765 Mesa View Dr #265 · Callender, CA 93420

$284,900

3 bd · 2.0 ba · 1,564 sqft · Manufactured public records · 58 Days on market

Built 2002 $182/sqft · 26% above area Est $227k · 26% over

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Why this score? — see what drove the C 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 +28.9/30.0
• DSCR +10.0/10.0
• 1% rule +6.9/10.0
• Schools +4.5/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover coastal living at its finest in this beautifully maintained residence located at 765 Mesa View Dr #265 in Arroyo Grande. This home boasts 3 bedrooms, 2 bathrooms, and approximately 1,564 square feet of comfortable living space. Ideally situated, the property features great ocean views and an inviting, open-concept floor plan characterized by vaulted ceilings, an abundance of natural light, and a modern, chef-inspired kitchen with sleek stone countertops. The home is highlighted by light-toned flooring, a spacious primary suite, and a clean, contemporary aesthetic throughout. Residents of this desirable community enjoy access to exceptional amenities, including a refreshing swimming pool, spa, and access to lush, expansive greenbelts perfect for outdoor relaxation. This home provides a unique blend of comfort and coastal lifestyle on the Central Coast.

Key facts

• Community pool
• Built 2002
• Listed 58 days

Tags

• OPEN-CONCEPT FLOOR PLAN
• MODERN CHEF-INSPIRED KITCHEN
• REFRESHING SWIMMING POOL
• LUSH EXPANSIVE GREENBELTS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $285k.

Deal economics

• At list price, monthly cash flow is $964 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $285k).
• Recommended offer: $276k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 52/100 on livability (#1,037 in CA) — a working-class tenant base; expect higher turnover. Strengths: crime A+, employment A+; Watch: schools D, amenities F, commute F.
• Lucia Mar Unified (town): math 42% / reading 56% proficiency, ranked #433 of 1,400 in CA (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 94 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 1,104 units permitted in San Luis Obispo County in 2024 (273 in 5+ unit buildings).
• This rent runs 37% of the median local income ($111k/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 $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• San Luis Obispo County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $80k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($276k) is reasonable based on typical stale-listing flexibility.
• 17 sale attempts since 21y ago 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: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $276,353 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. 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: 1.19% ✓
• Cap rate: 10.35%
• Cash-on-cash: 14.51%
• DSCR: 1.65
• GRM: 7.0

CMA / ARV

• ARV (median comp): $226,598
• List price: $284,900
• Delta: 25.73%
• Verdict: OVERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
765 Mesa View Dr #137	0.00mi	3/2.0	1,550 (-1%)	0mo	$290,000	$187	98
765 Mesa View Dr #270	0.00mi	3/2.0	1,576 (+1%)	1mo	$286,500	$182	98
765 Mesa View Dr #13	0.00mi	3/2.0	1,534 (-2%)	6mo	$350,000	$228	92
765 Mesa View Dr #253	0.00mi	3/2.0	1,560 (-0%)	14mo	$315,000	$202	88
765 Mesa View Dr #269	0.00mi	3/2.0	1,512 (-3%)	9mo	$179,000	$118	87
765 Mesa View Dr #280	0.00mi	3/2.0	1,512 (-3%)	10mo	$219,900	$145	86
765 Mesa View Dr #234	0.00mi	3/2.0	1,547 (-1%)	15mo	$210,000	$136	85
765 Mesa View Dr #28	0.00mi	3/2.0	1,513 (-3%)	14mo	$270,000	$178	83
765 Mesa View Dr #179	0.00mi	3/2.0	1,536 (-2%)	19mo	$150,000	$98	81
765 Mesa View Dr #138	0.00mi	2/2.0 (-1)	1,698 (+9%)	9mo	$110,000	$65	73
765 Mesa View Dr #274	0.00mi	3/2.0	1,680 (+7%)	20mo	$225,000	$134	71
765 Mesa View Dr #201	0.00mi	3/2.0	1,331 (-15%)	16mo	$225,000	$169	61

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 4.9%
• Equity multiple: 1.19×
• Total profit: $15,139
• Equity at exit: $42,480

10-year hold

• IRR: 14.3%
• Equity multiple: 2.15×
• Total profit: $91,821
• Equity at exit: $24,633

Cash invested: $79,772 (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 93420

• Active inventory: 94
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $3,384 medium
• Mortgage (P&I): −$1,494
• Tax from tax record: −$96 /mo · $1,158/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$711
• Net cashflow: $964

Break-even live

Break-even rent $2,164

Max offer price $284,900

Occupancy floor 67%

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: $71,225
• Closing costs: $8,547
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
765 Mesa View Dr #57 Arroyo Grande, CA	2.0	2.0	1440	$2,775	$1.93	44d	1	0.03mi

