2320 Angler Ave · Lake Isabella, CA 93240

$210,000

2 bd · 2.0 ba · 1,152 sqft · Manufactured public records · 35 Days on market

Manufactured home Built 1975 0.47 ac lot

---

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).

• Appreciation +7.8/10.0
• ARV discount +7.5/15.0
• Cash flow +6.6/30.0
• Schools +2.6/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.9/10.0
• DSCR +0.9/10.0

Listing remarks

Perched on the high point of the parcel, this manufactured home offers mountain views and endless possibilities. The main home features 2 bedrooms and 2 bathrooms, with charming details like a built-in hutch in the dining area and a large wood-burning stove for cozy evenings. A detached guest quarters with a bath adds flexibility for visitors, a home office, or creative space. The property includes a huge 30x50 metal garage equipped with heating, cooling, and 220-volt electricity-perfect for projects, storage, or hobbies. While the home needs some TLC and was previously a rental, it presents an incredible opportunity to customize and add value. Roof was just re-coated and deck partial pain

Key facts

• Huge metal garage
• Convenient location
• Mountain views

Tags

• MOUNTAIN VIEWS
• DETACHED GUEST QUARTERS
• HUGE METAL GARAGE
• EXPANSIVE COVERED DECK
• CONVENIENT LOCATION

Property features AI

Exterior

• Parking: Heated garage; 5-car garage
• Utilities: Propane; Septic tank
• Home design: Manufactured double-wide home; Residential property; Fixer-upper classification; Zoned R-1 MH
• Construction: Permanent foundation
• Exterior features: Deck; Fenced yard; Landscaped lot; Has a view; Workshop; RV/Boat storage

Interior

• Kitchen: Range; Oven; Dishwasher not listed; Refrigerator; Disposal
• Flooring: Carpet; Linoleum
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Wood stove; Wood heating source; Window units for cooling; Ceiling fans; Evaporative cooling
• Interior features: Window coverings; Disposal; Range; Oven; Refrigerator; Gas water heater
• Laundry & utility: Washer and dryer included; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $210k.

Deal economics

• At list price, monthly cash flow is $-345 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $149k (29.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $123k (41.3% below list).
• Recommended offer: $123k (41.3% below list) — sets the bar for 1% rule.
• Cap rate 4.3% vs local median 7.4% in Lake Isabella — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 52/100 on livability (#999 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A, cost of living B+; Watch: crime C-, amenities F, commute F.
• Kernville Union Elementary (rural): math 20% / reading 37% proficiency, ranked #1,128 of 1,400 in CA (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Woodrow W. Wallace Elementary (418 students, 86% FRL); Woodrow Wallace Middle (273 students, 81% FRL); Kern Valley High (reading 75%, 466 students, 72% FRL).
• Market conditions: 134 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 3,244 units permitted in Kern County in 2024 (73 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($1k loan paydown + $12k appreciation (5.5% local appreciation)).
• Kern County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($204k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $137k; list at $210k implies a 53% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 11→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,200 (41.3% 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 35 days. Have you received any prior offers? Is the seller open to a 41% concession, seller financing, or rate buy-down credit?
3. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.59% ✗
• Cap rate: 4.32%
• Cash-on-cash: -7.05%
• DSCR: 0.69
• GRM: 14.2

CMA / ARV

• ARV (on-the-fly): $87,552
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2325 Harnage St	0.67mi	2/1.5	1,130 (-2%)	4mo	$68,000	$60	60
1819 Bernie Dr	0.52mi	2/2.0	1,056 (-8%)	10mo	$82,000	$78	54
2617 Crestview Ave	0.60mi	2/2.0	1,248 (+8%)	9mo	$67,500	$54	50
2418 Mason Ct	0.55mi	3/2.0 (+1)	1,248 (+8%)	17mo	$95,000	$76	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

5.55% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.5%
• Equity multiple: 1.56×
• Total profit: $33,003
• Equity at exit: $126,091

10-year hold

• IRR: 10.1%
• Equity multiple: 2.97×
• Total profit: $115,802
• Equity at exit: $223,715

Cash invested: $58,800 (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 93240

• Home prices YoY: 1.6%
• Active inventory: 134
• Price-to-rent: 14.2×

Monthly cashflow live

• Estimated rent: $1,232 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$130 /mo · $1,559/yr
• Insurance: −$88
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $-345

