1455 S State St #192 · Hemet, CA 92543

$139,999

2 bd · 2.0 ba · 1,392 sqft · Manufactured public records · 79 Days on market

Built 1969 $101/sqft · 5% above area Est $138k · at est. ↓ 12% 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 +6.8/15.0
• Rent growth +2.9/5.0
• Livability +2.6/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautifully recently renovated 4-bedroom, 2-bath mobile home located in the heart of Hemet! The interior has been updated to provide a fresh and comfortable living environment, making it move-in ready for its next owners. The community offers great amenities for residents to enjoy, including a clubhouse, convenient laundry facilities, two swimming pools, and relaxing jacuzzis. With generous living space and excellent community features, this home offers both comfort and convenience. Don’t miss the opportunity to make this wonderful home yours!

Key facts

• 2 parking spots
• Community pool
• Built 1969

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $140k.

Deal economics

• At list price, monthly cash flow is $745 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $132k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.7% 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+, schools F, amenities F.
• San Jacinto Unified (suburban): math 13% / reading 36% proficiency, ranked #421 of 517 in CA (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+1.8%/yr); 270 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).
• At $2,168/mo this rent would consume 53% 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 $968 of loan paydown is wiped out by about $4k 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 $39k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.

Recommended offer $131,599 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1969 — 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: 1.55% ✓
• Cap rate: 12.68%
• Cash-on-cash: 22.80%
• DSCR: 2.01
• GRM: 5.4

CMA / ARV

• ARV (median comp): $137,859
• List price: $139,999
• Delta: 1.55%
• Verdict: FAIR
• Comps: 16 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 #213	0.05mi	2/2.0	1,344 (-3%)	2mo	$125,000	$93	90
1455 S State St #241	0.00mi	3/2.0 (+1)	1,344 (-3%)	3mo	$100,000	$74	87
1455 S State St #238	0.00mi	3/2.0 (+1)	1,248 (-10%)	4mo	$145,000	$116	75
1455 S State St #271	0.00mi	3/2.0 (+1)	1,224 (-12%)	9mo	$140,000	$114	67
1097 N State St #515	0.37mi	3/2.0 (+1)	1,344 (-3%)	8mo	$140,000	$104	65
999 S Santa Fe #90	0.72mi	2/2.0	1,404 (+1%)	16mo	$45,000	$32	52
1097 N State St #548	0.37mi	3/2.0 (+1)	1,248 (-10%)	12mo	$140,000	$112	50
1097 N State St #213	0.41mi	3/2.0 (+1)	1,248 (-10%)	13mo	$90,000	$72	48
1600 S San Jacinto Ave #182	0.67mi	2/2.0	1,272 (-9%)	10mo	$41,100	$32	46
913 S Grand Ave #134	0.51mi	2/2.0	1,248 (-10%)	17mo	$104,000	$83	44
913 S Grand Ave #25	0.51mi	3/2.0 (+1)	1,248 (-10%)	16mo	$80,000	$64	40
999 S Santa Fe Ave #92	0.72mi	2/2.0	1,248 (-10%)	18mo	$11,700	$9	34

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: 14.3%
• Equity multiple: 1.56×
• Total profit: $22,116
• Equity at exit: $20,874

10-year hold

• IRR: 22.1%
• Equity multiple: 2.78×
• Total profit: $69,786
• Equity at exit: $12,105

Cash invested: $39,200 (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 92543

• Home prices YoY: -26.7%
• Rents YoY: 1.8%
• Active inventory: 270
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $2,168 high
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,100/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $745

Break-even live

Break-even rent $1,225

Max offer price $139,999

Occupancy floor 61%

Sensitivity live

Price	-10% $842	-5% $793	+0% $745	+5% $696	+10% $648
Rent	-10% $574	-5% $659	+0% $745	+5% $830	+10% $916
Rate	-1.0pp $815	-0.5pp $780	base $745	+0.5pp $709	+1.0pp $672

