24600 Mountain #87 · Hemet, CA 92544

$115,000

2 bd · 2.0 ba · 1,440 sqft · Manufactured public records · 13 Days on market

Built 1988 2,700 sqft lot Est $111k · at est. $847/mo HOA · 40% of rent

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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 +20.8/30.0
• 1% rule +10.0/10.0
• DSCR +6.6/10.0
• ARV discount +5.8/15.0
• Rent growth +3.7/5.0
• Livability +2.6/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

WOW!!! This is a very nice home and a pleasure to show. The home has two very nice size bedrooms the master bedroom has a very large bathroom plenty of closet space. Open kitchen with granite counter tops pantry lots of counter space a family room off the kitchen and a closed in room off the family room that would make a great craft room or hobby room. The formal living room has large windows for light and a built-in hutch in the dining room flooring is laminate flooring throughout but there is carpet in the bedrooms. The front pouch area room for table and chairs and the other side is the carport with a large storage shed and a smaller shed in the rear of the property. This is a very nice home take a look and see for your self.

Key facts

• Functional kitchen
• Low-maintenance yard
• Open floor plan

Tags

• OPEN FLOOR PLAN
• FUNCTIONAL KITCHEN
• COVERED PATIO
• LOW-MAINTENANCE YARD
• SPA
• CLUBHOUSE

Property features AI

Finance

• Other: Planned development common interest; No accessory dwelling unit
• Financial info: Land lease of $847 per month
• HOA & community: Part of Mountain View association; Monthly association fee of $847; Association amenities include pool and clubhouse; Senior community; Onsite property management; contact association for rules

Exterior

• Parking: Attached carport with 2 spaces
• Security: Onsite property management (association amenity)
• Utilities: Public sewer; Private water
• Home design: Single-story home; Planned development community; Has a view
• Construction: Certified 433a foundation
• Exterior features: Manufactured house; Landscaped lot; Association / community pool access; Community pool

Interior

• Kitchen: Gas cooktop and gas oven; Dishwasher
• Bedrooms: Primary bedroom on main level; Three bedrooms on main level
• Flooring: Laminate flooring
• Bathrooms: Two full bathrooms; Bathrooms feature double sinks, bathtub and separate shower
• Heating & cooling: Central cooling; Central furnace heating
• Interior features: One-level floor plan; Entry at main level; Primary bedroom and primary bathroom; Main level: 3 bedrooms, 2 bathrooms
• Laundry & utility: Indoor laundry; Washer hookup provided; Dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $115k.

Deal economics

• At list price, monthly cash flow is $157 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Cap rate 7.9% 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: Bautista Creek Elementary (math 10% / reading 50%, grade F, #849 of 1,571 statewide, top 54%, 1,001 students, 80% FRL); Acacia Middle (1,016 students, 94% FRL); Hemet High (math 21% / reading 46%, grade F, #656 of 1,170 statewide, top 57%, 2,438 students, 82% FRL) — zoned schools average 85% FRL vs 66% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.9%/yr); 329 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 35% of the median local income ($74k/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 $795 of loan paydown is wiped out by about $3k 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 + 4.9% rent growth), your $32k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 12 sale attempts since 23y 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 $100k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 40% of rent.
• 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 $115,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.86% ✓
• Cap rate: 7.93%
• Cash-on-cash: 5.85%
• DSCR: 1.26
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $110,880
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
24600 Mountain Ave #20	0.00mi	2/2.0	1,440 (0%)	3mo	$130,000	$90	98
24600 Mountain #58	0.00mi	2/2.0	1,440 (0%)	5mo	$80,000	$56	96
24600 Mountain Ave #97	0.00mi	2/2.0	1,440 (0%)	7mo	$89,000	$62	94
24600 Mountain Ave #103	0.00mi	2/2.0	1,440 (0%)	8mo	$90,000	$63	93
24600 Mountain Ave #63	0.00mi	2/2.0	1,344 (-7%)	1mo	$39,000	$29	88
24600 Mountain Ave #66	0.00mi	2/2.0	1,344 (-7%)	6mo	$129,900	$97	84
24770 Wendell Dr	0.50mi	2/2.0	1,440 (0%)	1mo	$259,000	$180	76
881 N Lake St #204	0.26mi	2/2.0	1,344 (-7%)	3mo	$75,000	$56	74
880 N Lake St #49	0.17mi	2/2.5	1,344 (-7%)	7mo	$103,000	$77	73
880 Lake St N #81	0.22mi	2/2.0	1,344 (-7%)	8mo	$98,000	$73	72
24761 Wendell Dr	0.47mi	2/2.0	1,344 (-7%)	0mo	$400,000	$298	67
43334 Ballew	0.73mi	2/2.0	1,440 (0%)	2mo	$320,000	$222	64

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 · 4.9% rent growth · sell at horizon

5-year hold

• IRR: -3.2%
• Equity multiple: 0.88×
• Total profit: $-3,996
• Equity at exit: $17,147

10-year hold

• IRR: 10.1%
• Equity multiple: 1.90×
• Total profit: $29,117
• Equity at exit: $9,943

Cash invested: $32,200 (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 92544

