1195 W SPRING St · Highgrove, CA 92507

$885,000

8 bd · 5.0 ba · 3,264 sqft · MultiFamily · 142 Days on market

Built 1962 9,147 sqft lot $271/sqft · 6% below area Est $938k · 6% under

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Why this score? — see what drove the D 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 +12.3/30.0
• ARV discount +10.1/15.0
• Schools +4.1/10.0
• DSCR +3.6/10.0
• 1% rule +2.7/10.0
• Rent growth +2.6/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 2 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Pleased to exclusively present the opportunity to acquire a five-unit multifamily property built in 1962 with 3,264 rentable square feet on a 0.21 acre lot in the City of Riverside. The property features a highly functional unit mix of one and two bedroom floor plans, with single-story construction. The property has an on-site laundry room, wall-mounted air conditioner & heater units, & each unit is separately metered for gas and electricity. The property is on septic. Parking consists of 5 carport parking spaces and 4 open space parking. Riverside presents a compelling investment environment driven by a diverse employment base, continued population growth, and relative affordability compared to coastal markets. Major employment anchors include the County of Riverside, March Air Reserve Base, and the University of California, Riverside, which together support stable housing demand from government, military, academic, and healthcare professionals. Residents enjoy a strong quality of life with access to Downtown Riverside amenities such as the historic Mission Inn, the Fox Performing Arts Center, and outdoor recreation at California Citrus State Historic Park. Ongoing downtown reinvestment, including the Riverside Alive initiative featuring new residential, office, retail, hotel uses, and convention center expansion, further reinforces long-term economic growth and rental demand. With solid fundamentals, efficient unit layouts, limited utility exposure, and a growing Inland Empire market, 1195 Spring Street offers investors an attractive opportunity to acquire a stable, well-located multifamily asset positioned for durable income and long-term appreciation.

Key facts

• On-site laundry room
• Multifamily property
• Separately metered

Tags

• MULTIFAMILY PROPERTY
• ON-SITE LAUNDRY ROOM
• WALL-MOUNTED AIR CONDITIONER
• SEPARATELY METERED
• CARPORT PARKING SPACES
• OPEN SPACE PARKING

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/?-bath units multifamily listed at $885k.

Deal economics

• At list price, monthly cash flow is $-169 ($-2k/yr) — negative. Per door: $-85/mo.
• To cash-flow at today's rent, offer at most $855k (3.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $679k (23.3% below list).
• Recommended offer: $679k (23.3% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.1% in Highgrove — 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 49/100 on livability (#1,172 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A, employment A-; Watch: crime C-, schools F, amenities F.
• Riverside Unified (urban): math 36% / reading 51% proficiency, ranked #574 of 1,400 in CA (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents flat; 156 active listings in the ZIP; solid renter incomes; 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).
• At $6,788/mo this rent would consume 108% of the median local household income ($75k/yr) (locally 3590% 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 $6k of loan paydown is wiped out by about $27k 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.

Negotiation context

• It's been on market 142 days — a 12% lower offer ($779k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 21y ago; this cycle's ask has dropped $80k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $498k; list at $885k implies a 78% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $678,800 (23.3% below list)

Questions for the listing agent

1. 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?
2. It's been on market 142 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.77% ✗
• Cap rate: 6.06%
• Cash-on-cash: -0.82%
• DSCR: 0.96
• GRM: 10.9

CMA / ARV

• ARV (median comp): $938,371
• List price: $885,000
• Delta: -5.69%
• Verdict: FAIR
• Comps: 6 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.53% rent growth · sell at horizon

5-year hold

• IRR: -20.2%
• Equity multiple: 0.31×
• Total profit: $-170,895
• Equity at exit: $131,956

10-year hold

• IRR: -19.1%
• Equity multiple: 0.08×
• Total profit: $-228,016
• Equity at exit: $76,519

Cash invested: $247,800 (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 92507

• Rents YoY: 0.5%
• Active inventory: 156
• Price-to-rent: 21.7×

Monthly cashflow live

• Estimated rent: $6,788 high
• Mortgage (P&I): −$4,641
• Tax from tax record: −$522 /mo · $6,261/yr
• Insurance: −$369
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,425
• Net cashflow: $-169

Break-even live

Break-even rent $7,002

Max offer price $855,139

Occupancy floor 97%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	4	—	$6,788
Total (2 units)			$6,788

