4000 Pierce St #110 · Riverside, CA 92504

$249,000

2 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 12 Days on market

Built 1977

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Why this score? — see what drove the C 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 +24.3/30.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Rent growth +3.9/5.0
• Schools +3.4/10.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this beautifully remodeled 2-bedroom, 2-bath manufactured home located in the highly desirable 55+ community of The Meadows. Approximately 1680 SQFT of living space and thoughtfully renovated from top to bottom, this turnkey residence offers modern upgrades and exceptional attention to detail throughout. Step inside to discover brand-new flooring, new double-pane windows, and fresh blinds throughout the home. The stunning new kitchen features custom cabinetry, gorgeous granite countertops, and brand-new stainless steel appliances, creating the perfect space for cooking and entertaining. A stylish new wet bar adds additional charm and functionality. The spacious primary suite

Key facts

• Custom cabinetry
• New wet bar
• Granite countertops

Tags

• REMODELED HOME
• NEW DOUBLE-PANE WINDOWS
• CUSTOM CABINETRY
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• NEW WET BAR

Property features AI

Finance

• Other: Property located in a land-lease mobile home community
• Financial info: Land lease: $1,100 monthly
• HOA & community: Senior community; Community features include street lighting and suburban setting; Park name: The Meadows; Manager approval required for the park; Pets: contact manager

Exterior

• Parking: Attached carport
• Utilities: Private sewer; District / public water
• Home design: Single-story property; Entry at front door
• Construction: Seismic bracing (quake bracing); Mobile dimensions approximately 36 ft wide by 56 ft long; Year built reported by seller
• Exterior features: Front porch; Patio; Deck; Community pool; Corner lot; Two sheds on the property; Mobile home on site remains

Interior

• Kitchen: Kitchen open to family room; Granite counters; 6-burner stove; Gas cooktop; Microwave; Dishwasher
• Bedrooms: All bedrooms on the main floor; Main floor bedroom
• Flooring: Laminated flooring
• Bathrooms: Two full bathrooms; Remodeled bathrooms with walk-in shower and granite counters
• Heating & cooling: Central cooling; Central furnace heating
• Interior features: Wet bar / bar; Ceiling fan; Open floor plan; Granite counters; Double pane windows with blinds; One-level home; entry at front door
• Laundry & utility: Inside laundry in a dedicated room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $249k.

Deal economics

• At list price, monthly cash flow is $500 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $249k).
• Cap rate 8.7% vs local median 3.0% in Riverside — 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 66/100 on livability (#337 in CA) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A-, commute B+; Watch: schools C-, health & safety D, crime F.
• Alvord Unified (urban): math 28% / reading 42% proficiency, ranked #852 of 1,400 in CA (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.7%/yr); 90 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 36% of the median local income ($92k/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 $2k of loan paydown is wiped out by about $7k 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.
• At projected returns (-3.0% appreciation + 5.7% rent growth), your $70k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 20y 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.

Risks & watch-outs

• Climate carrying-cost: major flood risk; major wildfire risk; extreme-heat days projected 6→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $249,000

