145 South St Unit A41 · San Luis Obispo, CA 93401

$159,000

2 bd · 1.0 ba · 594 sqft · Manufactured public records · 239 Days on market

Built 2018 $268/sqft · 24% above area Est $128k · 24% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.6/10.0
• Livability +3.7/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Embrace the SLO lifestyle in this cozy and well-maintained manufactured home offering nearly 600 sq. ft. of comfortable living space. Featuring 2 bedrooms and 1 bathroom, this home is perfect for those seeking easy living in a peaceful community setting. Step inside to find a freshly painted interior that feels bright and welcoming. The new vinyl plank flooring throughout is not only stylish, but also durable, making it ideal for everyday life. The functional layout makes smart use of space, while the cute back porch provides a relaxing spot to unwind and/or entertain guests. Enjoy the added convenience of street access directly from the back porch, making comings and goings a breeze. To add to the functionality of the home, there is a large clean shed located near the front door. Don't miss this opportunity to make SLO your home. Schedule your tour today!

Key facts

• Street access
• Cute back porch
• Functional layout

Tags

• FRESHLY PAINTED INTERIOR
• NEW VINYL PLANK FLOORING
• FUNCTIONAL LAYOUT
• CUTE BACK PORCH
• STREET ACCESS
• LARGE CLEAN SHED

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $159k.

Deal economics

• At list price, monthly cash flow is $834 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $159k).
• Recommended offer: $140k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.8% vs local median 2.1% in San Luis Obispo — 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 74/100 on livability (#132 in CA, #4,576 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: crime F, cost of living F.
• San Luis Coastal Unified (urban): math 50% / reading 58% proficiency, ranked #118 of 517 in CA (top 23%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Pacheco Elementary (math 34% / reading 41%, grade F, #667 of 1,571 statewide, top 43%, 482 students, 36% FRL); Laguna Middle (math 57% / reading 65%, grade B+, #57 of 498 statewide, top 12%, 789 students, 30% FRL); San Luis Obispo High (math 47% / reading 67%, grade C, #234 of 1,170 statewide, top 21%, 1,644 students, 27% FRL) — zoned schools at 31% FRL track the district average.
• Market conditions: Rents rising fast (+4.4%/yr); 140 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,104 units permitted in San Luis Obispo County in 2024 (273 in 5+ unit buildings).
• This rent runs 35% of the median local income ($97k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• San Luis Obispo County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 4.4% rent growth), your $45k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 239 days — a 12% lower offer ($140k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $139,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 239 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
7. 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.
8. 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.
9. 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: 1.76% ✓
• Cap rate: 15.80%
• Cash-on-cash: 33.97%
• DSCR: 2.51
• GRM: 4.7

CMA / ARV

• ARV (median comp): $127,913
• List price: $159,000
• Delta: 24.30%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
145 South Unit A55	0.00mi	2/1.0	540 (-9%)	0mo	$125,000	$231	85
145 South St Unit A08	0.00mi	2/1.0	616 (+4%)	12mo	$180,000	$292	84
145 south St Unit A10	0.00mi	2/1.0	520 (-12%)	11mo	$129,900	$250	70
145 South Street, spc A50 E Unit A 50	0.00mi	2/1.0	540 (-9%)	22mo	$171,000	$317	66

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 · 4.41% rent growth · sell at horizon

5-year hold

• IRR: 17.2%
• Equity multiple: 1.71×
• Total profit: $31,561
• Equity at exit: $23,707

10-year hold

• IRR: 26.9%
• Equity multiple: 3.55×
• Total profit: $113,666
• Equity at exit: $13,747

Cash invested: $44,520 (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 93401

• Rents YoY: 4.4%
• Active inventory: 140
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $2,791 high
• Mortgage (P&I): −$834
• Tax from tax record: −$44 /mo · $532/yr
• Insurance: −$66
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$586
• Net cashflow: $834

