3701 Fillmore St #122 · Riverside, CA 92505

$180,000

2 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 24 Days on market

Built 2003 $134/sqft · at area comps Est $183k · at est.

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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
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• ARV discount +8.3/15.0
• Rent growth +3.6/5.0
• Schools +3.4/10.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Location, Location, Location. This property is close to everything shopping centers, restaurants, & Mexican markets. Close to Fwys 91, and 15, this complex, that has no age restrictions, rarely go on the market. This property has 4 good size bedrooms and 2 bathrooms. Open floor plan with newer flooring and fixtures throughout. Central air and heat. Great covered parking area, and a shed. Lots of pride of ownership is visible throughout the property. It is move in ready and turn key. Complex has a pool and clubhouse, pick nick area.

Key facts

• Community pool
• Built 2003
• Listed 24 days

Property features AI

Finance

• Other: Located on a lot zoned approximately 0–1 unit per acre
• Financial info: Land lease amount $2,000 per month; Special assessments noted
• HOA & community: Land lease community with monthly land lease

Exterior

• Parking: Located in Rancho Riverside park
• Utilities: Public sewer; District/public water
• Home design: Single-story mobile home; Mobile home remains on site
• Construction: Mobile home 60' x 24'; Property recorded as one story; Year built reported by builder
• Exterior features: Community pool; Street lighting

Interior

• Bedrooms: All bedrooms are on the first floor
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating (furnace); Central air conditioning
• Interior features: All bedrooms located on the main level; One-story layout; entry on main level
• Laundry & utility: Laundry in a dedicated room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $180k.

Deal economics

• At list price, monthly cash flow is $992 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $180k).
• Recommended offer: $177k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.9% 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 fast (+4.5%/yr); 63 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 37% of the median local income ($85k/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 $1k of loan paydown is wiped out by about $5k 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 + 4.5% rent growth), your $50k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y 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.
• Current owner paid $95k; list at $180k implies a 89% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $177,300 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.45% ✓
• Cap rate: 12.90%
• Cash-on-cash: 23.61%
• DSCR: 2.05
• GRM: 5.7

CMA / ARV

• ARV (median comp): $183,447
• List price: $180,000
• Delta: -1.88%
• Verdict: FAIR
• Comps: 2 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3701 Fillmore St #32	0.00mi	3/2.0 (+1)	1,254 (-7%)	2mo	$160,000	$128	83
3701 Fillmore St #71	0.00mi	3/2.0 (+1)	1,512 (+12%)	7mo	$210,000	$139	68

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 · 4.47% rent growth · sell at horizon

5-year hold

• IRR: 18.2%
• Equity multiple: 1.75×
• Total profit: $37,858
• Equity at exit: $26,839

10-year hold

• IRR: 27.6%
• Equity multiple: 3.59×
• Total profit: $130,634
• Equity at exit: $15,563

Cash invested: $50,400 (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 92505

• Rents YoY: 4.5%
• Active inventory: 63
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $2,615 high
• Mortgage (P&I): −$944
• Tax from tax record: −$55 /mo · $666/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$549
• Net cashflow: $992

