10035 Mills Station Rd #65 · Rancho Cordova, CA 95827

$168,000

3 bd · 2.0 ba · 1,104 sqft · Manufactured · 90 Days on market

Built 1977 Good condition 1,104 sqft lot $152/sqft · 89% above area

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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 +26.2/30.0
• DSCR +8.9/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Condition / age +4.0/5.0
• Schools +3.5/10.0
• Livability +3.4/5.0
• Rent growth +3.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Everything is NEW! This move-in ready home features new flooring throughout, an updated kitchen and bathrooms, new siding, new windows, new doors, and fresh interior and exterior paint. Enjoy a low-maintenance patio, perfect for relaxing or entertaining. A total remodel from top to bottom, ready for its new owner!

Key facts

• New siding
• New doors
• New flooring

Tags

• NEW FLOORING
• UPDATED KITCHEN
• UPDATED BATHROOMS
• NEW SIDING
• NEW WINDOWS
• NEW DOORS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $168k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $429 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $168k).
• Recommended offer: $158k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 3.0% in Rancho Cordova — 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 68/100 on livability (#268 in CA) — a middle-class / working-renter tenant base. Strengths: housing A+, employment B; Watch: schools C-, commute C-, crime D.
• Sacramento City Unified (urban): math 32% / reading 43% proficiency, ranked #804 of 1,400 in CA (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.4%/yr); 109 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Sacramento County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($158k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 6→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $157,920 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 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 1977 — 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. 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?
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: 1.20% ✓
• Cap rate: 9.36%
• Cash-on-cash: 10.95%
• DSCR: 1.49
• GRM: 7.0

CMA / ARV

• ARV (median comp): $88,669
• List price: $168,000
• Delta: 89.47%
• Verdict: OVERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10035 Mills Station Rd #26	0.12mi	2/2.0 (-1)	1,140 (+3%)	6mo	$82,000	$72	79
102 Countess Way #102	0.14mi	3/2.0	1,248 (+13%)	6mo	$127,500	$102	66
10035 Mills Sta #7	0.05mi	2/2.0 (-1)	1,200 (+9%)	14mo	$105,000	$88	66
175 Dutchess Way #175	0.20mi	3/2.0	1,152 (+4%)	23mo	$125,500	$109	64
2950 Routier #48	0.34mi	3/2.0	1,248 (+13%)	14mo	$160,000	$128	51
101 Countess Way	0.15mi	2/2.0 (-1)	1,248 (+13%)	18mo	$120,000	$96	51
2950 Routier Rd #5	0.29mi	2/1.0 (-1)	1,000 (-9%)	15mo	$80,000	$80	49

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 · 2.41% rent growth · sell at horizon

5-year hold

• IRR: -0.6%
• Equity multiple: 0.98×
• Total profit: $-1,054
• Equity at exit: $25,049

10-year hold

• IRR: 8.5%
• Equity multiple: 1.63×
• Total profit: $29,577
• Equity at exit: $14,526

Cash invested: $47,040 (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 95827

• Rents YoY: 2.4%
• Active inventory: 109
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,013 high
• Mortgage (P&I): −$881
• Tax est. 1.5%: −$210 /mo · $2,520/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $429

