501 W Ramsey St #41 · Banning, CA 92220

$39,000

2 bd · 1.0 ba · 1,220 sqft · Manufactured · 42 Days on market

Built 1956 $32/sqft · 22% below area Est $50k · 22% under ↓ 27% since listing

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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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Livability +2.4/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 2 bedroom 1 bath trailer is situated in an all-ages community park. Buyer to qualify with the park. Conveniently located close to freeway and shopping. * Pictures coming soon *

Key facts

• Built 1956
• Listed 42 days

Property features AI

Finance

• Other: Lot characterized as 0–1 unit per acre; Elevation measured in feet; Directions available to the park
• Financial info: Land lease fee applies
• HOA & community: Located in Banning Mountain View Estates (land lease community); Community has street lighting and sidewalks; Manager approval required; Pets allowed

Exterior

• Parking: No dedicated parking
• Utilities: Public sewer; Public/district water available
• Home design: Mobile home (model CCH); Mobile home remains on site; 16 ft. wide by 76 ft. long; Single story
• Construction: Year built per public records
• Exterior features: No pool

Interior

• Kitchen: Gas cooktop; Gas oven; Dishwasher; Appliances included
• Bathrooms: 1 full bathroom
• Interior features: One-level entry; One-story home; Two or more access exits
• Laundry & utility: Washer hookup in an area; Has laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $39k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $39k).
• Recommended offer: $38k (3.0% below list) — sets the bar for market timing.
• Cap rate 51.2% vs local median 3.0% in Banning — 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 48/100 on livability (#1,192 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing B+; Watch: crime C-, schools F, amenities F.
• Banning Unified (suburban): math 15% / reading 25% proficiency, ranked #1,258 of 1,400 in CA (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.6%/yr); 312 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).
• This rent runs 42% of the median local income ($63k/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 $270 of loan paydown is wiped out by about $1k 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 + 3.6% rent growth), your $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($38k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $32k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $37,830 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 5.61% ✓
• Cap rate: 51.17%
• Cash-on-cash: 160.26%
• DSCR: 8.13
• GRM: 1.5

CMA / ARV

• ARV (median comp): $49,753
• List price: $39,000
• Delta: -21.61%
• Verdict: UNDERPRICED
• Comps: 5 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.58% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 9.05×
• Total profit: $87,881
• Equity at exit: $5,815

10-year hold

• IRR: —
• Equity multiple: 19.46×
• Total profit: $201,593
• Equity at exit: $3,372

Cash invested: $10,920 (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 92220

• Rents YoY: 3.6%
• Active inventory: 312
• Price-to-rent: 1.5×

Monthly cashflow live

• Estimated rent: $2,187 high
• Mortgage (P&I): −$205
• Tax est. 1.5%: −$49 /mo · $585/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$459
• Net cashflow: $1,458

Break-even live

Break-even rent $341

Max offer price $39,000

Occupancy floor 28%

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: $9,750
• Closing costs: $1,170
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
451 Martin St Banning, CA	1.0	1.0	854	$1,845	$2.16	16d	1	0.58mi
180 E Barbour St Unit C Banning, CA	2.0	1.0	924	$1,895	$2.05	24d	1	0.67mi
1949 W Williams St Banning, CA	3.0	2.0	1108	$2,350	$2.12	24d	1	0.87mi
263 N Evans St Unit A Banning, CA	2.0	1.0	835	$1,700	$2.04	43d	1	1.26mi
654 N Allen St Banning, CA	3.0	1.0	1128	$2,200	$1.95	5d	1	1.27mi
943 Wesley St Banning, CA	3.0	2.0	1332	$3,850	$2.89	43d	1	1.28mi
359 Santa Rita Pl Banning, CA	3.0	1.0	1352	$2,200	$1.63	43d	1	1.29mi
271 Park Ave Banning, CA	1.0	1.0	700	$1,700	$2.43	16d	1	1.44mi