Break-even live

Break-even rent $1,360

Max offer price $180,000

Occupancy floor 57%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11207 Magnolia Ave Riverside, CA	2.0	2.0	1200	$2,250	$1.88	24d	1	0.15mi
11520 Magnolia Ave Riverside, CA	1.0–2.0	1.0–2.0	851	$2,634	$3.09	2d	7	0.26mi
3900 Fir Tree Dr Riverside, CA	1.0–2.0	1.0–2.0	789	$2,695	$3.42	2d	6	0.28mi
11282 Price Ct Riverside, CA	3.0	2.5	1646	$3,095	$1.88	43d	1	0.34mi
3850 Skofstad St Riverside, CA	1.0–2.0	1.0–2.0	880	$2,135	$2.43	24d	2	0.47mi
3957 Pierce St Riverside, CA	1.0–2.0	1.0–2.0	845	$2,795	$3.31	1d	31	0.68mi
4259 Redstar Ct Riverside, CA	3.0	2.0	1178	$3,000	$2.55	20d	1	0.68mi
4259 Redstar Ct Riverside, CA	3.0	2.0	1178	$3,000	$2.55	14d	1	0.68mi
4259 Redstar Ct Riverside, CA	3.0	2.0	1178	$3,000	$2.55	5d	1	0.68mi
4259 Redstar Ct Riverside, CA	3.0	2.0	1178	$3,000	$2.55	24d	1	0.68mi
3411 Grande Vista Pkwy Riverside, CA	2.0	1.0–2.0	982	$2,885	$2.94	2d	10	0.70mi
11249 Heathrow Dr Riverside, CA	3.0	3.0	1421	$2,895	$2.04	2d	1	0.76mi
3874 Polk St Unit F Riverside, CA	2.0	2.0	1211	$2,700	$2.23	14d	1	0.86mi
3944 Polk St Unit B Riverside, CA	3.0	2.5	1481	$3,000	$2.03	4d	1	0.90mi
11309 Rasmussen Ct Riverside, CA	3.0	2.5	1535	$3,225	$2.10	17d	1	0.92mi
3984 Polk St Unit C Riverside, CA	3.0	2.5	1394	$2,795	$2.01	19d	1	0.92mi
10743 Cass St Riverside, CA	3.0	2.0	1228	$2,400	$1.95	1d	1	0.95mi
11711 Collett Ave Riverside, CA	1.0–3.0	1.0–2.0	1018	$3,229	$3.17	1d	21	0.96mi
11377 Brookglen Ct Riverside, CA	3.0	2.5	1532	$3,400	$2.22	24d	1	0.98mi
10601 Diana Ave Riverside, CA	2.0	2.0	964	$1,275	$1.32	2d	3	1.05mi
11331 River Trail Ct Riverside, CA	3.0	2.5	1532	$3,200	$2.09	43d	1	1.08mi
3572 Banbury Dr Riverside, CA	2.0	1.0–2.0	949	$2,212	$2.33	5d	4	1.09mi
3516 Banbury Dr Riverside, CA	1.0–2.0	1.0–2.0	846	$2,250	$2.66	14d	7	1.13mi
4655 Sierra Vista Ave Riverside, CA	2.0–3.0	2.0	1043	$2,536	$2.43	2d	11	1.16mi
4408 Ambs Dr Riverside, CA	3.0	2.0	1470	$3,040	$2.07	43d	1	1.17mi
10566 Hole Ave Riverside, CA	2.0	1.0	925	$2,238	$2.42	5d	14	1.22mi
4725 Sierra Vista Ave Riverside, CA	1.0–2.0	1.0–2.0	785	$2,882	$3.67	3d	10	1.27mi
4635 Mitchell Ave Riverside, CA	2.0	2.0	925	$2,417	$2.61	43d	2	1.29mi
4564 Jones Ave Riverside, CA	2.0	2.0	988	$2,150	$2.18	1d	1	1.34mi
4848 Doane Ave Unit Back House Riverside, CA	3.0	1.0	1000	$2,295	$2.29	24d	1	1.42mi
3262 Winnebago Ln Riverside, CA	3.0	2.0	1732	$3,400	$1.96	43d	1	1.45mi
2930 Via Milano Outside Area (Inside Ca), CA	1.0	2.0	1007	$2,500	$2.48	43d	1	1.47mi

Listing history 13 events

1. 2026-06-08
   days on market $180,000 Active 24 DOM
2. 2026-06-07
   days on market $180,000 Active 23 DOM
3. 2026-06-04
   days on market $180,000 Active 20 DOM
4. 2026-06-03
   days on market $180,000 Active 19 DOM
5. 2026-06-02
   days on market $180,000 Active 18 DOM
6. 2026-06-01
   days on market $180,000 Active 17 DOM
7. 2026-05-31
   days on market $180,000 Active 16 DOM
8. 2026-05-15
   listed $180,000 Active 516-char remark
9. 2020-10-02
   soldstatus $95,000 Closed Sale 543-char remark

   Show marketing remark (543 chars)

   Location, Location, Location. This property is close to everything shopping centers, restaurants, & Mexican markets. Close to Fwys 91, and 15, this complex, that has no age restrictions, rarely go on the market. This property has 4 good size bedrooms and 2 bathrooms. Open floor plan with newer flooring and fixtures throughout. Central air and heat. Great covered parking area, and a shed. Lots of pride of ownership is visible throughout the property. It is move in ready and turn key. Complex has a pool and clubhouse, pick nick area.

