510 Saddlebrook Dr #105 · San Jose, CA 95136

$349,500

2 bd · 2.0 ba · 1,344 sqft · Manufactured · 31 Days on market

Built 1978 Est $329k · 6% over

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Why this score? — see what drove the D+ 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 +18.4/30.0
• DSCR +5.8/10.0
• 1% rule +4.9/10.0
• Schools +4.9/10.0
• ARV discount +4.7/15.0
• Livability +3.9/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fully remodeled 2BD/2BA mobile home located in a desirable All-Ages Family Park! No property taxes! This move-in-ready home has been upgraded from top to bottom with a new comp roof, new windows, new electrical and new plumbing, fresh interior and exterior paint, remodeled bathrooms, and stylish new flooring throughout. The stunning new kitchen is a showstopper, featuring gorgeous new cabinetry, sleek stainless steel appliances, and a convenient breakfast bar that opens to the spacious living area. The bright open floor plan and generously sized rooms create the perfect blend of comfort, style, and functionality. Modern upgrades and designer touches shine throughout this beautifully updated home a must-see! Located in Rancho Santa Teresa Mobile Home Park. Close to parks, dining and shopping.

Key facts

• New comp roof
• New plumbing
• New electrical

Tags

• REMODELED MOBILE HOME
• NEW COMP ROOF
• NEW WINDOWS
• NEW ELECTRICAL
• NEW PLUMBING
• REMODELED BATHROOMS

Property features AI

Finance

• Other: Park home site on leased land
• Financial info: In-lieu-of-tax (ILT) tax type; Space rent applies for assigned parking
• HOA & community: Community clubhouse; Community pool

Exterior

• Parking: Carport for 2 cars; Guest/visitor parking; Assigned space #105 (space rent applies)
• Utilities: Public water; Public sewer; Public utilities
• Home design: Manufactured/mobile home (park site)
• Construction: Composition roof
• Exterior features: Composition roof; Leased land (park home site); Age not restricted; Family park; Pets allowed with number restrictions

Interior

• Kitchen: Dishwasher; Garbage disposal; Hood over range; Gas oven/range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Laminate; Vinyl/linoleum
• Bathrooms: 2 full bathrooms with shower and tub
• Heating & cooling: Central forced air heating; Central forced air cooling
• Interior features: Kitchen/family room combo; Breakfast bar and dining area; Laundry hookups only; Storage
• Laundry & utility: Washer/dryer hookups

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $350k.

Deal economics

• At list price, monthly cash flow is $325 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $347k (0.7% below list).
• Recommended offer: $339k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 1.6% in San Jose — 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 78/100 on livability (#68 in CA, #2,559 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: crime F, cost of living F.
• Oak Grove Elementary (urban): math 47% / reading 54% proficiency, ranked #339 of 1,400 in CA (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Hayes Elementary (477 students, 47% FRL).
• Market conditions: Rents rising (+3.4%/yr); 91 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 3,838 units permitted in Santa Clara County in 2024 (1,886 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Santa Clara County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($339k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 27y ago; this cycle's ask is 40% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $44k; list at $350k implies a 694% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $339,015 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.99% ✗
• Cap rate: 7.41%
• Cash-on-cash: 3.99%
• DSCR: 1.18
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $329,280
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
510 Saddle Brk #113	0.02mi	2/2.0	1,344 (0%)	2mo	$290,000	$216	97
510 Saddlebrook Dr #341	0.00mi	2/2.0	1,440 (+7%)	2mo	$303,000	$210	87
510 Saddle Brook Dr #202	0.00mi	2/2.0	1,344 (0%)	19mo	$250,000	$186	84
510 Saddlebrook Dr #153	0.00mi	3/2.0 (+1)	1,430 (+6%)	9mo	$489,000	$342	77
510 Saddlebrook Dr #293	0.10mi	3/2.0 (+1)	1,392 (+4%)	10mo	$410,000	$295	76
510 Saddle Brook Dl #241	0.02mi	2/2.0	1,440 (+7%)	16mo	$353,500	$245	74
510 Saddlebrook Dr #271	0.00mi	3/2.0 (+1)	1,500 (+12%)	11mo	$465,000	$310	67
195 Blossom Hill Rd #218	0.61mi	2/2.0	1,440 (+7%)	12mo	$200,000	$139	50

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 · 3.36% rent growth · sell at horizon

5-year hold

• IRR: -9.6%
• Equity multiple: 0.65×
• Total profit: $-34,610
• Equity at exit: $52,112

10-year hold

• IRR: 0.3%
• Equity multiple: 1.02×
• Total profit: $1,955
• Equity at exit: $30,218

Cash invested: $97,860 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City San Jose: 0 Strongly Tenant-Friendly · D+24

Apartment Rent Ordinance covers pre-1979 multifamily.

