4400 W Florida #85 · Hemet, CA 92545

$70,000

3 bd · 2.0 ba · 990 sqft · Manufactured · 25 Days on market

Built 2019 Average condition Est $94k · 26% 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.4/5.0
• Condition / age +2.8/5.0
• Livability +2.6/5.0
• Schools +2.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to the 55+ community of Royal Holiday! This charming home offers comfortable senior living in a well-maintained community conveniently located near shopping, dining, and everyday conveniences. Enjoy an inviting floorplan with abundant natural light, spacious living areas, and a functional layout designed for easy living. The kitchen offers ample cabinet and counter space with an adjacent dining area perfect for everyday meals or entertaining guests. The primary bedroom provides a relaxing retreat with generous closet space and an attached bathroom, while the secondary bedroom offers flexibility for guests, hobbies, or office use. Additional highlights may include inside laundry, cov

Key facts

• Pool and clubhouse
• Covered parking
• Attached bathroom

Tags

• WELL MAINTAINED COMMUNITY
• INVITING FLOORPLAN
• ATTACHED BATHROOM
• COVERED PARKING
• COMMUNITY AMENITIES
• POOL AND CLUBHOUSE

Property features AI

Finance

• Financial info: Land lease of $775 monthly (seller provided); rent includes pool
• HOA & community: Senior community; Suburban location; Park: Royal Holiday; Manager approval required; Pets allowed: call park management

Exterior

• Parking: Attached carport with 2 spaces
• Utilities: Public sewer; District/public water
• Home design: Single unit (mobile home); Single-story; Mobile home remains on site; Model 220CL15662C; Mobile dimensions approximately 15' x 66'; Estimated living area
• Construction: Year built per assessor
• Exterior features: Community pool; Close to clubhouse; Has view

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (furnace); Central cooling
• Interior features: One-level home; Front entry
• Laundry & utility: Laundry inside the home

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $70k. Condition is rated average.

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).
• Recommended offer: $69k (1.5% below list) — sets the bar for market timing.
• Cap rate 27.8% 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+, 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: Cawston Elementary (math 24% / reading 24%, grade F, #973 of 1,571 statewide, top 73%, 835 students, 81% FRL); Rancho Viejo Middle (math 24% / reading 24%, grade F, #277 of 498 statewide, top 73%, 975 students, 88% FRL); Tahquitz High (math 14% / reading 42%, grade F, #777 of 1,170 statewide, top 67%, 1,727 students, 88% FRL) — zoned schools average 86% FRL vs 66% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.7%/yr); 292 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 9d 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 41% 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

• It's been on market 25 days — a 2% lower offer ($69k) is reasonable based on typical stale-listing flexibility.

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 $68,950 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 3.12% ✓
• Cap rate: 27.80%
• Cash-on-cash: 76.80%
• DSCR: 4.42
• GRM: 2.7

CMA / ARV

• ARV (on-the-fly): $94,050
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4400 W Florida #215	0.00mi	2/2.0 (-1)	1,076 (+9%)	2mo	$70,000	$65	79
4400 W Florida Ave #216	0.00mi	2/2.0 (-1)	1,076 (+9%)	23mo	$105,000	$98	61
5001 W Florida Ave #211	0.48mi	2/2.0 (-1)	947 (-4%)	13mo	$90,000	$95	54
5001 W Florida #476	0.54mi	2/2.0 (-1)	1,120 (+13%)	2mo	$45,000	$40	46

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: 77.6%
• Equity multiple: 4.58×
• Total profit: $70,209
• Equity at exit: $10,437

10-year hold

• IRR: 81.4%
• Equity multiple: 9.72×
• Total profit: $170,931
• Equity at exit: $6,052

Cash invested: $19,600 (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: 292
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $2,184 high
• Mortgage (P&I): −$367
• Tax from tax record: −$75 /mo · $896/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$459
• Net cashflow: $1,254

Break-even live

Break-even rent $596

Max offer price $70,000

Occupancy floor 38%

Sensitivity live

Price	-10% $1,294	-5% $1,274	+0% $1,254	+5% $1,235	+10% $1,215
Rent	-10% $1,082	-5% $1,168	+0% $1,254	+5% $1,341	+10% $1,427
Rate	-1.0pp $1,290	-0.5pp $1,272	base $1,254	+0.5pp $1,236	+1.0pp $1,218