Questions for the listing agent

1. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.13% ✓
• Cap rate: 8.70%
• Cash-on-cash: 8.61%
• DSCR: 1.38
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $141,120
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4000 Pierce #135	0.00mi	2/2.0	1,344 (0%)	0mo	$115,000	$86	100
4000 Pierce #282	0.04mi	2/2.0	1,440 (+7%)	2mo	$139,000	$97	85
4000 Pierce #138	0.00mi	3/2.0 (+1)	1,440 (+7%)	2mo	$191,000	$133	81
4000 Pierce St #220	0.00mi	3/2.0 (+1)	1,440 (+7%)	7mo	$136,000	$94	77
4000 Pierce St #279	0.00mi	3/2.0 (+1)	1,440 (+7%)	8mo	$100,000	$69	76
3883 Buchanan St #28	0.36mi	3/2.0 (+1)	1,344 (0%)	8mo	$192,000	$143	71
3663 Buchanan #112	0.63mi	3/2.0 (+1)	1,344 (0%)	1mo	$169,000	$126	65
3663 Buchanan St #90	0.63mi	3/2.0 (+1)	1,344 (0%)	7mo	$140,000	$104	59
3883 Buchanan St #88	0.42mi	2/2.0	1,464 (+9%)	8mo	$153,000	$105	59
3883 Buchanan St #65	0.36mi	2/2.0	1,152 (-14%)	4mo	$22,000	$19	56
3663 Buchanan St #154	0.69mi	3/2.0 (+1)	1,365 (+2%)	8mo	$145,000	$106	53
3663 Buchanan St #15	0.63mi	3/2.0 (+1)	1,152 (-14%)	8mo	$150,000	$130	35

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 · 5.67% rent growth · sell at horizon

5-year hold

• IRR: -0.3%
• Equity multiple: 0.99×
• Total profit: $-688
• Equity at exit: $37,127

10-year hold

• IRR: 12.0%
• Equity multiple: 2.06×
• Total profit: $74,215
• Equity at exit: $21,529

Cash invested: $69,720 (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 92504

• Rents YoY: 5.7%
• Active inventory: 90
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,811 high
• Mortgage (P&I): −$1,306
• Tax est. 1.5%: −$311 /mo · $3,735/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$590
• Net cashflow: $500

Break-even live

Break-even rent $2,178

Max offer price $249,000

Occupancy floor 77%

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3957 Pierce St Riverside, CA	1.0–2.0	1.0–2.0	845	$2,795	$3.31	1d	31	0.26mi
11711 Collett Ave Riverside, CA	1.0–3.0	1.0–2.0	1018	$3,229	$3.17	1d	21	0.36mi
4408 Ambs Dr Riverside, CA	3.0	2.0	1470	$3,040	$2.07	43d	1	0.47mi
2930 Via Milano Outside Area (Inside Ca), CA	1.0	2.0	1007	$2,500	$2.48	43d	1	0.63mi
11520 Magnolia Ave Riverside, CA	1.0–2.0	1.0–2.0	851	$2,634	$3.09	2d	7	0.71mi
11377 Brookglen Ct Riverside, CA	3.0	2.5	1532	$3,400	$2.22	24d	1	0.89mi
4259 Redstar Ct Riverside, CA	3.0	2.0	1178	$3,000	$2.55	24d	1	0.91mi
4259 Redstar Ct Riverside, CA	3.0	2.0	1178	$3,000	$2.55	5d	1	0.91mi
4259 Redstar Ct Riverside, CA	3.0	2.0	1178	$3,000	$2.55	15d	1	0.91mi
4259 Redstar Ct Riverside, CA	3.0	2.0	1178	$3,000	$2.55	20d	1	0.91mi
11309 Rasmussen Ct Riverside, CA	3.0	2.5	1535	$3,225	$2.10	18d	1	0.93mi
371 Dylan Cir Corona, CA	3.0	2.0	1625	$3,500	$2.15	4d	1	0.98mi
11331 River Trail Ct Riverside, CA	3.0	2.5	1532	$3,200	$2.09	43d	1	0.99mi
4655 Sierra Vista Ave Riverside, CA	2.0–3.0	2.0	1043	$2,536	$2.43	2d	11	0.99mi
11207 Magnolia Ave Riverside, CA	2.0	2.0	1200	$2,250	$1.88	24d	1	1.00mi
545 Hamilton Dr Corona, CA	1.0	1.0	900	$1,900	$2.11	24d	1	1.00mi
4725 Sierra Vista Ave Riverside, CA	1.0–2.0	1.0–2.0	785	$2,882	$3.67	3d	10	1.00mi
3900 Fir Tree Dr Riverside, CA	1.0–2.0	1.0–2.0	789	$2,695	$3.42	2d	6	1.06mi
11282 Price Ct Riverside, CA	3.0	2.5	1646	$3,095	$1.88	43d	1	1.21mi
2365 Promenade Ave Corona, CA	1.0–2.0	1.0–2.0	892	$2,557	$2.87	1d	18	1.25mi
3850 Skofstad St Riverside, CA	1.0–2.0	1.0–2.0	880	$2,135	$2.43	24d	2	1.28mi
2361 Mary Helen St Unit 102 Corona, CA	2.0	1.5	1000	$2,395	$2.40	2d	1	1.37mi
2341 Mary Helen St Unit 104 Corona, CA	3.0	2.5	1000	$2,550	$2.55	43d	1	1.38mi
3713 Calle Curacso Riverside, CA	3.0	2.0	1300	$3,090	$2.38	16d	1	1.39mi
3713 Calle Curacso Riverside, CA	3.0	2.5	1300	$3,090	$2.38	43d	1	1.39mi
2235 Treehouse Ln Corona, CA	1.0–2.0	1.0–2.0	886	$2,770	$3.12	2d	17	1.42mi

