260 N Lyon #110 · Hemet, CA 92543

$47,000

2 bd · 1.0 ba · 1,440 sqft · Manufactured public records · 144 Days on market

Built 1969 $33/sqft · 34% below area Est $71k · 34% under ↓ 15% since listing

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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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +2.9/5.0
• Livability +2.6/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Price reduction !! This Manufactured Home is a must see , home is built in 1969 but it has been beautifully well kept has new vinyl wood flooring with a huge masterbedroom with 2 big closets . The master bathroom is spacious and very well kept . Bathrooms have new toilets . Property has a central heater. The heater was replaced 2 years ago. Laundryroom inside with washer and dryer hook ups . The kitchen has plenty of cabinets for storage . The stove and refrigerator will stay with a good offer. Property has a enclosed patio to hang outside with friends and family . Outside Shed stays . Carport awning to keep your car dry or shaded . Parking space for 2 small cars . Must be 55+ and get park approval . All offers are being considered.

Key facts

• New toilets
• Central heater
• Huge master bedroom

Tags

• NEW VINYL WOOD FLOORING
• HUGE MASTER BEDROOM
• BIG CLOSETS
• SPACIOUS MASTER BATHROOM
• NEW TOILETS
• CENTRAL HEATER

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $47k.

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 $47k).
• Recommended offer: $41k (12.0% below list) — sets the bar for market timing.
• Cap rate 39.0% 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+, 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); 270 active listings in the ZIP; 40 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).
• At $1,973/mo this rent would consume 48% 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 $325 of loan paydown is wiped out by about $1k 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 + 1.8% rent growth), your $13k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 144 days — a 12% lower offer ($41k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 6→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $41,360 (12.0% below list)

Questions for the listing agent

1. It's been on market 144 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 1969 — 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: 4.20% ✓
• Cap rate: 38.99%
• Cash-on-cash: 116.76%
• DSCR: 6.20
• GRM: 2.0

CMA / ARV

• ARV (median comp): $71,342
• List price: $47,000
• Delta: -34.12%
• 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
1525 W Oakland Ave #62	0.23mi	2/2.0	1,440 (0%)	2mo	$40,000	$28	83
1420 Cabrillo Dr	0.33mi	2/2.0	1,440 (0%)	1mo	$247,500	$172	80
1445-#88 W Florida	0.24mi	3/2.0 (+1)	1,440 (0%)	1mo	$124,000	$86	79
542 Castille	0.39mi	2/2.0	1,392 (-3%)	2mo	$239,000	$172	71
1895 W Devonshire #20	0.31mi	2/2.0	1,344 (-7%)	1mo	$44,000	$33	70
1895 W Devonshire Ave #76	0.31mi	2/2.0	1,344 (-7%)	4mo	$55,000	$41	68
576 Palos Dr	0.41mi	2/2.0	1,344 (-7%)	0mo	$239,000	$178	66
332 N Lyon Ave #67	0.12mi	2/2.0	1,248 (-13%)	3mo	$49,500	$40	65
1895 W Devonshire Ave #74	0.31mi	3/2.0 (+1)	1,344 (-7%)	2mo	$80,000	$60	64
530 W Devonshire Ave #23	0.52mi	3/2.0 (+1)	1,538 (+7%)	2mo	$120,000	$78	54
1580 Cabrillo Dr	0.35mi	2/2.0	1,640 (+14%)	4mo	$235,000	$143	54
1300 Menlo Ave #81	0.69mi	3/2.0 (+1)	1,612 (+12%)	2mo	$155,000	$96	38

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: —
• Equity multiple: 6.43×
• Total profit: $71,509
• Equity at exit: $7,008

10-year hold

• IRR: —
• Equity multiple: 12.97×
• Total profit: $157,557
• Equity at exit: $4,064

Cash invested: $13,160 (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: 270
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $1,973 high
• Mortgage (P&I): −$246
• Tax from tax record: −$12 /mo · $147/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $1,281

Break-even live

Break-even rent $352

Max offer price $47,000

Occupancy floor 30%

Sensitivity live

Price	-10% $1,307	-5% $1,294	+0% $1,281	+5% $1,267	+10% $1,254
Rent	-10% $1,125	-5% $1,203	+0% $1,281	+5% $1,358	+10% $1,436
Rate	-1.0pp $1,304	-0.5pp $1,292	base $1,281	+0.5pp $1,268	+1.0pp $1,256

