21500 Lassen #180 · Los Angeles, CA 91311

$279,000

3 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 153 Days on market

Built 2007 Good condition $208/sqft · 41% above area Est $198k · 41% over

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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 +28.5/30.0
• DSCR +10.0/10.0
• 1% rule +6.5/10.0
• Condition / age +4.0/5.0
• Schools +3.6/10.0
• Rent growth +3.4/5.0
• Livability +3.4/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover comfort, space, and convenience in this beautifully maintained 3 bedroom, 2 bathroom manufactured home offering 1,344 sq ft of inviting living space. Built in 2007, this home features energy efficient dual pane window, a freshly painted interior and a redone front patio, giving it a clean and welcoming feel from the moment you step inside. Land lease will be only 1,170.31 per month! The thoughtfully designed layout includes a large primary suite with a walk in closet and a soaking tub, perfect for relaxing at the end of the day. You’ll also find washer and dryer hookups inside the home, along with the added convenience of being just across from the community laundry building. Outside, enjoy a private, fenced yard, an ideal space for pets, play, or outdoor entertaining. Located in a great community, residents also enjoy access to a sparkling pool and a community center. If you’ve been looking for comfort, value, and a place to truly make your own, this is it!

Key facts

• Redone front patio
• Soaking tub
• Private fenced yard

Tags

• FRESHLY PAINTED INTERIOR
• REDONE FRONT PATIO
• WALK IN CLOSET
• SOAKING TUB
• WASHER AND DRYER HOOKUPS
• PRIVATE FENCED YARD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $279k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $908 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $279k).
• Recommended offer: $246k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 2.1% in Los Angeles — 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 68/100 on livability (#273 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment B; Watch: health & safety C-, schools D+, crime F.
• Los Angeles Unified (urban): math 29% / reading 54% proficiency, ranked #223 of 517 in CA (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.4%/yr); 192 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• This rent runs 32% of the median local income ($119k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.4% rent growth), your $78k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 153 days — a 12% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $16k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $182k; list at $279k implies a 53% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $245,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 153 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.15% ✓
• Cap rate: 10.20%
• Cash-on-cash: 13.96%
• DSCR: 1.62
• GRM: 7.2

CMA / ARV

• ARV (median comp): $197,500
• List price: $279,000
• Delta: 41.27%
• Verdict: OVERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21500 Lassen St #37	0.00mi	3/2.0	1,344 (0%)	10mo	$275,000	$205	92
21001 Plummer St #106	0.37mi	2/2.0 (-1)	1,344 (0%)	5mo	$195,000	$145	74
21001 Plummer St #107	0.37mi	3/2.0	1,440 (+7%)	3mo	$195,000	$135	68
21001 Plummer St #116	0.37mi	2/2.0 (-1)	1,440 (+7%)	6mo	$153,000	$106	61
21500 Lassen St #170	0.18mi	2/2.0 (-1)	1,440 (+7%)	21mo	$280,000	$194	58
11401 Topanga #73	0.62mi	3/2.0	1,265 (-6%)	6mo	$229,000	$181	56
21001 Plummer St #88	0.41mi	2/2.0 (-1)	1,440 (+7%)	12mo	$223,000	$155	54

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 · 3.41% rent growth · sell at horizon

5-year hold

• IRR: 4.6%
• Equity multiple: 1.18×
• Total profit: $13,852
• Equity at exit: $41,600

10-year hold

• IRR: 14.3%
• Equity multiple: 2.17×
• Total profit: $91,544
• Equity at exit: $24,123

Cash invested: $78,120 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City Los Angeles: 0 Strongly Tenant-Friendly · D+22

LARSO + JCEO 2023; relocation for substantial remodel evictions.

Methodology + full state rankings →

ZIP-level market 91311

• Rents YoY: 3.4%
• Active inventory: 192
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $3,217 high
• Mortgage (P&I): −$1,463
• Tax from tax record: −$54 /mo · $643/yr
• Insurance: −$116
• HOA: −$0
• Vacancy / Maint / Mgmt: −$676
• Net cashflow: $908

