1895 W Devonshire Ave #101 · Hemet, CA 92545

$29,900

2 bd · 2.0 ba · 1,440 sqft · Manufactured public records · 187 Days on market

Built 1975 $21/sqft · 47% below area Est $52k · 43% under ↓ 27% since listing

---

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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

2 bedroom 2 bath mobile home located in Sunburst gated senior mobile home park. More information to follow.

Key facts

• 2 parking spots
• Community pool
• Built 1975

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $30k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $30k).
• Recommended offer: $26k (12.0% below list) — sets the bar for market timing.
• Cap rate 62.1% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 37% 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 $207 of loan paydown is wiped out by about $897 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 $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 187 days — a 12% lower offer ($26k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $26,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 187 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — 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: 6.65% ✓
• Cap rate: 62.09%
• Cash-on-cash: 199.26%
• DSCR: 9.87
• GRM: 1.3

CMA / ARV

• ARV (median comp): $52,250
• List price: $29,900
• Delta: -42.78%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1895 W Devonshire #20	0.00mi	2/2.0	1,344 (-7%)	1mo	$44,000	$33	88
1895 W Devonshire Ave #74	0.00mi	3/2.0 (+1)	1,344 (-7%)	2mo	$80,000	$60	82
1525 W Oakland Ave #62	0.35mi	2/2.0	1,440 (0%)	2mo	$40,000	$28	81
1445-#88 W Florida	0.36mi	3/2.0 (+1)	1,440 (0%)	1mo	$124,000	$86	77
1420 Cabrillo Dr	0.48mi	2/2.0	1,440 (0%)	1mo	$247,500	$172	76
542 Castille	0.42mi	2/2.0	1,392 (-3%)	2mo	$239,000	$172	73
2205 acacia #62	0.60mi	2/2.0	1,400 (-3%)	1mo	$73,000	$52	67
601 Kirby St N #451	0.74mi	2/2.0	1,440 (0%)	0mo	$60,000	$42	65
601 N Kirby St #501	0.75mi	2/2.0	1,440 (0%)	0mo	$49,000	$34	65
601 Kirby St N #235	0.75mi	2/2.0	1,440 (0%)	3mo	$84,000	$58	63
2205 W Acacia Ave #6	0.63mi	3/2.0 (+1)	1,250 (-13%)	2mo	$130,000	$104	42
601 N Kirby St #267	0.75mi	2/2.0	1,248 (-13%)	3mo	$82,250	$66	41

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: —
• Equity multiple: 11.18×
• Total profit: $85,200
• Equity at exit: $4,458

10-year hold

• IRR: —
• Equity multiple: 24.23×
• Total profit: $194,467
• Equity at exit: $2,585

Cash invested: $8,372 (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: 1.3×

Monthly cashflow live

• Estimated rent: $1,988 high
• Mortgage (P&I): −$157
• Tax from tax record: −$11 /mo · $133/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$417
• Net cashflow: $1,390

Break-even live

Break-even rent $228

Max offer price $29,900

Occupancy floor 25%

Sensitivity live

Price	-10% $1,407	-5% $1,399	+0% $1,390	+5% $1,382	+10% $1,373
Rent	-10% $1,233	-5% $1,312	+0% $1,390	+5% $1,469	+10% $1,547
Rate	-1.0pp $1,405	-0.5pp $1,398	base $1,390	+0.5pp $1,382	+1.0pp $1,375

