1111 Morse Ave #227 · Sunnyvale, CA 94089

$379,000

2 bd · 2.0 ba · 1,352 sqft · Manufactured · 69 Days on market

Built 2022

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Why this score? — see what drove the B- 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 +25.4/30.0
• DSCR +8.4/10.0
• Schools +8.3/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Livability +4.1/5.0
• Appreciation +3.2/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to this beautifully updated, move-in ready manufactured home nestled in a quiet and welcoming Willow Ranch 55+ senior community. This well-maintained 2-bedroom, 2-bath home features a spacious living room that fill the space with natural light, along with newer appliances and thoughtful upgrades throughout. Situated on a desirable large lot, the property includes an expansive driveway that accommodates 4+ vehicles- one of the few homes in the community offering such generous parking, along with a private gated backyard which is perfect for relaxing with family and pets. The open-concept eat-in kitchen is designed for both function and style, complete with a beautiful center island. The bright and airy floor plan offers a separate living area and a cozy dining space, enhanced by modern upgrades including dual-pane windows, laminate flooring, recessed lighting, and updated bathrooms. The kitchen comes fully equipped with all appliances, making this home truly turnkey. Step outside to your private backyard oasis and enjoy the convenience of nearby guest parking. Shopping centers and a variety of dining options are just a short drive away.

Key facts

• 2 garage spots
• Built 2022
• Listed 69 days

Property features AI

Finance

• HOA & community: Community pool; Clubhouse; Barbecue area; Billiard room; Sauna/spa/hot tub; Organized activities

Exterior

• Parking: 2-car garage (tandem); Guest/visitor parking; Assigned space #227 (space rent applies)
• Utilities: Public water; Public sewer; Public utilities
• Home design: Senior community (55+); Pets allowed with restrictions; Board approval required
• Construction: Assessor-provided lot size source
• Exterior features: Shingle roof; Unit will remain in park

Interior

• Kitchen: Dishwasher; Exhaust fan; Garbage disposal; Gas hookups; Ice maker; Microwave; Oven/range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central forced air heating; Ceiling fan
• Interior features: Kitchen/family room combo; Breakfast bar and dining area; Dining area in living room; Walk-in closet; High ceilings; Clean Air Certified fireplace; Laundry hookups; Storage
• Laundry & utility: Washer/dryer hookups (laundry room)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $379k.

Deal economics

• At list price, monthly cash flow is $442 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $379k).
• Recommended offer: $356k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 1.2% in Sunnyvale — 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 82/100 on livability (#37 in CA, #1,258 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living F.
• Fremont Union High (urban): math 87% / reading 91% proficiency, ranked #6 of 517 in CA (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: Rents rising (+2.6%/yr); 69 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 3,838 units permitted in Santa Clara County in 2024 (1,886 in 5+ unit buildings).
• This rent runs 33% of the median local income ($158k/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.
• 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 69 days — a 6% lower offer ($356k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 26y 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.
• Current owner paid $45k; list at $379k implies a 742% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $356,260 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.16% ✓
• Cap rate: 9.04%
• Cash-on-cash: 9.82%
• DSCR: 1.44
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $243,360
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1111 Morse Ave #36	0.00mi	2/2.0	1,438 (+6%)	7mo	$199,999	$139	83
1111 Morse Ave #29	0.13mi	2/2.0	1,440 (+6%)	6mo	$230,000	$160	78
1111 Morse Ave Spc 17	0.14mi	2/2.0	1,440 (+6%)	6mo	$240,000	$167	77
600 E Weddell #59	0.33mi	3/2.0 (+1)	1,344 (-1%)	8mo	$345,000	$257	72
600 E Weddell Dr #192	0.33mi	3/2.0 (+1)	1,248 (-8%)	2mo	$300,000	$240	65
600 E Weddell Dr #9	0.35mi	3/2.0 (+1)	1,269 (-6%)	6mo	$228,000	$180	64
600 E Weddell Dr #184	0.33mi	3/2.0 (+1)	1,227 (-9%)	3mo	$280,000	$228	62
1111 Morse Ave #74	0.14mi	3/2.0 (+1)	1,540 (+14%)	4mo	$340,000	$221	62
690 Persian Dr #61	0.53mi	2/2.0	1,464 (+8%)	2mo	$229,500	$157	60
690 Persian Dr #4	0.52mi	2/2.0	1,440 (+6%)	7mo	$229,900	$160	59
1085 Tasman Dr #862	0.56mi	2/2.0	1,464 (+8%)	7mo	$239,000	$163	54
600 E Weddell Dr #126	0.35mi	3/2.0 (+1)	1,500 (+11%)	8mo	$349,000	$233	54

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 · 2.63% rent growth · sell at horizon

