601 N Kirby Ave #534 · Hemet, CA 92545

$75,000

2 bd · 2.0 ba · 1,536 sqft · Manufactured public records · 28 Days on market

Built 1984 Est $74k · 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +6.7/15.0
• Rent growth +3.4/5.0
• Livability +2.6/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

ON THE FAIRWAY!!! LOVELY HOME WITH FREE GOLF!!! This home has NEWER heat, NEWER air, composition roof, custom WORKSHOP shed, NEWER kitchen sink with filter system, NEWER family room cabinetry, 2 custom showers, NEWER refrigerator, NEWER oven, NEWER dishwasher, washer/dryer, 3 security doors, DUAL PANE windows, 4 ceiling fans, and much more. This home is located in a senior 55+ community. Potential buyer shall make an offer before park approval can begin.

Key facts

• Fitness center
• Clubhouse
• Community pool

Tags

• GOLF COURSE COMMUNITY
• COMMUNITY POOL
• CLUBHOUSE
• FITNESS CENTER
• GOLF COURSE VIEWS

Property features AI

Finance

• Other: Living area source: assessor's data; Lot size estimated; Elevation units in feet; Property located near N Sanderson Ave & W Menlo Ave (latitude 33.755938, longitude -117.002216)
• HOA & community: Senior community; Manager approval may be required; Pet policy: call for details; Land lease (approximately $1,100)

Exterior

• Parking: Located in Colonial Country park
• Utilities: Public sewer; District/public water
• Home design: Single-story property; Mobile home remains (24' x 60')
• Construction: Year built per assessor
• Exterior features: Community pool; Close to clubhouse; Golf course community; Sidewalks

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (furnace); Central cooling
• Interior features: One-level home; South-facing entry
• Laundry & utility: Laundry inside the unit

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $75k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $74k (1.5% below list) — sets the bar for market timing.
• Cap rate 26.7% vs local median 4.9% in Hemet — 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 51/100 on livability (#1,056 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: crime D+, schools F, amenities F.
• Hemet Unified (suburban): math 19% / reading 41% proficiency, ranked #360 of 517 in CA (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.7%/yr); 290 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 41% of the median local income ($64k/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 $519 of loan paydown is wiped out by about $2k 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 + 3.7% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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 $58k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 5→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $73,875 (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. 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?
3. 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?
4. 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.
5. 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.
6. 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: 2.90% ✓
• Cap rate: 26.67%
• Cash-on-cash: 72.76%
• DSCR: 4.24
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $73,728
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
601 N Kirby St #501	0.00mi	2/2.0	1,440 (-6%)	0mo	$49,000	$34	89
601 Kirby St N #451	0.02mi	2/2.0	1,440 (-6%)	0mo	$60,000	$42	89
601 Kirby St N #235	0.00mi	2/2.0	1,440 (-6%)	3mo	$84,000	$58	87
601 N Kirby St #67	0.00mi	2/2.0	1,440 (-6%)	6mo	$73,000	$51	85
601 N Kirby St #220	0.00mi	2/2.0	1,440 (-6%)	6mo	$38,500	$27	85
601 N Kirby St #159	0.04mi	3/2.0 (+1)	1,440 (-6%)	5mo	$69,000	$48	79
601 N Kirby #269	0.00mi	3/2.0 (+1)	1,652 (+8%)	6mo	$105,000	$64	78
601 N Kirby #177	0.21mi	2/2.0	1,344 (-12%)	1mo	$10,000	$7	69
1895 W Devonshire #20	0.75mi	2/2.0	1,344 (-12%)	1mo	$44,000	$33	44
1895 W Devonshire Ave #76	0.75mi	2/2.0	1,344 (-12%)	4mo	$55,000	$41	42
1895 W Devonshire Ave #74	0.75mi	3/2.0 (+1)	1,344 (-12%)	2mo	$80,000	$60	38
1895 W Devonshire Ave #148	0.75mi	3/2.0 (+1)	1,344 (-12%)	6mo	$87,500	$65	34

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 · 3.74% rent growth · sell at horizon

5-year hold

• IRR: 73.3%
• Equity multiple: 4.36×
• Total profit: $70,561
• Equity at exit: $11,183

10-year hold

• IRR: 77.3%
• Equity multiple: 9.22×
• Total profit: $172,610
• Equity at exit: $6,485

Cash invested: $21,000 (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 92545

