9391 California Ave #81 · Riverside, CA 92503

$45,000

2 bd · 2.0 ba · 1,224 sqft · Manufactured public records · 35 Days on market

Built 1973 Est $77k · 42% under ↓ 10% since listing

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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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.1/10.0
• Rent growth +3.4/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

The home is in a 55+ senior community with a spacious floor plan. The living room opens to the kitchen. The dining area has built ins and chandelier. A built-in wet bar with a stained glass window ceiling is also a great addition! There is a walk-in closet in the master bedroom and also one additional room and bathroom. Lastly, outside there is carport covered parking and also a shed. Amenities include a clubhouse with a pool, spa, kitchen, pool tables, reading room and activities. Shopping center and grocery store are nearby.

Key facts

• Community pool
• Built 1973
• Listed 35 days

Property features AI

Finance

• Other: Lot size category: 0-1 unit/acre; Elevation units shown in feet
• Financial info: Land lease applicable
• HOA & community: Senior community; Manager approval required

Exterior

• Parking: Located in Riverside Country Club Mobile Home Park
• Utilities: Public sewer; District/public water
• Home design: Single-story home; Entry at main level; Manufactured/mobile home (approx. 12' x 51')
• Construction: Year built per public records; Mobile/manufactured construction
• Exterior features: Community pool; Sidewalks

Interior

• Kitchen: No appliances included
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central cooling
• Interior features: Bar
• Laundry & utility: Washer included; Dryer included; Laundry area present

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $45k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $45k).
• Recommended offer: $44k (3.0% below list) — sets the bar for market timing.
• Cap rate 49.0% 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: health & safety D, crime F, cost of living F.
• Riverside Unified (urban): math 36% / reading 51% proficiency, ranked #574 of 1,400 in CA (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Jackson Elementary (math 24% / reading 24%, grade F, #973 of 1,571 statewide, top 73%, 667 students, 89% FRL); Chemawa Middle (798 students, 90% FRL); Arlington High (1,957 students, 81% FRL) — zoned schools average 87% FRL vs 53% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 24% at this address vs 44% district-wide (-19 pts) — the specific schools serving this property underperform the Riverside Unified average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+3.4%/yr); 197 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $311 of loan paydown is wiped out by about $1k 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 + 3.4% rent growth), your $13k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 22y 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.
• Current owner paid $35k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 6→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $43,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 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 1973 — 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: 5.24% ✓
• Cap rate: 48.99%
• Cash-on-cash: 152.48%
• DSCR: 7.78
• GRM: 1.6

CMA / ARV

• ARV (on-the-fly): $77,112
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9391 California Ave #13	0.03mi	2/2.0	1,248 (+2%)	2mo	$50,000	$40	94
9391 California Ave #118	0.00mi	2/2.0	1,248 (+2%)	8mo	$114,900	$92	90
9391 California Ave #66	0.00mi	2/2.0	1,248 (+2%)	11mo	$60,000	$48	88
9391 California Ave #97	0.00mi	3/2.0 (+1)	1,344 (+10%)	3mo	$85,000	$63	76
9391 California Ave #22	0.00mi	2/2.0	1,344 (+10%)	11mo	$115,000	$86	75
9391 California #77	0.00mi	2/2.0	1,296 (+6%)	23mo	$110,000	$85	71
9391 California Ave #76	0.00mi	2/2.0	1,344 (+10%)	21mo	$83,000	$62	66

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: —
• Equity multiple: 8.59×
• Total profit: $95,662
• Equity at exit: $6,710

10-year hold

• IRR: —
• Equity multiple: 18.35×
• Total profit: $218,671
• Equity at exit: $3,891

Cash invested: $12,600 (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 92503

• Rents YoY: 3.4%
• Active inventory: 197
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $2,359 high
• Mortgage (P&I): −$236
• Tax from tax record: −$8 /mo · $92/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$495
• Net cashflow: $1,601

Break-even live

Break-even rent $332

Max offer price $45,000

Occupancy floor 27%

Sensitivity live

Price	-10% $1,627	-5% $1,614	+0% $1,601	+5% $1,537	+10% $1,521
Rent	-10% $1,415	-5% $1,508	+0% $1,601	+5% $1,694	+10% $1,787
Rate	-1.0pp $1,624	-0.5pp $1,612	base $1,601	+0.5pp $1,589	+1.0pp $1,578

