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    Bay Pine Mobile Home Title is generated by Realmo AI

    1537 White Pine Drive #48, Morro Bay, CA 93442

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    For Sale
    $389,500

    Relaxing retreat in a peaceful 55+ community.

    Type:Manufactured Home
    Added:
    Oct 1, 2025
    Days on Market:
    235
    Last Refresh:
    May 19 at 10:30 pm

    Property Features for 1537 White Pine Drive #48

    General Information

    Standard status
    Active
    Property subtype
    Manufactured Home

    Building Details

    Year Built
    2004

    We can help!

    Listing Contact
    Zee Stowe

    Listing agent Zee Stowe

    Listing office Miramar Realty

    Listing date Oct 1, 2025

    Source Kw

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Miramar Realty

    HighLights

    • Located in a desirable 55+ community: Bay Pine Mobile Home.
    • Newly remodeled kitchen with new appliances and additional pantry.
    • Newer roof (replaced in 2023) and exterior paint.
    • Spacious living area with newer flooring.
    • Premier location: minutes from Morro Bay waterfront, dining, Montana de Oro State Park, and a golf course.
    • Main bath features a separate soaking tub and shower.

    Overview

    Located in the sought-after Bay Pine Mobile Home community, this property offers a relaxing retreat in a peaceful, friendly 55+ setting. The spacious living area features large windows and newer flooring that extends into the dining room, kitchen, and hall. The newly remodeled kitchen is bathed in natural light and includes new appliances and an additional pantry with pull-out drawers. The main suite is spacious and has newer carpet, while the main bath offers a separate soaking tub and shower. There are two additional bedrooms and indoor laundry with access to the carport. A newer roof was installed in 2023, and the exterior has been painted. A large shed with an inviting deck area is perfect for enjoying the coastal weather. The property is situated minutes from the Morro Bay waterfront, dining options, Montana de Oro State Park, and a golf course, offering convenient access to outdoor adventures.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mobile home & RV ...

    Suggested Use

    Law Firm Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy Big Box & Wholesale Store Department Store Bar & Pub

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Morro Bay
    County
    San Luis Obispo
    State
    California
    Longitude
    -120.799
    Latitude
    35.4012

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    FAQs

    What type of property is this?
    Mobile home & RV park - Relaxing retreat in a peaceful 55+ community.
    Where is this mobile home & rv park located?
    The property is located at 1537 White Pine Drive #48 Morro Bay, CA.
    What is the asking price?
    The asking price for this property is $389,500.
    What are key features of this property?
    This property features: Located in a desirable 55+ community: Bay Pine Mobile Home.; **Newly remodeled kitchen** with new appliances and additional pantry.; Newer roof (replaced in 2023) and exterior paint.
    (661) 301-6728
    We can help!
    Listing Contact
    Zee Stowe
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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