601 N Kirby #385 · Hemet, CA 92545

$69,995

2 bd · 2.0 ba · 1,440 sqft · Manufactured public records · 5 Days on market

Built 1974 Est $73k · 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 +9.6/15.0
• 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

Your ultimate peaceful haven in the highly sought-after Colonial Country Club, a premium 55+ gated community. Spanning 1,440 square feet, with an extra bonus area @200 sq feet, this turnkey two-bedroom, two-bathroom single-story dwelling is the answer to your social life. The interior feels extra spacious thanks to elevated vaulted ceilings and a brilliant open floor plan with extended living areas. The outdoor private patio invites you to start your day with tranquil sunrise views or wind down with evening breezes overlooking the grass. A covered tandem garage ensures a seamless transition into the house. The community itself is a private oasis. Residents are treated to free access on the

Key facts

• Gated community
• Pickleball courts
• Private patio

Tags

• GATED COMMUNITY
• PRIVATE PATIO
• 18 HOLE GOLF COURSE
• SOOTHING SPA
• ATHLETIC FACILITIES
• PICKLEBALL COURTS

Property features AI

Finance

• Other: Mobile home remains on parcel
• Financial info: Monthly land lease payment (park) applies
• HOA & community: Located in a park (Colonial Country Club) with land lease; Senior community; Community features include a golf course

Exterior

• Parking: Covered parking; Two garage spaces and two carport spaces (four parking spaces total)
• Utilities: Natural gas connected; Electricity connected; Public/district water; Public sewer
• Home design: Double-wide mobile home (12' x 60') located in a senior community; Single-story; Entry level is ground floor
• Construction: Mobile home (double-wide); Year built reported from assessor
• Exterior features: Community pool; Patio-home setting with front yard

Interior

• Bedrooms: All bedrooms on the main (down) level
• Bathrooms: Two full bathrooms with bathtub and separate shower
• Heating & cooling: Central cooling; Central furnace heating
• Interior features: One-level home with front and side door entries; Community spa; Multiple access exits and disability-friendly features
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $70k.

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 $70k).
• Cap rate 27.3% 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: Tahquitz High (math 14% / reading 42%, grade F, #777 of 1,170 statewide, top 67%, 1,727 students, 88% FRL) — zoned schools average 88% FRL vs 66% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.7%/yr); 290 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 39% 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 $484 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 $20k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 10y 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.

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 $69,995

Questions for the listing agent

1. Built in 1974 — 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: 2.96% ✓
• Cap rate: 27.29%
• Cash-on-cash: 74.99%
• DSCR: 4.34
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $73,440
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
601 Kirby St N #451	0.13mi	2/2.0	1,440 (0%)	0mo	$60,000	$42	94
601 N Kirby St #501	0.14mi	2/2.0	1,440 (0%)	0mo	$49,000	$34	93
601 Kirby St N #235	0.14mi	2/2.0	1,440 (0%)	3mo	$84,000	$58	91
601 N Kirby St #67	0.14mi	2/2.0	1,440 (0%)	6mo	$73,000	$51	89
601 N Kirby St #159	0.11mi	3/2.0 (+1)	1,440 (0%)	5mo	$69,000	$48	86
601 N Kirby #177	0.36mi	2/2.0	1,344 (-7%)	1mo	$10,000	$7	72
601 N Kirby St #267	0.14mi	2/2.0	1,248 (-13%)	3mo	$82,250	$66	69
1645 Sonora	0.73mi	2/2.0	1,440 (0%)	4mo	$199,900	$139	62
542 Castille	0.71mi	2/2.0	1,392 (-3%)	2mo	$239,000	$172	60
1895 W Devonshire #20	0.61mi	2/2.0	1,344 (-7%)	1mo	$44,000	$33	59
1895 W Devonshire Ave #76	0.61mi	2/2.0	1,344 (-7%)	4mo	$55,000	$41	57
1895 W Devonshire Ave #74	0.61mi	3/2.0 (+1)	1,344 (-7%)	2mo	$80,000	$60	54

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: 75.6%
• Equity multiple: 4.48×
• Total profit: $68,203
• Equity at exit: $10,436

10-year hold

• IRR: 79.5%
• Equity multiple: 9.48×
• Total profit: $166,244
• Equity at exit: $6,052

Cash invested: $19,599 (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: 2.8×

Monthly cashflow live

• Estimated rent: $2,069 high
• Mortgage (P&I): −$367
• Tax from tax record: −$14 /mo · $163/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$435
• Net cashflow: $1,225

Break-even live

Break-even rent $519

Max offer price $69,995

Occupancy floor 36%

Sensitivity live

Price	-10% $1,264	-5% $1,245	+0% $1,225	+5% $1,205	+10% $1,185
Rent	-10% $1,061	-5% $1,143	+0% $1,225	+5% $1,307	+10% $1,388
Rate	-1.0pp $1,260	-0.5pp $1,243	base $1,225	+0.5pp $1,207	+1.0pp $1,188

