900 Golden Wheel Park Dr #121 · San Jose, CA 95112

$250,000

2 bd · 1.0 ba · 560 sqft · Manufactured · 186 Days on market

Built 1966 $446/sqft · 10% above area Est $227k · 10% 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 +24.8/30.0
• DSCR +8.0/10.0
• 1% rule +6.4/10.0
• Schools +5.5/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• ARV discount +2.9/15.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in Golden Wheel Mobile Home Park, this home offers 2 beds, 1 bath, plus a bonus room and an additional bath (permit status unknown). Updated approx. 2021 with bathroom upgrades and exterior paint. Seller to include furniture, 2 TVs, newer refrigerator, microwave, washer & dryer. Low space rent approx. $876/month. Carport fits 3-4 cars. Community amenities include a pool and clubhouse. Convenient San Jose location.

Key facts

• Exterior paint
• Clubhouse
• Bathroom upgrades

Tags

• BONUS ROOM
• BATHROOM UPGRADES
• EXTERIOR PAINT
• COMMUNITY AMENITIES
• POOL
• CLUBHOUSE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $250k.

Deal economics

• At list price, monthly cash flow is $408 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $220k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 1.6% in San Jose — 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 78/100 on livability (#68 in CA, #2,559 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: crime F, cost of living F.
• Orchard Elementary (urban): math 51% / reading 60% proficiency, ranked #225 of 1,400 in CA (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.2%/yr); 106 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 3,838 units permitted in Santa Clara County in 2024 (1,886 in 5+ unit buildings).
• This rent runs 38% of the median local income ($89k/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 $8k of value loss. Plan a longer hold.
• Santa Clara County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 186 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y ago; this cycle's ask has dropped $30k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $150k; list at $250k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $122/mo.
• Climate carrying-cost: in FEMA flood zone AO (mandatory federal flood insurance); extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $220,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 186 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 1966 — 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 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?
7. 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.
8. 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.
9. 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: 1.14% ✓
• Cap rate: 8.84%
• Cash-on-cash: 9.08%
• DSCR: 1.40
• GRM: 7.3

CMA / ARV

• ARV (median comp): $226,598
• List price: $250,000
• Delta: 10.33%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
900 Golden Wheel Park Dr #104	0.15mi	2/1.0	500 (-11%)	16mo	$200,000	$400	62
900 Golden Wheel Park Dr #32	0.00mi	1/1.0 (-1)	624 (+11%)	20mo	$199,000	$319	59

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 · 4.25% rent growth · sell at horizon

5-year hold

• IRR: -4.1%
• Equity multiple: 0.85×
• Total profit: $-10,793
• Equity at exit: $37,276

10-year hold

• IRR: 7.1%
• Equity multiple: 1.57×
• Total profit: $39,829
• Equity at exit: $21,615

Cash invested: $70,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City San Jose: 0 Strongly Tenant-Friendly · D+24

Apartment Rent Ordinance covers pre-1979 multifamily.

Methodology + full state rankings →

ZIP-level market 95112

• Rents YoY: 4.2%
• Active inventory: 106
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,858 high
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,750/yr
• Insurance: −$104
• Flood insurance flood zone: −$122 /mo · $1,468/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$600
• Net cashflow: $408

