23701 S Western Ave #210 · Torrance, CA 90501

$99,000

3 bd · 2.0 ba · 1,060 sqft · Manufactured · 90 Days on market

Built 1971 16 ac lot $93/sqft · 13% below area Est $113k · 13% under

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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
• ARV discount +13.2/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.9/10.0
• Livability +3.8/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Space 210 in the highly sought-after Knolls Lodge community in Southeast Torrance! This move-in ready 3-bedroom, 2-bath home features a bright and inviting open floor plan in a prime location close to shopping, dining, and schools. The spacious living room flows seamlessly into the dining area and kitchen, showcasing laminate countertops, a stainless steel sink, ceiling fan, recessed lighting, and abundant windows that fill the home with natural light. Recent updates include fresh paint and newer flooring throughout. The front bedroom offers versatility for guests or a home office. Down the hallway, you’ll find a secondary bedroom, a remodeled three-quarter bath, and a private primary suite complete with a walk-in closet and an updated full bathroom. Additional features include in-home laundry, a covered two-car carport, and a convenient storage shed. Residents enjoy access to community amenities including two swimming pools, a recreation room, and beautifully maintained grounds, all within a pet-friendly neighborhood.

Key facts

• Open floor plan
• Ceiling fan
• Stainless steel sink

Tags

• OPEN FLOOR PLAN
• LAMINATE COUNTERTOPS
• STAINLESS STEEL SINK
• CEILING FAN
• RECESSED LIGHTING
• ABUNDANT WINDOWS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $99k.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $99k).
• Recommended offer: $93k (6.0% below list) — sets the bar for market timing.
• Cap rate 29.4% vs local median 2.1% in Torrance — 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 76/100 on livability (#95 in CA, #3,501 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: health & safety C-, crime D+, cost of living F.
• Torrance Unified (urban): math 62% / reading 67% proficiency, ranked #150 of 1,400 in CA (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Zoned schools: John Adams Elementary (357 students, 31% FRL); J. H. Hull Middle (622 students, 44% FRL); Torrance High (1,999 students, 30% FRL) — zoned schools average 35% FRL vs 20% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.2%/yr); 96 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• This rent runs 42% of the median local income ($93k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k 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 + 3.2% rent growth), your $28k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($93k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y ago; this cycle's ask has dropped $6k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; list at $99k implies a 80% gain — meaningful room to come down on a strong offer.

Recommended offer $93,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 3.32% ✓
• Cap rate: 29.44%
• Cash-on-cash: 82.66%
• DSCR: 4.68
• GRM: 2.5

CMA / ARV

• ARV (median comp): $113,241
• List price: $99,000
• Delta: -12.58%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23701 S Western Ave #231	0.01mi	3/2.0	1,080 (+2%)	10mo	$95,000	$88	88
23701 S Western Ave #7	0.07mi	3/2.0	1,040 (-2%)	11mo	$144,000	$138	84
23701 S Western Unit 78A	0.01mi	3/2.0	1,176 (+11%)	1mo	$160,000	$136	81
23701 S Western Ave #221	0.01mi	2/2.0 (-1)	1,140 (+8%)	2mo	$85,000	$75	80
23701 S Western Ave #202	0.01mi	2/2.0 (-1)	1,037 (-2%)	13mo	$180,900	$174	80
23701 S Western Ave #262	0.05mi	3/2.0	1,152 (+9%)	10mo	$154,900	$134	75
24200 Walnut #62	0.22mi	3/2.0	1,040 (-2%)	14mo	$80,000	$77	74
24200 Walnut St #64	0.22mi	3/2.0	1,108 (+4%)	12mo	$210,000	$190	73
23701 Western #258	0.01mi	3/1.0	960 (-9%)	11mo	$73,000	$76	71
23701 S Western #247	0.01mi	2/1.0 (-1)	950 (-10%)	6mo	$39,000	$41	68
24200 Walnut St #50	0.22mi	3/2.0	1,140 (+8%)	13mo	$225,000	$197	66
23701 S Western Ave #200	0.01mi	2/2.0 (-1)	936 (-12%)	15mo	$130,000	$139	62

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 · 3.25% rent growth · sell at horizon

5-year hold

• IRR: 83.3%
• Equity multiple: 4.84×
• Total profit: $106,448
• Equity at exit: $14,761

10-year hold

• IRR: 86.6%
• Equity multiple: 10.12×
• Total profit: $252,904
• Equity at exit: $8,560

Cash invested: $27,720 (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 90501