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: $221,250
• Closing costs: $26,550
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-18
   days on market $885,000 Active 142 DOM
2. 2026-06-17
   days on market $885,000 Active 141 DOM
3. 2026-06-16
   days on market $885,000 Active 140 DOM
4. 2026-06-15
   days on market $885,000 Active 139 DOM
5. 2026-06-13
   days on market $885,000 Active 137 DOM
6. 2026-06-13
   days on market $885,000 Active 136 DOM
7. 2026-06-09
   days on market $885,000 Active 133 DOM
8. 2026-06-08
   days on market $885,000 Active 132 DOM
9. 2026-06-07
   days on market $885,000 Active 131 DOM
10. 2026-06-04
    days on market $885,000 Active 128 DOM
11. 2026-06-03
    days on market $885,000 Active 127 DOM
12. 2026-06-02
    days on market $885,000 Active 126 DOM
13. 2026-06-01
    days on market $885,000 Active 125 DOM
14. 2026-05-31
    days on market $885,000 Active 124 DOM
15. 2026-04-20
    price $920,000 1699-char remark

    Show marketing remark (1699 chars)

    Pleased to exclusively present the opportunity to acquire a five-unit multifamily property built in 1962 with 3,264 rentable square feet on a 0.21 acre lot in the City of Riverside. The property features a highly functional unit mix of one and two bedroom floor plans, with single-story construction. The property has an on-site laundry room, wall-mounted air conditioner & heater units, & each unit is separately metered for gas and electricity. The property is on septic. Parking consists of 5 carport parking spaces and 4 open space parking. Riverside presents a compelling investment environment driven by a diverse employment base, continued population growth, and relative affordability compared to coastal markets. Major employment anchors include the County of Riverside, March Air Reserve Base, and the University of California, Riverside, which together support stable housing demand from government, military, academic, and healthcare professionals. Residents enjoy a strong quality of life with access to Downtown Riverside amenities such as the historic Mission Inn, the Fox Performing Arts Center, and outdoor recreation at California Citrus State Historic Park. Ongoing downtown reinvestment, including the Riverside Alive initiative featuring new residential, office, retail, hotel uses, and convention center expansion, further reinforces long-term economic growth and rental demand. With solid fundamentals, efficient unit layouts, limited utility exposure, and a growing Inland Empire market, 1195 Spring Street offers investors an attractive opportunity to acquire a stable, well-located multifamily asset positioned for durable income and long-term appreciation.

16. 2026-01-27
    listed $965,000 Active 1699-char remark

    Show marketing remark (1699 chars)

    Pleased to exclusively present the opportunity to acquire a five-unit multifamily property built in 1962 with 3,264 rentable square feet on a 0.21 acre lot in the City of Riverside. The property features a highly functional unit mix of one and two bedroom floor plans, with single-story construction. The property has an on-site laundry room, wall-mounted air conditioner & heater units, & each unit is separately metered for gas and electricity. The property is on septic. Parking consists of 5 carport parking spaces and 4 open space parking. Riverside presents a compelling investment environment driven by a diverse employment base, continued population growth, and relative affordability compared to coastal markets. Major employment anchors include the County of Riverside, March Air Reserve Base, and the University of California, Riverside, which together support stable housing demand from government, military, academic, and healthcare professionals. Residents enjoy a strong quality of life with access to Downtown Riverside amenities such as the historic Mission Inn, the Fox Performing Arts Center, and outdoor recreation at California Citrus State Historic Park. Ongoing downtown reinvestment, including the Riverside Alive initiative featuring new residential, office, retail, hotel uses, and convention center expansion, further reinforces long-term economic growth and rental demand. With solid fundamentals, efficient unit layouts, limited utility exposure, and a growing Inland Empire market, 1195 Spring Street offers investors an attractive opportunity to acquire a stable, well-located multifamily asset positioned for durable income and long-term appreciation.

17. 2017-10-31
    soldstatus $497,800 Closed Sale
18. 2017-10-31
    soldstatus $497,800
19. 2017-10-30
    soldstatus $483,000
20. 2017-10-20
    status Pending Sale
21. 2017-09-16
    historical Active Under Contract
22. 2017-02-08
    listed $497,800 Active
23. 2017-02-07
    listed $497,800
24. 2016-04-15
    soldstatus $415,000 Closed Sale
25. 2016-04-15
    soldstatus $415,000
26. 2016-04-12
    soldstatus $415,000
27. 2016-04-02
    status Pending Sale
28. 2016-02-12
    status Active
29. 2016-01-29
    status Pending Sale
30. 2015-08-29
    price $419,000
31. 2015-07-22
    status Active
32. 2015-07-08
    status Pending Sale
33. 2015-06-30
    price $430,000
34. 2015-05-27
    price $439,000
35. 2015-04-18
    price $450,000
36. 2015-04-01
    listed $470,000 Active
37. 2015-03-31
    listed $419,000
38. 2013-07-01
    historical
39. 2012-12-24
    status Active
40. 2012-12-12
    historical Hold
41. 2012-11-06
    listed $375,000 Active
42. 2005-12-22
    soldstatus $495,000
43. 2005-12-06
    soldstatus $495,000
44. 2005-12-01
    soldstatus $495,000
45. 2005-09-07
    listed $499,900
46. 2005-09-07
    listed $499,900
47. 2005-09-03
    historical
48. 2005-09-01
    historical
49. 2005-04-27
    listed $520,000
50. 2005-04-27
    listed $520,000