Break-even live

Break-even rent $2,342

Max offer price $250,000

Occupancy floor 81%

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1331 Lakeshore Cir San Jose, CA	1.0–3.0	1.0–3.0	1017	$3,932	$3.86	1d	28	0.66mi
1543 Ambergrove Dr San Jose, CA	1.0	1.0	652	$2,700	$4.14	1d	2	0.74mi
1501 Berryessa Rd San Jose, CA	2.0	1.0–2.0	966	$4,734	$4.90	1d	31	0.78mi
1416 Rue Avati Unit 3 San Jose, CA	1.0	1.0	420	$2,033	$4.84	1d	1	0.92mi
925 N Bayshore Rd W San Jose, CA	1.0	1.0	437	$1,625	$3.72	12d	1	0.94mi
925 N Bayshore Rd W Unit 925-07 San Jose, CA	1.0	1.0	437	$1,625	$3.72	10d	1	0.94mi
925 N Bayshore Rd W San Jose, CA	1.0	1.0	437	$1,850	$4.23	44d	1	0.94mi
1700 N 1st St San Jose, CA	1.0–2.0	1.0–2.0	941	$3,667	$3.90	1d	8	1.20mi
750 N 23rd St San Jose, CA	1.0–3.0	1.0	875	$2,799	$3.20	12d	1	1.23mi
60 E Rosemary St San Jose, CA	1.0	1.0	606	$2,202	$3.63	43d	1	1.27mi
817 N 10th St San Jose, CA	2.0	1.0–2.0	851	$3,749	$4.40	1d	10	1.30mi
263 E Hedding St #1535 San Jose, CA	1.0–4.0	1.0–3.5	1629	$3,640	$2.23	2d	2	1.33mi
30 E Rosemary St San Jose, CA	1.0	1.0	533	$2,026	$3.80	43d	1	1.33mi
1729 N 1st St San Jose, CA	1.0–2.0	1.0–2.0	887	$4,707	$5.31	1d	12	1.36mi
415 E Taylor St San Jose, CA	2.0	1.0–2.0	900	$4,595	$5.11	1d	11	1.40mi
630 N 16th St San Jose, CA	1.0	1.0	600	$1,995	$3.33	3d	1	1.46mi

Listing history 22 events

1. 2026-06-18
   days on market $250,000 Active 186 DOM
2. 2026-06-17
   days on market $250,000 Active 185 DOM
3. 2026-06-16
   days on market $250,000 Active 184 DOM
4. 2026-06-15
   days on market $250,000 Active 183 DOM
5. 2026-06-13
   days on market $250,000 Active 181 DOM
6. 2026-06-13
   remarks 444-char remark
7. 2026-06-13
   days on market $250,000 Active 180 DOM
8. 2026-06-09
   days on market $250,000 Active 177 DOM
9. 2026-06-08
   days on market $250,000 Active 176 DOM
10. 2026-06-07
    pricedays on market $250,000 Active 175 DOM
11. 2026-06-05
    days on market $280,000 Active 172 DOM
12. 2026-06-03
    days on market $280,000 Active 171 DOM
13. 2026-06-02
    days on market $280,000 Active 170 DOM
14. 2026-06-01
    days on market $280,000 Active 169 DOM
15. 2026-05-31
    days on market $280,000 Active 168 DOM
16. 2025-12-14
    listed $280,000 Active 429-char remark

    Show marketing remark (429 chars)

    Located in Golden Wheel Mobile Home Park, this home offers 2 beds, 1 bath, plus a bonus room and an additional bath (permit status unknown). Updated approx. 2021 with bathroom upgrades and exterior paint. Seller to include furniture, 2 TVs, newer refrigerator, microwave, washer & dryer. Low space rent approx. $876/month. Carport fits 3-4 cars. Community amenities include a pool and clubhouse. Convenient San Jose location.

17. 2025-12-14
    listed $280,000 Active 429-char remark

    Show marketing remark (429 chars)

    Located in Golden Wheel Mobile Home Park, this home offers 2 beds, 1 bath, plus a bonus room and an additional bath (permit status unknown). Updated approx. 2021 with bathroom upgrades and exterior paint. Seller to include furniture, 2 TVs, newer refrigerator, microwave, washer & dryer. Low space rent approx. $876/month. Carport fits 3-4 cars. Community amenities include a pool and clubhouse. Convenient San Jose location.

18. 2018-05-15
    soldstatus $150,000 Sold 432-char remark

    Show marketing remark (432 chars)

    Low Space Rent of $707. Home is 560 sq ft, has 2 bed/1bath originally. Previous owner added another section for living room, utility room, and extra bedroom with seperate entrance (permits unknown). Home has been remodeled with new exterior paint, new interior paint, new laminate flooring, new front door, new patio steps in the back. MUST SEE!!! 1966 Detroit - Serial #S2474. * Information deemed reliable, but not quaranteed. *

19. 2018-03-21
    historical Contingent 432-char remark

    Show marketing remark (432 chars)

    Low Space Rent of $707. Home is 560 sq ft, has 2 bed/1bath originally. Previous owner added another section for living room, utility room, and extra bedroom with seperate entrance (permits unknown). Home has been remodeled with new exterior paint, new interior paint, new laminate flooring, new front door, new patio steps in the back. MUST SEE!!! 1966 Detroit - Serial #S2474. * Information deemed reliable, but not quaranteed. *

20. 2018-03-13
    status Active 432-char remark

    Show marketing remark (432 chars)

