27701 Murrieta Rd #228 · Menifee, CA 92586

$159,000

2 bd · 2.0 ba · 1,440 sqft · Manufactured public records · 148 Days on market

Built 1978 $110/sqft · 82% above area ↓ 6% since listing

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Why this score? — see what drove the B 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
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Rent growth +4.0/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

$$ Thousands in UPGRADES completed to this Spacious 2 Bedroom, 2 Bath manufactured home in Hillside Mobile Home Estates. 55+ Gated Community. Fully remodeled with Granite Counters in Kitchen, Lots of Cabinets and storage space. Wood laminate flooring, Beamed ceilings, Shutters on every window. Laundry room with built in Cabinets. * * * Pride of ownership, one of the Best! * * * Addition off Living room (see Private remarks below), large bedrooms and Main Bedroom, both with Mirrored wardrobe closets. Main Bathroom has Garden tub. Excellent Condition inside & out including newer Tankless Water Heater and appliances. Ceiling fans throughout! Yard enclosed fenced and vinyl fencing, Turf, 2- fruit trees, Built in Shed. * * A Must See * * Community caters to 55+ with a Clubhouse, Billiards room, and swimming pool. (See Last Pictures of pool & Clubhouse). Close to Freeway, all shopping and Dining.

Key facts

• Beamed ceilings
• Garden tub
• 2 parking spots

Tags

• GRANITE COUNTERS IN KITCHEN
• WOOD LAMINATE FLOORING
• BEAMED CEILINGS
• SHUTTERS ON EVERY WINDOW
• MIRRORED WARDROBE CLOSETS
• GARDEN TUB

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $159k.

Deal economics

• At list price, monthly cash flow is $783 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $159k).
• Recommended offer: $140k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.2% vs local median 3.6% in Menifee — 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 64/100 on livability (#407 in CA) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, employment A-; Watch: schools D+, health & safety D+, amenities D.
• Menifee Union Elementary (suburban): math 43% / reading 56% proficiency, ranked #434 of 1,400 in CA (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.1%/yr); 197 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).
• At $2,382/mo this rent would consume 50% of the median local household income ($58k/yr) (locally 1163% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 + 6.1% rent growth), your $45k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 148 days — a 12% lower offer ($140k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire 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 $139,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 148 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. 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: 1.50% ✓
• Cap rate: 12.20%
• Cash-on-cash: 21.10%
• DSCR: 1.94
• GRM: 5.6

CMA / ARV

• ARV (median comp): $99,500
• List price: $159,000
• Delta: 59.80%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
27701 Murrieta #82	0.00mi	2/2.0	1,440 (0%)	1mo	$100,000	$69	99
27701 Murrieta #56	0.00mi	3/2.0 (+1)	1,440 (0%)	2mo	$100,000	$69	94
27701 Murrieta Rd #255	0.00mi	2/2.0	1,344 (-7%)	0mo	$45,000	$33	89
27701 Murrieta Rd #111	0.00mi	3/2.0 (+1)	1,508 (+5%)	2mo	$115,000	$76	86
27250 Murrieta #120	0.60mi	2/2.0	1,440 (0%)	1mo	$200,000	$139	71
27250 Murrieta Rd #109	0.60mi	2/2.0	1,440 (0%)	1mo	$170,600	$118	71
27250 Murrieta #217	0.60mi	3/2.0 (+1)	1,488 (+3%)	2mo	$215,000	$144	60
27250 Murrieta Rd #359	0.60mi	2/2.0	1,320 (-8%)	1mo	$55,000	$42	57
27250 Murrieta #85	0.60mi	2/2.0	1,570 (+9%)	0mo	$145,000	$92	57
27250 Murrieta Rd #332	0.60mi	2/2.0	1,570 (+9%)	2mo	$160,000	$102	56
27250 Murrieta Rd #216	0.60mi	2/2.0	1,296 (-10%)	2mo	$110,000	$85	54
27250 Murrieta #126	0.57mi	3/2.0 (+1)	1,568 (+9%)	0mo	$225,000	$143	54

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 · 6.1% rent growth · sell at horizon

5-year hold

• IRR: 17.0%
• Equity multiple: 1.71×
• Total profit: $31,795
• Equity at exit: $23,707

10-year hold

• IRR: 27.7%
• Equity multiple: 3.82×
• Total profit: $125,541
• 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 92586