Listing history 21 events

1. 2026-06-18
   days on market $39,000 Active 42 DOM
2. 2026-06-17
   days on market $39,000 Active 41 DOM
3. 2026-06-16
   days on market $39,000 Active 40 DOM
4. 2026-06-15
   days on market $39,000 Active 39 DOM
5. 2026-06-13
   days on market $39,000 Active 37 DOM
6. 2026-06-13
   days on market $39,000 Active 36 DOM
7. 2026-06-09
   days on market $39,000 Active 33 DOM
8. 2026-06-08
   days on market $39,000 Active 32 DOM
9. 2026-06-07
   days on market $39,000 Active 31 DOM
10. 2026-06-04
    days on market $39,000 Active 28 DOM
11. 2026-06-03
    days on market $39,000 Active 27 DOM
12. 2026-06-02
    days on market $39,000 Active 26 DOM
13. 2026-06-01
    days on market $39,000 Active 25 DOM
14. 2026-05-31
    days on market $39,000 Active 24 DOM
15. 2026-05-07
    listed $39,000 Active 816-char remark
16. 2025-12-19
    soldstatus $32,000 Closed Sale 181-char remark

    Show marketing remark (181 chars)

    This 2 bedroom 1 bath trailer is situated in an all-ages community park. Buyer to qualify with the park. Conveniently located close to freeway and shopping. * Pictures coming soon *

17. 2025-12-08
    status Pending Sale 181-char remark

    Show marketing remark (181 chars)

    This 2 bedroom 1 bath trailer is situated in an all-ages community park. Buyer to qualify with the park. Conveniently located close to freeway and shopping. * Pictures coming soon *

18. 2025-10-27
    listed $35,000 Active 181-char remark

    Show marketing remark (181 chars)

    This 2 bedroom 1 bath trailer is situated in an all-ages community park. Buyer to qualify with the park. Conveniently located close to freeway and shopping. * Pictures coming soon *

19. 2025-10-22
    historical
20. 2025-08-29
    listed $53,500 Active
21. 2025-08-28
    historical

ⓘ 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 10/10 Extreme
• 🌡 Heat 7/10 Severe 7 d/yr ≥98°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 18 unhealthy d/yr today · 23 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,246
• − Mortgage interest: −$2,185
• − Property taxes: −$585
• − Insurance: −$195
• − Repairs & maintenance: −$2,100
• − Management: −$2,100
• − Depreciation: −$1,135
• Taxable income: $17,948
• Est. tax owed @ 24.0%: −$4,307
• After-tax cash flow: $13,193/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: Banning Unified
• NCES district ID: 0603840
• Math proficiency: 15% ▬ 0.00%
• Reading proficiency: 25% ▼ -1.00%
• Median HH income: $39,303
• Composite: 20.12/100
• National rank: #13850
• State rank: #1258 of 1400 in CA

Livability — Banning

• Score: 48/100
• State rank: #1192
• US rank: #26047

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Banning, CA
• County: Riverside County · 2,287,001 people
• City population: 33,755
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 33,755
• Household income: $62,599
• Rent vs Own: 29.1% rent · 70.9% own
• Severe rent burden: 1146.0

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 0.64)
• Race & ethnicity: Hispanic / Latino 48% White 35% Two or more races 21% Black 6% Asian 5% Native American 4%
• Hispanic origin (detail): Mexican 44%
• Common ancestry: Italian 1% Romanian 1% Portuguese 1%
• Foreign-born: 17% · Canada, South Korea, China
• Languages at home: 65% English-only · Spanish 29% Tagalog/Filipino 1% Other Indo-European 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: ▼ -343.32%
• Current HPI: 342.4268
• Rent YoY: ▲ 3.58%
• 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

-27.1% since first listed

7 events — show timeline

• 2026-05-07 Listed $39,000 CRMLS
• 2025-12-19 Sold (MLS) $32,000 CRMLS
• 2025-12-08 Pending — CRMLS
• 2025-10-27 Listed $35,000 CRMLS
• 2025-10-22 Listing Removed — CRMLS
• 2025-08-29 Listed $53,500 CRMLS
• 2025-08-28 Coming Soon — CRMLS