, and value. Welcome Home!

2. 2026-05-22
   listed $378,888 Active 1278-char remark

   Show marketing remark (1278 chars)

   Welcome to this beautifully maintained home located in the desirable Spanish Ranch I community in Hayward. This spacious 3 bedroom, 2 bath residence offers 1,532 square feet of comfortable living space with thoughtful updates throughout. Step inside to a bright and open living and dining room combination featuring vaulted ceilings, laminate flooring, and abundant natural light creating a warm and inviting atmosphere perfect for both everyday living and entertaining. The well-appointed kitchen features oak cabinetry, granite countertops, pantry storage, and a cozy breakfast nook ideal for morning coffee or casual dining. The spacious primary suite offers ample closet space including a walk-in closet, along with an updated ensuite bathroom featuring a stall shower and additional storage. Two additional bedrooms provide flexibility for guests, a home office, or growing household needs. Other features include an Indoor laundry with storage, central A/C and forced-air heating along with updated finishes. Located in a well-maintained community close to shopping, dining, commuter routes, and BART. This home offers both comfort and convenience in a prime Hayward location. A wonderful opportunity to own a move-in ready home with space, style, and value. Welcome Home!

ⓘ 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 5/10 Major FEMA zone X (shaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥89°F today · 14 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: $45,017
• − Mortgage interest: −$21,224
• − Property taxes: −$5,683
• − Insurance: −$1,894
• − Repairs & maintenance: −$3,601
• − Management: −$3,601
• − HOA: −$60
• − Depreciation: −$11,022
• Taxable loss: −$2,069
• Est. tax savings @ 24.0%: +$497
• After-tax cash flow: $4,579/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.

Condition & rehab AI · 1 photo

Good 75/100 Cosmetic rehab

This beautifully maintained manufactured home in Spanish Ranch I offers spacious living with thoughtful updates and a well-maintained exterior. Minor cosmetic upgrades could further enhance its appeal.

Value-add opportunities

• Both Paint exterior trim — Enhances curb appeal and value
• Both Replace front door — Improves entryway and adds value
• Both Upgrade kitchen appliances — Modernizes kitchen and attracts buyers

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior trim — Enhances curb appeal and value ↑
• Both Replace front door — Improves entryway and adds value ↑
• Both Upgrade kitchen appliances — Modernizes kitchen and attracts buyers ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Hayward Unified
• NCES district ID: 0616740
• Math proficiency: 25% ▼ -1.00%
• Reading proficiency: 37% ▬ 0.00%
• Median HH income: $65,326
• Composite: 31.27/100
• National rank: #11241
• State rank: #935 of 1400 in CA

Livability — Hayward

• Score: 75/100
• State rank: #124
• US rank: #4294

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hayward, CA
• County: Alameda County · 1,614,355 people
• City population: 191,800
• Metro: San Francisco-Oakland-Berkeley, CA
• Population (ZIP): 76,947
• Household income: $107,785
• Rent vs Own: 43.8% rent · 56.2% own
• Severe rent burden: 2573.0

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 0.70)
• Race & ethnicity: Hispanic / Latino 45% Asian 28% Two or more races 13% White 11% Black 7% Pacific Islander 4% Native American 1%
• Hispanic origin (detail): Mexican 33% Puerto Rican 1%
• Common ancestry: Russian 1% Italian 1% Lithuanian 1%
• Foreign-born: 46% · Canada, China, Vietnam
• Languages at home: 34% English-only · Spanish 37% Tagalog/Filipino 8% Other Indo-European 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: ▼ -907.12%
• Current HPI: 315.6082
• Rent YoY: ▲ 2.58%
• 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

Price history

+0.0% since first listed

2 events — show timeline

• 2026-05-22 Listed $378,888 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-05-22 Listed $378,888 MLSListings