13691 Gavina #433

Los Angeles, CA 91342

$334,999C

3 bd · 2.0 ba · 1,708 sqft · Built 1990 · Manufactured · Active · 76 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,859/mo
• Mortgage (P&I): −$1,757
• Tax + insurance: −$558
• HOA: −$0
• Vac / Maint / Mgmt: −$810
• Net cashflow: $734/mo
• Annual: $8,804/yr
• Cap rate: 8.92%
• Cash-on-cash: 9.39%
• DSCR: 1.42
• 1% rule: 1.15%
• Cash to close: $93,800

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $335k. Condition is rated fair.
• At list price, monthly cash flow is $734 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $335k).
• It's been on market 76 days — a 6% lower offer ($315k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $315k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#273 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment B; Watch: health & safety C-, schools D+, crime F.
• Los Angeles Unified (urban): math 29% / reading 54% proficiency, ranked #223 of 517 in CA (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 184 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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.
• 4 sale attempts since 11y ago; this cycle's ask has dropped $64k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $137k; list at $335k implies a 145% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 9→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.9% vs local median 2.1% in Los Angeles — 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.
• At $3,859/mo this rent would consume 47% of the median local household income ($98k/yr) (locally 2559% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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 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.

Repairs flagged (vision-AI assessment)

• Minor: kitchen cabinets — slight wear
• Minor: bathroom vanity — slight wear
• Moderate: exterior siding — visible wear
• Moderate: interior walls — slight wear
• Minor: HVAC filters — standard maintenance