13381 Magnolia Ave #4 · Home Gardens, CA 92879

$200,000

2 bd · 2.0 ba · 1,930 sqft · Manufactured public records · 24 Days on market

Built 1981 Est $160k · 25% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.1/10.0
• Rent growth +3.2/5.0
• Livability +2.8/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 13381 Magnolia Ave #4 located in the desirable Corona Palms Mobile Home Park, a peaceful 55+ community in the heart of Corona! This spacious and beautifully maintained 2 bedroom, 2 bathroom home offers approximately 1,896 square feet of comfortable living space and is truly move-in ready. Built in 1981, this home has been exceptionally cared for and showcases timeless character throughout, including original hardwood flooring, stunning built-in cabinetry, and a built-in bar perfect for entertaining guests or relaxing at home. The oversized carport provides room for up to 5 vehicles, a rare feature in the community, and also includes a convenient Tuff Shed for additional storage.

Key facts

• Built-in cabinetry
• Oversized carport
• Tuff shed

Tags

• ORIGINAL HARDWOOD FLOORING
• BUILT-IN CABINETRY
• BUILT-IN BAR
• OVERSIZED CARPORT
• TUFF SHED
• AVOCADO TREE

Property features AI

Finance

• Other: Manager approval required; Pets allowed
• Financial info: Land lease of $947 per month (park source)
• HOA & community: Senior community; Community gardener and pool maintenance included in rent

Exterior

• Parking: 5 parking spaces; 5 carport spaces; Located in Corona Palms Mobile Home Park
• Utilities: Public sewer; District/public water
• Home design: Single-story mobile home (Model 605E); Mobile home remains on site; Mobile dimensions approximately 34' x 164'; Living area per assessor's data; Built year per public records
• Construction: Total of 1 story
• Exterior features: Community pool; Park within the community; One shed on the property; Lot: 0–1 unit per acre

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Central furnace heating
• Interior features: One-level home; Entry on Magnolia
• Laundry & utility: Washer included; Dryer included; Has laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $200k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $197k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 55/100 on livability (#833 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A, employment A-; Watch: schools F, crime F, amenities F.
• Corona-Norco Unified (suburban): math 46% / reading 61% proficiency, ranked #312 of 1,400 in CA (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+2.8%/yr); 90 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).
• This rent runs 40% of the median local income ($92k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 + 2.8% rent growth), your $56k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 19y 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 $197,000 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.53% ✓
• Cap rate: 12.53%
• Cash-on-cash: 22.27%
• DSCR: 1.99
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $160,190
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13381 Magnolia #168	0.00mi	3/2.0 (+1)	1,942 (+1%)	2mo	$150,000	$77	92
13381 Magnolia Ave #79	0.00mi	2/2.0	1,788 (-7%)	10mo	$130,000	$73	80
13381 Magnolia Ave #65	0.00mi	2/2.0	1,740 (-10%)	13mo	$125,000	$72	73
13381 Magnolia #85	0.00mi	2/2.0	1,786 (-8%)	23mo	$153,000	$86	69
13381 Magnolia Ave #13	0.00mi	2/2.0	1,680 (-13%)	21mo	$149,000	$89	61
777 S Temescal St #70	0.67mi	3/2.0 (+1)	1,680 (-13%)	13mo	$140,000	$83	31

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 · 2.77% rent growth · sell at horizon

5-year hold

• IRR: 14.8%
• Equity multiple: 1.59×
• Total profit: $33,112
• Equity at exit: $29,821

10-year hold

• IRR: 23.4%
• Equity multiple: 2.99×
• Total profit: $111,351
• Equity at exit: $17,292

Cash invested: $56,000 (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 92879

• Rents YoY: 2.8%
• Active inventory: 90
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $3,065 high
• Mortgage (P&I): −$1,049
• Tax est. 1.5%: −$250 /mo · $3,000/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$644
• Net cashflow: $1,039

Break-even live

Break-even rent $1,750

Max offer price $200,000

Occupancy floor 61%

Sensitivity live

Price	-10% $1,177	-5% $1,108	+0% $1,039	+5% $970	+10% $901
Rent	-10% $797	-5% $918	+0% $1,039	+5% $1,160	+10% $1,281
Rate	-1.0pp $1,140	-0.5pp $1,090	base $1,039	+0.5pp $987	+1.0pp $935

