2450 E Hobsonway #43 · Blythe, CA 92225

$59,900

3 bd · 2.0 ba · 1,568 sqft · Manufactured · 147 Days on market

Built 2007 Good condition $38/sqft · at area comps Est $57k · at est. $610/mo HOA · 35% of rent ↓ 30% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +5.6/15.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to your beautiful new home in the highly desirable Rancho Estates Mobile Home Park! This spacious 3-bedroom, 2-bathroom home offers a comfortable and functional layout perfect for families of all sizes. Enjoy a bright, open living area filled with natural light, a well-appointed kitchen featuring a water softener and reverse osmosis system, and a cozy dining space. The home also includes solar panels, providing energy efficiency and significant savings during the hot summer months. Rancho Estates is a friendly, well-maintained community offering great amenities, including a community pool perfect for relaxing and social gatherings. This is NOT a 55+ community, making it a great option for all ages.

Key facts

• Community pool
• Water softener
• Solar panels

Tags

• WATER SOFTENER
• REVERSE OSMOSIS SYSTEM
• SOLAR PANELS
• COMMUNITY POOL

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $60k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $349 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.3% 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, schools F, 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.
• Market conditions: 189 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $414 of loan paydown is wiped out by about $2k 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 + 3.0% rent growth), your $17k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 147 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 35% of rent.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $52,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 147 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 2.90% ✓
• Cap rate: 13.28%
• Cash-on-cash: 24.97%
• DSCR: 2.11
• GRM: 2.9

CMA / ARV

• ARV (median comp): $57,480
• List price: $59,900
• Delta: 4.21%
• Verdict: FAIR
• Comps: 4 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2450 E Hobsonway #75	0.08mi	3/2.0	1,432 (-9%)	2mo	$59,960	$42	80

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.9%
• Equity multiple: 1.77×
• Total profit: $12,924
• Equity at exit: $8,931

10-year hold

• IRR: 27.5%
• Equity multiple: 3.47×
• Total profit: $41,507
• Equity at exit: $5,179

Cash invested: $16,772 (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: 189
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,738 medium
• Mortgage (P&I): −$314
• Tax est. 1.5%: −$75 /mo · $898/yr
• Insurance: −$25
• HOA: −$610
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $349

Break-even live

Break-even rent $1,296

Max offer price $59,900

Occupancy floor 75%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2450 E Hobsonway Unit 40 Blythe, CA	4.0	2.0	1440	$1,700	$1.18	13d	1	0.10mi
2450 E Hobsonway #58 Blythe, CA	3.0	2.0	1440	$1,800	$1.25	13d	1	0.10mi
2200 E Donlon St Unit 2476 B Blythe, CA	3.0	2.0	1125	$1,395	$1.24	13d	1	0.32mi
460 River Valley Ave Blythe, CA	3.0	2.0	1344	$2,600	$1.93	13d	1	1.35mi

HOA detail

• Monthly dues: $610 · $7,320/yr
• Likely covers: waterpool

Listing history 21 events

1. 2026-06-19
   days on market $59,900 Active 147 DOM
2. 2026-06-18
   days on market $59,900 Active 146 DOM
3. 2026-06-17
   days on market $59,900 Active 145 DOM
4. 2026-06-16
   days on market $59,900 Active 144 DOM
5. 2026-06-15
   days on market $59,900 Active 143 DOM
6. 2026-06-14
   days on market $59,900 Active 141 DOM
7. 2026-06-12
   days on market $59,900 Active 140 DOM
8. 2026-06-09
   days on market $59,900 Active 137 DOM
9. 2026-06-08
   days on market $59,900 Active 136 DOM
10. 2026-06-07
    days on market $59,900 Active 135 DOM
11. 2026-06-07
    days on market $59,900 Active 134 DOM
12. 2026-06-04
    days on market $59,900 Active 131 DOM
13. 2026-06-02
    days on market $59,900 Active 130 DOM
14. 2026-06-01
    days on market $59,900 Active 129 DOM
15. 2026-05-31
    days on market $59,900 Active 128 DOM
16. 2026-05-31
    days on market $59,900 Active 127 DOM
17. 2026-03-23
    price $59,900 715-char remark

    Show marketing remark (715 chars)

    Welcome to your beautiful new home in the highly desirable Rancho Estates Mobile Home Park! This spacious 3-bedroom, 2-bathroom home offers a comfortable and functional layout perfect for families of all sizes. Enjoy a bright, open living area filled with natural light, a well-appointed kitchen featuring a water softener and reverse osmosis system, and a cozy dining space. The home also includes solar panels, providing energy efficiency and significant savings during the hot summer months. Rancho Estates is a friendly, well-maintained community offering great amenities, including a community pool perfect for relaxing and social gatherings. This is NOT a 55+ community, making it a great option for all ages.

18. 2026-01-23
    listed $75,000 Active 715-char remark

    Show marketing remark (715 chars)

    Welcome to your beautiful new home in the highly desirable Rancho Estates Mobile Home Park! This spacious 3-bedroom, 2-bathroom home offers a comfortable and functional layout perfect for families of all sizes. Enjoy a bright, open living area filled with natural light, a well-appointed kitchen featuring a water softener and reverse osmosis system, and a cozy dining space. The home also includes solar panels, providing energy efficiency and significant savings during the hot summer months. Rancho Estates is a friendly, well-maintained community offering great amenities, including a community pool perfect for relaxing and social gatherings. This is NOT a 55+ community, making it a great option for all ages.

19. 2025-12-23
    historical
20. 2025-09-15
    price $79,500
21. 2025-06-27
    listed $85,000 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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥116°F today · 20 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: $20,855
• − Mortgage interest: −$3,355
• − Property taxes: −$898
• − Insurance: −$300
• − Repairs & maintenance: −$1,668
• − Management: −$1,668
• − HOA: −$7,320
• − Depreciation: −$1,743
• Taxable income: $3,903
• Est. tax owed @ 24.0%: −$937
• After-tax cash flow: $3,252/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 · 13 photos

Good 75/100 Cosmetic rehab

This well-maintained mobile home in Rancho Estates Mobile Home Park is in good condition with minimal repairs needed. It offers a good return on investment with updates that can significantly increase its value.

Value-add opportunities

• Both Paint the exterior siding — Enhances curb appeal and can increase both resale and rental value.
• Both Replace the kitchen faucet — Improves functionality and aesthetics, attracting more buyers.
• Both Install a new air conditioning unit — Improves comfort and energy efficiency, appealing to both buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior siding — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Replace the kitchen faucet — Improves functionality and aesthetics, attracting more buyers. ↑
• Both Install a new air conditioning unit — Improves comfort and energy efficiency, appealing to both buyers and renters. ↑

ⓘ 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

-29.5% since first listed

5 events — show timeline

• 2026-03-23 Price Changed $59,900 CRMLS
• 2026-01-23 Listed $75,000 CRMLS
• 2025-12-23 Listing Removed — CRMLS
• 2025-09-15 Price Changed $79,500 CRMLS
• 2025-06-27 Listed $85,000 CRMLS