9080 Bloomfield #108

Cypress, CA 90630

$190,000B-

3 bd · 2.0 ba · 1,322 sqft · Built 2021 · Manufactured · Active · 80 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,465/mo
• Mortgage (P&I): −$996
• Tax + insurance: −$159
• HOA: −$0
• Vac / Maint / Mgmt: −$728
• Net cashflow: $1,582/mo
• Annual: $18,986/yr
• Cap rate: 16.29%
• Cash-on-cash: 35.69%
• DSCR: 2.59
• 1% rule: 1.82%
• Cash to close: $53,200

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $190k. Condition is rated fair.
• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• It's been on market 80 days — a 6% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $179k (6.0% below list) — sets the bar for market timing.
• 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.
• Location reads 74/100 on livability (#141 in CA, #4,900 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, employment A+, commute A; Watch: health & safety D, cost of living F.
• Cypress Elementary (suburban): math 67% / reading 69% proficiency, ranked #117 of 1,400 in CA (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.7%/yr); 70 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 6,974 units permitted in Orange County in 2024 (3,839 in 5+ unit buildings).
• Orange County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 5 sale attempts since 3y 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.
• At projected returns (-3.0% appreciation + 1.7% rent growth), your $53k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 16.3% vs local median 2.2% in Cypress — 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 ($130k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: exterior siding — Significant wear and tear
• Major: concrete porch — Visible cracks and wear
• Major: interior walls — Peeling paint