600 S Dennison #27 · Tehachapi, CA 93561

$149,990

3 bd · 2.0 ba · 1,248 sqft · Manufactured public records · 89 Days on market

Built 1995 2,178 sqft lot Est $162k · 8% under

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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
• ARV discount +10.9/15.0
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• Schools +3.0/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home has been completely remodeled. It is a brand new home inside. Out side was just recently painted and fixed upl. Split wing floorplan. All appliances are brand new, and stay. Furniture in home can stay also with acceptable offer. Home has an awesome deck patio in front with handicap access. Central heat and air conditioning. Their is also a cooler in window in living room. Storage shed in back. Nice size little yard for pets.

Key facts

• Covered carport
• Covered patio
• Storage shed

Tags

• COVERED PATIO
• WHEELCHAIR RAMP
• STORAGE SHED
• COVERED CARPORT
• SPLIT WING FLOORPLAN
• NEW COUNTERS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $150k.

Deal economics

• At list price, monthly cash flow is $653 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $141k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.5% vs local median 3.4% in Tehachapi — 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 51/100 on livability (#1,093 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A; Watch: employment D+, crime F, amenities F.
• Tehachapi Unified (town): math 26% / reading 40% proficiency, ranked #285 of 517 in CA (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Tompkins Elementary (math 26% / reading 32%, grade F, #891 of 1,571 statewide, top 57%, 642 students, 44% FRL).
• Market conditions: Rents flat; 654 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 3,244 units permitted in Kern County in 2024 (73 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Kern County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.1% rent growth), your $42k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $15k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $140,990 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
6. 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.
7. 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.
8. 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: 1.38% ✓
• Cap rate: 11.52%
• Cash-on-cash: 18.67%
• DSCR: 1.83
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $162,240
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
600 S Dennison Rd #13	0.00mi	3/2.0	1,284 (+3%)	3mo	$139,900	$109	92
600 S Dennison Rd #62 Rd	0.00mi	2/2.0 (-1)	1,231 (-1%)	3mo	$160,000	$130	90
600 S Dennison Rd #117	0.00mi	3/2.0	1,118 (-10%)	22mo	$168,000	$150	64

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.05% rent growth · sell at horizon

5-year hold

• IRR: 7.2%
• Equity multiple: 1.27×
• Total profit: $11,338
• Equity at exit: $22,364

10-year hold

• IRR: 13.8%
• Equity multiple: 1.96×
• Total profit: $40,366
• Equity at exit: $12,968

Cash invested: $41,997 (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 93561

• Home prices YoY: -23.9%
• Rents YoY: 0.1%
• Active inventory: 654
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $2,069 high
• Mortgage (P&I): −$787
• Tax from tax record: −$132 /mo · $1,584/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$434
• Net cashflow: $653

Break-even live

Break-even rent $1,242

Max offer price $149,990

Occupancy floor 63%

Sensitivity live

Price	-10% $738	-5% $696	+0% $653	+5% $611	+10% $568
Rent	-10% $490	-5% $572	+0% $653	+5% $735	+10% $817
Rate	-1.0pp $729	-0.5pp $691	base $653	+0.5pp $614	+1.0pp $575

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: $37,498
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
49500 Alan Ave Tehachapi, CA	3.0	2.0	936	$2,200	$2.35	3d	1	0.56mi
207 E E St Tehachapi, CA	2.0	1.0	704	$1,300	$1.85	44d	1	0.83mi
933 Clearview St Tehachapi, CA	3.0	2.0	1130	$2,350	$2.08	12d	1	0.88mi
933 Clearview St Tehachapi, CA	3.0	2.0	1130	$2,350	$2.08	24d	1	0.88mi
217 E I St Tehachapi, CA	2.0	1.0	854	$1,795	$2.10	3d	1	0.90mi
420 N Mill St Tehachapi, CA	2.0	1.0	850	$1,875	$2.21	3d	1	1.33mi
516 Valley Blvd Apt 8 Tehachapi, CA	2.0	1.0	790	$1,325	$1.68	4d	1	1.37mi
1431 Cimarron Ct Unit 2 Tehachapi, CA	2.0	1.5	1200	$1,650	$1.38	4d	1	1.37mi
458 Sherwood Pl Tehachapi, CA	3.0	2.0	1378	$2,300	$1.67	11d	1	1.40mi
814 Aspen Dr Apt A Tehachapi, CA	2.0	1.0	800	$1,575	$1.97	44d	1	1.48mi
600 Cherry Ln Tehachapi, CA	2.0	1.0	720	$1,475	$2.05	3d	1	1.49mi

Listing history 12 events

1. 2026-03-31
   soldstatus $149,900 Closed 438-char remark

   Show marketing remark (438 chars)

   This home has been completely remodeled. It is a brand new home inside. Out side was just recently painted and fixed upl. Split wing floorplan. All appliances are brand new, and stay. Furniture in home can stay also with acceptable offer. Home has an awesome deck patio in front with handicap access. Central heat and air conditioning. Their is also a cooler in window in living room. Storage shed in back. Nice size little yard for pets.

