26560 Greenvale Way

Desert Center, CA 92239

$191,000C+

4 bd · 2.0 ba · 1,861 sqft · Built 1968 · SingleFamily · Active · 193 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,871/mo
• Mortgage (P&I): −$1,002
• Tax + insurance: −$224
• HOA: −$0
• Vac / Maint / Mgmt: −$393
• Net cashflow: $252/mo
• Annual: $3,023/yr
• Cap rate: 7.88%
• Cash-on-cash: 5.65%
• DSCR: 1.25
• 1% rule: 0.98%
• Cash to close: $53,480

Investor read

• This is a 4-bed/2.0-bath single-family listed at $191k.
• At list price, monthly cash flow is $252 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $187k (2.1% below list).
• It's been on market 193 days — a 12% lower offer ($168k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $168k (12.0% below list) — sets the bar for market timing.
• In year one you build about $7k of equity ($1k loan paydown + $6k appreciation (3.0% local appreciation)).
• Location reads 53/100 on livability (#984 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A-, cost of living B+; Watch: employment D, schools F, crime F.
• Market conditions: 34 active listings in the ZIP; 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).
• 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 $53k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 6→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 193 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.