45465 25th St Spc 269 · Lancaster, CA 93535

$199,000

3 bd · 2.0 ba · 1,400 sqft · Manufactured public records · 66 Days on market

Built 2001 Fair condition Est $151k · 32% over ↓ 3% since listing

---

Why this score? — see what drove the C 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
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +2.1/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Stunning 2001 Mobile Home, features 3 bedrooms, two full bathrooms, 1400 sf of living area. Spacious formal living room and family room. Open kitchen with center island. Master bedroom is opposite the two bedrooms, offers dual sink, standing shower and separate jacuzzi/spa. Chain link fence for privacy. This community offers a number of amenities including swimming pool, basketball courts, gym, recreational room, RV/Boat storage, and 24-hour security, plenty of visitors parking. Feel free to Visit the park's website at https://www. lancasterestatesmhp.com Ready for immediate occupancy

Key facts

• Dual sink
• Swimming pool
• Standing shower

Tags

• OPEN KITCHEN
• CENTER ISLAND
• DUAL SINK
• STANDING SHOWER
• SEPARATE JACUZZI
• SWIMMING POOL

Property features AI

Finance

• Other: APN: 8950-138-269; Serial number: 090125012795A; Length: 486; Width: 134; Label/Insignia number: RAD1320084; Dec number: RAD1320084
• HOA & community: New space rent: $820; Park deposit: $1,000; Deposit: $3,000; Manager: Jackie Reyes (phone: [phone])

Exterior

• Parking: Garage
• Utilities: 220V electric; Natural gas; Cable TV
• Home design: Manufactured home (model: Infinity, trade name: INFINITI); Located in Lancaster Estates mobile home park; All ages community; Entry space: Spc 269
• Construction: Composition shingle roof; Manufactured May 9, 2001; Champion Home Builder (manufacturer); Skirted
• Exterior features: Spa/Hot Tub in park; Clubhouse/Rec Room in park; Gym in park; Pool in park

Interior

• Kitchen: Dishwasher
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heat (natural gas); Central air
• Interior features: Dishwasher

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $199k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $946 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $199k).
• Recommended offer: $187k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.0% vs local median 4.3% in Lancaster — 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 68/100 on livability (#282 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, amenities B+; Watch: health & safety C-, crime F, cost of living F.
• Eastside Union Elementary (suburban): math 15% / reading 27% proficiency, ranked #1,226 of 1,400 in CA (top 88%) — 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.
• Zoned schools: Eastside Elementary (428 students, 91% FRL); Gifford C. Cole Middle (703 students, 92% FRL); Eastside High (2,650 students, 61% FRL) — zoned schools at 81% FRL track the district average.
• Market conditions: Rents flat; 1178 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $2,716/mo this rent would consume 46% of the median local household income ($70k/yr) (locally 2494% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• 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 + 0.1% rent growth), your $56k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($187k) 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: moderate wildfire risk; extreme-heat days projected 5→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $187,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.36% ✓
• Cap rate: 12.00%
• Cash-on-cash: 20.37%
• DSCR: 1.91
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $151,200
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2121 E Avenue I #28	0.29mi	3/2.0	1,404 (+0%)	1mo	$175,000	$125	86
2545 E Avenue I #66	0.21mi	3/2.0	1,440 (+3%)	8mo	$155,000	$108	78
2545 E Avenue I #14	0.21mi	3/2.0	1,344 (-4%)	8mo	$140,000	$104	77
2121 E Avenue I #64	0.29mi	3/2.0	1,344 (-4%)	7mo	$168,500	$125	74
45465 25th St E #11	0.06mi	2/2.0 (-1)	1,248 (-11%)	0mo	$184,000	$147	74
2121 E Avenue I #17	0.29mi	3/2.0	1,344 (-4%)	9mo	$155,000	$115	72
2550 E Avenue I Space 29	0.41mi	3/2.0	1,368 (-2%)	7mo	$119,000	$87	72
45465 25th St E #28	0.01mi	2/2.0 (-1)	1,248 (-11%)	7mo	$162,000	$130	70
2550 E East Avenue I #42	0.41mi	3/2.0	1,460 (+4%)	8mo	$117,150	$80	67
2550 East Ave I	0.49mi	3/2.0	1,460 (+4%)	8mo	$117,150	$80	63
2550 E Avenue I #110	0.49mi	2/2.0 (-1)	1,440 (+3%)	6mo	$123,050	$85	62
2550 E Avenue I #94	0.49mi	2/2.0 (-1)	1,536 (+10%)	10mo	$85,000	$55	48