10. 2020-08-06
    status Pending Sale 543-char remark

    Show marketing remark (543 chars)

    Location, Location, Location. This property is close to everything shopping centers, restaurants, & Mexican markets. Close to Fwys 91, and 15, this complex, that has no age restrictions, rarely go on the market. This property has 4 good size bedrooms and 2 bathrooms. Open floor plan with newer flooring and fixtures throughout. Central air and heat. Great covered parking area, and a shed. Lots of pride of ownership is visible throughout the property. It is move in ready and turn key. Complex has a pool and clubhouse, pick nick area.

11. 2020-07-08
    status Active 543-char remark

    Show marketing remark (543 chars)

    Location, Location, Location. This property is close to everything shopping centers, restaurants, & Mexican markets. Close to Fwys 91, and 15, this complex, that has no age restrictions, rarely go on the market. This property has 4 good size bedrooms and 2 bathrooms. Open floor plan with newer flooring and fixtures throughout. Central air and heat. Great covered parking area, and a shed. Lots of pride of ownership is visible throughout the property. It is move in ready and turn key. Complex has a pool and clubhouse, pick nick area.

12. 2020-06-20
    historical Active Under Contract 543-char remark

    Show marketing remark (543 chars)

    Location, Location, Location. This property is close to everything shopping centers, restaurants, & Mexican markets. Close to Fwys 91, and 15, this complex, that has no age restrictions, rarely go on the market. This property has 4 good size bedrooms and 2 bathrooms. Open floor plan with newer flooring and fixtures throughout. Central air and heat. Great covered parking area, and a shed. Lots of pride of ownership is visible throughout the property. It is move in ready and turn key. Complex has a pool and clubhouse, pick nick area.

13. 2020-06-01
    listed $99,999 Active 543-char remark

    Show marketing remark (543 chars)

    Location, Location, Location. This property is close to everything shopping centers, restaurants, & Mexican markets. Close to Fwys 91, and 15, this complex, that has no age restrictions, rarely go on the market. This property has 4 good size bedrooms and 2 bathrooms. Open floor plan with newer flooring and fixtures throughout. Central air and heat. Great covered parking area, and a shed. Lots of pride of ownership is visible throughout the property. It is move in ready and turn key. Complex has a pool and clubhouse, pick nick area.

ⓘ 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: $666 · $55/mo
• Projected year-2 tax: $1,368 · $114/mo
• Expected delta: +$702/yr (+$59/mo · 105.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 12% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 7/10 Severe 6 d/yr ≥102°F today · 17 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: $31,385
• − Mortgage interest: −$10,083
• − Property taxes: −$666
• − Insurance: −$900
• − Repairs & maintenance: −$2,511
• − Management: −$2,511
• − Depreciation: −$5,236
• Taxable income: $9,478
• Est. tax owed @ 24.0%: −$2,275
• After-tax cash flow: $9,626/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): 53,419
• Household income: $84,906
• Rent vs Own: 48.5% rent · 51.5% own
• Severe rent burden: 1940.0

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 0.58)
• Race & ethnicity: Hispanic / Latino 60% White 20% Two or more races 17% Asian 10% Black 6% Native American 1%
• Hispanic origin (detail): Mexican 53%
• Common ancestry: Scandinavian 1% Lithuanian 1% Romanian 1%
• Foreign-born: 29% · Canada, Vietnam, South Korea
• Languages at home: 40% English-only · Spanish 47% Other Indo-European 4% 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: ▼ -379.14%
• Current HPI: 405.3408
• Rent YoY: ▲ 4.47%
• 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

+80.0% since first listed

6 events — show timeline

• 2026-05-15 Listed $180,000 CRMLS
• 2020-10-02 Sold (MLS) $95,000 CRMLS
• 2020-08-06 Pending — CRMLS
• 2020-07-08 Relisted — CRMLS
• 2020-06-20 Contingent — CRMLS
• 2020-06-01 Listed $99,999 CRMLS

Property tax history

-2.9%/yr

Latest (2025): $666 · +3.3% YoY. Source: county tax records.