    Low Space Rent of $707. Home is 560 sq ft, has 2 bed/1bath originally. Previous owner added another section for living room, utility room, and extra bedroom with seperate entrance (permits unknown). Home has been remodeled with new exterior paint, new interior paint, new laminate flooring, new front door, new patio steps in the back. MUST SEE!!! 1966 Detroit - Serial #S2474. * Information deemed reliable, but not quaranteed. *

21. 2018-03-07
    historical Contingent 432-char remark

    Show marketing remark (432 chars)

    Low Space Rent of $707. Home is 560 sq ft, has 2 bed/1bath originally. Previous owner added another section for living room, utility room, and extra bedroom with seperate entrance (permits unknown). Home has been remodeled with new exterior paint, new interior paint, new laminate flooring, new front door, new patio steps in the back. MUST SEE!!! 1966 Detroit - Serial #S2474. * Information deemed reliable, but not quaranteed. *

22. 2018-02-22
    listed $155,888 Active 432-char remark

    Show marketing remark (432 chars)

    Low Space Rent of $707. Home is 560 sq ft, has 2 bed/1bath originally. Previous owner added another section for living room, utility room, and extra bedroom with seperate entrance (permits unknown). Home has been remodeled with new exterior paint, new interior paint, new laminate flooring, new front door, new patio steps in the back. MUST SEE!!! 1966 Detroit - Serial #S2474. * Information deemed reliable, but not quaranteed. *

ⓘ 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 9/10 Extreme FEMA zone AO · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥93°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 14 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,293
• − Mortgage interest: −$14,004
• − Property taxes: −$3,750
• − Insurance: −$2,718
• − Repairs & maintenance: −$2,743
• − Management: −$2,743
• − Depreciation: −$7,273
• Taxable income: $1,062
• Est. tax owed @ 24.0%: −$255
• After-tax cash flow: $4,637/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: Orchard Elementary
• NCES district ID: 0628680
• Math proficiency: 51% ▲ 1.00%
• Reading proficiency: 60% ▲ 5.00%
• Median HH income: $108,165
• Composite: 54.67/100
• National rank: #2853
• State rank: #225 of 1400 in CA

Livability — San Jose

• Score: 78/100
• State rank: #68
• US rank: #2559

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: San Jose, CA
• County: Santa Clara County · 1,806,974 people
• City population: 954,479
• Metro: San Jose-Sunnyvale-Santa Clara, CA
• Population (ZIP): 57,373
• Household income: $89,103
• Rent vs Own: 73.6% rent · 26.4% own
• Severe rent burden: 4364.0

Population outlook (Santa Clara County) Hauer SSP2

• Today (2025): 2,179,074 people
• By 2030: 2,301,297 · +5.6%
• By 2040: 2,528,195 · +16.0%
• By 2050: 2,712,135 · +24.5%
• By 2075: 2,998,701 · +37.6%
• By 2100: 2,931,429 · +34.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: Hispanic / Latino 41% Asian 27% White 22% Two or more races 18% Black 5% Native American 2%
• Hispanic origin (detail): Mexican 33%
• Common ancestry: Slovak 1% Lithuanian 1% Scotch-Irish 1%
• Foreign-born: 34% · Canada, Vietnam, China
• Languages at home: 48% English-only · Spanish 29% Vietnamese 9% Chinese 6%

Political lean MEDSL · Santa Clara

• 2024 margin: Solid D (+40.0) · D 68.1% · R 28.1% · Other 3.8%
• 2008→2024 swing: -0.9pp no change · 2008: 40.9pp · 2024: 40.0pp
• All cycles: 2024: D+40.0 2020: D+47.4 2016: D+52.5 2012: D+42.1 2008: D+40.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1025.61%
• Current HPI: 297.1788
• Rent YoY: ▲ 4.25%
• Metro: San Jose-Sunnyvale-Santa Clara, 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

+79.6% since first listed

7 events — show timeline

• 2025-12-14 Listed $280,000 MLSListings
• 2025-12-14 Listed $280,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2018-05-15 Sold (MLS) $150,000 MLSListings
• 2018-03-21 Contingent — MLSListings
• 2018-03-13 Relisted — MLSListings
• 2018-03-07 Contingent — MLSListings
• 2018-02-22 Listed $155,888 MLSListings

Property tax history

-26.9%/yr

Latest (2011): $74 · -12.8% YoY. Source: county tax records.