1065 Lomita #369

West Carson, CA 90710

$299,999C+

3 bd · 2.0 ba · 1,536 sqft · Built 1973 · Manufactured · Active · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,675/mo
• Mortgage (P&I): −$1,573
• Tax + insurance: −$217
• HOA: −$0
• Vac / Maint / Mgmt: −$772
• Net cashflow: $1,114/mo
• Annual: $13,363/yr
• Cap rate: 10.75%
• Cash-on-cash: 15.91%
• DSCR: 1.71
• 1% rule: 1.23%
• Cash to close: $84,000

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $300k. Condition is rated poor.
• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $300k).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#408 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+; Watch: crime D+, amenities F, cost of living 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.
• Zoned schools: Alexander Fleming Middle (1,085 students, 87% FRL); Nathaniel Narbonne Senior High (math 28% / reading 56%, grade F, #472 of 1,170 statewide, top 42%, 1,731 students, 84% FRL) — zoned schools average 85% FRL vs 67% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.1%/yr); 63 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $153k; list at $300k implies a 96% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.1% rent growth), your $84k cash investment doubles in ~8 years — after that, you're playing with house money.
• Cap rate 10.7% vs local median 2.8% in West Carson — 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.
• At $3,675/mo this rent would consume 53% of the median local household income ($82k/yr) (locally 979% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Crime grade is D 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: exterior siding — Signs of wear and tear on the exterior.
• Major: roof — Aged appearance and potential need for inspection.
• Major: interior walls — Aged appearance and potential need for repainting.
• Major: bathrooms — Aged appearance and potential need for updates.
• Major: kitchen — Aged appearance and potential need for updates.
• Major: HVAC/mechanicals — Aged appearance and potential need for updates.