4000 Pierce #278 · Riverside, CA 92505

$110,000

2 bd · 2.0 ba · 1,488 sqft · Manufactured public records · 6 Days on market

Built 1978 Est $132k · 17% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.6/5.0
• Schools +3.4/10.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Amazing Opportunity, rare Corner Lot!! This 1488 Sq. Ft. 2 Bed/2Bath Manufactured Home shows light and bright and will please the pickiest of buyers! The Riverside Meadows is one of the Inland Empire's most Prestigious retirement (55 and Over) communities. You will enjoy your drive through this private Secure/Gated community. The park is immaculately maintained and you will not help but notice the luxurious club house which offers a pool, workout area, gaming area, and more than can be listed here. The park is centrally located, Easy Freeway Access, Great Restaurants, The Galleria at Tyler and The Kaiser Medical Facility.

Key facts

• Covered carport
• Enclosed sun porch
• Community pool

Tags

• ENCLOSED SUN PORCH
• OVERSIZED INDOOR LAUNDRY ROOM
• COVERED CARPORT
• MULTIPLE STORAGE SHEDS

Property features AI

Finance

• Other: Exclusions: sewing machines and personal items in sheds; Directions: corner of Magnolia & Birch
• Financial info: Land lease (monthly)
• HOA & community: Part of an association; Senior community; Community features include street lighting and sidewalks; Park name: Meadows; Manager approval required

Exterior

• Parking: Driveway; Attached carport; Parking available
• Security: Card/code access; Carbon monoxide detector(s); Smoke detector(s)
• Utilities: Public sewer; District/public water; Electricity connected; Sewer connected; Water connected
• Home design: Single-story home; Entry level 1; Mobile home remains (60' x 24'); Turnkey condition with minor cosmetic repairs noted
• Construction: Mobile home dimensions 60' x 24'; Year built source: assessor
• Exterior features: Covered front and rear porches; Patio; In-ground community pool (gunite); Heated community spa (in-ground, association); Chain link fencing; Corner lot with yard; Has view; Roll roof

Interior

• Kitchen: Dishwasher; Garbage disposal; Free standing range; Range/stove hood; Electric oven; Tile countertops; Utility sink
• Bedrooms: Main floor bedroom; Primary suite with double sinks
• Flooring: Vinyl; Carpet
• Bathrooms: Two full bathrooms; Master bathroom with double sinks; Bathtub and separate shower / shower in tub
• Heating & cooling: Central electric cooling; Natural gas heating (forced air, central furnace)
• Interior features: Ceiling fan; Tile counters; Front door entry; Formal entry; Walk-in closet; Primary suite; Laundry room (inside, separate room); One-level floorplan
• Laundry & utility: Laundry inside in a dedicated room; Water heater unit

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $110k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $110k).
• Cap rate 22.1% 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: schools C-, health & safety D, crime F.
• Alvord Unified (urban): math 28% / reading 42% proficiency, ranked #852 of 1,400 in CA (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.5%/yr); 63 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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).
• This rent runs 39% of the median local income ($85k/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 $761 of loan paydown is wiped out by about $3k 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 + 4.5% rent growth), your $31k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 13y 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 $57k; list at $110k implies a 93% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wildfire risk; extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $110,000

