3500 Buchanan St #138 · Riverside, CA 92503

$289,900

3 bd · 2.0 ba · 1,512 sqft · Manufactured · 81 Days on market

Built 2022 Good condition $192/sqft · 194% above area

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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 +23.8/30.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Condition / age +4.0/5.0
• Rent growth +3.4/5.0
• Schools +3.4/10.0
• Livability +3.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Brand new 2022 Skyline home. 3 bedrooms 2 bathrooms with 1512 living square footage. Home features granite countertop throughout home, including stainless steel refrigerator, stainless steel gas range, stainless steel dishwasher and stainless steel microwave with range hood. Full height mosaic backsplash, walk-in pantry and island with 2 overhang pendant lights, and stainless steel sink in kitchen. Ceiling fans in master bedroom and living room. Gated senior living community.

Key facts

• Granite countertop
• Community pool
• Built 2022

Tags

• GRANITE COUNTERTOP
• STAINLESS STEEL REFRIGERATOR
• STAINLESS STEEL GAS RANGE
• STAINLESS STEEL DISHWASHER
• STAINLESS STEEL MICROWAVE
• FULL HEIGHT MOSAIC BACKSPLASH

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $290k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $560 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $290k).
• Recommended offer: $273k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 3.0% in Riverside — 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 66/100 on livability (#337 in CA) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A-, commute B+; Watch: schools C-, health & safety D, crime F.
• Alvord Unified (urban): math 28% / reading 42% proficiency, ranked #852 of 1,400 in CA (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.4%/yr); 197 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).
• This rent runs 40% of the median local income ($96k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 81 days — a 6% lower offer ($273k) is reasonable based on typical stale-listing flexibility.
• 3 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.

Risks & watch-outs

• Climate carrying-cost: severe 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 $272,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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.
6. 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.
7. 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: 1.12% ✓
• Cap rate: 8.61%
• Cash-on-cash: 8.27%
• DSCR: 1.37
• GRM: 7.4

CMA / ARV

• ARV (median comp): $98,470
• List price: $289,900
• Delta: 194.40%
• 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
3500 Buchanan St #21	0.00mi	2/2.0 (-1)	1,440 (-5%)	3mo	$87,500	$61	85
3500 Buchanan St #128	0.12mi	2/2.0 (-1)	1,488 (-2%)	3mo	$72,000	$48	84
3700 Buchanan St #108	0.27mi	3/2.0	1,456 (-4%)	3mo	$189,900	$130	79
3500 Buchanan St #30	0.24mi	3/2.0	1,440 (-5%)	4mo	$81,095	$56	78
3700 Buchanan St #132	0.27mi	2/2.0 (-1)	1,440 (-5%)	2mo	$158,000	$110	72
3663 Buchanan #112	0.23mi	3/2.0	1,344 (-11%)	1mo	$169,000	$126	70
3500 Buchanan #103	0.24mi	3/2.0	1,344 (-11%)	1mo	$139,900	$104	70
3700 Buchanan St #98	0.27mi	3/2.0	1,344 (-11%)	2mo	$120,000	$89	67
3500 Buchanan St #230	0.24mi	2/2.0 (-1)	1,356 (-10%)	3mo	$173,000	$128	64
3500 Buchanan #73	0.24mi	2/2.0 (-1)	1,344 (-11%)	2mo	$71,111	$53	64
3700 Buchanan St #131	0.27mi	2/2.0 (-1)	1,344 (-11%)	0mo	$171,000	$127	64
3700 Buchanan St #105	0.27mi	2/2.0 (-1)	1,344 (-11%)	1mo	$86,000	$64	63

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 · 3.41% rent growth · sell at horizon

5-year hold

• IRR: -3.2%
• Equity multiple: 0.88×
• Total profit: $-9,942
• Equity at exit: $43,225

10-year hold

• IRR: 6.9%
• Equity multiple: 1.53×
• Total profit: $42,997
• Equity at exit: $25,065

Cash invested: $81,172 (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 92503

• Rents YoY: 3.4%
• Active inventory: 197
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $3,244 high
• Mortgage (P&I): −$1,520
• Tax est. 1.5%: −$362 /mo · $4,348/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$681
• Net cashflow: $560

Break-even live

Break-even rent $2,536

Max offer price $289,900

Occupancy floor 78%

Sensitivity live

Price	-10% $760	-5% $660	+0% $560	+5% $459	+10% $359
Rent	-10% $303	-5% $431	+0% $560	+5% $688	+10% $816
Rate	-1.0pp $706	-0.5pp $633	base $560	+0.5pp $484	+1.0pp $408

