32090 Ranch Rd · Homeland, CA 92548

$449,500

2 bd · 2.0 ba · 2,840 sqft · Manufactured public records · 190 Days on market

Built 2010 9,148 sqft lot

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Why this score? — see what drove the F 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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +4.7/30.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Livability +2.2/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

GREAT OPPORTUNITY!!! FIXER UPPER!!! BEAUTIFUL MOUNTAIN VIEWS. STARTER HOME TO FIX UP, OR CAN REMOVE AND PUT ON A NEW HOME! . 21 ACRES LOCATED IN QUIET CUL-DE-SAC. LOW TAX AREA.

Key facts

• Remodeled showers
• New window screens
• Central a/c

Tags

• REMODELED SHOWERS
• NEW WINDOW SCREENS
• CENTRAL A/C

Property features AI

Exterior

• Parking: Attached garage; Two garage spaces (two parking spaces total)
• Utilities: Public water district service; Sewer or septic (unknown)
• Home design: Single-story; No shared/common walls; No accessory dwelling unit
• Construction: Certified 433a foundation
• Exterior features: Manufactured home; No pool; Lot roughly 0–1 unit per acre; Curbs

Interior

• Bedrooms: Five bedrooms on the main level
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Central heating (furnace); Central air conditioning
• Interior features: One-level layout; All bedrooms on the main level; Main-level entry
• Laundry & utility: Washer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $450k.

Deal economics

• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• To cash-flow at today's rent, offer at most $252k (43.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $204k (54.7% below list).
• Recommended offer: $204k (54.7% below list) — sets the bar for 1% rule.
• Cap rate 3.3% vs local median 5.9% in Homeland — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 45/100 on livability (#1,297 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: cost of living C-, health & safety C-, employment D.
• Romoland Elementary (suburban): math 35% / reading 44% proficiency, ranked #699 of 1,400 in CA (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 53 active listings in the ZIP; 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).

Forward outlook

• In year one you build about $48k of equity ($3k loan paydown + $45k appreciation (10.0% local appreciation)).
• Riverside County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$77k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 190 days — a 12% lower offer ($396k) is reasonable based on typical stale-listing flexibility.
• 22 sale attempts since 20y ago; this cycle's ask is 15982% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $85k; list at $450k implies a 429% gain — meaningful room to come down on a strong offer.

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 $203,701 (54.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 190 days. Have you received any prior offers? Is the seller open to a 55% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.45% ✗
• Cap rate: 3.32%
• Cash-on-cash: -10.63%
• DSCR: 0.53
• GRM: 18.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.8%
• Equity multiple: 2.38×
• Total profit: $173,573
• Equity at exit: $404,945

10-year hold

• IRR: 16.0%
• Equity multiple: 5.50×
• Total profit: $566,598
• Equity at exit: $873,280

Cash invested: $125,860 (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 92548

• Home prices YoY: 16.7%
• Active inventory: 53
• Price-to-rent: 18.4×

Monthly cashflow live

• Estimated rent: $2,037 medium
• Mortgage (P&I): −$2,357
• Tax from tax record: −$180 /mo · $2,160/yr
• Insurance: −$187
• HOA: −$0
• Vacancy / Maint / Mgmt: −$428
• Net cashflow: $-1,115

Break-even live

Break-even rent $3,449

Max offer price $252,482

Occupancy floor —

Sensitivity live

Price	-10% $-861	-5% $-988	+0% $-1,115	+5% $-1,243	+10% $-1,370
Rent	-10% $-1,276	-5% $-1,196	+0% $-1,115	+5% $-1,035	+10% $-954
Rate	-1.0pp $-889	-0.5pp $-1,001	base $-1,115	+0.5pp $-1,232	+1.0pp $-1,350

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: $112,375
• Closing costs: $13,485
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-04
   days on market $449,500 Active 190 DOM
2. 2026-06-03
   days on market $449,500 Active 189 DOM
3. 2026-06-02
   days on market $449,500 Active 188 DOM
4. 2026-06-01
   remarks 305-char remark
5. 2026-06-01
   listed $449,500 Active 187 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: $2,160 · $180/mo
• Projected year-2 tax: $3,416 · $285/mo
• Expected delta: +$1,256/yr (+$105/mo · 58.2%)

ⓘ 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 8/10 Severe
• 🌡 Heat 7/10 Severe 7 d/yr ≥103°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 10 unhealthy d/yr today · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,444
• − Mortgage interest: −$25,179
• − Property taxes: −$2,160
• − Insurance: −$2,248
• − Repairs & maintenance: −$1,956
• − Management: −$1,956
• − Depreciation: −$13,076
• Taxable loss: −$22,130
• Est. tax savings @ 24.0%: +$5,311
• After-tax cash flow: $-8,072/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: Romoland Elementary
• NCES district ID: 0633390
• Math proficiency: 35% ▲ 2.00%
• Reading proficiency: 44% ▲ 1.00%
• Median HH income: $58,935
• Composite: 37.36/100
• National rank: #8931
• State rank: #699 of 1400 in CA

Livability — Homeland

• Score: 45/100
• State rank: #1297
• US rank: #26584

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Homeland, CA
• Population (ZIP): 6,435

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: Predominantly Hispanic (65%)
• Race & ethnicity: Hispanic / Latino 65% White 30% Two or more races 9% Native American 3% Asian 3%
• Hispanic origin (detail): Mexican 59% Puerto Rican 2%
• Common ancestry: Italian 2% Lithuanian 1% Serbian 1%
• Foreign-born: 20% · Canada, South Korea
• Languages at home: 54% English-only · Spanish 44% Korean 1% Vietnamese 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: ▲ 62.36%
• Current HPI: 435.0222
• Rent YoY: —
• Metro: —
• 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

-86.7% since first listed

30 events — show timeline

• 2026-06-01 Relisted — CRMLS
• 2026-05-20 Listed for Rent $2,795 CRMLS
• 2026-05-09 Relisted — CRMLS
• 2026-04-24 Relisted — CRMLS
• 2026-03-27 Relisted — CRMLS
• 2026-02-27 Relisted — CRMLS
• 2026-02-01 Relisted — CRMLS
• 2026-01-17 Relisted — CRMLS
• 2025-12-20 Relisted — CRMLS
• 2025-11-21 Relisted — CRMLS
• 2025-10-17 Relisted — CRMLS
• 2025-09-27 Relisted — CRMLS
• 2025-07-18 Relisted — CRMLS
• 2025-06-01 Relisted — CRMLS
• 2025-05-09 Relisted — CRMLS
• 2025-03-22 Relisted — CRMLS
• 2025-02-25 Relisted — CRMLS
• 2025-02-21 Rental Removed $2,795 CRMLS
• 2025-02-06 Price Changed $2,795 CRMLS
• 2025-02-01 Listed for Rent $2,950 CRMLS
• 2024-11-01 Relisted — CRMLS
• 2024-10-07 Price Changed $449,500 CRMLS
• 2024-09-28 Listed $460,000 CRMLS
• 2019-03-07 Listing Removed — CRMLS
• 2019-01-04 Price Changed $279,950 CRMLS
• 2018-12-12 Listed $289,950 CRMLS
• 2006-11-13 Sold (Public Records) $85,000 Public Records
• 2006-11-13 Sold (MLS) $85,000 CRMLS
• 2006-05-25 Listed $95,000 CRMLS
• 1997-03-26 Sold (Public Records) $21,000 Public Records

Property tax history

+1.5%/yr

Latest (2025): $2,160 · -0.0% YoY. Source: county tax records.