32118 Ranch · Homeland, CA 92548

$220,000

2 bd · 2.0 ba · 1,440 sqft · Manufactured public records · 3 Days on market

Built 1973 10,019 sqft lot Est $225k · at est.

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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 +21.0/30.0
• Appreciation +10.0/10.0
• ARV discount +8.4/15.0
• DSCR +6.7/10.0
• 1% rule +5.5/10.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Livability +2.2/5.0

Listing remarks MLS

Nice manufactured home on a permanent foundation. This home features 3 bedrooms 2 baths and family room. Upgraded kitchen with nice cabinets and granite countertops. Updated bathrooms and dual pane windows throughout. Crown Molding, new carpet, and new AC unit. Property is on a large 10,019 Sq Ft. lot. with RV Parking and electrical hookups. This property is a must see. , Owner is very motivated to sell.

Key facts

• Adu potential
• Dutch barn
• Rental ready

Tags

• MANUFACTURED HOME
• DUTCH BARN
• VERSATILE LOT
• ADU POTENTIAL
• RENTAL READY
• TWO STORY BARN

Property features AI

Finance

• Financial info: Assessments: unknown

Exterior

• Parking: 2 garage spaces; 2 total parking spaces
• Utilities: Public/District water; Septic system (type unknown)
• Home design: Single-story; Entry on main level
• Construction: Year built: see remarks; No ADU
• Exterior features: Manufactured house; No pool; Lot appears to be 0–1 unit/acre; Mountainous community setting

Interior

• Bedrooms: Three bedrooms on the main level
• Bathrooms: Two full bathrooms
• Heating & cooling: Central furnace heating; Cooling available (see remarks)
• Interior features: One-level home; Main level entry; No common walls; Living area per assessor's data
• Laundry & utility: Laundry available (see remarks)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $220k.

Deal economics

• At list price, monthly cash flow is $309 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $220k).
• Cap rate 8.0% vs local median 5.9% in Homeland — 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 45/100 on livability (#1,297 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: cost of living C-, health & safety C-, employment D.
• Romoland Elementary (suburban): math 35% / reading 44% proficiency, ranked #699 of 1,400 in CA (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 53 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).

Forward outlook

• In year one you build about $24k of equity ($2k loan paydown + $22k appreciation (10.0% local appreciation)).
• Riverside County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $62k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 20y 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 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $220,000

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.05% ✓
• Cap rate: 7.98%
• Cash-on-cash: 6.02%
• DSCR: 1.27
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $224,640
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
25490 Granite Valley Trl	0.27mi	3/2.0 (+1)	1,344 (-7%)	10mo	$465,000	$346	63
25952 Homeland Ave	0.72mi	2/2.0	1,440 (0%)	9mo	$225,000	$156	58
26157 Olson Ave	0.49mi	2/2.0	1,344 (-7%)	10mo	$400,000	$298	58
25778 Creag Ave	0.37mi	3/2.0 (+1)	1,248 (-13%)	2mo	$415,000	$333	54
26189 Olson Ave	0.51mi	2/2.0	1,248 (-13%)	10mo	$275,000	$220	46
32600 State Highway 74 #42	0.65mi	2/2.0	1,400 (-3%)	24mo	$48,000	$34	46
32600 Highway 74 #93	0.65mi	3/2.0 (+1)	1,333 (-7%)	9mo	$118,500	$89	45
32600 State Highway 74 #35	0.67mi	2/2.0	1,246 (-14%)	4mo	$62,000	$50	43
32600 State Highway 74 #122	0.67mi	3/2.0 (+1)	1,344 (-7%)	14mo	$149,900	$112	41
31510 Wakefield Ave	0.68mi	2/2.0	1,640 (+14%)	21mo	$250,000	$152	28

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.7%
• Equity multiple: 3.27×
• Total profit: $139,536
• Equity at exit: $198,193

10-year hold

• IRR: 24.9%
• Equity multiple: 7.42×
• Total profit: $395,478
• Equity at exit: $427,412

Cash invested: $61,600 (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 92548

• Home prices YoY: 16.7%
• Active inventory: 53
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,300 medium
• Mortgage (P&I): −$1,154
• Tax from tax record: −$262 /mo · $3,150/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$483
• Net cashflow: $309

Break-even live

Break-even rent $1,909

Max offer price $220,000

Occupancy floor 82%

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
33099 Old State Hwy Hemet, CA	3.0	2.0	1440	$2,300	$1.60	1d	1	1.13mi

Listing history 4 events

1. 2026-06-18
   days on market $220,000 Active 3 DOM
2. 2026-06-17
   days on market $220,000 Active 2 DOM
3. 2026-06-15
   remarks 699-char remark
4. 2026-06-15
   listed $220,000 Active 1 DOM

ⓘ 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: $3,150 · $262/mo
• Projected year-2 tax: $3,150 · $262/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 8/10 Severe
• 🌡 Heat 7/10 Severe 7 d/yr ≥103°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 10 unhealthy d/yr today · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,600
• − Mortgage interest: −$12,323
• − Property taxes: −$3,150
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,208
• − Management: −$2,208
• − Depreciation: −$6,400
• Taxable income: $211
• Est. tax owed @ 24.0%: −$51
• After-tax cash flow: $3,659/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: Romoland Elementary
• NCES district ID: 0633390
• Math proficiency: 35% ▲ 2.00%
• Reading proficiency: 44% ▲ 1.00%
• Median HH income: $58,935
• Composite: 37.36/100
• National rank: #8931
• State rank: #699 of 1400 in CA

Livability — Homeland

• Score: 45/100
• State rank: #1297
• US rank: #26584

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Homeland, CA
• Population (ZIP): 6,435

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: Predominantly Hispanic (65%)
• Race & ethnicity: Hispanic / Latino 65% White 30% Two or more races 9% Native American 3% Asian 3%
• Hispanic origin (detail): Mexican 59% Puerto Rican 2%
• Common ancestry: Italian 2% Lithuanian 1% Serbian 1%
• Foreign-born: 20% · Canada, South Korea
• Languages at home: 54% English-only · Spanish 44% Korean 1% Vietnamese 1%

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: ▲ 62.36%
• Current HPI: 435.0222
• Rent YoY: —
• Metro: —
• 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

+780.0% since first listed

17 events — show timeline

• 2026-06-15 Listed $220,000 CRMLS
• 2019-07-23 Sold (Public Records) $205,000 Public Records
• 2019-07-23 Sold (MLS) $205,000 CRMLS
• 2019-07-10 Pending — CRMLS
• 2019-06-27 Listed $205,000 CRMLS
• 2016-10-01 Listing Removed — CRMLS
• 2016-09-19 Relisted — CRMLS
• 2016-06-06 Pending — CRMLS
• 2016-05-19 Listed $200,000 CRMLS
• 2007-10-04 Listing Removed — CRMLS
• 2007-09-06 Listed $199,900 CRMLS
• 2007-08-28 Listing Removed — CRMLS
• 2007-07-08 Listed $199,900 CRMLS
• 2006-09-12 Listing Removed — CRMLS
• 2006-08-01 Listed $175,000 CRMLS
• 2005-03-31 Sold (Public Records) $132,000 Public Records
• 1988-05-16 Sold (Public Records) $25,000 Public Records

Property tax history

+5.4%/yr

Latest (2025): $3,150 · +2.7% YoY. Source: county tax records.