2906 Indian Dr

West Bishop, CA 93514

$3,550D

3 bd · 4.0 ba · 3,456 sqft · Built 1977 · SingleFamily · Active · 107 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,400/mo
• Mortgage (P&I): −$19
• Tax + insurance: −$6
• HOA: −$0
• Vac / Maint / Mgmt: −$714
• Net cashflow: $2,661/mo
• Annual: $31,938/yr
• Cap rate: 905.94%
• Cash-on-cash: 3213.04%
• DSCR: 143.96
• 1% rule: 95.77%
• Cash to close: $994

Investor read

• This is a 3-bed/4.0-bath single-family listed at $4k.
• At list price, monthly cash flow is $3k ($32k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $4k).
• It's been on market 107 days — a 9% lower offer ($3k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $3k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $24 of loan paydown is wiped out by about $106 of value loss. Plan a longer hold.
• Location reads 60/100 on livability (#562 in CA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A; Watch: schools D, amenities F, commute F.
• 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; 1 comparable units currently listed for rent nearby; 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.
• 5 sale attempts since 11y ago; this cycle's ask has dropped $350 (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $994 cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 10→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 107 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1977 — 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 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.