2465 Palermo #5 · Palermo, CA 95968

$18,000

2 bd · 1.0 ba · 480 sqft · Manufactured · 65 Days on market

Built 1966 ↓ 49% 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
• Appreciation +4.5/10.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Livability +2.4/5.0

Listing remarks MLS

Back on market at no fault of home or seller. Check out this move-in ready, affordable home in the Feather Falls Estates ALL-AGES Mobile Home Park in Palermo! This home has been updated recently with LED lighting, new floors and paint throughout, and a brand new mini split unit to keep you warm in the winter and cool on those hot summer days. There are two bedrooms, one bathroom, a yard area and a shed with washer/dryer hookups (washer, dryer and fridge included in the sale). Don’t wait, schedule your showing today.

Key facts

• Private yard area
• Storage shed
• Mini split system

Tags

• ENERGY EFFICIENT LED LIGHTING
• MINI SPLIT SYSTEM
• PRIVATE YARD AREA
• STORAGE SHED

Property features AI

Finance

• Other: Living area source: Public records
• Financial info: Land lease of $750 per month (seller-provided)
• HOA & community: Park community; Rural/foothills setting; Pets allowed

Exterior

• Parking: Located in Feather Falls Mobile Estates
• Utilities: Public sewer; District/public water
• Home design: Single-unit mobile home; Mobile home remains on site; Single-story
• Construction: Mobile home 10 ft by 48 ft; Year built per public records
• Exterior features: Yard; No pool

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Ductless cooling
• Interior features: One-level home; Entry at main level
• Laundry & utility: Outside laundry area; Washer included; Dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $18k.

Deal economics

• At list price, monthly cash flow is $614 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($929 rent vs $18k).
• Recommended offer: $17k (6.0% below list) — sets the bar for market timing.
• Cap rate 47.2% vs local median 3.8% in Palermo — 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 48/100 on livability (#1,219 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing B+; Watch: schools F, crime F, amenities F.
• Palermo Union Elementary (town): math 20% / reading 33% proficiency, ranked #1,149 of 1,400 in CA (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 10 active listings in the ZIP; 946 units permitted in Butte County in 2024 (254 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.0%/yr); year-one equity from $124 of loan paydown is wiped out by about $176 of value loss. Plan a longer hold.
• Butte County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-1.0% appreciation + 3.0% rent growth), your $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($17k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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: severe wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $16,920 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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. 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: 5.16% ✓
• Cap rate: 47.20%
• Cash-on-cash: 146.10%
• DSCR: 7.50
• GRM: 1.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.98% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.49×
• Total profit: $37,754
• Equity at exit: $4,363

10-year hold

• IRR: —
• Equity multiple: 17.81×
• Total profit: $84,729
• Equity at exit: $4,597

Cash invested: $5,040 (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 95968

• Home prices YoY: -0.4%
• Active inventory: 10
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $929 medium
• Mortgage (P&I): −$94
• Tax from tax record: −$18 /mo · $216/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$195
• Net cashflow: $614

Break-even live

Break-even rent $152

Max offer price $18,000

Occupancy floor 29%

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: $4,500
• Closing costs: $540
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-19
   days on market $18,000 Active 65 DOM
2. 2026-06-18
   days on market $18,000 Active 64 DOM
3. 2026-06-17
   days on market $18,000 Active 63 DOM
4. 2026-06-16
   days on market $18,000 Active 62 DOM
5. 2026-06-15
   days on market $18,000 Active 61 DOM
6. 2026-06-14
   days on market $18,000 Active 59 DOM
7. 2026-06-13
   days on market $18,000 Active 58 DOM
8. 2026-06-10
   days on market $18,000 Active 56 DOM
9. 2026-06-09
   days on market $18,000 Active 55 DOM
10. 2026-06-08
    days on market $18,000 Active 54 DOM
11. 2026-06-07
    days on market $18,000 Active 53 DOM
12. 2026-06-05
    days on market $18,000 Active 50 DOM
13. 2026-06-02
    days on market $18,000 Active 48 DOM
14. 2026-06-01
    days on market $18,000 Active 47 DOM
15. 2026-05-31
    days on market $18,000 Active 46 DOM
16. 2026-05-30
    days on market $18,000 Active 45 DOM
17. 2026-04-15
    listed $18,000 Active
18. 2023-08-10
    soldstatus $20,000 Closed Sale 528-char remark

    Show marketing remark (528 chars)

    Back on market at no fault of home or seller. Check out this move-in ready, affordable home in the Feather Falls Estates ALL-AGES Mobile Home Park in Palermo! This home has been updated recently with LED lighting, new floors and paint throughout, and a brand new mini split unit to keep you warm in the winter and cool on those hot summer days. There are two bedrooms, one bathroom, a yard area and a shed with washer/dryer hookups (washer, dryer and fridge included in the sale). Don’t wait, schedule your showing today.

