32900 Riverside Dr Spc 109 · Lake Elsinore, CA 92530

$205,000

2 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 74 Days on market

Built 1999 $153/sqft · 15% below area Est $240k · 15% 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 +28.2/30.0
• ARV discount +14.0/15.0
• DSCR +10.0/10.0
• 1% rule +6.4/10.0
• Schools +3.7/10.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This spacious mobile home, nestled in the heart of Lake Elsinore, offers comfortable family living in a welcoming all-ages park community. The home features an open floor plan with three bedrooms and two renovated full bathrooms in 2024, along with newly installed air conditioning for year round comfort. Residents can enjoy a variety of community amenities, including a swimming pool, spa, laundry facilities, billiard room, and exercise room. The property is conveniently located near shopping centers and directly across the street from Lakeside High School, as well as close to an elementary school. Just a short walk to the lake and launch point, this home is perfect for outdoor enthusiasts, whether you enjoy swimming, boating, fishing, or simply taking in the beautiful scenery. With quick access to the 15 Freeway and Highway 74 toward Orange County.

Key facts

• Laundry facilities
• Open floor plan
• Community amenities

Tags

• OPEN FLOOR PLAN
• RECENTLY RENOVATED BATHROOMS
• COMMUNITY AMENITIES
• SWIMMING POOL
• SPA
• LAUNDRY FACILITIES

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $205k.

Deal economics

• At list price, monthly cash flow is $652 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $205k).
• Recommended offer: $193k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 3.3% in Lake Elsinore — 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 62/100 on livability (#510 in CA) — a middle-class / working-renter tenant base. Strengths: housing A+, crime B, employment B; Watch: schools D, amenities D, commute F.
• Lake Elsinore Unified (suburban): math 34% / reading 49% proficiency, ranked #210 of 517 in CA (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-0.8%/yr); 453 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 32% of the median local income ($87k/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 $6k 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.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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 $130k; list at $205k implies a 58% 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 $192,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 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 D-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: 1.14% ✓
• Cap rate: 10.11%
• Cash-on-cash: 13.63%
• DSCR: 1.61
• GRM: 7.3

CMA / ARV

• ARV (median comp): $239,900
• List price: $205,000
• Delta: -14.55%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
32900 Riverside #51	0.01mi	3/2.0 (+1)	1,334 (-1%)	4mo	$239,900	$180	90
32900 Riverside Dr #118	0.00mi	3/2.0 (+1)	1,360 (+1%)	12mo	$227,000	$167	83
32900 Riverside Dr. #55	0.05mi	3/2.0 (+1)	1,320 (-2%)	9mo	$219,000	$166	82
32900 Riverside Dr #72	0.09mi	3/2.0 (+1)	1,392 (+4%)	13mo	$193,000	$139	74

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 0.6%
• Equity multiple: 1.02×
• Total profit: $1,346
• Equity at exit: $30,566

10-year hold

• IRR: 7.3%
• Equity multiple: 1.48×
• Total profit: $27,699
• Equity at exit: $17,725

Cash invested: $57,400 (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 92530

• Home prices YoY: -34.3%
• Rents YoY: -0.8%
• Active inventory: 453
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,345 high
• Mortgage (P&I): −$1,075
• Tax from tax record: −$40 /mo · $481/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$492
• Net cashflow: $652

