5001 W Florida #131 · Hemet, CA 92545

$57,500

2 bd · 2.0 ba · 1,440 sqft · Manufactured public records · 3 Days on market

Built 1973 Est $68k · 15% 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 +14.3/15.0
• 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

This home is an adorable double wide that has been refreshed. Newly painted inside and out with new flooring as well. The home is in a senior retirement community with a huge amount of amenities. Move in ready.

Key facts

• Reimagined kitchen
• Indoor laundry
• Community pool

Tags

• RECENTLY UPDATED FLOORING
• REIMAGINED KITCHEN
• INDOOR LAUNDRY
• RECENTLY REPLACED HVAC SYSTEM
• ACROSS THE STREET FROM LAKES

Property features AI

Finance

• Other: Park name: The Lakes At Hemet West
• Financial info: Land lease required (seller-provided amount): $985 monthly — rent includes pool; Manager approval required for residency; Pets subject to restrictions/breed rules
• HOA & community: Senior community; Association amenities include pool, spa, clubhouse, gym/exercise room, tennis and pickleball courts, golf, sport courts, billiard room, banquet/meeting rooms, picnic and barbecue/outdoor cooking areas, dog park, common RV parking, maintenance of grounds, controlled access and guard; Community features: golf course, biking, dog park, fishing, lake, street lighting, park

Exterior

• Parking: Covered parking; Attached carport (oversized); Paved parking
• Security: Gated with attendant/guard; Automatic gate; Controlled access and card/code access
• Utilities: Private water; Private sewer
• Home design: Single-story manufactured/mobile style (mobile width 24', length 60'); Entry level: 1; One story; Updated/remodeled and turnkey; Has a view
• Construction: Pillar/post/pier foundation with pier jacks; Year built per assessor
• Exterior features: Front porch; Patio; Awning; Rain gutters; Community pool (in-ground, heated); Community spa; Private road with maintained, paved surface; Lake and park nearby

Interior

• Kitchen: Remodeled kitchen; Formica and laminate counters; Gas range; Range/stove hood; Dishwasher; Garbage disposal; Refrigerator; Water heater unit
• Bedrooms: Primary bedroom on main floor; All bedrooms on ground level; Primary suite with primary bathroom
• Flooring: Carpet
• Bathrooms: Two full bathrooms; Shower and shower-in-tub options
• Heating & cooling: Central heating (furnace); Central cooling
• Interior features: One-level home; Front porch and carport entry; Turnkey, updated/remodeled condition; Smoke and carbon monoxide detectors; Gated community with guarded/controlled access and card/code entry; Community spa (in-ground, heated)
• Laundry & utility: Indoor laundry room; Washer and dryer included; Washer hookup and gas dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $58k.

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 $58k).
• Cap rate 32.4% 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; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).
• This rent runs 38% 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 $398 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 $16k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 7y 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.
• Current owner paid $35k; list at $58k implies a 64% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 3→9/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $57,500

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
6. 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.
7. 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: 3.49% ✓
• Cap rate: 32.40%
• Cash-on-cash: 93.24%
• DSCR: 5.15
• GRM: 2.4

CMA / ARV

• ARV (on-the-fly): $67,680
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5001 W Florida #171	0.24mi	2/2.0	1,440 (0%)	1mo	$67,000	$47	88
5001 FLORIDA #311	0.24mi	2/2.0	1,440 (0%)	1mo	$73,990	$51	88
5001 W Florida Ave #305	0.24mi	2/2.0	1,440 (0%)	2mo	$91,000	$63	87
5001 W Florida #661	0.24mi	2/2.0	1,440 (0%)	3mo	$97,000	$67	86
5001 W Florida Ave #482	0.24mi	2/2.0	1,440 (0%)	4mo	$55,000	$38	85
5001 W Florida #524	0.24mi	2/2.0	1,488 (+3%)	3mo	$62,000	$42	81
5001 W Florida Ave #135	0.26mi	2/2.0	1,504 (+4%)	5mo	$55,000	$37	76
5001 W Florida #618	0.24mi	2/2.0	1,344 (-7%)	4mo	$70,000	$52	75
5001 W Florida Ave W #728	0.24mi	2/2.0	1,344 (-7%)	4mo	$56,000	$42	75
5001 W Florida Ave #122	0.25mi	2/2.0	1,296 (-10%)	0mo	$52,500	$41	71
5001 W Florida Ave #139	0.24mi	2/2.0	1,560 (+8%)	5mo	$105,000	$67	70
5001 W Florida #695	0.25mi	2/2.0	1,248 (-13%)	5mo	$45,000	$36	62

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: 94.8%
• Equity multiple: 5.46×
• Total profit: $71,860
• Equity at exit: $8,573

10-year hold

• IRR: 97.7%
• Equity multiple: 11.65×
• Total profit: $171,421
• Equity at exit: $4,972

Cash invested: $16,100 (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: 2.4×

Monthly cashflow live

• Estimated rent: $2,009 high
• Mortgage (P&I): −$302
• Tax from tax record: −$11 /mo · $128/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $1,251

Break-even live

Break-even rent $425

Max offer price $57,500

Occupancy floor 33%

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: $14,375
• Closing costs: $1,725
• Reserves months: —
• Total cash needed: —

Rent comps 5 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	15d	1	0.72mi
4400 W Florida Ave Unit 86 Hemet, CA	3.0	2.0	1310	$1,800	$1.37	44d	1	0.75mi
3800 W Devonshire Ave Hemet, CA	3.0	1.0–2.0	816	$2,055	$2.52	2d	8	1.28mi
3030 W Acacia Ave Hemet, CA	1.0–3.0	1.0–2.0	892	$1,895	$2.12	2d	10	1.49mi
2971 Pembroke Ave Hemet, CA	3.0	2.0	1572	$3,000	$1.91	18d	1	1.49mi

Listing history 4 events

1. 2026-06-18
   days on market $57,500 Active 3 DOM
2. 2026-06-17
   days on market $57,500 Active 2 DOM
3. 2026-06-16
   remarks 699-char remark
4. 2026-06-16
   listed $57,500 Active 1 DOM

ⓘ 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: $128 · $11/mo
• Projected year-2 tax: $437 · $36/mo
• Expected delta: +$309/yr (+$26/mo · 242.3%)

ⓘ 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 3 d/yr ≥105°F today · 9 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: $24,109
• − Mortgage interest: −$3,221
• − Property taxes: −$128
• − Insurance: −$288
• − Repairs & maintenance: −$1,929
• − Management: −$1,929
• − Depreciation: −$1,673
• Taxable income: $14,943
• Est. tax owed @ 24.0%: −$3,586
• After-tax cash flow: $11,426/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

+51.3% since first listed

4 events — show timeline

• 2026-06-15 Listed $57,500 CRMLS
• 2019-12-09 Sold (MLS) $35,000 CRMLS
• 2019-11-11 Pending — CRMLS
• 2019-03-19 Listed $38,000 CRMLS

Property tax history

+4.7%/yr

Latest (2025): $128 · +3.3% YoY. Source: county tax records.