• Home prices YoY: -19.1%
• Rents YoY: 6.1%
• Active inventory: 197
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $2,382 high
• Mortgage (P&I): −$834
• Tax est. 1.5%: −$199 /mo · $2,385/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$500
• Net cashflow: $783

Break-even live

Break-even rent $1,391

Max offer price $159,000

Occupancy floor 62%

Sensitivity live

Price	-10% $893	-5% $838	+0% $783	+5% $728	+10% $673
Rent	-10% $595	-5% $689	+0% $783	+5% $877	+10% $971
Rate	-1.0pp $863	-0.5pp $823	base $783	+0.5pp $742	+1.0pp $700

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 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
25861 McCall Blvd Menifee, CA	2.0	2.0	1378	$2,350	$1.71	0d	1	0.27mi
28033 Radford Dr Menifee, CA	2.0	2.0	1520	$2,400	$1.58	11d	1	0.32mi
29196 Crestone Dr Sun City, CA	2.0	2.0	1393	$1,995	$1.43	0d	1	0.39mi
27305 Uppercrest Ct Menifee, CA	3.0	2.0	1318	$2,353	$1.79	22d	1	0.47mi
28055 Grosse Point Dr Menifee, CA	1.0	1.0	1767	$1,495	$0.85	0d	1	0.49mi
26156 Birkdale Rd Menifee, CA	2.0	2.0	1285	$2,000	$1.56	2d	1	0.49mi
25615 Union Hill Dr Menifee, CA	3.0	2.0	1350	$2,550	$1.89	15d	1	0.54mi
25650 Hartwick Rd Menifee, CA	3.0	2.0	1603	$2,650	$1.65	22d	1	0.54mi
28375 Paseo Grande Dr Menifee, CA	2.0	2.0	1285	$2,395	$1.86	0d	1	0.54mi
26217 Birkdale Rd Menifee, CA	1.0	1.0	876	$2,150	$2.45	0d	1	0.55mi
28323 Murrieta Rd Menifee, CA	2.0	2.0	1098	$2,350	$2.14	20d	1	0.59mi
28461 Portsmouth Dr Menifee, CA	3.0	2.0	1450	$2,685	$1.85	0d	1	0.79mi
26772 Maris Ct Menifee, CA	3.0	2.0	1715	$2,800	$1.63	2d	1	0.94mi
25781 Interlechen Dr Menifee, CA	3.0	2.0	1554	$2,800	$1.80	0d	1	1.00mi
26542 Sun City Blvd Menifee, CA	2.0	2.0	1530	$2,295	$1.50	11d	1	1.09mi
28880 Amersfoot Way Menifee, CA	2.0	2.0	1386	$2,400	$1.73	0d	1	1.14mi
27055 Fan Ln Menifee, CA	2.0	2.0	1800	$2,950	$1.64	0d	1	1.15mi
28894 Portsmouth Dr Menifee, CA	2.0	2.0	1500	$2,400	$1.60	0d	1	1.18mi
25946 Ridgemoor Rd Menifee, CA	3.0	2.0	1308	$2,575	$1.97	24d	1	1.24mi
25946 Ridgemoor Rd Menifee, CA	3.0	2.0	1308	$2,575	$1.97	0d	1	1.24mi
28244 Encanto Dr Menifee, CA	2.0	2.0	900	$2,300	$2.56	0d	1	1.36mi
28301 Encanto Dr Unit 10 Menifee, CA	2.0	2.0	900	$2,200	$2.44	18d	1	1.36mi
26805 China Dr Menifee, CA	3.0	2.5	1773	$3,000	$1.69	25d	1	1.39mi
28301 Encanto Dr Menifee, CA	2.0	1.0–2.0	873	$2,025	$2.32	0d	5	1.43mi
25349 Silverwood Ln Menifee, CA	3.0	2.0	1598	$3,495	$2.19	15d	1	1.45mi
29216 Deer Creek Cir Menifee, CA	1.0	1.0	949	$1,200	$1.26	4d	1	1.47mi