19. 2023-07-31
    status Pending Sale 528-char remark

    Show marketing remark (528 chars)

    Back on market at no fault of home or seller. Check out this move-in ready, affordable home in the Feather Falls Estates ALL-AGES Mobile Home Park in Palermo! This home has been updated recently with LED lighting, new floors and paint throughout, and a brand new mini split unit to keep you warm in the winter and cool on those hot summer days. There are two bedrooms, one bathroom, a yard area and a shed with washer/dryer hookups (washer, dryer and fridge included in the sale). Don’t wait, schedule your showing today.

20. 2023-07-17
    status Active 528-char remark

    Show marketing remark (528 chars)

    Back on market at no fault of home or seller. Check out this move-in ready, affordable home in the Feather Falls Estates ALL-AGES Mobile Home Park in Palermo! This home has been updated recently with LED lighting, new floors and paint throughout, and a brand new mini split unit to keep you warm in the winter and cool on those hot summer days. There are two bedrooms, one bathroom, a yard area and a shed with washer/dryer hookups (washer, dryer and fridge included in the sale). Don’t wait, schedule your showing today.

21. 2023-07-10
    status Pending Sale 528-char remark

    Show marketing remark (528 chars)

    Back on market at no fault of home or seller. Check out this move-in ready, affordable home in the Feather Falls Estates ALL-AGES Mobile Home Park in Palermo! This home has been updated recently with LED lighting, new floors and paint throughout, and a brand new mini split unit to keep you warm in the winter and cool on those hot summer days. There are two bedrooms, one bathroom, a yard area and a shed with washer/dryer hookups (washer, dryer and fridge included in the sale). Don’t wait, schedule your showing today.

22. 2023-07-07
    status Active 528-char remark

    Show marketing remark (528 chars)

    Back on market at no fault of home or seller. Check out this move-in ready, affordable home in the Feather Falls Estates ALL-AGES Mobile Home Park in Palermo! This home has been updated recently with LED lighting, new floors and paint throughout, and a brand new mini split unit to keep you warm in the winter and cool on those hot summer days. There are two bedrooms, one bathroom, a yard area and a shed with washer/dryer hookups (washer, dryer and fridge included in the sale). Don’t wait, schedule your showing today.

23. 2023-07-04
    status Pending Sale 528-char remark

    Show marketing remark (528 chars)

    Back on market at no fault of home or seller. Check out this move-in ready, affordable home in the Feather Falls Estates ALL-AGES Mobile Home Park in Palermo! This home has been updated recently with LED lighting, new floors and paint throughout, and a brand new mini split unit to keep you warm in the winter and cool on those hot summer days. There are two bedrooms, one bathroom, a yard area and a shed with washer/dryer hookups (washer, dryer and fridge included in the sale). Don’t wait, schedule your showing today.

24. 2023-06-16
    price $21,900 528-char remark

    Show marketing remark (528 chars)

    Back on market at no fault of home or seller. Check out this move-in ready, affordable home in the Feather Falls Estates ALL-AGES Mobile Home Park in Palermo! This home has been updated recently with LED lighting, new floors and paint throughout, and a brand new mini split unit to keep you warm in the winter and cool on those hot summer days. There are two bedrooms, one bathroom, a yard area and a shed with washer/dryer hookups (washer, dryer and fridge included in the sale). Don’t wait, schedule your showing today.

25. 2023-05-19
    price $24,000 528-char remark

    Show marketing remark (528 chars)

    Back on market at no fault of home or seller. Check out this move-in ready, affordable home in the Feather Falls Estates ALL-AGES Mobile Home Park in Palermo! This home has been updated recently with LED lighting, new floors and paint throughout, and a brand new mini split unit to keep you warm in the winter and cool on those hot summer days. There are two bedrooms, one bathroom, a yard area and a shed with washer/dryer hookups (washer, dryer and fridge included in the sale). Don’t wait, schedule your showing today.

