23777 mulholland hwy spc 28 · Calabasas, CA 91302

$339,000

3 bd · 3.0 ba · 1,248 sqft · Manufactured public records · 52 Days on market

Built 1973 $272/sqft · 35% above area Est $290k · 17% over

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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 +29.5/30.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• Schools +6.0/10.0
• Livability +2.9/5.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Key facts

• 2 parking spots
• Community pool
• Built 1973

Property features AI

Finance

• Other: Living area reported by seller; Park name: Calabasas Village
• Financial info: Land lease in place (monthly amount disclosed separately)
• HOA & community: Located in Calabasas Village with community amenities including a dog park and park

Exterior

• Parking: Carport with 2 spaces
• Utilities: Public sewer; District/Public water
• Home design: Single-story property; Mobile home remains on site; Mobile dimensions approximately 24 ft by 52 ft
• Construction: Year built provided by seller
• Exterior features: Community pool; Back yard

Interior

• Bathrooms: 3 full bathrooms
• Heating & cooling: Central cooling; Central furnace heating
• Interior features: West-facing entry; Entry at ground level
• Laundry & utility: Laundry inside the home

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath manufactured listed at $339k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $339k).
• Recommended offer: $329k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 2.2% in Calabasas — 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 57/100 on livability (#756 in CA) — a working-class tenant base; expect higher turnover. Strengths: employment A+, crime A-; Watch: amenities F, commute F, cost of living F.
• Las Virgenes Unified (suburban): math 55% / reading 70% proficiency, ranked #58 of 517 in CA (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 6% free/reduced lunch — higher-income household profile.
• Zoned schools: Alice C. Stelle Middle (math 40% / reading 68%, grade B-, #79 of 498 statewide, top 16%, 760 students, 17% FRL); Calabasas High (math 34% / reading 70%, grade D+, #296 of 1,170 statewide, top 27%, 1,817 students, 23% FRL).
• Market conditions: Rents soft (-2.9%/yr); 223 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($329k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 22y ago 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.
• Current owner paid $90k; list at $339k implies a 277% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $328,830 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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.
6. 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.
7. 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: 1.33% ✓
• Cap rate: 10.57%
• Cash-on-cash: 15.27%
• DSCR: 1.68
• GRM: 6.3

CMA / ARV

• ARV (median comp): $290,000
• List price: $339,000
• Delta: 16.90%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 2.5%
• Equity multiple: 1.09×
• Total profit: $8,907
• Equity at exit: $50,546

10-year hold

• IRR: 8.9%
• Equity multiple: 1.59×
• Total profit: $56,204
• Equity at exit: $29,311

Cash invested: $94,920 (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 91302

• Rents YoY: -2.9%
• Active inventory: 223
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $4,495 high
• Mortgage (P&I): −$1,778
• Tax est. 1.5%: −$424 /mo · $5,085/yr
• Insurance: −$141
• HOA: −$0
• Vacancy / Maint / Mgmt: −$944
• Net cashflow: $1,208

Break-even live

Break-even rent $2,966

Max offer price $339,000

Occupancy floor 68%

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: $84,750
• Closing costs: $10,170
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
24655 Park Miramar Calabasas, CA	2.0	2.0	1200	$5,995	$5.00	17d	1	0.90mi
4606 Park Granada #11 Calabasas, CA	2.0	2.0	1054	$2,795	$2.65	43d	1	1.16mi
23647 Park Capri #87 Calabasas, CA	3.0	2.0	1290	$3,900	$3.02	43d	1	1.19mi
23635 Park Capri #31 Calabasas, CA	2.0	2.0	1054	$2,975	$2.82	24d	1	1.25mi
4732 Park Granada #221 Calabasas, CA	2.0	2.0	1054	$2,800	$2.66	44d	1	1.25mi
4648 Park Granada #170 Calabasas, CA	3.0	2.0	1290	$4,200	$3.26	24d	1	1.25mi
4642 Park Granada #161 Calabasas, CA	2.0	2.0	1006	$4,000	$3.98	24d	1	1.25mi
23637 Park Capri #34 Calabasas, CA	2.0	2.0	1054	$3,800	$3.61	24d	1	1.25mi
4720 Park Granada Calabasas, CA	2.0	2.0	1006	$2,975	$2.96	43d	1	1.34mi