Break-even live

Break-even rent $1,470

Max offer price $168,000

Occupancy floor 74%

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: $42,000
• Closing costs: $5,040
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2929 Routier Rd Sacramento, CA	1.0–2.0	1.0–2.0	790	$1,995	$2.53	2d	15	0.21mi
2080 W La Loma Dr Rancho Cordova, CA	1.0–2.0	1.0	650	$1,645	$2.53	17d	3	0.44mi
2725 El Parque Cir Unit A Rancho Cordova, CA	2.0	1.0	800	$1,495	$1.87	43d	1	0.44mi
2850 La Loma Dr Rancho Cordova, CA	2.0	1.0	920	$1,800	$1.96	7d	1	0.49mi
3250 Laurelhurst Dr Rancho Cordova, CA	1.0–2.0	1.0–2.0	1015	$2,275	$2.24	1d	6	0.50mi
3329 Routier Rd Unit 3329 Sacramento, CA	2.0	1.0	979	$2,000	$2.04	43d	1	0.50mi
10169 Crawford Way Sacramento, CA	2.0	1.0	917	$2,150	$2.34	23d	1	0.52mi
2625 El Parque Cir Unit D Rancho Cordova, CA	2.0	1.0	880	$1,800	$2.05	43d	1	0.54mi
10181 De Soto Way Unit 10181 Sacramento, CA	2.0	1.0	917	$1,950	$2.13	3d	1	0.56mi
3226 Laurelhurst Dr Rancho Cordova, CA	3.0	2.0	1008	$1,900	$1.88	23d	1	0.56mi
2961 Portsmouth Dr Unit 4 Rancho Cordova, CA	2.0	1.5	900	$1,650	$1.83	12d	1	0.58mi
10281 Mills Station Rd Unit 12 Rancho Cordova, CA	3.0	2.0	1100	$2,200	$2.00	4d	1	0.58mi
10108 Malaga Way Rancho Cordova, CA	2.0	1.0	765	$1,776	$2.32	7d	1	0.59mi
10158 De Soto Way Sacramento, CA	2.0	1.0	900	$2,000	$2.22	16d	1	0.60mi
10401 Rockingham Dr Rancho Cordova, CA	1.0–2.0	1.0	714	$1,450	$2.03	7d	6	0.61mi
10136 Ellenwood Ave Sacramento, CA	3.0	2.5	1418	$2,375	$1.67	43d	1	0.66mi
10421 El Mercado Dr Rancho Cordova, CA	1.0–2.0	1.0	702	$1,651	$2.35	1d	1	0.74mi
9952 Vanguard Dr Sacramento, CA	3.0	2.0	1168	$2,450	$2.10	12d	1	0.80mi
10407 White Rock Rd Unit B Rancho Cordova, CA	2.0	1.0	1000	$2,000	$2.00	43d	1	0.82mi
3545 Mather Field Rd Rancho Cordova, CA	2.0	1.0	604	$1,775	$2.94	1d	5	0.90mi
10240 S White Rock Rd Rancho Cordova, CA	2.0	1.0	802	$1,500	$1.87	43d	1	0.93mi
10069 Lincoln Village Dr Sacramento, CA	2.0	1.0	882	$2,049	$2.32	4d	1	0.98mi
3466 Data Dr Rancho Cordova, CA	1.0–2.0	1.0–2.0	955	$2,411	$2.52	1d	8	1.03mi
10498 Mills Tower Dr Rancho Cordova, CA	2.0	1.0	810	$1,900	$2.35	23d	1	1.19mi
3100 Explorer Dr Sacramento, CA	3.0	2.0	1380	$2,575	$1.87	16d	1	1.24mi
10515 Mills Tower Dr Rancho Cordova, CA	1.0–2.0	1.0	665	$1,495	$2.25	10d	1	1.26mi
9849 Lincoln Village Dr Unit A Sacramento, CA	2.0	1.0	1100	$1,995	$1.81	43d	1	1.32mi
2830 Mills Park Dr Rancho Cordova, CA	1.0–2.0	1.0	712	$1,525	$2.14	23d	5	1.36mi
10495 Malaga Way Rancho Cordova, CA	3.0	2.0	1203	$2,495	$2.07	20d	1	1.37mi
9838 Lincoln Village Dr Sacramento, CA	1.0–2.0	1.0–2.0	732	$1,601	$2.19	3d	8	1.40mi
2910 Weston Way Rancho Cordova, CA	3.0	1.0	1098	$2,460	$2.24	10d	1	1.40mi
1200 Gary Way Carmichael, CA	3.0	2.0	1414	$2,495	$1.76	14d	1	1.43mi
1111 McClaren Dr Carmichael, CA	2.0	1.0	1440	$2,335	$1.62	10d	1	1.45mi
10524 Croetto Way Rancho Cordova, CA	2.0	1.0	926	$1,400	$1.51	4d	1	1.46mi
10524 Croetto Way Unit 1 Rancho Cordova, CA	2.0	1.0	926	$1,500	$1.62	23d	1	1.46mi
3600 Kobias Ct Sacramento, CA	3.0	2.0	1257	$2,650	$2.11	23d	1	1.46mi
2643 Furmint Way Unit 3 Rancho Cordova, CA	2.0	1.0	946	$1,695	$1.79	43d	1	1.50mi

