0 Lot 298 Hampshire Dr

North Shore, CA 92587

$49,999F

None bd · None ba · — sqft · Built — · Land · Active · 267 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $0/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$62
• HOA: −$0
• Vac / Maint / Mgmt: −$0
• Net cashflow: $-324/mo
• Annual: $-3,890/yr
• Cap rate: -1.49%
• Cash-on-cash: -27.78%
• DSCR: -0.24
• 1% rule: 0.00%
• Cash to close: $14,000

Investor read

• This is a land listed at $50k.
• At list price, monthly cash flow is $-324 ($-4k/yr) — negative.
• Rent doesn't cover operating costs at any purchase price — skip.
• It's been on market 267 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 44/100 on livability (#1,323 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing B+; Watch: schools F, amenities F, commute F.
• Coachella Valley Unified (rural): math 12% / reading 23% proficiency, ranked #481 of 517 in CA (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 248 active listings in the ZIP; 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).
• Riverside County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 8 sale attempts since 19y ago; this cycle's ask has dropped $80k (62%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• It's been on market 267 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.