32900 Riverside Dr #63 · Lake Elsinore, CA 92530

$171,000

2 bd · 2.0 ba · 960 sqft · Manufactured public records · 109 Days on market

Built 2001 $178/sqft · 74% above area

---

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 +26.4/30.0
• DSCR +9.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• Schools +3.7/10.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to your fresh start and your front-row seat to the lake life you’ve been dreaming about—this beautifully upgraded 3 bedroom, 2 bath manufactured home in an all-age community near Lake Elsinore is the perfect launchpad for first-time buyers or anyone ready to trade ordinary for extraordinary. From the moment you step inside, you’ll feel the love in the details: newer flooring underfoot, fresh interior paint throughout, and a bright, open layout that feels both modern and welcoming. The kitchen shines with granite countertops, stainless steel appliances, and plenty of space to cook, gather, and make memories, while indoor laundry adds everyday convenience right where you need it. The centrally located hall bath has been tastefully renovated, and the upgraded primary suite offers a refreshed private retreat designed for rest and recharge. A new AC fan installed just two years ago keeps things running comfortably, giving you peace of mind as you settle in. Step outside and the magic continues—your backyard is a tropical escape with mature fruit trees and lush foliage, perfect for morning coffee, weekend barbecues, or simply unwinding after a day on the water. The community amenities elevate the lifestyle even more, featuring a sparkling pool, relaxing hot tub, gym, and billiard room, plus RV and recreational parking available—be sure to contact park management for full details. The affordable land lease keeps monthly costs approachable, making homeownership feel not just possible, but practical. The park welcomes up to two dogs with a size limit, so reach out to the park office for specifics. This home offers carport parking only, so buyers should confirm it meets their needs. Best of all, you’re within walking distance to the lake, where boating, water skiing, jet skiing, Sea-Doo rides, beach days, frisbee games, and sunset strolls become part of your everyday rhythm. If you’ve been waiting for a sign to start living life by the lake, this is it.

Key facts

• New ac fan
• Indoor laundry
• Granite countertops

Tags

• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• INDOOR LAUNDRY
• RENOVATED HALL BATH
• UPGRADED PRIMARY SUITE
• NEW AC FAN

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $171k.

Deal economics

• At list price, monthly cash flow is $449 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $171k).
• Recommended offer: $156k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 3.3% in Lake Elsinore — 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 62/100 on livability (#510 in CA) — a middle-class / working-renter tenant base. Strengths: housing A+, crime B, employment B; Watch: schools D, amenities D, commute F.
• Lake Elsinore Unified (suburban): math 34% / reading 49% proficiency, ranked #210 of 517 in CA (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-0.8%/yr); 453 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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).

Forward outlook

• 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.
• 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 109 days — a 9% lower offer ($156k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y ago; this cycle's ask has dropped $28k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $155,610 (9.0% below list)

Questions for the listing agent

1. It's been on market 109 days. Have you received any prior offers? Is the seller open to a 9% 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.21% ✓
• Cap rate: 9.45%
• Cash-on-cash: 11.26%
• DSCR: 1.50
• GRM: 6.9

CMA / ARV

• ARV (median comp): $98,521
• List price: $171,000
• Delta: 73.57%
• Verdict: OVERPRICED
• Comps: 3 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
32900 Riverside Dr #62	0.00mi	3/2.0 (+1)	1,040 (+8%)	17mo	$140,000	$135	67

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -2.9%
• Equity multiple: 0.89×
• Total profit: $-5,114
• Equity at exit: $25,497

10-year hold

• IRR: 3.1%
• Equity multiple: 1.19×
• Total profit: $9,136
• Equity at exit: $14,785

Cash invested: $47,880 (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 92530

• Home prices YoY: -34.3%
• Rents YoY: -0.8%
• Active inventory: 453
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,065 high
• Mortgage (P&I): −$897
• Tax est. 1.5%: −$214 /mo · $2,565/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$434
• Net cashflow: $449