Break-even live

Break-even rent $1,520

Max offer price $205,000

Occupancy floor 67%

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15190 Grand Ave Lake Elsinore, CA	1.0–3.0	1.0–2.0	840	$1,868	$2.22	1d	6	0.26mi
15120 Grand Ave Lake Elsinore, CA	1.0–3.0	1.0–2.0	870	$2,285	$2.63	1d	7	0.30mi
33111 Jamieson St Lake Elsinore, CA	2.0	1.0	1000	$1,425	$1.43	16d	1	0.35mi
1121 Monroe St Unit NA Lake Elsinore, CA	3.0	2.0	1100	$2,575	$2.34	14d	1	0.55mi
583 Le Harve Ave Lake Elsinore, CA	3.0	2.0	1174	$2,750	$2.34	43d	1	0.56mi
15680 Shadow Mountain Ln Lake Elsinore, CA	3.0	2.0	1220	$2,495	$2.05	43d	1	0.58mi
15195 Lincoln St Lake Elsinore, CA	1.0–3.0	1.0–2.0	832	$2,175	$2.61	1d	1	0.80mi
892 Robin Dr Lake Elsinore, CA	2.0	2.0	1315	$2,450	$1.86	1d	1	0.87mi
16523 Joy St Lake Elsinore, CA	3.0	2.0	1200	$2,400	$2.00	24d	1	1.14mi
16465 Joy St Unit 20 Lake Elsinore, CA	2.0	2.0	950	$1,850	$1.95	18d	1	1.17mi
30042 Sugarpine St Lake Elsinore, CA	3.0	2.0	1566	$3,790	$2.42	2d	1	1.21mi
15120 Ironwood St Lake Elsinore, CA	3.0	2.0	1391	$3,450	$2.48	1d	1	1.24mi
590 Parkview Dr Lake Elsinore, CA	1.0	1.0	944	$1,900	$2.01	24d	1	1.29mi
597 Woodcrest Dr Lake Elsinore, CA	3.0–4.0	2.5	1600	$2,545	$1.59	1d	1	1.38mi
16524 Badalona St Lake Elsinore, CA	3.0	2.0	1540	$2,875	$1.87	18d	1	1.40mi
685 Woodcrest Dr Unit A Lake Elsinore, CA	2.0	2.5	1000	$2,200	$2.20	43d	1	1.44mi

Listing history 22 events

1. 2026-06-18
   days on market $205,000 Active 74 DOM
2. 2026-06-17
   days on market $205,000 Active 73 DOM
3. 2026-06-16
   days on market $205,000 Active 72 DOM
4. 2026-06-15
   days on market $205,000 Active 71 DOM
5. 2026-06-13
   days on market $205,000 Active 69 DOM
6. 2026-06-13
   days on market $205,000 Active 68 DOM
7. 2026-06-09
   days on market $205,000 Active 65 DOM
8. 2026-06-08
   days on market $205,000 Active 64 DOM
9. 2026-06-07
   days on market $205,000 Active 63 DOM
10. 2026-06-04
    days on market $205,000 Active 60 DOM
11. 2026-06-03
    days on market $205,000 Active 59 DOM
12. 2026-06-02
    days on market $205,000 Active 58 DOM
13. 2026-06-01
    days on market $205,000 Active 57 DOM
14. 2026-05-31
    days on market $205,000 Active 56 DOM
15. 2026-05-14
    status Active 860-char remark

    Show marketing remark (860 chars)

    This spacious mobile home, nestled in the heart of Lake Elsinore, offers comfortable family living in a welcoming all-ages park community. The home features an open floor plan with three bedrooms and two renovated full bathrooms in 2024, along with newly installed air conditioning for year round comfort. Residents can enjoy a variety of community amenities, including a swimming pool, spa, laundry facilities, billiard room, and exercise room. The property is conveniently located near shopping centers and directly across the street from Lakeside High School, as well as close to an elementary school. Just a short walk to the lake and launch point, this home is perfect for outdoor enthusiasts, whether you enjoy swimming, boating, fishing, or simply taking in the beautiful scenery. With quick access to the 15 Freeway and Highway 74 toward Orange County.