Questions for the listing agent

1. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 2.54% ✓
• Cap rate: 22.06%
• Cash-on-cash: 56.29%
• DSCR: 3.50
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $132,432
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4000 Pierce #282	0.17mi	2/2.0	1,440 (-3%)	2mo	$139,000	$97	85
4000 Pierce #138	0.14mi	3/2.0 (+1)	1,440 (-3%)	2mo	$191,000	$133	81
4000 Pierce #135	0.14mi	2/2.0	1,344 (-10%)	0mo	$115,000	$86	77
4000 Pierce St #197	0.14mi	3/2.0 (+1)	1,680 (+13%)	5mo	$149,000	$89	63
3700 Buchanan St #132	0.67mi	2/2.0	1,440 (-3%)	2mo	$158,000	$110	62
3700 Buchanan St #108	0.67mi	3/2.0 (+1)	1,456 (-2%)	3mo	$189,900	$130	58
3500 Buchanan St #21	0.73mi	2/2.0	1,440 (-3%)	3mo	$87,500	$61	58
3700 Buchanan St #28	0.67mi	3/2.0 (+1)	1,440 (-3%)	4mo	$80,000	$56	55
3663 Buchanan #112	0.50mi	3/2.0 (+1)	1,344 (-10%)	1mo	$169,000	$126	55
3700 Buchanan St #105	0.67mi	2/2.0	1,344 (-10%)	1mo	$86,000	$64	52
3700 Buchanan St #69	0.67mi	2/2.0	1,344 (-10%)	6mo	$120,000	$89	48
3700 Buchanan St #98	0.67mi	3/2.0 (+1)	1,344 (-10%)	2mo	$120,000	$89	46

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 · 4.47% rent growth · sell at horizon

5-year hold

• IRR: 53.6%
• Equity multiple: 3.41×
• Total profit: $74,239
• Equity at exit: $16,401

10-year hold

• IRR: 59.3%
• Equity multiple: 7.36×
• Total profit: $195,740
• Equity at exit: $9,511

Cash invested: $30,800 (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 92505

• Rents YoY: 4.5%
• Active inventory: 63
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $2,791 high
• Mortgage (P&I): −$577
• Tax est. 1.5%: −$138 /mo · $1,650/yr
• Insurance: −$46
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$586
• Net cashflow: $1,378

Break-even live

Break-even rent $1,046

Max offer price $110,000

Occupancy floor 46%

Sensitivity live

Price	-10% $1,454	-5% $1,416	+0% $1,378	+5% $1,340	+10% $1,302
Rent	-10% $1,158	-5% $1,268	+0% $1,378	+5% $1,489	+10% $1,599
Rate	-1.0pp $1,434	-0.5pp $1,406	base $1,378	+0.5pp $1,350	+1.0pp $1,321

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3957 Pierce St Riverside, CA	1.0–2.0	1.0–2.0	845	$2,795	$3.31	0d	24	0.32mi
11711 Collett Ave Riverside, CA	1.0–3.0	1.0–2.0	1018	$3,158	$3.10	0d	22	0.50mi
2930 Via Milano Outside Area (Inside Ca), CA	1.0	2.0	1007	$2,500	$2.48	44d	1	0.50mi
4408 Ambs Dr Riverside, CA	3.0	2.0	1470	$3,040	$2.07	44d	1	0.59mi
11520 Magnolia Ave Riverside, CA	1.0–3.0	1.0–2.0	902	$3,406	$3.78	0d	7	0.77mi
371 Dylan Cir Corona, CA	3.0	2.0	1625	$3,500	$2.15	5d	1	0.86mi
545 Hamilton Dr Corona, CA	1.0	1.0	900	$1,900	$2.11	25d	1	0.90mi
11377 Brookglen Ct Riverside, CA	3.0	2.5	1532	$3,400	$2.22	25d	1	1.04mi
4259 Redstar Ct Riverside, CA	3.0	2.0	1178	$3,000	$2.55	21d	1	1.05mi
4259 Redstar Ct Riverside, CA	3.0	2.0	1178	$3,000	$2.55	6d	1	1.05mi
4259 Redstar Ct Riverside, CA	3.0	2.0	1178	$3,000	$2.55	25d	1	1.05mi
4259 Redstar Ct Riverside, CA	3.0	2.0	1178	$3,000	$2.55	15d	1	1.05mi
11309 Rasmussen Ct Riverside, CA	3.0	2.5	1535	$3,225	$2.10	18d	1	1.08mi
11207 Magnolia Ave Riverside, CA	2.0	2.0	1200	$2,250	$1.88	25d	1	1.09mi
11331 River Trail Ct Riverside, CA	3.0	2.5	1532	$3,200	$2.09	44d	1	1.13mi
4655 Sierra Vista Ave Riverside, CA	1.0–3.0	1.0–2.0	950	$2,935	$3.09	0d	12	1.14mi
4725 Sierra Vista Ave Riverside, CA	1.0–2.0	1.0–2.0	785	$2,890	$3.68	0d	9	1.15mi
2365 Promenade Ave Corona, CA	1.0–2.0	1.0–2.0	892	$2,559	$2.87	0d	17	1.15mi
3900 Fir Tree Dr Riverside, CA	1.0–2.0	1.0–2.0	789	$2,695	$3.42	0d	6	1.16mi
3713 Calle Curacso Riverside, CA	3.0	2.0	1300	$3,090	$2.38	17d	1	1.24mi
3713 Calle Curacso Riverside, CA	3.0	2.5	1300	$3,090	$2.38	44d	1	1.24mi
11282 Price Ct Riverside, CA	3.0	2.5	1646	$3,095	$1.88	44d	1	1.26mi
2361 Mary Helen St Unit 102 Corona, CA	2.0	1.5	1000	$2,395	$2.40	2d	1	1.30mi
2341 Mary Helen St Unit 104 Corona, CA	3.0	2.5	1000	$2,550	$2.55	44d	1	1.31mi
2235 Treehouse Ln Corona, CA	1.0–2.0	1.0–2.0	886	$2,779	$3.13	0d	18	1.33mi
3850 Skofstad St Riverside, CA	1.0–2.0	1.0–2.0	880	$2,135	$2.43	25d	2	1.39mi
2215 Lakeside Pl Corona, CA	2.0–3.0	1.0–2.0	1043	$2,265	$2.17	0d	25	1.44mi
2235 Indigo Hills Dr #6 Corona, CA	2.0	2.0	1380	$2,950	$2.14	44d	1	1.48mi