Listing history 47 events

1. 2026-06-18
   days on market $339,000 Active 52 DOM
2. 2026-06-17
   days on market $339,000 Active 51 DOM
3. 2026-06-16
   days on market $339,000 Active 50 DOM
4. 2026-06-15
   days on market $339,000 Active 49 DOM
5. 2026-06-13
   days on market $339,000 Active 47 DOM
6. 2026-06-13
   days on market $339,000 Active 46 DOM
7. 2026-06-09
   days on market $339,000 Active 43 DOM
8. 2026-06-08
   days on market $339,000 Active 42 DOM
9. 2026-06-07
   days on market $339,000 Active 41 DOM
10. 2026-06-04
    days on market $339,000 Active 38 DOM
11. 2026-06-03
    days on market $339,000 Active 37 DOM
12. 2026-06-02
    days on market $339,000 Active 36 DOM
13. 2026-06-01
    days on market $339,000 Active 35 DOM
14. 2026-05-31
    days on market $339,000 Active 34 DOM
15. 2026-04-27
    listed $339,000 Active 1537-char remark
16. 2026-01-26
    historical
17. 2025-03-24
    price $349,000
18. 2025-02-05
    listed $329,000 Active
19. 2025-01-22
    historical
20. 2024-02-01
    listed $449,000 Active
21. 2020-11-23
    historical
22. 2020-09-10
    listed $179,000 Active
23. 2019-10-28
    historical
24. 2019-10-21
    price $169,900
25. 2019-09-25
    price $176,000
26. 2019-05-20
    price $198,000
27. 2019-04-02
    listed $229,000 Active
28. 2017-08-19
    historical
29. 2017-07-28
    status Active
30. 2017-06-27
    historical Hold Do Not Show
31. 2017-06-01
    price $175,000
32. 2017-05-28
    status Active
33. 2017-04-27
    historical Hold Do Not Show
34. 2017-01-29
    listed $299,000 Active
35. 2015-09-02
    soldstatus $90,000 Closed
36. 2015-07-30
    status Pending
37. 2015-06-29
    listed $98,000 Active
38. 2015-03-10
    soldstatus $97,000 Closed
39. 2015-02-06
    status Pending
40. 2015-01-08
    price $99,000
41. 2014-10-23
    listed $119,000 Active
42. 2014-10-22
    historical
43. 2014-10-22
    listed $119,000 Active
44. 2007-06-18
    historical
45. 2006-07-21
    listed
46. 2005-04-01
    historical
47. 2004-12-13
    listed

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $53,937
• − Mortgage interest: −$18,989
• − Property taxes: −$5,085
• − Insurance: −$1,695
• − Repairs & maintenance: −$4,315
• − Management: −$4,315
• − Depreciation: −$9,862
• Taxable income: $9,676
• Est. tax owed @ 24.0%: −$2,322
• After-tax cash flow: $12,175/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: Las Virgenes Unified
• NCES district ID: 0621000
• Math proficiency: 55% ▼ -4.00%
• Reading proficiency: 70% ▬ 0.00%
• Median HH income: $118,374
• Composite: 59.63/100
• National rank: #907
• State rank: #58 of 517 in CA

Livability — Calabasas

• Score: 57/100
• State rank: #756
• US rank: #22060

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Calabasas, CA
• County: Los Angeles County · 9,444,647 people
• City population: 25,569
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 25,569
• Household income: $185,636
• Rent vs Own: 29.4% rent · 70.6% own
• Severe rent burden: 1222.0

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: Predominantly White (74%)
• Race & ethnicity: White 74% Asian 11% Two or more races 8% Hispanic / Latino 7% Black 3%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Scotch-Irish 7% Romanian 3% Italian 3%
• Foreign-born: 25% · China, Canada, South Korea
• Languages at home: 72% English-only · Other Indo-European 10% Russian/Polish/Slavic 4% Spanish 4%

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: ▼ -483.62%
• Current HPI: 332.6271
• Rent YoY: ▼ -2.89%
• 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

+184.9% since first listed

33 events — show timeline

• 2026-04-27 Listed $339,000 CRMLS
• 2026-01-26 Listing Removed — CRMLS
• 2025-03-24 Price Changed $349,000 CRMLS
• 2025-02-05 Listed $329,000 CRMLS
• 2025-01-22 Listing Removed — CRMLS
• 2024-02-01 Listed $449,000 CRMLS
• 2020-11-23 Listing Removed — CRMLS
• 2020-09-10 Listed $179,000 CRMLS
• 2019-10-28 Listing Removed — CRMLS
• 2019-10-21 Price Changed $169,900 CRMLS
• 2019-09-25 Price Changed $176,000 CRMLS
• 2019-05-20 Price Changed $198,000 CRMLS
• 2019-04-02 Listed $229,000 CRMLS
• 2017-08-19 Listing Removed — CRMLS
• 2017-07-28 Relisted — CRMLS
• 2017-06-27 Delisted — CRMLS
• 2017-06-01 Price Changed $175,000 CRMLS
• 2017-05-28 Relisted — CRMLS
• 2017-04-27 Delisted — CRMLS
• 2017-01-29 Listed $299,000 CRMLS
• 2015-09-02 Sold (MLS) $90,000 CRMLS
• 2015-07-30 Pending — CRMLS
• 2015-06-29 Listed $98,000 CRMLS
• 2015-03-10 Sold (MLS) $97,000 CRMLS
• 2015-02-06 Pending — CRMLS
• 2015-01-08 Price Changed $99,000 CRMLS
• 2014-10-23 Listed $119,000 CRMLS
• 2014-10-22 Listing Removed — CRMLS
• 2014-10-22 Listed $119,000 CRMLS
• 2007-06-18 Delisted — TheMLS
• 2006-07-21 Listed — TheMLS
• 2005-04-01 Delisted — TheMLS
• 2004-12-13 Listed — TheMLS

Property tax history

+6.7%/yr

Latest (2025): $675 · +6.7% YoY. Source: county tax records.