Break-even live

Break-even rent $2,067

Max offer price $279,000

Occupancy floor 67%

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: $69,750
• Closing costs: $8,370
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21700 Septo St Chatsworth, CA	2.0	2.0	1200	$2,545	$2.12	15d	4	0.44mi
21700 Septo St Unit D207 Chatsworth, CA	2.0	2.0	1200	$2,595	$2.16	17d	1	0.44mi
21700 Septo St Unit D108 Chatsworth, CA	2.0	2.0	1200	$2,495	$2.08	43d	1	0.44mi
9901 Independence Ave Unit D Chatsworth, CA	2.0	2.0	1096	$3,400	$3.10	43d	1	0.45mi
9950 California 27 Unit 26 Chatsworth, CA	3.0	2.5	1474	$3,550	$2.41	43d	1	0.57mi
9950 California 27 Unit 26 Chatsworth, CA	3.0	2.5	1474	$3,550	$2.41	19d	1	0.57mi
9920 De Soto Ave Chatsworth, CA	2.0	1.0	898	$2,295	$2.56	24d	3	0.59mi
9733 Topanga Canyon Blvd Chatsworth, CA	2.0–3.0	2.0	1204	$3,995	$3.32	2d	4	0.61mi
10201 Remmet Ave Chatsworth, CA	2.0	2.0	1005	$2,395	$2.38	24d	1	0.69mi
10201 Remmet Ave Unit 203 Chatsworth, CA	2.0	2.0	1005	$2,395	$2.38	22d	1	0.69mi
10216 Eton Ave Unit 110 Chatsworth, CA	2.0	2.5	1120	$2,898	$2.59	24d	1	0.70mi
10215 Variel Ave #26 Chatsworth, CA	4.0	3.5	1700	$3,835	$2.26	43d	1	0.71mi
10247 Variel Ave Chatsworth, CA	2.0	2.0	876	$2,725	$3.11	3d	2	0.76mi
10231 Independence Ave Unit C12 Chatsworth, CA	3.0	3.0	1710	$3,600	$2.11	43d	1	0.78mi
10214 Independence Ave Chatsworth, CA	3.0	2.5	1850	$3,450	$1.86	43d	1	0.78mi
9101 Topanga Canyon Blvd Chatsworth, CA	2.0	2.0	1022	$2,620	$2.56	7d	1	0.81mi
10200 De Soto Ave Chatsworth, CA	1.0–2.0	1.0–2.0	925	$2,400	$2.59	15d	4	0.88mi
10230 Brooke Ave Chatsworth, CA	4.0	3.0	1650	$4,200	$2.55	43d	1	0.90mi
8865 Independence Ave #26 Canoga Park, CA	3.0	2.5	1651	$3,595	$2.18	43d	1	1.04mi
20431 Lassen St Chatsworth, CA	3.0	2.0	1272	$4,000	$3.14	19d	1	1.12mi
10537 Variel Ave Chatsworth, CA	2.0	2.0	900	$2,995	$3.33	2d	1	1.12mi
10201 Mason Ave #101 Chatsworth, CA	2.0	2.5	1520	$3,250	$2.14	43d	1	1.13mi
10201 Mason Ave #50 Chatsworth, CA	3.0	3.0	1623	$3,895	$2.40	5d	1	1.13mi
10533 Hillview Ave Chatsworth, CA	4.0	2.0	1439	$4,300	$2.99	43d	1	1.14mi
10227 Mason Ave Chatsworth, CA	3.0	2.0	1060	$3,195	$3.01	7d	1	1.17mi
8750 Topanga Canyon Blvd Unit 6 Canoga Park, CA	2.0	2.0	900	$2,195	$2.44	17d	1	1.17mi
8761 De Soto Ave Canoga Park, CA	1.0–3.0	1.5–2.5	1025	$3,387	$3.30	2d	8	1.20mi
8719 Variel Ave Canoga Park, CA	1.0–3.0	1.0–2.0	948	$3,176	$3.35	7d	3	1.23mi
21031 Parthenia St Canoga Park, CA	1.0–2.0	1.0–2.0	905	$2,584	$2.86	2d	9	1.24mi
21350 Parthenia St Unit 108 Canoga Park, CA	2.0	2.0	1000	$2,495	$2.50	16d	1	1.25mi
8710 Independence Ave #301 Canoga Park, CA	2.0	2.0	1134	$2,250	$1.98	24d	1	1.25mi
21420 Chatsworth St Chatsworth, CA	2.0	1.0	1040	$3,750	$3.61	7d	1	1.26mi
21040 Parthenia St #29 Canoga Park, CA	2.0	2.5	1065	$2,700	$2.54	43d	1	1.28mi
20909 Parthenia St Canoga Park, CA	1.0–2.0	1.0–1.5	745	$2,438	$3.27	1d	6	1.28mi
8700 De Soto Ave Canoga Park, CA	1.0–2.0	1.0–2.0	775	$2,695	$3.48	1d	2	1.29mi
21731 Bryant St Canoga Park, CA	3.0	2.0	1400	$4,150	$2.96	12d	1	1.31mi
8601 International Ave Canoga Park, CA	2.0–3.0	2.0	980	$2,950	$3.01	24d	2	1.31mi
8600 International Ave Canoga Park, CA	4.0	2.0	1450	$3,290	$2.27	1d	3	1.34mi
22210 James Alan Cir #8 Chatsworth, CA	3.0	2.5	1747	$3,850	$2.20	12d	1	1.35mi
20221 Halsted St Chatsworth, CA	3.0	2.0	1368	$3,850	$2.81	44d	1	1.35mi

