4000 Pierce St #132 · Riverside, CA 92505

$150,000

3 bd · 2.0 ba · 1,536 sqft · Manufactured public records · 56 Days on market

Built 1974 $98/sqft · 6% above area Est $141k · 6% over ↓ 14% since listing

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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 +4.6/15.0
• Rent growth +3.6/5.0
• Schools +3.4/10.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautifully maintained mobile home in an award-winning 55+ community designed for active seniors who want lifestyle, convenience, and comfort all in one. Step inside to find a move-in ready 2-bedroom, 2-bath home with an enclosed California room, offering extra space to relax, entertain, or unwind. The generous living room flows seamlessly with updated flooring throughout, creating a clean and inviting feel the moment you walk in. The kitchen is both functional and charming, featuring plenty of storage and a built-in range. The primary bedroom offers privacy with its own enclosed bathroom, while the secondary bedroom is spacious and conveniently located near the second full bath in the hallway. Enjoy your morning coffee on the front porch, host weekend BBQs in the private backyard space perfect for grilling and gathering, and take advantage of the oversized driveway with plenty of room for a large truck. And the lifestyle? It’s everything. This vibrant community offers activities for every interest—shuffleboard, outdoor swimming, bingo nights, a library, crafts, cards, and indoor exercise options, within walking distance to a dog park also nearby Kaiser Permanent Hospital and Riverwalk area, perfectly located near shopping, dining, and easy access to the 91 freeway, this is truly location, location, location.  If you’ve been waiting for something affordable, low-maintenance, and move-in ready, this is it. Don’t miss your opportunity—schedule your private showing today.

Key facts

• 3 parking spots
• Community pool
• Built 1974

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $150k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Recommended offer: $146k (3.0% below list) — sets the bar for market timing.
• Cap rate 19.6% 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 fast (+4.5%/yr); 63 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).
• At $3,207/mo this rent would consume 45% of the median local household income ($85k/yr) (locally 1940% 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 $1k of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 4.5% rent growth), your $42k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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: major flood risk; major 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 $145,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 2.14% ✓
• Cap rate: 19.57%
• Cash-on-cash: 47.40%
• DSCR: 3.11
• GRM: 3.9

CMA / ARV

• ARV (median comp): $140,928
• List price: $150,000
• Delta: 6.44%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4000 Pierce #138	0.00mi	3/2.0	1,440 (-6%)	2mo	$191,000	$133	88
4000 Pierce St #220	0.00mi	3/2.0	1,440 (-6%)	7mo	$136,000	$94	84
4000 Pierce St #279	0.00mi	3/2.0	1,440 (-6%)	8mo	$100,000	$69	83
4000 Pierce #282	0.04mi	2/2.0 (-1)	1,440 (-6%)	2mo	$139,000	$97	81
4000 Pierce St #197	0.00mi	3/2.0	1,680 (+9%)	5mo	$149,000	$89	80
4000 Pierce #135	0.00mi	2/2.0 (-1)	1,344 (-12%)	0mo	$115,000	$86	74
3883 Buchanan St #88	0.42mi	2/2.0 (-1)	1,464 (-5%)	8mo	$153,000	$105	61
3883 Buchanan St #28	0.36mi	3/2.0	1,344 (-12%)	8mo	$192,000	$143	55
3663 Buchanan Ave #110	0.66mi	3/2.0	1,640 (+7%)	6mo	$160,000	$98	52
3663 Buchanan #112	0.63mi	3/2.0	1,344 (-12%)	1mo	$169,000	$126	49
3663 Buchanan St #90	0.63mi	3/2.0	1,344 (-12%)	7mo	$140,000	$104	44
3663 Buchanan St #154	0.69mi	3/2.0	1,365 (-11%)	8mo	$145,000	$106	42

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 · 4.47% rent growth · sell at horizon

5-year hold

• IRR: 46.3%
• Equity multiple: 3.05×
• Total profit: $86,119
• Equity at exit: $22,365

10-year hold

• IRR: 52.7%
• Equity multiple: 6.50×
• Total profit: $231,191
• Equity at exit: $12,969

Cash invested: $42,000 (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 92505

• Rents YoY: 4.5%
• Active inventory: 63
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $3,207 high
• Mortgage (P&I): −$787
• Tax from tax record: −$25 /mo · $304/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$673
• Net cashflow: $1,659

