3957 S Neece St · Home Gardens, CA 92879

$329,000

2 bd · 2.0 ba · 840 sqft · SingleFamily public records · 188 Days on market

Built 1936 9,148 sqft lot $392/sqft · 40% below area Est $542k · 39% under ↓ 11% since listing

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +15.0/15.0
• Cash flow +8.1/30.0
• Schools +5.1/10.0
• Rent growth +3.2/5.0
• Livability +2.8/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fantastic Opportunity on a flat usable land in the city of Corona. ! This 0.21 acre of property-acre lot in the heart of Corona an ideal location for building your custom home. The property had 2 bedrooms and 2 bathrooms which was removed leaving a clear and ready lot. Property on a sewer. seller is motivated, presenting a great opportunity for buyers looking to capitalize on the area's growth. With ample space for up built up to 3 units. zoning is R1 per County—this lot is perfect for expanding your business or adding to your investment portfolio. Don't miss out on this rare opportunity in a thriving market! * Motivate seller, will carry the loan. Financing available * * * All Utilities at the property

Key facts

• Zoning is r3
• 0.21 acre lot
• 9,148 sq ft lot

Tags

• 0.21 ACRE LOT
• ZONING IS R3
• AMPLE SPACE FOR UP TO 3 UNITS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $329k.

Deal economics

• At list price, monthly cash flow is $-317 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $273k (17.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $246k (25.3% below list).
• Recommended offer: $246k (25.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 55/100 on livability (#833 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A, employment A-; Watch: schools F, crime F, amenities F.
• Corona-Norco Unified (suburban): math 46% / reading 61% proficiency, ranked #312 of 1,400 in CA (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+2.8%/yr); 85 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).
• This rent runs 32% of the median local income ($92k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• 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.
• Riverside County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 188 days — a 12% lower offer ($290k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1936 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $245,817 (25.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 188 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1936 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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.

Investment metrics

• 1% rule: 0.75% ✗
• Cap rate: 5.14%
• Cash-on-cash: -4.13%
• DSCR: 0.82
• GRM: 11.2

CMA / ARV

• ARV (median comp): $541,544
• List price: $329,000
• Delta: -39.25%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3742 Blair St	0.24mi	2/1.0	948 (+13%)	3mo	$500,000	$527	61

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.77% rent growth · sell at horizon

5-year hold

• IRR: -23.5%
• Equity multiple: 0.20×
• Total profit: $-74,046
• Equity at exit: $49,055

10-year hold

• IRR: -18.9%
• Equity multiple: -0.01×
• Total profit: $-92,686
• Equity at exit: $28,446

Cash invested: $92,120 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 92879

• Rents YoY: 2.8%
• Active inventory: 85
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $2,458 high
• Mortgage (P&I): −$1,725
• Tax from tax record: −$397 /mo · $4,760/yr
• Insurance: −$137
• HOA: −$0
• Vacancy / Maint / Mgmt: −$516
• Net cashflow: $-317

Break-even live

Break-even rent $2,860

Max offer price $272,987

Occupancy floor —

Sensitivity live

Price	-10% $-131	-5% $-224	+0% $-317	+5% $-410	+10% $-503
Rent	-10% $-511	-5% $-414	+0% $-317	+5% $-220	+10% $-123
Rate	-1.0pp $-151	-0.5pp $-233	base $-317	+0.5pp $-402	+1.0pp $-489

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $82,250
• Closing costs: $9,870
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3721 N Byron St Unit 3731 Corona, CA	2.0	1.0	925	$2,150	$2.32	6d	1	0.35mi
13370 Magnolia Ave Corona, CA	3.0	2.0	900	$2,450	$2.72	44d	1	0.59mi
451 Wellesley Dr Corona, CA	1.0–3.0	1.0–3.0	1038	$3,032	$2.92	0d	15	0.69mi
2225 Collett Ave Corona, CA	1.0–3.0	1.0–2.0	1117	$2,937	$2.63	0d	33	0.79mi
2178 Stoneridge Dr Corona, CA	1.0–3.0	1.0–2.0	946	$2,528	$2.67	0d	10	1.06mi
2215 Lakeside Pl Corona, CA	2.0–3.0	1.0–2.0	1043	$2,265	$2.17	0d	25	1.17mi
2235 Treehouse Ln Corona, CA	1.0–2.0	1.0–2.0	886	$2,779	$3.13	0d	18	1.19mi
2365 Promenade Ave Corona, CA	1.0–2.0	1.0–2.0	892	$2,559	$2.87	0d	17	1.20mi
3741 Harvill Ln Unit 4 Riverside, CA	1.0	1.0	700	$1,500	$2.14	44d	1	1.33mi
2341 Mary Helen St Unit 104 Corona, CA	3.0	2.5	1000	$2,550	$2.55	44d	1	1.35mi
2361 Mary Helen St Unit 102 Corona, CA	2.0	1.5	1000	$2,395	$2.40	2d	1	1.36mi
545 Hamilton Dr Corona, CA	1.0	1.0	900	$1,900	$2.11	25d	1	1.43mi

