1521 Matlick Ln

Dixon Lane-MeadowCreek, CA 93514

$167,000C

3 bd · 2.0 ba · 1,248 sqft · Built 2005 · Manufactured · Active · 24 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,123/mo
• Mortgage (P&I): −$876
• Tax + insurance: −$104
• HOA: −$0
• Vac / Maint / Mgmt: −$446
• Net cashflow: $698/mo
• Annual: $8,377/yr
• Cap rate: 11.31%
• Cash-on-cash: 17.91%
• DSCR: 1.80
• 1% rule: 1.27%
• Cash to close: $46,760

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $167k.
• At list price, monthly cash flow is $698 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $167k).
• It's been on market 24 days — a 2% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $164k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Bishop Unified (town): math 25% / reading 36% proficiency, ranked #337 of 517 in CA (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 74 active listings in the ZIP; 18 units permitted in Inyo County in 2024 (0 in 5+ unit buildings).
• Inyo County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 15y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $45k; list at $167k implies a 271% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $47k cash investment doubles in ~7 years — after that, you're playing with house money.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 3→10/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.