Listing history 10 events

1. 2026-06-18
   days on market $249,000 Active 12 DOM
2. 2026-06-17
   days on market $249,000 Active 11 DOM
3. 2026-06-16
   days on market $249,000 Active 10 DOM
4. 2026-06-15
   days on market $249,000 Active 9 DOM
5. 2026-06-13
   days on market $249,000 Active 7 DOM
6. 2026-06-13
   days on market $249,000 Active 6 DOM
7. 2026-06-09
   days on market $249,000 Active 3 DOM
8. 2026-06-08
   days on market $249,000 Active 2 DOM
9. 2026-06-07
   remarks 699-char remark
10. 2026-06-07
    listed $249,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 92% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 7/10 Severe 6 d/yr ≥102°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 19 unhealthy d/yr today · 23 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,738
• − Mortgage interest: −$13,948
• − Property taxes: −$3,735
• − Insurance: −$1,245
• − Repairs & maintenance: −$2,699
• − Management: −$2,699
• − Depreciation: −$7,244
• Taxable income: $2,168
• Est. tax owed @ 24.0%: −$520
• After-tax cash flow: $5,483/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: Alvord Unified
• NCES district ID: 0602430
• Math proficiency: 28% ▲ 1.00%
• Reading proficiency: 42% ▲ 2.00%
• Median HH income: $58,965
• Composite: 33.81/100
• National rank: #10383
• State rank: #852 of 1400 in CA

Livability — Riverside

• Score: 66/100
• State rank: #337
• US rank: #11613

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Riverside, CA
• County: Riverside County · 2,287,001 people
• City population: 367,890
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 57,132
• Household income: $92,477
• Rent vs Own: 35.6% rent · 64.4% own
• Severe rent burden: 1669.0

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 0.60)
• Race & ethnicity: Hispanic / Latino 56% White 28% Two or more races 14% Black 8% Asian 4%
• Hispanic origin (detail): Mexican 48%
• Common ancestry: Slovak 1% Italian 1% Lithuanian 1%
• Foreign-born: 20% · Canada, Vietnam, China
• Languages at home: 58% English-only · Spanish 37% Chinese 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: ▼ -457.73%
• Current HPI: 414.1936
• Rent YoY: ▲ 5.67%
• 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

+232.4% since first listed

7 events — show timeline

• 2026-06-06 Listed $249,000 CRMLS
• 2007-06-28 Listing Removed — CRMLS
• 2007-04-20 Listed $57,900 CRMLS
• 2007-01-01 Listing Removed — CRMLS
• 2006-10-02 Listed $64,900 CRMLS
• 2006-10-01 Listing Removed — CRMLS
• 2006-08-22 Listed $74,900 CRMLS

Property tax history

-6.3%/yr

Latest (2025): $199 · +8.7% YoY. Source: county tax records.