5001 W Florida Ave #32 · Hemet, CA 92543

$59,900

2 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 22 Days on market

Built 1978 $45/sqft · 20% below area Est $75k · 20% under ↓ 18% since listing

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +2.9/5.0
• Livability +2.6/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this well-maintained 1,344 square foot manufactured home located within the desirable 55+ community of The Lakes at Hemet West. Featuring 2 bedrooms and 2 bathrooms, this inviting home offers a spacious and functional floor plan designed for comfortable everyday living. Recent improvements include a brand-new roof, providing added value and peace of mind. The home features bright living spaces, a generously sized primary suite, and flexible living areas ideal for relaxing or entertaining. Residents of The Lakes at Hemet West enjoy access to exceptional resort-style amenities including a 9-hole golf course, heated pool and spa, clubhouse, pickleball courts, bocce ball courts, and

Key facts

• 2 parking spots
• Community pool
• Built 1978

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $60k.

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 $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• Cap rate 31.5% 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 (+1.8%/yr); 264 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).
• At $2,039/mo this rent would consume 50% of the median local household income ($49k/yr) (locally 2144% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $414 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 + 1.8% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 3→9/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $59,001 (1.5% below list)

Questions for the listing agent

1. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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. 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: 3.40% ✓
• Cap rate: 31.50%
• Cash-on-cash: 90.02%
• DSCR: 5.01
• GRM: 2.4

CMA / ARV

• ARV (median comp): $75,021
• List price: $59,900
• Delta: -16.02%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5001 W Florida #618	0.29mi	2/2.0	1,344 (0%)	4mo	$70,000	$52	84
5001 W Florida Ave W #728	0.29mi	2/2.0	1,344 (0%)	4mo	$56,000	$42	83
5001 W Florida Ave #122	0.36mi	2/2.0	1,296 (-4%)	0mo	$52,500	$41	77
5001 W Florida #171	0.29mi	2/2.0	1,440 (+7%)	1mo	$67,000	$47	74
5001 FLORIDA #311	0.29mi	2/2.0	1,440 (+7%)	1mo	$73,990	$51	74
5001 W Florida Ave #305	0.29mi	2/2.0	1,440 (+7%)	2mo	$91,000	$63	73
5001 W Florida #661	0.29mi	2/2.0	1,440 (+7%)	3mo	$97,000	$67	72
5001 W Florida Ave #482	0.29mi	2/2.0	1,440 (+7%)	4mo	$55,000	$38	71
5001 W Florida Ave #163	0.29mi	2/2.0	1,440 (+7%)	6mo	$50,000	$35	70
5001 W Florida #695	0.36mi	2/2.0	1,248 (-7%)	5mo	$45,000	$36	67
5001 W Florida #524	0.29mi	2/2.0	1,488 (+11%)	3mo	$62,000	$42	66
5001 W Florida Ave #135	0.36mi	2/2.0	1,504 (+12%)	5mo	$55,000	$37	59

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 · 1.76% rent growth · sell at horizon

5-year hold

• IRR: 89.3%
• Equity multiple: 5.05×
• Total profit: $67,909
• Equity at exit: $8,931

10-year hold

• IRR: 92.0%
• Equity multiple: 10.08×
• Total profit: $152,236
• Equity at exit: $5,179

Cash invested: $16,772 (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 92543

• Home prices YoY: -26.7%
• Rents YoY: 1.8%
• Active inventory: 264
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $2,039 high
• Mortgage (P&I): −$314
• Tax from tax record: −$14 /mo · $164/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$428
• Net cashflow: $1,258