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: $7,475
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1862 Pueblo Dr Hemet, CA	2.0	2.0	977	$1,900	$1.94	44d	1	0.30mi
1862 Pueblo Dr Unit 1862 Hemet, CA	2.0	2.0	977	$1,750	$1.79	25d	1	0.30mi
1964 W Oakland Ave Hemet, CA	2.0	2.0	977	$1,695	$1.73	18d	1	0.35mi
1315 W Latham Ave Hemet, CA	3.0	2.5	1340	$2,550	$1.90	44d	1	0.36mi
250 N Elk St Hemet, CA	2.0	1.0	900	$1,625	$1.81	14d	1	0.37mi
627 Solano Dr Hemet, CA	2.0	2.0	882	$1,800	$2.04	19d	1	0.42mi
2098 W Acacia Ave Hemet, CA	1.0–3.0	1.0–2.0	895	$2,035	$2.27	0d	1	0.42mi
543 La Cresta Dr Hemet, CA	2.0	2.0	1544	$1,595	$1.03	44d	1	0.43mi
1270 Rosalia Ave Unit 1 Hemet, CA	2.0	1.0	900	$1,800	$2.00	44d	1	0.44mi
446 N Elk St Unit D Hemet, CA	2.0	1.0	980	$1,675	$1.71	25d	1	0.46mi
2403 W Acacia Ave Hemet, CA	2.0	2.0	910	$1,995	$2.19	8d	1	0.56mi
2469 W Acacia Ave Hemet, CA	2.0	2.0	910	$1,750	$1.92	25d	1	0.57mi
663 Mariposa Dr Hemet, CA	2.0	2.0	1440	$1,500	$1.04	25d	1	0.57mi
2770 W Devonshire Ave Hemet, CA	1.0–2.0	1.0–2.0	707	$1,945	$2.75	0d	10	0.57mi
1850 Amberwood Dr Hemet, CA	2.0	2.0	1170	$1,561	$1.33	44d	1	0.63mi
471 Whitney Dr Hemet, CA	2.0	2.0	1085	$1,800	$1.66	6d	1	0.65mi
1700 Walden Ln Hemet, CA	3.0	2.0	1430	$2,670	$1.87	25d	1	0.70mi
1461 W Mayberry Ave Hemet, CA	2.0	2.0	1044	$1,750	$1.68	44d	1	0.73mi
2014 Iris Way Hemet, CA	3.0	2.0	1192	$2,850	$2.39	44d	1	0.75mi
3030 W Acacia Ave Hemet, CA	1.0–2.0	1.0–2.0	807	$1,785	$2.21	0d	8	0.79mi
828 Coramdeo Ct Hemet, CA	3.0	2.0	1543	$3,000	$1.94	44d	1	0.86mi
415 S Tahquitz Ave Hemet, CA	3.0	2.0	1766	$2,900	$1.64	19d	1	0.90mi
471 S Simpson Ave Unit D Hemet, CA	2.0	2.0	900	$1,750	$1.94	44d	1	0.92mi
1241 Sandlewood Dr Hemet, CA	2.0	1.5	1504	$2,000	$1.33	44d	1	0.92mi
1521 W Westmont Ave Hemet, CA	2.0	2.0	1197	$2,000	$1.67	44d	1	0.93mi
811 Alondra Dr Hemet, CA	2.0	2.0	1166	$1,875	$1.61	5d	1	0.93mi
853 Ensenada Dr Hemet, CA	2.0	2.0	1350	$1,875	$1.39	25d	1	0.94mi
853 Ensenada Dr Hemet, CA	2.0	2.0	1350	$1,875	$1.39	12d	1	0.94mi
683 Jonquil St Hemet, CA	3.0	2.0	1150	$2,448	$2.13	25d	1	0.96mi
611 S Palm Ave Unit K Hemet, CA	2.0	2.0	1254	$1,895	$1.51	8d	1	0.97mi
363 S Gilbert St Unit B Hemet, CA	3.0	2.0	1200	$1,900	$1.58	14d	1	1.00mi
363 S Gilbert St Hemet, CA	3.0	2.0	1200	$1,900	$1.58	4d	1	1.00mi
2208 El Grande St Hemet, CA	2.0	2.0	1327	$2,100	$1.58	18d	1	1.01mi
2208 El Grande St Hemet, CA	2.0	2.0	1327	$2,000	$1.51	0d	1	1.01mi
743 Via Linda Dr Hemet, CA	2.0	2.0	1206	$1,995	$1.65	6d	1	1.01mi
3471 Dublin Ct Hemet, CA	3.0	2.0	1276	$2,895	$2.27	4d	1	1.07mi
101 San Mateo Cir Hemet, CA	2.0	2.0	1152	$1,790	$1.55	0d	1	1.08mi
424 W Mayberry Ave Unit 1 Hemet, CA	1.0	1.0	1664	$850	$0.51	8d	1	1.10mi
876 W Whittier Ave Unit 878 Hemet, CA	2.0	2.0	1127	$2,150	$1.91	25d	1	1.11mi
120 Santa Lucia Dr Hemet, CA	2.0	2.0	1197	$1,600	$1.34	44d	1	1.11mi

