36563 Frangipani Dr · French Valley, CA 92596

$605,335

5 bd · 3.0 ba · 2,149 sqft · SingleFamily · 19 Days on market

Built 2026 Good condition

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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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +6.8/30.0
• Schools +5.7/10.0
• Condition / age +4.0/5.0
• Livability +3.0/5.0
• Rent growth +2.3/5.0
• 1% rule +1.8/10.0
• DSCR +1.0/10.0

Listing remarks

This new two-story townhome delivers modern flexibility with a first-floor bedroom and full bathroom-perfect for overnight guests, aging parents or anyone who appreciates main-level living. The first floor centers around an inviting Great Room that connects naturally with the dining area and kitchen, creating an ideal space for family gatherings and entertaining. The second floor is host to a tranquil owner's suite featuring luxurious bathroom and walk-in closet, plus three additional bedrooms. A versatile loft provides bonus space for play, study or relaxation.

Key facts

• Full bathroom
• Kitchen
• Dining area

Tags

• FIRST FLOOR BEDROOM
• FULL BATHROOM
• GREAT ROOM
• DINING AREA
• KITCHEN
• OWNER'S SUITE

Property features AI

Finance

• Financial info: List price $605,335

Exterior

• Parking: 2-car garage (total 2 parking spaces)
• Home design: Single-family residence, Residence Three plan; Spec inventory
• Exterior features: Address: 36563 Frangipani Dr, Winchester, CA 92596

Interior

• Bedrooms: 5 bedrooms
• Bathrooms: 3 full bathrooms
• Interior features: Spec home (Residence Three plan); Living area approximately 2,149

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $605k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-951 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $468k (22.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $409k (32.4% below list).
• Recommended offer: $409k (32.4% below list) — sets the bar for 1% rule.
• Cap rate 4.4% vs local median 3.5% in French Valley — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 59/100 on livability (#655 in CA) — a working-class tenant base; expect higher turnover. Strengths: employment A+, housing A+; Watch: crime D-, amenities F, commute F.
• Temecula Valley Unified (urban): math 55% / reading 69% proficiency, ranked #173 of 1,400 in CA (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Susan La Vorgna Elementary (810 students, 27% FRL); Bella Vista Middle (1,396 students, 26% FRL); Chaparral High (3,030 students, 27% FRL).
• Market conditions: Rents soft (-0.8%/yr); 353 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).
• This rent runs 37% of the median local income ($133k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $65k of equity ($4k loan paydown + $61k appreciation (10.0% local appreciation)).
• Riverside County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$104k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($596k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 8→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $409,148 (32.4% 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. Crime grade is D 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?
5. 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?
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: 0.68% ✗
• Cap rate: 4.41%
• Cash-on-cash: -6.73%
• DSCR: 0.70
• GRM: 12.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 18.7%
• Equity multiple: 2.52×
• Total profit: $257,179
• Equity at exit: $545,334

10-year hold

• IRR: 16.9%
• Equity multiple: 5.62×
• Total profit: $783,637
• Equity at exit: $1,176,033

Cash invested: $169,494 (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 92596

• Home prices YoY: 3.9%
• Rents YoY: -0.8%
• Active inventory: 353
• Price-to-rent: 12.3×

Monthly cashflow live

• Estimated rent: $4,091 medium
• Mortgage (P&I): −$3,174
• Tax est. 1.5%: −$757 /mo · $9,080/yr
• Insurance: −$252
• HOA: −$0
• Vacancy / Maint / Mgmt: −$859
• Net cashflow: $-951

Break-even live

Break-even rent $5,295

Max offer price $467,714

Occupancy floor —

Sensitivity live

Price	-10% $-533	-5% $-742	+0% $-951	+5% $-1,160	+10% $-1,369
Rent	-10% $-1,274	-5% $-1,113	+0% $-951	+5% $-789	+10% $-628
Rate	-1.0pp $-646	-0.5pp $-797	base $-951	+0.5pp $-1,108	+1.0pp $-1,267

