222 W Rice St · Blythe, CA 92225

$1,250,000

120 bd · 100.0 ba · 4,454 sqft · MultiFamily · 158 Days on market

Built 1930 Fair condition 0.34 ac lot ↓ 7% since listing

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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 +15.1/30.0
• ARV discount +7.5/15.0
• DSCR +4.6/10.0
• 1% rule +4.2/10.0
• Livability +3.7/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 10 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

10-Unit Apartment Complex - 222 W Rice St Perfect opportunity to purchase a cash flowing asset in the heart of Blythe. Unit Mix: 1 Studio Apartment - Fully remodeled including plumbing, electrical and mini split AC. 6 One-Bedroom/One-Bath Units - 4 units completely remodeled with new plumbing, electrical, and Mini split units. 3 Two-Bedroom/One-Bath Units - 1 Fully remodeled with new plumbing electrical and plumbing and mini splits. 1 remodeled by previous owner 5 years ago. Rental Status: A mix of 5 furnished and 5 unfurnished units, with some leased through Airbnb and others directly to tenants, providing flexible income streams.

Key facts

• Mini split ac
• Unfurnished units
• Fully remodeled

Tags

• FULLY REMODELED
• NEW PLUMBING
• NEW ELECTRICAL
• MINI SPLIT AC
• FURNISHED UNITS
• UNFURNISHED UNITS

What this means for you Summary

Snapshot

• This is a 7×1bd/1ba + 3×2bd/1ba units multifamily listed at $1.25M. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $410 ($5k/yr) — positive. Per door: $41/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.15M (8.4% below list).
• Recommended offer: $1.10M (12.0% below list) — sets the bar for market timing.
• Cap rate 6.7% vs local median 4.6% in Blythe — 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 74/100 on livability (#143 in CA, #4,910 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: employment D, amenities F.
• Palo Verde Unified (town): math 20% / reading 34% proficiency, ranked #1,133 of 1,400 in CA (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Felix J. Appleby Elementary (632 students, 84% FRL); Palo Verde High (820 students, 76% FRL) — zoned schools average 80% FRL vs 64% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 192 active listings in the ZIP; 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $9k of loan paydown is wiped out by about $38k 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 158 days — a 12% lower offer ($1.10M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,100,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 158 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.92% ✗
• Cap rate: 6.69%
• Cash-on-cash: 1.41%
• DSCR: 1.06
• GRM: 9.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -14.0%
• Equity multiple: 0.50×
• Total profit: $-176,256
• Equity at exit: $186,379

10-year hold

• IRR: -5.2%
• Equity multiple: 0.66×
• Total profit: $-119,138
• Equity at exit: $108,077

Cash invested: $350,000 (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 92225

• Home prices YoY: -15.8%
• Active inventory: 192
• Price-to-rent: 93.0×

Monthly cashflow live

• Estimated rent: $11,454 medium
• Mortgage (P&I): −$6,555
• Tax est. 1.5%: −$1,562 /mo · $18,750/yr
• Insurance: −$521
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,405
• Net cashflow: $410

Break-even live

Break-even rent $10,935

Max offer price $1,250,000

Occupancy floor 91%

Sensitivity live

Price	-10% $1,274	-5% $842	+0% $410	+5% $-22	+10% $-454
Rent	-10% $-495	-5% $-42	+0% $410	+5% $863	+10% $1,315
Rate	-1.0pp $1,040	-0.5pp $728	base $410	+0.5pp $86	+1.0pp $-243

10-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 7× units	1	1	$7,840
▸ 3× units	2	1	$3,612
Total (10 units)			$11,454

