301 E Foothill #063

Pomona, CA 91767

$147,000B

2 bd · 1.0 ba · 840 sqft · Built 1965 · Manufactured · Active · 261 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,492/mo
• Mortgage (P&I): −$771
• Tax + insurance: −$245
• HOA: −$0
• Vac / Maint / Mgmt: −$523
• Net cashflow: $953/mo
• Annual: $11,433/yr
• Cap rate: 14.07%
• Cash-on-cash: 27.78%
• DSCR: 2.24
• 1% rule: 1.70%
• Cash to close: $41,160

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $147k. Condition is rated good.
• At list price, monthly cash flow is $953 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $147k).
• It's been on market 261 days — a 12% lower offer ($129k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $129k (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 $4k of value loss. Plan a longer hold.
• Location reads 58/100 on livability (#676 in CA) — a working-class tenant base; expect higher turnover. Strengths: commute A+; Watch: crime F, amenities F, cost of living F.
• Claremont Unified (suburban): math 50% / reading 64% proficiency, ranked #259 of 1,400 in CA (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Sumner Elementary (428 students, 41% FRL); El Roble Intermediate (946 students, 35% FRL); Claremont High (math 72% / reading 87%, grade A-, #45 of 1,170 statewide, top 4%, 2,256 students, 32% FRL).
• Zoned-school proficiency averages 80% at this address vs 57% district-wide (+22 pts) — the actual schools serving this property are materially stronger than the Claremont Unified average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+7.4%/yr); 92 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 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.
• At projected returns (-3.0% appreciation + 7.4% rent growth), your $41k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 14.1% vs local median 2.7% in Pomona — 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 38% of the median local income ($79k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 261 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1965 — 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?
• 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?
• 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)

• Minor: kitchen cabinets — slight wear
• Minor: kitchen countertops — dated laminate