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
N Santa Fe St GLMN HOT SPGS, CA	2.0–3.0	2.0	1053	$2,350	$2.23	0d	2	0.51mi
1555 S Santa Fe Ave San Jacinto, CA	3.0	2.0	1161	$2,300	$1.98	25d	1	0.54mi
1775 S Santa Fe Ave San Jacinto, CA	3.0	2.0	1300	$2,850	$2.19	0d	1	0.54mi
1569 Willowcreek Loop San Jacinto, CA	2.0	1.5	921	$2,100	$2.28	25d	1	0.57mi
289 Brown St San Jacinto, CA	2.0	1.0	1400	$2,300	$1.64	44d	1	0.99mi
1106 Don Carlos Ct San Jacinto, CA	3.0	2.0	1389	$2,999	$2.16	44d	1	1.01mi
828 Coramdeo Ct Hemet, CA	3.0	2.0	1543	$3,000	$1.94	44d	1	1.02mi
1066 Birch Ln San Jacinto, CA	3.0	2.0	1785	$2,600	$1.46	6d	1	1.06mi
1354 Yorktown Cir San Jacinto, CA	2.0	2.0	1106	$2,100	$1.90	44d	1	1.11mi
148 N Palomar Ave San Jacinto, CA	2.0	2.0	1368	$1,152	$0.84	25d	1	1.13mi
795 Minor St Unit A San Jacinto, CA	2.0	1.0	878	$1,700	$1.94	25d	1	1.16mi
800 Minor St San Jacinto, CA	2.0	1.0	878	$1,600	$1.82	0d	1	1.17mi
344 E 6th St San Jacinto, CA	2.0	1.0	900	$1,900	$2.11	25d	1	1.17mi
784 Minor St Unit B San Jacinto, CA	2.0	1.0	878	$1,700	$1.94	25d	1	1.17mi
748 Minor St Apt F San Jacinto, CA	2.0	1.0	878	$1,600	$1.82	44d	1	1.18mi
700 Minor St San Jacinto, CA	2.0	1.0	878	$1,600	$1.82	44d	1	1.20mi
700 Minor St San Jacinto, CA	2.0	1.0	878	$1,700	$1.94	25d	1	1.20mi
419 Angela Way San Jacinto, CA	3.0	1.0	988	$2,150	$2.18	16d	1	1.20mi
1559 Park Meadows Dr San Jacinto, CA	3.0	2.0	1644	$2,675	$1.63	44d	1	1.30mi
663 Mariposa Dr Hemet, CA	2.0	2.0	1440	$1,500	$1.04	25d	1	1.30mi
1700 Walden Ln Hemet, CA	3.0	2.0	1430	$2,670	$1.87	25d	1	1.30mi
621 S Mistletoe Ave San Jacinto, CA	2.0	2.0	1500	$2,000	$1.33	44d	1	1.32mi
1410 Cottonwood Ave San Jacinto, CA	2.0	1.5	1257	$2,300	$1.83	44d	1	1.35mi
910 E Campus Way Unit 910 Hemet, CA	2.0	1.0	940	$1,550	$1.65	44d	1	1.35mi
1118 E Campus Way Hemet, CA	2.0	2.0	900	$2,200	$2.44	25d	1	1.38mi
165 Tiger Ln San Jacinto, CA	2.0	2.0	1339	$2,150	$1.61	3d	1	1.40mi
2014 Iris Way Hemet, CA	3.0	2.0	1192	$2,850	$2.39	44d	1	1.41mi
446 N Elk St Unit D Hemet, CA	2.0	1.0	980	$1,675	$1.71	25d	1	1.43mi
1844 Paradise Way San Jacinto, CA	3.0	2.0	1540	$3,000	$1.95	44d	1	1.44mi
249 Idyllwild Dr San Jacinto, CA	3.0	2.0	1025	$2,300	$2.24	44d	1	1.46mi
543 La Cresta Dr Hemet, CA	2.0	2.0	1544	$1,595	$1.03	44d	1	1.46mi
2208 El Grande St Hemet, CA	2.0	2.0	1327	$2,100	$1.58	19d	1	1.46mi
2208 El Grande St Hemet, CA	2.0	2.0	1327	$2,000	$1.51	0d	1	1.46mi
1270 Rosalia Ave Unit 1 Hemet, CA	2.0	1.0	900	$1,800	$2.00	44d	1	1.48mi

