18540 Soledad Canyon Rd #53

Santa Clarita, CA 91351

$179,999B+

3 bd · 2.0 ba · 1,344 sqft · Built 1978 · Manufactured · Active · 15 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,242/mo
• Mortgage (P&I): −$944
• Tax + insurance: −$111
• HOA: −$0
• Vac / Maint / Mgmt: −$681
• Net cashflow: $1,507/mo
• Annual: $18,083/yr
• Cap rate: 16.34%
• Cash-on-cash: 35.88%
• DSCR: 2.60
• 1% rule: 1.80%
• Cash to close: $50,400

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $180k.
• At list price, monthly cash flow is $2k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $180k).
• It's been on market 15 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $177k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#229 in CA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A, crime A-; Watch: amenities D+, cost of living F, health & safety F.
• William S. Hart Union High (suburban): math 52% / reading 72% proficiency, ranked #155 of 1,400 in CA (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Canyon Springs Community Elementary (523 students, 81% FRL); La Mesa Junior High (math 10% / reading 10%, grade F, #474 of 498 statewide, top 99%, 1,014 students, 39% FRL); Golden Valley High (2,073 students, 40% FRL) — zoned schools average 54% FRL vs 18% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 10% at this address vs 62% district-wide (-52 pts) — the specific schools serving this property underperform the William S. Hart Union High average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.7%/yr); 110 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 9 sale attempts since 16y ago; this cycle's ask has dropped $20k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $111k; list at $180k implies a 62% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 1.7% rent growth), your $50k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 16.3% vs local median 2.8% in Santa Clarita — 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

• Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.