Break-even live

Break-even rent $1,496

Max offer price $171,000

Occupancy floor 73%

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: $42,750
• Closing costs: $5,130
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15190 Grand Ave Lake Elsinore, CA	1.0–3.0	1.0–2.0	840	$1,868	$2.22	1d	6	0.26mi
15120 Grand Ave Lake Elsinore, CA	1.0–3.0	1.0–2.0	870	$2,285	$2.63	1d	7	0.30mi
33111 Jamieson St Lake Elsinore, CA	2.0	1.0	1000	$1,425	$1.43	16d	1	0.35mi
1121 Monroe St Unit NA Lake Elsinore, CA	3.0	2.0	1100	$2,575	$2.34	14d	1	0.55mi
15721 Lakeridge Rd Unit ADU Lake Elsinore, CA	1.0	1.0	700	$1,900	$2.71	43d	1	0.70mi
15195 Lincoln St Lake Elsinore, CA	1.0–3.0	1.0–2.0	832	$2,175	$2.61	1d	1	0.80mi
16465 Joy St Unit 20 Lake Elsinore, CA	2.0	2.0	950	$1,850	$1.95	18d	1	1.17mi
16460 Joy St Lake Elsinore, CA	1.0	1.0	700	$1,710	$2.44	1d	1	1.22mi
590 Parkview Dr Lake Elsinore, CA	1.0	1.0	944	$1,900	$2.01	24d	1	1.29mi
16242 Grand Ave Unit B Lake Elsinore, CA	3.0	1.0	756	$2,150	$2.84	18d	1	1.31mi
685 Woodcrest Dr Unit A Lake Elsinore, CA	2.0	2.5	1000	$2,200	$2.20	43d	1	1.44mi

Listing history 20 events

1. 2026-06-18
   days on market $171,000 Active 109 DOM
2. 2026-06-17
   days on market $171,000 Active 108 DOM
3. 2026-06-16
   days on market $171,000 Active 107 DOM
4. 2026-06-15
   days on market $171,000 Active 106 DOM
5. 2026-06-13
   days on market $171,000 Active 104 DOM
6. 2026-06-13
   days on market $171,000 Active 103 DOM
7. 2026-06-09
   days on market $171,000 Active 100 DOM
8. 2026-06-08
   days on market $171,000 Active 99 DOM
9. 2026-06-07
   days on market $171,000 Active 98 DOM
10. 2026-06-04
    days on market $171,000 Active 95 DOM
11. 2026-06-03
    days on market $171,000 Active 94 DOM
12. 2026-06-02
    days on market $171,000 Active 93 DOM
13. 2026-06-01
    days on market $171,000 Active 92 DOM
14. 2026-05-31
    days on market $171,000 Active 91 DOM
15. 2026-03-12
    price $171,000 2027-char remark

    Show marketing remark (2027 chars)

    Welcome to your fresh start and your front-row seat to the lake life you’ve been dreaming about—this beautifully upgraded 3 bedroom, 2 bath manufactured home in an all-age community near Lake Elsinore is the perfect launchpad for first-time buyers or anyone ready to trade ordinary for extraordinary. From the moment you step inside, you’ll feel the love in the details: newer flooring underfoot, fresh interior paint throughout, and a bright, open layout that feels both modern and welcoming. The kitchen shines with granite countertops, stainless steel appliances, and plenty of space to cook, gather, and make memories, while indoor laundry adds everyday convenience right where you need it. The centrally located hall bath has been tastefully renovated, and the upgraded primary suite offers a refreshed private retreat designed for rest and recharge. A new AC fan installed just two years ago keeps things running comfortably, giving you peace of mind as you settle in. Step outside and the magic continues—your backyard is a tropical escape with mature fruit trees and lush foliage, perfect for morning coffee, weekend barbecues, or simply unwinding after a day on the water. The community amenities elevate the lifestyle even more, featuring a sparkling pool, relaxing hot tub, gym, and billiard room, plus RV and recreational parking available—be sure to contact park management for full details. The affordable land lease keeps monthly costs approachable, making homeownership feel not just possible, but practical. The park welcomes up to two dogs with a size limit, so reach out to the park office for specifics. This home offers carport parking only, so buyers should confirm it meets their needs. Best of all, you’re within walking distance to the lake, where boating, water skiing, jet skiing, Sea-Doo rides, beach days, frisbee games, and sunset strolls become part of your everyday rhythm. If you’ve been waiting for a sign to start living life by the lake, this is it.

