34 Magnolia Dr #34

Calistoga, CA 94515

$193,900B+

2 bd · 2.0 ba · 1,048 sqft · Built 1973 · Manufactured · Coming Soon · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,605/mo
• Mortgage (P&I): −$1,017
• Tax + insurance: −$323
• HOA: −$0
• Vac / Maint / Mgmt: −$757
• Net cashflow: $1,508/mo
• Annual: $18,095/yr
• Cap rate: 15.62%
• Cash-on-cash: 33.33%
• DSCR: 2.48
• 1% rule: 1.86%
• Cash to close: $54,292

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $194k. Condition is rated poor.
• At list price, monthly cash flow is $2k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $194k).
• It's been on market 38 days — a 3% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $188k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#448 in CA) — a middle-class / working-renter tenant base. Strengths: health & safety A+, employment A-; Watch: schools D+, amenities F, commute F.
• Calistoga Joint Unified (town): math 33% / reading 51% proficiency, ranked #624 of 1,400 in CA (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 107 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 427 units permitted in Napa County in 2024 (189 in 5+ unit buildings).
• Napa County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $54k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 15.6% vs local median 2.4% in Calistoga — 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 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: Kitchen — No kitchen photos provided, but the property is a manufactured home, which often requires significant kitchen renovations.
• Major: Bathrooms — No bathroom photos provided, but the property is a manufactured home, which often requires significant bathroom renovations.
• Major: Exterior — No exterior photos provided, but the property is a manufactured home, which often requires significant exterior renovations.
• Major: Flooring — No flooring photos provided, but the property is a manufactured home, which often requires significant flooring renovations.
• Major: Interior walls/paint — No interior wall/paint photos provided, but the property is a manufactured home, which often requires significant interior wall and paint renovations.
• Major: Windows — No window photos provided, but the property is a manufactured home, which often requires significant window renovations.