Break-even live

Break-even rent $1,735

Max offer price $159,000

Occupancy floor 65%

Sensitivity live

Price	-10% $924	-5% $879	+0% $834	+5% $789	+10% $744
Rent	-10% $613	-5% $724	+0% $834	+5% $944	+10% $1,054
Rate	-1.0pp $914	-0.5pp $874	base $834	+0.5pp $793	+1.0pp $751

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
544 Pacific St Apt 108 San Luis Obispo, CA	1.0	1.0	585	$1,975	$3.38	45d	1	0.59mi
564 Higuera St San Luis Obispo, CA	1.0	1.0	615	$2,775	$4.51	15d	4	0.68mi
522 Dana St San Luis Obispo, CA	2.0–3.0	1.0–2.0	875	$2,850	$3.26	15d	3	0.73mi
1427 Morro St Unit B San Luis Obispo, CA	1.0	1.0	400	$2,600	$6.50	45d	1	0.86mi
2800 Broad St San Luis Obispo, CA	1.0	1.0	464	$2,500	$5.39	45d	1	1.02mi
3150 Rockview Pl #8 San Luis Obispo, CA	1.0	1.0	600	$2,475	$4.12	45d	1	1.12mi
791 Orcutt Rd San Luis Obispo, CA	1.0	1.0	651	$2,750	$4.22	22d	3	1.28mi
1245 Peach St Unit B San Luis Obispo, CA	2.0	1.0	700	$2,800	$4.00	45d	1	1.36mi
1314 Palm St San Luis Obispo, CA	1.0	1.0	695	$2,600	$3.74	22d	1	1.36mi

Listing history 25 events

1. 2026-06-21
   days on market $159,000 Active 239 DOM
2. 2026-06-18
   days on market $159,000 Active 236 DOM
3. 2026-06-17
   days on market $159,000 Active 235 DOM
4. 2026-06-16
   days on market $159,000 Active 234 DOM
5. 2026-06-15
   days on market $159,000 Active 233 DOM
6. 2026-06-14
   days on market $159,000 Active 231 DOM
7. 2026-06-13
   days on market $159,000 Active 230 DOM
8. 2026-06-10
   days on market $159,000 Active 228 DOM
9. 2026-06-09
   days on market $159,000 Active 227 DOM
10. 2026-06-08
    days on market $159,000 Active 226 DOM
11. 2026-06-07
    days on market $159,000 Active 225 DOM
12. 2026-06-03
    days on market $159,000 Active 221 DOM
13. 2026-06-02
    days on market $159,000 Active 220 DOM
14. 2026-06-01
    days on market $159,000 Active 219 DOM
15. 2026-05-31
    days on market $159,000 Active 218 DOM
16. 2026-05-30
    days on market $159,000 Active 217 DOM
17. 2026-04-05
    status Active 868-char remark

    Show marketing remark (868 chars)

    Embrace the SLO lifestyle in this cozy and well-maintained manufactured home offering nearly 600 sq. ft. of comfortable living space. Featuring 2 bedrooms and 1 bathroom, this home is perfect for those seeking easy living in a peaceful community setting. Step inside to find a freshly painted interior that feels bright and welcoming. The new vinyl plank flooring throughout is not only stylish, but also durable, making it ideal for everyday life. The functional layout makes smart use of space, while the cute back porch provides a relaxing spot to unwind and/or entertain guests. Enjoy the added convenience of street access directly from the back porch, making comings and goings a breeze. To add to the functionality of the home, there is a large clean shed located near the front door. Don't miss this opportunity to make SLO your home. Schedule your tour today!