16. 2026-03-01
    listed $199,000 Active 2027-char remark

    Show marketing remark (2027 chars)

    Welcome to your fresh start and your front-row seat to the lake life you’ve been dreaming about—this beautifully upgraded 3 bedroom, 2 bath manufactured home in an all-age community near Lake Elsinore is the perfect launchpad for first-time buyers or anyone ready to trade ordinary for extraordinary. From the moment you step inside, you’ll feel the love in the details: newer flooring underfoot, fresh interior paint throughout, and a bright, open layout that feels both modern and welcoming. The kitchen shines with granite countertops, stainless steel appliances, and plenty of space to cook, gather, and make memories, while indoor laundry adds everyday convenience right where you need it. The centrally located hall bath has been tastefully renovated, and the upgraded primary suite offers a refreshed private retreat designed for rest and recharge. A new AC fan installed just two years ago keeps things running comfortably, giving you peace of mind as you settle in. Step outside and the magic continues—your backyard is a tropical escape with mature fruit trees and lush foliage, perfect for morning coffee, weekend barbecues, or simply unwinding after a day on the water. The community amenities elevate the lifestyle even more, featuring a sparkling pool, relaxing hot tub, gym, and billiard room, plus RV and recreational parking available—be sure to contact park management for full details. The affordable land lease keeps monthly costs approachable, making homeownership feel not just possible, but practical. The park welcomes up to two dogs with a size limit, so reach out to the park office for specifics. This home offers carport parking only, so buyers should confirm it meets their needs. Best of all, you’re within walking distance to the lake, where boating, water skiing, jet skiing, Sea-Doo rides, beach days, frisbee games, and sunset strolls become part of your everyday rhythm. If you’ve been waiting for a sign to start living life by the lake, this is it.

17. 2010-03-04
    historical
18. 2009-09-04
    listed $75,000 Active
19. 2007-11-01
    historical
20. 2007-10-06
    listed $95,000

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 9 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,775
• − Mortgage interest: −$9,579
• − Property taxes: −$2,565
• − Insurance: −$855
• − Repairs & maintenance: −$1,982
• − Management: −$1,982
• − Depreciation: −$4,975
• Taxable income: $2,838
• Est. tax owed @ 24.0%: −$681
• After-tax cash flow: $4,710/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: Lake Elsinore Unified
• NCES district ID: 0600027
• Math proficiency: 34% ▲ 5.00%
• Reading proficiency: 49% ▲ 8.00%
• Median HH income: $63,829
• Composite: 37.01/100
• National rank: #4518
• State rank: #210 of 517 in CA

Livability — Lake Elsinore

• Score: 62/100
• State rank: #510
• US rank: #17250

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Elsinore, CA
• County: Riverside County · 2,287,001 people
• City population: 89,823
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 61,768
• Household income: $86,862
• Rent vs Own: 32.1% rent · 67.9% own
• Severe rent burden: 1690.0

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 0.55)
• Race & ethnicity: Hispanic / Latino 61% White 28% Two or more races 21% Black 4% Asian 4% Native American 2%
• Hispanic origin (detail): Mexican 50% Puerto Rican 1%
• Common ancestry: Iranian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 22% · Canada, China, Jamaica
• Languages at home: 55% English-only · Spanish 41% Tagalog/Filipino 1% Chinese 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: ▼ -205.66%
• Current HPI: 394.1705
• Rent YoY: ▼ -0.76%
• 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

+80.0% since first listed

6 events — show timeline

• 2026-03-12 Price Changed $171,000 CRMLS
• 2026-03-01 Listed $199,000 CRMLS
• 2010-03-04 Listing Removed — CRMLS
• 2009-09-04 Listed $75,000 CRMLS
• 2007-11-01 Listing Removed — CRMLS
• 2007-10-06 Listed $95,000 CRMLS

Property tax history

-5.3%/yr

Latest (2025): $264 · +4.8% YoY. Source: county tax records.