Break-even live

Break-even rent $1,669

Max offer price $148,986

Occupancy floor —

Sensitivity live

Price	-10% $-227	-5% $-286	+0% $-345	+5% $-405	+10% $-464
Rent	-10% $-443	-5% $-394	+0% $-345	+5% $-297	+10% $-248
Rate	-1.0pp $-240	-0.5pp $-292	base $-345	+0.5pp $-400	+1.0pp $-455

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
121 Larch Ct Bodfish, CA	2.0	2.0	1440	$1,600	$1.11	0d	1	1.40mi

Listing history 19 events

1. 2026-06-23
   days on market $210,000 Active 35 DOM
2. 2026-06-21
   days on market $210,000 Active 34 DOM
3. 2026-06-18
   days on market $210,000 Active 31 DOM
4. 2026-06-17
   days on market $210,000 Active 30 DOM
5. 2026-06-16
   days on market $210,000 Active 29 DOM
6. 2026-06-15
   days on market $210,000 Active 28 DOM
7. 2026-06-14
   days on market $210,000 Active 26 DOM
8. 2026-06-13
   days on market $210,000 Active 25 DOM
9. 2026-06-10
   days on market $210,000 Active 23 DOM
10. 2026-06-09
    days on market $210,000 Active 22 DOM
11. 2026-06-08
    days on market $210,000 Active 21 DOM
12. 2026-06-07
    days on market $210,000 Active 20 DOM
13. 2026-06-05
    days on market $210,000 Active 17 DOM
14. 2026-06-03
    days on market $210,000 Active 16 DOM
15. 2026-06-03
    days on market $210,000 Active 15 DOM
16. 2026-06-01
    days on market $210,000 Active 14 DOM
17. 2026-05-31
    days on market $210,000 Active 13 DOM
18. 2026-05-15
    listed $210,000 Active
19. 2007-11-16
    soldstatus $137,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $1,559 · $130/mo
• Projected year-2 tax: $1,596 · $133/mo
• Expected delta: +$37/yr (+$3/mo · 2.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 9/10 Extreme
• 🌡 Heat 7/10 Severe 11 d/yr ≥93°F today · 30 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 24 unhealthy d/yr today · 30 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,784
• − Mortgage interest: −$11,763
• − Property taxes: −$1,559
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,183
• − Management: −$1,183
• − Depreciation: −$6,109
• Taxable loss: −$8,063
• Est. tax savings @ 24.0%: +$1,935
• After-tax cash flow: $-2,210/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: Kernville Union Elementary
• NCES district ID: 0619590
• Math proficiency: 20% ▲ 4.00%
• Reading proficiency: 37% ▲ 11.00%
• Median HH income: $29,896
• Composite: 25.91/100
• National rank: #12766
• State rank: #1128 of 1400 in CA

Livability — Lake Isabella

• Score: 52/100
• State rank: #999
• US rank: #24814

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Isabella, CA
• City population: 5,622
• Population (ZIP): 5,622

Population outlook (Kern County) Hauer SSP2

• Today (2025): 947,286 people
• By 2030: 978,984 · +3.3%
• By 2040: 1,045,018 · +10.3%
• By 2050: 1,105,232 · +16.7%
• By 2075: 1,229,538 · +29.8%
• By 2100: 1,238,059 · +30.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 13% Two or more races 5% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Italian 3% Portuguese 2% Iranian 2%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 93% English-only · Spanish 4% Korean 1% Other Asian/Pacific 1%

Political lean MEDSL · Kern

• 2024 margin: Strong R (+21.1) · D 38.2% · R 59.3% · Other 2.5%
• 2008→2024 swing: -3.3pp toward R · 2008: -17.8pp · 2024: -21.1pp
• All cycles: 2024: R+21.1 2020: R+10.2 2016: R+15.0 2012: R+20.9 2008: R+17.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.55%
• Current HPI: 341.2481
• Rent YoY: —
• Metro: —
• 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

+53.3% since first listed

2 events — show timeline

• 2026-05-15 Listed $210,000 SSMLS
• 2007-11-16 Sold (Public Records) $137,000 Public Records

Property tax history

+7.7%/yr

Latest (2025): $1,559 · +1.0% YoY. Source: county tax records.