Residential Income Property with New
For Sale
$160,000
61-1184 N Main St, Fort Bragg, CA 95437
Manufactured home in Ocean Lake park near Pudding Creek beach, downtown Fort Bragg, shops, and restaurants.
Property Size1,200 SF
Price / SF$133.33
Days on Market308
Property Features for 61-1184 N Main St
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Manufactured In Park
Additional Details
Multifamily Units
1
Building Details
Construction
manufactured home
Listing Agency:
Century 21 Fort Bragg Realty
(707) 813-7673
Listed By:
Justin May · License #02253079
(707) 813-7673
Source:
Exprealty
Added: Oct 7, 2025
Changed: Aug 9
Last Checked: Aug 10 at 8:15AM
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 Century 21 Fort Bragg Realty
Investment Insights
Based on property information with market context.
This 1,200-square-foot manufactured home is located in Ocean Lake park and features a recently redone roof. The residence sits across the street from Pudding Creek beach, providing direct proximity to the coastline and sandy beach access.
Downtown Fort Bragg, local shops, and restaurants are described as minutes away, placing everyday services and dining within convenient reach. The property is located at 61-1184 N Main St.
Downtown Fort Bragg, local shops, and restaurants are described as minutes away, placing everyday services and dining within convenient reach. The property is located at 61-1184 N Main St.
Key Highlights
- 1,200‑square‑foot manufactured home
- Recently redone roof
- Located in Ocean Lake park
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
$10,211
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
6.38%
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%
$204,220
$204.2K
Cap Rate 7%
$145,871
$145.9K
Cap Rate 9%
$113,456
$113.5K
Market Conditions
NOI Build-Up for 1,200 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
$19.4K $16.20/SF
− Vacancy
−$875 −$0.73/SF
EGI
$18.6K $15.47/SF
− OpEx
−$8.4K −$6.96/SF
NOI
$10.2K $8.51/SF
Area
Mendocino County, CA
Vacancy
4.50%
Lease Rate
$16.20 /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%
$204,220
Cap Rate 7%
$145,871
Cap Rate 9%
$113,456
Alternative Uses
Best Use
Apartment 5plus
$145.9K
$127.6K – $170.2K
NOI $10,211 @ 7.0% cap · market cap 6.38%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$448.6K
$392.6K – $523.4K
NOI $31,405 @ 7.0% cap · market cap 19.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
770
Businesses Nearby
Explore this area
Business Placement
Demographics for 95437, CA
14,608
Population
7,654
Households
1.9
Avg Household Size
48
Median Age
26%
College-Educated
86%
High-School Grad
177.4 sq mi
ZIP Area
82
Density / Sq Mi
$55,061
Median Household Income
$35,860
Median Earnings
$1,367
Median Rent
$541,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Manufactured home in Ocean Lake park near Pudding Creek beach, downtown Fort Bragg, shops, and restaurants.
Where is this residential income property located?
The property is located at 61-1184 N Main St Fort Bragg, CA.
What is the asking price?
The asking price for this property is $160,000.
What are key features of this property?
This property features: 1,200‑square‑foot manufactured home; Recently redone roof; Located in Ocean Lake park
