1203 W 6th #9 · Corona, CA 92882

$120,000

2 bd · 2.0 ba · 868 sqft · Manufactured public records · 42 Days on market

Built 1999 $138/sqft · 41% above area Est $85k · 41% 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
• Schools +5.1/10.0
• Livability +3.2/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Most affordable way to own a HOME in Corona California! 55+ community with so much to offer. It's located right in the middle of Corona, quick access to the 91 Freeway. Single Wide, 2 Bedroom, 2 Bathroom, 868 sqft. , 3 cars deep covered carport. ADDITIONAL FEATURES: Storage Shed, Inside Washer & Dryer, Laminate/Vinyl floors throughout your mobile home except the Master Bedroom with carpet, Central Heating & Air, Fireplace. This Mobile Home is in very good condition, built in 1999. Flamingo Mobile Lodge has one of the least expensive monthly lease rates in Corona. Large on sight Solar project is being built and should be completed in early 2024. Additional parking and RV Parking are available to tenants.

Key facts

• 3 parking spots
• Community pool
• Built 1999

Property features AI

Finance

• Other: Elevation units listed in feet; Directions: West on 6th St past Lincoln Ave; park entrance on the right
• Financial info: Land lease: $900 monthly (park)
• HOA & community: Senior community; Park name: Flamingo Mobile Lodge; Manager approval required; Pets allowed; Community features: storm drains

Exterior

• Parking: Attached carport with 3 covered spaces; Total parking for 3 vehicles
• Security: Carbon monoxide and smoke detectors
• Utilities: Public sewer; Water from district/public (see remarks); Other utilities (see remarks)
• Home design: Single-story mobile home; Mobile home remains on property; Mobile dimensions approximately 14 ft by 62 ft; Facing/entry level at grade
• Construction: See remarks for foundation details; One story
• Exterior features: Back yard; Close to clubhouse; In-ground community pool; One storage shed

Interior

• Kitchen: Built-in range; Refrigerator; Dishwasher; Kitchen open to family room; Formica counters
• Bedrooms: Primary bedroom (main level)
• Flooring: Vinyl; Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (furnace); Central air conditioning
• Interior features: Ceiling fan; Open floor plan; Formica counters; Carbon monoxide detector(s); Smoke detector
• Laundry & utility: Inside laundry in a dedicated room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $120k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 18.0% vs local median 2.9% in Corona — 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 63/100 on livability (#461 in CA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A-; Watch: commute C-, health & safety D, 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 (+1.4%/yr); 126 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals leasing fast (median 11d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k 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 + 1.4% rent growth), your $34k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y 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.
• Current owner paid $100k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; extreme-heat days projected 6→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $116,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.98% ✓
• Cap rate: 18.05%
• Cash-on-cash: 41.97%
• DSCR: 2.87
• GRM: 4.2

CMA / ARV

• ARV (median comp): $85,076
• List price: $120,000
• Delta: 41.05%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1203 W 6th St #63	0.00mi	2/1.0	953 (+10%)	21mo	$79,000	$83	62

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 · 1.45% rent growth · sell at horizon

5-year hold

• IRR: 36.9%
• Equity multiple: 2.54×
• Total profit: $51,708
• Equity at exit: $17,892

10-year hold

• IRR: 42.8%
• Equity multiple: 4.77×
• Total profit: $126,697
• Equity at exit: $10,375

Cash invested: $33,600 (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 92882

• Rents YoY: 1.4%
• Active inventory: 126
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $2,382 high
• Mortgage (P&I): −$629
• Tax from tax record: −$27 /mo · $326/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$500
• Net cashflow: $1,175

