14000 Lake View Dr

La Mirada, CA 90638

$270,000B

2 bd · 2.0 ba · 1,650 sqft · Built 1977 · Manufactured · Active · 314 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,454/mo
• Mortgage (P&I): −$1,416
• Tax + insurance: −$450
• HOA: −$0
• Vac / Maint / Mgmt: −$725
• Net cashflow: $863/mo
• Annual: $10,356/yr
• Cap rate: 10.13%
• Cash-on-cash: 13.70%
• DSCR: 1.61
• 1% rule: 1.28%
• Cash to close: $75,600

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $270k. Condition is rated good.
• At list price, monthly cash flow is $863 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $270k).
• It's been on market 314 days — a 12% lower offer ($238k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $238k (12.0% 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 $8k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#149 in CA) — a middle-class / working-renter tenant base. Strengths: employment A+, commute A, schools B; Watch: health & safety D, cost of living F.
• Norwalk-La Mirada Unified (suburban): math 28% / reading 61% proficiency, ranked #177 of 517 in CA (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.1%/yr); 54 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 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.
• At projected returns (-3.0% appreciation + 6.1% rent growth), your $76k cash investment doubles in ~7 years — after that, you're playing with house money.
• 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.
• Cap rate 10.1% vs local median 2.4% in La Mirada — 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.
• This rent runs 38% of the median local income ($110k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 314 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
• What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
• Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?