• Home prices YoY: -24.6%
• Rents YoY: 3.7%
• Active inventory: 290
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $2,174 high
• Mortgage (P&I): −$393
• Tax from tax record: −$20 /mo · $238/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$457
• Net cashflow: $1,273

Break-even live

Break-even rent $563

Max offer price $75,000

Occupancy floor 36%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
743 Via Linda Dr Hemet, CA	2.0	2.0	1206	$1,995	$1.65	5d	1	0.28mi
811 Alondra Dr Hemet, CA	2.0	2.0	1166	$1,875	$1.61	5d	1	0.31mi
853 Ensenada Dr Hemet, CA	2.0	2.0	1350	$1,875	$1.39	24d	1	0.36mi
853 Ensenada Dr Hemet, CA	2.0	2.0	1350	$1,875	$1.39	12d	1	0.36mi
3471 Dublin Ct Hemet, CA	3.0	2.0	1276	$2,895	$2.27	4d	1	0.37mi
2014 Iris Way Hemet, CA	3.0	2.0	1192	$2,850	$2.39	43d	1	0.64mi
3800 W Devonshire Ave Hemet, CA	3.0	1.0–2.0	816	$2,055	$2.52	1d	8	0.64mi
2208 El Grande St Hemet, CA	2.0	2.0	1327	$2,100	$1.58	18d	1	0.67mi
1700 Walden Ln Hemet, CA	3.0	2.0	1430	$2,670	$1.87	24d	1	0.77mi
3030 W Acacia Ave Hemet, CA	1.0–3.0	1.0–2.0	892	$1,895	$2.12	1d	10	0.79mi
543 La Cresta Dr Hemet, CA	2.0	2.0	1544	$1,595	$1.03	43d	1	0.80mi
1245 Millie Dr Hemet, CA	3.0	2.0	1392	$2,850	$2.05	7d	1	0.83mi
663 Mariposa Dr Hemet, CA	2.0	2.0	1440	$1,500	$1.04	24d	1	0.96mi
2098 W Acacia Ave Hemet, CA	1.0–3.0	1.0–2.0	895	$2,035	$2.27	1d	1	0.96mi
1315 W Latham Ave Hemet, CA	3.0	2.5	1340	$2,550	$1.90	43d	1	1.11mi
828 Coramdeo Ct Hemet, CA	3.0	2.0	1543	$3,000	$1.94	43d	1	1.12mi
4400 W Florida Ave Unit 86 Hemet, CA	3.0	2.0	1310	$1,800	$1.37	43d	1	1.15mi
4400 W Florida Ave Spc 26 Hemet, CA	3.0	2.0	1193	$1,699	$1.42	15d	1	1.18mi
1967 Connor Ln San Jacinto, CA	3.0	2.5	1708	$2,950	$1.73	7d	1	1.28mi
1850 Amberwood Dr Hemet, CA	2.0	2.0	1170	$1,561	$1.33	43d	1	1.29mi
471 Whitney Dr Hemet, CA	2.0	2.0	1085	$1,800	$1.66	5d	1	1.30mi
683 Jonquil St Hemet, CA	3.0	2.0	1150	$2,448	$2.13	24d	1	1.33mi
1844 Paradise Way San Jacinto, CA	3.0	2.0	1540	$3,000	$1.95	43d	1	1.34mi
914 Haviture Way Hemet, CA	3.0	2.0	1935	$2,900	$1.50	1d	1	1.47mi
828 Greenwich Ct Hemet, CA	3.0	3.0	1977	$2,700	$1.37	18d	1	1.49mi

Listing history 21 events

1. 2026-06-18
   days on market $75,000 Active 28 DOM
2. 2026-06-17
   days on market $75,000 Active 27 DOM
3. 2026-06-16
   days on market $75,000 Active 26 DOM
4. 2026-06-15
   days on market $75,000 Active 25 DOM
5. 2026-06-13
   days on market $75,000 Active 23 DOM
6. 2026-06-09
   days on market $75,000 Active 19 DOM
7. 2026-06-08
   days on market $75,000 Active 18 DOM
8. 2026-06-07
   days on market $75,000 Active 17 DOM
9. 2026-06-04
   days on market $75,000 Active 14 DOM
10. 2026-06-03
    days on market $75,000 Active 13 DOM
11. 2026-06-02
    days on market $75,000 Active 12 DOM
12. 2026-06-01
    days on market $75,000 Active 11 DOM
13. 2026-05-31
    days on market $75,000 Active 10 DOM
14. 2026-05-21
    listed $75,000 Active
15. 2025-12-12
    historical
16. 2025-06-06
    price $88,000
17. 2025-03-28
    price $93,000
18. 2025-02-21
    listed $95,000 Active
19. 2022-09-09
    soldstatus $57,500 Closed Sale 460-char remark