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: $17,499
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2770 W Devonshire Ave Hemet, CA	1.0–2.0	1.0–2.0	707	$1,945	$2.75	0d	10	0.10mi
743 Via Linda Dr Hemet, CA	2.0	2.0	1206	$1,995	$1.65	6d	1	0.42mi
3471 Dublin Ct Hemet, CA	3.0	2.0	1276	$2,895	$2.27	4d	1	0.44mi
811 Alondra Dr Hemet, CA	2.0	2.0	1166	$1,875	$1.61	5d	1	0.45mi
853 Ensenada Dr Hemet, CA	2.0	2.0	1350	$1,875	$1.39	25d	1	0.49mi
853 Ensenada Dr Hemet, CA	2.0	2.0	1350	$1,875	$1.39	12d	1	0.49mi
1964 W Oakland Ave Hemet, CA	2.0	2.0	977	$1,695	$1.73	18d	1	0.53mi
1862 Pueblo Dr Unit 1862 Hemet, CA	2.0	2.0	977	$1,750	$1.79	25d	1	0.57mi
1862 Pueblo Dr Hemet, CA	2.0	2.0	977	$1,900	$1.94	44d	1	0.57mi
627 Solano Dr Hemet, CA	2.0	2.0	882	$1,800	$2.04	19d	1	0.60mi
3800 W Devonshire Ave Hemet, CA	3.0	1.0–2.0	816	$2,172	$2.66	0d	8	0.65mi
3030 W Acacia Ave Hemet, CA	1.0–2.0	1.0–2.0	807	$1,785	$2.21	0d	8	0.66mi
2014 Iris Way Hemet, CA	3.0	2.0	1192	$2,850	$2.39	44d	1	0.67mi
543 La Cresta Dr Hemet, CA	2.0	2.0	1544	$1,595	$1.03	44d	1	0.75mi
2469 W Acacia Ave Hemet, CA	2.0	2.0	910	$1,750	$1.92	25d	1	0.76mi
2208 El Grande St Hemet, CA	2.0	2.0	1327	$2,100	$1.58	18d	1	0.76mi
2208 El Grande St Hemet, CA	2.0	2.0	1327	$2,000	$1.51	0d	1	0.76mi
2403 W Acacia Ave Hemet, CA	2.0	2.0	910	$1,995	$2.19	8d	1	0.77mi
1700 Walden Ln Hemet, CA	3.0	2.0	1430	$2,670	$1.87	25d	1	0.78mi
2098 W Acacia Ave Hemet, CA	1.0–3.0	1.0–2.0	895	$2,035	$2.27	0d	1	0.81mi
663 Mariposa Dr Hemet, CA	2.0	2.0	1440	$1,500	$1.04	25d	1	0.92mi
446 N Elk St Unit D Hemet, CA	2.0	1.0	980	$1,675	$1.71	25d	1	0.94mi
1270 Rosalia Ave Unit 1 Hemet, CA	2.0	1.0	900	$1,800	$2.00	44d	1	0.96mi
1245 Millie Dr Hemet, CA	3.0	2.0	1392	$2,850	$2.05	8d	1	0.98mi
250 N Elk St Hemet, CA	2.0	1.0	900	$1,625	$1.81	14d	1	0.99mi
1315 W Latham Ave Hemet, CA	3.0	2.5	1340	$2,550	$1.90	44d	1	1.00mi
828 Coramdeo Ct Hemet, CA	3.0	2.0	1543	$3,000	$1.94	44d	1	1.11mi
4400 W Florida Ave Unit 86 Hemet, CA	3.0	2.0	1310	$1,800	$1.37	44d	1	1.13mi
1850 Amberwood Dr Hemet, CA	2.0	2.0	1170	$1,561	$1.33	44d	1	1.15mi
4400 W Florida Ave Spc 26 Hemet, CA	3.0	2.0	1193	$1,699	$1.42	15d	1	1.16mi
471 Whitney Dr Hemet, CA	2.0	2.0	1085	$1,800	$1.66	6d	1	1.16mi
683 Jonquil St Hemet, CA	3.0	2.0	1150	$2,448	$2.13	25d	1	1.18mi
1461 W Mayberry Ave Hemet, CA	2.0	2.0	1044	$1,750	$1.68	44d	1	1.26mi
2971 Pembroke Ave Hemet, CA	3.0	2.0	1572	$3,000	$1.91	19d	1	1.41mi
1967 Connor Ln San Jacinto, CA	3.0	2.5	1708	$2,950	$1.73	8d	1	1.42mi
1521 W Westmont Ave Hemet, CA	2.0	2.0	1197	$2,000	$1.67	44d	1	1.42mi
1844 Paradise Way San Jacinto, CA	3.0	2.0	1540	$3,000	$1.95	44d	1	1.46mi
1241 Sandlewood Dr Hemet, CA	2.0	1.5	1504	$2,000	$1.33	44d	1	1.48mi

Listing history 6 events

1. 2026-06-18
   days on market $69,995 Active 5 DOM
2. 2026-06-17
   days on market $69,995 Active 4 DOM
3. 2026-06-16
   days on market $69,995 Active 3 DOM
4. 2026-06-15
   days on market $69,995 Active 2 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   listed $69,995 Active 1 DOM

ⓘ 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: $163 · $14/mo
• Projected year-2 tax: $532 · $44/mo
• Expected delta: +$369/yr (+$31/mo · 226.2%)

ⓘ 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: $24,829
• − Mortgage interest: −$3,921
• − Property taxes: −$163
• − Insurance: −$350
• − Repairs & maintenance: −$1,986
• − Management: −$1,986
• − Depreciation: −$2,036
• Taxable income: $14,387
• Est. tax owed @ 24.0%: −$3,453
• After-tax cash flow: $11,245/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

+134.1% since first listed

8 events — show timeline

• 2026-06-13 Listed $69,995 CRMLS
• 2019-01-05 Listing Removed — CRMLS
• 2018-09-05 Price Changed $35,000 CRMLS
• 2018-04-23 Price Changed $40,000 CRMLS
• 2018-03-19 Listed $29,000 CRMLS
• 2016-06-17 Delisted — CRMLS
• 2016-02-22 Price Changed $24,900 CRMLS
• 2016-02-11 Listed $29,900 CRMLS

Property tax history

-3.5%/yr

Latest (2025): $163 · +3.0% YoY. Source: county tax records.