• Rents YoY: 3.2%
• Active inventory: 96
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $3,283 high
• Mortgage (P&I): −$519
• Tax est. 1.5%: −$124 /mo · $1,485/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$689
• Net cashflow: $1,909

Break-even live

Break-even rent $866

Max offer price $99,000

Occupancy floor 37%

Sensitivity live

Price	-10% $1,978	-5% $1,944	+0% $1,909	+5% $1,875	+10% $1,841
Rent	-10% $1,650	-5% $1,780	+0% $1,909	+5% $2,039	+10% $2,169
Rate	-1.0pp $1,959	-0.5pp $1,935	base $1,909	+0.5pp $1,884	+1.0pp $1,858

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2124 W 238th St Unit A Torrance, CA	2.0	2.0	750	$3,600	$4.80	18d	1	0.48mi
2128 W 238th St Unit A Torrance, CA	2.0	2.0	750	$3,500	$4.67	45d	1	0.48mi
24223 Ambassador Pl Harbor City, CA	3.0	2.0	1208	$3,800	$3.15	7d	1	0.49mi
2174 1st St Unit 237th St unit Torrance, CA	2.0	1.0	800	$2,500	$3.12	26d	1	0.56mi
1802 247th St Unit 1802 Lomita, CA	2.0	1.0	800	$3,200	$4.00	45d	1	0.64mi
24636 Eshelman Ave Lomita, CA	2.0	1.0	950	$2,950	$3.11	6d	1	0.66mi
24638 Eshelman Ave Unit 1/4 Lomita, CA	2.0	1.0	950	$2,950	$3.11	45d	1	0.66mi
1311 Sepulveda Blvd Torrance, CA	2.0–3.0	2.0	1201	$4,400	$3.66	1d	1	0.67mi
1567 W 228th St Torrance, CA	2.0	2.0	990	$3,200	$3.23	45d	1	0.68mi
1612 226th St Unit B Torrance, CA	2.0	1.0	850	$2,650	$3.12	45d	1	0.78mi
1570 W 226th St Torrance, CA	3.0	2.0	1200	$3,750	$3.12	23d	1	0.80mi
2757 Andreo Ave Torrance, CA	2.0	2.0	1100	$3,295	$3.00	45d	1	0.81mi
2757 Andreo Ave Unit 6 Torrance, CA	2.0	2.0	1100	$2,933	$2.67	4d	1	0.81mi
2757 Andreo Ave Unit 5 Torrance, CA	2.0	2.0	1100	$2,933	$2.67	23d	1	0.81mi
2757 Andreo Ave Unit 3 Torrance, CA	2.0	1.5	1100	$2,933	$2.67	5d	1	0.81mi
2757 Andreo Ave Unit 3 Torrance, CA	2.0	2.0	1100	$2,933	$2.67	13d	1	0.81mi
2757 Andreo Ave Unit 5 Torrance, CA	2.0	1.5	1100	$2,993	$2.72	13d	1	0.81mi
1533 Plaza del Amo Unit 4 Torrance, CA	2.0	1.0	978	$2,550	$2.61	0d	1	0.88mi
25018 Eshelman Ave Unit 9 Lomita, CA	2.0	2.5	1400	$3,295	$2.35	26d	1	0.89mi
25018 Eshelman Ave Lomita, CA	2.0	2.5	1400	$3,295	$2.35	45d	1	0.89mi
22423 Harvard Blvd Torrance, CA	3.0	1.0	1150	$3,750	$3.26	6d	1	0.89mi
22919 Mariposa Ave Torrance, CA	2.0–3.0	2.5–4.0	1480	$4,000	$2.70	45d	2	0.90mi
1435 Lomita Blvd #105 Harbor City, CA	3.0	2.0	1260	$3,250	$2.58	45d	1	0.92mi
1732 251st St Lomita, CA	3.0	1.0	1200	$4,000	$3.33	45d	1	0.93mi
25110 Eshelman Ave Lomita, CA	2.0	1.5	800	$2,245	$2.81	12d	1	0.95mi
2222 248th St Unit 2228 Lomita, CA	3.0	2.0	1199	$3,200	$2.67	9d	1	0.96mi
25021 Oak St Lomita, CA	3.0	2.0	1281	$3,995	$3.12	9d	1	0.96mi
24836 Narbonne Ave Lomita, CA	2.0	1.0	740	$2,995	$4.05	45d	1	0.96mi
1332 W 225th St Unit 1 Torrance, CA	2.0	1.0	900	$2,095	$2.33	45d	1	0.98mi
2758 Orange Ave Unit 10 Torrance, CA	2.0	1.5	950	$2,800	$2.95	14d	1	0.99mi
1918 252nd St Lomita, CA	3.0	2.0	1488	$3,900	$2.62	45d	1	1.01mi
2457 Lomita Blvd Lomita, CA	2.0	1.0–2.0	878	$5,036	$5.74	0d	14	1.02mi
2308 Cabrillo Ave Apt 8 Torrance, CA	2.0	2.0	950	$2,200	$2.32	9d	1	1.06mi
24410 Crenshaw Blvd Torrance, CA	2.0	2.0	1010	$2,795	$2.77	5d	1	1.10mi
2525 W 235th St Unit 10656A Torrance, CA	2.0	1.5	1073	$4,210	$3.92	45d	1	1.11mi
2545 W 235th St Torrance, CA	2.0	1.0–1.5	984	$3,325	$3.38	4d	5	1.15mi
25326 Oak St Unit 1 Lomita, CA	3.0	2.0	1300	$3,650	$2.81	45d	1	1.16mi
2023 Border Ave Torrance, CA	3.0	2.0	1224	$4,500	$3.68	20d	1	1.20mi
806 Coriander Dr Unit H Torrance, CA	2.0	2.0	829	$2,500	$3.02	26d	1	1.22mi
1800 255th St Unit 1812-A Lomita, CA	2.0	1.0	750	$2,145	$2.86	45d	1	1.23mi