Listing history 50 events

1. 2026-06-18
   days on market $329,000 Active 188 DOM
2. 2026-06-17
   days on market $329,000 Active 187 DOM
3. 2026-06-16
   days on market $329,000 Active 186 DOM
4. 2026-06-15
   days on market $329,000 Active 185 DOM
5. 2026-06-13
   days on market $329,000 Active 183 DOM
6. 2026-06-13
   days on market $329,000 Active 182 DOM
7. 2026-06-09
   days on market $329,000 Active 179 DOM
8. 2026-06-08
   days on market $329,000 Active 178 DOM
9. 2026-06-07
   days on market $329,000 Active 177 DOM
10. 2026-06-04
    days on market $329,000 Active 174 DOM
11. 2026-06-03
    days on market $329,000 Active 173 DOM
12. 2026-06-02
    pricedays on market $329,000 Active 172 DOM
13. 2026-06-01
    days on market $335,000 Active 171 DOM
14. 2026-05-31
    days on market $335,000 Active 170 DOM
15. 2025-12-12
    listed $335,000 Active 723-char remark

    Show marketing remark (723 chars)

    Fantastic Opportunity on a flat usable land in the city of Corona. ! This 0.21 acre of property-acre lot in the heart of Corona an ideal location for building your custom home. The property had 2 bedrooms and 2 bathrooms which was removed leaving a clear and ready lot. Property on a sewer. seller is motivated, presenting a great opportunity for buyers looking to capitalize on the area's growth. With ample space for up built up to 3 units. zoning is R1 per County—this lot is perfect for expanding your business or adding to your investment portfolio. Don't miss out on this rare opportunity in a thriving market! * Motivate seller, will carry the loan. Financing available * * * All Utilities at the property

16. 2025-09-30
    historical
17. 2025-09-23
    price $344,702
18. 2025-09-17
    price $347,072
19. 2025-08-26
    price $339,072
20. 2025-08-25
    price $341,072
21. 2025-08-14
    price $341,172
22. 2025-08-13
    price $347,172
23. 2025-08-07
    price $347,272
24. 2025-08-06
    price $3,473,272
25. 2025-07-26
    price $347,357
26. 2025-07-08
    price $353,357
27. 2025-06-27
    price $358,353
28. 2025-06-17
    price $358,753
29. 2025-06-14
    price $358,757
30. 2025-06-01
    price $362,877
31. 2025-05-23
    price $367,877
32. 2025-04-28
    price $369,877
33. 2025-03-26
    price $372,000
34. 2025-03-21
    price $377,000
35. 2025-03-07
    listed $387,000 Active
36. 2025-02-24
    historical
37. 2025-01-15
    price $365,472
38. 2024-12-20
    price $367,000
39. 2024-12-16
    price $375,000
40. 2024-12-13
    price $329,875
41. 2024-12-04
    price $349,875
42. 2024-12-03
    price $355,000
43. 2024-10-18
    price $365,000
44. 2024-09-17
    price $373,000
45. 2024-08-13
    price $379,000
46. 2024-07-20
    price $359,000
47. 2024-07-03
    price $367,000
48. 2024-06-28
    price $369,000
49. 2024-06-11
    price $370,000
50. 2024-05-21
    listed $375,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $4,760 · $397/mo
• Projected year-2 tax: $4,760 · $397/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 7/10 Severe 7 d/yr ≥101°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 19 unhealthy d/yr today · 23 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,498
• − Mortgage interest: −$18,429
• − Property taxes: −$4,760
• − Insurance: −$1,645
• − Repairs & maintenance: −$2,360
• − Management: −$2,360
• − Depreciation: −$9,571
• Taxable loss: −$9,626
• Est. tax savings @ 24.0%: +$2,310
• After-tax cash flow: $-1,495/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Corona-Norco Unified
• NCES district ID: 0609850
• Math proficiency: 46% ▲ 1.00%
• Reading proficiency: 61% ▬ 0.00%
• Median HH income: $83,380
• Composite: 50.72/100
• National rank: #3920
• State rank: #312 of 1400 in CA