5-year hold

• IRR: -8.9%
• Equity multiple: 0.67×
• Total profit: $-34,584
• Equity at exit: $56,510

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $785
• Equity at exit: $32,769

Cash invested: $106,120 (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 94089

• Home prices YoY: -1.1%
• Rents YoY: 2.6%
• Active inventory: 69
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $4,415 high
• Mortgage (P&I): −$1,988
• Tax est. 1.5%: −$474 /mo · $5,685/yr
• Insurance: −$158
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$927
• Net cashflow: $442

Break-even live

Break-even rent $3,855

Max offer price $379,000

Occupancy floor 85%

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: $94,750
• Closing costs: $11,370
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1063 Morse Ave Sunnyvale, CA	1.0–2.0	1.0–2.0	844	$5,014	$5.94	1d	14	0.12mi
550 E Weddell Dr Sunnyvale, CA	1.0–3.0	1.0–2.0	1255	$4,986	$3.97	1d	8	0.32mi
621 Tasman Dr Sunnyvale, CA	1.0–2.0	1.0–2.0	959	$4,557	$4.75	1d	9	0.40mi
1220 N Fair Oaks Ave Sunnyvale, CA	1.0–2.0	1.0–2.0	887	$4,780	$5.39	1d	4	0.44mi
785 N Fair Oaks Ave #8 Sunnyvale, CA	2.0	1.0	926	$3,300	$3.56	10d	1	0.59mi
781 N Fair Oaks Ave #6 Sunnyvale, CA	3.0	2.0	1134	$3,795	$3.35	16d	1	0.59mi
676 Johanna Ave Unit 2 Sunnyvale, CA	2.0	1.0	892	$2,650	$2.97	1d	1	0.81mi
1271 Lawrence Station Rd Sunnyvale, CA	1.0–2.0	1.0–2.5	1417	$5,197	$3.67	1d	7	1.15mi
725 San Simeon St #1617 Sunnyvale, CA	3.0	2.0	1008	$5,400	$5.36	1d	1	1.17mi
450 N Mathilda Ave Sunnyvale, CA	1.0–2.0	1.0–2.0	810	$4,217	$5.21	1d	4	1.30mi
1030 Indian Wells Ave Sunnyvale, CA	1.0–2.0	1.0–2.0	1039	$6,915	$6.66	1d	1	1.41mi

Listing history 28 events

1. 2026-06-18
   pricedays on market $379,000 Active 69 DOM
2. 2026-06-17
   days on market $389,000 Active 68 DOM
3. 2026-06-16
   days on market $389,000 Active 67 DOM
4. 2026-06-15
   days on market $389,000 Active 66 DOM
5. 2026-06-13
   days on market $389,000 Active 64 DOM
6. 2026-06-09
   days on market $389,000 Active 60 DOM
7. 2026-06-08
   days on market $389,000 Active 59 DOM
8. 2026-06-07
   days on market $389,000 Active 58 DOM
9. 2026-06-05
   days on market $389,000 Active 55 DOM
10. 2026-06-03
    days on market $389,000 Active 54 DOM
11. 2026-06-02
    days on market $389,000 Active 53 DOM
12. 2026-06-01
    days on market $389,000 Active 52 DOM
13. 2026-05-31
    days on market $389,000 Active 51 DOM
14. 2026-04-10
    listed $389,000 Active 1161-char remark

    Show marketing remark (1161 chars)

    Welcome to this beautifully updated, move-in ready manufactured home nestled in a quiet and welcoming Willow Ranch 55+ senior community. This well-maintained 2-bedroom, 2-bath home features a spacious living room that fill the space with natural light, along with newer appliances and thoughtful upgrades throughout. Situated on a desirable large lot, the property includes an expansive driveway that accommodates 4+ vehicles- one of the few homes in the community offering such generous parking, along with a private gated backyard which is perfect for relaxing with family and pets. The open-concept eat-in kitchen is designed for both function and style, complete with a beautiful center island. The bright and airy floor plan offers a separate living area and a cozy dining space, enhanced by modern upgrades including dual-pane windows, laminate flooring, recessed lighting, and updated bathrooms. The kitchen comes fully equipped with all appliances, making this home truly turnkey. Step outside to your private backyard oasis and enjoy the convenience of nearby guest parking. Shopping centers and a variety of dining options are just a short drive away.

