3500 Buchanan #117 · Riverside, CA 92503

$119,000

2 bd · 2.0 ba · 1,344 sqft · Manufactured · 94 Days on market

Built 1979 $89/sqft · 21% above area Est $99k · 21% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.4/5.0
• Schools +3.4/10.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Look at the newer oversized windows! This unit so well maintained and ready to move into. Two bedrooms and two bathrooms plus a little area with small kitchenette for possibly a caregiver. Everything in this unit feels like home. The new painting, flooring, large living room, family room, formal dining area, and breakfast nook, inside laundry and a shed. The best neighbor, the best park in the area and priced to sell fast.

Key facts

• Breakfast nook
• Small kitchenette
• Large living room

Tags

• OVERSIZED WINDOWS
• SMALL KITCHENETTE
• LARGE LIVING ROOM
• FORMAL DINING AREA
• BREAKFAST NOOK
• INSIDE LAUNDRY

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $119k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $119k).
• Recommended offer: $108k (9.0% below list) — sets the bar for market timing.
• Cap rate 19.9% 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 (+3.4%/yr); 196 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 34% of the median local income ($96k/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 $823 of loan paydown is wiped out by about $4k 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 + 3.4% rent growth), your $33k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 7y 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: severe 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 $108,290 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 2.31% ✓
• Cap rate: 19.88%
• Cash-on-cash: 48.51%
• DSCR: 3.16
• GRM: 3.6

CMA / ARV

• ARV (median comp): $98,521
• List price: $119,000
• Delta: 20.79%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3500 Buchanan #73	0.12mi	2/2.0	1,344 (0%)	2mo	$71,111	$53	93
3500 Buchanan St #230	0.12mi	2/2.0	1,356 (+1%)	3mo	$173,000	$128	91
3700 Buchanan St #105	0.20mi	2/2.0	1,344 (0%)	1mo	$86,000	$64	90
3500 Buchanan #103	0.12mi	3/2.0 (+1)	1,344 (0%)	1mo	$139,900	$104	89
3700 Buchanan St #98	0.20mi	3/2.0 (+1)	1,344 (0%)	2mo	$120,000	$89	84
3500 Buchanan St #21	0.12mi	2/2.0	1,440 (+7%)	3mo	$87,500	$61	80
3663 Buchanan #112	0.31mi	3/2.0 (+1)	1,344 (0%)	1mo	$169,000	$126	80
3500 Buchanan St #128	0.00mi	2/2.0	1,488 (+11%)	3mo	$72,000	$48	80
3700 Buchanan St #132	0.20mi	2/2.0	1,440 (+7%)	2mo	$158,000	$110	77
3500 Buchanan St #30	0.12mi	3/2.0 (+1)	1,440 (+7%)	4mo	$81,095	$56	75
3700 Buchanan St #28	0.20mi	3/2.0 (+1)	1,440 (+7%)	4mo	$80,000	$56	70
3700 Buchanan St #108	0.20mi	3/2.0 (+1)	1,456 (+8%)	3mo	$189,900	$130	70

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 · 3.41% rent growth · sell at horizon

5-year hold

• IRR: 46.5%
• Equity multiple: 3.03×
• Total profit: $67,681
• Equity at exit: $17,743

10-year hold

• IRR: 52.4%
• Equity multiple: 6.23×
• Total profit: $174,271
• Equity at exit: $10,289

Cash invested: $33,320 (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 92503

• Rents YoY: 3.4%
• Active inventory: 196
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $2,746 high
• Mortgage (P&I): −$624
• Tax est. 1.5%: −$149 /mo · $1,785/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$577
• Net cashflow: $1,347

