3800 Bradford #293

La Verne, CA 91750

$195,000C+

2 bd · 2.0 ba · 1,680 sqft · Built 1976 · Manufactured · Active · 177 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,519/mo
• Mortgage (P&I): −$1,023
• Tax + insurance: −$127
• HOA: −$0
• Vac / Maint / Mgmt: −$529
• Net cashflow: $840/mo
• Annual: $10,086/yr
• Cap rate: 11.47%
• Cash-on-cash: 18.47%
• DSCR: 1.82
• 1% rule: 1.29%
• Cash to close: $54,600

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $195k. Condition is rated fair.
• At list price, monthly cash flow is $840 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $195k).
• It's been on market 177 days — a 12% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $172k (12.0% 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 $6k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#110 in CA, #3,858 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, employment A+, commute A; Watch: cost of living F, health & safety F.
• Bonita Unified (suburban): math 59% / reading 70% proficiency, ranked #151 of 1,400 in CA (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: J. Marion Roynon Elementary (841 students, 44% FRL); Ramona Middle (1,304 students, 35% FRL); Bonita High (1,883 students, 28% FRL).
• Market conditions: Rents rising (+2.4%/yr); 120 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals lingering (median 47d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% of comp listings sitting > 30 days — soft ceiling on asking rent; 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.
• 3 sale attempts 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.
• At projected returns (-3.0% appreciation + 2.4% rent growth), your $55k cash investment doubles in ~7 years — after that, you're playing with house money.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 11.5% vs local median 2.8% in La Verne — 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.

Questions for listing agent

• It's been on market 177 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: kitchen cabinets — dated and in need of replacement
• Moderate: bathroom fixtures — outdated and in need of replacement
• Minor: exterior siding — some discoloration