399 E Yaney #53 St

Bishop, CA 93514

$49,999C-

2 bd · 1.0 ba · 840 sqft · Built 1983 · Manufactured · Pending · 284 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,303/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$83
• HOA: −$0
• Vac / Maint / Mgmt: −$484
• Net cashflow: $1,474/mo
• Annual: $17,684/yr
• Cap rate: 41.66%
• Cash-on-cash: 126.31%
• DSCR: 6.62
• 1% rule: 4.61%
• Cash to close: $14,000

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $50k.
• At list price, monthly cash flow is $1k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• It's been on market 284 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#186 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: crime F, cost of living F.
• Bishop Unified (town): math 25% / reading 36% proficiency, ranked #337 of 517 in CA (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 74 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 18 units permitted in Inyo County in 2024 (0 in 5+ unit buildings).
• Inyo County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 8 sale attempts since 7y ago; this cycle's ask has dropped $7k (12%) 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 $14k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 2→7/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 284 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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 B-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?
• 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?
• 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.
• 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.