16. 2026-03-24
    historical 860-char remark

    Show marketing remark (860 chars)

    This spacious mobile home, nestled in the heart of Lake Elsinore, offers comfortable family living in a welcoming all-ages park community. The home features an open floor plan with three bedrooms and two renovated full bathrooms in 2024, along with newly installed air conditioning for year round comfort. Residents can enjoy a variety of community amenities, including a swimming pool, spa, laundry facilities, billiard room, and exercise room. The property is conveniently located near shopping centers and directly across the street from Lakeside High School, as well as close to an elementary school. Just a short walk to the lake and launch point, this home is perfect for outdoor enthusiasts, whether you enjoy swimming, boating, fishing, or simply taking in the beautiful scenery. With quick access to the 15 Freeway and Highway 74 toward Orange County.

17. 2026-02-11
    listed $205,000 Active 860-char remark

    Show marketing remark (860 chars)

    This spacious mobile home, nestled in the heart of Lake Elsinore, offers comfortable family living in a welcoming all-ages park community. The home features an open floor plan with three bedrooms and two renovated full bathrooms in 2024, along with newly installed air conditioning for year round comfort. Residents can enjoy a variety of community amenities, including a swimming pool, spa, laundry facilities, billiard room, and exercise room. The property is conveniently located near shopping centers and directly across the street from Lakeside High School, as well as close to an elementary school. Just a short walk to the lake and launch point, this home is perfect for outdoor enthusiasts, whether you enjoy swimming, boating, fishing, or simply taking in the beautiful scenery. With quick access to the 15 Freeway and Highway 74 toward Orange County.

18. 2023-08-10
    soldstatus $130,000 Closed Sale 689-char remark

    Show marketing remark (689 chars)

    Welcome to this Spacious 3 Bedrooms, 2 Full Baths Open Concept Home located in an ALL AGE Park. Lovely size Kitchen & Laundry Room. Washing Machine, Dryer & Refrigerator will be staying with Purchase. Laminate Wood & Vinyl Flooring throughout. Primary Bathroom offers a Soaking Tub & seperate Shower. All NEW Light Fixtures & Curtains. High Ceilings, Beam & Eat in Kitchen plus Dinning area. Covered Carport, 2 Sheds in the Back & Larger one has an A/C Window Unit, Owner used it as his work shop. Butterfield Park, near Ortega HWY offers: Pool / Spa / Game Room / Clubhouse / Views & Walk to the Lake! Come see your new place TODAY! Cheers!

19. 2023-06-20
    status Pending Sale 689-char remark

    Show marketing remark (689 chars)

    Welcome to this Spacious 3 Bedrooms, 2 Full Baths Open Concept Home located in an ALL AGE Park. Lovely size Kitchen & Laundry Room. Washing Machine, Dryer & Refrigerator will be staying with Purchase. Laminate Wood & Vinyl Flooring throughout. Primary Bathroom offers a Soaking Tub & seperate Shower. All NEW Light Fixtures & Curtains. High Ceilings, Beam & Eat in Kitchen plus Dinning area. Covered Carport, 2 Sheds in the Back & Larger one has an A/C Window Unit, Owner used it as his work shop. Butterfield Park, near Ortega HWY offers: Pool / Spa / Game Room / Clubhouse / Views & Walk to the Lake! Come see your new place TODAY! Cheers!

20. 2023-06-20
    status Active 689-char remark

    Show marketing remark (689 chars)

    Welcome to this Spacious 3 Bedrooms, 2 Full Baths Open Concept Home located in an ALL AGE Park. Lovely size Kitchen & Laundry Room. Washing Machine, Dryer & Refrigerator will be staying with Purchase. Laminate Wood & Vinyl Flooring throughout. Primary Bathroom offers a Soaking Tub & seperate Shower. All NEW Light Fixtures & Curtains. High Ceilings, Beam & Eat in Kitchen plus Dinning area. Covered Carport, 2 Sheds in the Back & Larger one has an A/C Window Unit, Owner used it as his work shop. Butterfield Park, near Ortega HWY offers: Pool / Spa / Game Room / Clubhouse / Views & Walk to the Lake! Come see your new place TODAY! Cheers!

