1536 S state St #112 · Hemet, CA 92543

$259,900

3 bd · 2.0 ba · 1,782 sqft · Manufactured · 52 Days on market

Built 2025 Good condition $146/sqft · 44% above area Est $180k · 44% over

---

Why this score? — see what drove the D 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 +19.0/30.0
• DSCR +6.0/10.0
• 1% rule +5.1/10.0
• Condition / age +4.0/5.0
• Rent growth +2.9/5.0
• Livability +2.6/5.0
• Schools +2.5/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Beautiful brand-new 2026 home 1,782 square feet , 3-bedroom, 2-bath mobile home on a Huge corner lot located in Hemet’s award-winning #1 all-ages park , This home features an open floor plan with a spacious kitchen, large center island, and walk-in pantry—perfect for entertaining and everyday living. The kitchen opens seamlessly to the living room, creating a bright inviting space, Ceiling fans are installed throughout the home for added comfort. Exterior features include a storage shed, a large carport accommodating 2–3 vehicles, and a charming front porch ideal for enjoying stunning views. Enjoy the community pool and park for the kids with clubhouse and activities, Don&

Key facts

• 2 parking spots
• Community pool
• Built 2025

Property features AI

Finance

• Other: Directions: When you enter the park off of State Street go straight to the stop sign on Roadrunner, turn right on Robin St — home is at the end of the street
• HOA & community: Located in Saddleback park; Community features: Valley; Manager approval required; Land lease: $1,499 monthly (park)

Exterior

• Parking: Attached carport for 2 cars; Has parking
• Security: Automatic gate
• Utilities: Public sewer; District/public water
• Home design: Manufactured/mobile home (mobile remains); Single-story; Turnkey condition; Entry at front door; Entry level: 1
• Construction: Shingle roof; Brick skirt
• Exterior features: Front porch; Patio; Community pool; Shed (1); Sprinklers with drip system; Brick skirt; Shingle roof; Has view

Interior

• Kitchen: Kitchen open to family room; Kitchen island; Walk-in pantry; Quartz counters; Utility sink; Energy Star appliances; Garbage disposal; Microwave; Refrigerator with water line; Self-cleaning oven; Gas range and gas oven; Vented exhaust fan; Water heater unit
• Bedrooms: Primary bedroom with walk-in closet
• Flooring: Vinyl flooring; Carpet
• Bathrooms: Two full bathrooms; Double sinks in primary bath; Walk-in shower; Shower in tub; Privacy toilet door; Exhaust fan(s); Closet in bathroom
• Heating & cooling: Central heating (furnace); Central cooling; Wall/window cooling units
• Interior features: Quartz counters throughout; Ceiling fan(s); Pantry; Blinds; Automatic gate (security); Community spa
• Laundry & utility: Inside laundry in a dedicated room; Individual laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $260k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $269 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $260k).
• Recommended offer: $252k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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: Mcsweeny Elementary (746 students, 90% FRL); Diamond Valley Middle (math 10% / reading 10%, grade F, #474 of 498 statewide, top 99%, 1,078 students, 91% FRL); West Valley High (math 18% / reading 40%, grade F, #770 of 1,170 statewide, top 66%, 1,898 students, 88% FRL) — zoned schools average 90% FRL vs 66% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.8%/yr); 273 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).
• At $2,615/mo this rent would consume 64% 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 $2k of loan paydown is wiped out by about $8k 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.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($252k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 6→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $252,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.01% ✓
• Cap rate: 7.54%
• Cash-on-cash: 4.44%
• DSCR: 1.20
• GRM: 8.3

CMA / ARV

• ARV (median comp): $180,000
• List price: $259,900
• Delta: 44.39%
• Verdict: OVERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1457 Martinique Dr	0.31mi	2/2.0 (-1)	1,744 (-2%)	1mo	$300,000	$172	76
521 Bermuda Dr	0.29mi	2/2.0 (-1)	1,672 (-6%)	3mo	$285,000	$170	69
1456 Saint Croix Dr	0.32mi	3/2.0	1,674 (-6%)	14mo	$299,000	$179	63
1536 S State St #56	0.13mi	3/2.0	1,620 (-9%)	21mo	$205,000	$127	61
1536 S State St #57	0.13mi	3/2.0	1,620 (-9%)	23mo	$218,500	$135	60
1536 S State St #180	0.20mi	3/2.0	1,542 (-14%)	12mo	$200,000	$130	59
1444 Saint Croix Dr	0.33mi	3/2.0	2,036 (+14%)	8mo	$352,000	$173	55

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: -10.8%
• Equity multiple: 0.61×
• Total profit: $-28,134
• Equity at exit: $38,752

10-year hold

• IRR: -3.3%
• Equity multiple: 0.79×
• Total profit: $-15,135
• Equity at exit: $22,471

Cash invested: $72,772 (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: 273
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,615 high
• Mortgage (P&I): −$1,363
• Tax est. 1.5%: −$325 /mo · $3,898/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$549
• Net cashflow: $269

