4878 Leonard #11 · Bootjack, CA 95338

$164,000

2 bd · 2.0 ba · 1,380 sqft · Other public records · 240 Days on market

Built 1979 Fair condition 14 ac lot $108/mo HOA · 6% of rent

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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 +22.0/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +6.6/10.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Livability +2.4/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Price reduced Charming & Well-Maintained Home in Stoneridge 55+ Community Welcome to this charming, well-cared-for double-wide manufactured home located in the desirable Stoneridge Inc. neighborhood — a friendly 55+ community. This 2-bedroom, 2-bath home is electric only and features a comfortable enclosed 8' x 20.5' sitting porch, a laundry room, and plenty of storage throughout. Two of the home’s eaves have been upgraded with newer steel supports set in cement posts for added durability. Enjoy outdoor living under the front 30-ft awning and rear 45-ft awning, both just two years old — perfect for shade, entertaining, or relaxing year-round. Additional highlights include a detached two-car garage, a 3-ft fenced yard ideal for pets, and a shared septic system with one neighbor. Community dues are just $325 quarterly, covering your trash and water service. This home is priced to sell — don’t wait! Schedule your appointment to view today and make this delightful property your new home before the holidays!

Key facts

• Front awning
• Fenced yard
• Upgraded eaves

Tags

• SITTING PORCH
• DETACHED GARAGE
• FENCED YARD
• FRONT AWNING
• REAR AWNING
• UPGRADED EAVES

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $164k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $261 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $164k).
• Recommended offer: $144k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 3.3% in Bootjack — 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 (#1,203 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing B; Watch: employment C-, crime F, amenities F.
• Mariposa County Unified (rural): math 27% / reading 42% proficiency, ranked #282 of 517 in CA (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 170 active listings in the ZIP; 89 units permitted in Mariposa County in 2024 (0 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.
• Mariposa County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 240 days — a 12% lower offer ($144k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 12y 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 $100k; list at $164k implies a 64% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 8→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $144,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 240 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.16% ✓
• Cap rate: 8.20%
• Cash-on-cash: 6.82%
• DSCR: 1.30
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -5.8%
• Equity multiple: 0.79×
• Total profit: $-9,863
• Equity at exit: $24,453

10-year hold

• IRR: 3.9%
• Equity multiple: 1.29×
• Total profit: $13,194
• Equity at exit: $14,180

Cash invested: $45,920 (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 95338

• Active inventory: 170
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,902 medium
• Mortgage (P&I): −$860
• Tax est. 1.5%: −$205 /mo · $2,460/yr
• Insurance: −$68
• HOA: −$108
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $261

Break-even live

Break-even rent $1,571

Max offer price $164,000

Occupancy floor 81%

Sensitivity live

Price	-10% $374	-5% $318	+0% $261	+5% $204	+10% $148
Rent	-10% $111	-5% $186	+0% $261	+5% $336	+10% $411
Rate	-1.0pp $343	-0.5pp $303	base $261	+0.5pp $218	+1.0pp $175

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: $41,000
• Closing costs: $4,920
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $108 · $1,296/yr
• Likely covers: watertrashelectric

Listing history 25 events

1. 2026-06-21
   days on market $164,000 Active 240 DOM
2. 2026-06-19
   days on market $164,000 Active 238 DOM
3. 2026-06-18
   days on market $164,000 Active 237 DOM
4. 2026-06-17
   days on market $164,000 Active 236 DOM
5. 2026-06-16
   days on market $164,000 Active 235 DOM
6. 2026-06-15
   days on market $164,000 Active 234 DOM
7. 2026-06-14
   days on market $164,000 Active 232 DOM
8. 2026-06-13
   days on market $164,000 Active 231 DOM
9. 2026-06-10
   days on market $164,000 Active 229 DOM
10. 2026-06-09
    days on market $164,000 Active 228 DOM
11. 2026-06-08
    days on market $164,000 Active 227 DOM
12. 2026-06-07
    days on market $164,000 Active 226 DOM
13. 2026-06-05
    days on market $164,000 Active 223 DOM
14. 2026-06-03
    days on market $164,000 Active 222 DOM
15. 2026-06-02
    days on market $164,000 Active 221 DOM
16. 2026-06-01
    days on market $164,000 Active 220 DOM
17. 2026-05-31
    days on market $164,000 Active 219 DOM
18. 2026-05-30
    days on market $164,000 Active 218 DOM
19. 2026-04-03
    price $164,000 1055-char remark