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 · 0.14% rent growth · sell at horizon

5-year hold

• IRR: 9.6%
• Equity multiple: 1.36×
• Total profit: $20,333
• Equity at exit: $29,672

10-year hold

• IRR: 16.4%
• Equity multiple: 2.18×
• Total profit: $65,561
• Equity at exit: $17,206

Cash invested: $55,720 (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 93535

• Home prices YoY: -24.3%
• Rents YoY: 0.1%
• Active inventory: 1178
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,716 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$73 /mo · $879/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$570
• Net cashflow: $946

Break-even live

Break-even rent $1,519

Max offer price $199,000

Occupancy floor 60%

Sensitivity live

Price	-10% $1,059	-5% $1,002	+0% $946	+5% $890	+10% $833
Rent	-10% $731	-5% $839	+0% $946	+5% $1,053	+10% $1,160
Rate	-1.0pp $1,046	-0.5pp $997	base $946	+0.5pp $894	+1.0pp $842

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
45465 25th St E Spc 10 Lancaster, CA	3.0	2.0	1690	$825	$0.49	5d	1	0.06mi
2634 Avoca St Lancaster, CA	4.0	3.0	1722	$3,200	$1.86	0d	1	0.50mi
45118 Parkview Ln Lancaster, CA	2.0	2.0	980	$2,500	$2.55	26d	1	0.63mi
45041 Colleen Dr Lancaster, CA	3.0	3.0	1303	$3,100	$2.38	0d	1	0.93mi
44707 Cerisa St Lancaster, CA	4.0	2.0	1714	$3,000	$1.75	12d	1	0.95mi
44709 26th St E Lancaster, CA	3.0	2.0	1316	$2,300	$1.75	20d	1	0.97mi
1734 Lightcap St Lancaster, CA	3.0	2.0	1467	$2,700	$1.84	0d	1	1.00mi
2624 Via Verona Lancaster, CA	3.0	2.5	1563	$2,900	$1.86	0d	1	1.28mi
1628 Cactus Dr Apt B Lancaster, CA	2.0	1.5	1000	$1,999	$2.00	0d	1	1.34mi
1647 Orchid Ln Lancaster, CA	3.0	3.0	1084	$1,950	$1.80	24d	1	1.34mi
1647 Orchid Ln Lancaster, CA	2.0	2.0	1000	$1,875	$1.88	4d	1	1.34mi
1827 East Avenue J Unit 2 Lancaster, CA	2.0	2.0	1050	$1,850	$1.76	19d	1	1.39mi
44532 15th St E #7 Lancaster, CA	2.0	2.0	1062	$2,050	$1.93	0d	1	1.41mi
44532 15th St E #7 Lancaster, CA	2.0	2.0	1062	$2,150	$2.02	26d	1	1.41mi
2500 Topaz Ln Lancaster, CA	3.0	2.0	1274	$2,800	$2.20	26d	1	1.44mi
44732 12th St E Lancaster, CA	3.0	2.0	1426	$2,600	$1.82	17d	1	1.46mi

Listing history 19 events

1. 2026-06-21
   days on market $199,000 Active 66 DOM
2. 2026-06-18
   days on market $199,000 Active 63 DOM
3. 2026-06-17
   days on market $199,000 Active 62 DOM
4. 2026-06-16
   days on market $199,000 Active 61 DOM
5. 2026-06-15
   days on market $199,000 Active 60 DOM
6. 2026-06-13
   days on market $199,000 Active 58 DOM
7. 2026-06-13
   days on market $199,000 Active 57 DOM
8. 2026-06-09
   days on market $199,000 Active 54 DOM
9. 2026-06-08
   days on market $199,000 Active 53 DOM
10. 2026-06-07
    days on market $199,000 Active 52 DOM
11. 2026-06-04
    days on market $199,000 Active 49 DOM
12. 2026-06-03
    days on market $199,000 Active 48 DOM
13. 2026-06-02
    days on market $199,000 Active 47 DOM
14. 2026-06-01
    days on market $199,000 Active 46 DOM
15. 2026-05-31
    days on market $199,000 Active 45 DOM
16. 2026-04-30
    price $199,000
17. 2026-04-16
    listed $205,000 Active
18. 2025-10-14
    historical
19. 2025-06-03
    listed $205,000 Active