Break-even live

Break-even rent $2,274

Max offer price $259,900

Occupancy floor 85%

Sensitivity live

Price	-10% $449	-5% $359	+0% $269	+5% $180	+10% $90
Rent	-10% $63	-5% $166	+0% $269	+5% $373	+10% $476
Rate	-1.0pp $400	-0.5pp $336	base $269	+0.5pp $202	+1.0pp $134

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: $64,975
• Closing costs: $7,797
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
640 Vista del Monte Hemet, CA	3.0	2.0	1480	$2,650	$1.79	45d	1	0.53mi
795 Cameo Ave Hemet, CA	4.0	2.0	1600	$2,900	$1.81	16d	1	0.57mi
1460 Caprice Ct Hemet, CA	4.0	3.0	1898	$3,250	$1.71	26d	1	0.74mi
716 Robert Dr Hemet, CA	3.0	2.0	1450	$2,300	$1.59	7d	1	0.97mi
1018 San Nicolas St Hemet, CA	2.0	2.0	2448	$1,750	$0.71	20d	1	1.04mi
611 S Palm Ave Unit K Hemet, CA	2.0	2.0	1254	$1,895	$1.51	9d	1	1.28mi
26450 San Jacinto St Hemet, CA	3.0	2.0	1250	$2,295	$1.84	5d	1	1.28mi
1241 Sandlewood Dr Hemet, CA	2.0	1.5	1504	$2,000	$1.33	45d	1	1.33mi
1955 Silver Oak Way Hemet, CA	3.0	2.0	1318	$2,250	$1.71	45d	1	1.40mi
415 S Tahquitz Ave Hemet, CA	3.0	2.0	1766	$2,900	$1.64	20d	1	1.44mi
310 S Carmalita St Hemet, CA	3.0	2.0	2100	$3,200	$1.52	45d	1	1.48mi

Listing history 15 events

1. 2026-06-21
   days on market $259,900 Active 52 DOM
2. 2026-06-18
   days on market $259,900 Active 49 DOM
3. 2026-06-17
   days on market $259,900 Active 48 DOM
4. 2026-06-16
   days on market $259,900 Active 47 DOM
5. 2026-06-15
   days on market $259,900 Active 46 DOM
6. 2026-06-13
   days on market $259,900 Active 44 DOM
7. 2026-06-09
   days on market $259,900 Active 40 DOM
8. 2026-06-08
   days on market $259,900 Active 39 DOM
9. 2026-06-07
   days on market $259,900 Active 38 DOM
10. 2026-06-04
    days on market $259,900 Active 35 DOM
11. 2026-06-03
    days on market $259,900 Active 34 DOM
12. 2026-06-02
    days on market $259,900 Active 33 DOM
13. 2026-06-01
    days on market $259,900 Active 32 DOM
14. 2026-05-31
    days on market $259,900 Active 31 DOM
15. 2026-04-30
    listed $259,900 Active 794-char remark

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

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 6 d/yr ≥102°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: $31,376
• − Mortgage interest: −$14,558
• − Property taxes: −$3,898
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,510
• − Management: −$2,510
• − Depreciation: −$7,561
• Taxable loss: −$961
• Est. tax savings @ 24.0%: +$231
• After-tax cash flow: $3,465/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 · 12 photos

Good 80/100 None rehab

This brand-new 2026 mobile home is in excellent condition with modern features and a spacious floor plan. It offers a great opportunity for investors looking to rent or sell in a desirable location.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Installing new flooring in the kitchen and bathrooms — New flooring can improve the look and feel of the home, making it more appealing to potential buyers and renters.
• Both Upgrading the kitchen appliances — Modern appliances can make the kitchen more functional and attractive to potential buyers and renters.
• Both Adding a small outdoor patio or garden area — An outdoor space can increase the home's appeal and functionality, making it more attractive to potential buyers and renters.
• Both Upgrading the HVAC system — A more efficient HVAC system can improve comfort and energy efficiency, making the home more attractive to potential buyers and renters.
• Both Adding a small outdoor patio or garden area — An outdoor space can increase the home's appeal and functionality, making it more attractive to potential buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Installing new flooring in the kitchen and bathrooms — New flooring can improve the look and feel of the home, making it more appealing to potential buyers and renters. ↑
• Both Upgrading the kitchen appliances — Modern appliances can make the kitchen more functional and attractive to potential buyers and renters. ↑
• Both Adding a small outdoor patio or garden area — An outdoor space can increase the home's appeal and functionality, making it more attractive to potential buyers and renters. ↑
• Both Upgrading the HVAC system — A more efficient HVAC system can improve comfort and energy efficiency, making the home more attractive to potential buyers and renters. ↑
• Both Adding a small outdoor patio or garden area — An outdoor space can increase the home's appeal and functionality, making it more attractive 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): 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

1 event — show timeline

• 2026-04-30 Listed $259,900 CRMLS