Listing Agency: Bobbie Herteman Real Estate

Listed By: Bobbie J. Herteman Show Phone

Source: Exprealty

Added: Apr 4 Changed: Sep 9 Last Checked: Sep 17 at 5:37AM

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Investment Insights

Based on property information with market context.

This two-bedroom, one-bath mobile home offers 500 square feet of living space with practical built-ins and ample storage. The kitchen is light and bright with newer appliances, a deep sink, and plenty of storage. A vaulted living room ceiling and lots of windows help bring in natural light.

The community includes a convenient laundry facility on site for residents. Park rules state there are 2 residents per home and 1 dog/cat. The park is described as quiet and peaceful, with river access for residents to enjoy from the deck.

Set up for comfortable everyday living, the home’s interior features and the park’s resident amenities support a low-maintenance lifestyle.

Key Highlights

• Two‑bedroom, one‑bath mobile home with 500 square feet of living space
• Vaulted ceilings and lots of windows in the living room for natural light
• Kitchen includes newer appliances plus a deep sink and plenty of storage

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$12,870

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

6.44%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$257,400 $257.4K

Cap Rate 7%

$183,857 $183.9K

Cap Rate 9%

$143,000 $143.0K

Market Conditions

NOI Build-Up for 500 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$24.0K $48.00/SF

− Vacancy

−$600 −$1.20/SF

EGI

$23.4K $46.80/SF

− OpEx

−$10.5K −$21.06/SF

NOI

$12.9K $25.74/SF

Area

Santa Cruz County, CA

Vacancy

2.50%

Lease Rate

$48.00 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$257,400

Cap Rate 7%

$183,857

Cap Rate 9%

$143,000

Alternative Uses

Best Use

Apartment 5plus

$183.9K

$160.9K – $214.5K (±1% cap)

NOI $12,870 @ 7.0% cap · market cap 6.44%

Second Best

—

—

no second resolved use

Theoretical Best

Retail

$285.9K

$250.2K – $333.6K (±1% cap)

NOI $20,013 @ 7.0% cap · market cap 10.01%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Mobile home & RV ...

Suggested Use

Top Pick Real Estate Agency Law Firm Parking Lot & Garage HVAC Service Electrical Service Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

229

Businesses Nearby

Explore this area Business Placement

Demographics for 95005, CA

6,551

Population

2,892

Households

2.3

Avg Household Size

46

Median Age

46%

College-Educated

97%

High-School Grad

11.8 sq mi

ZIP Area

555

Density / Sq Mi

$107,857

Median Household Income

$70,932

Median Earnings

$2,358

Median Rent

$959,100

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mobile home & rv parks located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Mobile home & RV park - Two-bedroom, one-bath mobile home in an RV park with on-site laundry and river access.

Where is this mobile home & rv park located?

The property is located at 10-265 Brown Gables Rd Ben Lomond, CA.

What is the asking price?

The asking price for this property is $200,000.

What are key features of this property?

This property features: Two‑bedroom, one‑bath mobile home with 500 square feet of living space; Vaulted ceilings and lots of windows in the living room for natural light; Kitchen includes newer appliances plus a deep sink and plenty of storage