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4119 Van Buren Blvd Unit 25 Riverside, CA	2.0	1.0	905	$2,025	$2.24	23d	1	0.23mi
4119 Van Buren Blvd Riverside, CA	2.0	1.0	905	$2,025	$2.24	26d	2	0.23mi
4115 Van Buren Blvd Apt 2 Riverside, CA	2.0	1.0	905	$2,025	$2.24	45d	1	0.24mi
4115 Van Buren Blvd Apt 2 Riverside, CA	2.0	1.0	905	$1,995	$2.20	22d	1	0.24mi
4620 Van Buren Blvd Riverside, CA	1.0–2.0	1.0–2.0	665	$2,495	$3.75	1d	12	0.33mi
9400 Garfield St Riverside, CA	2.0	2.0	940	$2,150	$2.29	25d	1	0.40mi
3928 Everest Ave Riverside, CA	2.0	1.0	1324	$2,000	$1.51	26d	1	0.49mi
4273 Wheeler St Riverside, CA	3.0	2.0	1000	$2,595	$2.60	4d	1	0.52mi
3904 Stotts St Riverside, CA	2.0	2.0	1100	$2,575	$2.34	46d	1	0.54mi
4185 Selma Ave Riverside, CA	2.0	1.0	1000	$2,750	$2.75	45d	1	0.56mi
3918 Jackson St Riverside, CA	2.0	1.0	900	$2,000	$2.22	26d	1	0.63mi
9145 Audrey St Unit 1 Riverside, CA	2.0	1.0	850	$2,400	$2.82	45d	1	0.65mi
4743 Jackson St #64 Riverside, CA	2.0	1.5	861	$2,095	$2.43	26d	1	0.72mi
3750 Taft St Riverside, CA	3.0	2.0	1288	$2,950	$2.29	0d	1	0.78mi
3750 Myers St Riverside, CA	1.0–2.0	1.0	803	$2,100	$2.61	45d	1	0.83mi
3688 Taft St Riverside, CA	3.0	2.0	1268	$3,150	$2.48	0d	1	0.85mi
4853 Jackson St Unit C Riverside, CA	2.0	1.0	968	$1,900	$1.96	45d	1	0.86mi
4853 Jackson St Riverside, CA	2.0	1.0	968	$2,100	$2.17	45d	1	0.86mi
3905 Dawes St Riverside, CA	2.0	2.0	1193	$2,555	$2.14	1d	4	0.87mi
4859 Jackson St Riverside, CA	3.0	1.5	1226	$2,495	$2.04	16d	1	0.87mi
4859 Jackson St Unit B Riverside, CA	3.0	1.5	1226	$2,495	$2.04	23d	1	0.87mi
9090 Colony Pl Unit B Riverside, CA	2.0	1.0	888	$2,100	$2.36	45d	1	0.91mi
3626 Jackson St Unit 3636-L Riverside, CA	2.0	1.0	950	$2,250	$2.37	6d	1	0.97mi
7721 Janet Ave Unit C Riverside, CA	2.0	1.0	900	$1,799	$2.00	26d	1	0.97mi
7721 Janet Ave Unit A Riverside, CA	3.0	2.0	900	$2,449	$2.72	26d	1	0.97mi
4486 Santee Pl Riverside, CA	3.0	2.0	1400	$3,000	$2.14	21d	1	0.98mi
5910 Warren St Unit A7 Riverside, CA	2.0	1.0	750	$1,950	$2.60	26d	1	1.03mi
5910 Warren St Unit B8 Riverside, CA	2.0	1.0	720	$1,950	$2.71	0d	1	1.03mi
5910 Warren St Riverside, CA	2.0	1.0	750	$1,950	$2.60	18d	1	1.03mi
9535 Hannah Way Unit 30 Riverside, CA	3.0	3.0	1465	$3,295	$2.25	18d	1	1.03mi
9535 Hannah Way Riverside, CA	3.0	3.0	1465	$3,195	$2.18	1d	1	1.03mi
10150 Cook Ave Riverside, CA	3.0	2.0	1469	$3,045	$2.07	7d	1	1.05mi
8641 Garfield St Riverside, CA	3.0	2.0	1122	$2,995	$2.67	26d	1	1.05mi
8641 Garfield St Riverside, CA	3.0	2.0	1122	$2,995	$2.67	23d	1	1.05mi
8715 Magnolia Ave Riverside, CA	1.0–2.0	1.0–2.5	1150	$2,200	$1.91	45d	4	1.07mi
6195 Pegasus Dr Riverside, CA	2.0	1.0	810	$2,173	$2.68	1d	5	1.07mi
3644 Harrison St Riverside, CA	2.0	1.0–2.0	805	$2,845	$3.53	45d	38	1.07mi
3644 Harrison St Unit 104 Riverside, CA	1.0	1.0	773	$2,445	$3.16	26d	1	1.07mi
9513 Hannah Way Riverside, CA	3.0	3.0	1464	$3,195	$2.18	1d	1	1.08mi
9525 Hannah Way Riverside, CA	3.0	3.0	1464	$3,300	$2.25	11d	1	1.08mi

Listing history 2 events

1. 2026-06-17
   remarks 292-char remark
2. 2026-06-17
   listed $45,000 Active 35 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: $92 · $8/mo
• Projected year-2 tax: $342 · $28/mo
• Expected delta: +$250/yr (+$21/mo · 273.2%)

ⓘ 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 1/10 Low
• 🌡 Heat 7/10 Severe 6 d/yr ≥103°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: $28,305
• − Mortgage interest: −$2,521
• − Property taxes: −$92
• − Insurance: −$225
• − Repairs & maintenance: −$2,264
• − Management: −$2,264
• − Depreciation: −$1,309
• Taxable income: $19,630
• Est. tax owed @ 24.0%: −$4,711
• After-tax cash flow: $14,501/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: Riverside Unified
• NCES district ID: 0633150
• Math proficiency: 36% ▲ 1.00%
• Reading proficiency: 51% ▲ 2.00%
• Median HH income: $62,038
• Composite: 40.8/100
• National rank: #7563
• State rank: #574 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

-10.0% since first listed

8 events — show timeline

• 2026-06-17 Relisted — CRMLS
• 2026-05-17 Relisted — CRMLS
• 2026-03-14 Listed $45,000 CRMLS
• 2018-12-21 Sold (MLS) $35,000 CRMLS
• 2018-11-21 Pending — CRMLS
• 2018-11-02 Listed $37,500 CRMLS
• 2004-07-14 Sold (MLS) $45,000 CRMLS
• 2004-02-10 Listed $50,000 CRMLS

Property tax history

-8.2%/yr

Latest (2025): $92 · +5.2% YoY. Source: county tax records.