50 80|50 Private Residence Club B6-2 Canyon Blvd B9-1 Unit B9-1

Mammoth Lakes, CA 93546

$32,000D+

1 bd · 2.0 ba · 1,287 sqft · Built 2006 · Timeshare · Active · 865 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,696/mo
• Mortgage (P&I): −$168
• Tax + insurance: −$136
• HOA: −$1,503
• Vac / Maint / Mgmt: −$566
• Net cashflow: $322/mo
• Annual: $3,867/yr
• Cap rate: 18.38%
• Cash-on-cash: 43.15%
• DSCR: 2.92
• 1% rule: 8.42%
• Cash to close: $8,960

Investor read

• This is a 1-bed/2.0-bath timeshare listed at $32k.
• At list price, monthly cash flow is $322 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $32k).
• It's been on market 865 days — a 12% lower offer ($28k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $28k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $221 of loan paydown is wiped out by about $960 of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#213 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, health & safety A; Watch: schools D, crime D, cost of living F.
• Mammoth Unified (town): math 37% / reading 52% proficiency, ranked #549 of 1,400 in CA (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: property tax is 4.6% of price; HOA is 56% of rent.
• Market conditions: 252 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 123 units permitted in Mono County in 2024 (76 in 5+ unit buildings).
• Mono County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 16y ago; this cycle's ask has dropped $38k (54%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $9k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 18.4% vs local median 1.3% in Mammoth Lakes — 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 31% of the median local income ($106k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 865 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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?
• 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?