350 E San Jacinto #151 · Perris, CA 92571

$159,000

3 bd · 2.0 ba · 1,176 sqft · Manufactured · 49 Days on market

Built 2005 Fair condition Est $128k · 24% over

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Why this score? — see what drove the C+ 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).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.4/5.0
• Livability +3.4/5.0
• Schools +3.0/10.0
• Condition / age +2.2/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this exceptional manufactured home, WITH A LOW SPACE RENT OF APPROXIMATELY $1,060. Discover an outstanding opportunity in Riverside County. Look no further than this remarkable all-ages manufactured home, ideally located in the Lake Perris Village Mobile Home Park. This spacious residence offers a comfortable lifestyle with 3 bedrooms, 2 bathrooms, and parking that may accommodate up to three small vehicles. Adding even more value, the home includes a generous backyard and side yard. Community amenities OFFER A CLUBHOUSE/EVENT ROOM, SWIMMING POOL, GYM, LAUDRY AREA, & PLAYGROUND. For added convenience, the property is just minutes from Downtown Perris, Highway 74, and a varie

Key facts

• 2 parking spots
• Community pool
• Built 2005

Property features AI

Finance

• Other: Park name: Lake Perris Village
• Financial info: Rent includes: none
• HOA & community: Land lease in park (Lake Perris Village) with monthly land lease payment of $1,060; Community features include dog park and sidewalks; Manager approval required

Exterior

• Parking: Carport with 2 parking spaces
• Security: Gated community; Smoke and carbon monoxide detectors
• Utilities: Public/district water; Public sewer (sewer paid); Natural gas connected and available; Electricity available
• Home design: Single-story mobile home (model 3502K); Raised foundation; Mobile home remains in place; Approximately 23 ft wide by 50 ft long; Faces main entry (entry on level 1)
• Construction: Shingle roof; Wood skirting; Raised foundation; Built year sourced from public records
• Exterior features: Shingle roof; Wood skirting; Community pool; No fencing

Interior

• Kitchen: Kitchen island; Laminate countertops; Gas oven
• Bedrooms: All bedrooms located on the main level
• Flooring: Vinyl; Carpet; Wood
• Bathrooms: Two full bathrooms; Showers in tubs
• Heating & cooling: Central furnace heating; Wall/window cooling
• Interior features: One-level layout with all bedrooms on the main floor; Main entry at level 1; Carbon monoxide detector(s) and smoke detector; Located in a gated community
• Laundry & utility: Interior laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $159k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $159k).
• Recommended offer: $154k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.9% vs local median 3.6% in Perris — 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.

Location & tenants

• Location reads 67/100 on livability (#322 in CA) — a middle-class / working-renter tenant base. Strengths: housing A+, commute B; Watch: crime C-, health & safety D, amenities F.
• Perris Union High (suburban): math 21% / reading 48% proficiency, ranked #282 of 517 in CA (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Palms Elementary (734 students, 84% FRL); Pinacate Middle (math 11% / reading 27%, grade F, #426 of 498 statewide, top 86%, 927 students, 96% FRL) — zoned schools average 90% FRL vs 72% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 19% at this address vs 34% district-wide (-16 pts) — the specific schools serving this property underperform the Perris Union High average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+7.7%/yr); 141 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 0d 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 35% 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 $1k of loan paydown is wiped out by about $5k 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.
• At projected returns (-3.0% appreciation + 7.7% rent growth), your $45k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($154k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $154,230 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.68% ✓
• Cap rate: 13.89%
• Cash-on-cash: 27.12%
• DSCR: 2.21
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $128,184
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
350 E San Jacinto Ave #108	0.00mi	3/2.0	1,152 (-2%)	3mo	$145,000	$126	94
350 E San Jacinto	0.00mi	3/2.0	1,120 (-5%)	4mo	$35,000	$31	89
350 E San Jacinto #163	0.00mi	3/2.0	1,248 (+6%)	4mo	$120,000	$96	86
350 E San Jacinto Ave #9	0.00mi	3/2.0	1,152 (-2%)	18mo	$159,900	$139	82
350 E San Jacinto Ave #27	0.00mi	3/2.0	1,272 (+8%)	10mo	$180,000	$142	78
350 E San Jacinto Ave #170	0.14mi	3/2.0	1,176 (0%)	19mo	$128,000	$109	78
350 E San Jacinto Ave #121	0.00mi	3/2.0	1,344 (+14%)	4mo	$120,000	$89	72
350 E San Jacinto Ave #207	0.00mi	3/2.0	1,344 (+14%)	10mo	$144,000	$107	68
350 E San Jacinto Ave #208	0.00mi	3/2.0	1,344 (+14%)	16mo	$160,000	$119	63
350 E San Jacunto #195	0.01mi	3/2.0	1,344 (+14%)	17mo	$140,000	$104	62
350 E San Jacinto Ave #127	0.00mi	3/2.0	1,344 (+14%)	18mo	$222,557	$166	61
350 E San Jacinto Ave #145	0.00mi	2/2.0 (-1)	1,000 (-15%)	13mo	$96,600	$97	60

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 · 7.69% rent growth · sell at horizon

5-year hold

• IRR: 26.3%
• Equity multiple: 2.16×
• Total profit: $51,517
• Equity at exit: $23,707

10-year hold

• IRR: 36.7%
• Equity multiple: 5.20×
• Total profit: $187,067
• Equity at exit: $13,747

Cash invested: $44,520 (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 92571

• Home prices YoY: -9.4%
• Rents YoY: 7.7%
• Active inventory: 141
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $2,664 high
• Mortgage (P&I): −$834
• Tax est. 1.5%: −$199 /mo · $2,385/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$560
• Net cashflow: $1,006

