Move-In Ready Mobile Home in 55+
For Sale
$319,999
60 Wilson Way 31, Milpitas, CA 95035
Freshly painted mobile home with skylight and carport for up to three small cars in a 55+ community.
Property Size901 SF
Days on Market51
Property Features for 60 Wilson Way 31
General Information
Standard status
Active
Size
901 SF
Property subtype
Commercial
Building Details
Building Size
901 SF
Year Built
1971
Listed By:
Tam Luu
(408) 838-2679
Source:
Elliman
Added: Jul 17
Changed: Sep 2
Last Checked: Sep 5 at 11:56AM
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 Tam Luu
Investment Insights
Based on property information with market context.
Welcome to 60 Wilson Way #31 in Pioneer Home Park, a 55+ senior community. This move-in ready home has been freshly painted throughout and includes a skylight positioned between the kitchen and living room for added natural light. The interior layout is designed for comfortable day-to-day living, with outdoor space featuring mature fruit trees including persimmon, apple, jujube, and pomegranate, along with room to grow flowers, herbs, or vegetables.
The property includes a spacious carport that can accommodate up to three small cars. Pioneer Home Park requires at least one resident to be 55 years of age or older, and the space rent is listed at $555 per month. The home is also described as being conveniently located near shopping, dining, and major commute routes.
Buyer to perform their own due diligence and independently verify all information related to the property, including square footage, lot size, permits, property condition, and any other matters important to the buyer.
The property includes a spacious carport that can accommodate up to three small cars. Pioneer Home Park requires at least one resident to be 55 years of age or older, and the space rent is listed at $555 per month. The home is also described as being conveniently located near shopping, dining, and major commute routes.
Buyer to perform their own due diligence and independently verify all information related to the property, including square footage, lot size, permits, property condition, and any other matters important to the buyer.
Key Highlights
- 1971 home in Pioneer Home Park, a 55+ senior community in Milpitas
- Freshly painted interior and a skylight between the kitchen and living room for added natural light
- Spacious carport with space to fit up to 3 small cars
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
$17,126
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
5.35%
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%
$342,520
$342.5K
Cap Rate 7%
$244,657
$244.7K
Cap Rate 9%
$190,289
$190.3K
Market Conditions
NOI Build-Up for 901 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
$32.4K $36.00/SF
− Vacancy
−$1.3K −$1.44/SF
EGI
$31.1K $34.56/SF
− OpEx
−$14.0K −$15.55/SF
NOI
$17.1K $19.01/SF
Area
Santa Clara County, CA
Vacancy
4.00%
Lease Rate
$36.00 /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%
$342,520
Cap Rate 7%
$244,657
Cap Rate 9%
$190,289
Alternative Uses
Best Use
Apartment 5plus
$244.7K
$214.1K – $285.4K
NOI $17,126 @ 7.0% cap · market cap 5.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$543.9K
$476.0K – $634.6K
NOI $38,076 @ 7.0% cap · market cap 11.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
802
Businesses Nearby
Explore this area
Business Placement
Demographics for 95035, CA
80,440
Population
25,851
Households
3.1
Avg Household Size
37
Median Age
59%
College-Educated
90%
High-School Grad
22.4 sq mi
ZIP Area
3,591
Density / Sq Mi
$176,723
Median Household Income
$81,070
Median Earnings
$3,110
Median Rent
$1,180,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mobile home & RV park - Freshly painted mobile home with skylight and carport for up to three small cars in a 55+ community.
Where is this mobile home & rv park located?
The property is located at 60 Wilson Way 31 Milpitas, CA.
What is the asking price?
The asking price for this property is $319,999.
What are key features of this property?
This property features: 1971 home in Pioneer Home Park, a 55+ senior community in Milpitas; Freshly painted interior and a skylight between the kitchen and living room for added natural light; Spacious carport with space to fit up to 3 small cars
