24136 Olive St · Wildomar, CA 92584

$399,999

3 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 8 Days on market

Built 2004 9,583 sqft lot

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Why this score? — see what drove the D- 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 +13.2/30.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• DSCR +4.0/10.0
• Rent growth +2.8/5.0
• Livability +2.7/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

HUD HOME!! GREAT VALUE MOBILE HOME BUILT IN 2004, 3 BEDROOMS, 2 BATHROOMS, OVER 1300 SQUARE FEET OF LIVING SPACE. TWO CAR GARAGE. THIS HOME IS ON LAND WITH A WELL AND SEPTIC. MUST SEE!!

Key facts

• Flexible land use
• Rv parking
• Usable lot

Tags

• CORNER LOT
• PERMANENT FOUNDATION
• USABLE LOT
• RV PARKING
• EXPANSIVE BACKYARD
• FLEXIBLE LAND USE

Property features AI

Finance

• Other: Single-unit property
• HOA & community: Community features include horse trails, biking, hiking, and mountainous surroundings

Exterior

• Parking: Attached 2-car garage; 4 uncovered parking spaces; Total of 6 parking spaces
• Utilities: Well water; Septic tank
• Home design: Single-story property; No shared/common walls; Zoned RR; Certified 433a foundation
• Construction: Year built (assessor data)
• Exterior features: Corner lot; Horse property; No pool

Interior

• Kitchen: Walk-in pantry
• Bedrooms: Main floor primary bedroom
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central cooling
• Interior features: Main-level entry; One-story layout; Walk-in closet; Walk-in pantry; Entry; Living room; Family room; Primary bathroom; Has a view
• Laundry & utility: Laundry room; Gas and electric dryer hookups

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $400k.

Deal economics

• At list price, monthly cash flow is $-9 ($-103/yr) — negative.
• To cash-flow at today's rent, offer at most $398k (0.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $303k (24.3% below list).
• Recommended offer: $303k (24.3% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 3.3% in Wildomar — 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 53/100 on livability (#951 in CA) — a working-class tenant base; expect higher turnover. Strengths: crime A+, housing A+, employment B+; Watch: schools D, health & safety D, amenities F.
• Menifee Union Elementary (suburban): math 43% / reading 56% proficiency, ranked #434 of 1,400 in CA (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.4%/yr); 327 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).
• This rent runs 32% of the median local income ($114k/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 $3k of loan paydown is wiped out by about $12k 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

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 21y ago; this cycle's ask is 192% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $116k; list at $400k implies a 245% 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 $302,750 (24.3% below list)

Questions for the listing agent

1. 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?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.76% ✗
• Cap rate: 6.27%
• Cash-on-cash: -0.09%
• DSCR: 1.00
• GRM: 11.0

CMA / ARV

• ARV (on-the-fly): $196,224
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
24469 Manzanita Rd	0.38mi	2/2.0 (-1)	1,440 (+7%)	3mo	$210,000	$146	63

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 · 1.35% rent growth · sell at horizon

5-year hold

• IRR: -18.1%
• Equity multiple: 0.37×
• Total profit: $-70,484
• Equity at exit: $59,641

10-year hold

• IRR: -13.6%
• Equity multiple: 0.26×
• Total profit: $-82,430
• Equity at exit: $34,585

Cash invested: $112,000 (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 92584

• Home prices YoY: -21.9%
• Rents YoY: 1.4%
• Active inventory: 327
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $3,028 high
• Mortgage (P&I): −$2,098
• Tax from tax record: −$136 /mo · $1,632/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$636
• Net cashflow: $-9

Break-even live

Break-even rent $3,038

Max offer price $398,490

Occupancy floor 95%

Sensitivity live

Price	-10% $218	-5% $105	+0% $-9	+5% $-122	+10% $-235
Rent	-10% $-248	-5% $-128	+0% $-9	+5% $111	+10% $231
Rate	-1.0pp $193	-0.5pp $93	base $-9	+0.5pp $-112	+1.0pp $-218