Break-even live

Break-even rent $1,107

Max offer price $150,000

Occupancy floor 43%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11711 Collett Ave Riverside, CA	1.0–3.0	1.0–2.0	1018	$4,383	$4.30	2d	21	0.36mi
4408 Ambs Dr Riverside, CA	3.0	2.0	1470	$3,040	$2.07	44d	1	0.47mi
3590 Buchanan St Riverside, CA	3.0	2.0	1913	$3,500	$1.83	44d	1	0.84mi
11377 Brookglen Ct Riverside, CA	3.0	2.5	1532	$3,400	$2.22	24d	1	0.89mi
4259 Redstar Ct Riverside, CA	3.0	2.0	1178	$3,000	$2.55	5d	1	0.91mi
4259 Redstar Ct Riverside, CA	3.0	2.0	1178	$3,000	$2.55	15d	1	0.91mi
4259 Redstar Ct Riverside, CA	3.0	2.0	1178	$3,000	$2.55	24d	1	0.91mi
4259 Redstar Ct Riverside, CA	3.0	2.0	1178	$3,000	$2.55	20d	1	0.91mi
11309 Rasmussen Ct Riverside, CA	3.0	2.5	1535	$3,225	$2.10	18d	1	0.93mi
11266 Ramway Rd Riverside, CA	4.0	2.0	1595	$3,495	$2.19	18d	1	0.94mi
371 Dylan Cir Corona, CA	3.0	2.0	1625	$3,500	$2.15	5d	1	0.98mi
11331 River Trail Ct Riverside, CA	3.0	2.5	1532	$3,200	$2.09	44d	1	0.99mi
4655 Sierra Vista Ave Riverside, CA	2.0–3.0	2.0	1043	$3,318	$3.18	2d	11	0.99mi
11207 Magnolia Ave Riverside, CA	2.0	2.0	1200	$2,250	$1.88	24d	1	1.00mi
4253 Azure Riverside, CA	4.0	2.5	1911	$3,300	$1.73	44d	1	1.11mi
4689 Brookmore Ct Riverside, CA	3.0	3.0	2124	$3,700	$1.74	44d	1	1.11mi
2544 Kennedy Dr Corona, CA	4.0	2.5	1911	$3,700	$1.94	44d	1	1.15mi
11282 Price Ct Riverside, CA	3.0	2.5	1646	$3,095	$1.88	44d	1	1.21mi
2365 Promenade Ave Corona, CA	1.0–2.0	1.0–2.0	892	$2,557	$2.87	2d	18	1.25mi
3850 Skofstad St Riverside, CA	1.0–2.0	1.0–2.0	880	$2,135	$2.43	24d	2	1.28mi
11330 Indiana Ave Unit 1 Riverside, CA	4.0	3.0	1300	$885	$0.68	24d	1	1.29mi
3713 Calle Curacso Riverside, CA	3.0	2.5	1300	$3,090	$2.38	44d	1	1.39mi
3713 Calle Curacso Riverside, CA	3.0	2.0	1300	$3,090	$2.38	17d	1	1.39mi
2235 Treehouse Ln Corona, CA	1.0–2.0	1.0–2.0	886	$2,770	$3.12	2d	17	1.42mi

Listing history 20 events

1. 2026-06-18
   days on market $150,000 Active 56 DOM
2. 2026-06-17
   days on market $150,000 Active 55 DOM
3. 2026-06-16
   days on market $150,000 Active 54 DOM
4. 2026-06-15
   days on market $150,000 Active 53 DOM
5. 2026-06-13
   days on market $150,000 Active 51 DOM
6. 2026-06-13
   statusdays on market $150,000 Active 50 DOM
7. 2026-06-08
   statusdays on market $150,000 Pending Sale 49 DOM
8. 2026-06-07
   days on market $150,000 Active 48 DOM
9. 2026-06-04
   days on market $150,000 Active 45 DOM
10. 2026-06-03
    days on market $150,000 Active 44 DOM
11. 2026-06-02
    days on market $150,000 Active 43 DOM
12. 2026-06-01
    days on market $150,000 Active 42 DOM
13. 2026-05-31
    days on market $150,000 Active 41 DOM
14. 2026-04-20
    listed $150,000 Active 1549-char remark

    Show marketing remark (1549 chars)

