729 Santa Teresa Way · Hemet, CA 92545

$165,000

2 bd · 2.0 ba · 1,392 sqft · Manufactured public records · 23 Days on market

Built 1970 4,356 sqft lot Est $157k · at est. $112/mo HOA · 6% of rent

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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 +25.3/30.0
• DSCR +8.3/10.0
• 1% rule +7.1/10.0
• ARV discount +5.3/15.0
• 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

Welcome to this spacious 2-bedroom, 2-bathroom double wide home in the desirable 55+ community of Sierra Dawn Estates. Built in 1970, this well-maintained property features an open floor plan, abundant natural light, and low-maintenance landscaping throughout. Interior highlights include a large living room, formal dining area with built-in China hutch, and a well-appointed kitchen offering garbage disposal, breakfast bar, and pantry. Thoughtful built-in cabinetry throughout the home provides plenty of storage space. The primary suite features ample counter space, a single-sink vanity, and a retro soaking tub. The spacious guest bedroom has direct access to a Jack and Jill bathroom. The ind

Key facts

• Pantry
• Open floor plan
• Garbage disposal

Tags

• OPEN FLOOR PLAN
• BUILT-IN CHINA HUTCH
• GARBAGE DISPOSAL
• BREAKFAST BAR
• PANTRY
• BUILT-IN CABINETRY

Property features AI

Finance

• Other: Community features include curbs, biking paths, street lighting, storm drains, and sidewalks
• Financial info: Assessments unknown
• HOA & community: Part of the Sierra Dawn South association; Monthly association fee; Association amenities include pool, spa, sauna, clubhouse, gym/exercise room, billiard and card rooms, barbecue, fire pit, other courts, onsite property management; call for rules; Senior community

Exterior

• Parking: Driveway; Attached carport; Has parking
• Security: Carbon monoxide detector(s); Smoke detector
• Utilities: Photovoltaics leased (electric); Natural gas connected; Public sewer; Sewer connected; District/public water; Water connected; Cable connected; Telephone on property; Electricity connected
• Home design: Single-story; Planned development community; No common walls; Not an ADU
• Construction: Manufactured construction
• Exterior features: Manufactured house; Open patio; Patio present; Shed; Chain link fence; Front yard and back yard; Near public transit; Park nearby; Close to clubhouse; Has view; 0–1 unit/acre density

Interior

• Kitchen: Kitchen open to family room; Breakfast counter/bar; Formal dining room
• Bedrooms: Main floor primary bedroom; All bedrooms on the same level; 2 main level bedrooms
• Flooring: Vinyl flooring; Carpet; Laminate flooring
• Bathrooms: 2 full bathrooms; Shower in tub; Separate shower; Closet in bathroom; Privacy toilet door
• Heating & cooling: Central cooling; Central furnace heating; Has heating and cooling
• Interior features: Crown moldings; Ceiling fan; Front door entry; One-level living; Turnkey condition; Carbon monoxide and smoke detectors; Sun room; Bonus room; Living room and family room
• Laundry & utility: Laundry room inside the home; Has laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $165k.

Deal economics

• At list price, monthly cash flow is $376 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $163k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.0% 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+, 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: Hemet High (math 21% / reading 46%, grade F, #656 of 1,170 statewide, top 57%, 2,438 students, 82% FRL) — zoned schools average 82% FRL vs 66% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.7%/yr); 290 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 37% 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 $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 + 3.7% rent growth), your $46k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($163k) 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.
• Current owner paid $53k; list at $165k implies a 211% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 6→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $162,525 (1.5% below list)

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.21% ✓
• Cap rate: 9.03%
• Cash-on-cash: 9.77%
• DSCR: 1.43
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $157,296
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
575 S Lyon Ave #34	0.19mi	2/2.0	1,440 (+3%)	1mo	$62,900	$44	84
1760 Santiago	0.05mi	2/2.0	1,248 (-10%)	0mo	$118,000	$95	80
2205 acacia #62	0.46mi	2/2.0	1,400 (+1%)	1mo	$73,000	$52	77
1631 Bella Vis	0.46mi	2/2.0	1,440 (+3%)	0mo	$147,115	$102	72
930 S Santa Victoria	0.39mi	3/2.0 (+1)	1,356 (-3%)	1mo	$140,000	$103	72
942 Santa Elena	0.29mi	2/1.5	1,503 (+8%)	0mo	$144,000	$96	71
1279 Sorrel Dr	0.66mi	2/2.0	1,440 (+3%)	0mo	$185,000	$128	63
1778 Burr Oak Way	0.56mi	3/2.0 (+1)	1,440 (+3%)	0mo	$190,000	$132	63
1207 Sorrel Dr	0.59mi	2/2.0	1,464 (+5%)	1mo	$198,000	$135	63
1288 Lodgepole	0.68mi	2/2.0	1,440 (+3%)	1mo	$219,000	$152	61
1111 W Johnston Ave	0.51mi	2/2.0	1,200 (-14%)	0mo	$135,000	$113	53
2683 Chamise Way	0.72mi	2/2.0	1,596 (+15%)	1mo	$265,000	$166	41

