1536 S State St #233 · Hemet, CA 92543

$175,000

3 bd · 2.0 ba · 1,152 sqft · Manufactured public records · 326 Days on market

Built 1989 $152/sqft · 94% above area

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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 +29.1/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• 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 MLS

Move-In Ready 2-Bedroom Home with Mountain Views and Rare 2-Car Garage! Enjoy peaceful living in this beautifully maintained 2-bedroom, 2-bath mobile home, ideally situated in one of the best locations within the park. Backing up to the scenic hills and mountains, this home offers a private, tranquil setting with breathtaking natural views right from your backyard. Inside, you’ll find a bright and spacious layout with a comfortable living area, a well-appointed kitchen, and two generously sized bedrooms. A standout feature of this home is the rare attached 2-car garage—one of the few in the entire park—offering extra storage and secure parking that’s hard to find in this community. Located in a quiet, desirable area of the park, you’ll enjoy both privacy and easy access to community amenities, shopping, dining, and more.

Key facts

• Rare 2-car garage
• Quiet desirable area
• Mountain views

Tags

• MOUNTAIN VIEWS
• RARE 2-CAR GARAGE
• PRIVATE TRANQUIL SETTING
• BREATHTAKING NATURAL VIEWS
• QUIET DESIRABLE AREA

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $175k.

Deal economics

• At list price, monthly cash flow is $605 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 4.8% 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+, amenities F, commute 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.
• Zoned schools: Mcsweeny Elementary (746 students, 90% FRL); Diamond Valley Middle (math 10% / reading 10%, grade F, #474 of 498 statewide, top 99%, 1,078 students, 91% FRL); West Valley High (math 18% / reading 40%, grade F, #770 of 1,170 statewide, top 66%, 1,898 students, 88% FRL) — zoned schools average 90% FRL vs 66% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.8%/yr); 273 active listings in the ZIP; 24 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).
• At $2,071/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 $1k of loan paydown is wiped out by about $5k 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 $49k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 326 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 4 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.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $154,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 326 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
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: 1.18% ✓
• Cap rate: 10.44%
• Cash-on-cash: 14.80%
• DSCR: 1.66
• GRM: 7.0

CMA / ARV

• ARV (median comp): $90,100
• List price: $175,000
• Delta: 94.23%
• Verdict: OVERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1536 S State St #58	0.17mi	2/2.0 (-1)	1,152 (0%)	6mo	$125,000	$109	82
1536 S State St #219	0.17mi	2/2.0 (-1)	1,248 (+8%)	0mo	$135,000	$108	73
1700 S State St #76	0.12mi	3/2.0	1,056 (-8%)	10mo	$50,000	$47	72
1536 S State St #134	0.17mi	3/2.0	1,058 (-8%)	9mo	$122,500	$116	71
1536 S State St #80	0.21mi	3/2.0	1,232 (+7%)	11mo	$203,900	$166	70
1536 S State St #139	0.17mi	2/2.0 (-1)	1,100 (-4%)	14mo	$70,000	$64	68
1536 State St #75	0.17mi	2/2.0 (-1)	1,080 (-6%)	12mo	$52,500	$49	66
1536 S STATE St #14	0.27mi	2/2.0 (-1)	1,080 (-6%)	11mo	$91,500	$85	63
1536 STATE #129	0.17mi	2/1.0 (-1)	1,050 (-9%)	13mo	$53,000	$50	58
1455 S State St #111	0.50mi	2/2.0 (-1)	1,040 (-10%)	3mo	$102,000	$98	53
725 W Thornton Ave #22	0.73mi	2/2.0 (-1)	1,092 (-5%)	10mo	$43,000	$39	43
725 W Thornton Ave #14	0.73mi	2/2.0 (-1)	1,248 (+8%)	11mo	$68,000	$54	38

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: 4.0%
• Equity multiple: 1.15×
• Total profit: $7,514
• Equity at exit: $26,093