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3800 W Devonshire Ave Hemet, CA	3.0	1.0–2.0	816	$2,335	$2.86	0d	7	0.57mi
3030 W Acacia Ave Hemet, CA	1.0–2.0	1.0–2.0	807	$1,780	$2.20	0d	8	0.92mi
2770 W Devonshire Ave Hemet, CA	1.0–2.0	1.0–2.0	707	$1,945	$2.75	0d	10	1.16mi
2469 W Acacia Ave Hemet, CA	2.0	2.0	910	$1,750	$1.92	25d	1	1.28mi
2403 W Acacia Ave Hemet, CA	2.0	2.0	910	$1,995	$2.19	9d	1	1.30mi
2269 San Bernardo Ave Hemet, CA	2.0	1.0	827	$1,650	$2.00	45d	1	1.46mi
2098 W Acacia Ave Hemet, CA	1.0–3.0	1.0–2.0	895	$2,475	$2.77	0d	1	1.49mi
2422 San Padre Ct Hemet, CA	2.0	1.0	827	$1,800	$2.18	25d	1	1.50mi

Listing history 15 events

1. 2026-06-21
   days on market $70,000 Active 25 DOM
2. 2026-06-18
   days on market $70,000 Active 22 DOM
3. 2026-06-17
   days on market $70,000 Active 21 DOM
4. 2026-06-16
   days on market $70,000 Active 20 DOM
5. 2026-06-15
   days on market $70,000 Active 19 DOM
6. 2026-06-13
   days on market $70,000 Active 17 DOM
7. 2026-06-09
   days on market $70,000 Active 13 DOM
8. 2026-06-08
   days on market $70,000 Active 12 DOM
9. 2026-06-07
   days on market $70,000 Active 11 DOM
10. 2026-06-04
    days on market $70,000 Active 8 DOM
11. 2026-06-03
    days on market $70,000 Active 7 DOM
12. 2026-06-02
    days on market $70,000 Active 6 DOM
13. 2026-06-01
    days on market $70,000 Active 5 DOM
14. 2026-05-31
    days on market $70,000 Active 4 DOM
15. 2026-05-27
    listed $70,000 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: $896 · $75/mo
• Projected year-2 tax: $896 · $75/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: $26,206
• − Mortgage interest: −$3,921
• − Property taxes: −$896
• − Insurance: −$350
• − Repairs & maintenance: −$2,096
• − Management: −$2,096
• − Depreciation: −$2,036
• Taxable income: $14,810
• Est. tax owed @ 24.0%: −$3,554
• After-tax cash flow: $11,498/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 · 4 photos

Average 55/100 Moderate rehab

This manufactured home requires moderate repairs and maintenance to improve its condition and value. Painting, updating fixtures, and landscaping improvements can significantly enhance its appeal.

Repairs flagged

• Minor Kitchen countertops — Visible wear and tear.
• Minor Kitchen cabinets — Visible wear and tear.
• Minor Bathroom fixtures — Some wear is visible.
• Minor Exterior siding — Some wear and tear.
• Minor Carpeted flooring — Worn appearance.
• Minor Paint — Faded in some areas.
• Minor Landscaping — Basic and shows some wear.

Value-add opportunities

• Both Painting and updating kitchen and bathroom fixtures — Fresh paint and updated fixtures can significantly enhance the home's appeal and value.
• Both Landscaping improvements — Aesthetic improvements can attract more buyers and renters.
• Both HVAC maintenance and filter change — A clean and functional HVAC system is essential for comfort and energy efficiency.
• Both Flooring replacement — Replacing worn carpet with a more durable and attractive flooring option can greatly increase the home's value.
• Both Kitchen and bathroom updates — Updating countertops and fixtures can make the kitchen and bathrooms more functional and appealing to potential buyers and renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen countertops · Visible wear and tear.	Minor	$500–3,000
Kitchen cabinets · Visible wear and tear.	Minor	$500–3,000
Bathroom fixtures · Some wear is visible.	Minor	$500–3,000
Exterior siding · Some wear and tear.	Minor	$500–3,000
Carpeted flooring · Worn appearance.	Minor	$500–3,000
Paint · Faded in some areas.	Minor	$500–3,000
Landscaping · Basic and shows some wear.	Minor	$500–3,000
Total estimated repair cost · 7 items		$3,500–21,000

Value-add ROI direction

• Both Painting and updating kitchen and bathroom fixtures — Fresh paint and updated fixtures can significantly enhance the home's appeal and value. ↑
• Both Landscaping improvements — Aesthetic improvements can attract more buyers and renters. ↑
• Both HVAC maintenance and filter change — A clean and functional HVAC system is essential for comfort and energy efficiency. ↑
• Both Flooring replacement — Replacing worn carpet with a more durable and attractive flooring option can greatly increase the home's value. ↑
• Both Kitchen and bathroom updates — Updating countertops and fixtures can make the kitchen and bathrooms more functional and appealing to potential buyers and renters. ↑

ⓘ 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): 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

1 event — show timeline

• 2026-05-27 Listed $70,000 CRMLS

Property tax history

+2.6%/yr

Latest (2025): $896 · +7.0% YoY. Source: county tax records.