Break-even live

Break-even rent $894

Max offer price $120,000

Occupancy floor 46%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1211 W 6th St Corona, CA	1.0–2.0	1.0–2.0	723	$2,435	$3.37	3d	2	0.14mi
1261 Ryan Ln Corona, CA	2.0	1.5–2.0	860	$2,425	$2.82	24d	2	0.33mi
945 W 5th St Unit A09 Corona, CA	1.0	1.0	555	$1,495	$2.69	43d	1	0.35mi
901 S Smith Ave Corona, CA	2.0	2.0	985	$1,950	$1.98	43d	1	0.39mi
730 Via De Luna Corona, CA	1.0–2.0	1.0	690	$2,156	$3.12	1d	9	0.54mi
125 N Buena Vista Ave Corona, CA	2.0	2.0	747	$2,100	$2.81	11d	1	0.57mi
125 N Buena Vista Ave Apt H Corona, CA	2.0	2.0	785	$2,000	$2.55	24d	1	0.58mi
610 W Grand Blvd Unit 4 Corona, CA	1.0	1.0	600	$1,600	$2.67	5d	1	0.65mi
505 W Grand Blvd Corona, CA	1.0	1.0	696	$1,795	$2.58	5d	1	0.68mi
801 S Merrill St Corona, CA	1.0	1.0	600	$1,595	$2.66	43d	1	0.87mi
260 W 3rd St Corona, CA	2.0	1.5	832	$2,250	$2.70	43d	1	0.97mi
1700 Via Pacifica Corona, CA	1.0–3.0	1.0–2.0	1000	$2,649	$2.65	1d	26	1.02mi
111 W Harrison St Corona, CA	1.0–2.0	1.0–2.0	900	$3,160	$3.51	1d	15	1.15mi
211 W Rincon St Corona, CA	1.0–2.0	1.0–2.0	948	$3,005	$3.17	1d	17	1.16mi
418 N Main St Corona, CA	1.0–2.0	1.0–2.0	999	$2,940	$2.94	2d	16	1.19mi
915 Paseo Grande Corona, CA	2.0	1.5	1100	$2,199	$2.00	43d	1	1.19mi
1885 San Remo Dr Corona, CA	1.0	1.0	590	$2,310	$3.91	1d	3	1.21mi
508 S Victoria Ave Corona, CA	1.0–2.0	1.0–1.5	652	$1,995	$3.06	16d	4	1.21mi
508 S Victoria Ave Apt 21 Corona, CA	2.0	1.5	705	$1,895	$2.69	24d	1	1.21mi
508 S Victoria Ave Unit 01 Corona, CA	1.0	1.0	600	$1,745	$2.91	24d	1	1.21mi
1554 Border Ave Corona, CA	2.0	1.0	860	$2,300	$2.67	12d	1	1.24mi
461 River Rd Unit 473-B Corona, CA	2.0	1.5	1072	$2,100	$1.96	16d	1	1.35mi
931 Rebecca Way Corona, CA	1.0–2.0	1.0–2.0	766	$2,485	$3.24	1d	7	1.44mi
928 N Vicentia Ave Unit C Corona, CA	2.0	1.5	1050	$2,100	$2.00	5d	1	1.45mi
985 Samar Ct Corona, CA	2.0	2.0	945	$2,208	$2.34	5d	3	1.46mi

Listing history 21 events

1. 2026-06-18
   days on market $120,000 Active 42 DOM
2. 2026-06-17
   days on market $120,000 Active 41 DOM
3. 2026-06-16
   days on market $120,000 Active 40 DOM
4. 2026-06-15
   days on market $120,000 Active 39 DOM
5. 2026-06-13
   days on market $120,000 Active 37 DOM
6. 2026-06-13
   days on market $120,000 Active 36 DOM
7. 2026-06-09
   days on market $120,000 Active 33 DOM
8. 2026-06-08
   days on market $120,000 Active 32 DOM
9. 2026-06-07
   days on market $120,000 Active 31 DOM
10. 2026-06-04
    days on market $120,000 Active 28 DOM
11. 2026-06-03
    days on market $120,000 Active 27 DOM
12. 2026-06-02
    days on market $120,000 Active 26 DOM
13. 2026-06-01
    days on market $120,000 Active 25 DOM
14. 2026-05-31
    days on market $120,000 Active 24 DOM
15. 2026-05-07
    listed $120,000 Active 1884-char remark
16. 2024-01-24
    soldstatus $100,000 Closed Sale 724-char remark

    Show marketing remark (724 chars)

    Most affordable way to own a HOME in Corona California! 55+ community with so much to offer. It's located right in the middle of Corona, quick access to the 91 Freeway. Single Wide, 2 Bedroom, 2 Bathroom, 868 sqft. , 3 cars deep covered carport. ADDITIONAL FEATURES: Storage Shed, Inside Washer & Dryer, Laminate/Vinyl floors throughout your mobile home except the Master Bedroom with carpet, Central Heating & Air, Fireplace. This Mobile Home is in very good condition, built in 1999. Flamingo Mobile Lodge has one of the least expensive monthly lease rates in Corona. Large on sight Solar project is being built and should be completed in early 2024. Additional parking and RV Parking are available to tenants.