    Show marketing remark (1055 chars)

    Price reduced Charming & Well-Maintained Home in Stoneridge 55+ Community Welcome to this charming, well-cared-for double-wide manufactured home located in the desirable Stoneridge Inc. neighborhood — a friendly 55+ community. This 2-bedroom, 2-bath home is electric only and features a comfortable enclosed 8' x 20.5' sitting porch, a laundry room, and plenty of storage throughout. Two of the home’s eaves have been upgraded with newer steel supports set in cement posts for added durability. Enjoy outdoor living under the front 30-ft awning and rear 45-ft awning, both just two years old — perfect for shade, entertaining, or relaxing year-round. Additional highlights include a detached two-car garage, a 3-ft fenced yard ideal for pets, and a shared septic system with one neighbor. Community dues are just $325 quarterly, covering your trash and water service. This home is priced to sell — don’t wait! Schedule your appointment to view today and make this delightful property your new home before the holidays!

20. 2026-01-07
    price $169,000 1055-char remark

    Show marketing remark (1055 chars)

    Price reduced Charming & Well-Maintained Home in Stoneridge 55+ Community Welcome to this charming, well-cared-for double-wide manufactured home located in the desirable Stoneridge Inc. neighborhood — a friendly 55+ community. This 2-bedroom, 2-bath home is electric only and features a comfortable enclosed 8' x 20.5' sitting porch, a laundry room, and plenty of storage throughout. Two of the home’s eaves have been upgraded with newer steel supports set in cement posts for added durability. Enjoy outdoor living under the front 30-ft awning and rear 45-ft awning, both just two years old — perfect for shade, entertaining, or relaxing year-round. Additional highlights include a detached two-car garage, a 3-ft fenced yard ideal for pets, and a shared septic system with one neighbor. Community dues are just $325 quarterly, covering your trash and water service. This home is priced to sell — don’t wait! Schedule your appointment to view today and make this delightful property your new home before the holidays!

21. 2025-10-24
    listed $170,000 Active 1055-char remark

    Show marketing remark (1055 chars)

    Price reduced Charming & Well-Maintained Home in Stoneridge 55+ Community Welcome to this charming, well-cared-for double-wide manufactured home located in the desirable Stoneridge Inc. neighborhood — a friendly 55+ community. This 2-bedroom, 2-bath home is electric only and features a comfortable enclosed 8' x 20.5' sitting porch, a laundry room, and plenty of storage throughout. Two of the home’s eaves have been upgraded with newer steel supports set in cement posts for added durability. Enjoy outdoor living under the front 30-ft awning and rear 45-ft awning, both just two years old — perfect for shade, entertaining, or relaxing year-round. Additional highlights include a detached two-car garage, a 3-ft fenced yard ideal for pets, and a shared septic system with one neighbor. Community dues are just $325 quarterly, covering your trash and water service. This home is priced to sell — don’t wait! Schedule your appointment to view today and make this delightful property your new home before the holidays!

22. 2014-06-03
    soldstatus $100,000 573-char remark

    Show marketing remark (573 chars)

    Well maintained manufactured home in Stone Ridge Park! Great location between Oakhurst and Mariposa! This 2 bedroom, 2 bath home offers a unique opportunity! Stone Ridge is owned by the manufactured home owners! Enjoy the breathtaking sunsets from the porch! A nice living room, family room, kitchen, laundry room, storage space and a bonus room make for spacious and comfortable living space! There is even an enclosed patio that is great for use in all 4 seasons! There's even a detached 2 car garage and a storage shed. This is a beautiful home in a great park!