Listing history 5 events

1. 2026-06-18
   days on market $110,000 Active 6 DOM
2. 2026-06-17
   days on market $110,000 Active 5 DOM
3. 2026-06-16
   days on market $110,000 Active 4 DOM
4. 2026-06-15
   remarks 609-char remark
5. 2026-06-15
   listed $110,000 Active 3 DOM

ⓘ 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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 7/10 Severe 6 d/yr ≥102°F today · 17 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: $33,495
• − Mortgage interest: −$6,162
• − Property taxes: −$1,650
• − Insurance: −$1,348
• − Repairs & maintenance: −$2,680
• − Management: −$2,680
• − Depreciation: −$3,200
• Taxable income: $15,776
• Est. tax owed @ 24.0%: −$3,786
• After-tax cash flow: $12,755/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: Alvord Unified
• NCES district ID: 0602430
• Math proficiency: 28% ▲ 1.00%
• Reading proficiency: 42% ▲ 2.00%
• Median HH income: $58,965
• Composite: 33.81/100
• National rank: #10383
• State rank: #852 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): 53,419
• Household income: $84,906
• Rent vs Own: 48.5% rent · 51.5% own
• Severe rent burden: 1940.0

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 60% White 20% Two or more races 17% Asian 10% Black 6% Native American 1%
• Hispanic origin (detail): Mexican 53%
• Common ancestry: Scandinavian 1% Lithuanian 1% Romanian 1%
• Foreign-born: 29% · Canada, Vietnam, South Korea
• Languages at home: 40% English-only · Spanish 47% Other Indo-European 4% Vietnamese 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: ▼ -379.14%
• Current HPI: 405.3408
• Rent YoY: ▲ 4.47%
• 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

+144.4% since first listed

10 events — show timeline

• 2026-06-12 Listed $110,000 CRMLS
• 2017-05-04 Sold (MLS) $57,000 CRMLS
• 2017-04-21 Pending — CRMLS
• 2017-04-03 Listed $57,500 CRMLS
• 2013-08-02 Sold (MLS) $28,000 CRMLS
• 2013-05-31 Pending — CRMLS
• 2013-05-13 Price Changed $30,000 CRMLS
• 2013-04-03 Listed $35,500 CRMLS
• 2013-01-30 Listing Removed — CRMLS
• 2013-01-24 Listed $45,000 CRMLS

Property tax history

+2.9%/yr

Latest (2025): $184 · +4.3% YoY. Source: county tax records.