Listing history 18 events

1. 2026-06-18
   days on market $29,900 Active 187 DOM
2. 2026-06-17
   days on market $29,900 Active 186 DOM
3. 2026-06-16
   days on market $29,900 Active 185 DOM
4. 2026-06-15
   days on market $29,900 Active 184 DOM
5. 2026-06-13
   days on market $29,900 Active 182 DOM
6. 2026-06-09
   days on market $29,900 Active 178 DOM
7. 2026-06-08
   days on market $29,900 Active 177 DOM
8. 2026-06-07
   days on market $29,900 Active 176 DOM
9. 2026-06-04
   days on market $29,900 Active 173 DOM
10. 2026-06-03
    days on market $29,900 Active 172 DOM
11. 2026-06-02
    pricedays on market $29,900 Active 171 DOM
12. 2026-06-01
    days on market $35,000 Active 170 DOM
13. 2026-05-31
    days on market $35,000 Active 169 DOM
14. 2026-05-13
    price $35,000 107-char remark

    Show marketing remark (107 chars)

    2 bedroom 2 bath mobile home located in Sunburst gated senior mobile home park. More information to follow.

15. 2026-03-18
    price $38,000 107-char remark

    Show marketing remark (107 chars)

    2 bedroom 2 bath mobile home located in Sunburst gated senior mobile home park. More information to follow.

16. 2026-02-13
    price $40,000 107-char remark

    Show marketing remark (107 chars)

    2 bedroom 2 bath mobile home located in Sunburst gated senior mobile home park. More information to follow.

17. 2026-01-16
    price $43,000 107-char remark

    Show marketing remark (107 chars)

    2 bedroom 2 bath mobile home located in Sunburst gated senior mobile home park. More information to follow.

18. 2025-12-13
    listed $48,000 Active 107-char remark

    Show marketing remark (107 chars)

    2 bedroom 2 bath mobile home located in Sunburst gated senior mobile home park. More information to follow.

ⓘ 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: $133 · $11/mo
• Projected year-2 tax: $227 · $19/mo
• Expected delta: +$95/yr (+$8/mo · 71.5%)

ⓘ 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 2/10 Low
• 🌡 Heat 7/10 Severe 6 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 12 unhealthy d/yr today · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,855
• − Mortgage interest: −$1,675
• − Property taxes: −$133
• − Insurance: −$150
• − Repairs & maintenance: −$1,908
• − Management: −$1,908
• − Depreciation: −$870
• Taxable income: $17,212
• Est. tax owed @ 24.0%: −$4,131
• After-tax cash flow: $12,551/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

-27.1% since first listed

5 events — show timeline

• 2026-05-13 Price Changed $35,000 CRMLS
• 2026-03-18 Price Changed $38,000 CRMLS
• 2026-02-13 Price Changed $40,000 CRMLS
• 2026-01-16 Price Changed $43,000 CRMLS
• 2025-12-13 Listed $48,000 CRMLS

Property tax history

+1.6%/yr

Latest (2025): $133 · +3.2% YoY. Source: county tax records.