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3827 Grant St #54 Corona, CA	3.0	2.5	1354	$3,250	$2.40	5d	1	0.19mi
13079 Winterpark Way Riverside, CA	3.0	3.0	1695	$3,350	$1.98	0d	1	0.46mi
3713 Calle Curacso Riverside, CA	3.0	2.5	1300	$3,090	$2.38	45d	1	0.52mi
3713 Calle Curacso Riverside, CA	3.0	2.0	1300	$3,090	$2.38	18d	1	0.52mi
2225 Collett Ave Corona, CA	1.0–3.0	1.0–2.0	1117	$2,937	$2.63	0d	33	0.62mi
451 Wellesley Dr Corona, CA	1.0–3.0	1.0–3.0	1038	$3,032	$2.92	0d	15	0.67mi
2365 Promenade Ave Corona, CA	1.0–2.0	1.0–2.0	892	$2,559	$2.87	0d	17	0.75mi
371 Dylan Cir Corona, CA	3.0	2.0	1625	$3,500	$2.15	5d	1	0.81mi
400 Yellowstone Cir Corona, CA	3.0	2.5	1594	$3,400	$2.13	25d	1	0.83mi
2235 Treehouse Ln Corona, CA	1.0–2.0	1.0–2.0	886	$2,779	$3.13	0d	18	0.84mi
501 Roosevelt St Corona, CA	3.0	2.0	1272	$3,350	$2.63	12d	1	0.93mi
2235 Indigo Hills Dr #6 Corona, CA	2.0	2.0	1380	$2,950	$2.14	45d	1	1.05mi
2209 Ascot St Corona, CA	3.0	2.5	1318	$2,995	$2.27	45d	1	1.12mi
1502 Mariposa Dr Corona, CA	1.0	1.0	1994	$1,295	$0.65	45d	1	1.29mi
3590 Buchanan St Riverside, CA	3.0	2.0	1913	$3,500	$1.83	45d	1	1.39mi
2130 Almeria St Unit 102 Corona, CA	2.0	2.5	1371	$2,950	$2.15	3d	1	1.39mi
1048 Explanada St #103 Corona, CA	3.0	2.5	1524	$3,495	$2.29	19d	1	1.45mi

Listing history 18 events

1. 2026-06-21
   days on market $200,000 Active 24 DOM
2. 2026-06-18
   days on market $200,000 Active 21 DOM
3. 2026-06-17
   days on market $200,000 Active 20 DOM
4. 2026-06-16
   days on market $200,000 Active 19 DOM
5. 2026-06-15
   days on market $200,000 Active 18 DOM
6. 2026-06-13
   days on market $200,000 Active 16 DOM
7. 2026-06-13
   days on market $200,000 Active 15 DOM
8. 2026-06-09
   days on market $200,000 Active 12 DOM
9. 2026-06-08
   days on market $200,000 Active 11 DOM
10. 2026-06-07
    days on market $200,000 Active 10 DOM
11. 2026-06-04
    days on market $200,000 Active 7 DOM
12. 2026-06-03
    days on market $200,000 Active 6 DOM
13. 2026-06-02
    days on market $200,000 Active 5 DOM
14. 2026-06-01
    days on market $200,000 Active 4 DOM
15. 2026-05-31
    days on market $200,000 Active 3 DOM
16. 2026-05-28
    listed $200,000 Active
17. 2007-11-01
    historical
18. 2007-10-15
    listed $110,000

ⓘ 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 7/10 Severe 7 d/yr ≥101°F today · 20 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: $36,779
• − Mortgage interest: −$11,203
• − Property taxes: −$3,000
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,942
• − Management: −$2,942
• − Depreciation: −$5,818
• Taxable income: $9,873
• Est. tax owed @ 24.0%: −$2,370
• After-tax cash flow: $10,100/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: Corona-Norco Unified
• NCES district ID: 0609850
• Math proficiency: 46% ▲ 1.00%
• Reading proficiency: 61% ▬ 0.00%
• Median HH income: $83,380
• Composite: 50.72/100
• National rank: #3920
• State rank: #312 of 1400 in CA

Livability — Home Gardens

• Score: 55/100
• State rank: #833
• US rank: #23168

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Home Gardens, CA
• County: Riverside County · 2,287,001 people
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 49,317
• Household income: $92,229
• Rent vs Own: 43.4% rent · 56.6% own
• Severe rent burden: 2058.0

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 59% White 21% Two or more races 13% Asian 13% Black 5% Native American 2%
• Hispanic origin (detail): Mexican 50%
• Common ancestry: Italian 2% Romanian 1% Armenian 1%
• Foreign-born: 30% · Canada, Vietnam, China
• Languages at home: 43% English-only · Spanish 44% Tagalog/Filipino 2% Other Indo-European 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: ▼ -395.32%
• Current HPI: 380.3129
• Rent YoY: ▲ 2.77%
• 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

+81.8% since first listed

3 events — show timeline

• 2026-05-28 Listed $200,000 CRMLS
• 2007-11-01 Listing Removed — CRMLS
• 2007-10-15 Listed $110,000 CRMLS

Property tax history

-5.4%/yr

Latest (2025): $304 · +4.0% YoY. Source: county tax records.