55880 Mitchell Rd · Anza, CA 92539

$229,000

2 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 288 Days on market

Built 1977 1.04 ac lot $170/sqft · 41% below area Est $389k · 41% 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 +22.5/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +7.2/10.0
• 1% rule +5.9/10.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Livability +2.2/5.0

Listing remarks MLS

Manufactured home on a fully usable 1-acre lot in Anza—a fixer with significant potential. The home offers approximately 1,344 sq ft with 2 bedrooms plus an additional room currently used as a third bedroom or office, and 2 bathrooms. Functional layout with generously sized rooms, ready for renovation and personal updates. The property includes a livable barn with loft and 1½ bathrooms, suitable for guests, hobbies, storage, or workshop use (buyer to verify permits and intended use). Fully fenced with mature trees, open lawn areas, and ample space for animals, gardening, or outdoor projects. Located on a paved road with easy access, this property is ideal for buyers seeking a fixer, value-add opportunity, or rural property with multiple-use potential. Sold as-is.

Key facts

• 1.04 acre lot
• Built 1977
• Listed 287 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $229k.

Deal economics

• At list price, monthly cash flow is $384 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $229k).
• Recommended offer: $202k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 3.5% in Anza — 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 45/100 on livability (#1,301 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A-, crime B; Watch: schools F, amenities F, commute F.
• Hemet Unified (suburban): math 19% / reading 41% proficiency, ranked #360 of 517 in CA (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 155 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).

Forward outlook

• In year one you build about $24k of equity ($2k loan paydown + $23k appreciation (10.0% local appreciation)).
• Riverside County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $64k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 288 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 25y ago; this cycle's ask has dropped $84k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 9→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $201,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 288 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
7. 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.
8. 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: 1.09% ✓
• Cap rate: 8.30%
• Cash-on-cash: 7.18%
• DSCR: 1.32
• GRM: 7.6

CMA / ARV

• ARV (median comp): $389,158
• List price: $229,000
• Delta: -41.15%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
37657 Bonita Vista Rd	0.61mi	3/2.0 (+1)	1,440 (+7%)	20mo	$295,600	$205	38
38600 Bahrman Rd	0.65mi	3/2.0 (+1)	1,512 (+12%)	10mo	$410,000	$271	35
38380 Licon Rd	0.46mi	3/2.0 (+1)	1,188 (-12%)	23mo	$230,000	$194	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 29.5%
• Equity multiple: 3.33×
• Total profit: $149,193
• Equity at exit: $206,301

10-year hold

• IRR: 25.6%
• Equity multiple: 7.55×
• Total profit: $420,223
• Equity at exit: $444,897

Cash invested: $64,120 (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 92539

• Home prices YoY: 16.5%
• Active inventory: 155
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $2,500 medium
• Mortgage (P&I): −$1,201
• Tax from tax record: −$295 /mo · $3,541/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $384

Break-even live

Break-even rent $2,014

Max offer price $229,000

Occupancy floor 80%

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
37455 Brandon Rd Anza, CA	3.0	2.0	1782	$2,500	$1.40	14d	1	1.38mi

Listing history 17 events

1. 2026-06-04
   days on market $229,000 Active 288 DOM
2. 2026-06-03
   days on market $229,000 Active 287 DOM
3. 2026-06-02
   days on market $229,000 Active 286 DOM
4. 2026-06-02
   price $229,000 Active 285 DOM
5. 2026-06-01
   days on market $274,950 Active 285 DOM
6. 2026-05-31
   days on market $274,950 Active 284 DOM
7. 2026-02-06
   price $274,950 786-char remark

   Show marketing remark (786 chars)

   Manufactured home on a fully usable 1-acre lot in Anza—a fixer with significant potential. The home offers approximately 1,344 sq ft with 2 bedrooms plus an additional room currently used as a third bedroom or office, and 2 bathrooms. Functional layout with generously sized rooms, ready for renovation and personal updates. The property includes a livable barn with loft and 1½ bathrooms, suitable for guests, hobbies, storage, or workshop use (buyer to verify permits and intended use). Fully fenced with mature trees, open lawn areas, and ample space for animals, gardening, or outdoor projects. Located on a paved road with easy access, this property is ideal for buyers seeking a fixer, value-add opportunity, or rural property with multiple-use potential. Sold as-is.

8. 2025-10-15
   price $299,950 786-char remark

   Show marketing remark (786 chars)

   Manufactured home on a fully usable 1-acre lot in Anza—a fixer with significant potential. The home offers approximately 1,344 sq ft with 2 bedrooms plus an additional room currently used as a third bedroom or office, and 2 bathrooms. Functional layout with generously sized rooms, ready for renovation and personal updates. The property includes a livable barn with loft and 1½ bathrooms, suitable for guests, hobbies, storage, or workshop use (buyer to verify permits and intended use). Fully fenced with mature trees, open lawn areas, and ample space for animals, gardening, or outdoor projects. Located on a paved road with easy access, this property is ideal for buyers seeking a fixer, value-add opportunity, or rural property with multiple-use potential. Sold as-is.