18. 2026-03-31
    historical
19. 2026-03-23
    listed $159,000 Active
20. 2026-03-22
    historical 868-char remark

    Show marketing remark (868 chars)

    Embrace the SLO lifestyle in this cozy and well-maintained manufactured home offering nearly 600 sq. ft. of comfortable living space. Featuring 2 bedrooms and 1 bathroom, this home is perfect for those seeking easy living in a peaceful community setting. Step inside to find a freshly painted interior that feels bright and welcoming. The new vinyl plank flooring throughout is not only stylish, but also durable, making it ideal for everyday life. The functional layout makes smart use of space, while the cute back porch provides a relaxing spot to unwind and/or entertain guests. Enjoy the added convenience of street access directly from the back porch, making comings and goings a breeze. To add to the functionality of the home, there is a large clean shed located near the front door. Don't miss this opportunity to make SLO your home. Schedule your tour today!

21. 2026-02-20
    status Active 868-char remark

    Show marketing remark (868 chars)

    Embrace the SLO lifestyle in this cozy and well-maintained manufactured home offering nearly 600 sq. ft. of comfortable living space. Featuring 2 bedrooms and 1 bathroom, this home is perfect for those seeking easy living in a peaceful community setting. Step inside to find a freshly painted interior that feels bright and welcoming. The new vinyl plank flooring throughout is not only stylish, but also durable, making it ideal for everyday life. The functional layout makes smart use of space, while the cute back porch provides a relaxing spot to unwind and/or entertain guests. Enjoy the added convenience of street access directly from the back porch, making comings and goings a breeze. To add to the functionality of the home, there is a large clean shed located near the front door. Don't miss this opportunity to make SLO your home. Schedule your tour today!

22. 2026-02-06
    status Pending Sale 868-char remark

    Show marketing remark (868 chars)

    Embrace the SLO lifestyle in this cozy and well-maintained manufactured home offering nearly 600 sq. ft. of comfortable living space. Featuring 2 bedrooms and 1 bathroom, this home is perfect for those seeking easy living in a peaceful community setting. Step inside to find a freshly painted interior that feels bright and welcoming. The new vinyl plank flooring throughout is not only stylish, but also durable, making it ideal for everyday life. The functional layout makes smart use of space, while the cute back porch provides a relaxing spot to unwind and/or entertain guests. Enjoy the added convenience of street access directly from the back porch, making comings and goings a breeze. To add to the functionality of the home, there is a large clean shed located near the front door. Don't miss this opportunity to make SLO your home. Schedule your tour today!

23. 2026-01-17
    status Active 868-char remark

    Show marketing remark (868 chars)

    Embrace the SLO lifestyle in this cozy and well-maintained manufactured home offering nearly 600 sq. ft. of comfortable living space. Featuring 2 bedrooms and 1 bathroom, this home is perfect for those seeking easy living in a peaceful community setting. Step inside to find a freshly painted interior that feels bright and welcoming. The new vinyl plank flooring throughout is not only stylish, but also durable, making it ideal for everyday life. The functional layout makes smart use of space, while the cute back porch provides a relaxing spot to unwind and/or entertain guests. Enjoy the added convenience of street access directly from the back porch, making comings and goings a breeze. To add to the functionality of the home, there is a large clean shed located near the front door. Don't miss this opportunity to make SLO your home. Schedule your tour today!

24. 2026-01-13
    status Pending Sale 868-char remark

    Show marketing remark (868 chars)

    Embrace the SLO lifestyle in this cozy and well-maintained manufactured home offering nearly 600 sq. ft. of comfortable living space. Featuring 2 bedrooms and 1 bathroom, this home is perfect for those seeking easy living in a peaceful community setting. Step inside to find a freshly painted interior that feels bright and welcoming. The new vinyl plank flooring throughout is not only stylish, but also durable, making it ideal for everyday life. The functional layout makes smart use of space, while the cute back porch provides a relaxing spot to unwind and/or entertain guests. Enjoy the added convenience of street access directly from the back porch, making comings and goings a breeze. To add to the functionality of the home, there is a large clean shed located near the front door. Don't miss this opportunity to make SLO your home. Schedule your tour today!

