1155 S Riverside St #136

Rialto, CA 92376

$180,000B-

2 bd · 2.0 ba · 1,344 sqft · Built 1973 · Manufactured · Active · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,531/mo
• Mortgage (P&I): −$944
• Tax + insurance: −$300
• HOA: −$0
• Vac / Maint / Mgmt: −$531
• Net cashflow: $755/mo
• Annual: $9,065/yr
• Cap rate: 11.33%
• Cash-on-cash: 17.99%
• DSCR: 1.80
• 1% rule: 1.41%
• Cash to close: $50,400

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $180k.
• At list price, monthly cash flow is $755 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $180k).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.
• Location reads 60/100 on livability (#598 in CA) — a middle-class / working-renter tenant base. Strengths: housing A+, commute A-; Watch: schools F, crime F, amenities D-.
• Rialto Unified (suburban): math 25% / reading 46% proficiency, ranked #268 of 517 in CA (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+1.6%/yr); 142 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 83% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 5,458 units permitted in San Bernardino County in 2024 (1,500 in 5+ unit buildings).
• San Bernardino County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $50k cash investment doubles in ~8 years — after that, you're playing with house money.
• Climate carrying-cost: major flood risk; extreme-heat days projected 6→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 11.3% vs local median 3.5% in Rialto — 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.
• This rent runs 38% of the median local income ($80k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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?
• 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.
• 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.