690 W Hermosa St #20 · Lindsay, CA 93247

$30,000

2 bd · 1.0 ba · 720 sqft · Manufactured · 218 Days on market

Built 1973 Fair condition ↓ 14% since listing

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.4/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 bed 2 bath manufactured home in park current owner has maintained in great shape. park is very quiet great for any one 55 years or older with no kids. manufacture home is being sold as is.

Key facts

• Built 1973
• Listed 217 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $30k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $872 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Recommended offer: $26k (12.0% below list) — sets the bar for market timing.
• Cap rate 41.2% vs local median 2.9% in Lindsay — 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 52/100 on livability (#1,023 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A; Watch: cost of living C-, crime D+, schools D.
• Lindsay Unified (town): math 30% / reading 47% proficiency, ranked #834 of 1,400 in CA (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 53 active listings in the ZIP; 1,447 units permitted in Tulare County in 2024 (307 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $207 of loan paydown is wiped out by about $900 of value loss. Plan a longer hold.
• Tulare County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 218 days — a 12% lower offer ($26k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 6→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $26,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 218 days. Have you received any prior offers? Is the seller open to a 12% 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. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is D 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 4.55% ✓
• Cap rate: 41.17%
• Cash-on-cash: 124.56%
• DSCR: 6.54
• GRM: 1.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 7.03×
• Total profit: $50,691
• Equity at exit: $4,473

10-year hold

• IRR: —
• Equity multiple: 14.78×
• Total profit: $115,731
• Equity at exit: $2,594

Cash invested: $8,400 (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 93247

• Active inventory: 53
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $1,366 medium
• Mortgage (P&I): −$157
• Tax est. 1.5%: −$38 /mo · $450/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $872

Break-even live

Break-even rent $262

Max offer price $30,000

Occupancy floor 31%

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $30,000 Active 218 DOM
2. 2026-06-18
   days on market $30,000 Active 217 DOM
3. 2026-06-17
   days on market $30,000 Active 216 DOM
4. 2026-06-16
   days on market $30,000 Active 215 DOM
5. 2026-06-15
   days on market $30,000 Active 214 DOM
6. 2026-06-14
   days on market $30,000 Active 212 DOM
7. 2026-06-12
   days on market $30,000 Active 211 DOM
8. 2026-06-09
   days on market $30,000 Active 208 DOM
9. 2026-06-08
   days on market $30,000 Active 207 DOM
10. 2026-06-07
    days on market $30,000 Active 206 DOM
11. 2026-06-05
    days on market $30,000 Active 204 DOM
12. 2026-06-04
    days on market $30,000 Active 202 DOM
13. 2026-06-02
    days on market $30,000 Active 201 DOM
14. 2026-06-01
    days on market $30,000 Active 200 DOM
15. 2026-05-31
    days on market $30,000 Active 199 DOM
16. 2026-05-31
    days on market $30,000 Active 198 DOM
17. 2026-01-14
    price $30,000 191-char remark

    Show marketing remark (191 chars)

    2 bed 2 bath manufactured home in park current owner has maintained in great shape. park is very quiet great for any one 55 years or older with no kids. manufacture home is being sold as is.

18. 2025-11-11
    listed $35,000 Active 191-char remark

    Show marketing remark (191 chars)

    2 bed 2 bath manufactured home in park current owner has maintained in great shape. park is very quiet great for any one 55 years or older with no kids. manufacture home is being sold as is.

ⓘ 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 8/10 Severe 6 d/yr ≥105°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 39 unhealthy d/yr today · 43 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,393
• − Mortgage interest: −$1,680
• − Property taxes: −$450
• − Insurance: −$150
• − Repairs & maintenance: −$1,311
• − Management: −$1,311
• − Depreciation: −$873
• Taxable income: $10,617
• Est. tax owed @ 24.0%: −$2,548
• After-tax cash flow: $7,915/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 · 3 photos

Fair 45/100 Cosmetic rehab

This manufactured home is in fair condition with cosmetic repairs needed, primarily to the exterior and landscaping. Painting and landscaping would significantly enhance its curb appeal and value.

Repairs flagged

• Minor Painting — Exterior siding shows some discoloration
• Minor Landscaping — Some overgrown plants

Value-add opportunities

• Both Painting exterior siding — Enhances curb appeal and value
• Both Landscaping — Improves curb appeal and enhances property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Painting · Exterior siding shows some discoloration	Minor	$500–3,000
Landscaping · Some overgrown plants	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Painting exterior siding — Enhances curb appeal and value ↑
• Both Landscaping — Improves curb appeal and enhances property value ↑

ⓘ 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: Lindsay Unified
• NCES district ID: 0621870
• Math proficiency: 30% ▲ 6.00%
• Reading proficiency: 47% ▲ 6.00%
• Median HH income: $33,662
• Composite: 34.15/100
• National rank: #10270
• State rank: #834 of 1400 in CA

Livability — Lindsay

• Score: 52/100
• State rank: #1023
• US rank: #24985

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lindsay, CA
• City population: 17,967
• Population (ZIP): 17,967

Population outlook (Tulare County) Hauer SSP2

• Today (2025): 484,681 people
• By 2030: 496,241 · +2.4%
• By 2040: 518,507 · +7.0%
• By 2050: 534,920 · +10.4%
• By 2075: 548,417 · +13.2%
• By 2100: 513,085 · +5.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (84%)
• Race & ethnicity: Hispanic / Latino 84% Two or more races 25% White 14% Native American 1%
• Hispanic origin (detail): Mexican 79%
• Common ancestry: Russian 1%
• Foreign-born: 33% · Canada
• Languages at home: 29% English-only · Spanish 71%

Political lean MEDSL · Tulare

• 2024 margin: Strong R (+20.7) · D 38.5% · R 59.2% · Other 2.3%
• 2008→2024 swing: -5.4pp toward R · 2008: -15.3pp · 2024: -20.7pp
• All cycles: 2024: R+20.7 2020: R+7.8 2016: R+12.1 2012: R+17.8 2008: R+15.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -238.85%
• Current HPI: 358.3335
• Rent YoY: —
• Metro: —
• 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

-14.3% since first listed

2 events — show timeline

• 2026-01-14 Price Changed $30,000 TCMLS
• 2025-11-11 Listed $35,000 TCMLS