840 Bourn Dr #7 · Woodland, CA 95776

$40,000

2 bd · 2.0 ba · 1,000 sqft · Manufactured · 17 Days on market

Built 1965 $40/sqft · 69% below area

---

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
• Schools +4.0/10.0
• Rent growth +3.9/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

840 Bourn Dr. , Space 7 Royal Palm Mobile Home Park Woodland, CA 95776 Investor or owner-occupant opportunity in the established Royal Palm Mobile Home Park. This double-wide is being sold as-is and is priced to reflect its current condition ideal for a buyer looking to remove and replace with a newer manufactured home. Done right, this path can deliver an updated residence at a fraction of the cost of purchasing a move-in-ready space within the park. Community amenities include a pool and on-site management. Space rent is $580/mo and to be verified by buyer. Bring your contractor and your vision.

Key facts

• Community amenities
• Pool
• On-site management

Tags

• COMMUNITY AMENITIES
• ON-SITE MANAGEMENT
• POOL

🏷️ Possibly a rental listed for sale. The $40,000 price doesn't fit this home's estimated sale value (~$128,077) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $40k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Recommended offer: $39k (1.5% below list) — sets the bar for market timing.
• Cap rate 56.1% vs local median 3.4% in Woodland — 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 67/100 on livability (#314 in CA) — a middle-class / working-renter tenant base. Strengths: employment A, housing A; Watch: amenities C-, cost of living F.
• Woodland Joint Unified (suburban): math 34% / reading 58% proficiency, ranked #171 of 517 in CA (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ramon S. Tafoya Elementary (784 students, 76% FRL); Douglass Middle (808 students, 76% FRL); Pioneer High (math 40% / reading 62%, grade D+, #319 of 1,170 statewide, top 28%, 1,635 students, 71% FRL) — zoned schools average 74% FRL vs 54% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.4%/yr); 99 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 721 units permitted in Yolo County in 2024 (260 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $277 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Yolo County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 5.4% rent growth), your $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($39k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $39,400 (1.5% below list)

Questions for the listing agent

1. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 6.13% ✓
• Cap rate: 56.11%
• Cash-on-cash: 177.92%
• DSCR: 8.92
• GRM: 1.4

CMA / ARV

• ARV (median comp): $128,077
• List price: $40,000
• Delta: -68.77%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
840 Bourn Dr #7	0.00mi	2/2.0	1,000 (0%)	0mo	$54,000	$54	100
840 Bourn Dr	0.00mi	3/2.0 (+1)	1,080 (+8%)	14mo	$199,000	$184	70

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 · 5.4% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 10.03×
• Total profit: $101,189
• Equity at exit: $5,964

10-year hold

• IRR: —
• Equity multiple: 22.90×
• Total profit: $245,298
• Equity at exit: $3,458

Cash invested: $11,200 (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 95776

• Home prices YoY: -30.2%
• Rents YoY: 5.4%
• Active inventory: 99
• Price-to-rent: 1.4×

Monthly cashflow live

• Estimated rent: $2,452 high
• Mortgage (P&I): −$210
• Tax est. 1.5%: −$50 /mo · $600/yr
• Insurance: −$17
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$515
• Net cashflow: $1,594

Break-even live

Break-even rent $434

Max offer price $40,000

Occupancy floor 30%

Sensitivity live

Price	-10% $1,622	-5% $1,608	+0% $1,594	+5% $1,580	+10% $1,566
Rent	-10% $1,400	-5% $1,497	+0% $1,594	+5% $1,691	+10% $1,788
Rate	-1.0pp $1,614	-0.5pp $1,604	base $1,594	+0.5pp $1,584	+1.0pp $1,573

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1080 Barnes Cir Woodland, CA	3.0	2.0	1242	$2,700	$2.17	6d	1	0.47mi
575 Matmor Rd Woodland, CA	1.0–2.0	1.0–2.0	840	$2,151	$2.56	0d	6	0.51mi
1180 Matmor Rd Woodland, CA	2.0	1.0–2.0	893	$1,850	$2.07	4d	3	0.55mi
1455 Hoover Ct Woodland, CA	3.0	2.0	1100	$2,700	$2.45	19d	1	0.65mi
547 Johnston St Woodland, CA	2.0	1.0	750	$1,950	$2.60	25d	1	0.79mi
1975 Maxwell Ave Woodland, CA	1.0–2.0	1.0–2.0	924	$2,322	$2.51	0d	6	1.03mi
1737 6th St Woodland, CA	1.0–2.0	1.0	675	$2,034	$3.01	5d	8	1.26mi
135 3rd St Woodland, CA	1.0	1.0	726	$1,600	$2.20	13d	1	1.43mi

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥104°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 28 unhealthy d/yr today · 29 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,423
• − Mortgage interest: −$2,241
• − Property taxes: −$600
• − Insurance: −$998
• − Repairs & maintenance: −$2,354
• − Management: −$2,354
• − Depreciation: −$1,164
• Taxable income: $19,713
• Est. tax owed @ 24.0%: −$4,731
• After-tax cash flow: $14,398/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: Woodland Joint Unified
• NCES district ID: 0643080
• Math proficiency: 34% ▲ 6.00%
• Reading proficiency: 58% ▲ 15.00%
• Median HH income: $57,556
• Composite: 40.1/100
• National rank: #3803
• State rank: #171 of 517 in CA

Livability — Woodland

• Score: 67/100
• State rank: #314
• US rank: #10682

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Woodland, CA
• County: Yolo County · 212,115 people
• City population: 66,420
• Metro: Sacramento-Roseville-Folsom, CA
• Population (ZIP): 28,718
• Household income: $106,698
• Rent vs Own: 31.9% rent · 68.1% own
• Severe rent burden: 654.0

Population outlook (Yolo County) Hauer SSP2

• Today (2025): 242,183 people
• By 2030: 257,662 · +6.4%
• By 2040: 288,050 · +18.9%
• By 2050: 318,202 · +31.4%
• By 2075: 392,736 · +62.2%
• By 2100: 438,150 · +80.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: Hispanic / Latino 46% White 32% Two or more races 20% Asian 13% Black 2%
• Hispanic origin (detail): Mexican 43%
• Common ancestry: Italian 3% Scotch-Irish 2% Lithuanian 1%
• Foreign-born: 25% · Canada, China, South Korea
• Languages at home: 57% English-only · Spanish 31% Other Indo-European 7% Chinese 2%

Political lean MEDSL · Yolo

• 2024 margin: Solid D (+36.2) · D 66.3% · R 30.1% · Other 3.6%
• 2008→2024 swing: 0.0pp no change · 2008: 36.2pp · 2024: 36.2pp
• All cycles: 2024: D+36.2 2020: D+41.4 2016: D+42.0 2012: D+33.2 2008: D+36.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -119.41%
• Current HPI: 276.202
• Rent YoY: ▲ 5.40%
• Metro: Sacramento-Roseville-Folsom, 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