4400 Florida · Hemet, CA 92545

$60,000

2 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 117 Days on market

Built 1970 $45/sqft · 12% below area Est $67k · 10% under

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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 +12.1/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 MLS

Welcome to Royal Holiday 55 + Senior Community, this well Maintained Park Offers a calm welcoming Atmosphere with resort style amenities including club house with kitchen and banquet space. sparkling pool and spa, laundry facilities, carwash space, guest parking car. whiting walking distance to shopping store and Fwy 215. Double wide Mobile Home !!!!!!!!! 2 Bedrooms 2 Bath on 1,320 sqf Space 239, Newer AC and Heating. Schedule a Showing Today.

Key facts

• Laundry facilities
• Guest parking
• Club house

Tags

• RESORT STYLE AMENITIES
• CLUB HOUSE
• LAUNDRY FACILITIES
• GUEST PARKING
• WALKING DISTANCE TO SHOPPING

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 ($13k/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: $55k (9.0% below list) — sets the bar for market timing.
• Cap rate 28.5% 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 (+3.7%/yr); 290 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 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 ($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 $415 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 $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 117 days — a 9% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $54,600 (9.0% below list)

Questions for the listing agent

1. It's been on market 117 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 3.19% ✓
• Cap rate: 28.55%
• Cash-on-cash: 79.48%
• DSCR: 4.54
• GRM: 2.6

CMA / ARV

• ARV (median comp): $66,800
• List price: $60,000
• Delta: -10.18%
• 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	0.54mi	2/2.0	1,344 (0%)	4mo	$70,000	$52	72
5001 W Florida Ave W #728	0.54mi	2/2.0	1,344 (0%)	4mo	$56,000	$42	72
5001 W Florida Ave #122	0.48mi	2/2.0	1,296 (-4%)	0mo	$52,500	$41	72
5001 W Florida #171	0.54mi	2/2.0	1,440 (+7%)	1mo	$67,000	$47	62
5001 FLORIDA #311	0.54mi	2/2.0	1,440 (+7%)	1mo	$73,990	$51	62
5001 W Florida #695	0.48mi	2/2.0	1,248 (-7%)	5mo	$45,000	$36	62
5001 W Florida Ave #305	0.54mi	2/2.0	1,440 (+7%)	2mo	$91,000	$63	61
5001 W Florida #661	0.54mi	2/2.0	1,440 (+7%)	3mo	$97,000	$67	60
5001 W Florida Ave #482	0.54mi	2/2.0	1,440 (+7%)	4mo	$55,000	$38	59
5001 W Florida Ave #163	0.54mi	2/2.0	1,440 (+7%)	6mo	$50,000	$35	58
5001 W Florida #524	0.54mi	2/2.0	1,488 (+11%)	3mo	$62,000	$42	54
5001 W Florida Ave #135	0.47mi	2/2.0	1,504 (+12%)	5mo	$55,000	$37	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: 80.4%
• Equity multiple: 4.73×
• Total profit: $62,599
• Equity at exit: $8,946

10-year hold

• IRR: 84.1%
• Equity multiple: 10.04×
• Total profit: $151,823
• Equity at exit: $5,188

Cash invested: $16,800 (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: 2.6×

Monthly cashflow live

• Estimated rent: $1,914 high
• Mortgage (P&I): −$315
• Tax from tax record: −$60 /mo · $719/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $1,113