ⓘ 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: $6,261 · $522/mo
• Projected year-2 tax: $6,726 · $560/mo
• Expected delta: +$465/yr (+$39/mo · 7.4%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 8/10 Severe 7 d/yr ≥101°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 22 unhealthy d/yr today · 27 by 30 yrs out

Taxation est. · year 1

• Rental income: $81,456
• − Mortgage interest: −$49,574
• − Property taxes: −$6,261
• − Insurance: −$4,425
• − Repairs & maintenance: −$6,516
• − Management: −$6,516
• − Depreciation: −$25,745
• Taxable loss: −$17,582
• Est. tax savings @ 24.0%: +$4,220
• After-tax cash flow: $2,191/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: Riverside Unified
• NCES district ID: 0633150
• Math proficiency: 36% ▲ 1.00%
• Reading proficiency: 51% ▲ 2.00%
• Median HH income: $62,038
• Composite: 40.8/100
• National rank: #7563
• State rank: #574 of 1400 in CA

Livability — Highgrove

• Score: 49/100
• State rank: #1172
• US rank: #25922

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Highgrove, CA
• County: Riverside County · 2,287,001 people
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 64,015
• Household income: $75,303
• Rent vs Own: 62.9% rent · 37.1% own
• Severe rent burden: 3590.0

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 0.66)
• Race & ethnicity: Hispanic / Latino 52% White 21% Asian 14% Two or more races 13% Black 9% Native American 1%
• Hispanic origin (detail): Mexican 44%
• Common ancestry: Italian 2% Lithuanian 1% Ukrainian 1%
• Foreign-born: 23% · Canada, China, South Korea
• Languages at home: 52% English-only · Spanish 36% Chinese 4% Other Indo-European 3%

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: ▼ -401.54%
• Current HPI: 442.9617
• Rent YoY: ▲ 0.53%
• 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

+657.2% since first listed

40 events — show timeline

• 2026-04-20 Price Changed $920,000 CRMLS
• 2026-01-27 Listed $965,000 CRMLS
• 2017-10-31 Sold (MLS) $497,800 SDMLS
• 2017-10-31 Sold (MLS) $497,800 CRMLS
• 2017-10-30 Sold (Public Records) $483,000 Public Records
• 2017-10-20 Pending — CRMLS
• 2017-09-16 Contingent — CRMLS
• 2017-02-08 Listed $497,800 CRMLS
• 2017-02-07 Listed $497,800 SDMLS
• 2016-04-15 Sold (MLS) $415,000 SDMLS
• 2016-04-15 Sold (MLS) $415,000 CRMLS
• 2016-04-12 Sold (Public Records) $415,000 Public Records
• 2016-04-02 Pending — CRMLS
• 2016-02-12 Relisted — CRMLS
• 2016-01-29 Pending — CRMLS
• 2015-08-29 Price Changed $419,000 CRMLS
• 2015-07-22 Relisted — CRMLS
• 2015-07-08 Pending — CRMLS
• 2015-06-30 Price Changed $430,000 CRMLS
• 2015-05-27 Price Changed $439,000 CRMLS
• 2015-04-18 Price Changed $450,000 CRMLS
• 2015-04-01 Listed $470,000 CRMLS
• 2015-03-31 Listed $419,000 SDMLS
• 2013-07-01 Listing Removed — CRMLS
• 2012-12-24 Relisted — CRMLS
• 2012-12-12 Delisted — CRMLS
• 2012-11-06 Listed $375,000 CRMLS
• 2005-12-22 Sold (MLS) $495,000 CRMLS
• 2005-12-06 Sold (Public Records) $495,000 Public Records
• 2005-12-01 Sold (MLS) $495,000 CRMLS
• 2005-09-07 Listed $499,900 CRMLS
• 2005-09-07 Listed $499,900 CRMLS
• 2005-09-03 Listing Removed — CRMLS
• 2005-09-01 Listing Removed — CRMLS
• 2005-04-27 Listed $520,000 CRMLS
• 2005-04-27 Listed $520,000 CRMLS
• 2002-09-30 Sold (Public Records) $290,000 Public Records
• 1999-07-12 Sold (Public Records) $214,000 Public Records
• 1996-12-20 Sold (Public Records) $100,400 Public Records
• 1986-01-01 Sold (Public Records) $121,500 Public Records

Property tax history

+0.6%/yr

Latest (2025): $6,261 · +3.3% YoY. Source: county tax records.