Listing history 28 events

1. 2026-06-21
   days on market $99,000 Active 90 DOM
2. 2026-06-18
   days on market $99,000 Active 87 DOM
3. 2026-06-17
   days on market $99,000 Active 86 DOM
4. 2026-06-16
   days on market $99,000 Active 85 DOM
5. 2026-06-15
   days on market $99,000 Active 84 DOM
6. 2026-06-13
   days on market $99,000 Active 82 DOM
7. 2026-06-13
   days on market $99,000 Active 81 DOM
8. 2026-06-09
   days on market $99,000 Active 78 DOM
9. 2026-06-08
   days on market $99,000 Active 77 DOM
10. 2026-06-07
    days on market $99,000 Active 76 DOM
11. 2026-06-04
    days on market $99,000 Active 73 DOM
12. 2026-06-03
    days on market $99,000 Active 72 DOM
13. 2026-06-02
    days on market $99,000 Active 71 DOM
14. 2026-06-01
    days on market $99,000 Active 70 DOM
15. 2026-05-31
    days on market $99,000 Active 69 DOM
16. 2026-05-18
    price $99,000 1051-char remark

    Show marketing remark (1051 chars)

    Welcome to Space 210 in the highly sought-after Knolls Lodge community in Southeast Torrance! This move-in ready 3-bedroom, 2-bath home features a bright and inviting open floor plan in a prime location close to shopping, dining, and schools. The spacious living room flows seamlessly into the dining area and kitchen, showcasing laminate countertops, a stainless steel sink, ceiling fan, recessed lighting, and abundant windows that fill the home with natural light. Recent updates include fresh paint and newer flooring throughout. The front bedroom offers versatility for guests or a home office. Down the hallway, you’ll find a secondary bedroom, a remodeled three-quarter bath, and a private primary suite complete with a walk-in closet and an updated full bathroom. Additional features include in-home laundry, a covered two-car carport, and a convenient storage shed. Residents enjoy access to community amenities including two swimming pools, a recreation room, and beautifully maintained grounds, all within a pet-friendly neighborhood.

17. 2026-03-23
    listed $105,000 Active 1051-char remark

    Show marketing remark (1051 chars)

    Welcome to Space 210 in the highly sought-after Knolls Lodge community in Southeast Torrance! This move-in ready 3-bedroom, 2-bath home features a bright and inviting open floor plan in a prime location close to shopping, dining, and schools. The spacious living room flows seamlessly into the dining area and kitchen, showcasing laminate countertops, a stainless steel sink, ceiling fan, recessed lighting, and abundant windows that fill the home with natural light. Recent updates include fresh paint and newer flooring throughout. The front bedroom offers versatility for guests or a home office. Down the hallway, you’ll find a secondary bedroom, a remodeled three-quarter bath, and a private primary suite complete with a walk-in closet and an updated full bathroom. Additional features include in-home laundry, a covered two-car carport, and a convenient storage shed. Residents enjoy access to community amenities including two swimming pools, a recreation room, and beautifully maintained grounds, all within a pet-friendly neighborhood.