Break-even live

Break-even rent $506

Max offer price $60,000

Occupancy floor 37%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 15 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	14d	1	0.03mi
4400 W Florida Ave Unit 86 Hemet, CA	3.0	2.0	1310	$1,800	$1.37	43d	1	0.04mi
3800 W Devonshire Ave Hemet, CA	3.0	1.0–2.0	816	$2,055	$2.52	1d	8	0.57mi
3471 Dublin Ct Hemet, CA	3.0	2.0	1276	$2,895	$2.27	3d	1	0.89mi
3030 W Acacia Ave Hemet, CA	1.0–3.0	1.0–2.0	892	$1,895	$2.12	1d	10	0.92mi
2770 W Devonshire Ave Hemet, CA	1.0–2.0	1.0–2.0	707	$1,945	$2.75	1d	11	1.16mi
2971 Pembroke Ave Hemet, CA	3.0	2.0	1572	$3,000	$1.91	18d	1	1.26mi
743 Via Linda Dr Hemet, CA	2.0	2.0	1206	$1,995	$1.65	5d	1	1.26mi
2469 W Acacia Ave Hemet, CA	2.0	2.0	910	$1,750	$1.92	24d	1	1.28mi
2403 W Acacia Ave Hemet, CA	2.0	2.0	910	$1,995	$2.19	7d	1	1.30mi
683 Jonquil St Hemet, CA	3.0	2.0	1150	$2,448	$2.13	24d	1	1.38mi
811 Alondra Dr Hemet, CA	2.0	2.0	1166	$1,875	$1.61	4d	1	1.43mi
2098 W Acacia Ave Hemet, CA	1.0–3.0	1.0–2.0	895	$2,035	$2.27	1d	1	1.49mi
853 Ensenada Dr Hemet, CA	2.0	2.0	1350	$1,875	$1.39	11d	1	1.49mi
853 Ensenada Dr Hemet, CA	2.0	2.0	1350	$1,875	$1.39	24d	1	1.49mi

Listing history 16 events

1. 2026-06-18
   days on market $60,000 Active 117 DOM
2. 2026-06-17
   days on market $60,000 Active 116 DOM
3. 2026-06-16
   days on market $60,000 Active 115 DOM
4. 2026-06-15
   days on market $60,000 Active 114 DOM
5. 2026-06-13
   days on market $60,000 Active 112 DOM
6. 2026-06-09
   days on market $60,000 Active 108 DOM
7. 2026-06-08
   days on market $60,000 Active 107 DOM
8. 2026-06-07
   days on market $60,000 Active 106 DOM
9. 2026-06-04
   days on market $60,000 Active 103 DOM
10. 2026-06-03
    days on market $60,000 Active 102 DOM
11. 2026-06-02
    days on market $60,000 Active 101 DOM
12. 2026-06-01
    days on market $60,000 Active 100 DOM
13. 2026-05-31
    days on market $60,000 Active 99 DOM
14. 2026-02-21
    listed $60,000 Active 448-char remark

    Show marketing remark (448 chars)

    Welcome to Royal Holiday 55 + Senior Community, this well Maintained Park Offers a calm welcoming Atmosphere with resort style amenities including club house with kitchen and banquet space. sparkling pool and spa, laundry facilities, carwash space, guest parking car. whiting walking distance to shopping store and Fwy 215. Double wide Mobile Home !!!!!!!!! 2 Bedrooms 2 Bath on 1,320 sqf Space 239, Newer AC and Heating. Schedule a Showing Today.

15. 2021-11-11
    status Active
16. 2021-10-05
    listed $40,000 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: $719 · $60/mo
• Projected year-2 tax: $719 · $60/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 7/10 Severe 7 d/yr ≥105°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: $22,971
• − Mortgage interest: −$3,361
• − Property taxes: −$719
• − Insurance: −$300
• − Repairs & maintenance: −$1,838
• − Management: −$1,838
• − Depreciation: −$1,745
• Taxable income: $13,170
• Est. tax owed @ 24.0%: −$3,161
• After-tax cash flow: $10,191/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

+50.0% since first listed

3 events — show timeline

• 2026-02-21 Listed $60,000 CRMLS
• 2021-11-11 Relisted — CRMLS
• 2021-10-05 Listed $40,000 CRMLS

Property tax history

+0.5%/yr

Latest (2025): $719 · +2.0% YoY. Source: county tax records.