220 ELK St #118 · Hemet, CA 92543

$67,900

1 bd · 1.0 ba · 728 sqft · Manufactured · 312 Days on market

Built 1981 Good condition $93/sqft · 92% above area ↓ 1% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +3.8/5.0
• Rent growth +2.9/5.0
• Livability +2.6/5.0
• Schools +2.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

? Charming & Move-In Ready! This beautifully updated 1-bedroom, 1-bath home combines comfort, convenience, and style. The exterior has been freshly painted and features a brand-new porch with brick steps, covered parking for two vehicles, and a spacious low-maintenance yard. Inside, enjoy fresh paint throughout and brand-new vinyl flooring. The bright, inviting living area is filled with natural light, while the kitchen offers generous cabinet and built-in storage space and comes equipped with an oven, refrigerator, and dishwasher. Additional highlights include central air and heat for year-round comfort, plus in-home washer and dryer hookups.

Key facts

• Covered parking
• Low maintenance yard
• Brand new porch

Tags

• FRESHLY PAINTED EXTERIOR
• BRAND NEW PORCH
• COVERED PARKING
• LOW MAINTENANCE YARD
• BRAND NEW VINYL FLOORING
• GENEROUS CABINET SPACE

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $68k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $709 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $68k).
• Recommended offer: $60k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.8% 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; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 36% of the median local income ($49k/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 $469 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 $19k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 312 days — a 12% lower offer ($60k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $59,752 (12.0% below list)

Questions for the listing agent

1. It's been on market 312 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: 2.20% ✓
• Cap rate: 18.82%
• Cash-on-cash: 44.74%
• DSCR: 2.99
• GRM: 3.8

CMA / ARV

• ARV (median comp): $35,363
• List price: $67,900
• Delta: 92.01%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1895 W Devonshire Ave #135	0.60mi	2/1.0 (+1)	696 (-4%)	5mo	$26,000	$37	55
260 N Lyon Ave #12	0.35mi	2/1.0 (+1)	800 (+10%)	14mo	$75,000	$94	50
332 N Lyon Ave #25	0.48mi	2/1.0 (+1)	800 (+10%)	8mo	$30,000	$38	49
260 N Lyon Ave #120	0.36mi	2/1.0 (+1)	800 (+10%)	16mo	$44,000	$55	48
332 N Lyon Ave #17	0.55mi	2/1.0 (+1)	800 (+10%)	8mo	$26,000	$33	46
270 Santa Clara Cir	0.64mi	2/1.0 (+1)	672 (-8%)	9mo	$103,000	$153	45
1895 W Devonshire Ave #93	0.52mi	2/1.0 (+1)	800 (+10%)	13mo	$35,000	$44	44
281 Santa Clara Cir	0.66mi	2/1.0 (+1)	684 (-6%)	13mo	$139,000	$203	43
2205 W Acacia Ave #139	0.74mi	2/1.0 (+1)	800 (+10%)	1mo	$85,000	$106	43
430 N Palm Ave #103	0.62mi	2/1.0 (+1)	832 (+14%)	2mo	$47,000	$56	40
810 San Ynez Dr	0.73mi	2/2.0 (+1)	800 (+10%)	3mo	$85,000	$106	38
1774 Santiago Way	0.73mi	2/1.0 (+1)	800 (+10%)	11mo	$125,000	$156	35

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: 40.4%
• Equity multiple: 2.70×
• Total profit: $32,331
• Equity at exit: $10,124

10-year hold

• IRR: 46.1%
• Equity multiple: 5.16×
• Total profit: $79,025
• Equity at exit: $5,871

Cash invested: $19,012 (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: 3.8×

Monthly cashflow live

• Estimated rent: $1,491 high
• Mortgage (P&I): −$356
• Tax est. 1.5%: −$85 /mo · $1,018/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $709