Livability — Home Gardens

• Score: 55/100
• State rank: #833
• US rank: #23168

Category grades

Amenities F Commute F Cost of living F Crime F Employment A- Housing A Health & safety F User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Home Gardens, CA
• County: Riverside County · 2,287,001 people
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 49,317
• Household income: $92,229
• Rent vs Own: 43.4% rent · 56.6% own
• Severe rent burden: 2058.0

Population outlook (Riverside County) Hauer SSP2

• Today (2025): 2,664,475 people
• By 2030: 2,802,692 · +5.2%
• By 2040: 3,050,904 · +14.5%
• By 2050: 3,256,783 · +22.2%
• By 2075: 3,655,058 · +37.2%
• By 2100: 3,766,594 · +41.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Hispanic / Latino 59% White 21% Two or more races 13% Asian 13% Black 5% Native American 2%
• Hispanic origin (detail): Mexican 50%
• Common ancestry: Italian 2% Romanian 1% Armenian 1%
• Foreign-born: 30% · Canada, Vietnam, China
• Languages at home: 43% English-only · Spanish 44% Tagalog/Filipino 2% Other Indo-European 2%

Political lean MEDSL · Riverside

• 2024 margin: Toss-up / Even · D 48.0% · R 49.3% · Other 2.6%
• 2008→2024 swing: -3.6pp toward R · 2008: 2.3pp · 2024: -1.3pp
• All cycles: 2024: R+1.3 2020: D+8.0 2016: D+4.3 2012: R+0.4 2008: D+2.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -395.32%
• Current HPI: 380.3129
• Rent YoY: ▲ 2.77%
• Metro: Riverside-San Bernardino-Ontario, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

-10.7% since first listed

36 events — show timeline

• 2025-12-12 Listed $335,000 CRMLS
• 2025-09-30 Listing Removed — CRMLS
• 2025-09-23 Price Changed $344,702 CRMLS
• 2025-09-17 Price Changed $347,072 CRMLS
• 2025-08-26 Price Changed $339,072 CRMLS
• 2025-08-25 Price Changed $341,072 CRMLS
• 2025-08-14 Price Changed $341,172 CRMLS
• 2025-08-13 Price Changed $347,172 CRMLS
• 2025-08-07 Price Changed $347,272 CRMLS
• 2025-08-06 Price Changed $3,473,272 CRMLS
• 2025-07-26 Price Changed $347,357 CRMLS
• 2025-07-08 Price Changed $353,357 CRMLS
• 2025-06-27 Price Changed $358,353 CRMLS
• 2025-06-17 Price Changed $358,753 CRMLS
• 2025-06-14 Price Changed $358,757 CRMLS
• 2025-06-01 Price Changed $362,877 CRMLS
• 2025-05-23 Price Changed $367,877 CRMLS
• 2025-04-28 Price Changed $369,877 CRMLS
• 2025-03-26 Price Changed $372,000 CRMLS
• 2025-03-21 Price Changed $377,000 CRMLS
• 2025-03-07 Listed $387,000 CRMLS
• 2025-02-24 Listing Removed — CRMLS
• 2025-01-15 Price Changed $365,472 CRMLS
• 2024-12-20 Price Changed $367,000 CRMLS
• 2024-12-16 Price Changed $375,000 CRMLS
• 2024-12-13 Price Changed $329,875 CRMLS
• 2024-12-04 Price Changed $349,875 CRMLS
• 2024-12-03 Price Changed $355,000 CRMLS
• 2024-10-18 Price Changed $365,000 CRMLS
• 2024-09-17 Price Changed $373,000 CRMLS
• 2024-08-13 Price Changed $379,000 CRMLS
• 2024-07-20 Price Changed $359,000 CRMLS
• 2024-07-03 Price Changed $367,000 CRMLS
• 2024-06-28 Price Changed $369,000 CRMLS
• 2024-06-11 Price Changed $370,000 CRMLS
• 2024-05-21 Listed $375,000 CRMLS

Property tax history

+12.8%/yr

Latest (2025): $4,760 · +3.4% YoY. Source: county tax records.