43850 E 20th St #230 · Lancaster, CA 93535

$190,000

4 bd · 2.0 ba · 1,680 sqft · Manufactured · 7 Days on market

Built 1978 3,800 sqft lot Est $185k · at est.

---

Why this score? — see what drove the B- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +6.2/15.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

''Forget everything you think you know about mobile homes--this beautifully upgraded home is in a class of its own. With extensive recent improvements and meticulous maintenance, it must be seen in person to be fully appreciated!'' Pride of ownership shines throughout this beautifully maintained home! This is not your typical mobile home--it is truly a must-see. Featuring a brand-new Bosch A/C and heating system less than a year old, a newly constructed carport, new flooring and baseboards throughout, and professionally updated landscaping completed less than four months ago. Additional upgrades include new lighting fixtures with dimmer switches throughout the home and a brand-new 9,000 BTU

Key facts

• Brand-new bosch a/c
• New flooring
• New refrigerator

Tags

• BRAND-NEW BOSCH A/C
• NEWLY CONSTRUCTED CARPORT
• NEW FLOORING
• NEW LIGHTING FIXTURES
• NEW DISHWASHER
• NEW REFRIGERATOR

Property features AI

Finance

• Other: APN 2222-222-222; Serial/ID A20730306L; Label/Insignia 076914; Dec number LAY4845; New space rent and park deposit: contact manager
• HOA & community: All-ages mobile home park; Park manager on site

Exterior

• Utilities: Natural gas
• Home design: Manufactured/mobile home (Ramada); Skirted; Located in space/trailer number 230
• Construction: Composition shingle roof; Manufactured 1978; 11 ft width, 64 ft length
• Exterior features: Awning; Shed; Siding; Mobile home park recreation area; Clubhouse/rec room; Community pool; Community tennis court

Interior

• Kitchen: Dishwasher; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (natural gas); Baseboard heating; Central air; Window AC
• Interior features: Dishwasher; Refrigerator

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $190k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• Cap rate 13.2% 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-, schools F, crime 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.
• Market conditions: Rents flat; 1169 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals leasing fast (median 4d 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 $3,046/mo this rent would consume 52% 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 $53k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 20y 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.

Risks & watch-outs

• Climate carrying-cost: major 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 $190,000

Questions for the listing agent

1. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 1.60% ✓
• Cap rate: 13.20%
• Cash-on-cash: 24.66%
• DSCR: 2.10
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $184,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
43850 20th St E #276	0.00mi	4/2.0	1,690 (+1%)	20mo	$185,000	$109	82
2330 E Avenue J8 #245	0.28mi	3/2.0 (-1)	1,680 (0%)	5mo	$170,000	$101	78
43850 N 20th Street East #238	0.11mi	4/2.0	1,500 (-11%)	5mo	$175,000	$117	73
43850 E 20th St #42	0.00mi	4/2.0	1,536 (-9%)	17mo	$165,000	$107	72
43850 E 20th St Spc 114	0.11mi	4/2.0	1,440 (-14%)	1mo	$129,900	$90	70
2330 E Avenue J8 #178	0.29mi	3/2.0 (-1)	1,536 (-9%)	7mo	$158,000	$103	62
43850 20th St E #231	0.00mi	4/3.0	1,440 (-14%)	15mo	$129,000	$90	60
43850 E 20 St #251	0.18mi	4/2.0	1,440 (-14%)	13mo	$180,000	$125	57
43850 E 20th St St E #248	0.15mi	3/2.0 (-1)	1,440 (-14%)	15mo	$165,000	$115	52
2330 E Avenue J8 Spc 55	0.28mi	4/2.0	1,456 (-13%)	15mo	$160,000	$110	52
43850 20th St E #157	0.18mi	3/2.0 (-1)	1,440 (-14%)	15mo	$170,000	$118	50
2330 E Avenue J 8 #87	0.28mi	3/2.0 (-1)	1,450 (-14%)	20mo	$175,000	$121	43

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: 14.8%
• Equity multiple: 1.57×
• Total profit: $30,367
• Equity at exit: $28,330

10-year hold

• IRR: 21.2%
• Equity multiple: 2.57×
• Total profit: $83,267
• Equity at exit: $16,428

Cash invested: $53,200 (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: 1169
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $3,046 high
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$238 /mo · $2,850/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$640
• Net cashflow: $1,093

