600 S Dennison Rd Spc 109 · Tehachapi, CA 93561

$140,000

3 bd · 2.0 ba · 1,456 sqft · Manufactured public records · 73 Days on market

Built 2004 $96/sqft · 15% below area Est $166k · 15% 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 +14.5/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Located in a welcoming 55+ mobile home community in scenic Kern County, this well-maintained home offers comfort, low-maintenance living, and a peaceful neighborhood atmosphere. Enjoy fresh air, four mild seasons, and stunning views of the Tehachapi Mountains -- all just minutes from shopping, dining, and everyday essentials. Walking distance to local middle schools and high schools and less than a 5 minute drive to Downtown Tehachapi. Perfect for those ready to downsize without compromise, this home delivers affordability, convenience, and the lifestyle you deserve. Seller is offering $8,000 in credits - ideal for carpet/paint replacement! Come see why so many love calling Tehachapi home!

Key facts

• Built 2004
• Listed 73 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $140k.

Deal economics

• At list price, monthly cash flow is $984 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $132k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.7% 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+, schools F, crime 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.
• Market conditions: Rents flat; 654 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 10d 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).
• This rent runs 32% of the median local income ($87k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 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 $39k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Risks & watch-outs

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

Recommended offer $131,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 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: 1.65% ✓
• Cap rate: 14.73%
• Cash-on-cash: 30.13%
• DSCR: 2.34
• GRM: 5.0

CMA / ARV

• ARV (median comp): $165,663
• List price: $140,000
• Delta: -15.49%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
600 S Dennison Rd #112	0.00mi	3/2.0	1,456 (0%)	6mo	$154,000	$106	95
600 S Dennison Rd #13	0.00mi	3/2.0	1,284 (-12%)	3mo	$139,900	$109	78
600 S Dennison Rd #19	0.00mi	2/2.0 (-1)	1,560 (+7%)	17mo	$252,100	$162	69
600 S Dennison Rd #50	0.00mi	3/2.0	1,248 (-14%)	24mo	$175,000	$140	56

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: 21.5%
• Equity multiple: 1.85×
• Total profit: $33,288
• Equity at exit: $20,874

10-year hold

• IRR: 27.7%
• Equity multiple: 3.14×
• Total profit: $83,739
• Equity at exit: $12,105

Cash invested: $39,200 (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: 5.0×

Monthly cashflow live

• Estimated rent: $2,313 high
• Mortgage (P&I): −$734
• Tax from tax record: −$50 /mo · $602/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$486
• Net cashflow: $984

Break-even live

Break-even rent $1,067

Max offer price $140,000

Occupancy floor 52%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
49500 Alan Ave Tehachapi, CA	3.0	2.0	936	$2,200	$2.35	2d	1	0.56mi
933 Clearview St Tehachapi, CA	3.0	2.0	1130	$2,350	$2.08	11d	1	0.88mi
933 Clearview St Tehachapi, CA	3.0	2.0	1130	$2,350	$2.08	23d	1	0.88mi
1431 Cimarron Ct Unit 2 Tehachapi, CA	2.0	1.5	1200	$1,650	$1.38	3d	1	1.37mi
458 Sherwood Pl Tehachapi, CA	3.0	2.0	1378	$2,300	$1.67	10d	1	1.40mi

Listing history 9 events

1. 2026-06-07
   remarks 698-char remark
2. 2026-06-07
   statusdays on marketlisting id $140,000 Pending 73 DOM
3. 2026-06-03
   statusdays on market $140,000 Pending Sale 98 DOM
4. 2026-06-01
   days on market $140,000 Active Under Contract 97 DOM
5. 2026-05-31
   days on market $140,000 Active Under Contract 96 DOM
6. 2026-05-08
   status Pending 698-char remark

   Show marketing remark (698 chars)

   Located in a welcoming 55+ mobile home community in scenic Kern County, this well-maintained home offers comfort, low-maintenance living, and a peaceful neighborhood atmosphere. Enjoy fresh air, four mild seasons, and stunning views of the Tehachapi Mountains -- all just minutes from shopping, dining, and everyday essentials. Walking distance to local middle schools and high schools and less than a 5 minute drive to Downtown Tehachapi. Perfect for those ready to downsize without compromise, this home delivers affordability, convenience, and the lifestyle you deserve. Seller is offering $8,000 in credits - ideal for carpet/paint replacement! Come see why so many love calling Tehachapi home!

