17496 W Whitesbridge Ave Ave #8

Kerman, CA 93630

$29,900D

2 bd · 1.0 ba · 600 sqft · Built — · Manufactured · Active · 155 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,425/mo
• Mortgage (P&I): −$157
• Tax + insurance: −$50
• HOA: −$0
• Vac / Maint / Mgmt: −$299
• Net cashflow: $919/mo
• Annual: $11,032/yr
• Cap rate: 43.19%
• Cash-on-cash: 131.77%
• DSCR: 6.86
• 1% rule: 4.77%
• Cash to close: $8,372

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $30k. Condition is rated fair.
• At list price, monthly cash flow is $919 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• It's been on market 155 days — a 12% lower offer ($26k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $26k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $207 of loan paydown is wiped out by about $897 of value loss. Plan a longer hold.
• Location reads 56/100 on livability (#802 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: schools D, amenities F, commute F.
• Kerman Unified (town): math 21% / reading 40% proficiency, ranked #347 of 517 in CA (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 66 active listings in the ZIP; 2,426 units permitted in Fresno County in 2024 (296 in 5+ unit buildings).
• Fresno County population projected at +11% 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.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 43.2% vs local median 3.2% in Kerman — 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.

Questions for listing agent

• It's been on market 155 days. Have you received any prior offers? Is the seller open to a 12% 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 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?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — Significant wear and tear on the roof, indicating a need for replacement.
• Major: exterior siding — Weathered and damaged siding, requiring repair or replacement.
• Major: fence — Damaged and missing sections, requiring repair or replacement.
• Major: interior walls — Peeling paint and discoloration, indicating significant damage.
• Major: flooring — Old and possibly damaged flooring, requiring replacement.
• Major: bathroom fixtures — Outdated and worn fixtures, requiring replacement.