9. 2025-08-20
   listed $313,500 Active 786-char remark

   Show marketing remark (786 chars)

   Manufactured home on a fully usable 1-acre lot in Anza—a fixer with significant potential. The home offers approximately 1,344 sq ft with 2 bedrooms plus an additional room currently used as a third bedroom or office, and 2 bathrooms. Functional layout with generously sized rooms, ready for renovation and personal updates. The property includes a livable barn with loft and 1½ bathrooms, suitable for guests, hobbies, storage, or workshop use (buyer to verify permits and intended use). Fully fenced with mature trees, open lawn areas, and ample space for animals, gardening, or outdoor projects. Located on a paved road with easy access, this property is ideal for buyers seeking a fixer, value-add opportunity, or rural property with multiple-use potential. Sold as-is.

10. 2025-08-12
    historical $313,500 786-char remark

    Show marketing remark (786 chars)

    Manufactured home on a fully usable 1-acre lot in Anza—a fixer with significant potential. The home offers approximately 1,344 sq ft with 2 bedrooms plus an additional room currently used as a third bedroom or office, and 2 bathrooms. Functional layout with generously sized rooms, ready for renovation and personal updates. The property includes a livable barn with loft and 1½ bathrooms, suitable for guests, hobbies, storage, or workshop use (buyer to verify permits and intended use). Fully fenced with mature trees, open lawn areas, and ample space for animals, gardening, or outdoor projects. Located on a paved road with easy access, this property is ideal for buyers seeking a fixer, value-add opportunity, or rural property with multiple-use potential. Sold as-is.

11. 2005-06-27
    soldstatus $245,000 142-char remark

    Show marketing remark (142 chars)

    MANUFACTURED HOME ON PAVED ROAD 1/4 MILE FROM SCHOOL. .ALL FENCED, HAS TREES, LAWN AND 900' HABITABLE BARN. NEW APPLIANCES, CARPET, AND PAINT.

12. 2005-06-24
    soldstatus $245,000
13. 2004-09-01
    listed $249,000 142-char remark

    Show marketing remark (142 chars)

    MANUFACTURED HOME ON PAVED ROAD 1/4 MILE FROM SCHOOL. .ALL FENCED, HAS TREES, LAWN AND 900' HABITABLE BARN. NEW APPLIANCES, CARPET, AND PAINT.

14. 2004-08-31
    soldstatus $70,000
15. 2001-06-09
    historical
16. 2001-03-14
    listed $125,000
17. 1987-03-09
    soldstatus $65,000

ⓘ 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: $3,541 · $295/mo
• Projected year-2 tax: $3,541 · $295/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 5/10 Major 9 d/yr ≥95°F today · 24 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,000
• − Mortgage interest: −$12,828
• − Property taxes: −$3,541
• − Insurance: −$1,145
• − Repairs & maintenance: −$2,400
• − Management: −$2,400
• − Depreciation: −$6,662
• Taxable income: $1,024
• Est. tax owed @ 24.0%: −$246
• After-tax cash flow: $4,357/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: Hemet Unified
• NCES district ID: 0616920
• Math proficiency: 19% ▼ -3.00%
• Reading proficiency: 41% ▲ 4.00%
• Median HH income: $39,962
• Composite: 25.16/100
• National rank: #7517
• State rank: #360 of 517 in CA

Livability — Anza

• Score: 45/100
• State rank: #1301
• US rank: #26600

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Anza, CA
• Population (ZIP): 3,480

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: White 54% Hispanic / Latino 36% Two or more races 16% Asian 8% Native American 4%
• Hispanic origin (detail): Mexican 34%
• Common ancestry: Italian 6% Lithuanian 4% Slovak 3%
• Foreign-born: 12% · Canada, South Korea, China
• Languages at home: 66% English-only · Spanish 26% Korean 4% Chinese 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: ▲ 46.58%
• Current HPI: 329.4083
• 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

+323.0% since first listed

11 events — show timeline

• 2026-02-06 Price Changed $274,950 CRMLS
• 2025-10-15 Price Changed $299,950 CRMLS
• 2025-08-20 Listed $313,500 CRMLS
• 2025-08-12 Coming Soon $313,500 CRMLS
• 2005-06-27 Sold (MLS) $245,000 CRMLS
• 2005-06-24 Sold (Public Records) $245,000 Public Records
• 2004-09-01 Listed $249,000 CRMLS
• 2004-08-31 Sold (Public Records) $70,000 Public Records
• 2001-06-09 Listing Removed — CRMLS
• 2001-03-14 Listed $125,000 CRMLS
• 1987-03-09 Sold (Public Records) $65,000 Public Records

Property tax history

+2.1%/yr

Latest (2025): $3,541 · +5.6% YoY. Source: county tax records.