4201 Topanga Canyon Blvd #21 · Topanga, CA 91364

$299,000

2 bd · 2.0 ba · 960 sqft · Manufactured public records · 77 Days on market

Manufactured home Built 2005 $311/sqft · 11% above area Est $270k · 11% over

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Why this score? — see what drove the F 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 +10.7/30.0
• Schools +6.0/10.0
• 1% rule +3.1/10.0
• DSCR +3.1/10.0
• Livability +2.8/5.0
• ARV discount +2.7/15.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully maintained 2005 Cavco home offering 2 bedrooms and 2 bathrooms, with both bedrooms designed as private primary suites. Ideally located in the hills of Woodland Hills with beautiful mountain views, this home combines peaceful living with unbeatable convenience—just minutes from the 101 freeway, Westfield Topanga, The Village, restaurants, grocery stores, hiking trails, and only about 15 minutes to Topanga Beach. Positioned in an elevated area of the community, this home enjoys added privacy, scenic views, and a more tucked-away setting from the rest of the neighborhood, creating a peaceful retreat-like atmosphere. Inside, enjoy a bright and functional layout with new AC split systems in every room for year-round comfort. The home offers an ideal setup for guests, roommates, or flexible living with dual ensuite-style bedrooms. Located within the highly sought-after Las Virgenes Unified School District, this community features resort-style amenities including a pool, clubhouse with pool tables, library, guest parking, and a chef’s kitchen available for private events and gatherings. A rare opportunity to enjoy close-to-coast living, mountain views, and easy city access at an affordable price point. Land lease applies of $1,292.87.

Key facts

• Guest parking
• New ac split systems
• Community pool

Tags

• NEW AC SPLIT SYSTEMS
• RESORT-STYLE AMENITIES
• CLUBHOUSE WITH POOL TABLES
• COMMUNITY POOL
• LIBRARY
• GUEST PARKING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $299k.

Deal economics

• At list price, monthly cash flow is $-142 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $278k (6.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $244k (18.5% below list).
• Recommended offer: $244k (18.5% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 2.6% in Topanga — 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 55/100 on livability (#846 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: Chaparral Elementary (math 75% / reading 75%, grade A, #91 of 1,571 statewide, top 6%, 537 students, 18% FRL); 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 (-0.5%/yr); 185 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% 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 $9k 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 77 days — a 6% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 17y ago; this cycle's ask has dropped $30k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $243,584 (18.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
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 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?
6. 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?
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: 0.81% ✗
• Cap rate: 5.72%
• Cash-on-cash: -2.04%
• DSCR: 0.91
• GRM: 10.2

CMA / ARV

• ARV (median comp): $270,000
• List price: $299,000
• Delta: 10.74%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4201 Topanga Canyon Blvd #62	0.07mi	2/2.0	1,050 (+9%)	3mo	$270,000	$257	78
4201 Topanga Canyon Blvd #110	0.00mi	3/2.0 (+1)	1,027 (+7%)	13mo	$360,000	$351	72
4201 Topanga Canyon Blvd #23	0.07mi	2/2.0	1,040 (+8%)	14mo	$329,000	$316	71

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -23.1%
• Equity multiple: 0.23×
• Total profit: $-64,597
• Equity at exit: $44,582

10-year hold

• IRR: -28.3%
• Equity multiple: -0.14×
• Total profit: $-95,335
• Equity at exit: $25,852

Cash invested: $83,720 (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 91364

• Rents YoY: -0.5%
• Active inventory: 185
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $2,436 high
• Mortgage (P&I): −$1,568
• Tax est. 1.5%: −$374 /mo · $4,485/yr
• Insurance: −$125
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$512
• Net cashflow: $-142

Break-even live

Break-even rent $2,616

Max offer price $278,451

Occupancy floor —

Sensitivity live

Price	-10% $65	-5% $-39	+0% $-142	+5% $-245	+10% $-349
Rent	-10% $-334	-5% $-238	+0% $-142	+5% $-46	+10% $50
Rate	-1.0pp $9	-0.5pp $-66	base $-142	+0.5pp $-219	+1.0pp $-298

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21727 Planewood Dr Unit 1 Woodland Hills, CA	1.0	1.0	525	$2,450	$4.67	46d	1	0.51mi
4532 Ensenada Dr Woodland Hills, CA	2.0	1.0	800	$2,590	$3.24	10d	1	0.75mi
22237 Buenaventura St Unit 2 Woodland Hills, CA	1.0	1.0	892	$3,299	$3.70	46d	1	0.76mi
4973 Topanga Canyon Blvd Woodland Hills, CA	2.0	1.0	890	$2,850	$3.20	46d	1	0.97mi
4406 Coloma Ave Woodland Hills, CA	2.0	2.0	830	$3,395	$4.09	46d	1	1.02mi
5020 Topanga Canyon Blvd Woodland Hills, CA	2.0	1.0	800	$3,700	$4.62	7d	1	1.04mi
22025 Lopez St Woodland Hills, CA	2.0	1.0	927	$4,250	$4.58	27d	1	1.12mi
5046 Cerrillos Dr Woodland Hills, CA	1.0	1.0	720	$2,890	$4.01	1d	1	1.13mi
4401 Willens Ave Woodland Hills, CA	1.0	1.0	695	$2,150	$3.09	46d	1	1.16mi