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: $312,500
• Closing costs: $37,500
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $1,250,000 Active 158 DOM
2. 2026-06-19
   days on market $1,250,000 Active 156 DOM
3. 2026-06-18
   days on market $1,250,000 Active 155 DOM
4. 2026-06-17
   days on market $1,250,000 Active 154 DOM
5. 2026-06-16
   days on market $1,250,000 Active 153 DOM
6. 2026-06-15
   days on market $1,250,000 Active 152 DOM
7. 2026-06-14
   days on market $1,250,000 Active 150 DOM
8. 2026-06-12
   days on market $1,250,000 Active 149 DOM
9. 2026-06-09
   days on market $1,250,000 Active 146 DOM
10. 2026-06-08
    days on market $1,250,000 Active 145 DOM
11. 2026-06-07
    days on market $1,250,000 Active 144 DOM
12. 2026-06-07
    days on market $1,250,000 Active 143 DOM
13. 2026-06-04
    days on market $1,250,000 Active 140 DOM
14. 2026-06-02
    days on market $1,250,000 Active 139 DOM
15. 2026-06-01
    days on market $1,250,000 Active 138 DOM
16. 2026-05-31
    days on market $1,250,000 Active 137 DOM
17. 2026-05-31
    days on market $1,250,000 Active 136 DOM
18. 2026-01-14
    listed $1,250,000 Active 641-char remark

    Show marketing remark (641 chars)

    10-Unit Apartment Complex - 222 W Rice St Perfect opportunity to purchase a cash flowing asset in the heart of Blythe. Unit Mix: 1 Studio Apartment - Fully remodeled including plumbing, electrical and mini split AC. 6 One-Bedroom/One-Bath Units - 4 units completely remodeled with new plumbing, electrical, and Mini split units. 3 Two-Bedroom/One-Bath Units - 1 Fully remodeled with new plumbing electrical and plumbing and mini splits. 1 remodeled by previous owner 5 years ago. Rental Status: A mix of 5 furnished and 5 unfurnished units, with some leased through Airbnb and others directly to tenants, providing flexible income streams.

19. 2025-10-22
    historical
20. 2025-08-05
    listed $1,350,000 Active

ⓘ 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 1/10 Low FEMA zone D · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥116°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $137,448
• − Mortgage interest: −$70,019
• − Property taxes: −$18,750
• − Insurance: −$6,250
• − Repairs & maintenance: −$10,996
• − Management: −$10,996
• − Depreciation: −$36,364
• Taxable loss: −$15,927
• Est. tax savings @ 24.0%: +$3,822
• After-tax cash flow: $8,745/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.

Condition & rehab AI · 2 photos

Fair 45/100 Moderate rehab

This 10-unit apartment complex requires moderate rehabilitation to improve its condition and increase its resale and rental value.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major roof — No visible damage, but age is implied
• Major landscaping — Sparse vegetation, unkempt appearance

Value-add opportunities

• Both exterior painting — Enhances curb appeal and value
• Both roof repair — Improves structural integrity and value
• Both landscaping — Enhances curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
roof · No visible damage, but age is implied	Major	$15,000–50,000
landscaping · Sparse vegetation, unkempt appearance	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both exterior painting — Enhances curb appeal and value ↑
• Both roof repair — Improves structural integrity and value ↑
• Both landscaping — Enhances curb appeal and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Palo Verde Unified
• NCES district ID: 0629640
• Math proficiency: 20% ▲ 3.00%
• Reading proficiency: 34% ▲ 5.00%
• Median HH income: $40,808
• Composite: 25.77/100
• National rank: #12796
• State rank: #1133 of 1400 in CA

Livability — Blythe

• Score: 74/100
• State rank: #143
• US rank: #4910

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Blythe, CA
• Population (ZIP): 21,101

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 0.58)
• Race & ethnicity: Hispanic / Latino 59% White 26% Two or more races 13% Black 10% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 54%
• Common ancestry: Lithuanian 1% Romanian 1% Iranian 1%
• Foreign-born: 18% · Canada
• Languages at home: 55% English-only · Spanish 42% Other Indo-European 1% Tagalog/Filipino 0%

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: ▼ -40.53%
• Current HPI: 215.4794
• Rent YoY: —
• Metro: —
• 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

-7.4% since first listed

3 events — show timeline

• 2026-01-14 Listed $1,250,000 CRMLS
• 2025-10-22 Listing Removed — CRMLS
• 2025-08-05 Listed $1,350,000 CRMLS