3800 W Wilson #332 · Banning, CA 92220

$155,000

2 bd · 2.0 ba · 1,440 sqft · Manufactured public records · 85 Days on market

Built 1990 $108/sqft · 22% below area Est $198k · 22% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Livability +2.4/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming manufactured home located in the 55+ community of Mountain Springs. This home features 2 bedrooms and 2 bathrooms in 1,440 of living space. The home has been updated with beautiful wood floors and tile and a new oven in the kitchen. The second bathroom is handicapped accessible. There is a nice contained yard . The community has tennis courts, basketball courts and a pool lots of activities!!

Key facts

• Manufactured home
• Tennis courts
• Contained yard

Tags

• MANUFACTURED HOME
• CONTAINED YARD
• TENNIS COURTS
• BASKETBALL COURTS
• POOL

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $155k.

Deal economics

• At list price, monthly cash flow is $799 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $146k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.5% vs local median 3.0% in Banning — 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 48/100 on livability (#1,192 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing B+; Watch: crime C-, schools F, amenities F.
• Banning Unified (suburban): math 15% / reading 25% proficiency, ranked #1,258 of 1,400 in CA (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.6%/yr); 312 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).
• This rent runs 42% of the median local income ($63k/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 $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.
• At projected returns (-3.0% appreciation + 3.6% rent growth), your $43k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y 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 $44k; list at $155k implies a 248% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% 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 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?
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: 1.41% ✓
• Cap rate: 12.48%
• Cash-on-cash: 22.09%
• DSCR: 1.98
• GRM: 5.9

CMA / ARV

• ARV (median comp): $197,832
• List price: $155,000
• Delta: -21.65%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3800 W Wilson St #14	0.00mi	2/2.0	1,440 (0%)	2mo	$240,000	$167	99
3800 W Wilson #157	0.00mi	2/2.0	1,440 (0%)	9mo	$261,000	$181	93
3800 W Wilson St #394	0.16mi	3/2.0 (+1)	1,440 (0%)	3mo	$117,250	$81	86
3800 W Wilson St #256	0.00mi	2/2.0	1,344 (-7%)	8mo	$252,500	$188	82
3800 W Wilson St #295	0.00mi	2/2.0	1,536 (+7%)	8mo	$250,000	$163	82
3800 W Wilson #208	0.00mi	3/2.0 (+1)	1,344 (-7%)	6mo	$130,000	$97	79
3800 W Wilson St #17	0.00mi	2/2.0	1,248 (-13%)	1mo	$295,000	$236	77
3800 W Wilson St #2	0.00mi	2/2.0	1,248 (-13%)	8mo	$265,000	$212	71
3800 Wilson St #369	0.00mi	3/2.0 (+1)	1,634 (+14%)	2mo	$130,000	$80	71
4133 W WILSON #19	0.47mi	2/2.0	1,440 (0%)	9mo	$117,000	$81	71
3800 W Wilson St #104	0.00mi	3/2.0 (+1)	1,228 (-15%)	1mo	$129,999	$106	70
3800 W Wilson #59	0.25mi	2/2.0	1,248 (-13%)	1mo	$222,000	$178	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 · 3.58% rent growth · sell at horizon

5-year hold

• IRR: 15.4%
• Equity multiple: 1.62×
• Total profit: $26,987
• Equity at exit: $23,111

10-year hold

• IRR: 24.4%
• Equity multiple: 3.17×
• Total profit: $94,098
• Equity at exit: $13,402

Cash invested: $43,400 (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 92220

• Rents YoY: 3.6%
• Active inventory: 312
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $2,181 medium
• Mortgage (P&I): −$813
• Tax from tax record: −$47 /mo · $561/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$458
• Net cashflow: $799

Break-even live

Break-even rent $1,170

Max offer price $155,000

Occupancy floor 58%

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1949 W Williams St Banning, CA	3.0	2.0	1108	$2,350	$2.12	24d	1	1.00mi
228 Janan Ct Banning, CA	2.0	1.0	1100	$2,100	$1.91	1d	1	1.19mi