25. 2025-09-23
    listed $159,000 Active 868-char remark

    Show marketing remark (868 chars)

    Embrace the SLO lifestyle in this cozy and well-maintained manufactured home offering nearly 600 sq. ft. of comfortable living space. Featuring 2 bedrooms and 1 bathroom, this home is perfect for those seeking easy living in a peaceful community setting. Step inside to find a freshly painted interior that feels bright and welcoming. The new vinyl plank flooring throughout is not only stylish, but also durable, making it ideal for everyday life. The functional layout makes smart use of space, while the cute back porch provides a relaxing spot to unwind and/or entertain guests. Enjoy the added convenience of street access directly from the back porch, making comings and goings a breeze. To add to the functionality of the home, there is a large clean shed located near the front door. Don't miss this opportunity to make SLO your home. Schedule your tour today!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $532 · $44/mo
• Projected year-2 tax: $1,208 · $101/mo
• Expected delta: +$676/yr (+$56/mo · 127.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 4/10 Moderate 6 d/yr ≥82°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 11 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,489
• − Mortgage interest: −$8,906
• − Property taxes: −$532
• − Insurance: −$5,914
• − Repairs & maintenance: −$2,679
• − Management: −$2,679
• − Depreciation: −$4,625
• Taxable income: $8,153
• Est. tax owed @ 24.0%: −$1,957
• After-tax cash flow: $8,048/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.

Schools (NCES district)

• District: San Luis Coastal Unified
• NCES district ID: 0634800
• Math proficiency: 50% ▼ -14.00%
• Reading proficiency: 58% ▼ -12.00%
• Median HH income: $53,428
• Composite: 46.4/100
• National rank: #2455
• State rank: #118 of 517 in CA

Livability — San Luis Obispo

• Score: 74/100
• State rank: #132
• US rank: #4576

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: San Luis Obispo, CA
• County: San Luis Obispo County · 224,651 people
• City population: 54,204
• Metro: San Luis Obispo-Paso Robles, CA
• Population (ZIP): 29,202
• Household income: $96,824
• Rent vs Own: 52.1% rent · 47.9% own
• Severe rent burden: 2050.0

Population outlook (San Luis Obispo County) Hauer SSP2

• Today (2025): 306,977 people
• By 2030: 320,378 · +4.4%
• By 2040: 343,933 · +12.0%
• By 2050: 366,853 · +19.5%
• By 2075: 428,329 · +39.5%
• By 2100: 460,687 · +50.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 18% Two or more races 12% Asian 4% Black 2%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Lithuanian 4% Italian 3% Portuguese 3%
• Foreign-born: 9% · Canada, China, South Korea
• Languages at home: 84% English-only · Spanish 10% Chinese 1% Other Asian/Pacific 1%

Political lean MEDSL · San Luis Obispo

• 2024 margin: D (+10.9) · D 53.9% · R 43.1% · Other 3.0%
• 2008→2024 swing: +5.5pp toward D · 2008: 5.4pp · 2024: 10.9pp
• All cycles: 2024: D+10.9 2020: D+13.1 2016: D+8.3 2012: D+1.0 2008: D+5.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -796.84%
• Current HPI: 359.9248
• Rent YoY: ▲ 4.41%
• Metro: San Luis Obispo-Paso Robles, 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

Price history

+0.0% since first listed

9 events — show timeline

• 2026-04-05 Relisted — CRMLS
• 2026-03-31 Listing Removed — CRMLS
• 2026-03-23 Listed $159,000 CRMLS
• 2026-03-22 Listing Removed — CRMLS
• 2026-02-20 Relisted — CRMLS
• 2026-02-06 Pending — CRMLS
• 2026-01-17 Relisted — CRMLS
• 2026-01-13 Pending — CRMLS
• 2025-09-23 Listed $159,000 CRMLS

Property tax history

-3.9%/yr

Latest (2025): $532 · +1.7% YoY. Source: county tax records.