Listing history 50 events

1. 2026-06-18
   days on market $284,900 Active 58 DOM
2. 2026-06-17
   days on market $284,900 Active 57 DOM
3. 2026-06-16
   days on market $284,900 Active 56 DOM
4. 2026-06-15
   days on market $284,900 Active 55 DOM
5. 2026-06-14
   days on market $284,900 Active 53 DOM
6. 2026-06-13
   days on market $284,900 Active 52 DOM
7. 2026-06-10
   days on market $284,900 Active 50 DOM
8. 2026-06-09
   days on market $284,900 Active 49 DOM
9. 2026-06-08
   days on market $284,900 Active 48 DOM
10. 2026-06-07
    days on market $284,900 Active 47 DOM
11. 2026-06-03
    days on market $284,900 Active 43 DOM
12. 2026-06-02
    days on market $284,900 Active 42 DOM
13. 2026-06-01
    days on market $284,900 Active 41 DOM
14. 2026-05-31
    days on market $284,900 Active 40 DOM
15. 2026-05-30
    days on market $284,900 Active 39 DOM
16. 2026-04-21
    listed $289,900 Active 872-char remark

    Show marketing remark (872 chars)

    Discover coastal living at its finest in this beautifully maintained residence located at 765 Mesa View Dr #265 in Arroyo Grande. This home boasts 3 bedrooms, 2 bathrooms, and approximately 1,564 square feet of comfortable living space. Ideally situated, the property features great ocean views and an inviting, open-concept floor plan characterized by vaulted ceilings, an abundance of natural light, and a modern, chef-inspired kitchen with sleek stone countertops. The home is highlighted by light-toned flooring, a spacious primary suite, and a clean, contemporary aesthetic throughout. Residents of this desirable community enjoy access to exceptional amenities, including a refreshing swimming pool, spa, and access to lush, expansive greenbelts perfect for outdoor relaxation. This home provides a unique blend of comfort and coastal lifestyle on the Central Coast.

17. 2025-12-10
    historical
18. 2025-12-02
    status Active
19. 2025-11-17
    price $265,000
20. 2025-10-06
    price $272,000
21. 2025-09-15
    status Active
22. 2025-08-15
    historical Active Under Contract
23. 2025-08-05
    price $277,000
24. 2025-07-13
    price $282,000
25. 2025-06-17
    price $289,000
26. 2025-05-19
    listed $299,000 Active
27. 2024-04-20
    historical
28. 2024-04-20
    historical
29. 2024-04-04
    price $279,500
30. 2024-03-27
    price $279,500
31. 2024-03-20
    price $280,250
32. 2024-03-12
    price $280,500
33. 2024-03-01
    price $280,750
34. 2024-02-14
    price $281,000
35. 2024-02-14
    price $281,000
36. 2023-11-17
    price $282,000
37. 2023-11-17
    status Active
38. 2023-11-17
    price $282,000
39. 2023-11-07
    historical Active Under Contract
40. 2023-10-18
    price $295,000
41. 2023-10-08
    price $295,000
42. 2023-08-25
    price $303,000
43. 2023-07-25
    price $305,000
44. 2023-07-19
    price $322,500
45. 2023-05-26
    listed $325,000 Active
46. 2023-05-25
    historical
47. 2023-05-23
    listed $303,000 Active
48. 2022-02-24
    soldstatus $317,000 Closed Sale
49. 2022-02-15
    status Pending Sale
50. 2022-01-25
    historical Active Under Contract

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $1,158 · $96/mo
• Projected year-2 tax: $2,165 · $180/mo
• Expected delta: +$1,008/yr (+$84/mo · 87.1%)

ⓘ 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 6/10 Major
• 🌡 Heat 4/10 Moderate 5 d/yr ≥79°F today · 10 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 9 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,610
• − Mortgage interest: −$15,959
• − Property taxes: −$1,158
• − Insurance: −$1,424
• − Repairs & maintenance: −$3,249
• − Management: −$3,249
• − Depreciation: −$8,288
• Taxable income: $7,283
• Est. tax owed @ 24.0%: −$1,748
• After-tax cash flow: $9,823/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: Lucia Mar Unified
• NCES district ID: 0623080
• Math proficiency: 42% ▲ 3.00%
• Reading proficiency: 56% ▲ 2.00%
• Median HH income: $62,681
• Composite: 45.19/100
• National rank: #5782
• State rank: #433 of 1400 in CA

Livability — Callender

• Score: 52/100
• State rank: #1037
• US rank: #25071

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: San Luis Obispo County · 224,651 people
• Metro: San Luis Obispo-Paso Robles, CA
• Population (ZIP): 31,345
• Household income: $110,553
• Rent vs Own: 33.6% rent · 66.4% own
• Severe rent burden: 882.0