Listing history 23 events

1. 2026-06-18
   days on market $155,000 Active 85 DOM
2. 2026-06-17
   days on market $155,000 Active 84 DOM
3. 2026-06-16
   days on market $155,000 Active 83 DOM
4. 2026-06-15
   days on market $155,000 Active 82 DOM
5. 2026-06-13
   days on market $155,000 Active 80 DOM
6. 2026-06-13
   days on market $155,000 Active 79 DOM
7. 2026-06-09
   days on market $155,000 Active 76 DOM
8. 2026-06-08
   days on market $155,000 Active 75 DOM
9. 2026-06-07
   days on market $155,000 Active 74 DOM
10. 2026-06-04
    days on market $155,000 Active 71 DOM
11. 2026-06-03
    days on market $155,000 Active 70 DOM
12. 2026-06-02
    days on market $155,000 Active 69 DOM
13. 2026-06-01
    days on market $155,000 Active 68 DOM
14. 2026-05-31
    days on market $155,000 Active 67 DOM
15. 2026-05-12
    historical
16. 2026-04-25
    listed $159,000 Active
17. 2026-03-25
    listed $159,000 Active 421-char remark

    Show marketing remark (421 chars)

    Welcome to this charming manufactured home located in the 55+ community of Mountain Springs. This home features 2 bedrooms and 2 bathrooms in 1,440 of living space. The home has been updated with beautiful wood floors and tile and a new oven in the kitchen. The second bathroom is handicapped accessible. There is a nice contained yard . The community has tennis courts, basketball courts and a pool lots of activities!!

18. 2018-12-20
    historical
19. 2018-09-23
    price $65,000
20. 2018-06-20
    listed $70,000 Active
21. 2017-03-24
    status Pending Sale
22. 2017-03-24
    soldstatus $44,500 Closed Sale
23. 2017-01-31
    listed $49,000 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: $561 · $47/mo
• Projected year-2 tax: $1,178 · $98/mo
• Expected delta: +$617/yr (+$51/mo · 110.1%)

ⓘ 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 10/10 Extreme
• 🌡 Heat 6/10 Major 7 d/yr ≥100°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 18 unhealthy d/yr today · 23 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,172
• − Mortgage interest: −$8,682
• − Property taxes: −$561
• − Insurance: −$775
• − Repairs & maintenance: −$2,094
• − Management: −$2,094
• − Depreciation: −$4,509
• Taxable income: $7,458
• Est. tax owed @ 24.0%: −$1,790
• After-tax cash flow: $7,797/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: Banning Unified
• NCES district ID: 0603840
• Math proficiency: 15% ▬ 0.00%
• Reading proficiency: 25% ▼ -1.00%
• Median HH income: $39,303
• Composite: 20.12/100
• National rank: #13850
• State rank: #1258 of 1400 in CA

Livability — Banning

• Score: 48/100
• State rank: #1192
• US rank: #26047

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Banning, CA
• County: Riverside County · 2,287,001 people
• City population: 33,755
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 33,755
• Household income: $62,599
• Rent vs Own: 29.1% rent · 70.9% own
• Severe rent burden: 1146.0

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 0.64)
• Race & ethnicity: Hispanic / Latino 48% White 35% Two or more races 21% Black 6% Asian 5% Native American 4%
• Hispanic origin (detail): Mexican 44%
• Common ancestry: Italian 1% Romanian 1% Portuguese 1%
• Foreign-born: 17% · Canada, South Korea, China
• Languages at home: 65% English-only · Spanish 29% Tagalog/Filipino 1% Other Indo-European 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: ▼ -343.32%
• Current HPI: 342.4268
• Rent YoY: ▲ 3.58%
• 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

+224.5% since first listed

9 events — show timeline

• 2026-05-12 Listing Removed — CRMLS
• 2026-04-25 Listed $159,000 CRMLS
• 2026-03-25 Listed $159,000 CRMLS
• 2018-12-20 Listing Removed — CRMLS
• 2018-09-23 Price Changed $65,000 CRMLS
• 2018-06-20 Listed $70,000 CRMLS
• 2017-03-24 Pending — CRMLS
• 2017-03-24 Sold (MLS) $44,500 CRMLS
• 2017-01-31 Listed $49,000 CRMLS

Property tax history

+3.7%/yr

Latest (2025): $561 · +1.7% YoY. Source: county tax records.