15. 2026-04-10
    listed $389,000 Active 1161-char remark

    Show marketing remark (1161 chars)

    Welcome to this beautifully updated, move-in ready manufactured home nestled in a quiet and welcoming Willow Ranch 55+ senior community. This well-maintained 2-bedroom, 2-bath home features a spacious living room that fill the space with natural light, along with newer appliances and thoughtful upgrades throughout. Situated on a desirable large lot, the property includes an expansive driveway that accommodates 4+ vehicles- one of the few homes in the community offering such generous parking, along with a private gated backyard which is perfect for relaxing with family and pets. The open-concept eat-in kitchen is designed for both function and style, complete with a beautiful center island. The bright and airy floor plan offers a separate living area and a cozy dining space, enhanced by modern upgrades including dual-pane windows, laminate flooring, recessed lighting, and updated bathrooms. The kitchen comes fully equipped with all appliances, making this home truly turnkey. Step outside to your private backyard oasis and enjoy the convenience of nearby guest parking. Shopping centers and a variety of dining options are just a short drive away.

16. 2012-12-04
    soldstatus $45,000 Sold 186-char remark

    Show marketing remark (186 chars)

    2 Bedroom 2 Bath with large living room, skylights, newer appliances, large corner lot, enclosed screen room. parking for 4 + cars. Large beautiful landscaped lot. Automated drip system.

17. 2012-10-25
    status Pending (Do Not Show) 186-char remark

    Show marketing remark (186 chars)

    2 Bedroom 2 Bath with large living room, skylights, newer appliances, large corner lot, enclosed screen room. parking for 4 + cars. Large beautiful landscaped lot. Automated drip system.

18. 2012-10-17
    status Pending Without Release 186-char remark

    Show marketing remark (186 chars)

    2 Bedroom 2 Bath with large living room, skylights, newer appliances, large corner lot, enclosed screen room. parking for 4 + cars. Large beautiful landscaped lot. Automated drip system.

19. 2012-10-09
    listed $49,900 Active 186-char remark

    Show marketing remark (186 chars)

    2 Bedroom 2 Bath with large living room, skylights, newer appliances, large corner lot, enclosed screen room. parking for 4 + cars. Large beautiful landscaped lot. Automated drip system.

20. 2008-02-29
    soldstatus $34,000
21. 2008-02-05
    historical
22. 2008-01-15
    listed $40,000
23. 2004-03-31
    historical
24. 2004-03-13
    soldstatus $29,000
25. 2003-11-19
    listed $32,000
26. 2000-03-30
    historical
27. 2000-03-09
    soldstatus $65,000
28. 2000-01-20
    listed $65,000

ⓘ 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 1/10 Low FEMA zone AE · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥90°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 13 unhealthy d/yr today · 13 by 30 yrs out

Taxation est. · year 1

• Rental income: $52,975
• − Mortgage interest: −$21,230
• − Property taxes: −$5,685
• − Insurance: −$7,014
• − Repairs & maintenance: −$4,238
• − Management: −$4,238
• − Depreciation: −$11,025
• Taxable loss: −$455
• Est. tax savings @ 24.0%: +$109
• After-tax cash flow: $5,411/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: Fremont Union High
• NCES district ID: 0614430
• Math proficiency: 87% ▲ 9.00%
• Reading proficiency: 91% ▲ 10.00%
• Median HH income: $128,947
• Composite: 82.66/100
• National rank: #20
• State rank: #6 of 517 in CA

Livability — Sunnyvale

• Score: 82/100
• State rank: #37
• US rank: #1258

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sunnyvale, CA
• County: Santa Clara County · 1,806,974 people
• City population: 154,236
• Metro: San Jose-Sunnyvale-Santa Clara, CA
• Population (ZIP): 22,699
• Household income: $158,304
• Rent vs Own: 47.1% rent · 52.9% own
• Severe rent burden: 558.0

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: Asian 45% White 24% Hispanic / Latino 24% Two or more races 9% Black 2%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Scotch-Irish 2% Lithuanian 1% Estonian 1%
• Foreign-born: 51% · Canada, China, Vietnam
• Languages at home: 40% English-only · Spanish 18% Chinese 12% Other Asian/Pacific 8%

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: ▼ -3.70%
• Current HPI: 338.6935
• Rent YoY: ▲ 2.63%
• 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

+498.5% since first listed

15 events — show timeline

• 2026-04-10 Listed $389,000 MLSListings
• 2026-04-10 Listed $389,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2012-12-04 Sold (MLS) $45,000 MLSListings
• 2012-10-25 Pending — MLSListings
• 2012-10-17 Pending — MLSListings
• 2012-10-09 Listed $49,900 MLSListings
• 2008-02-29 Sold (MLS) $34,000 MLSListings
• 2008-02-05 Listing Removed — MLSListings
• 2008-01-15 Listed $40,000 MLSListings
• 2004-03-31 Listing Removed — MLSListings
• 2004-03-13 Sold (MLS) $29,000 MLSListings
• 2003-11-19 Listed $32,000 MLSListings
• 2000-03-30 Listing Removed — MLSListings
• 2000-03-09 Sold (MLS) $65,000 MLSListings
• 2000-01-20 Listed $65,000 MLSListings