2. 2026-03-08
   status Pending
3. 2026-02-17
   price $149,990
4. 2026-01-24
   price $159,000 438-char remark

   Show marketing remark (438 chars)

   This home has been completely remodeled. It is a brand new home inside. Out side was just recently painted and fixed upl. Split wing floorplan. All appliances are brand new, and stay. Furniture in home can stay also with acceptable offer. Home has an awesome deck patio in front with handicap access. Central heat and air conditioning. Their is also a cooler in window in living room. Storage shed in back. Nice size little yard for pets.

5. 2026-01-24
   price $159,000

   Show marketing remark (438 chars)

   This home has been completely remodeled. It is a brand new home inside. Out side was just recently painted and fixed upl. Split wing floorplan. All appliances are brand new, and stay. Furniture in home can stay also with acceptable offer. Home has an awesome deck patio in front with handicap access. Central heat and air conditioning. Their is also a cooler in window in living room. Storage shed in back. Nice size little yard for pets.

6. 2025-12-08
   listed $165,000 Active
7. 2025-10-15
   price $170,000 438-char remark

   Show marketing remark (438 chars)

   This home has been completely remodeled. It is a brand new home inside. Out side was just recently painted and fixed upl. Split wing floorplan. All appliances are brand new, and stay. Furniture in home can stay also with acceptable offer. Home has an awesome deck patio in front with handicap access. Central heat and air conditioning. Their is also a cooler in window in living room. Storage shed in back. Nice size little yard for pets.

8. 2025-09-12
   price $179,900 438-char remark

   Show marketing remark (438 chars)

   This home has been completely remodeled. It is a brand new home inside. Out side was just recently painted and fixed upl. Split wing floorplan. All appliances are brand new, and stay. Furniture in home can stay also with acceptable offer. Home has an awesome deck patio in front with handicap access. Central heat and air conditioning. Their is also a cooler in window in living room. Storage shed in back. Nice size little yard for pets.

9. 2025-08-05
   listed $184,900 Active 438-char remark

   Show marketing remark (438 chars)

   This home has been completely remodeled. It is a brand new home inside. Out side was just recently painted and fixed upl. Split wing floorplan. All appliances are brand new, and stay. Furniture in home can stay also with acceptable offer. Home has an awesome deck patio in front with handicap access. Central heat and air conditioning. Their is also a cooler in window in living room. Storage shed in back. Nice size little yard for pets.

10. 2023-09-22
    soldstatus $118,000 Closed Sale 927-char remark

    Show marketing remark (927 chars)

    Fantastic 3 bed 2 bath manufactured home located in the desirable Mountain Aire Estates, a senior mobile home park. This home is in some need of TLC. Washer, Dryer & Refrigerator are all included. Investors, take note of this incredible opportunity to turn this diamond in the rough into a true gem. The high ceilings throughout create an open and airy atmosphere, ensuring a spacious feel that's perfect for comfortable living. Brand new water heater. Beyond the home itself, the Mountain Aire Estates community offers a serene and inviting environment for those seeking a senior-focused lifestyle. Enjoy the community clubhouse and all of its amenities. Tehachapi is a charming town with plenty of shops, restaurants, and local attractions to explore. Wether you're a retiree or just looking for a change of pace, this mobile home is the perfect place to call your own! Don't miss this opportunity! (Photos coming soon)

11. 2023-09-05
    status Pending Sale 927-char remark

    Show marketing remark (927 chars)

    Fantastic 3 bed 2 bath manufactured home located in the desirable Mountain Aire Estates, a senior mobile home park. This home is in some need of TLC. Washer, Dryer & Refrigerator are all included. Investors, take note of this incredible opportunity to turn this diamond in the rough into a true gem. The high ceilings throughout create an open and airy atmosphere, ensuring a spacious feel that's perfect for comfortable living. Brand new water heater. Beyond the home itself, the Mountain Aire Estates community offers a serene and inviting environment for those seeking a senior-focused lifestyle. Enjoy the community clubhouse and all of its amenities. Tehachapi is a charming town with plenty of shops, restaurants, and local attractions to explore. Wether you're a retiree or just looking for a change of pace, this mobile home is the perfect place to call your own! Don't miss this opportunity! (Photos coming soon)