Break-even live

Break-even rent $1,041

Max offer price $119,000

Occupancy floor 46%

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2930 Via Milano Outside Area (Inside Ca), CA	1.0	2.0	1007	$2,500	$2.48	44d	1	0.66mi
3713 Calle Curacso Riverside, CA	3.0	2.5	1300	$3,090	$2.38	44d	1	0.80mi
3713 Calle Curacso Riverside, CA	3.0	2.0	1300	$3,090	$2.38	17d	1	0.80mi
371 Dylan Cir Corona, CA	3.0	2.0	1625	$3,500	$2.15	5d	1	0.84mi
3957 Pierce St Riverside, CA	1.0–2.0	1.0–2.0	845	$2,795	$3.31	2d	31	0.88mi
545 Hamilton Dr Corona, CA	1.0	1.0	900	$1,900	$2.11	24d	1	1.06mi
11520 Magnolia Ave Riverside, CA	1.0–2.0	1.0–2.0	851	$2,634	$3.09	2d	7	1.08mi
2365 Promenade Ave Corona, CA	1.0–2.0	1.0–2.0	892	$2,557	$2.87	2d	18	1.22mi
11711 Collett Ave Riverside, CA	1.0–3.0	1.0–2.0	1018	$3,229	$3.17	2d	21	1.25mi
13370 Magnolia Ave Corona, CA	3.0	2.0	900	$2,450	$2.72	44d	1	1.30mi
4408 Ambs Dr Riverside, CA	3.0	2.0	1470	$3,040	$2.07	44d	1	1.34mi
11282 Price Ct Riverside, CA	3.0	2.5	1646	$3,095	$1.88	44d	1	1.43mi
2235 Treehouse Ln Corona, CA	1.0–2.0	1.0–2.0	886	$2,770	$3.12	2d	17	1.45mi
11207 Magnolia Ave Riverside, CA	2.0	2.0	1200	$2,250	$1.88	24d	1	1.47mi
3827 Grant St #54 Corona, CA	3.0	2.5	1354	$3,250	$2.40	5d	1	1.48mi

Listing history 36 events

1. 2026-06-18
   days on market $119,000 Active 94 DOM
2. 2026-06-17
   days on market $119,000 Active 93 DOM
3. 2026-06-16
   days on market $119,000 Active 92 DOM
4. 2026-06-15
   days on market $119,000 Active 91 DOM
5. 2026-06-13
   days on market $119,000 Active 89 DOM
6. 2026-06-13
   days on market $119,000 Active 88 DOM
7. 2026-06-09
   days on market $119,000 Active 85 DOM
8. 2026-06-08
   days on market $119,000 Active 84 DOM
9. 2026-06-07
   days on market $119,000 Active 83 DOM
10. 2026-06-04
    days on market $119,000 Active 80 DOM
11. 2026-06-03
    days on market $119,000 Active 79 DOM
12. 2026-06-02
    days on market $119,000 Active 78 DOM
13. 2026-06-01
    days on market $119,000 Active 77 DOM
14. 2026-05-31
    days on market $119,000 Active 76 DOM
15. 2026-03-16
    listed $119,000 Active 426-char remark

    Show marketing remark (426 chars)

    Look at the newer oversized windows! This unit so well maintained and ready to move into. Two bedrooms and two bathrooms plus a little area with small kitchenette for possibly a caregiver. Everything in this unit feels like home. The new painting, flooring, large living room, family room, formal dining area, and breakfast nook, inside laundry and a shed. The best neighbor, the best park in the area and priced to sell fast.

16. 2025-02-28
    soldstatus $115,000 Closed Sale 310-char remark

    Show marketing remark (310 chars)

    Great senior(55+) mobile home is for sale. This unit is clean and maintained in excellent condition. Absolute turn key 2 beds and 2 baths. New windows, AC, flooring, and gas stove. Formal dining room and family room. Gated community and great location. Close to 91 freeway, shopping centers, schools and parks.

17. 2025-02-19
    status Pending Sale 310-char remark

    Show marketing remark (310 chars)

    Great senior(55+) mobile home is for sale. This unit is clean and maintained in excellent condition. Absolute turn key 2 beds and 2 baths. New windows, AC, flooring, and gas stove. Formal dining room and family room. Gated community and great location. Close to 91 freeway, shopping centers, schools and parks.

18. 2025-01-29
    historical Active Under Contract 310-char remark

    Show marketing remark (310 chars)

    Great senior(55+) mobile home is for sale. This unit is clean and maintained in excellent condition. Absolute turn key 2 beds and 2 baths. New windows, AC, flooring, and gas stove. Formal dining room and family room. Gated community and great location. Close to 91 freeway, shopping centers, schools and parks.

19. 2025-01-29
    price $115,000 310-char remark

    Show marketing remark (310 chars)

    Great senior(55+) mobile home is for sale. This unit is clean and maintained in excellent condition. Absolute turn key 2 beds and 2 baths. New windows, AC, flooring, and gas stove. Formal dining room and family room. Gated community and great location. Close to 91 freeway, shopping centers, schools and parks.

20. 2025-01-27
    status Active 310-char remark

    Show marketing remark (310 chars)

    Great senior(55+) mobile home is for sale. This unit is clean and maintained in excellent condition. Absolute turn key 2 beds and 2 baths. New windows, AC, flooring, and gas stove. Formal dining room and family room. Gated community and great location. Close to 91 freeway, shopping centers, schools and parks.