Listing history 4 events

1. 2026-06-03
   days on market $168,000 Active 90 DOM
2. 2026-06-02
   days on market $168,000 Active 89 DOM
3. 2026-06-01
   days on market $168,000 Active 88 DOM
4. 2026-05-31
   days on market $168,000 Active 87 DOM

ⓘ 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 X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 6 d/yr ≥102°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 33 unhealthy d/yr today · 35 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,153
• − Mortgage interest: −$9,411
• − Property taxes: −$2,520
• − Insurance: −$840
• − Repairs & maintenance: −$1,932
• − Management: −$1,932
• − Depreciation: −$4,887
• Taxable income: $2,631
• Est. tax owed @ 24.0%: −$631
• After-tax cash flow: $4,517/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.

Condition & rehab AI · 4 photos

Good 80/100 Cosmetic rehab

This move-in ready manufactured home has been fully renovated with new kitchen, bathrooms, siding, windows, flooring, and landscaping, making it an excellent investment opportunity.

Value-add opportunities

• Both Landscaping improvements — Enhances curb appeal and low-maintenance care.
• Both Interior updates — Fresh paint and new fixtures improve aesthetics and functionality.
• Both Kitchen and bathroom upgrades — Modern appliances and fixtures attract more buyers and renters.
• Both HVAC and mechanical system maintenance — Ensures comfort and energy efficiency, reducing utility costs and improving property value.
• Both Patio and landscaping maintenance — Keeps the property looking well-maintained and attractive to potential buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping improvements — Enhances curb appeal and low-maintenance care. ↑
• Both Interior updates — Fresh paint and new fixtures improve aesthetics and functionality. ↑
• Both Kitchen and bathroom upgrades — Modern appliances and fixtures attract more buyers and renters. ↑
• Both HVAC and mechanical system maintenance — Ensures comfort and energy efficiency, reducing utility costs and improving property value. ↑
• Both Patio and landscaping maintenance — Keeps the property looking well-maintained and attractive to potential buyers and renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Sacramento City Unified
• NCES district ID: 0633840
• Math proficiency: 32% ▬ 0.00%
• Reading proficiency: 43% ▲ 3.00%
• Median HH income: $49,280
• Composite: 34.86/100
• National rank: #10000
• State rank: #804 of 1400 in CA

Livability — Rancho Cordova

• Score: 68/100
• State rank: #268
• US rank: #9126

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rancho Cordova, CA
• County: Sacramento County · 1,539,646 people
• City population: 98,329
• Metro: Sacramento-Roseville-Folsom, CA
• Population (ZIP): 21,742
• Household income: $85,841
• Rent vs Own: 36.7% rent · 63.3% own
• Severe rent burden: 949.0

Population outlook (Sacramento County) Hauer SSP2

• Today (2025): 1,660,763 people
• By 2030: 1,732,990 · +4.3%
• By 2040: 1,855,755 · +11.7%
• By 2050: 1,941,335 · +16.9%
• By 2075: 2,046,162 · +23.2%
• By 2100: 1,961,444 · +18.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 47% Hispanic / Latino 24% Black 13% Two or more races 12% Asian 10% Native American 1%
• Hispanic origin (detail): Mexican 19%
• Common ancestry: Subsaharan African 5% Italian 2% Scotch-Irish 2%
• Foreign-born: 22% · Canada, Vietnam, South Korea
• Languages at home: 67% English-only · Spanish 14% Russian/Polish/Slavic 10% Other Indo-European 3%

Political lean MEDSL · Sacramento

• 2024 margin: D (+19.7) · D 58.1% · R 38.4% · Other 3.5%
• 2008→2024 swing: +0.7pp no change · 2008: 19.0pp · 2024: 19.7pp
• All cycles: 2024: D+19.7 2020: D+25.3 2016: D+23.7 2012: D+16.3 2008: D+19.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -223.22%
• Current HPI: 349.4168
• Rent YoY: ▲ 2.41%
• Metro: Sacramento-Roseville-Folsom, 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