11825 Washington #33

West Whittier-Los Nietos, CA 90606

$157,000B-

2 bd · 1.0 ba · 1,006 sqft · Built 1959 · Manufactured · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,680/mo
• Mortgage (P&I): −$823
• Tax + insurance: −$262
• HOA: −$0
• Vac / Maint / Mgmt: −$563
• Net cashflow: $1,032/mo
• Annual: $12,390/yr
• Cap rate: 14.18%
• Cash-on-cash: 28.18%
• DSCR: 2.25
• 1% rule: 1.71%
• Cash to close: $43,960

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $157k.
• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $157k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Whittier Union High (suburban): math 42% / reading 65% proficiency, ranked #111 of 517 in CA (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Daniel Phelan Elementary (534 students, 50% FRL); Katherine Edwards Middle (916 students, 73% FRL); Santa Fe High (math 44% / reading 66%, grade C, #249 of 1,170 statewide, top 22%, 1,935 students, 79% FRL) — zoned schools average 67% FRL vs 26% district-wide (42 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 34 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 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 + 3.0% rent growth), your $44k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 14.2% vs local median 2.8% in West Whittier-Los Nietos — 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 32% of the median local income ($100k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.