Issue #182October 8, 2026
Rialto $235k AS-IS — ~$69k Net at List
Four SoCal / CA-wide flips. Featured is 1360 W Van Koevering St in North Rialto: $235k list, $31k cash in, $520k ARV, $150k rehab. About 224% on cash on a 12-month hold. About $69k net at list. Aura (Northridge) clears at list as a trust-auction PASS. Pine (Long Beach) and 73rd (Los Angeles) fail at list. Those cards show the bid in the headline.
Financing note
Fix and flips on this issue assume a 10% down hard money lender at 9.95% interest-only, 1-year term. Rehab is lender-funded. Cash in is 10% down plus 3% purchase costs. Interest is in the profit, not cash in. ROI is on cash in only. Sell costs are 4.5% of ARV. Every card carries a full 12 months of interest. Bid-price cards show the bid in the headline because list fails conservative. Van Koevering and Aura are PASS at list, not bids.
FEATURED FLIPNORTHRIDGE PASSLONG BEACH BIDLOS ANGELES BID
FEATURED FLIP
1360 W Van Koevering St, Rialto, CA 92376
rehab & flip · North Rialto · AS-IS PASS at list$235,000
UNDERWRITING
Sell costs
$23,400 (4.5% of ARV)
Size
3BR / 2BA · 1,240 sq.ft. · built 1980 · 2-car detached garage
OPPORTUNITY
Active $235,000 AS-IS North Rialto 3/2, 1,240 sf, 1980 tract with 2-car detached garage. Same-model twins on the block closed $533k and $590k in the last 7 weeks. Nearby renovated 3/2s closed $550k–$560k. Conservative $520k ARV / $150k rehab. Listed about $300k under those comps.
RISK
Hard terms: non-refundable 10% deposit, no contingencies, seller will not activate utilities or do repairs. Roof and water scope unknown from collapsed ceiling photos. Stress ARV $500k / rehab $175k still nets about $22k. Walk before writing. Rehab is an assumption.
VERDICT
Feature at list. Best at-list print on this board. Write at or near list if the walk confirms scope at or under $150k.
NORTHRIDGE PASS
8354 Aura Ave, Northridge, CA 91324
rehab & flip · Northridge PASS at list · trust auction$449,000
UNDERWRITING
Sell costs
$35,100 (4.5% of ARV)
Size
3BR / 1BA · 1,046 sq.ft. · ~8,060 sf lot
OPPORTUNITY
Active $449,000 family trust-auction fixer in Northridge. 3/1, 1,046 sf on an ~8,060 sf SFV lot. Nearby closed 3–4 beds trade $695k–$890k. Conservative $780k ARV / $150k full rehab. Lot and ADU upside not in the math.
RISK
Auction format, so list may be an opening number. Confirm any buyer's premium. 1 bath caps ARV. Walk-away for net ≥$40k is about $482k. Rehab is an assumption.
VERDICT
PASS at list. Write only if the auction clears near list and the walk confirms scope at or under $150k. Walk away above about $482k.
LONG BEACH BID
5125 Pine Ave, Long Beach, CA 90805
rehab & flip · Long Beach bid-price (list fails)$460,000 bid
UNDERWRITING
Sell costs
$31,500 (4.5% of ARV)
Size
2BR / 1BA · 1,082 sq.ft. · built 1930 · garage
OPPORTUNITY
Active $524,900 deferred-maintenance 1930 Spanish 2/1, 1,082 sf with garage in North Long Beach. Headline is Bid $460k. Nearby small 2/1s closed $630k–$685k. Bid $460k vs $700k ARV / $110k rehab.
RISK
List fails (about −$40.1k). Fresh listing, so a bid about 12% under list likely needs DOM to build. 2-bed exit caps ARV. Stress ARV $680k at the bid nets about $13k. Rehab is an assumption.
VERDICT
Fail at list. Write $460k or walk.
LOS ANGELES BID
717 W 73rd St, Los Angeles, CA 90044
rehab & flip · Los Angeles bid-price (list fails) · trust auction$400,000 bid
UNDERWRITING
Sell costs
$29,700 (4.5% of ARV)
Size
4BR / 2BA · 1,131 sq.ft. · 7,250 sf lot
OPPORTUNITY
Active $449,000 family trust-auction 4/2, 1,131 sf on a 7,250 sf lot near Manchester Square / 110 Freeway. Same auction desk as Aura. Headline is Bid $400k. Bid $400k vs $660k ARV / $135k rehab. Possible development upside not in the math.
RISK
List fails (about −$20.8k). Auction format. Same seller as the Northridge Aura card, so do not treat them as independent comps of each other. Confirm buyer's premium and final clearing price. Rehab is an assumption.
VERDICT
Fail at list. Write $400k or walk. Swapped in after 1813 W 48th went pending.
Status Verification
All four verified on September 29, 2026 at about 4:13pm PT: 1360 W Van Koevering St $235,000 Active, 8354 Aura Ave $449,000 Active, 5125 Pine Ave $524,900 Active (headline is $460k bid), 717 W 73rd St $449,000 Active (headline is $400k bid). Original card 1813 W 48th St went Pending at $549,900 and was dropped. ARVs are set under nearby sold comps (Redfin closed sales). Rehab numbers are assumptions from listing photos and text, not contractor bids. Dealsletter is not affiliated with the listings.
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