3395 S Higuera, Unit 8 · San Luis Obispo, CA 93401

$375,000

2 bd · 2.0 ba · 1,385 sqft · Manufactured public records · 148 Days on market

Built 2001 Est $255k · 47% over ↓ 3% since listing

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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 +25.6/30.0
• DSCR +8.5/10.0
• 1% rule +5.4/10.0
• 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

Attention Seniors! Take time to live the way you'd like and wake up with a smile in beautiful San Luis Obispo. If you value quality, comfort, and interesting design features, you will love this modern house! It can be your personal vacation getaway or your primary residence. Located in a choice setting on a cul-de-sac, built in 2001, this well-maintained, spacious, light and bright double-wide manufactured home has three bedrooms, two bathrooms, a dining room, laundry room and plenty of storage. Clerestory windows add sophistication and natural light in the living room area. The main bedroom is quite generously sized with vaulted ceilings and its own walk-in closet; the attached bathroom has a deep soaking tub, walk-in shower, plus two separate sink cabinets for abundant counter surface. Three bedrooms allow extra room for a library, study, craft room, or anything you can imagine. The kitchen is a delight for the chef who needs ample cabinet and counter space. Upgraded appliances include a stainless French door refrigerator and convection/air fry specialty options for the oven. Enjoy the roomy formal dining room for social events and any special entertaining. High-end washer and dryer are included in the large laundry room. For the gardener, a secluded, easily maintained side yard garden area is your own special oasis. This home has a very warm heart and is sure to please. Start your “someday” dreams today! Rancho San Luis Mobile Home Park is a highly desirable 55+ community with a seasonal pool and hot tub, a community clubhouse with kitchen and library, plus RV parking, and more. It’s just minutes to downtown, the coastal beaches, close to transportation, shopping, and the airport. Pets allowed; restrictions apply. New rent is $964.35 and includes water, sewer, and garbage. Information not verified.

Key facts

• Walk-in closet
• Clerestory windows
• Ample cabinet space

Tags

• CUL-DE-SAC
• CLERESTORY WINDOWS
• WALK-IN CLOSET
• DEEP SOAKING TUB
• AMPLE CABINET SPACE
• SECLUDED SIDE YARD GARDEN

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $375k.

Deal economics

• At list price, monthly cash flow is $892 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $375k).
• Recommended offer: $330k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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.
• Market conditions: Rents rising fast (+4.4%/yr); 143 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,104 units permitted in San Luis Obispo County in 2024 (273 in 5+ unit buildings).
• At $3,899/mo this rent would consume 48% of the median local household income ($97k/yr) (locally 2050% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k 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 $105k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 148 days — a 12% lower offer ($330k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major flood risk; major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $330,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 148 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.04% ✓
• Cap rate: 9.15%
• Cash-on-cash: 10.20%
• DSCR: 1.45
• GRM: 8.0

CMA / ARV

• ARV (median comp): $255,159
• List price: $375,000
• Delta: 46.97%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3057 S Higuera St #43	0.28mi	2/2.0	1,356 (-2%)	16mo	$260,000	$192	70
3860 S Higuera St #131	0.58mi	2/2.0	1,392 (+0%)	6mo	$280,000	$201	67
3057 S Higuera St #190	0.36mi	2/2.0	1,440 (+4%)	12mo	$330,000	$229	66
3395 S Higuera St S #11	0.01mi	3/2.0 (+1)	1,560 (+13%)	9mo	$425,000	$272	66
3057 S Higuera St #73	0.25mi	2/2.0	1,536 (+11%)	8mo	$430,000	$280	63
3057 S Higuera St #171	0.35mi	3/2.0 (+1)	1,440 (+4%)	13mo	$225,000	$156	61
3057 S Higuera St #28	0.29mi	2/2.0	1,488 (+7%)	17mo	$422,000	$284	60
3057 S Higuera St #90	0.26mi	3/2.0 (+1)	1,564 (+13%)	8mo	$438,000	$280	55
3860 S Higuera St #217	0.55mi	2/2.0	1,200 (-13%)	1mo	$290,000	$242	52
3860 S Higuera St #194	0.58mi	3/2.0 (+1)	1,352 (-2%)	16mo	$280,000	$207	51
3960 Higuera S #158	0.69mi	3/2.0 (+1)	1,560 (+13%)	8mo	$520,000	$333	36
3960 S Higuera St #196	0.69mi	2/2.0	1,200 (-13%)	15mo	$234,000	$195	34

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: 0.4%
• Equity multiple: 1.01×
• Total profit: $1,477
• Equity at exit: $55,914

10-year hold

• IRR: 11.2%
• Equity multiple: 1.93×
• Total profit: $97,378
• Equity at exit: $32,423

Cash invested: $105,000 (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: 143
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $3,899 high
• Mortgage (P&I): −$1,967
• Tax from tax record: −$66 /mo · $787/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$819
• Net cashflow: $892

Break-even live

Break-even rent $2,770

Max offer price $375,000

Occupancy floor 72%

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3070 Lucca Ln San Luis Obispo, CA	3.0	3.0	1740	$5,000	$2.87	21d	1	0.35mi
825 Madonna Rd San Luis Obispo, CA	2.0	2.0	949	$3,000	$3.16	43d	1	0.90mi
905 Madonna Rd San Luis Obispo, CA	3.0	3.0–3.5	1459	$4,825	$3.31	13d	2	0.91mi
915 Madonna Rd #102 San Luis Obispo, CA	3.0	2.0	1141	$1,685	$1.48	43d	1	0.93mi
925 Madonna Rd #302 San Luis Obispo, CA	3.0	2.0	1075	$3,500	$3.26	21d	1	0.94mi
3335 Broad St #18 San Luis Obispo, CA	2.0	1.5	1190	$2,900	$2.44	13d	1	1.05mi
3219 Fennel Ln #105 San Luis Obispo, CA	3.0	4.0	1873	$1,450	$0.77	43d	1	1.21mi
1704 Tonini Dr San Luis Obispo, CA	1.0–2.0	1.0–2.5	985	$3,445	$3.50	13d	3	1.38mi