Population outlook (San Luis Obispo County) Hauer SSP2

• Today (2025): 306,977 people
• By 2030: 320,378 · +4.4%
• By 2040: 343,933 · +12.0%
• By 2050: 366,853 · +19.5%
• By 2075: 428,329 · +39.5%
• By 2100: 460,687 · +50.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Two or more races 18% Hispanic / Latino 17% Asian 3%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Italian 4% Slovak 4% Lithuanian 3%
• Foreign-born: 6% · Canada, China, South Korea
• Languages at home: 91% English-only · Spanish 5% Chinese 1% Other Asian/Pacific 1%

Political lean MEDSL · San Luis Obispo

• 2024 margin: D (+10.9) · D 53.9% · R 43.1% · Other 3.0%
• 2008→2024 swing: +5.5pp toward D · 2008: 5.4pp · 2024: 10.9pp
• All cycles: 2024: D+10.9 2020: D+13.1 2016: D+8.3 2012: D+1.0 2008: D+5.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -798.57%
• Current HPI: 348.2038
• Rent YoY: —
• Metro: San Luis Obispo-Paso Robles, 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

+71.5% since first listed

61 events — show timeline

• 2026-04-21 Listed $289,900 CRMLS
• 2025-12-10 Listing Removed — CRMLS
• 2025-12-02 Relisted — CRMLS
• 2025-11-17 Price Changed $265,000 CRMLS
• 2025-10-06 Price Changed $272,000 CRMLS
• 2025-09-15 Relisted — CRMLS
• 2025-08-15 Contingent — CRMLS
• 2025-08-05 Price Changed $277,000 CRMLS
• 2025-07-13 Price Changed $282,000 CRMLS
• 2025-06-17 Price Changed $289,000 CRMLS
• 2025-05-19 Listed $299,000 CRMLS
• 2024-04-20 Listing Removed — CRMLS
• 2024-04-20 Listing Removed — NSBCRMLS
• 2024-04-04 Price Changed $279,500 NSBCRMLS
• 2024-03-27 Price Changed $279,500 CRMLS
• 2024-03-20 Price Changed $280,250 CRMLS
• 2024-03-12 Price Changed $280,500 CRMLS
• 2024-03-01 Price Changed $280,750 CRMLS
• 2024-02-14 Price Changed $281,000 NSBCRMLS
• 2024-02-14 Price Changed $281,000 CRMLS
• 2023-11-17 Price Changed $282,000 NSBCRMLS
• 2023-11-17 Relisted — CRMLS
• 2023-11-17 Price Changed $282,000 CRMLS
• 2023-11-07 Contingent — CRMLS
• 2023-10-18 Price Changed $295,000 NSBCRMLS
• 2023-10-08 Price Changed $295,000 CRMLS
• 2023-08-25 Price Changed $303,000 CRMLS
• 2023-07-25 Price Changed $305,000 CRMLS
• 2023-07-19 Price Changed $322,500 CRMLS
• 2023-05-26 Listed $325,000 CRMLS
• 2023-05-25 Coming Soon — CRMLS
• 2023-05-23 Listed $303,000 NSBCRMLS
• 2022-02-24 Sold (MLS) $317,000 CRMLS
• 2022-02-15 Pending — CRMLS
• 2022-01-25 Contingent — CRMLS
• 2022-01-12 Listed $320,000 CRMLS
• 2020-12-01 Sold (MLS) $182,500 CRMLS
• 2020-11-17 Pending — CRMLS
• 2020-10-19 Contingent — CRMLS
• 2020-10-18 Price Changed $185,000 CRMLS
• 2020-08-17 Price Changed $192,000 CRMLS
• 2020-08-15 Relisted — CRMLS
• 2020-08-07 Contingent — CRMLS
• 2020-05-06 Relisted — CRMLS
• 2020-04-27 Listing Removed — CSMAR
• 2020-04-24 Listed $197,000 CRMLS
• 2020-04-24 Delisted — CRMLS
• 2020-04-07 Relisted — CRMLS
• 2020-04-07 Delisted — CRMLS
• 2020-03-23 Delisted — CRMLS
• 2020-03-11 Price Changed $197,000 CRMLS
• 2020-02-05 Price Changed $205,000 CRMLS
• 2020-01-06 Price Changed $213,000 CRMLS
• 2019-11-28 Delisted — CRMLS
• 2019-09-25 Listed $222,000 CRMLS
• 2019-09-25 Listed $222,000 CSMAR
• 2019-09-25 Listed — CRMLS
• 2005-06-24 Sold (MLS) $167,000 CRMLS
• 2005-06-24 Listing Removed — NSBCRMLS
• 2005-04-11 Listed $169,000 CRMLS
• 2005-04-11 Listed $169,000 NSBCRMLS

Property tax history

+3.0%/yr

Latest (2025): $1,158 · +3.5% YoY. Source: county tax records.