21. 2023-06-13
    historical Active Under Contract 689-char remark

    Show marketing remark (689 chars)

    Welcome to this Spacious 3 Bedrooms, 2 Full Baths Open Concept Home located in an ALL AGE Park. Lovely size Kitchen & Laundry Room. Washing Machine, Dryer & Refrigerator will be staying with Purchase. Laminate Wood & Vinyl Flooring throughout. Primary Bathroom offers a Soaking Tub & seperate Shower. All NEW Light Fixtures & Curtains. High Ceilings, Beam & Eat in Kitchen plus Dinning area. Covered Carport, 2 Sheds in the Back & Larger one has an A/C Window Unit, Owner used it as his work shop. Butterfield Park, near Ortega HWY offers: Pool / Spa / Game Room / Clubhouse / Views & Walk to the Lake! Come see your new place TODAY! Cheers!

22. 2023-05-26
    listed $139,500 Active 689-char remark

    Show marketing remark (689 chars)

    Welcome to this Spacious 3 Bedrooms, 2 Full Baths Open Concept Home located in an ALL AGE Park. Lovely size Kitchen & Laundry Room. Washing Machine, Dryer & Refrigerator will be staying with Purchase. Laminate Wood & Vinyl Flooring throughout. Primary Bathroom offers a Soaking Tub & seperate Shower. All NEW Light Fixtures & Curtains. High Ceilings, Beam & Eat in Kitchen plus Dinning area. Covered Carport, 2 Sheds in the Back & Larger one has an A/C Window Unit, Owner used it as his work shop. Butterfield Park, near Ortega HWY offers: Pool / Spa / Game Room / Clubhouse / Views & Walk to the Lake! Come see your new place TODAY! Cheers!

ⓘ 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: $481 · $40/mo
• Projected year-2 tax: $1,558 · $130/mo
• Expected delta: +$1,077/yr (+$90/mo · 224.1%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 9 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,142
• − Mortgage interest: −$11,483
• − Property taxes: −$481
• − Insurance: −$1,025
• − Repairs & maintenance: −$2,251
• − Management: −$2,251
• − Depreciation: −$5,964
• Taxable income: $4,686
• Est. tax owed @ 24.0%: −$1,125
• After-tax cash flow: $6,701/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: Lake Elsinore Unified
• NCES district ID: 0600027
• Math proficiency: 34% ▲ 5.00%
• Reading proficiency: 49% ▲ 8.00%
• Median HH income: $63,829
• Composite: 37.01/100
• National rank: #4518
• State rank: #210 of 517 in CA

Livability — Lake Elsinore

• Score: 62/100
• State rank: #510
• US rank: #17250

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Elsinore, CA
• County: Riverside County · 2,287,001 people
• City population: 89,823
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 61,768
• Household income: $86,862
• Rent vs Own: 32.1% rent · 67.9% own
• Severe rent burden: 1690.0

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 0.55)
• Race & ethnicity: Hispanic / Latino 61% White 28% Two or more races 21% Black 4% Asian 4% Native American 2%
• Hispanic origin (detail): Mexican 50% Puerto Rican 1%
• Common ancestry: Iranian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 22% · Canada, China, Jamaica
• Languages at home: 55% English-only · Spanish 41% Tagalog/Filipino 1% Chinese 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: ▼ -205.66%
• Current HPI: 394.1705
• Rent YoY: ▼ -0.76%
• 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

+47.0% since first listed

8 events — show timeline

• 2026-05-14 Relisted — CRMLS
• 2026-03-24 Listing Removed — CRMLS
• 2026-02-11 Listed $205,000 CRMLS
• 2023-08-10 Sold (MLS) $130,000 CRMLS
• 2023-06-20 Pending — CRMLS
• 2023-06-20 Relisted — CRMLS
• 2023-06-13 Contingent — CRMLS
• 2023-05-26 Listed $139,500 CRMLS

Property tax history

-1.8%/yr

Latest (2025): $481 · +4.8% YoY. Source: county tax records.