Break-even live

Break-even rent $594

Max offer price $67,900

Occupancy floor 47%

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: $16,975
• Closing costs: $2,037
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
201 N Valley View Dr Hemet, CA	1.0	1.0	552	$1,500	$2.72	43d	1	0.24mi
2098 W Acacia Ave Hemet, CA	1.0–3.0	1.0–2.0	895	$1,595	$1.78	1d	1	0.55mi
233 N Alessandro St Hemet, CA	1.0	1.0	690	$1,400	$2.03	43d	1	0.64mi
199 N Inez St Apt D Hemet, CA	1.0	1.0	650	$1,300	$2.00	7d	1	0.67mi
113 E Kimball Ave Unit 2 Hemet, CA	2.0	1.0	500	$1,295	$2.59	43d	1	0.74mi
893 S Palm Ave Hemet, CA	2.0	2.0	720	$1,375	$1.91	4d	1	0.90mi
2770 W Devonshire Ave Hemet, CA	1.0–2.0	1.0–2.0	707	$1,625	$2.30	1d	11	1.05mi
3030 W Acacia Ave Hemet, CA	1.0–3.0	1.0–2.0	892	$1,595	$1.79	1d	10	1.10mi
426 N Buena Vista St Hemet, CA	2.0	1.0	680	$1,550	$2.28	3d	1	1.11mi
426 N Buena Vista St Apt 1 Hemet, CA	2.0	1.0	680	$1,550	$2.28	7d	1	1.11mi
1025 S Gilbert St Hemet, CA	1.0–2.0	1.0–2.0	890	$1,820	$2.04	1d	8	1.13mi
560 E Oakland Ave Apt P Hemet, CA	1.0	1.0	550	$1,325	$2.41	16d	1	1.17mi
1000 S Gilbert St Hemet, CA	1.0–2.0	1.0	500	$1,170	$2.34	1d	4	1.18mi
526 Greystone Ln Hemet, CA	2.0	1.0	700	$1,600	$2.29	43d	1	1.22mi
526 Greystone Ln Hemet, CA	2.0	1.0	700	$1,600	$2.29	17d	1	1.22mi
526 Greystone Ln Apt 3 Hemet, CA	2.0	1.0	700	$1,650	$2.36	43d	1	1.22mi
1150 S Palm Ave Hemet, CA	1.0	1.0	670	$1,534	$2.29	24d	1	1.23mi
210 N Santa Fe St Hemet, CA	1.0	1.0	600	$1,300	$2.17	3d	1	1.26mi
811 E Menlo Ave Apt 12 Hemet, CA	1.0	1.0	550	$1,300	$2.36	24d	1	1.40mi
811 E Menlo Ave Unit 02 Hemet, CA	1.0	1.0	550	$1,300	$2.36	43d	1	1.41mi
150 S San Jacinto St Hemet, CA	1.0–2.0	1.0–2.0	834	$1,445	$1.73	23d	2	1.50mi

Listing history 15 events

1. 2026-06-18
   days on market $67,900 Active 312 DOM
2. 2026-06-17
   days on market $67,900 Active 311 DOM
3. 2026-06-16
   days on market $67,900 Active 310 DOM
4. 2026-06-15
   days on market $67,900 Active 309 DOM
5. 2026-06-13
   days on market $67,900 Active 307 DOM
6. 2026-06-09
   days on market $67,900 Active 303 DOM
7. 2026-06-08
   days on market $67,900 Active 302 DOM
8. 2026-06-07
   days on market $67,900 Active 301 DOM
9. 2026-06-04
   days on market $67,900 Active 298 DOM
10. 2026-06-03
    days on market $67,900 Active 297 DOM
11. 2026-06-02
    days on market $67,900 Active 296 DOM
12. 2026-06-01
    days on market $67,900 Active 295 DOM
13. 2026-05-31
    days on market $67,900 Active 294 DOM
14. 2025-10-28
    price $67,900 661-char remark

    Show marketing remark (661 chars)

    ? Charming & Move-In Ready! This beautifully updated 1-bedroom, 1-bath home combines comfort, convenience, and style. The exterior has been freshly painted and features a brand-new porch with brick steps, covered parking for two vehicles, and a spacious low-maintenance yard. Inside, enjoy fresh paint throughout and brand-new vinyl flooring. The bright, inviting living area is filled with natural light, while the kitchen offers generous cabinet and built-in storage space and comes equipped with an oven, refrigerator, and dishwasher. Additional highlights include central air and heat for year-round comfort, plus in-home washer and dryer hookups.

15. 2025-08-10
    listed $68,900 Active 661-char remark

    Show marketing remark (661 chars)

    ? Charming & Move-In Ready! This beautifully updated 1-bedroom, 1-bath home combines comfort, convenience, and style. The exterior has been freshly painted and features a brand-new porch with brick steps, covered parking for two vehicles, and a spacious low-maintenance yard. Inside, enjoy fresh paint throughout and brand-new vinyl flooring. The bright, inviting living area is filled with natural light, while the kitchen offers generous cabinet and built-in storage space and comes equipped with an oven, refrigerator, and dishwasher. Additional highlights include central air and heat for year-round comfort, plus in-home washer and dryer hookups.

ⓘ 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 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥104°F today · 19 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: $17,896
• − Mortgage interest: −$3,803
• − Property taxes: −$1,018
• − Insurance: −$340
• − Repairs & maintenance: −$1,432
• − Management: −$1,432
• − Depreciation: −$1,975
• Taxable income: $7,896
• Est. tax owed @ 24.0%: −$1,895
• After-tax cash flow: $6,612/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This charming and move-in ready manufactured home is in good condition with fresh updates and a low-maintenance yard, making it an attractive investment.

Value-add opportunities

• Both Painting the exterior — Enhances curb appeal and value.
• Both Landscaping improvements — Enhances curb appeal and value.
• Both New flooring in common areas — Improves aesthetics and functionality.
• Both Upgrading appliances — Enhances functionality and value.
• Both Landscaping and curb appeal improvements — Enhances curb appeal and value.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior — Enhances curb appeal and value. ↑
• Both Landscaping improvements — Enhances curb appeal and value. ↑
• Both New flooring in common areas — Improves aesthetics and functionality. ↑
• Both Upgrading appliances — Enhances functionality and value. ↑
• Both Landscaping and curb appeal improvements — Enhances curb appeal and value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-1.5% since first listed

2 events — show timeline

• 2025-10-28 Price Changed $67,900 CRMLS
• 2025-08-10 Listed $68,900 CRMLS