24414 University Ave #49

Loma Linda, CA 92354

$242,000C+

3 bd · 2.0 ba · 1,500 sqft · Built 2001 · Manufactured · Active · 71 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,859/mo
• Mortgage (P&I): −$1,269
• Tax + insurance: −$152
• HOA: −$0
• Vac / Maint / Mgmt: −$600
• Net cashflow: $838/mo
• Annual: $10,054/yr
• Cap rate: 10.45%
• Cash-on-cash: 14.84%
• DSCR: 1.66
• 1% rule: 1.18%
• Cash to close: $67,760

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $242k.
• At list price, monthly cash flow is $838 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $242k).
• It's been on market 71 days — a 6% lower offer ($227k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $227k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#335 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+; Watch: employment C-, health & safety C-, amenities D-.
• Colton Joint Unified (suburban): math 16% / reading 38% proficiency, ranked #373 of 517 in CA (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.7%/yr); 53 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 5,458 units permitted in San Bernardino County in 2024 (1,500 in 5+ unit buildings).
• San Bernardino County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 2.7% rent growth), your $68k cash investment doubles in ~9 years — after that, you're playing with house money.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 10.4% vs local median 2.7% in Loma Linda — 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.
• This rent runs 41% of the median local income ($84k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• 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.
• 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.