10-year hold

• IRR: 12.4%
• Equity multiple: 1.93×
• Total profit: $45,587
• Equity at exit: $15,131

Cash invested: $49,000 (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 92543

• Home prices YoY: -26.7%
• Rents YoY: 1.8%
• Active inventory: 273
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,071 high
• Mortgage (P&I): −$918
• Tax from tax record: −$41 /mo · $493/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$435
• Net cashflow: $605

Break-even live

Break-even rent $1,306

Max offer price $175,000

Occupancy floor 66%

Sensitivity live

Price	-10% $704	-5% $654	+0% $605	+5% $555	+10% $505
Rent	-10% $441	-5% $523	+0% $605	+5% $686	+10% $768
Rate	-1.0pp $693	-0.5pp $649	base $605	+0.5pp $559	+1.0pp $513

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
409 E Thornton Ave Hemet, CA	2.0	1.0	970	$1,925	$1.98	0d	1	0.36mi
640 Vista del Monte Hemet, CA	3.0	2.0	1480	$2,650	$1.79	45d	1	0.64mi
390 Magnolia Cir Hemet, CA	2.0	2.0	1038	$2,400	$2.31	1d	1	0.69mi
390 Magnolia Cir Hemet, CA	2.0	2.0	1038	$2,400	$2.31	5d	1	0.69mi
678 Monterey Pl Hemet, CA	2.0	2.0	1047	$1,995	$1.91	45d	1	0.79mi
576 Montecito Ave Unit C Hemet, CA	2.0	2.0	861	$1,850	$2.15	18d	1	0.90mi
1025 S Gilbert St Hemet, CA	1.0–2.0	1.0–2.0	890	$2,320	$2.61	3d	8	0.99mi
700 Johnston Ave Unit 708 Hemet, CA	2.0	1.0	1000	$1,600	$1.60	9d	1	1.00mi
860 Douglas Ct Hemet, CA	2.0	2.0	1114	$1,850	$1.66	20d	1	1.02mi
1005 S Gilbert St Hemet, CA	2.0	1.5	975	$1,825	$1.87	26d	2	1.03mi
853 Douglas Ct Hemet, CA	2.0	2.0	1148	$1,850	$1.61	5d	1	1.03mi
733 S San Jacinto St Unit B Hemet, CA	2.0	1.0	1000	$1,500	$1.50	26d	1	1.22mi
716 Robert Dr Hemet, CA	3.0	2.0	1450	$2,300	$1.59	7d	1	1.23mi
893 S Palm Ave Hemet, CA	2.0	2.0	720	$1,375	$1.91	6d	1	1.25mi
735 S Gilbert St Hemet, CA	3.0	2.0	1202	$2,400	$2.00	45d	1	1.29mi
750 Santa Clara Cir Hemet, CA	2.0	2.0	800	$1,400	$1.75	16d	1	1.29mi
1711 Pepper Tree Dr Hemet, CA	2.0	2.0	864	$1,675	$1.94	23d	1	1.32mi
26454 S San Jacinto St Hemet, CA	3.0	1.0	800	$1,795	$2.24	4d	1	1.35mi
26452 S San Jacinto St Hemet, CA	3.0	1.0	800	$1,795	$2.24	4d	1	1.35mi
26450 San Jacinto St Hemet, CA	3.0	2.0	1250	$2,295	$1.84	4d	1	1.35mi
1287 Olive Tree Ln Unit D Hemet, CA	2.0	1.0	995	$1,599	$1.61	45d	1	1.38mi
1287 Olive Tree Ln Unit C Hemet, CA	2.0	1.0	995	$1,495	$1.50	26d	1	1.38mi
26416 S San Jacinto St Unit 26416 Hemet, CA	2.0	1.0	900	$1,675	$1.86	26d	1	1.40mi
876 W Whittier Ave Unit 878 Hemet, CA	2.0	2.0	1127	$2,150	$1.91	26d	1	1.44mi