Methodology + full state rankings →

ZIP-level market 95136

• Rents YoY: 3.4%
• Active inventory: 91
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $3,469 high
• Mortgage (P&I): −$1,833
• Tax est. 1.5%: −$437 /mo · $5,242/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$728
• Net cashflow: $325

Break-even live

Break-even rent $3,057

Max offer price $349,500

Occupancy floor 86%

Sensitivity live

Price	-10% $567	-5% $446	+0% $325	+5% $204	+10% $84
Rent	-10% $51	-5% $188	+0% $325	+5% $462	+10% $599
Rate	-1.0pp $501	-0.5pp $414	base $325	+0.5pp $235	+1.0pp $142

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: $87,375
• Closing costs: $10,485
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
56 Cherry Crest Ln San Jose, CA	2.0	2.0	986	$3,200	$3.25	2d	1	0.22mi
5480 Lean Ave San Jose, CA	2.0	1.0	880	$2,910	$3.31	2d	3	0.52mi
5322 Wong Dr San Jose, CA	1.0–2.0	1.0–2.0	800	$3,217	$4.02	2d	3	0.81mi
5358 Borneo Cir San Jose, CA	3.0	2.0	1246	$3,440	$2.76	8d	1	0.89mi
282 Tradewinds Dr San Jose, CA	2.0	1.0	959	$3,100	$3.23	2d	1	0.91mi
5659 Lathrop Dr San Jose, CA	3.0	2.0	1543	$4,300	$2.79	2d	1	0.92mi
4501 Snell Ave San Jose, CA	1.0–2.0	1.0–2.0	903	$3,599	$3.99	2d	18	0.98mi
5683 Beswick Dr San Jose, CA	2.0	1.0	1100	$3,200	$2.91	4d	1	1.06mi
5590 Makati Cir San Jose, CA	2.0	2.0	1233	$3,395	$2.75	3d	1	1.14mi
5560 Lexington Ave San Jose, CA	2.0	1.0–2.0	846	$3,530	$4.17	2d	14	1.17mi
5491 Demerest Ln San Jose, CA	3.0	2.5	1335	$4,800	$3.60	2d	1	1.31mi
414 Colony Crest Dr San Jose, CA	3.0	1.5	1260	$4,750	$3.77	2d	1	1.36mi
5805 Charlotte Dr San Jose, CA	1.0–3.0	1.0–2.0	1050	$3,966	$3.78	2d	18	1.47mi
4300 The Woods Dr San Jose, CA	3.0	1.0–3.5	918	$3,484	$3.80	2d	1	1.48mi

Listing history 21 events

1. 2026-06-21
   days on market $349,500 Active 31 DOM
2. 2026-06-18
   days on market $349,500 Active 28 DOM
3. 2026-06-17
   days on market $349,500 Active 27 DOM
4. 2026-06-16
   days on market $349,500 Active 26 DOM
5. 2026-06-15
   days on market $349,500 Active 25 DOM
6. 2026-06-13
   days on market $349,500 Active 23 DOM
7. 2026-06-13
   days on market $349,500 Active 22 DOM
8. 2026-06-09
   days on market $349,500 Active 19 DOM
9. 2026-06-08
   days on market $349,500 Active 18 DOM
10. 2026-06-07
    days on market $349,500 Active 17 DOM
11. 2026-06-05
    days on market $349,500 Active 14 DOM
12. 2026-06-03
    days on market $349,500 Active 13 DOM
13. 2026-06-02
    days on market $349,500 Active 12 DOM
14. 2026-06-01
    days on market $349,500 Active 11 DOM
15. 2026-05-31
    days on market $349,500 Active 10 DOM
16. 2026-05-21
    price $349,500 802-char remark

    Show marketing remark (802 chars)

    Fully remodeled 2BD/2BA mobile home located in a desirable All-Ages Family Park! No property taxes! This move-in-ready home has been upgraded from top to bottom with a new comp roof, new windows, new electrical and new plumbing, fresh interior and exterior paint, remodeled bathrooms, and stylish new flooring throughout. The stunning new kitchen is a showstopper, featuring gorgeous new cabinetry, sleek stainless steel appliances, and a convenient breakfast bar that opens to the spacious living area. The bright open floor plan and generously sized rooms create the perfect blend of comfort, style, and functionality. Modern upgrades and designer touches shine throughout this beautifully updated home a must-see! Located in Rancho Santa Teresa Mobile Home Park. Close to parks, dining and shopping.

17. 2026-05-21
    listed $249,500 Active 802-char remark

    Show marketing remark (802 chars)

    Fully remodeled 2BD/2BA mobile home located in a desirable All-Ages Family Park! No property taxes! This move-in-ready home has been upgraded from top to bottom with a new comp roof, new windows, new electrical and new plumbing, fresh interior and exterior paint, remodeled bathrooms, and stylish new flooring throughout. The stunning new kitchen is a showstopper, featuring gorgeous new cabinetry, sleek stainless steel appliances, and a convenient breakfast bar that opens to the spacious living area. The bright open floor plan and generously sized rooms create the perfect blend of comfort, style, and functionality. Modern upgrades and designer touches shine throughout this beautifully updated home a must-see! Located in Rancho Santa Teresa Mobile Home Park. Close to parks, dining and shopping.