18. 2025-02-21
    soldstatus $55,000 Closed Sale 441-char remark

    Show marketing remark (441 chars)

    Knolls Lodge Family park all ages Torrance School district. Pet friendly. 2 pools. Car wash. Club house. 3 bedroom 2 bath. Open floor plan. Granite countertop. Appliances included : stove, refrigerator, microwave, refrigerator, washer and dryer. Air conditioner and newer heater Master bedroom is big with vanity and large closet. The property needs some work. needs flooring and paint outside. 1 parking spot unless the buyer removes patio.

19. 2025-01-21
    status Pending Sale 441-char remark

    Show marketing remark (441 chars)

    Knolls Lodge Family park all ages Torrance School district. Pet friendly. 2 pools. Car wash. Club house. 3 bedroom 2 bath. Open floor plan. Granite countertop. Appliances included : stove, refrigerator, microwave, refrigerator, washer and dryer. Air conditioner and newer heater Master bedroom is big with vanity and large closet. The property needs some work. needs flooring and paint outside. 1 parking spot unless the buyer removes patio.

20. 2025-01-15
    listed $60,000 Active 441-char remark

    Show marketing remark (441 chars)

    Knolls Lodge Family park all ages Torrance School district. Pet friendly. 2 pools. Car wash. Club house. 3 bedroom 2 bath. Open floor plan. Granite countertop. Appliances included : stove, refrigerator, microwave, refrigerator, washer and dryer. Air conditioner and newer heater Master bedroom is big with vanity and large closet. The property needs some work. needs flooring and paint outside. 1 parking spot unless the buyer removes patio.

21. 2018-10-18
    soldstatus $38,000 Closed Sale
22. 2018-10-03
    status Pending Sale
23. 2018-09-24
    historical Hold Do Not Show
24. 2018-09-18
    status Active
25. 2018-09-07
    status Pending Sale
26. 2018-09-01
    price $38,000
27. 2018-08-28
    price $45,000
28. 2018-08-17
    listed $48,000 Active

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥86°F today · 22 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,396
• − Mortgage interest: −$5,546
• − Property taxes: −$1,485
• − Insurance: −$495
• − Repairs & maintenance: −$3,152
• − Management: −$3,152
• − Depreciation: −$2,880
• Taxable income: $22,687
• Est. tax owed @ 24.0%: −$5,445
• After-tax cash flow: $17,468/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: Torrance Unified
• NCES district ID: 0639420
• Math proficiency: 62% ▲ 2.00%
• Reading proficiency: 67% ▬ 0.00%
• Median HH income: $78,640
• Composite: 58.96/100
• National rank: #1969
• State rank: #150 of 1400 in CA

Livability — Torrance

• Score: 76/100
• State rank: #95
• US rank: #3501

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Torrance, CA
• County: Los Angeles County · 9,444,647 people
• City population: 3,838,149
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 41,787
• Household income: $92,923
• Rent vs Own: 56.4% rent · 43.6% own
• Severe rent burden: 1972.0

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 0.70)
• Race & ethnicity: Hispanic / Latino 43% Asian 27% White 20% Two or more races 15% Black 5%
• Hispanic origin (detail): Mexican 34%
• Common ancestry: Slovak 1% Lithuanian 1% British 1%
• Foreign-born: 33% · Canada, South Korea, China
• Languages at home: 46% English-only · Spanish 32% Other Asian/Pacific 5% Korean 5%

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: ▼ -755.95%
• Current HPI: 334.9041
• Rent YoY: ▲ 3.25%
• 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

+106.2% since first listed

13 events — show timeline

• 2026-05-18 Price Changed $99,000 CRMLS
• 2026-03-23 Listed $105,000 CRMLS
• 2025-02-21 Sold (MLS) $55,000 CRMLS
• 2025-01-21 Pending — CRMLS
• 2025-01-15 Listed $60,000 CRMLS
• 2018-10-18 Sold (MLS) $38,000 CRMLS
• 2018-10-03 Pending — CRMLS
• 2018-09-24 Delisted — CRMLS
• 2018-09-18 Relisted — CRMLS
• 2018-09-07 Pending — CRMLS
• 2018-09-01 Price Changed $38,000 CRMLS
• 2018-08-28 Price Changed $45,000 CRMLS
• 2018-08-17 Listed $48,000 CRMLS