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: -0.7%
• Equity multiple: 0.97×
• Total profit: $-1,236
• Equity at exit: $24,602

10-year hold

• IRR: 9.8%
• Equity multiple: 1.78×
• Total profit: $36,235
• Equity at exit: $14,266

Cash invested: $46,200 (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: 6.9×

Monthly cashflow live

• Estimated rent: $1,990 high
• Mortgage (P&I): −$865
• Tax from tax record: −$150 /mo · $1,800/yr
• Insurance: −$69
• HOA: −$112
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $376

Break-even live

Break-even rent $1,514

Max offer price $165,000

Occupancy floor 76%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1521 W Westmont Ave Hemet, CA	2.0	2.0	1197	$2,000	$1.67	43d	1	0.23mi
120 Santa Lucia Dr Hemet, CA	2.0	2.0	1197	$1,600	$1.34	43d	1	0.31mi
101 San Mateo Cir Hemet, CA	2.0	2.0	1152	$1,725	$1.50	16d	1	0.32mi
471 Whitney Dr Hemet, CA	2.0	2.0	1085	$1,800	$1.66	5d	1	0.35mi
1461 W Mayberry Ave Hemet, CA	2.0	2.0	1044	$1,750	$1.68	43d	1	0.37mi
683 Jonquil St Hemet, CA	3.0	2.0	1150	$2,448	$2.13	24d	1	0.38mi
1850 Amberwood Dr Hemet, CA	2.0	2.0	1170	$1,561	$1.33	43d	1	0.39mi
1241 Sandlewood Dr Hemet, CA	2.0	1.5	1504	$2,000	$1.33	43d	1	0.43mi
611 S Palm Ave Unit K Hemet, CA	2.0	2.0	1254	$1,895	$1.51	7d	1	0.54mi
2098 W Acacia Ave Hemet, CA	1.0–3.0	1.0–2.0	895	$2,035	$2.27	1d	1	0.58mi
2403 W Acacia Ave Hemet, CA	2.0	2.0	910	$1,995	$2.19	7d	1	0.61mi
2469 W Acacia Ave Hemet, CA	2.0	2.0	910	$1,750	$1.92	24d	1	0.62mi
1955 Silver Oak Way Hemet, CA	3.0	2.0	1318	$2,250	$1.71	43d	1	0.63mi
876 W Whittier Ave Unit 878 Hemet, CA	2.0	2.0	1127	$2,150	$1.91	24d	1	0.63mi
2971 Pembroke Ave Hemet, CA	3.0	2.0	1572	$3,000	$1.91	18d	1	0.70mi
471 S Simpson Ave Unit D Hemet, CA	2.0	2.0	900	$1,750	$1.94	43d	1	0.74mi
415 S Tahquitz Ave Hemet, CA	3.0	2.0	1766	$2,900	$1.64	18d	1	0.81mi
735 S Gilbert St Hemet, CA	3.0	2.0	1202	$2,400	$2.00	43d	1	0.85mi
1005 S Gilbert St Hemet, CA	2.0	1.5	975	$1,825	$1.87	24d	2	0.88mi
1025 S Gilbert St Hemet, CA	1.0–2.0	1.0–2.0	890	$2,320	$2.61	1d	8	0.88mi
3030 W Acacia Ave Hemet, CA	1.0–3.0	1.0–2.0	892	$1,895	$2.12	1d	10	0.91mi
1315 W Latham Ave Hemet, CA	3.0	2.5	1340	$2,550	$1.90	43d	1	0.94mi
424 W Mayberry Ave Unit 1 Hemet, CA	1.0	1.0	1664	$850	$0.51	7d	1	0.94mi
363 S Gilbert St Hemet, CA	3.0	2.0	1200	$1,900	$1.58	4d	1	0.95mi
363 S Gilbert St Unit B Hemet, CA	3.0	2.0	1200	$1,900	$1.58	14d	1	0.95mi
716 Robert Dr Hemet, CA	3.0	2.0	1450	$2,300	$1.59	5d	1	0.97mi
1354 Jasmine Way Hemet, CA	2.0	2.0	1440	$1,650	$1.15	43d	1	0.99mi
250 N Elk St Hemet, CA	2.0	1.0	900	$1,625	$1.81	14d	1	1.05mi
1270 Rosalia Ave Unit 1 Hemet, CA	2.0	1.0	900	$1,800	$2.00	43d	1	1.24mi
1862 Pueblo Dr Hemet, CA	2.0	2.0	977	$1,900	$1.94	43d	1	1.26mi
2770 W Devonshire Ave Hemet, CA	1.0–2.0	1.0–2.0	707	$1,945	$2.75	1d	11	1.26mi
1862 Pueblo Dr Unit 1862 Hemet, CA	2.0	2.0	977	$1,750	$1.79	24d	1	1.26mi
853 Douglas Ct Hemet, CA	2.0	2.0	1148	$1,850	$1.61	4d	1	1.28mi
446 N Elk St Unit D Hemet, CA	2.0	1.0	980	$1,675	$1.71	24d	1	1.30mi
1964 W Oakland Ave Hemet, CA	2.0	2.0	977	$1,695	$1.73	18d	1	1.31mi
860 Douglas Ct Hemet, CA	2.0	2.0	1114	$1,850	$1.66	18d	1	1.32mi
2971 Peach Tree St Hemet, CA	3.0	2.0	1834	$2,395	$1.31	43d	1	1.33mi
543 La Cresta Dr Hemet, CA	2.0	2.0	1544	$1,595	$1.03	43d	1	1.37mi
627 Solano Dr Hemet, CA	2.0	2.0	882	$1,800	$2.04	18d	1	1.39mi
390 Magnolia Cir Hemet, CA	2.0	2.0	1038	$2,400	$2.31	4d	1	1.39mi