Listing history 8 events

1. 2026-06-04
   days on market $139,999 Active 79 DOM
2. 2026-06-03
   days on market $139,999 Active 78 DOM
3. 2026-06-01
   days on market $139,999 Active 77 DOM
4. 2026-05-31
   days on market $139,999 Active 76 DOM
5. 2026-05-05
   price $149,999 571-char remark

   Show marketing remark (571 chars)

   Welcome to this beautifully recently renovated 4-bedroom, 2-bath mobile home located in the heart of Hemet! The interior has been updated to provide a fresh and comfortable living environment, making it move-in ready for its next owners. The community offers great amenities for residents to enjoy, including a clubhouse, convenient laundry facilities, two swimming pools, and relaxing jacuzzis. With generous living space and excellent community features, this home offers both comfort and convenience. Don’t miss the opportunity to make this wonderful home yours!

6. 2026-04-06
   price $159,999 571-char remark

   Show marketing remark (571 chars)

   Welcome to this beautifully recently renovated 4-bedroom, 2-bath mobile home located in the heart of Hemet! The interior has been updated to provide a fresh and comfortable living environment, making it move-in ready for its next owners. The community offers great amenities for residents to enjoy, including a clubhouse, convenient laundry facilities, two swimming pools, and relaxing jacuzzis. With generous living space and excellent community features, this home offers both comfort and convenience. Don’t miss the opportunity to make this wonderful home yours!

7. 2026-03-15
   listed $169,999 Active 571-char remark

   Show marketing remark (571 chars)

   Welcome to this beautifully recently renovated 4-bedroom, 2-bath mobile home located in the heart of Hemet! The interior has been updated to provide a fresh and comfortable living environment, making it move-in ready for its next owners. The community offers great amenities for residents to enjoy, including a clubhouse, convenient laundry facilities, two swimming pools, and relaxing jacuzzis. With generous living space and excellent community features, this home offers both comfort and convenience. Don’t miss the opportunity to make this wonderful home yours!

8. 2026-03-12
   historical $169,999 571-char remark

   Show marketing remark (571 chars)

   Welcome to this beautifully recently renovated 4-bedroom, 2-bath mobile home located in the heart of Hemet! The interior has been updated to provide a fresh and comfortable living environment, making it move-in ready for its next owners. The community offers great amenities for residents to enjoy, including a clubhouse, convenient laundry facilities, two swimming pools, and relaxing jacuzzis. With generous living space and excellent community features, this home offers both comfort and convenience. Don’t miss the opportunity to make this wonderful home yours!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $26,010
• − Mortgage interest: −$7,842
• − Property taxes: −$2,100
• − Insurance: −$700
• − Repairs & maintenance: −$2,081
• − Management: −$2,081
• − Depreciation: −$4,073
• Taxable income: $7,134
• Est. tax owed @ 24.0%: −$1,712
• After-tax cash flow: $7,226/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: San Jacinto Unified
• NCES district ID: 0634440
• Math proficiency: 13% ▼ -9.00%
• Reading proficiency: 36% ▬ 0.00%
• Median HH income: $43,560
• Composite: 20.94/100
• National rank: #8478
• State rank: #421 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

-11.8% since first listed

4 events — show timeline

• 2026-05-05 Price Changed $149,999 CRMLS
• 2026-04-06 Price Changed $159,999 CRMLS
• 2026-03-15 Listed $169,999 CRMLS
• 2026-03-12 Coming Soon $169,999 CRMLS

Property tax history

+6.6%/yr

Latest (2025): $185 · +2.0% YoY. Source: county tax records.