Issue #185October 17, 2026
Highland Park $500k Bungalow — ~$172k Net at List
Four California flips. Featured is 6407 La Riba Way in Highland Park (Los Angeles): $500k list, $65k cash in, $950k ARV, $160k rehab. About $172k net and 264% on cash at list on a 12-month hold, and it holds up under stress. 22307 Meyler St (Torrance), 10704 Challenge Blvd (La Mesa) and 402 S 3rd Ave (Oakdale) are bids because list is too thin or fails stress, so those cards show the bid in the headline.
Financing note
Every card assumes a 10% down hard money loan at 9.95% interest-only, with rehab lender-funded. Every card carries a full 12 months of interest. Cash in is the down payment plus purchase closing costs. ROI is on cash in. Sell costs are 4.5% of ARV. The Torrance, La Mesa and Oakdale cards are priced at the bid because list is too thin or fails stress.
FEATURED FLIPTORRANCE BIDLA MESA BIDOAKDALE BID
FEATURED FLIP
6407 La Riba Way, Los Angeles, CA 90042
rehab & flip · Highland Park · feature at list$500,000
UNDERWRITING
Sell costs
$42,750 (4.5% of ARV)
Size
2BR / 2BA · 1,299 sq.ft. · 1923 California bungalow · 4,677 sf lot
OPPORTUNITY
Active $500,000 California bungalow in Highland Park, listed as a renovation project. 2 bd / 2 ba, 1,299 sf, built 1923, on a 4,677 sf lot. The fully redone house next door sold for $895k in September, and renovated 3-beds nearby closed $1.1M+. Conservative $950k ARV ($731/sf), under the next-door redo, with no credit for adding a 3rd bedroom. The $160k rehab covers kitchen, two baths, floors, paint, plus electrical, plumbing and sewer lateral, roof and exterior, and a seismic or foundation allowance.
RISK
At $500k in Highland Park this is priced to start a bidding war, so expect it to go over list. Walk away around $575k, where stress still leaves about $15k. Hillside, foundation and sewer condition are unknown until you walk it. Under stress (ARV 5% lower, rehab 15% higher) it still nets about $99.8k at list. Rehab is an assumption.
VERDICT
Feature at list. Biggest spread on the board. Don't chase it past about $575k.
TORRANCE BID
22307 Meyler St, Torrance, CA 90502
rehab & flip · large lot bid-price (list too thin)$575,000 bid
UNDERWRITING
Sell costs
$43,875 (4.5% of ARV)
Size
3BR / 1BA · 1,791 sq.ft. · built 1923 · 9,170 sf lot
OPPORTUNITY
Active $600,000 as-is fixer with a Torrance mailing address in unincorporated LA County. 3 bd / 1 ba, 1,791 sf, built 1923, on a 9,170 sf lot. Seller notes architectural plans in process to expand plus a detached ADU; those are not in these numbers. Nearby 3/2s closed about $910k to $969k. Conservative $975k ARV assumes adding a second bath and renovating, with no value for the plans or ADU. The $180k rehab covers systems, roof, kitchen, a bath add, floors and paint, plus a foundation allowance.
RISK
List $600,000 goes to about -$14.8k under stress. County permitting is slower than the city's. A 1923 house in significant need of repair may need more than the allowance. Comps are partly unrenovated, so ARV has upside but isn't proven. Under stress at the bid it still nets about $13.2k. Rehab is an assumption.
VERDICT
Too thin at list. Write $575k or walk.
LA MESA BID
10704 Challenge Blvd, La Mesa, CA 91941
rehab & flip · Mount Helix bid-price (list fails stress)$705,000 bid
UNDERWRITING
List
$749,000 (fails stress)
Sell costs
$49,500 (4.5% of ARV)
Size
3BR / 2BA · 1,842 sq.ft. · built 1979 · 0.27 ac fenced lot · RV parking
OPPORTUNITY
Active $749,000 Mount Helix fixer, listed as needing vision and work. 3 bd / 2 ba, 1,842 sf, built 1979, on a 0.27 ac fenced lot with a backyard shed and RV parking. Nearby sales range widely; conservative $1.10M ARV because nearby comps are not clearly renovated. The $150k rehab is a full interior and systems allowance.
RISK
List $749,000 prints about $47k and goes to about -$30k under stress. ARV depends on finding true renovated comps in this pocket. Under stress at the bid it still nets about $19k. Don't stretch past about $709k if you want roughly $15k left under stress. Rehab is an assumption.
VERDICT
Fail at list under stress. Write $705k or walk.
OAKDALE BID
402 S 3rd Ave, Oakdale, CA 95361
rehab & flip · Central Valley corner-lot bid-price (list too thin)$210,000 bid
UNDERWRITING
Sell costs
$17,550 (4.5% of ARV)
Size
2BR / 2BA · 1,067 sq.ft. · built 1905 · 5,001 sf corner lot · 1-car garage
OPPORTUNITY
Active $225,000 corner-lot fixer in Oakdale. 2 bd / 2 ba, 1,067 sf, built 1905, on a 5,001 sf lot with a covered porch and 1-car garage. Needs TLC throughout. Conservative $390k ARV with $85k for a full refresh. No value given for a possible ADU on the corner lot.
RISK
List $225,000 prints about $27.1k and goes negative under stress. Central Valley exits are thinner than coastal SoCal, and a sub-1,100 sf 2/2 caps the buyer pool. Under stress at the bid it still nets about $11.2k. ADU upside is not in these numbers and needs city confirmation. Rehab is an assumption.
VERDICT
Too thin at list. Write $210k or walk.
Status Verification
All four listings were verified Active on October 13, 2026: 6407 La Riba Way at $500,000, 22307 Meyler St at $600,000, 10704 Challenge Blvd at $749,000 and 402 S 3rd Ave at $225,000. Bid cards show the bid in the headline because list is too thin or fails stress. ARVs are set at or under nearby sold comps. Rehab is an assumption from listing photos and text, not a contractor bid. Buyers do their own due diligence. Dealsletter is not affiliated with the listings.
Three or four deals like these, underwritten end to end, every week. Free forever.
get the next issue →Get the next issue free
Real underwriting, honest verdicts — straight to your inbox every week.