52102 Date Ave

Cabazon, CA 92230

$269,900D

2 bd · 2.0 ba · 1,440 sqft · Built 1978 · Manufactured · Active · 33 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,774/mo
• Mortgage (P&I): −$1,415
• Tax + insurance: −$287
• HOA: −$0
• Vac / Maint / Mgmt: −$373
• Net cashflow: $-301/mo
• Annual: $-3,611/yr
• Cap rate: 5.51%
• Cash-on-cash: -2.79%
• DSCR: 0.88
• 1% rule: 0.66%
• Cash to close: $75,572

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $270k.
• At list price, monthly cash flow is $-301 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $217k (19.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $177k (34.3% below list).
• It's been on market 33 days — a 3% lower offer ($262k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $177k (34.3% below list) — sets the bar for 1% rule.
• In year one you build about $11k of equity ($2k loan paydown + $9k appreciation (3.2% local appreciation)).
• Location reads 53/100 on livability (#926 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+, crime B; Watch: cost of living D+, employment D, 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.
• Zoned schools: Central Elementary (783 students, 89% FRL); Nicolet Middle (975 students, 90% FRL); Banning High (1,146 students, 87% FRL).
• Watch-outs: flood insurance adds $125/mo.
• Market conditions: 67 active listings in the ZIP; 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).
• Riverside County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 8 sale attempts since 14y 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 $92k; list at $270k implies a 192% gain — meaningful room to come down on a strong offer.
• By year 4, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); 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.

Questions for listing agent

• 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?
• It's been on market 33 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
• Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.