Break-even live

Break-even rent $1,391

Max offer price $159,000

Occupancy floor 57%

Sensitivity live

Price	-10% $1,116	-5% $1,061	+0% $1,006	+5% $951	+10% $896
Rent	-10% $796	-5% $901	+0% $1,006	+5% $1,111	+10% $1,217
Rate	-1.0pp $1,086	-0.5pp $1,046	base $1,006	+0.5pp $965	+1.0pp $923

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
342 Wilkerson Ave Perris, CA	2.0	2.0	920	$1,595	$1.73	0d	1	0.28mi
290 Wilson Ave Perris, CA	1.0–3.0	1.0–2.0	875	$1,950	$2.23	0d	7	0.34mi
768 Wilson Ave Perris, CA	3.0	2.5	1500	$4,500	$3.00	4d	1	0.54mi
1093 Johns Rd Perris, CA	3.0	2.0	1100	$2,500	$2.27	16d	1	0.84mi
154 E 11th St Perris, CA	3.0	2.0	1423	$3,333	$2.34	0d	1	0.94mi
876 S D St Perris, CA	2.0	2.5	1300	$2,395	$1.84	0d	1	0.98mi
1355 S Perris Blvd Perris, CA	2.0	1.0	962	$1,975	$2.05	0d	1	1.01mi
128 Elmtree Dr Perris, CA	2.0	1.0	794	$2,300	$2.90	0d	1	1.36mi
1687 Sycamore St Perris, CA	3.0	2.0	1100	$7,500	$6.82	0d	1	1.44mi
1188 Witt St Perris, CA	2.0	1.0	900	$2,800	$3.11	0d	1	1.45mi
2036 Orchard Dr Perris, CA	2.0	2.0	1005	$2,095	$2.08	4d	1	1.48mi
2036 Orchard Dr Perris, CA	2.0	2.0	1005	$2,095	$2.08	3d	1	1.48mi

Listing history 17 events

1. 2026-06-21
   days on market $159,000 Active 49 DOM
2. 2026-06-18
   days on market $159,000 Active 46 DOM
3. 2026-06-17
   days on market $159,000 Active 45 DOM
4. 2026-06-16
   days on market $159,000 Active 44 DOM
5. 2026-06-15
   days on market $159,000 Active 43 DOM
6. 2026-06-13
   days on market $159,000 Active 41 DOM
7. 2026-06-13
   days on market $159,000 Active 40 DOM
8. 2026-06-09
   days on market $159,000 Active 37 DOM
9. 2026-06-08
   days on market $159,000 Active 36 DOM
10. 2026-06-07
    days on market $159,000 Active 35 DOM
11. 2026-06-04
    days on market $159,000 Active 32 DOM
12. 2026-06-03
    days on market $159,000 Active 31 DOM
13. 2026-06-02
    days on market $159,000 Active 30 DOM
14. 2026-06-01
    days on market $159,000 Active 29 DOM
15. 2026-05-31
    days on market $159,000 Active 28 DOM
16. 2026-05-03
    listed $159,000 Active
17. 2026-05-01
    historical $159,000

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 7/10 Severe 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 8 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,972
• − Mortgage interest: −$8,906
• − Property taxes: −$2,385
• − Insurance: −$795
• − Repairs & maintenance: −$2,558
• − Management: −$2,558
• − Depreciation: −$4,625
• Taxable income: $10,145
• Est. tax owed @ 24.0%: −$2,435
• After-tax cash flow: $9,638/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This manufactured home requires moderate repairs and maintenance, with updates to the kitchen, bathrooms, and landscaping to significantly increase its value.

Repairs flagged

• Minor kitchen backsplash — checkered tile
• Minor bathroom fixtures — outdated
• Moderate landscaping — no landscaping

Value-add opportunities

• Both paint interior walls — fresh paint enhances curb appeal and interior
• Both update kitchen backsplash — new backsplash improves aesthetics and functionality
• Both update bathroom fixtures — new fixtures improve aesthetics and functionality
• Both landscaping — landscaping enhances curb appeal and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen backsplash · checkered tile	Minor	$500–3,000
bathroom fixtures · outdated	Minor	$500–3,000
landscaping · no landscaping	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$4,000–21,000

Value-add ROI direction

• Both paint interior walls — fresh paint enhances curb appeal and interior ↑
• Both update kitchen backsplash — new backsplash improves aesthetics and functionality ↑
• Both update bathroom fixtures — new fixtures improve aesthetics and functionality ↑
• Both landscaping — landscaping enhances curb appeal and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Perris Union High
• NCES district ID: 0630210
• Math proficiency: 21% ▲ 2.00%
• Reading proficiency: 48% ▲ 5.00%
• Median HH income: $49,210
• Composite: 29.75/100
• National rank: #6439
• State rank: #282 of 517 in CA

Livability — Perris

• Score: 67/100
• State rank: #322
• US rank: #10902

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Perris, CA
• County: Riverside County · 2,287,001 people
• City population: 118,178
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 60,096
• Household income: $92,309
• Rent vs Own: 28.1% rent · 71.9% own
• Severe rent burden: 1152.0

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: Predominantly Hispanic (78%)
• Race & ethnicity: Hispanic / Latino 78% Two or more races 18% Black 9% White 8% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 70%
• Common ancestry: Lithuanian 1%
• Foreign-born: 30% · Canada, Jamaica
• Languages at home: 34% English-only · Spanish 62% Tagalog/Filipino 1%

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: ▼ -43.87%
• Current HPI: 421.3426
• Rent YoY: ▲ 7.69%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-05-03 Listed $159,000 CRMLS
• 2026-05-01 Coming Soon $159,000 CRMLS