ⓘ 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: $879 · $73/mo
• Projected year-2 tax: $1,512 · $126/mo
• Expected delta: +$633/yr (+$53/mo · 72.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 7/10 Severe 5 d/yr ≥101°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 16 unhealthy d/yr today · 21 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,593
• − Mortgage interest: −$11,147
• − Property taxes: −$879
• − Insurance: −$995
• − Repairs & maintenance: −$2,607
• − Management: −$2,607
• − Depreciation: −$5,789
• Taxable income: $8,567
• Est. tax owed @ 24.0%: −$2,056
• After-tax cash flow: $9,295/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.

Condition & rehab AI · 12 photos

Fair 45/100 Cosmetic rehab

This mobile home requires cosmetic repairs and maintenance to improve its curb appeal and interior condition, increasing its resale and rental value.

Repairs flagged

• Major Exterior foundation — Exposed and in poor condition
• Major Exterior paint — Peeling and worn

Value-add opportunities

• Both Paint exterior and interior walls — Enhances curb appeal and interior aesthetics
• Both Replace carpet with new flooring — Improves comfort and appearance
• Both Replace exterior foundation — Fixes structural issue and enhances curb appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior foundation · Exposed and in poor condition	Major	$15,000–50,000
Exterior paint · Peeling and worn	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both Paint exterior and interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Replace carpet with new flooring — Improves comfort and appearance ↑
• Both Replace exterior foundation — Fixes structural issue and enhances curb appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Eastside Union Elementary
• NCES district ID: 0611910
• Math proficiency: 15% ▲ 1.00%
• Reading proficiency: 27% ▲ 3.00%
• Median HH income: $44,840
• Composite: 21.43/100
• National rank: #13636
• State rank: #1226 of 1400 in CA

Livability — Lancaster

• Score: 68/100
• State rank: #282
• US rank: #9504

Category grades

Amenities B+ Commute A+ Cost of living F Crime F Employment C+ Housing A+ Health & safety C- User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lancaster, CA
• County: Los Angeles County · 9,444,647 people
• City population: 194,251
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 79,409
• Household income: $70,360
• Rent vs Own: 33.6% rent · 66.4% own
• Severe rent burden: 2494.0

Population outlook (Los Angeles County) Hauer SSP2

• Today (2025): 10,940,515 people
• By 2030: 11,256,481 · +2.9%
• By 2040: 11,729,929 · +7.2%
• By 2050: 11,948,407 · +9.2%
• By 2075: 11,818,114 · +8.0%
• By 2100: 10,842,928 · -0.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: Hispanic / Latino 55% Two or more races 25% Black 21% White 17% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 42%
• Common ancestry: Romanian 1% Italian 1% Lithuanian 1%
• Foreign-born: 13% · Canada
• Languages at home: 60% English-only · Spanish 37% Tagalog/Filipino 1% Other Indo-European 1%

Political lean MEDSL · Los Angeles

• 2024 margin: Solid D (+32.9) · D 64.8% · R 31.9% · Other 3.3%
• 2008→2024 swing: -7.4pp toward R · 2008: 40.4pp · 2024: 32.9pp
• All cycles: 2024: D+32.9 2020: D+44.2 2016: D+48.0 2012: D+40.0 2008: D+40.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -144.13%
• Current HPI: 449.4494
• Rent YoY: ▲ 0.14%
• Metro: Los Angeles-Long Beach-Anaheim, 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

-2.9% since first listed

4 events — show timeline

• 2026-04-30 Price Changed $199,000 AVMLS
• 2026-04-16 Listed $205,000 AVMLS
• 2025-10-14 Listing Removed — CRMLS
• 2025-06-03 Listed $205,000 CRMLS

Property tax history

+3.2%/yr

Latest (2025): $879 · +3.2% YoY. Source: county tax records.