HOA detail

• Monthly dues: $112 · $1,344/yr
• Likely covers: trashlandscaping

Listing history 20 events

1. 2026-06-18
   days on market $165,000 Active 23 DOM
2. 2026-06-17
   days on market $165,000 Active 22 DOM
3. 2026-06-16
   days on market $165,000 Active 21 DOM
4. 2026-06-15
   days on market $165,000 Active 20 DOM
5. 2026-06-13
   days on market $165,000 Active 18 DOM
6. 2026-06-09
   days on market $165,000 Active 14 DOM
7. 2026-06-08
   days on market $165,000 Active 13 DOM
8. 2026-06-07
   days on market $165,000 Active 12 DOM
9. 2026-06-04
   days on market $165,000 Active 9 DOM
10. 2026-06-03
    days on market $165,000 Active 8 DOM
11. 2026-06-02
    days on market $165,000 Active 7 DOM
12. 2026-06-01
    days on market $165,000 Active 6 DOM
13. 2026-05-31
    days on market $165,000 Active 5 DOM
14. 2026-05-26
    listed $165,000 Active
15. 2026-02-28
    status Active
16. 2026-02-28
    historical
17. 2026-01-13
    status Active
18. 2025-12-11
    status Pending Sale
19. 2025-10-27
    listed $165,000 Active
20. 2001-01-30
    soldstatus $53,000

ⓘ 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: $1,800 · $150/mo
• Projected year-2 tax: $1,800 · $150/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 7/10 Severe 6 d/yr ≥104°F today · 16 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: $23,878
• − Mortgage interest: −$9,243
• − Property taxes: −$1,800
• − Insurance: −$825
• − Repairs & maintenance: −$1,910
• − Management: −$1,910
• − HOA: −$1,344
• − Depreciation: −$4,800
• Taxable income: $2,046
• Est. tax owed @ 24.0%: −$491
• After-tax cash flow: $4,020/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

+211.3% since first listed

7 events — show timeline

• 2026-05-26 Listed $165,000 CRMLS
• 2026-02-28 Relisted — CRMLS
• 2026-02-28 Listing Removed — CRMLS
• 2026-01-13 Relisted — CRMLS
• 2025-12-11 Pending — CRMLS
• 2025-10-27 Listed $165,000 CRMLS
• 2001-01-30 Sold (Public Records) $53,000 Public Records

Property tax history

+6.3%/yr

Latest (2025): $1,800 · +150.6% YoY. Source: county tax records.