Listing history 15 events

1. 2026-06-16
   days on market $375,000 Active 148 DOM
2. 2026-06-15
   days on market $375,000 Active 147 DOM
3. 2026-06-14
   days on market $375,000 Active 145 DOM
4. 2026-06-13
   days on market $375,000 Active 144 DOM
5. 2026-06-10
   days on market $375,000 Active 142 DOM
6. 2026-06-09
   days on market $375,000 Active 141 DOM
7. 2026-06-08
   days on market $375,000 Active 140 DOM
8. 2026-06-07
   days on market $375,000 Active 139 DOM
9. 2026-06-03
   days on market $375,000 Active 135 DOM
10. 2026-06-02
    days on market $375,000 Active 134 DOM
11. 2026-06-01
    days on market $375,000 Active 133 DOM
12. 2026-05-31
    days on market $375,000 Active 132 DOM
13. 2026-05-30
    days on market $375,000 Active 131 DOM
14. 2026-04-06
    price $375,000 1850-char remark

    Show marketing remark (1850 chars)

    Attention Seniors! Take time to live the way you'd like and wake up with a smile in beautiful San Luis Obispo. If you value quality, comfort, and interesting design features, you will love this modern house! It can be your personal vacation getaway or your primary residence. Located in a choice setting on a cul-de-sac, built in 2001, this well-maintained, spacious, light and bright double-wide manufactured home has three bedrooms, two bathrooms, a dining room, laundry room and plenty of storage. Clerestory windows add sophistication and natural light in the living room area. The main bedroom is quite generously sized with vaulted ceilings and its own walk-in closet; the attached bathroom has a deep soaking tub, walk-in shower, plus two separate sink cabinets for abundant counter surface. Three bedrooms allow extra room for a library, study, craft room, or anything you can imagine. The kitchen is a delight for the chef who needs ample cabinet and counter space. Upgraded appliances include a stainless French door refrigerator and convection/air fry specialty options for the oven. Enjoy the roomy formal dining room for social events and any special entertaining. High-end washer and dryer are included in the large laundry room. For the gardener, a secluded, easily maintained side yard garden area is your own special oasis. This home has a very warm heart and is sure to please. Start your “someday” dreams today! Rancho San Luis Mobile Home Park is a highly desirable 55+ community with a seasonal pool and hot tub, a community clubhouse with kitchen and library, plus RV parking, and more. It’s just minutes to downtown, the coastal beaches, close to transportation, shopping, and the airport. Pets allowed; restrictions apply. New rent is $964.35 and includes water, sewer, and garbage. Information not verified.

15. 2026-01-19
    listed $385,000 Active 1850-char remark

    Show marketing remark (1850 chars)

    Attention Seniors! Take time to live the way you'd like and wake up with a smile in beautiful San Luis Obispo. If you value quality, comfort, and interesting design features, you will love this modern house! It can be your personal vacation getaway or your primary residence. Located in a choice setting on a cul-de-sac, built in 2001, this well-maintained, spacious, light and bright double-wide manufactured home has three bedrooms, two bathrooms, a dining room, laundry room and plenty of storage. Clerestory windows add sophistication and natural light in the living room area. The main bedroom is quite generously sized with vaulted ceilings and its own walk-in closet; the attached bathroom has a deep soaking tub, walk-in shower, plus two separate sink cabinets for abundant counter surface. Three bedrooms allow extra room for a library, study, craft room, or anything you can imagine. The kitchen is a delight for the chef who needs ample cabinet and counter space. Upgraded appliances include a stainless French door refrigerator and convection/air fry specialty options for the oven. Enjoy the roomy formal dining room for social events and any special entertaining. High-end washer and dryer are included in the large laundry room. For the gardener, a secluded, easily maintained side yard garden area is your own special oasis. This home has a very warm heart and is sure to please. Start your “someday” dreams today! Rancho San Luis Mobile Home Park is a highly desirable 55+ community with a seasonal pool and hot tub, a community clubhouse with kitchen and library, plus RV parking, and more. It’s just minutes to downtown, the coastal beaches, close to transportation, shopping, and the airport. Pets allowed; restrictions apply. New rent is $964.35 and includes water, sewer, and garbage. Information not verified.

ⓘ 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: $787 · $66/mo
• Projected year-2 tax: $2,850 · $238/mo
• Expected delta: +$2,063/yr (+$172/mo · 262.2%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 68% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 4/10 Moderate 4 d/yr ≥82°F today · 10 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: $46,793
• − Mortgage interest: −$21,006
• − Property taxes: −$787
• − Insurance: −$1,875
• − Repairs & maintenance: −$3,743
• − Management: −$3,743
• − Depreciation: −$10,909
• Taxable income: $4,729
• Est. tax owed @ 24.0%: −$1,135
• After-tax cash flow: $9,571/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

-2.6% since first listed

2 events — show timeline

• 2026-04-06 Price Changed $375,000 CRMLS
• 2026-01-19 Listed $385,000 CRMLS

Property tax history

+1.9%/yr

Latest (2025): $787 · -0.3% YoY. Source: county tax records.