126 E Bonita St

Calipatria, CA 92233

$180,000B-

4 bd · 2.0 ba · 1,248 sqft · Built 1976 · SingleFamily · Pending · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,763/mo
• Mortgage (P&I): −$944
• Tax + insurance: −$126
• HOA: −$0
• Vac / Maint / Mgmt: −$370
• Net cashflow: $323/mo
• Annual: $3,870/yr
• Cap rate: 8.44%
• Cash-on-cash: 7.68%
• DSCR: 1.34
• 1% rule: 0.98%
• Cash to close: $50,400

Investor read

• This is a 4-bed/2.0-bath single-family listed at $180k.
• At list price, monthly cash flow is $323 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $176k (2.1% below list).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $176k (2.1% below list) — sets the bar for 1% rule.
• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (8.2% local appreciation)).
• Location reads 56/100 on livability (#789 in CA) — a working-class tenant base; expect higher turnover. Strengths: crime A+, housing A+; Watch: amenities F, commute F, employment D-.
• Calipatria Unified (town): math 9% / reading 27% proficiency, ranked #485 of 517 in CA (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 85% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Bill E. Young Jr. Middle (math 8% / reading 26%, grade F, #443 of 498 statewide, top 90%, 358 students, 90% FRL); Calipatria High (math 12% / reading 57%, grade F, #618 of 1,170 statewide, top 56%, 369 students, 80% FRL) — zoned schools at 85% FRL track the district average.
• Market conditions: 22 active listings in the ZIP; 271 units permitted in Imperial County in 2024 (112 in 5+ unit buildings).
• Imperial County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (8.2% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1976 — 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 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?
• 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.