975 S Lamb Rd · Ridgecrest, CA 93555

$89,000

3 bd · 2.0 ba · 1,152 sqft · Manufactured public records · 8 Days on market

Built 1977 2.28 ac lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.5/5.0
• Rent growth +3.4/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Fixer-upper on 2.28 acres. Large metal building. The home needs a full remodel. Buyer to check to see if the appliances, AC, and heater work.

Key facts

• Large metal building
• 2.28 acres
• 2.28 acre lot

Tags

• LARGE METAL BUILDING
• 2.28 ACRES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $89k.

Deal economics

• At list price, monthly cash flow is $543 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Cap rate 13.6% vs local median 4.0% in Ridgecrest — 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 70/100 on livability (#243 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+; Watch: schools C-, amenities D+, cost of living D+.
• Sierra Sands Unified (town): math 25% / reading 39% proficiency, ranked #294 of 517 in CA (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.6%/yr); 328 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 5,458 units permitted in San Bernardino County in 2024 (1,500 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $615 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• San Bernardino County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.6% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 8→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $89,000

Questions for the listing agent

1. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.61% ✓
• Cap rate: 13.62%
• Cash-on-cash: 26.16%
• DSCR: 2.16
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.58% rent growth · sell at horizon

5-year hold

• IRR: 20.5%
• Equity multiple: 1.84×
• Total profit: $21,021
• Equity at exit: $13,270

10-year hold

• IRR: 29.1%
• Equity multiple: 3.66×
• Total profit: $66,356
• Equity at exit: $7,695

Cash invested: $24,920 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

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

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 93555

• Home prices YoY: -24.0%
• Rents YoY: 3.6%
• Active inventory: 328
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,429 high
• Mortgage (P&I): −$467
• Tax from tax record: −$82 /mo · $981/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $543

Break-even live

Break-even rent $741

Max offer price $89,000

Occupancy floor 57%

Sensitivity live

Price	-10% $594	-5% $568	+0% $543	+5% $518	+10% $493
Rent	-10% $430	-5% $487	+0% $543	+5% $600	+10% $656
Rate	-1.0pp $588	-0.5pp $566	base $543	+0.5pp $520	+1.0pp $497

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1300 E Church Ave Apt 3 Ridgecrest, CA	2.0	1.0	1000	$1,000	$1.00	3d	1	1.12mi
413 S Richmond Rd Unit B Ridgecrest, CA	2.0	1.0	990	$875	$0.88	11d	1	1.18mi
224 Larkspur St Ridgecrest, CA	3.0	2.0	1362	$1,995	$1.46	3d	1	1.24mi
134 S Locust St Apt B Ridgecrest, CA	3.0	3.0	1150	$1,425	$1.24	3d	1	1.25mi
128 S Locust St Apt B Ridgecrest, CA	3.0	2.5	1100	$1,200	$1.09	3d	1	1.27mi
305 S Richmond Rd Unit A Ridgecrest, CA	3.0	1.5	1168	$1,275	$1.09	44d	1	1.27mi

Listing history 2 events

1. 2025-10-01
   status Pending
2. 2025-09-23
   listed $89,000 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: $981 · $82/mo
• Projected year-2 tax: $981 · $82/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone D · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 8 d/yr ≥103°F today · 24 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,146
• − Mortgage interest: −$4,985
• − Property taxes: −$981
• − Insurance: −$445
• − Repairs & maintenance: −$1,372
• − Management: −$1,372
• − Depreciation: −$2,589
• Taxable income: $5,403
• Est. tax owed @ 24.0%: −$1,297
• After-tax cash flow: $5,223/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.

Schools (NCES district)

• District: Sierra Sands Unified
• NCES district ID: 0636800
• Math proficiency: 25% ▼ -11.00%
• Reading proficiency: 39% ▼ -11.00%
• Median HH income: $58,937
• Composite: 28.66/100
• National rank: #6699
• State rank: #294 of 517 in CA

Livability — Ridgecrest

• Score: 70/100
• State rank: #243
• US rank: #8014

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Kern County · 710,371 people
• City population: 33,845
• Metro: Bakersfield, CA
• Population (ZIP): 33,845
• Household income: $86,700
• Rent vs Own: 37.5% rent · 62.5% own
• Severe rent burden: 975.0

Population outlook (San Bernardino County) Hauer SSP2

• Today (2025): 2,300,329 people
• By 2030: 2,378,907 · +3.4%
• By 2040: 2,523,137 · +9.7%
• By 2050: 2,642,388 · +14.9%
• By 2075: 2,880,769 · +25.2%
• By 2100: 2,909,436 · +26.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 20% Two or more races 12% Black 4% Asian 4% Native American 1%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Italian 4% Lithuanian 2% Slovak 2%
• Foreign-born: 7% · Canada
• Languages at home: 84% English-only · Spanish 11% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · San Bernardino

• 2024 margin: Toss-up / Even · D 47.5% · R 49.7% · Other 2.8%
• 2008→2024 swing: -8.5pp toward R · 2008: 6.3pp · 2024: -2.1pp
• All cycles: 2024: R+2.1 2020: D+10.7 2016: D+9.8 2012: D+5.4 2008: D+6.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -120.17%
• Current HPI: 380.5208
• Rent YoY: ▲ 3.58%
• Metro: Bakersfield, 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

2 events — show timeline

• 2025-10-01 Pending — SSMLS
• 2025-09-23 Listed $89,000 SSMLS

Property tax history

-0.7%/yr

Latest (2025): $981 · +3.8% YoY. Source: county tax records.