    Show marketing remark (460 chars)

    ON THE FAIRWAY!!! LOVELY HOME WITH FREE GOLF!!! This home has NEWER heat, NEWER air, composition roof, custom WORKSHOP shed, NEWER kitchen sink with filter system, NEWER family room cabinetry, 2 custom showers, NEWER refrigerator, NEWER oven, NEWER dishwasher, washer/dryer, 3 security doors, DUAL PANE windows, 4 ceiling fans, and much more. This home is located in a senior 55+ community. Potential buyer shall make an offer before park approval can begin.

20. 2022-08-16
    status Pending Sale 460-char remark

    Show marketing remark (460 chars)

    ON THE FAIRWAY!!! LOVELY HOME WITH FREE GOLF!!! This home has NEWER heat, NEWER air, composition roof, custom WORKSHOP shed, NEWER kitchen sink with filter system, NEWER family room cabinetry, 2 custom showers, NEWER refrigerator, NEWER oven, NEWER dishwasher, washer/dryer, 3 security doors, DUAL PANE windows, 4 ceiling fans, and much more. This home is located in a senior 55+ community. Potential buyer shall make an offer before park approval can begin.

21. 2022-06-16
    listed $62,500 Active 460-char remark

    Show marketing remark (460 chars)

    ON THE FAIRWAY!!! LOVELY HOME WITH FREE GOLF!!! This home has NEWER heat, NEWER air, composition roof, custom WORKSHOP shed, NEWER kitchen sink with filter system, NEWER family room cabinetry, 2 custom showers, NEWER refrigerator, NEWER oven, NEWER dishwasher, washer/dryer, 3 security doors, DUAL PANE windows, 4 ceiling fans, and much more. This home is located in a senior 55+ community. Potential buyer shall make an offer before park approval can begin.

ⓘ 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: $238 · $20/mo
• Projected year-2 tax: $570 · $48/mo
• Expected delta: +$332/yr (+$28/mo · 139.6%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 7/10 Severe 5 d/yr ≥104°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 12 unhealthy d/yr today · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,091
• − Mortgage interest: −$4,201
• − Property taxes: −$238
• − Insurance: −$375
• − Repairs & maintenance: −$2,087
• − Management: −$2,087
• − Depreciation: −$2,182
• Taxable income: $14,921
• Est. tax owed @ 24.0%: −$3,581
• After-tax cash flow: $11,698/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: Hemet Unified
• NCES district ID: 0616920
• Math proficiency: 19% ▼ -3.00%
• Reading proficiency: 41% ▲ 4.00%
• Median HH income: $39,962
• Composite: 25.16/100
• National rank: #7517
• State rank: #360 of 517 in CA

Livability — Hemet

• Score: 51/100
• State rank: #1056
• US rank: #25208

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hemet, CA
• County: Riverside County · 2,287,001 people
• City population: 137,670
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 45,982
• Household income: $63,770
• Rent vs Own: 28.8% rent · 71.2% own
• Severe rent burden: 1813.0

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 0.65)
• Race & ethnicity: Hispanic / Latino 46% White 35% Two or more races 17% Black 8% Asian 5% Native American 1%
• Hispanic origin (detail): Mexican 40%
• Common ancestry: Slovak 2% Lithuanian 2% Portuguese 1%
• Foreign-born: 19% · Canada, Vietnam, Jamaica
• Languages at home: 69% English-only · Spanish 27% 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: ▼ -116.25%
• Current HPI: 356.9414
• Rent YoY: ▲ 3.74%
• 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

+20.0% since first listed

8 events — show timeline

• 2026-05-21 Listed $75,000 CRMLS
• 2025-12-12 Listing Removed — CRMLS
• 2025-06-06 Price Changed $88,000 CRMLS
• 2025-03-28 Price Changed $93,000 CRMLS
• 2025-02-21 Listed $95,000 CRMLS
• 2022-09-09 Sold (MLS) $57,500 CRMLS
• 2022-08-16 Pending — CRMLS
• 2022-06-16 Listed $62,500 CRMLS

Property tax history

-4.8%/yr

Latest (2025): $238 · +2.7% YoY. Source: county tax records.