    Welcome to this beautifully maintained mobile home in an award-winning 55+ community designed for active seniors who want lifestyle, convenience, and comfort all in one. Step inside to find a move-in ready 2-bedroom, 2-bath home with an enclosed California room, offering extra space to relax, entertain, or unwind. The generous living room flows seamlessly with updated flooring throughout, creating a clean and inviting feel the moment you walk in. The kitchen is both functional and charming, featuring plenty of storage and a built-in range. The primary bedroom offers privacy with its own enclosed bathroom, while the secondary bedroom is spacious and conveniently located near the second full bath in the hallway. Enjoy your morning coffee on the front porch, host weekend BBQs in the private backyard space perfect for grilling and gathering, and take advantage of the oversized driveway with plenty of room for a large truck. And the lifestyle? It’s everything. This vibrant community offers activities for every interest—shuffleboard, outdoor swimming, bingo nights, a library, crafts, cards, and indoor exercise options, within walking distance to a dog park also nearby Kaiser Permanent Hospital and Riverwalk area, perfectly located near shopping, dining, and easy access to the 91 freeway, this is truly location, location, location.  If you’ve been waiting for something affordable, low-maintenance, and move-in ready, this is it. Don’t miss your opportunity—schedule your private showing today.

15. 2026-04-20
    historical $150,000 1549-char remark

    Show marketing remark (1549 chars)

    Welcome to this beautifully maintained mobile home in an award-winning 55+ community designed for active seniors who want lifestyle, convenience, and comfort all in one. Step inside to find a move-in ready 2-bedroom, 2-bath home with an enclosed California room, offering extra space to relax, entertain, or unwind. The generous living room flows seamlessly with updated flooring throughout, creating a clean and inviting feel the moment you walk in. The kitchen is both functional and charming, featuring plenty of storage and a built-in range. The primary bedroom offers privacy with its own enclosed bathroom, while the secondary bedroom is spacious and conveniently located near the second full bath in the hallway. Enjoy your morning coffee on the front porch, host weekend BBQs in the private backyard space perfect for grilling and gathering, and take advantage of the oversized driveway with plenty of room for a large truck. And the lifestyle? It’s everything. This vibrant community offers activities for every interest—shuffleboard, outdoor swimming, bingo nights, a library, crafts, cards, and indoor exercise options, within walking distance to a dog park also nearby Kaiser Permanent Hospital and Riverwalk area, perfectly located near shopping, dining, and easy access to the 91 freeway, this is truly location, location, location.  If you’ve been waiting for something affordable, low-maintenance, and move-in ready, this is it. Don’t miss your opportunity—schedule your private showing today.

16. 2025-12-08
    historical
17. 2025-11-05
    price $150,000
18. 2025-10-03
    price $155,000
19. 2025-08-27
    price $165,000
20. 2025-07-25
    listed $175,000 Active

ⓘ 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: $304 · $25/mo
• Projected year-2 tax: $1,140 · $95/mo
• Expected delta: +$836/yr (+$70/mo · 275.1%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 92% chance over 30 yrs
• 🔥 Wildfire 7/10 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: $38,483
• − Mortgage interest: −$8,402
• − Property taxes: −$304
• − Insurance: −$750
• − Repairs & maintenance: −$3,079
• − Management: −$3,079
• − Depreciation: −$4,364
• Taxable income: $18,506
• Est. tax owed @ 24.0%: −$4,441
• After-tax cash flow: $15,467/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: 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): 53,419
• Household income: $84,906
• Rent vs Own: 48.5% rent · 51.5% own
• Severe rent burden: 1940.0

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 0.58)
• Race & ethnicity: Hispanic / Latino 60% White 20% Two or more races 17% Asian 10% Black 6% Native American 1%
• Hispanic origin (detail): Mexican 53%
• Common ancestry: Scandinavian 1% Lithuanian 1% Romanian 1%
• Foreign-born: 29% · Canada, Vietnam, South Korea
• Languages at home: 40% English-only · Spanish 47% Other Indo-European 4% Vietnamese 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: ▼ -379.14%
• Current HPI: 405.3408
• Rent YoY: ▲ 4.47%
• 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

-14.3% since first listed

7 events — show timeline

• 2026-04-20 Listed $150,000 CRMLS
• 2026-04-20 Coming Soon $150,000 CRMLS
• 2025-12-08 Listing Removed — CRMLS
• 2025-11-05 Price Changed $150,000 CRMLS
• 2025-10-03 Price Changed $155,000 CRMLS
• 2025-08-27 Price Changed $165,000 CRMLS
• 2025-07-25 Listed $175,000 CRMLS

Property tax history

+2.4%/yr

Latest (2025): $304 · +3.3% YoY. Source: county tax records.