• Rents YoY: 4.9%
• Active inventory: 329
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $2,138 high
• Mortgage (P&I): −$603
• Tax from tax record: −$34 /mo · $406/yr
• Insurance: −$48
• HOA: −$847
• Vacancy / Maint / Mgmt: −$449
• Net cashflow: $157

Break-even live

Break-even rent $1,939

Max offer price $115,000

Occupancy floor 88%

Sensitivity live

Price	-10% $222	-5% $189	+0% $157	+5% $124	+10% $92
Rent	-10% $-12	-5% $72	+0% $157	+5% $241	+10% $326
Rate	-1.0pp $215	-0.5pp $186	base $157	+0.5pp $127	+1.0pp $97

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1809 Rue Chenin Blanc San Jacinto, CA	3.0	2.0	1548	$2,500	$1.61	6d	1	0.51mi
1939 Hooper Dr San Jacinto, CA	2.0	2.0	1111	$1,950	$1.76	25d	1	0.72mi
43435 Nola St Hemet, CA	3.0	2.0	1500	$1,950	$1.30	25d	1	0.89mi
43170 Wall St Hemet, CA	2.0	2.0	1140	$1,895	$1.66	4d	1	0.98mi
43816 C St Hemet, CA	2.0	2.0	1040	$2,250	$2.16	25d	1	1.47mi

HOA detail

• Monthly dues: $847 · $10,164/yr

Listing history 8 events

1. 2026-06-21
   days on market $115,000 Active 13 DOM
2. 2026-06-18
   days on market $115,000 Active 10 DOM
3. 2026-06-17
   days on market $115,000 Active 9 DOM
4. 2026-06-16
   days on market $115,000 Active 8 DOM
5. 2026-06-15
   days on market $115,000 Active 7 DOM
6. 2026-06-13
   days on market $115,000 Active 5 DOM
7. 2026-06-09
   remarks 687-char remark
8. 2026-06-09
   listed $115,000 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: $406 · $34/mo
• Projected year-2 tax: $874 · $73/mo
• Expected delta: +$468/yr (+$39/mo · 115.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 7/10 Severe 6 d/yr ≥103°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 11 unhealthy d/yr today · 13 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,651
• − Mortgage interest: −$6,442
• − Property taxes: −$406
• − Insurance: −$575
• − Repairs & maintenance: −$2,052
• − Management: −$2,052
• − HOA: −$10,164
• − Depreciation: −$3,345
• Taxable income: $614
• Est. tax owed @ 24.0%: −$147
• After-tax cash flow: $1,735/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

• County: Riverside County · 2,287,001 people
• City population: 137,670
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 51,751
• Household income: $73,596
• Rent vs Own: 31.2% rent · 68.8% own
• Severe rent burden: 1518.0

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 0.59)
• Race & ethnicity: Hispanic / Latino 49% White 40% Two or more races 18% Black 5% Asian 3% Native American 2%
• Hispanic origin (detail): Mexican 43% Puerto Rican 1%
• Common ancestry: Slovak 2% Italian 2% Portuguese 2%
• Foreign-born: 15% · Canada, China
• Languages at home: 70% English-only · Spanish 27% Other Asian/Pacific 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: ▼ -219.06%
• Current HPI: 391.972
• Rent YoY: ▲ 4.90%
• 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

+51.5% since first listed

32 events — show timeline

• 2026-06-08 Listed $115,000 CRMLS
• 2026-03-21 Listing Removed — CRMLS
• 2025-10-03 Listed $115,000 CRMLS
• 2025-09-24 Coming Soon — CRMLS
• 2023-01-27 Sold (MLS) $100,000 CRMLS
• 2023-01-18 Contingent — CRMLS
• 2022-12-28 Price Changed $110,000 CRMLS
• 2022-12-06 Price Changed $121,000 CRMLS
• 2022-07-26 Listed $135,000 CRMLS
• 2019-07-18 Delisted — CRMLS
• 2019-07-18 Listed $68,500 CRMLS
• 2016-11-30 Sold (MLS) $44,000 CRMLS
• 2016-11-10 Pending — CRMLS
• 2016-11-01 Price Changed $44,500 CRMLS
• 2016-08-02 Listed $47,500 CRMLS
• 2016-07-19 Listing Removed — CRMLS
• 2016-07-18 Relisted — CRMLS
• 2016-07-18 Price Changed $47,500 CRMLS
• 2016-06-28 Pending — CRMLS
• 2016-04-26 Relisted — CRMLS
• 2016-04-15 Pending — CRMLS
• 2016-03-16 Listed $44,900 CRMLS
• 2016-03-09 Listing Removed — CRMLS
• 2016-02-19 Listed $43,900 CRMLS
• 2015-12-16 Listing Removed — CRMLS
• 2015-12-10 Price Changed $34,900 CRMLS
• 2015-11-26 Listed $38,500 CRMLS
• 2014-04-07 Price Changed $35,000 CRMLS
• 2014-04-07 Listing Removed — CRMLS
• 2014-01-23 Listed $39,000 CRMLS
• 2004-07-06 Sold (MLS) $70,000 CRMLS
• 2003-11-20 Listed $75,900 CRMLS

Property tax history

-3.0%/yr

Latest (2025): $406 · -18.5% YoY. Source: county tax records.