23. 2014-04-16
    listed $119,000 573-char remark

    Show marketing remark (573 chars)

    Well maintained manufactured home in Stone Ridge Park! Great location between Oakhurst and Mariposa! This 2 bedroom, 2 bath home offers a unique opportunity! Stone Ridge is owned by the manufactured home owners! Enjoy the breathtaking sunsets from the porch! A nice living room, family room, kitchen, laundry room, storage space and a bonus room make for spacious and comfortable living space! There is even an enclosed patio that is great for use in all 4 seasons! There's even a detached 2 car garage and a storage shed. This is a beautiful home in a great park!

24. 2014-04-10
    historical
25. 2014-01-15
    listed $125,000

ⓘ 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 X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 9/10 Extreme
• 🌡 Heat 5/10 Major 8 d/yr ≥102°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 48 unhealthy d/yr today · 55 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,819
• − Mortgage interest: −$9,187
• − Property taxes: −$2,460
• − Insurance: −$820
• − Repairs & maintenance: −$1,826
• − Management: −$1,826
• − HOA: −$1,296
• − Depreciation: −$4,771
• Taxable income: $635
• Est. tax owed @ 24.0%: −$152
• After-tax cash flow: $2,978/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 · 13 photos

Fair 45/100 Moderate rehab

The home is in fair condition with some cosmetic updates needed to improve its resale and rental value.

Repairs flagged

• Minor kitchen cabinets — dated design
• Minor bathroom fixtures — dated design
• Minor landscaping — overgrown vegetation

Value-add opportunities

• Resale update kitchen cabinets and fixtures — modernizing the kitchen would appeal to buyers
• Resale update bathroom fixtures — modernizing the bathroom would appeal to buyers
• Both landscaping — improving the landscaping would enhance curb appeal and attract more tenants

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated design	Minor	$500–3,000
bathroom fixtures · dated design	Minor	$500–3,000
landscaping · overgrown vegetation	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Resale update kitchen cabinets and fixtures — modernizing the kitchen would appeal to buyers ↑
• Resale update bathroom fixtures — modernizing the bathroom would appeal to buyers ↑
• Both landscaping — improving the landscaping would enhance curb appeal and attract more tenants ↑

ⓘ 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: Mariposa County Unified
• NCES district ID: 0623940
• Math proficiency: 27% ▼ -12.00%
• Reading proficiency: 42% ▼ -5.00%
• Median HH income: $48,669
• Composite: 29.75/100
• National rank: #6438
• State rank: #282 of 517 in CA

Livability — Bootjack

• Score: 48/100
• State rank: #1203
• US rank: #26092

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 10,164

Population outlook (Mariposa County) Hauer SSP2

• Today (2025): 15,956 people
• By 2030: 15,078 · -5.5%
• By 2040: 13,413 · -15.9%
• By 2050: 12,232 · -23.3%
• By 2075: 11,143 · -30.2%
• By 2100: 10,187 · -36.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Two or more races 9% Hispanic / Latino 9% Native American 2% Asian 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Lithuanian 5% Italian 4% Russian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 95% English-only · Spanish 2% French/Haitian/Cajun 1% Chinese 1%

Political lean MEDSL · Mariposa

• 2024 margin: Strong R (+21.1) · D 38.1% · R 59.1% · Other 2.8%
• 2008→2024 swing: -8.6pp toward R · 2008: -12.4pp · 2024: -21.1pp
• All cycles: 2024: R+21.1 2020: R+18.1 2016: R+23.2 2012: R+17.4 2008: R+12.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -151.82%
• Current HPI: 140.3045
• 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

+31.2% since first listed

7 events — show timeline

• 2026-04-03 Price Changed $164,000 CRMLS
• 2026-01-07 Price Changed $169,000 CRMLS
• 2025-10-24 Listed $170,000 CRMLS
• 2014-06-03 Sold (MLS) $100,000 CRMLS
• 2014-04-16 Listed $119,000 CRMLS
• 2014-04-10 Listing Removed — CRMLS
• 2014-01-15 Listed $125,000 CRMLS