Break-even live

Break-even rent $447

Max offer price $59,900

Occupancy floor 33%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4400 W Florida Ave Spc 26 Hemet, CA	3.0	2.0	1193	$1,699	$1.42	15d	1	0.62mi
4400 W Florida Ave Unit 86 Hemet, CA	3.0	2.0	1310	$1,800	$1.37	44d	1	0.65mi
2971 Pembroke Ave Hemet, CA	3.0	2.0	1572	$3,000	$1.91	18d	1	1.01mi
3030 W Acacia Ave Hemet, CA	1.0–3.0	1.0–2.0	892	$1,895	$2.12	2d	10	1.11mi
3800 W Devonshire Ave Hemet, CA	3.0	1.0–2.0	816	$2,055	$2.52	2d	8	1.13mi
683 Jonquil St Hemet, CA	3.0	2.0	1150	$2,448	$2.13	24d	1	1.30mi
1354 Jasmine Way Hemet, CA	2.0	2.0	1440	$1,650	$1.15	44d	1	1.37mi
2469 W Acacia Ave Hemet, CA	2.0	2.0	910	$1,750	$1.92	24d	1	1.39mi
2403 W Acacia Ave Hemet, CA	2.0	2.0	910	$1,995	$2.19	8d	1	1.41mi
3471 Dublin Ct Hemet, CA	3.0	2.0	1276	$2,895	$2.27	4d	1	1.44mi

Listing history 18 events

1. 2026-06-18
   days on market $59,900 Active 22 DOM
2. 2026-06-17
   days on market $59,900 Active 21 DOM
3. 2026-06-16
   days on market $59,900 Active 20 DOM
4. 2026-06-15
   days on market $59,900 Active 19 DOM
5. 2026-06-13
   days on market $59,900 Active 17 DOM
6. 2026-06-09
   days on market $59,900 Active 13 DOM
7. 2026-06-08
   days on market $59,900 Active 12 DOM
8. 2026-06-07
   days on market $59,900 Active 11 DOM
9. 2026-06-04
   days on market $59,900 Active 8 DOM
10. 2026-06-03
    days on market $59,900 Active 7 DOM
11. 2026-06-02
    days on market $59,900 Active 6 DOM
12. 2026-06-01
    days on market $59,900 Active 5 DOM
13. 2026-05-31
    days on market $59,900 Active 4 DOM
14. 2026-05-11
    historical
15. 2026-04-11
    price $63,000
16. 2026-02-10
    price $68,000
17. 2026-01-07
    price $75,000
18. 2025-11-11
    listed $76,999 Active

ⓘ 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: $164 · $14/mo
• Projected year-2 tax: $455 · $38/mo
• Expected delta: +$291/yr (+$24/mo · 177.5%)

ⓘ 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 7/10 Severe
• 🌡 Heat 7/10 Severe 3 d/yr ≥105°F today · 9 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 9 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,470
• − Mortgage interest: −$3,355
• − Property taxes: −$164
• − Insurance: −$300
• − Repairs & maintenance: −$1,958
• − Management: −$1,958
• − Depreciation: −$1,743
• Taxable income: $14,994
• Est. tax owed @ 24.0%: −$3,598
• After-tax cash flow: $11,500/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): 39,937
• Household income: $49,396
• Rent vs Own: 42.8% rent · 57.2% own
• Severe rent burden: 2144.0

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 0.61)
• Race & ethnicity: Hispanic / Latino 54% White 30% Two or more races 18% Black 10% Native American 2% Asian 2%
• Hispanic origin (detail): Mexican 48% Puerto Rican 1%
• Common ancestry: Slovak 1% Romanian 1% Portuguese 1%
• Foreign-born: 21% · Canada
• Languages at home: 59% English-only · Spanish 38% Arabic 1% Tagalog/Filipino 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: ▼ -147.46%
• Current HPI: 405.1277
• Rent YoY: ▲ 1.76%
• 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

-18.2% since first listed

5 events — show timeline

• 2026-05-11 Listing Removed — SDMLS
• 2026-04-11 Price Changed $63,000 SDMLS
• 2026-02-10 Price Changed $68,000 SDMLS
• 2026-01-07 Price Changed $75,000 SDMLS
• 2025-11-11 Listed $76,999 SDMLS

Property tax history

-3.0%/yr

Latest (2025): $164 · +3.0% YoY. Source: county tax records.