2 Del Loma #2 Ct

Vacaville, CA 95687

$219,000C+

3 bd · 2.0 ba · 1,222 sqft · Built 2004 · Manufactured · Active · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,930/mo
• Mortgage (P&I): −$1,148
• Tax + insurance: −$365
• HOA: −$0
• Vac / Maint / Mgmt: −$615
• Net cashflow: $801/mo
• Annual: $9,611/yr
• Cap rate: 10.68%
• Cash-on-cash: 15.67%
• DSCR: 1.70
• 1% rule: 1.34%
• Cash to close: $61,320

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $219k. Condition is rated good.
• At list price, monthly cash flow is $801 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $219k).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 77/100 on livability (#88 in CA, #3,156 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, employment A+, housing A+; Watch: cost of living F.
• Vacaville Unified (suburban): math 37% / reading 52% proficiency, ranked #522 of 1,400 in CA (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Jean Callison Elementary (680 students, 39% FRL); Vaca Pena Middle (689 students, 53% FRL); Will C. Wood High (1,670 students, 42% FRL).
• Market conditions: Rents soft (-0.6%/yr); 265 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,472 units permitted in Solano County in 2024 (131 in 5+ unit buildings).
• Solano County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 10.7% vs local median 3.0% in Vacaville — 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.
• This rent runs 32% of the median local income ($110k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.