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: $72,475
• Closing costs: $8,697
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3590 Buchanan St Riverside, CA	3.0	2.0	1913	$3,500	$1.83	45d	1	0.05mi
371 Dylan Cir Corona, CA	3.0	2.0	1625	$3,500	$2.15	5d	1	0.92mi
3713 Calle Curacso Riverside, CA	3.0	2.5	1300	$3,090	$2.38	45d	1	0.93mi
3713 Calle Curacso Riverside, CA	3.0	2.0	1300	$3,090	$2.38	18d	1	0.93mi
11520 Magnolia Ave Riverside, CA	1.0–3.0	1.0–2.0	902	$3,434	$3.81	0d	7	0.95mi
13079 Winterpark Way Riverside, CA	3.0	3.0	1695	$3,350	$1.98	0d	1	1.04mi
11711 Collett Ave Riverside, CA	1.0–3.0	1.0–2.0	1018	$4,241	$4.16	0d	22	1.19mi
2544 Kennedy Dr Corona, CA	4.0	2.5	1911	$3,700	$1.94	45d	1	1.22mi
11330 Indiana Ave Unit 1 Riverside, CA	4.0	3.0	1300	$885	$0.68	25d	1	1.25mi
4408 Ambs Dr Riverside, CA	3.0	2.0	1470	$3,040	$2.07	45d	1	1.30mi
11282 Price Ct Riverside, CA	3.0	2.5	1646	$3,095	$1.88	45d	1	1.30mi
2365 Promenade Ave Corona, CA	1.0–2.0	1.0–2.0	892	$2,559	$2.87	0d	17	1.31mi
11266 Ramway Rd Riverside, CA	4.0	2.0	1595	$3,495	$2.19	19d	1	1.32mi
11207 Magnolia Ave Riverside, CA	2.0	2.0	1200	$2,250	$1.88	25d	1	1.35mi
11249 Heathrow Dr Riverside, CA	3.0	3.0	1421	$2,795	$1.97	0d	1	1.41mi

Listing history 20 events

1. 2026-06-21
   days on market $289,900 Active 81 DOM
2. 2026-06-18
   days on market $289,900 Active 78 DOM
3. 2026-06-17
   days on market $289,900 Active 77 DOM
4. 2026-06-16
   days on market $289,900 Active 76 DOM
5. 2026-06-15
   days on market $289,900 Active 75 DOM
6. 2026-06-13
   days on market $289,900 Active 73 DOM
7. 2026-06-13
   days on market $289,900 Active 72 DOM
8. 2026-06-09
   days on market $289,900 Active 69 DOM
9. 2026-06-08
   days on market $289,900 Active 68 DOM
10. 2026-06-07
    days on market $289,900 Active 67 DOM
11. 2026-06-04
    days on market $289,900 Active 64 DOM
12. 2026-06-03
    days on market $289,900 Active 63 DOM
13. 2026-06-02
    days on market $289,900 Active 62 DOM
14. 2026-06-01
    days on market $289,900 Active 61 DOM
15. 2026-05-31
    days on market $289,900 Active 60 DOM
16. 2026-04-01
    listed $289,900 Active 480-char remark

    Show marketing remark (480 chars)

    Brand new 2022 Skyline home. 3 bedrooms 2 bathrooms with 1512 living square footage. Home features granite countertop throughout home, including stainless steel refrigerator, stainless steel gas range, stainless steel dishwasher and stainless steel microwave with range hood. Full height mosaic backsplash, walk-in pantry and island with 2 overhang pendant lights, and stainless steel sink in kitchen. Ceiling fans in master bedroom and living room. Gated senior living community.

17. 2026-01-30
    historical
18. 2025-04-18
    listed $289,900 Active
19. 2025-01-24
    historical
20. 2024-04-29
    listed $289,900 Active

ⓘ 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 8/10 Severe
• 🌡 Heat 7/10 Severe 6 d/yr ≥102°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: $38,932
• − Mortgage interest: −$16,239
• − Property taxes: −$4,348
• − Insurance: −$1,450
• − Repairs & maintenance: −$3,115
• − Management: −$3,115
• − Depreciation: −$8,433
• Taxable income: $2,233
• Est. tax owed @ 24.0%: −$536
• After-tax cash flow: $6,179/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This 2022 Skyline manufactured home is in excellent condition with recent renovations, making it move-in ready for both resale and rental.

Value-add opportunities

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics
• Both Landscaping improvements — Enhances curb appeal and adds value
• Both Add smart home features — Improves convenience and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both Add smart home features — Improves convenience and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Alvord Unified
• NCES district ID: 0602430
• Math proficiency: 28% ▲ 1.00%
• Reading proficiency: 42% ▲ 2.00%
• Median HH income: $58,965
• Composite: 33.81/100
• National rank: #10383
• State rank: #852 of 1400 in CA

Livability — Riverside

• Score: 66/100
• State rank: #337
• US rank: #11613

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Riverside, CA
• County: Riverside County · 2,287,001 people
• City population: 367,890
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 88,395
• Household income: $96,268
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 2337.0

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 0.57)
• Race & ethnicity: Hispanic / Latino 61% White 24% Two or more races 15% Asian 8% Black 4%
• Hispanic origin (detail): Mexican 52%
• Common ancestry: Lithuanian 1% Italian 1% Slovak 1%
• Foreign-born: 27% · Canada, Vietnam, South Korea
• Languages at home: 44% English-only · Spanish 45% Other Indo-European 2% Tagalog/Filipino 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: ▼ -414.52%
• Current HPI: 393.407
• Rent YoY: ▲ 3.41%
• 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

+0.0% since first listed

5 events — show timeline

• 2026-04-01 Listed $289,900 CRMLS
• 2026-01-30 Listing Removed — CRMLS
• 2025-04-18 Listed $289,900 CRMLS
• 2025-01-24 Listing Removed — CRMLS
• 2024-04-29 Listed $289,900 CRMLS