Listing history 24 events

1. 2026-06-18
   days on market $279,000 Active 153 DOM
2. 2026-06-17
   days on market $279,000 Active 152 DOM
3. 2026-06-16
   days on market $279,000 Active 151 DOM
4. 2026-06-15
   days on market $279,000 Active 150 DOM
5. 2026-06-13
   days on market $279,000 Active 148 DOM
6. 2026-06-09
   days on market $279,000 Active 144 DOM
7. 2026-06-08
   days on market $279,000 Active 143 DOM
8. 2026-06-07
   days on market $279,000 Active 142 DOM
9. 2026-06-04
   days on market $279,000 Active 139 DOM
10. 2026-06-03
    days on market $279,000 Active 138 DOM
11. 2026-06-02
    days on market $279,000 Active 137 DOM
12. 2026-06-01
    days on market $279,000 Active 136 DOM
13. 2026-05-31
    days on market $279,000 Active 135 DOM
14. 2026-05-19
    status Pending Sale 1000-char remark

    Show marketing remark (1000 chars)

    Discover comfort, space, and convenience in this beautifully maintained 3 bedroom, 2 bathroom manufactured home offering 1,344 sq ft of inviting living space. Built in 2007, this home features energy efficient dual pane window, a freshly painted interior and a redone front patio, giving it a clean and welcoming feel from the moment you step inside. Land lease will be only 1,170.31 per month! The thoughtfully designed layout includes a large primary suite with a walk in closet and a soaking tub, perfect for relaxing at the end of the day. You’ll also find washer and dryer hookups inside the home, along with the added convenience of being just across from the community laundry building. Outside, enjoy a private, fenced yard, an ideal space for pets, play, or outdoor entertaining. Located in a great community, residents also enjoy access to a sparkling pool and a community center. If you’ve been looking for comfort, value, and a place to truly make your own, this is it!

15. 2026-05-12
    historical Active Under Contract 1000-char remark

    Show marketing remark (1000 chars)

    Discover comfort, space, and convenience in this beautifully maintained 3 bedroom, 2 bathroom manufactured home offering 1,344 sq ft of inviting living space. Built in 2007, this home features energy efficient dual pane window, a freshly painted interior and a redone front patio, giving it a clean and welcoming feel from the moment you step inside. Land lease will be only 1,170.31 per month! The thoughtfully designed layout includes a large primary suite with a walk in closet and a soaking tub, perfect for relaxing at the end of the day. You’ll also find washer and dryer hookups inside the home, along with the added convenience of being just across from the community laundry building. Outside, enjoy a private, fenced yard, an ideal space for pets, play, or outdoor entertaining. Located in a great community, residents also enjoy access to a sparkling pool and a community center. If you’ve been looking for comfort, value, and a place to truly make your own, this is it!

16. 2026-02-12
    price $279,000 1000-char remark

    Show marketing remark (1000 chars)

    Discover comfort, space, and convenience in this beautifully maintained 3 bedroom, 2 bathroom manufactured home offering 1,344 sq ft of inviting living space. Built in 2007, this home features energy efficient dual pane window, a freshly painted interior and a redone front patio, giving it a clean and welcoming feel from the moment you step inside. Land lease will be only 1,170.31 per month! The thoughtfully designed layout includes a large primary suite with a walk in closet and a soaking tub, perfect for relaxing at the end of the day. You’ll also find washer and dryer hookups inside the home, along with the added convenience of being just across from the community laundry building. Outside, enjoy a private, fenced yard, an ideal space for pets, play, or outdoor entertaining. Located in a great community, residents also enjoy access to a sparkling pool and a community center. If you’ve been looking for comfort, value, and a place to truly make your own, this is it!

