4878 Leonard Rd #3 · Bootjack, CA 95338

$129,000

2 bd · 2.0 ba · 1,380 sqft · Other public records · 80 Days on market

Built 1969 Fair condition 10,454 sqft lot $93/sqft · 19% below area Est $141k · 8% under $108/mo HOA · 6% of rent

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Why this score? — see what drove the B 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
• ARV discount +11.3/15.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• 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

Bright 2BD/2BA with Stunning Mountain Views | 55+ Community Near Yosemite Move-in ready 2-bedroom, 2-bath mobile home offering 1,224 sq ft of living space plus an additional 228 sq ft sunroom in desirable Stoneridge Mobile Home Park, a peaceful 55+ community ideally located between Mariposa and Oakhurst—just 38 miles to Yosemite’s Arch Rock entrance. Light-filled interior with large picture windows showcasing mountain views, including Bald Rock. Comfortable, well-defined living spaces provide a functional layout for everyday living and entertaining. Enjoy cozy evenings by the wood stove and relax in the sunroom. Step outside to a deck with sweeping views—perfect for taking in the surrounding beauty. Community amenities include clubhouse and shared garden shed. Quarterly dues of $325 cover water, trash, and maintenance of common areas. No Monthly Space Rent!! Enjoy quiet, scenic living with convenient access to town and Yosemite. Must see!

Key facts

• Shared garden shed
• Clubhouse
• Sunroom

Tags

• MOUNTAIN VIEWS
• SUNROOM
• DECK
• CLUBHOUSE
• SHARED GARDEN SHED
• CONVENIENT ACCESS TO TOWN

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $129k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $503 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $129k).
• Recommended offer: $121k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.0% vs local median 3.4% 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: 167 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 $892 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $66k; list at $129k implies a 95% 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 $121,260 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% 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 1969 — 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: 1.47% ✓
• Cap rate: 10.97%
• Cash-on-cash: 16.70%
• DSCR: 1.74
• GRM: 5.7

CMA / ARV

• ARV (median comp): $140,912
• List price: $129,000
• Delta: -8.45%
• Verdict: FAIR
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 7.9%
• Equity multiple: 1.31×
• Total profit: $11,213
• Equity at exit: $19,234

10-year hold

• IRR: 17.2%
• Equity multiple: 2.42×
• Total profit: $51,384
• Equity at exit: $11,154

Cash invested: $36,120 (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: 167
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,902 medium
• Mortgage (P&I): −$676
• Tax est. 1.5%: −$161 /mo · $1,935/yr
• Insurance: −$54
• HOA: −$108
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $503

Break-even live

Break-even rent $1,265

Max offer price $129,000

Occupancy floor 69%

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

HOA detail

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

Listing history 19 events

1. 2026-06-19
   days on market $129,000 Active 80 DOM
2. 2026-06-18
   days on market $129,000 Active 79 DOM
3. 2026-06-17
   days on market $129,000 Active 78 DOM
4. 2026-06-16
   days on market $129,000 Active 77 DOM
5. 2026-06-15
   days on market $129,000 Active 76 DOM
6. 2026-06-14
   days on market $129,000 Active 74 DOM
7. 2026-06-13
   days on market $129,000 Active 73 DOM
8. 2026-06-10
   days on market $129,000 Active 71 DOM
9. 2026-06-09
   days on market $129,000 Active 70 DOM
10. 2026-06-08
    days on market $129,000 Active 69 DOM
11. 2026-06-07
    days on market $129,000 Active 68 DOM
12. 2026-06-05
    days on market $129,000 Active 65 DOM
13. 2026-06-03
    days on market $129,000 Active 64 DOM
14. 2026-06-02
    days on market $129,000 Active 63 DOM
15. 2026-06-01
    days on market $129,000 Active 62 DOM
16. 2026-05-31
    days on market $129,000 Active 61 DOM
17. 2026-05-30
    days on market $129,000 Active 60 DOM
18. 2026-03-31
    listed $145,000 Active 978-char remark

