1445 W Florida Ave #32 · Hemet, CA 92543

$180,000

3 bd · 2.0 ba · 1,200 sqft · Manufactured · 551 Days on market

Built 2024 Excellent condition $150/sqft · 171% above area

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Why this score? — see what drove the C 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 +23.8/30.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Condition / age +4.8/5.0
• Rent growth +2.9/5.0
• Livability +2.6/5.0
• Schools +2.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful Brand NEW ALL Manufactured home 3 bedrooms 2 bath. Open kitchen with a big kitchen island, side pantry & big living room area. This home comes with stainless steel appliances, side by side refrigerator dishwasher, stove, over the range microwave, central a/c and heating. Window treatment in all windows. high windows, high ceilings. Nice big front porch with brick skirting and a nice planter, two car, carport with awnings. The home is located in the best all age community in Hemet with a large clubhouse, swimming pool, sport court, laundry facility, playground, gym, and a gated community to be locked at night.

Key facts

• Big kitchen island
• Big living room area
• High ceilings

Tags

• OPEN KITCHEN
• BIG KITCHEN ISLAND
• SIDE PANTRY
• STAINLESS STEEL APPLIANCES
• BIG LIVING ROOM AREA
• HIGH CEILINGS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $180k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $345 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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 (+1.8%/yr); 264 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 $2,011/mo this rent would consume 49% 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 $1k of loan paydown is wiped out by about $5k 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 551 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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: extreme-heat days projected 6→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $158,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 551 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.12% ✓
• Cap rate: 8.59%
• Cash-on-cash: 8.21%
• DSCR: 1.37
• GRM: 7.5

CMA / ARV

• ARV (median comp): $66,452
• List price: $180,000
• Delta: 170.87%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1445 W Florida Ave #85	0.00mi	2/2.0 (-1)	1,040 (-13%)	2mo	$96,000	$92	72
332 N Lyon Ave #67	0.35mi	2/2.0 (-1)	1,248 (+4%)	3mo	$49,500	$40	69
430 N Palm #102	0.58mi	2/1.5 (-1)	1,200 (0%)	2mo	$45,000	$38	64
2205 W Acacia Ave #6	0.61mi	3/2.0	1,250 (+4%)	2mo	$130,000	$104	63
1895 W Devonshire Ave #74	0.36mi	3/2.0	1,344 (+12%)	2mo	$80,000	$60	61
1380 Cabrillo	0.58mi	2/2.0 (-1)	1,152 (-4%)	2mo	$260,000	$226	60
1895 W Devonshire #20	0.36mi	2/2.0 (-1)	1,344 (+12%)	1mo	$44,000	$33	57
230 San Mateo	0.73mi	2/2.0 (-1)	1,198 (-0%)	5mo	$115,000	$96	56
1895 W Devonshire Ave #76	0.36mi	2/2.0 (-1)	1,344 (+12%)	4mo	$55,000	$41	55
1895 W Devonshire Ave #27	0.36mi	2/2.0 (-1)	1,040 (-13%)	3mo	$45,000	$43	53
360 Santa Clara Cir	0.75mi	2/2.0 (-1)	1,120 (-7%)	3mo	$224,000	$200	46
332 N Lyon #57	0.70mi	2/2.0 (-1)	1,040 (-13%)	1mo	$35,000	$34	39

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: -5.2%
• Equity multiple: 0.81×
• Total profit: $-9,645
• Equity at exit: $26,839

10-year hold

• IRR: 2.9%
• Equity multiple: 1.20×
• Total profit: $10,094
• Equity at exit: $15,563

Cash invested: $50,400 (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: 264
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,011 high
• Mortgage (P&I): −$944
• Tax est. 1.5%: −$225 /mo · $2,700/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $345