Break-even live

Break-even rent $1,662

Max offer price $190,000

Occupancy floor 59%

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
43837 David St Lancaster, CA	3.0	2.0	1300	$2,450	$1.88	1d	1	0.18mi
43658 Rogier St Lancaster, CA	3.0	2.0	1424	$2,450	$1.72	1d	1	0.41mi
43833 Serenity Ct Lancaster, CA	3.0	2.0	1080	$2,470	$2.29	10d	1	0.44mi
43833 Serenity Ct Lancaster, CA	3.0	2.0	1080	$2,470	$2.29	1d	1	0.44mi
43501 Oleander St Lancaster, CA	3.0–4.0	2.0–3.0	1477	$4,007	$2.71	1d	1	0.56mi
1743 , CA	1.0–4.0	1.0–2.0	934	$2,464	$2.64	1d	17	0.59mi
43739 27th St E Lancaster, CA	4.0	2.0	1494	$3,500	$2.34	3d	1	0.65mi
5806 Unit K Lancaster, CA	3.0	2.0	1541	$2,699	$1.75	10d	1	0.67mi
1545 E Avenue J5 Lancaster, CA	3.0	2.0	1741	$2,899	$1.67	1d	1	0.68mi
2500 Topaz Ln Lancaster, CA	3.0	2.0	1274	$2,800	$2.20	24d	1	0.76mi
43770 Santa Rosa Cir Lancaster, CA	3.0	2.0	1551	$3,200	$2.06	1d	1	0.78mi
43770 Santa Rosa Cir Lancaster, CA	3.0	2.0	1551	$3,200	$2.06	2d	1	0.78mi
43702 Rembrandt St Lancaster, CA	3.0	2.0	1272	$2,500	$1.97	19d	1	0.82mi
2826 San Ramon Dr Lancaster, CA	4.0	2.0	1658	$2,975	$1.79	19d	1	0.85mi
4364 East Avenue J6 Unit J6 Lancaster, CA	4.0	3.0	2020	$3,000	$1.49	5d	1	0.86mi
2835 La Vida Dr Lancaster, CA	3.0	2.0	1206	$2,750	$2.28	22d	1	0.86mi
43632 San Francisco Ave Lancaster, CA	3.0	2.0	1130	$2,500	$2.21	1d	1	0.89mi
1647 Orchid Ln Lancaster, CA	3.0	3.0	1084	$1,950	$1.80	22d	1	0.98mi
2624 Via Verona Lancaster, CA	3.0	2.5	1563	$2,900	$1.86	1d	1	1.01mi
2636 Via Verona Lancaster, CA	5.0	2.5	2019	$3,800	$1.88	4d	1	1.02mi
3145 E Avenue K2 Lancaster, CA	4.0	3.0	2098	$3,400	$1.62	3d	1	1.20mi
1253 Morven St Lancaster, CA	4.0	2.0	1813	$2,995	$1.65	15d	1	1.20mi
43516 32nd St E Lancaster, CA	3.0	2.0	1280	$2,600	$2.03	11d	1	1.22mi
44707 Cerisa St Lancaster, CA	4.0	2.0	1714	$3,000	$1.75	10d	1	1.23mi
44709 26th St E Lancaster, CA	3.0	2.0	1316	$2,300	$1.75	18d	1	1.26mi
1734 Lightcap St Lancaster, CA	3.0	2.0	1467	$2,700	$1.84	1d	1	1.28mi
44243 Mahogany St Lancaster, CA	3.0	2.0	1800	$950	$0.53	22d	1	1.34mi
718 E Avenue J4 Lancaster, CA	4.0	2.0	1738	$2,885	$1.66	1d	1	1.41mi
44732 12th St E Lancaster, CA	3.0	2.0	1426	$2,600	$1.82	15d	1	1.43mi
3264 Topaz Ln Lancaster, CA	3.0	2.0	1750	$3,299	$1.89	1d	1	1.44mi
44755 Jefferson Ct Lancaster, CA	5.0	2.0	1405	$4,100	$2.92	1d	1	1.46mi
766 E Pillsbury St Lancaster, CA	5.0	2.0	1604	$2,500	$1.56	11d	1	1.50mi

Listing history 3 events

1. 2026-06-18
   days on market $190,000 Active 7 DOM
2. 2026-06-17
   remarks 699-char remark
3. 2026-06-17
   listed $190,000 Active 6 DOM

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 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: $36,552
• − Mortgage interest: −$10,643
• − Property taxes: −$2,850
• − Insurance: −$950
• − Repairs & maintenance: −$2,924
• − Management: −$2,924
• − Depreciation: −$5,527
• Taxable income: $10,733
• Est. tax owed @ 24.0%: −$2,576
• After-tax cash flow: $10,543/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: 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

+115.9% since first listed

9 events — show timeline

• 2026-06-11 Listed $190,000 AVMLS
• 2019-03-01 Listing Removed — AVMLS
• 2019-02-17 Relisted — AVMLS
• 2019-02-07 Pending — AVMLS
• 2019-01-11 Listed $59,000 AVMLS
• 2015-03-27 Listing Removed — AVMLS
• 2007-02-17 Listing Removed — CRMLS
• 2006-04-24 Listed $88,000 AVMLS
• 2006-04-24 Listed $88,000 CRMLS