17. 2023-12-21
    status Pending Sale 724-char remark

    Show marketing remark (724 chars)

    Most affordable way to own a HOME in Corona California! 55+ community with so much to offer. It's located right in the middle of Corona, quick access to the 91 Freeway. Single Wide, 2 Bedroom, 2 Bathroom, 868 sqft. , 3 cars deep covered carport. ADDITIONAL FEATURES: Storage Shed, Inside Washer & Dryer, Laminate/Vinyl floors throughout your mobile home except the Master Bedroom with carpet, Central Heating & Air, Fireplace. This Mobile Home is in very good condition, built in 1999. Flamingo Mobile Lodge has one of the least expensive monthly lease rates in Corona. Large on sight Solar project is being built and should be completed in early 2024. Additional parking and RV Parking are available to tenants.

18. 2023-12-05
    listed $110,000 Active 724-char remark

    Show marketing remark (724 chars)

    Most affordable way to own a HOME in Corona California! 55+ community with so much to offer. It's located right in the middle of Corona, quick access to the 91 Freeway. Single Wide, 2 Bedroom, 2 Bathroom, 868 sqft. , 3 cars deep covered carport. ADDITIONAL FEATURES: Storage Shed, Inside Washer & Dryer, Laminate/Vinyl floors throughout your mobile home except the Master Bedroom with carpet, Central Heating & Air, Fireplace. This Mobile Home is in very good condition, built in 1999. Flamingo Mobile Lodge has one of the least expensive monthly lease rates in Corona. Large on sight Solar project is being built and should be completed in early 2024. Additional parking and RV Parking are available to tenants.

19. 2020-06-04
    soldstatus $52,000 Closed Sale

    Show marketing remark (221 chars)

    Must see 55+ Community Mobile Home in desirable area of Corona. Built in 1999, 2 bedroom and 2 baths. This mobile home has a carport and a very nice back area for gardening. Owners took very good care of inside and out.

20. 2020-04-06
    status Pending Sale

    Show marketing remark (221 chars)

    Must see 55+ Community Mobile Home in desirable area of Corona. Built in 1999, 2 bedroom and 2 baths. This mobile home has a carport and a very nice back area for gardening. Owners took very good care of inside and out.

21. 2020-03-06
    listed $52,000 Active

    Show marketing remark (221 chars)

    Must see 55+ Community Mobile Home in desirable area of Corona. Built in 1999, 2 bedroom and 2 baths. This mobile home has a carport and a very nice back area for gardening. Owners took very good care of inside and out.

ⓘ 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: $326 · $27/mo
• Projected year-2 tax: $912 · $76/mo
• Expected delta: +$586/yr (+$49/mo · 179.7%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (shaded) · 24% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 6 d/yr ≥100°F today · 16 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: $28,583
• − Mortgage interest: −$6,722
• − Property taxes: −$326
• − Insurance: −$600
• − Repairs & maintenance: −$2,287
• − Management: −$2,287
• − Depreciation: −$3,491
• Taxable income: $12,871
• Est. tax owed @ 24.0%: −$3,089
• After-tax cash flow: $11,014/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 — Corona

• Score: 63/100
• State rank: #461
• US rank: #15787

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Corona, CA
• County: Riverside County · 2,287,001 people
• City population: 188,369
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 68,715
• Household income: $104,457
• Rent vs Own: 35.5% rent · 64.5% own
• Severe rent burden: 1971.0

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 0.62)
• Race & ethnicity: Hispanic / Latino 52% White 31% Two or more races 17% Asian 9% Black 4%
• Hispanic origin (detail): Mexican 44% Puerto Rican 1%
• Common ancestry: Italian 4% Romanian 1% Portuguese 1%
• Foreign-born: 24% · Canada, South Korea, China
• Languages at home: 54% English-only · Spanish 36% Other Indo-European 3% Arabic 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: ▼ -707.65%
• Current HPI: 367.5939
• Rent YoY: ▲ 1.45%
• 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

+130.8% since first listed

7 events — show timeline

• 2026-05-07 Listed $120,000 CRMLS
• 2024-01-24 Sold (MLS) $100,000 CRMLS
• 2023-12-21 Pending — CRMLS
• 2023-12-05 Listed $110,000 CRMLS
• 2020-06-04 Sold (MLS) $52,000 CRMLS
• 2020-04-06 Pending — CRMLS
• 2020-03-06 Listed $52,000 CRMLS

Property tax history

-1.3%/yr

Latest (2025): $326 · +22.2% YoY. Source: county tax records.