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: $100,000
• Closing costs: $12,000
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
34130 Dianthus Ln Lake Elsinore, CA	4.0	2.0	1800	$3,000	$1.67	22d	1	0.53mi
33276 Homestead Ln Wildomar, CA	3.0	2.0	1525	$3,000	$1.97	44d	1	0.93mi
34281 Woodmont Lake Elsinore, CA	3.0	2.5	1767	$2,995	$1.69	11d	1	0.94mi
33320 Barley Ln Wildomar, CA	3.0	2.0	1344	$2,100	$1.56	5d	1	1.08mi
32237 Alexis Ln Unit B Menifee, CA	3.0	2.0	1200	$2,400	$2.00	2d	1	1.29mi

Listing history 7 events

1. 2026-06-18
   days on market $399,999 Active 8 DOM
2. 2026-06-17
   days on market $399,999 Active 7 DOM
3. 2026-06-16
   days on market $399,999 Active 6 DOM
4. 2026-06-15
   days on market $399,999 Active 5 DOM
5. 2026-06-13
   statusdays on market $399,999 Active 3 DOM
6. 2026-06-10
   remarks 693-char remark
7. 2026-06-10
   listed $399,999 Coming Soon 1 DOM

ⓘ 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: $1,632 · $136/mo
• Projected year-2 tax: $3,040 · $253/mo
• Expected delta: +$1,408/yr (+$117/mo · 86.3%)

ⓘ 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 8/10 Severe
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 9 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,330
• − Mortgage interest: −$22,406
• − Property taxes: −$1,632
• − Insurance: −$2,000
• − Repairs & maintenance: −$2,906
• − Management: −$2,906
• − Depreciation: −$11,636
• Taxable loss: −$7,157
• Est. tax savings @ 24.0%: +$1,718
• After-tax cash flow: $1,615/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: Menifee Union Elementary
• NCES district ID: 0624540
• Math proficiency: 43% ▬ 0.00%
• Reading proficiency: 56% ▲ 3.00%
• Median HH income: $58,228
• Composite: 45.17/100
• National rank: #5790
• State rank: #434 of 1400 in CA

Livability — Wildomar

• Score: 53/100
• State rank: #951
• US rank: #24427

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wildomar, CA
• County: Riverside County · 2,287,001 people
• City population: 34,438
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 61,366
• Household income: $113,767
• Rent vs Own: 14.7% rent · 85.3% own
• Severe rent burden: 766.0

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 0.68)
• Race & ethnicity: White 43% Hispanic / Latino 35% Two or more races 19% Asian 8% Black 7%
• Hispanic origin (detail): Mexican 28%
• Common ancestry: Romanian 2% Italian 2% Iranian 1%
• Foreign-born: 13% · Canada, Vietnam, China
• Languages at home: 77% English-only · Spanish 15% Tagalog/Filipino 3% Vietnamese 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: ▼ -92.31%
• Current HPI: 328.3025
• Rent YoY: ▲ 1.35%
• 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

+54.4% since first listed

24 events — show timeline

• 2026-06-09 Coming Soon $399,999 CRMLS
• 2015-01-15 Sold (MLS) $116,000 CRMLS
• 2014-12-11 Pending — CRMLS
• 2014-12-08 Price Changed $115,957 CRMLS
• 2014-11-26 Relisted — CRMLS
• 2014-10-28 Pending — CRMLS
• 2014-10-15 Relisted — CRMLS
• 2014-09-16 Pending — CRMLS
• 2014-08-21 Pending — CRMLS
• 2014-08-13 Price Changed $126,040 CRMLS
• 2014-07-18 Listed $137,000 CRMLS
• 2008-05-23 Sold (Public Records) $150,000 Public Records
• 2008-05-23 Sold (MLS) $150,000 CRMLS
• 2008-04-14 Listing Removed — CRMLS
• 2007-12-26 Listed $159,900 CRMLS
• 2007-08-29 Listing Removed — CRMLS
• 2007-07-13 Price Changed $225,000 CRMLS
• 2007-04-24 Listed $259,900 CRMLS
• 2007-04-17 Listing Removed — CRMLS
• 2006-11-16 Listing Removed — CRMLS
• 2006-08-17 Listed $259,900 CRMLS
• 2005-11-27 Listed $269,999 CRMLS
• 2005-11-23 Listing Removed — CRMLS
• 2005-08-30 Listed $259,000 CRMLS

Property tax history

+1.4%/yr

Latest (2025): $1,632 · +2.2% YoY. Source: county tax records.