12. 2023-08-23
    listed $140,000 Active 927-char remark

    Show marketing remark (927 chars)

    Fantastic 3 bed 2 bath manufactured home located in the desirable Mountain Aire Estates, a senior mobile home park. This home is in some need of TLC. Washer, Dryer & Refrigerator are all included. Investors, take note of this incredible opportunity to turn this diamond in the rough into a true gem. The high ceilings throughout create an open and airy atmosphere, ensuring a spacious feel that's perfect for comfortable living. Brand new water heater. Beyond the home itself, the Mountain Aire Estates community offers a serene and inviting environment for those seeking a senior-focused lifestyle. Enjoy the community clubhouse and all of its amenities. Tehachapi is a charming town with plenty of shops, restaurants, and local attractions to explore. Wether you're a retiree or just looking for a change of pace, this mobile home is the perfect place to call your own! Don't miss this opportunity! (Photos coming soon)

ⓘ 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: $1,584 · $132/mo
• Projected year-2 tax: $1,584 · $132/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 3/10 Moderate FEMA zone X (shaded) · 10% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 4/10 Moderate 7 d/yr ≥90°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 17 unhealthy d/yr today · 21 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,826
• − Mortgage interest: −$8,402
• − Property taxes: −$1,584
• − Insurance: −$750
• − Repairs & maintenance: −$1,986
• − Management: −$1,986
• − Depreciation: −$4,363
• Taxable income: $5,755
• Est. tax owed @ 24.0%: −$1,381
• After-tax cash flow: $6,459/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: Tehachapi Unified
• NCES district ID: 0638880
• Math proficiency: 26% ▼ -5.00%
• Reading proficiency: 40% ▼ -6.00%
• Median HH income: $59,230
• Composite: 29.52/100
• National rank: #6497
• State rank: #285 of 517 in CA

Livability — Tehachapi

• Score: 51/100
• State rank: #1093
• US rank: #25419

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tehachapi, CA
• County: Kern County · 710,371 people
• City population: 31,175
• Metro: Bakersfield, CA
• Population (ZIP): 31,175
• Household income: $87,357
• Rent vs Own: 20.2% rent · 79.8% own
• Severe rent burden: 568.0

Population outlook (Kern County) Hauer SSP2

• Today (2025): 947,286 people
• By 2030: 978,984 · +3.3%
• By 2040: 1,045,018 · +10.3%
• By 2050: 1,105,232 · +16.7%
• By 2075: 1,229,538 · +29.8%
• By 2100: 1,238,059 · +30.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 24% Two or more races 9% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: Italian 6% Lithuanian 3% Slovak 3%
• Foreign-born: 10% · Canada, China
• Languages at home: 83% English-only · Spanish 13% Chinese 1% Other Indo-European 1%

Political lean MEDSL · Kern

• 2024 margin: Strong R (+21.1) · D 38.2% · R 59.3% · Other 2.5%
• 2008→2024 swing: -3.3pp toward R · 2008: -17.8pp · 2024: -21.1pp
• All cycles: 2024: R+21.1 2020: R+10.2 2016: R+15.0 2012: R+20.9 2008: R+17.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -116.70%
• Current HPI: 371.6546
• Rent YoY: ▬ 0.05%
• 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

+7.1% since first listed

12 events — show timeline

• 2026-03-31 Sold (MLS) $149,900 AVMLS
• 2026-03-08 Pending — GEMLS
• 2026-02-17 Price Changed $149,990 GEMLS
• 2026-01-24 Price Changed $159,000 AVMLS
• 2026-01-24 Price Changed $159,000 GEMLS
• 2025-12-08 Listed $165,000 GEMLS
• 2025-10-15 Price Changed $170,000 AVMLS
• 2025-09-12 Price Changed $179,900 AVMLS
• 2025-08-05 Listed $184,900 AVMLS
• 2023-09-22 Sold (MLS) $118,000 CRMLS
• 2023-09-05 Pending — CRMLS
• 2023-08-23 Listed $140,000 CRMLS

Property tax history

+14.2%/yr

Latest (2025): $1,584 · +103.7% YoY. Source: county tax records.