1445 S Bascom Ave #130

San Jose, CA 95128

$297,999C-

2 bd · 2.0 ba · 1,392 sqft · Built 1974 · Manufactured · Active · 70 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,944/mo
• Mortgage (P&I): −$1,563
• Tax + insurance: −$497
• HOA: −$0
• Vac / Maint / Mgmt: −$618
• Net cashflow: $266/mo
• Annual: $3,196/yr
• Cap rate: 7.37%
• Cash-on-cash: 3.83%
• DSCR: 1.17
• 1% rule: 0.99%
• Cash to close: $83,440

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $298k. Condition is rated good.
• At list price, monthly cash flow is $266 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $294k (1.2% below list).
• It's been on market 70 days — a 6% lower offer ($280k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $280k (6.0% below list) — sets the bar for market timing.
• 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.
• 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.
• Campbell Union (suburban): math 51% / reading 58% proficiency, ranked #293 of 1,400 in CA (top 21%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Del Mar High (math 22% / reading 58%, grade F, #514 of 1,170 statewide, top 44%, 1,293 students, 69% FRL) — zoned schools average 69% FRL vs 35% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 40% at this address vs 54% district-wide (-14 pts) — the specific schools serving this property underperform the Campbell Union average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+2.9%/yr); 105 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 47d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 3,838 units permitted in Santa Clara County in 2024 (1,886 in 5+ unit buildings).
• Santa Clara County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts; this cycle's ask has dropped $32k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 7.4% 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.

Questions for listing agent

• It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.