1203 W 6th St #81 · Corona, CA 92884

$99,900

2 bd · 1.0 ba · 720 sqft · Manufactured · 9 Days on market

Built 1965 Est $96k · at est.

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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 +5.6/15.0
• Schools +5.1/10.0
• Appreciation +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

CUTE 2 BEDROOM MOBILE HOME CENTRALLY LOCATED IN CORONA. PARK HAS VERY LOW SPACE RENT OF $780 FOR NEW OWNER. HOME HAS A SPACIOUS SIDE YARD/PATIO FOR YOUR OUTDOOR RELAXATION. IT ALSO HAS PARKING FOR TWO CARS. CLOSE TO SHOPPING AND FREEWAY ACCESS.

Key facts

• Centrally located
• Spacious side yard
• Freeway access

Tags

• CENTRALLY LOCATED
• SPACIOUS SIDE YARD
• PARKING FOR TWO CARS
• CLOSE TO SHOPPING
• FREEWAY ACCESS

Property features AI

Finance

• Other: Pets allowed: contact park for details
• HOA & community: Senior community; Suburban setting; Located in FLAMINGO MOBILE LODGE park; Park land lease: $780 monthly (current)

Exterior

• Parking: Attached carport with 2 spaces
• Utilities: Public sewer; District/public water
• Home design: Single-story mobile home (12' x 60'); Entry on side
• Construction: Mobile home remains on site; Year built source: other
• Exterior features: Community pool; Yard

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Wall/window cooling
• Interior features: Side entry
• Laundry & utility: Laundry located outside

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $100k.

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 ($2k rent vs $100k).
• Cap rate 18.8% 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: 1 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($691 loan paydown + $3k appreciation (3.0% local appreciation)).
• 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 + 3.0% rent growth), your $28k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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.
• Current owner paid $65k; list at $100k implies a 54% gain — meaningful room to come down on a strong offer.

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 $99,900

Questions for the listing agent

1. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 2.19% ✓
• Cap rate: 18.80%
• Cash-on-cash: 44.67%
• DSCR: 2.99
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $95,760
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
995 Pomona Rd #65	0.51mi	2/1.0	676 (-6%)	6mo	$90,000	$133	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 50.0%
• Equity multiple: 3.80×
• Total profit: $78,379
• Equity at exit: $44,919

10-year hold

• IRR: 49.7%
• Equity multiple: 7.65×
• Total profit: $186,150
• Equity at exit: $69,226

Cash invested: $27,972 (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 92884

• Active inventory: 1
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $2,192 high
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,498/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$460
• Net cashflow: $1,041

Break-even live

Break-even rent $874

Max offer price $99,900

Occupancy floor 48%

Sensitivity live

Price	-10% $1,110	-5% $1,076	+0% $1,041	+5% $1,007	+10% $972
Rent	-10% $868	-5% $955	+0% $1,041	+5% $1,128	+10% $1,214
Rate	-1.0pp $1,091	-0.5pp $1,067	base $1,041	+0.5pp $1,015	+1.0pp $989

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 15 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	0.12mi
945 W 5th St Unit A09 Corona, CA	1.0	1.0	555	$1,495	$2.69	44d	1	0.34mi
730 Via De Luna Corona, CA	1.0–2.0	1.0	690	$2,161	$3.13	0d	8	0.53mi
125 N Buena Vista Ave Corona, CA	2.0	2.0	747	$2,100	$2.81	12d	1	0.60mi
610 W Grand Blvd Unit 4 Corona, CA	1.0	1.0	600	$1,600	$2.67	6d	1	0.63mi
505 W Grand Blvd Corona, CA	1.0	1.0	696	$1,795	$2.58	6d	1	0.67mi
801 S Merrill St Corona, CA	1.0	1.0	600	$1,595	$2.66	44d	1	0.84mi
1700 Via Pacifica Corona, CA	3.0	1.0–2.0	900	$2,842	$3.16	0d	27	0.96mi
111 W Harrison St Corona, CA	1.0–2.0	1.0–2.0	900	$3,160	$3.51	0d	16	1.17mi
211 W Rincon St Corona, CA	1.0–2.0	1.0–2.0	936	$3,005	$3.21	0d	14	1.20mi
508 S Victoria Ave Unit 01 Corona, CA	1.0	1.0	600	$1,745	$2.91	25d	1	1.20mi
508 S Victoria Ave Apt 21 Corona, CA	2.0	1.5	705	$1,895	$2.69	25d	1	1.20mi
508 S Victoria Ave Corona, CA	1.0–2.0	1.0–1.5	600	$1,995	$3.33	0d	3	1.20mi
418 N Main St Corona, CA	1.0–2.0	1.0–2.0	999	$2,940	$2.94	0d	14	1.21mi
931 Rebecca Way Corona, CA	1.0–2.0	1.0–2.0	766	$2,485	$3.24	0d	8	1.49mi

Listing history 7 events

1. 2026-06-18
   days on market $99,900 Active 9 DOM
2. 2026-06-17
   days on market $99,900 Active 8 DOM
3. 2026-06-16
   days on market $99,900 Active 7 DOM
4. 2026-06-15
   days on market $99,900 Active 6 DOM
5. 2026-06-13
   days on market $99,900 Active 4 DOM
6. 2026-06-13
   remarks 223-char remark
7. 2026-06-13
   listed $99,900 Active 3 DOM

ⓘ 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 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: $26,302
• − Mortgage interest: −$5,596
• − Property taxes: −$1,498
• − Insurance: −$500
• − Repairs & maintenance: −$2,104
• − Management: −$2,104
• − Depreciation: −$2,906
• Taxable income: $11,593
• Est. tax owed @ 24.0%: −$2,782
• After-tax cash flow: $9,711/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

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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• 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

+53.7% since first listed

6 events — show timeline

• 2026-06-09 Listed $99,900 CRMLS
• 2024-06-21 Sold (MLS) $65,000 CRMLS
• 2024-05-29 Pending — CRMLS
• 2024-05-24 Sold (MLS) $65,000 CRMLS
• 2024-04-22 Pending — CRMLS
• 2024-03-15 Listed $65,000 CRMLS