Listing history 21 events

1. 2026-06-21
   days on market $175,000 Active 326 DOM
2. 2026-06-18
   days on market $175,000 Active 323 DOM
3. 2026-06-17
   days on market $175,000 Active 322 DOM
4. 2026-06-16
   days on market $175,000 Active 321 DOM
5. 2026-06-15
   days on market $175,000 Active 320 DOM
6. 2026-06-13
   days on market $175,000 Active 318 DOM
7. 2026-06-09
   days on market $175,000 Active 314 DOM
8. 2026-06-08
   days on market $175,000 Active 313 DOM
9. 2026-06-07
   days on market $175,000 Active 312 DOM
10. 2026-06-04
    days on market $175,000 Active 309 DOM
11. 2026-06-03
    days on market $175,000 Active 308 DOM
12. 2026-06-02
    days on market $175,000 Active 307 DOM
13. 2026-06-01
    days on market $175,000 Active 306 DOM
14. 2026-05-31
    days on market $175,000 Active 305 DOM
15. 2026-04-12
    status Active 863-char remark

    Show marketing remark (863 chars)

    Move-In Ready 2-Bedroom Home with Mountain Views and Rare 2-Car Garage! Enjoy peaceful living in this beautifully maintained 2-bedroom, 2-bath mobile home, ideally situated in one of the best locations within the park. Backing up to the scenic hills and mountains, this home offers a private, tranquil setting with breathtaking natural views right from your backyard. Inside, you’ll find a bright and spacious layout with a comfortable living area, a well-appointed kitchen, and two generously sized bedrooms. A standout feature of this home is the rare attached 2-car garage—one of the few in the entire park—offering extra storage and secure parking that’s hard to find in this community. Located in a quiet, desirable area of the park, you’ll enjoy both privacy and easy access to community amenities, shopping, dining, and more.

16. 2026-02-22
    historical Active Under Contract 863-char remark

    Show marketing remark (863 chars)

    Move-In Ready 2-Bedroom Home with Mountain Views and Rare 2-Car Garage! Enjoy peaceful living in this beautifully maintained 2-bedroom, 2-bath mobile home, ideally situated in one of the best locations within the park. Backing up to the scenic hills and mountains, this home offers a private, tranquil setting with breathtaking natural views right from your backyard. Inside, you’ll find a bright and spacious layout with a comfortable living area, a well-appointed kitchen, and two generously sized bedrooms. A standout feature of this home is the rare attached 2-car garage—one of the few in the entire park—offering extra storage and secure parking that’s hard to find in this community. Located in a quiet, desirable area of the park, you’ll enjoy both privacy and easy access to community amenities, shopping, dining, and more.

17. 2026-01-24
    status Active 863-char remark

    Show marketing remark (863 chars)

    Move-In Ready 2-Bedroom Home with Mountain Views and Rare 2-Car Garage! Enjoy peaceful living in this beautifully maintained 2-bedroom, 2-bath mobile home, ideally situated in one of the best locations within the park. Backing up to the scenic hills and mountains, this home offers a private, tranquil setting with breathtaking natural views right from your backyard. Inside, you’ll find a bright and spacious layout with a comfortable living area, a well-appointed kitchen, and two generously sized bedrooms. A standout feature of this home is the rare attached 2-car garage—one of the few in the entire park—offering extra storage and secure parking that’s hard to find in this community. Located in a quiet, desirable area of the park, you’ll enjoy both privacy and easy access to community amenities, shopping, dining, and more.

18. 2026-01-18
    historical 863-char remark

    Show marketing remark (863 chars)

    Move-In Ready 2-Bedroom Home with Mountain Views and Rare 2-Car Garage! Enjoy peaceful living in this beautifully maintained 2-bedroom, 2-bath mobile home, ideally situated in one of the best locations within the park. Backing up to the scenic hills and mountains, this home offers a private, tranquil setting with breathtaking natural views right from your backyard. Inside, you’ll find a bright and spacious layout with a comfortable living area, a well-appointed kitchen, and two generously sized bedrooms. A standout feature of this home is the rare attached 2-car garage—one of the few in the entire park—offering extra storage and secure parking that’s hard to find in this community. Located in a quiet, desirable area of the park, you’ll enjoy both privacy and easy access to community amenities, shopping, dining, and more.