    Show marketing remark (978 chars)

    Bright 2BD/2BA with Stunning Mountain Views | 55+ Community Near Yosemite Move-in ready 2-bedroom, 2-bath mobile home offering 1,224 sq ft of living space plus an additional 228 sq ft sunroom in desirable Stoneridge Mobile Home Park, a peaceful 55+ community ideally located between Mariposa and Oakhurst—just 38 miles to Yosemite’s Arch Rock entrance. Light-filled interior with large picture windows showcasing mountain views, including Bald Rock. Comfortable, well-defined living spaces provide a functional layout for everyday living and entertaining. Enjoy cozy evenings by the wood stove and relax in the sunroom. Step outside to a deck with sweeping views—perfect for taking in the surrounding beauty. Community amenities include clubhouse and shared garden shed. Quarterly dues of $325 cover water, trash, and maintenance of common areas. No Monthly Space Rent!! Enjoy quiet, scenic living with convenient access to town and Yosemite. Must see!

19. 2012-10-03
    soldstatus $66,000 1117-char remark

    Show marketing remark (1117 chars)

    Just one hour from Yosemite National Park Stoneridge Estates is set away in quiet forest setting about a mile off Highway 49 between the communities of Oakhurst and Mariposa. Sit on the large deck and enjoy the panoramic mountain views of the Sierras. 1400 sq ft of living space, surrounded by lush sprinklered landscaping, and pines, oaks, and cedars. One of 14 mobile homes at Stoneridge Estates, a private corporation property where each owns 1/14 interest. Costs are equally divided . .. .. community dues are just $70/mo & community property taxes less than $100 semiannually. .. .. .WOW! One owner must at least 55 years of age. Corporate property includes blacktop roadways, water wells, storage tanks, & Clubhouse for use by shareholders & their families. A truly unique low cost senior community , requiring community preapproval to obtain ownership. .. .. .peaceful and beautiful place to live fulltime or use as your vacation retreat. MUST SEE! Note, Seller will consider trade for real estate or collectible personal property, or carry back short term loan with substantial down payment.

ⓘ 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: −$7,226
• − Property taxes: −$1,935
• − Insurance: −$645
• − Repairs & maintenance: −$1,826
• − Management: −$1,826
• − HOA: −$1,296
• − Depreciation: −$3,753
• Taxable income: $4,313
• Est. tax owed @ 24.0%: −$1,035
• After-tax cash flow: $4,998/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 · 12 photos

Fair 45/100 Moderate rehab

This mobile home requires moderate repairs and maintenance to improve its condition and value. Key areas for improvement include the kitchen and bathroom, exterior siding, and interior walls.

Repairs flagged

• Minor kitchen cabinets — slight wear
• Minor bathroom vanity — slight wear
• Minor exterior siding — some wear
• Minor interior walls — some wear
• Minor windows — some wear

Value-add opportunities

• Both paint interior walls — enhances curb appeal and interior aesthetics
• Both replace worn flooring — improves comfort and durability
• Both repair exterior siding — enhances curb appeal and structural integrity

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · slight wear	Minor	$500–3,000
bathroom vanity · slight wear	Minor	$500–3,000
exterior siding · some wear	Minor	$500–3,000
interior walls · some wear	Minor	$500–3,000
windows · some wear	Minor	$500–3,000
Total estimated repair cost · 5 items		$2,500–15,000

Value-add ROI direction

• Both paint interior walls — enhances curb appeal and interior aesthetics ↑
• Both replace worn flooring — improves comfort and durability ↑
• Both repair exterior siding — enhances curb appeal and structural integrity ↑

ⓘ 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

+119.7% since first listed

2 events — show timeline

• 2026-03-31 Listed $145,000 CRMLS
• 2012-10-03 Sold (MLS) $66,000 CRMLS