Break-even live

Break-even rent $1,575

Max offer price $180,000

Occupancy floor 78%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1315 W Latham Ave Hemet, CA	3.0	2.5	1340	$2,550	$1.90	44d	1	0.13mi
250 N Elk St Hemet, CA	2.0	1.0	900	$1,625	$1.81	14d	1	0.24mi
1850 Amberwood Dr Hemet, CA	2.0	2.0	1170	$1,561	$1.33	44d	1	0.42mi
1270 Rosalia Ave Unit 1 Hemet, CA	2.0	1.0	900	$1,800	$2.00	44d	1	0.43mi
471 Whitney Dr Hemet, CA	2.0	2.0	1085	$1,800	$1.66	5d	1	0.46mi
2098 W Acacia Ave Hemet, CA	1.0–3.0	1.0–2.0	895	$2,475	$2.77	2d	1	0.46mi
1461 W Mayberry Ave Hemet, CA	2.0	2.0	1044	$1,750	$1.68	44d	1	0.48mi
446 N Elk St Unit D Hemet, CA	2.0	1.0	980	$1,675	$1.71	24d	1	0.50mi
1887 Calle Amargosa Hemet, CA	2.0	1.0	827	$1,545	$1.87	24d	1	0.50mi
341 Calle Nogales Hemet, CA	2.0	1.0	827	$1,395	$1.69	44d	1	0.53mi
471 S Simpson Ave Unit D Hemet, CA	2.0	2.0	900	$1,750	$1.94	44d	1	0.57mi
1862 Pueblo Dr Hemet, CA	2.0	2.0	977	$1,900	$1.94	44d	1	0.58mi
1862 Pueblo Dr Unit 1862 Hemet, CA	2.0	2.0	977	$1,750	$1.79	24d	1	0.58mi
2054 Avenida Olivos Hemet, CA	2.0	1.0	820	$1,500	$1.83	44d	1	0.61mi
363 S Gilbert St Hemet, CA	3.0	2.0	1200	$1,900	$1.58	4d	1	0.65mi
363 S Gilbert St Unit B Hemet, CA	3.0	2.0	1200	$1,900	$1.58	14d	1	0.65mi
1964 W Oakland Ave Hemet, CA	2.0	2.0	977	$1,695	$1.73	18d	1	0.65mi
611 S Palm Ave Unit K Hemet, CA	2.0	2.0	1254	$1,895	$1.51	8d	1	0.65mi
2403 W Acacia Ave Hemet, CA	2.0	2.0	910	$1,995	$2.19	8d	1	0.66mi
2120 San Bernardo Ave Hemet, CA	2.0	1.0	827	$2,100	$2.54	44d	1	0.66mi
663 Mariposa Dr Hemet, CA	2.0	2.0	1440	$1,500	$1.04	24d	1	0.68mi
2469 W Acacia Ave Hemet, CA	2.0	2.0	910	$1,750	$1.92	24d	1	0.68mi
627 Solano Dr Hemet, CA	2.0	2.0	882	$1,800	$2.04	18d	1	0.69mi
1521 W Westmont Ave Hemet, CA	2.0	2.0	1197	$2,000	$1.67	44d	1	0.70mi
2269 San Bernardo Ave Hemet, CA	2.0	1.0	827	$1,650	$2.00	44d	1	0.72mi
528 San Marino St Hemet, CA	2.0	1.0	827	$1,900	$2.30	44d	1	0.78mi
876 W Whittier Ave Unit 878 Hemet, CA	2.0	2.0	1127	$2,150	$1.91	24d	1	0.78mi
1931 Nuevo St Hemet, CA	2.0	1.0	820	$1,600	$1.95	44d	1	0.79mi
1933 Nuevo St Hemet, CA	2.0	1.0	827	$1,700	$2.06	24d	1	0.79mi
101 San Mateo Cir Hemet, CA	2.0	2.0	1152	$1,725	$1.50	17d	1	0.83mi
120 Santa Lucia Dr Hemet, CA	2.0	2.0	1197	$1,600	$1.34	44d	1	0.86mi
682 San Marino St Hemet, CA	2.0	1.0	827	$1,600	$1.93	44d	1	0.88mi
2770 W Devonshire Ave Hemet, CA	1.0–2.0	1.0–2.0	707	$1,945	$2.75	2d	11	0.92mi
1700 Walden Ln Hemet, CA	3.0	2.0	1430	$2,670	$1.87	24d	1	0.92mi
735 S Gilbert St Hemet, CA	3.0	2.0	1202	$2,400	$2.00	44d	1	0.94mi
683 Jonquil St Hemet, CA	3.0	2.0	1150	$2,448	$2.13	24d	1	0.95mi
2488 San Padre Ct Hemet, CA	2.0	1.0	827	$1,599	$1.93	14d	1	0.96mi
750 Santa Clara Cir Hemet, CA	2.0	2.0	800	$1,400	$1.75	15d	1	0.98mi
3030 W Acacia Ave Hemet, CA	1.0–3.0	1.0–2.0	892	$2,195	$2.46	2d	10	1.00mi
2422 San Padre Ct Hemet, CA	2.0	1.0	827	$1,800	$2.18	24d	1	1.00mi