19. 2025-12-22
    status Active 863-char remark

    Show marketing remark (863 chars)

    Move-In Ready 2-Bedroom Home with Mountain Views and Rare 2-Car Garage! Enjoy peaceful living in this beautifully maintained 2-bedroom, 2-bath mobile home, ideally situated in one of the best locations within the park. Backing up to the scenic hills and mountains, this home offers a private, tranquil setting with breathtaking natural views right from your backyard. Inside, you’ll find a bright and spacious layout with a comfortable living area, a well-appointed kitchen, and two generously sized bedrooms. A standout feature of this home is the rare attached 2-car garage—one of the few in the entire park—offering extra storage and secure parking that’s hard to find in this community. Located in a quiet, desirable area of the park, you’ll enjoy both privacy and easy access to community amenities, shopping, dining, and more.

20. 2025-12-16
    historical 863-char remark

    Show marketing remark (863 chars)

    Move-In Ready 2-Bedroom Home with Mountain Views and Rare 2-Car Garage! Enjoy peaceful living in this beautifully maintained 2-bedroom, 2-bath mobile home, ideally situated in one of the best locations within the park. Backing up to the scenic hills and mountains, this home offers a private, tranquil setting with breathtaking natural views right from your backyard. Inside, you’ll find a bright and spacious layout with a comfortable living area, a well-appointed kitchen, and two generously sized bedrooms. A standout feature of this home is the rare attached 2-car garage—one of the few in the entire park—offering extra storage and secure parking that’s hard to find in this community. Located in a quiet, desirable area of the park, you’ll enjoy both privacy and easy access to community amenities, shopping, dining, and more.

21. 2025-07-19
    listed $175,000 Active 863-char remark

    Show marketing remark (863 chars)

    Move-In Ready 2-Bedroom Home with Mountain Views and Rare 2-Car Garage! Enjoy peaceful living in this beautifully maintained 2-bedroom, 2-bath mobile home, ideally situated in one of the best locations within the park. Backing up to the scenic hills and mountains, this home offers a private, tranquil setting with breathtaking natural views right from your backyard. Inside, you’ll find a bright and spacious layout with a comfortable living area, a well-appointed kitchen, and two generously sized bedrooms. A standout feature of this home is the rare attached 2-car garage—one of the few in the entire park—offering extra storage and secure parking that’s hard to find in this community. Located in a quiet, desirable area of the park, you’ll enjoy both privacy and easy access to community amenities, shopping, dining, and more.

ⓘ 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: $493 · $41/mo
• Projected year-2 tax: $1,330 · $111/mo
• Expected delta: +$837/yr (+$70/mo · 169.6%)

ⓘ 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 7/10 Severe
• 🌡 Heat 7/10 Severe 6 d/yr ≥102°F today · 17 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: $24,855
• − Mortgage interest: −$9,803
• − Property taxes: −$493
• − Insurance: −$875
• − Repairs & maintenance: −$1,988
• − Management: −$1,988
• − Depreciation: −$5,091
• Taxable income: $4,616
• Est. tax owed @ 24.0%: −$1,108
• After-tax cash flow: $6,146/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

7 events — show timeline

• 2026-04-12 Relisted — CRMLS
• 2026-02-22 Contingent — CRMLS
• 2026-01-24 Relisted — CRMLS
• 2026-01-18 Listing Removed — CRMLS
• 2025-12-22 Relisted — CRMLS
• 2025-12-16 Listing Removed — CRMLS
• 2025-07-19 Listed $175,000 CRMLS

Property tax history

+3.7%/yr

Latest (2025): $493 · +2.0% YoY. Source: county tax records.