7. 2026-05-04
   historical Active Under Contract 935-char remark

   Show marketing remark (935 chars)

   * * * Offering $8,000 seller credit for carpet & paint * * * Enjoy peaceful living in the beautiful mountain community of Tehachapi. This 3-bedroom, 2-bathroom mobile home offers comfortable, single-level living in a quiet and welcoming neighborhood. The home features a spacious living area filled with natural light, a functional kitchen with ample cabinet space, and a private primary bedroom with its own bathroom for added comfort. Two additional bedrooms provide flexibility for visiting family, hobbies, or simply extra space to enjoy. Surrounded by fresh mountain air and four mild seasons, this home offers a relaxed pace of life while still being just minutes from shopping, dining, and everyday essentials. It’s the perfect place to settle in, unwind, and enjoy this next chapter in comfort and simplicity. Come experience the charm and tranquility that make Tehachapi such a special place to call home.

8. 2026-02-24
   listed $140,000 Active 698-char remark

   Show marketing remark (935 chars)

   * * * Offering $8,000 seller credit for carpet & paint * * * Enjoy peaceful living in the beautiful mountain community of Tehachapi. This 3-bedroom, 2-bathroom mobile home offers comfortable, single-level living in a quiet and welcoming neighborhood. The home features a spacious living area filled with natural light, a functional kitchen with ample cabinet space, and a private primary bedroom with its own bathroom for added comfort. Two additional bedrooms provide flexibility for visiting family, hobbies, or simply extra space to enjoy. Surrounded by fresh mountain air and four mild seasons, this home offers a relaxed pace of life while still being just minutes from shopping, dining, and everyday essentials. It’s the perfect place to settle in, unwind, and enjoy this next chapter in comfort and simplicity. Come experience the charm and tranquility that make Tehachapi such a special place to call home.

9. 2026-02-24
   listed $140,000 Active 935-char remark

   Show marketing remark (935 chars)

   * * * Offering $8,000 seller credit for carpet & paint * * * Enjoy peaceful living in the beautiful mountain community of Tehachapi. This 3-bedroom, 2-bathroom mobile home offers comfortable, single-level living in a quiet and welcoming neighborhood. The home features a spacious living area filled with natural light, a functional kitchen with ample cabinet space, and a private primary bedroom with its own bathroom for added comfort. Two additional bedrooms provide flexibility for visiting family, hobbies, or simply extra space to enjoy. Surrounded by fresh mountain air and four mild seasons, this home offers a relaxed pace of life while still being just minutes from shopping, dining, and everyday essentials. It’s the perfect place to settle in, unwind, and enjoy this next chapter in comfort and simplicity. Come experience the charm and tranquility that make Tehachapi such a special place to call home.

ⓘ 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: $602 · $50/mo
• Projected year-2 tax: $1,064 · $89/mo
• Expected delta: +$462/yr (+$38/mo · 76.6%)

ⓘ 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: $27,750
• − Mortgage interest: −$7,842
• − Property taxes: −$602
• − Insurance: −$700
• − Repairs & maintenance: −$2,220
• − Management: −$2,220
• − Depreciation: −$4,073
• Taxable income: $10,093
• Est. tax owed @ 24.0%: −$2,422
• After-tax cash flow: $9,388/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

+0.0% since first listed

4 events — show timeline

• 2026-05-08 Pending — AVMLS
• 2026-05-04 Contingent — CRMLS
• 2026-02-24 Listed $140,000 CRMLS
• 2026-02-24 Listed $140,000 AVMLS

Property tax history

+2.4%/yr

Latest (2025): $602 · +5.5% YoY. Source: county tax records.