Listing history 15 events

1. 2026-06-18
   days on market $159,000 Active 148 DOM
2. 2026-06-17
   days on market $159,000 Active 147 DOM
3. 2026-06-16
   days on market $159,000 Active 146 DOM
4. 2026-06-15
   days on market $159,000 Active 145 DOM
5. 2026-06-13
   days on market $159,000 Active 143 DOM
6. 2026-06-09
   days on market $159,000 Active 139 DOM
7. 2026-06-08
   days on market $159,000 Active 138 DOM
8. 2026-06-07
   days on market $159,000 Active 137 DOM
9. 2026-06-04
   days on market $159,000 Active 134 DOM
10. 2026-06-03
    days on market $159,000 Active 133 DOM
11. 2026-06-02
    days on market $159,000 Active 132 DOM
12. 2026-06-01
    days on market $159,000 Active 131 DOM
13. 2026-05-31
    days on market $159,000 Active 130 DOM
14. 2026-03-20
    price $174,000 925-char remark

    Show marketing remark (925 chars)

    $$ Thousands in UPGRADES completed to this Spacious 2 Bedroom, 2 Bath manufactured home in Hillside Mobile Home Estates. 55+ Gated Community. Fully remodeled with Granite Counters in Kitchen, Lots of Cabinets and storage space. Wood laminate flooring, Beamed ceilings, Shutters on every window. Laundry room with built in Cabinets. * * * Pride of ownership, one of the Best! * * * Addition off Living room (see Private remarks below), large bedrooms and Main Bedroom, both with Mirrored wardrobe closets. Main Bathroom has Garden tub. Excellent Condition inside & out including newer Tankless Water Heater and appliances. Ceiling fans throughout! Yard enclosed fenced and vinyl fencing, Turf, 2- fruit trees, Built in Shed. * * A Must See * * Community caters to 55+ with a Clubhouse, Billiards room, and swimming pool. (See Last Pictures of pool & Clubhouse). Close to Freeway, all shopping and Dining.

15. 2026-01-20
    listed $185,000 Active 925-char remark

    Show marketing remark (925 chars)

    $$ Thousands in UPGRADES completed to this Spacious 2 Bedroom, 2 Bath manufactured home in Hillside Mobile Home Estates. 55+ Gated Community. Fully remodeled with Granite Counters in Kitchen, Lots of Cabinets and storage space. Wood laminate flooring, Beamed ceilings, Shutters on every window. Laundry room with built in Cabinets. * * * Pride of ownership, one of the Best! * * * Addition off Living room (see Private remarks below), large bedrooms and Main Bedroom, both with Mirrored wardrobe closets. Main Bathroom has Garden tub. Excellent Condition inside & out including newer Tankless Water Heater and appliances. Ceiling fans throughout! Yard enclosed fenced and vinyl fencing, Turf, 2- fruit trees, Built in Shed. * * A Must See * * Community caters to 55+ with a Clubhouse, Billiards room, and swimming pool. (See Last Pictures of pool & Clubhouse). Close to Freeway, all shopping and Dining.

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 7/10 Severe 6 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 9 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,583
• − Mortgage interest: −$8,906
• − Property taxes: −$2,385
• − Insurance: −$795
• − Repairs & maintenance: −$2,287
• − Management: −$2,287
• − Depreciation: −$4,625
• Taxable income: $7,298
• Est. tax owed @ 24.0%: −$1,752
• After-tax cash flow: $7,643/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: Menifee Union Elementary
• NCES district ID: 0624540
• Math proficiency: 43% ▬ 0.00%
• Reading proficiency: 56% ▲ 3.00%
• Median HH income: $58,228
• Composite: 45.17/100
• National rank: #5790
• State rank: #434 of 1400 in CA

Livability — Menifee

• Score: 64/100
• State rank: #407
• US rank: #13882

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Menifee, CA
• County: Riverside County · 2,287,001 people
• City population: 111,667
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 20,767
• Household income: $57,708
• Rent vs Own: 28.2% rent · 71.8% own
• Severe rent burden: 1163.0

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 0.59)
• Race & ethnicity: White 55% Hispanic / Latino 31% Two or more races 17% Black 6% Asian 3%
• Hispanic origin (detail): Mexican 25% Puerto Rican 1%
• Common ancestry: Lithuanian 3% Italian 2% Romanian 1%
• Foreign-born: 15% · Canada, Vietnam, China
• Languages at home: 77% English-only · Spanish 18% Other Asian/Pacific 1% Other Indo-European 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: ▼ -86.18%
• Current HPI: 364.9577
• Rent YoY: ▲ 6.10%
• 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

-5.9% since first listed

2 events — show timeline

• 2026-03-20 Price Changed $174,000 CRMLS
• 2026-01-20 Listed $185,000 CRMLS

Property tax history

-2.8%/yr

Latest (2025): $194 · -1.7% YoY. Source: county tax records.