18. 2026-05-21
    listed $349,500 Active 802-char remark

    Show marketing remark (802 chars)

    Fully remodeled 2BD/2BA mobile home located in a desirable All-Ages Family Park! No property taxes! This move-in-ready home has been upgraded from top to bottom with a new comp roof, new windows, new electrical and new plumbing, fresh interior and exterior paint, remodeled bathrooms, and stylish new flooring throughout. The stunning new kitchen is a showstopper, featuring gorgeous new cabinetry, sleek stainless steel appliances, and a convenient breakfast bar that opens to the spacious living area. The bright open floor plan and generously sized rooms create the perfect blend of comfort, style, and functionality. Modern upgrades and designer touches shine throughout this beautifully updated home a must-see! Located in Rancho Santa Teresa Mobile Home Park. Close to parks, dining and shopping.

19. 1999-04-22
    historical 170-char remark

    Show marketing remark (170 chars)

    RENT WILL BE INCREASED TO 3% TO 501 GOOD UNTIL NOV 99 ONLY 3% PORTABLE DISHWASHER DBL DOOR REFRIG GAS SELF CLEANING OVEN REDWOOD DECK 2 FULL BATHS

20. 1999-03-05
    soldstatus $44,000 170-char remark

    Show marketing remark (170 chars)

    RENT WILL BE INCREASED TO 3% TO 501 GOOD UNTIL NOV 99 ONLY 3% PORTABLE DISHWASHER DBL DOOR REFRIG GAS SELF CLEANING OVEN REDWOOD DECK 2 FULL BATHS

21. 1999-01-07
    listed $49,950 170-char remark

    Show marketing remark (170 chars)

    RENT WILL BE INCREASED TO 3% TO 501 GOOD UNTIL NOV 99 ONLY 3% PORTABLE DISHWASHER DBL DOOR REFRIG GAS SELF CLEANING OVEN REDWOOD DECK 2 FULL BATHS

ⓘ 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 3/10 Moderate FEMA zone D · 16% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥95°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 19 unhealthy d/yr today · 19 by 30 yrs out

Taxation est. · year 1

• Rental income: $41,628
• − Mortgage interest: −$19,577
• − Property taxes: −$5,242
• − Insurance: −$1,748
• − Repairs & maintenance: −$3,330
• − Management: −$3,330
• − Depreciation: −$10,167
• Taxable loss: −$1,767
• Est. tax savings @ 24.0%: +$424
• After-tax cash flow: $4,326/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: Oak Grove Elementary
• NCES district ID: 0627810
• Math proficiency: 47% ▲ 1.00%
• Reading proficiency: 54% ▬ 0.00%
• Median HH income: $92,404
• Composite: 49.23/100
• National rank: #4382
• State rank: #339 of 1400 in CA

Livability — San Jose

• Score: 78/100
• State rank: #68
• US rank: #2559

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: San Jose, CA
• County: Santa Clara County · 1,806,974 people
• City population: 954,479
• Metro: San Jose-Sunnyvale-Santa Clara, CA
• Population (ZIP): 48,056
• Household income: $142,433
• Rent vs Own: 41.1% rent · 58.9% own
• Severe rent burden: 1653.0

Population outlook (Santa Clara County) Hauer SSP2

• Today (2025): 2,179,074 people
• By 2030: 2,301,297 · +5.6%
• By 2040: 2,528,195 · +16.0%
• By 2050: 2,712,135 · +24.5%
• By 2075: 2,998,701 · +37.6%
• By 2100: 2,931,429 · +34.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: Asian 36% White 29% Hispanic / Latino 26% Two or more races 15% Black 4%
• Hispanic origin (detail): Mexican 20%
• Common ancestry: Scotch-Irish 1% Lithuanian 1% Russian 1%
• Foreign-born: 38% · Vietnam, Canada, China
• Languages at home: 47% English-only · Spanish 16% Vietnamese 12% Other Indo-European 7%

Political lean MEDSL · Santa Clara

• 2024 margin: Solid D (+40.0) · D 68.1% · R 28.1% · Other 3.8%
• 2008→2024 swing: -0.9pp no change · 2008: 40.9pp · 2024: 40.0pp
• All cycles: 2024: D+40.0 2020: D+47.4 2016: D+52.5 2012: D+42.1 2008: D+40.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1427.80%
• Current HPI: 336.6634
• Rent YoY: ▲ 3.36%
• Metro: San Jose-Sunnyvale-Santa Clara, 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

+599.7% since first listed

6 events — show timeline

• 2026-05-21 Price Changed $349,500 MLSListings
• 2026-05-21 Listed $249,500 MLSListings
• 2026-05-21 Listed $349,500 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 1999-04-22 Listing Removed — MLSListings
• 1999-03-05 Sold (MLS) $44,000 MLSListings
• 1999-01-07 Listed $49,950 MLSListings