17. 2026-01-08
    listed $295,000 Active 1000-char remark

    Show marketing remark (1000 chars)

    Discover comfort, space, and convenience in this beautifully maintained 3 bedroom, 2 bathroom manufactured home offering 1,344 sq ft of inviting living space. Built in 2007, this home features energy efficient dual pane window, a freshly painted interior and a redone front patio, giving it a clean and welcoming feel from the moment you step inside. Land lease will be only 1,170.31 per month! The thoughtfully designed layout includes a large primary suite with a walk in closet and a soaking tub, perfect for relaxing at the end of the day. You’ll also find washer and dryer hookups inside the home, along with the added convenience of being just across from the community laundry building. Outside, enjoy a private, fenced yard, an ideal space for pets, play, or outdoor entertaining. Located in a great community, residents also enjoy access to a sparkling pool and a community center. If you’ve been looking for comfort, value, and a place to truly make your own, this is it!

18. 2025-12-01
    historical
19. 2025-09-03
    price $299,000
20. 2025-07-24
    listed $315,000 Active
21. 2020-08-19
    soldstatus $182,000 Sold
22. 2020-08-19
    soldstatus $182,000
23. 2020-07-08
    status Pending
24. 2020-07-03
    listed $182,000 Active

ⓘ 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: $643 · $54/mo
• Projected year-2 tax: $2,120 · $177/mo
• Expected delta: +$1,478/yr (+$123/mo · 229.9%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,604
• − Mortgage interest: −$15,628
• − Property taxes: −$643
• − Insurance: −$1,395
• − Repairs & maintenance: −$3,088
• − Management: −$3,088
• − Depreciation: −$8,116
• Taxable income: $6,645
• Est. tax owed @ 24.0%: −$1,595
• After-tax cash flow: $9,307/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This well-maintained 3-bedroom, 2-bathroom manufactured home offers a clean and welcoming interior with good curb appeal. Minor touch-ups and updates could further enhance its value.

Value-add opportunities

• Both paint exterior — enhances curb appeal and resale value
• Both replace carpets — improves comfort and reduces allergens

Renovation cost estimate screening

Value-add ROI direction

• Both paint exterior — enhances curb appeal and resale value ↑
• Both replace carpets — improves comfort and reduces allergens ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Los Angeles Unified
• NCES district ID: 0622710
• Math proficiency: 29% ▼ -4.00%
• Reading proficiency: 54% ▲ 10.00%
• Median HH income: $50,403
• Composite: 35.67/100
• National rank: #4875
• State rank: #223 of 517 in CA

Livability — Los Angeles

• Score: 68/100
• State rank: #273
• US rank: #9237

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment B Housing B- Health & safety C- User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Los Angeles, CA
• County: Los Angeles County · 9,444,647 people
• City population: 3,838,149
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 40,898
• Household income: $119,386
• Rent vs Own: 33.4% rent · 66.6% own
• Severe rent burden: 1205.0

Population outlook (Los Angeles County) Hauer SSP2

• Today (2025): 10,940,515 people
• By 2030: 11,256,481 · +2.9%
• By 2040: 11,729,929 · +7.2%
• By 2050: 11,948,407 · +9.2%
• By 2075: 11,818,114 · +8.0%
• By 2100: 10,842,928 · -0.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: White 41% Hispanic / Latino 29% Asian 18% Two or more races 15% Black 7%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Scotch-Irish 2% Romanian 2% Italian 1%
• Foreign-born: 29% · Canada, South Korea, Vietnam
• Languages at home: 58% English-only · Spanish 19% Other Indo-European 8% Tagalog/Filipino 4%

Political lean MEDSL · Los Angeles

• 2024 margin: Solid D (+32.9) · D 64.8% · R 31.9% · Other 3.3%
• 2008→2024 swing: -7.4pp toward R · 2008: 40.4pp · 2024: 32.9pp
• All cycles: 2024: D+32.9 2020: D+44.2 2016: D+48.0 2012: D+40.0 2008: D+40.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -777.33%
• Current HPI: 348.8389
• Rent YoY: ▲ 3.41%
• Metro: Los Angeles-Long Beach-Anaheim, 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

+53.3% since first listed

11 events — show timeline

• 2026-05-19 Pending — CRMLS
• 2026-05-12 Contingent — CRMLS
• 2026-02-12 Price Changed $279,000 CRMLS
• 2026-01-08 Listed $295,000 CRMLS
• 2025-12-01 Listing Removed — CRMLS
• 2025-09-03 Price Changed $299,000 CRMLS
• 2025-07-24 Listed $315,000 CRMLS
• 2020-08-19 Sold (MLS) $182,000 CSMAR
• 2020-08-19 Sold (MLS) $182,000 CRMLS
• 2020-07-08 Pending — CRMLS
• 2020-07-03 Listed $182,000 CRMLS

Property tax history

+3.8%/yr

Latest (2025): $643 · +3.8% YoY. Source: county tax records.