21. 2025-01-27
    price $112,500 310-char remark

    Show marketing remark (310 chars)

    Great senior(55+) mobile home is for sale. This unit is clean and maintained in excellent condition. Absolute turn key 2 beds and 2 baths. New windows, AC, flooring, and gas stove. Formal dining room and family room. Gated community and great location. Close to 91 freeway, shopping centers, schools and parks.

22. 2025-01-16
    historical Active Under Contract 310-char remark

    Show marketing remark (310 chars)

    Great senior(55+) mobile home is for sale. This unit is clean and maintained in excellent condition. Absolute turn key 2 beds and 2 baths. New windows, AC, flooring, and gas stove. Formal dining room and family room. Gated community and great location. Close to 91 freeway, shopping centers, schools and parks.

23. 2024-11-08
    price $125,000 310-char remark

    Show marketing remark (310 chars)

    Great senior(55+) mobile home is for sale. This unit is clean and maintained in excellent condition. Absolute turn key 2 beds and 2 baths. New windows, AC, flooring, and gas stove. Formal dining room and family room. Gated community and great location. Close to 91 freeway, shopping centers, schools and parks.

24. 2024-10-17
    price $139,000 310-char remark

    Show marketing remark (310 chars)

    Great senior(55+) mobile home is for sale. This unit is clean and maintained in excellent condition. Absolute turn key 2 beds and 2 baths. New windows, AC, flooring, and gas stove. Formal dining room and family room. Gated community and great location. Close to 91 freeway, shopping centers, schools and parks.

25. 2024-09-20
    listed $149,000 Active 310-char remark

    Show marketing remark (310 chars)

    Great senior(55+) mobile home is for sale. This unit is clean and maintained in excellent condition. Absolute turn key 2 beds and 2 baths. New windows, AC, flooring, and gas stove. Formal dining room and family room. Gated community and great location. Close to 91 freeway, shopping centers, schools and parks.

26. 2020-10-30
    soldstatus $53,000 Closed Sale
27. 2020-09-06
    historical Active Under Contract
28. 2020-08-05
    listed $59,900 Active
29. 2020-08-04
    historical
30. 2020-06-12
    price $59,900
31. 2020-02-05
    listed $65,000 Active
32. 2019-11-15
    historical
33. 2019-09-16
    status Active
34. 2019-08-06
    status Pending Sale
35. 2019-07-16
    price $58,000
36. 2019-04-11
    listed $60,000 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 X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 8/10 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: $32,951
• − Mortgage interest: −$6,666
• − Property taxes: −$1,785
• − Insurance: −$595
• − Repairs & maintenance: −$2,636
• − Management: −$2,636
• − Depreciation: −$3,462
• Taxable income: $15,171
• Est. tax owed @ 24.0%: −$3,641
• After-tax cash flow: $12,522/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): 88,395
• Household income: $96,268
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 2337.0

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 0.57)
• Race & ethnicity: Hispanic / Latino 61% White 24% Two or more races 15% Asian 8% Black 4%
• Hispanic origin (detail): Mexican 52%
• Common ancestry: Lithuanian 1% Italian 1% Slovak 1%
• Foreign-born: 27% · Canada, Vietnam, South Korea
• Languages at home: 44% English-only · Spanish 45% Other Indo-European 2% Tagalog/Filipino 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: ▼ -414.52%
• Current HPI: 393.407
• Rent YoY: ▲ 3.41%
• 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

+98.3% since first listed

22 events — show timeline

• 2026-03-16 Listed $119,000 CRMLS
• 2025-02-28 Sold (MLS) $115,000 CRMLS
• 2025-02-19 Pending — CRMLS
• 2025-01-29 Contingent — CRMLS
• 2025-01-29 Price Changed $115,000 CRMLS
• 2025-01-27 Relisted — CRMLS
• 2025-01-27 Price Changed $112,500 CRMLS
• 2025-01-16 Contingent — CRMLS
• 2024-11-08 Price Changed $125,000 CRMLS
• 2024-10-17 Price Changed $139,000 CRMLS
• 2024-09-20 Listed $149,000 CRMLS
• 2020-10-30 Sold (MLS) $53,000 CRMLS
• 2020-09-06 Contingent — CRMLS
• 2020-08-05 Listed $59,900 CRMLS
• 2020-08-04 Listing Removed — CRMLS
• 2020-06-12 Price Changed $59,900 CRMLS
• 2020-02-05 Listed $65,000 CRMLS
• 2019-11-15 Listing Removed — CRMLS
• 2019-09-16 Relisted — CRMLS
• 2019-08-06 Pending — CRMLS
• 2019-07-16 Price Changed $58,000 CRMLS
• 2019-04-11 Listed $60,000 CRMLS