3332 Rossetta Ave #66

Mojave, CA 93501

$150,000C-

3 bd · 2.0 ba · 1,056 sqft · Built 2007 · Manufactured · Active · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,379/mo
• Mortgage (P&I): −$787
• Tax + insurance: −$116
• HOA: −$0
• Vac / Maint / Mgmt: −$290
• Net cashflow: $187/mo
• Annual: $2,238/yr
• Cap rate: 7.79%
• Cash-on-cash: 5.33%
• DSCR: 1.24
• 1% rule: 0.92%
• Cash to close: $42,000

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $150k.
• At list price, monthly cash flow is $187 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $138k (8.1% below list).
• It's been on market 23 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $138k (8.1% below list) — sets the bar for 1% rule.
• In year one you build about $3k of equity ($1k loan paydown + $2k appreciation (1.3% local appreciation)).
• Location reads 55/100 on livability (#873 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+, commute A-; Watch: crime C-, schools F, amenities F.
• Mojave Unified (town): math 25% / reading 25% proficiency, ranked #411 of 517 in CA (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 278 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 3,244 units permitted in Kern County in 2024 (73 in 5+ unit buildings).
• Kern County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 31y ago; this cycle's ask is 15% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• At projected returns (1.3% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate 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 7.8% vs local median 3.7% in Mojave — 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.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.