501 S mistletoe #19

San Jacinto, CA 92582

$119,000B

1 bd · 1.0 ba · 500 sqft · Built 2025 · Manufactured · Active · 124 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,436/mo
• Mortgage (P&I): −$624
• Tax + insurance: −$198
• HOA: −$0
• Vac / Maint / Mgmt: −$302
• Net cashflow: $312/mo
• Annual: $3,745/yr
• Cap rate: 9.44%
• Cash-on-cash: 11.24%
• DSCR: 1.50
• 1% rule: 1.21%
• Cash to close: $33,320

Investor read

• This is a 1-bed/1.0-bath manufactured listed at $119k. Condition is rated excellent.
• At list price, monthly cash flow is $312 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $119k).
• It's been on market 124 days — a 12% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $105k (12.0% below list) — sets the bar for market timing.
• In year one you build about $13k of equity ($823 loan paydown + $12k appreciation (10.0% local appreciation)).
• Location reads 63/100 on livability (#467 in CA) — a middle-class / working-renter tenant base. Strengths: housing A+; Watch: employment D+, amenities F, cost of living F.
• San Jacinto Unified (suburban): math 13% / reading 36% proficiency, ranked #421 of 517 in CA (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: North Mountain Middle (math 24% / reading 24%, grade F, #277 of 498 statewide, top 73%, 844 students, 90% FRL); San Jacinto High (math 14% / reading 38%, grade F, #807 of 1,170 statewide, top 69%, 2,617 students, 85% FRL) — zoned schools average 87% FRL vs 68% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 124 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 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.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 6→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 9.4% vs local median 3.8% in San Jacinto — 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.

Questions for listing agent

• It's been on market 124 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.