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: $151,334
• Closing costs: $18,160
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
32907 Cambury Pl Winchester, CA	5.0	4.0	2641	$3,795	$1.44	0d	1	1.28mi

Listing history 12 events

1. 2026-06-21
   days on market $605,335 Active 19 DOM
2. 2026-06-18
   days on market $605,335 Active 16 DOM
3. 2026-06-17
   days on market $605,335 Active 15 DOM
4. 2026-06-16
   days on market $605,335 Active 14 DOM
5. 2026-06-15
   days on market $605,335 Active 13 DOM
6. 2026-06-13
   days on market $605,335 Active 11 DOM
7. 2026-06-09
   days on market $605,335 Active 7 DOM
8. 2026-06-08
   days on market $605,335 Active 6 DOM
9. 2026-06-07
   days on market $605,335 Active 5 DOM
10. 2026-06-04
    days on market $605,335 Active 2 DOM
11. 2026-06-02
    remarks 568-char remark
12. 2026-06-02
    listed $605,335 Active 1 DOM

ⓘ 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 8 d/yr ≥104°F today · 25 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $49,098
• − Mortgage interest: −$33,908
• − Property taxes: −$9,080
• − Insurance: −$3,027
• − Repairs & maintenance: −$3,928
• − Management: −$3,928
• − Depreciation: −$17,610
• Taxable loss: −$22,382
• Est. tax savings @ 24.0%: +$5,372
• After-tax cash flow: $-6,041/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 · 12 photos

Good 80/100 None rehab

This modern two-story townhome is in excellent condition with no visible repairs needed. It offers a great layout with a first-floor bedroom and full bathroom, making it perfect for overnight guests or main-level living. The home has a good curb appeal and is ready for a fresh paint job and some minor updates to increase its value.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Updating the flooring to a more modern style — New flooring can improve the overall look and feel of the home.
• Both Adding smart home features — Smart home features can increase both resale and rental value by making the home more convenient and appealing to potential buyers/tenants.
• Both Upgrading the kitchen appliances — Modern appliances can make the kitchen more functional and attractive to potential buyers/tenants.
• Both Adding a smart thermostat — A smart thermostat can improve energy efficiency and comfort, making the home more attractive to potential buyers/tenants.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Updating the flooring to a more modern style — New flooring can improve the overall look and feel of the home. ↑
• Both Adding smart home features — Smart home features can increase both resale and rental value by making the home more convenient and appealing to potential buyers/tenants. ↑
• Both Upgrading the kitchen appliances — Modern appliances can make the kitchen more functional and attractive to potential buyers/tenants. ↑
• Both Adding a smart thermostat — A smart thermostat can improve energy efficiency and comfort, making the home more attractive to potential buyers/tenants. ↑

ⓘ 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: Temecula Valley Unified
• NCES district ID: 0600028
• Math proficiency: 55% ▲ 1.00%
• Reading proficiency: 69% ▲ 1.00%
• Median HH income: $84,032
• Composite: 57.48/100
• National rank: #2264
• State rank: #173 of 1400 in CA

Livability — French Valley

• Score: 59/100
• State rank: #655
• US rank: #20351

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Riverside County · 2,287,001 people
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 38,981
• Household income: $132,538
• Rent vs Own: 16.1% rent · 83.9% own
• Severe rent burden: 591.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 38% Hispanic / Latino 34% Two or more races 16% Asian 12% Black 6% Pacific Islander 2%
• Hispanic origin (detail): Mexican 29%
• Common ancestry: Slovak 3% Italian 2% Portuguese 1%
• Foreign-born: 14% · Canada, Vietnam
• Languages at home: 76% English-only · Spanish 16% Tagalog/Filipino 4% Vietnamese 1%

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: ▲ 12.43%
• Current HPI: 332.169
• Rent YoY: ▼ -0.79%
• 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