6525 Sunrise Blvd #73

Citrus Heights, CA 95610

$34,000D+

2 bd · 1.0 ba · 672 sqft · Built 1974 · Manufactured · Active · 70 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,825/mo
• Mortgage (P&I): −$178
• Tax + insurance: −$23
• HOA: −$925
• Vac / Maint / Mgmt: −$383
• Net cashflow: $316/mo
• Annual: $3,787/yr
• Cap rate: 17.43%
• Cash-on-cash: 39.78%
• DSCR: 2.77
• 1% rule: 5.37%
• Cash to close: $9,520

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $34k.
• At list price, monthly cash flow is $316 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $34k).
• It's been on market 70 days — a 6% lower offer ($32k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $32k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $235 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 60/100 on livability (#614 in CA) — a middle-class / working-renter tenant base. Strengths: housing A+; Watch: schools D, crime D-, amenities F.
• San Juan Unified (suburban): math 40% / reading 62% proficiency, ranked #138 of 517 in CA (top 27%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: HOA is 51% of rent.
• Market conditions: Rents rising fast (+4.1%/yr); 159 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 6,825 units permitted in Sacramento County in 2024 (1,752 in 5+ unit buildings).
• Sacramento County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 4.1% rent growth), your $10k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 17.4% vs local median 3.4% in Citrus Heights — 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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.
• 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?
• Crime grade is D 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?
• 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?