Listing history 30 events

1. 2026-06-22
   days on market $299,000 Active 77 DOM
2. 2026-06-21
   days on market $299,000 Active 76 DOM
3. 2026-06-18
   days on market $299,000 Active 73 DOM
4. 2026-06-17
   days on market $299,000 Active 72 DOM
5. 2026-06-16
   days on market $299,000 Active 71 DOM
6. 2026-06-15
   days on market $299,000 Active 70 DOM
7. 2026-06-13
   days on market $299,000 Active 68 DOM
8. 2026-06-13
   days on market $299,000 Active 67 DOM
9. 2026-06-09
   days on market $299,000 Active 64 DOM
10. 2026-06-08
    days on market $299,000 Active 63 DOM
11. 2026-06-07
    days on market $299,000 Active 62 DOM
12. 2026-06-04
    days on market $299,000 Active 59 DOM
13. 2026-06-03
    days on market $299,000 Active 58 DOM
14. 2026-06-02
    days on market $299,000 Active 57 DOM
15. 2026-06-01
    days on market $299,000 Active 56 DOM
16. 2026-05-31
    days on market $299,000 Active 55 DOM
17. 2026-04-29
    price $299,000 1271-char remark

    Show marketing remark (1271 chars)

    Beautifully maintained 2005 Cavco home offering 2 bedrooms and 2 bathrooms, with both bedrooms designed as private primary suites. Ideally located in the hills of Woodland Hills with beautiful mountain views, this home combines peaceful living with unbeatable convenience—just minutes from the 101 freeway, Westfield Topanga, The Village, restaurants, grocery stores, hiking trails, and only about 15 minutes to Topanga Beach. Positioned in an elevated area of the community, this home enjoys added privacy, scenic views, and a more tucked-away setting from the rest of the neighborhood, creating a peaceful retreat-like atmosphere. Inside, enjoy a bright and functional layout with new AC split systems in every room for year-round comfort. The home offers an ideal setup for guests, roommates, or flexible living with dual ensuite-style bedrooms. Located within the highly sought-after Las Virgenes Unified School District, this community features resort-style amenities including a pool, clubhouse with pool tables, library, guest parking, and a chef’s kitchen available for private events and gatherings. A rare opportunity to enjoy close-to-coast living, mountain views, and easy city access at an affordable price point. Land lease applies of $1,292.87.

18. 2026-04-06
    listed $329,000 Active 1271-char remark

    Show marketing remark (1271 chars)

    Beautifully maintained 2005 Cavco home offering 2 bedrooms and 2 bathrooms, with both bedrooms designed as private primary suites. Ideally located in the hills of Woodland Hills with beautiful mountain views, this home combines peaceful living with unbeatable convenience—just minutes from the 101 freeway, Westfield Topanga, The Village, restaurants, grocery stores, hiking trails, and only about 15 minutes to Topanga Beach. Positioned in an elevated area of the community, this home enjoys added privacy, scenic views, and a more tucked-away setting from the rest of the neighborhood, creating a peaceful retreat-like atmosphere. Inside, enjoy a bright and functional layout with new AC split systems in every room for year-round comfort. The home offers an ideal setup for guests, roommates, or flexible living with dual ensuite-style bedrooms. Located within the highly sought-after Las Virgenes Unified School District, this community features resort-style amenities including a pool, clubhouse with pool tables, library, guest parking, and a chef’s kitchen available for private events and gatherings. A rare opportunity to enjoy close-to-coast living, mountain views, and easy city access at an affordable price point. Land lease applies of $1,292.87.

19. 2012-08-24
    historical Cancelled
20. 2011-09-02
    status Active
21. 2011-09-02
    historical Expired
22. 2011-07-17
    price
23. 2011-07-17
    listed Active
24. 2011-01-18
    historical
25. 2010-04-12
    price $137,500
26. 2010-01-18
    listed $145,000 Active
27. 2009-10-07
    historical
28. 2009-06-02
    price $155,000
29. 2009-04-09
    price $159,900
30. 2009-04-07
    listed $149,900

ⓘ 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 7/10 Severe
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°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: $29,230
• − Mortgage interest: −$16,749
• − Property taxes: −$4,485
• − Insurance: −$1,495
• − Repairs & maintenance: −$2,338
• − Management: −$2,338
• − Depreciation: −$8,698
• Taxable loss: −$6,874
• Est. tax savings @ 24.0%: +$1,650
• After-tax cash flow: $-54/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 — Topanga

• Score: 55/100
• State rank: #846
• US rank: #23336

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Topanga, CA
• County: Los Angeles County · 9,444,647 people
• City population: 6,315
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 27,748
• Household income: $132,854
• Rent vs Own: 29.1% rent · 70.9% own
• Severe rent burden: 899.0

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 0.57)
• Race & ethnicity: White 63% Hispanic / Latino 14% Two or more races 11% Asian 10% Black 5%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Scotch-Irish 4% Romanian 2% Lithuanian 2%
• Foreign-born: 26% · Canada, Vietnam, China
• Languages at home: 65% English-only · Other Indo-European 11% Spanish 8% Russian/Polish/Slavic 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: ▼ -776.49%
• Current HPI: 362.9341
• Rent YoY: ▼ -0.51%
• 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

+99.5% since first listed

14 events — show timeline

• 2026-04-29 Price Changed $299,000 CRMLS
• 2026-04-06 Listed $329,000 CRMLS
• 2012-08-24 Delisted — TheMLS
• 2011-09-02 Relisted — TheMLS
• 2011-09-02 Delisted — TheMLS
• 2011-07-17 Price Changed — TheMLS
• 2011-07-17 Listed — TheMLS
• 2011-01-18 Listing Removed — CRMLS
• 2010-04-12 Price Changed $137,500 CRMLS
• 2010-01-18 Listed $145,000 CRMLS
• 2009-10-07 Listing Removed — CRMLS
• 2009-06-02 Price Changed $155,000 CRMLS
• 2009-04-09 Price Changed $159,900 CRMLS
• 2009-04-07 Listed $149,900 CRMLS

Property tax history

+8.8%/yr

Latest (2025): $418 · +8.8% YoY. Source: county tax records.