Listing history 15 events

1. 2026-06-18
   days on market $180,000 Active 551 DOM
2. 2026-06-17
   days on market $180,000 Active 550 DOM
3. 2026-06-16
   days on market $180,000 Active 549 DOM
4. 2026-06-15
   days on market $180,000 Active 548 DOM
5. 2026-06-13
   days on market $180,000 Active 546 DOM
6. 2026-06-09
   days on market $180,000 Active 542 DOM
7. 2026-06-08
   days on market $180,000 Active 541 DOM
8. 2026-06-07
   days on market $180,000 Active 540 DOM
9. 2026-06-04
   days on market $180,000 Active 537 DOM
10. 2026-06-03
    days on market $180,000 Active 536 DOM
11. 2026-06-02
    days on market $180,000 Active 535 DOM
12. 2026-06-01
    days on market $180,000 Active 534 DOM
13. 2026-05-31
    days on market $180,000 Active 533 DOM
14. 2025-05-15
    status Active 632-char remark

    Show marketing remark (632 chars)

    Beautiful Brand NEW ALL Manufactured home 3 bedrooms 2 bath. Open kitchen with a big kitchen island, side pantry & big living room area. This home comes with stainless steel appliances, side by side refrigerator dishwasher, stove, over the range microwave, central a/c and heating. Window treatment in all windows. high windows, high ceilings. Nice big front porch with brick skirting and a nice planter, two car, carport with awnings. The home is located in the best all age community in Hemet with a large clubhouse, swimming pool, sport court, laundry facility, playground, gym, and a gated community to be locked at night.

15. 2024-12-13
    listed $180,000 Active 632-char remark

    Show marketing remark (632 chars)

    Beautiful Brand NEW ALL Manufactured home 3 bedrooms 2 bath. Open kitchen with a big kitchen island, side pantry & big living room area. This home comes with stainless steel appliances, side by side refrigerator dishwasher, stove, over the range microwave, central a/c and heating. Window treatment in all windows. high windows, high ceilings. Nice big front porch with brick skirting and a nice planter, two car, carport with awnings. The home is located in the best all age community in Hemet with a large clubhouse, swimming pool, sport court, laundry facility, playground, gym, and a gated community to be locked at night.

ⓘ 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 1/10 Low
• 🌡 Heat 7/10 Severe 6 d/yr ≥104°F today · 18 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: $24,135
• − Mortgage interest: −$10,083
• − Property taxes: −$2,700
• − Insurance: −$900
• − Repairs & maintenance: −$1,931
• − Management: −$1,931
• − Depreciation: −$5,236
• Taxable income: $1,354
• Est. tax owed @ 24.0%: −$325
• After-tax cash flow: $3,814/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 · 13 photos

Excellent 95/100 None rehab

This beautiful, brand-new manufactured home is in excellent condition with modern finishes and a well-maintained exterior. It offers a spacious kitchen, two bathrooms, and a large front porch. The home is located in a desirable community with amenities such as a clubhouse, swimming pool, and playground. The interior walls and ceilings could benefit from a fresh coat of paint, and updating the flooring and appliances would further enhance its appeal.

Value-add opportunities

• Resale Painting the interior walls and ceilings — Fresh paint can make a home look more inviting and modern, which can increase its resale value.
• Resale Updating the flooring in the bathrooms — Replacing old or worn-out flooring with something more modern can increase the home's appeal and value.
• Resale Upgrading the kitchen appliances — Modern appliances can make the kitchen more functional and appealing to potential buyers.
• Both Landscaping improvements — Enhancing the landscaping can improve the home's curb appeal and increase both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Resale Painting the interior walls and ceilings — Fresh paint can make a home look more inviting and modern, which can increase its resale value. ↑
• Resale Updating the flooring in the bathrooms — Replacing old or worn-out flooring with something more modern can increase the home's appeal and value. ↑
• Resale Upgrading the kitchen appliances — Modern appliances can make the kitchen more functional and appealing to potential buyers. ↑
• Both Landscaping improvements — Enhancing the landscaping can improve the home's curb appeal and increase both resale and rental value. ↑

ⓘ 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

2 events — show timeline

• 2025-05-15 Relisted — CRMLS
• 2024-12-13 Listed $180,000 CRMLS