26. 2023-05-10
    price $29,000 528-char remark

    Show marketing remark (528 chars)

    Back on market at no fault of home or seller. Check out this move-in ready, affordable home in the Feather Falls Estates ALL-AGES Mobile Home Park in Palermo! This home has been updated recently with LED lighting, new floors and paint throughout, and a brand new mini split unit to keep you warm in the winter and cool on those hot summer days. There are two bedrooms, one bathroom, a yard area and a shed with washer/dryer hookups (washer, dryer and fridge included in the sale). Don’t wait, schedule your showing today.

27. 2023-05-01
    listed $35,000 Active 528-char remark

    Show marketing remark (528 chars)

    Back on market at no fault of home or seller. Check out this move-in ready, affordable home in the Feather Falls Estates ALL-AGES Mobile Home Park in Palermo! This home has been updated recently with LED lighting, new floors and paint throughout, and a brand new mini split unit to keep you warm in the winter and cool on those hot summer days. There are two bedrooms, one bathroom, a yard area and a shed with washer/dryer hookups (washer, dryer and fridge included in the sale). Don’t wait, schedule your showing today.

ⓘ 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: $216 · $18/mo
• Projected year-2 tax: $216 · $18/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 10/10 Extreme
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 32 unhealthy d/yr today · 37 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,142
• − Mortgage interest: −$1,008
• − Property taxes: −$216
• − Insurance: −$90
• − Repairs & maintenance: −$891
• − Management: −$891
• − Depreciation: −$524
• Taxable income: $7,521
• Est. tax owed @ 24.0%: −$1,805
• After-tax cash flow: $5,558/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: Palermo Union Elementary
• NCES district ID: 0629540
• Math proficiency: 20% ▲ 1.00%
• Reading proficiency: 33% ▬ 0.00%
• Median HH income: $39,628
• Composite: 25.26/100
• National rank: #12903
• State rank: #1149 of 1400 in CA

Livability — Palermo

• Score: 48/100
• State rank: #1219
• US rank: #26161

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palermo, CA
• City population: 1,346
• Population (ZIP): 1,346

Population outlook (Butte County) Hauer SSP2

• Today (2025): 237,527 people
• By 2030: 243,804 · +2.6%
• By 2040: 253,899 · +6.9%
• By 2050: 262,561 · +10.5%
• By 2075: 283,709 · +19.4%
• By 2100: 282,689 · +19.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 50% Hispanic / Latino 44% Two or more races 10% Native American 4% Asian 2%
• Hispanic origin (detail): Mexican 34%
• Common ancestry: Russian 4% Italian 2% Lithuanian 2%
• Foreign-born: 20% · Canada
• Languages at home: 64% English-only · Spanish 34% Other Asian/Pacific 2%

Political lean MEDSL · Butte

• 2024 margin: Toss-up / Even · D 46.8% · R 49.9% · Other 3.3%
• 2008→2024 swing: -5.5pp toward R · 2008: 2.4pp · 2024: -3.1pp
• All cycles: 2024: R+3.1 2020: D+1.7 2016: R+4.0 2012: R+3.9 2008: D+2.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.98%
• Current HPI: 249.5209
• Rent YoY: —
• Metro: —
• 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

-48.6% since first listed

11 events — show timeline

• 2026-04-15 Listed $18,000 CRMLS
• 2023-08-10 Sold (MLS) $20,000 CRMLS
• 2023-07-31 Pending — CRMLS
• 2023-07-17 Relisted — CRMLS
• 2023-07-10 Pending — CRMLS
• 2023-07-07 Relisted — CRMLS
• 2023-07-04 Pending — CRMLS
• 2023-06-16 Price Changed $21,900 CRMLS
• 2023-05-19 Price Changed $24,000 CRMLS
• 2023-05-10 Price Changed $29,000 CRMLS
• 2023-05-01 Listed $35,000 CRMLS

Property tax history

+8.6%/yr

Latest (2025): $216 · +1.4% YoY. Source: county tax records.