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: $11,750
• Closing costs: $1,410
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
250 N Elk St Hemet, CA	2.0	1.0	900	$1,625	$1.81	15d	1	0.09mi
1315 W Latham Ave Hemet, CA	3.0	2.5	1340	$2,550	$1.90	45d	1	0.11mi
1270 Rosalia Ave Unit 1 Hemet, CA	2.0	1.0	900	$1,800	$2.00	45d	1	0.24mi
446 N Elk St Unit D Hemet, CA	2.0	1.0	980	$1,675	$1.71	25d	1	0.29mi
543 La Cresta Dr Hemet, CA	2.0	2.0	1544	$1,595	$1.03	45d	1	0.41mi
1862 Pueblo Dr Hemet, CA	2.0	2.0	977	$1,900	$1.94	45d	1	0.42mi
1862 Pueblo Dr Unit 1862 Hemet, CA	2.0	2.0	977	$1,750	$1.79	25d	1	0.42mi
663 Mariposa Dr Hemet, CA	2.0	2.0	1440	$1,500	$1.04	25d	1	0.47mi
1964 W Oakland Ave Hemet, CA	2.0	2.0	977	$1,695	$1.73	19d	1	0.48mi
627 Solano Dr Hemet, CA	2.0	2.0	882	$1,800	$2.04	19d	1	0.51mi
601 Corona St Hemet, CA	2.0	2.0	882	$1,700	$1.93	0d	1	0.51mi
2098 W Acacia Ave Hemet, CA	1.0–3.0	1.0–2.0	895	$2,035	$2.27	0d	1	0.58mi
1850 Amberwood Dr Hemet, CA	2.0	2.0	1170	$1,561	$1.33	45d	1	0.62mi
471 Whitney Dr Hemet, CA	2.0	2.0	1085	$1,800	$1.66	6d	1	0.66mi
1461 W Mayberry Ave Hemet, CA	2.0	2.0	1044	$1,750	$1.68	45d	1	0.69mi
415 S Tahquitz Ave Hemet, CA	3.0	2.0	1766	$2,900	$1.64	19d	1	0.70mi
1700 Walden Ln Hemet, CA	3.0	2.0	1430	$2,670	$1.87	25d	1	0.72mi
471 S Simpson Ave Unit D Hemet, CA	2.0	2.0	900	$1,750	$1.94	45d	1	0.74mi
828 Coramdeo Ct Hemet, CA	3.0	2.0	1543	$3,000	$1.94	45d	1	0.75mi
2403 W Acacia Ave Hemet, CA	2.0	2.0	910	$1,995	$2.19	9d	1	0.76mi
363 S Gilbert St Hemet, CA	3.0	2.0	1200	$1,900	$1.58	5d	1	0.77mi
363 S Gilbert St Unit B Hemet, CA	3.0	2.0	1200	$1,900	$1.58	15d	1	0.77mi
2469 W Acacia Ave Hemet, CA	2.0	2.0	910	$1,750	$1.92	25d	1	0.78mi
2014 Iris Way Hemet, CA	3.0	2.0	1192	$2,850	$2.39	45d	1	0.83mi
1241 Sandlewood Dr Hemet, CA	2.0	1.5	1504	$2,000	$1.33	45d	1	0.84mi
611 S Palm Ave Unit K Hemet, CA	2.0	2.0	1254	$1,895	$1.51	9d	1	0.85mi
2770 W Devonshire Ave Hemet, CA	1.0–2.0	1.0–2.0	707	$1,945	$2.75	0d	10	0.85mi
424 W Mayberry Ave Unit 1 Hemet, CA	1.0	1.0	1664	$850	$0.51	9d	1	0.89mi
1521 W Westmont Ave Hemet, CA	2.0	2.0	1197	$2,000	$1.67	45d	1	0.90mi
876 W Whittier Ave Unit 878 Hemet, CA	2.0	2.0	1127	$2,150	$1.91	25d	1	0.97mi
101 San Mateo Cir Hemet, CA	2.0	2.0	1152	$1,790	$1.55	0d	1	1.03mi
3030 W Acacia Ave Hemet, CA	1.0–2.0	1.0–2.0	807	$1,780	$2.20	0d	8	1.05mi
120 Santa Lucia Dr Hemet, CA	2.0	2.0	1197	$1,600	$1.34	45d	1	1.07mi
683 Jonquil St Hemet, CA	3.0	2.0	1150	$2,448	$2.13	25d	1	1.10mi
2208 El Grande St Hemet, CA	2.0	2.0	1327	$2,000	$1.51	0d	1	1.12mi
2208 El Grande St Hemet, CA	2.0	2.0	1327	$2,100	$1.58	19d	1	1.12mi
735 S Gilbert St Hemet, CA	3.0	2.0	1202	$2,400	$2.00	45d	1	1.12mi
529 E Latham Ave Hemet, CA	3.0	1.0	1226	$1,950	$1.59	21d	1	1.13mi
853 Ensenada Dr Hemet, CA	2.0	2.0	1350	$1,875	$1.39	13d	1	1.13mi
853 Ensenada Dr Hemet, CA	2.0	2.0	1350	$1,875	$1.39	25d	1	1.13mi

Listing history 17 events

1. 2026-06-21
   days on market $47,000 Active 144 DOM
2. 2026-06-18
   days on market $47,000 Active 141 DOM
3. 2026-06-17
   days on market $47,000 Active 140 DOM
4. 2026-06-16
   days on market $47,000 Active 139 DOM
5. 2026-06-15
   days on market $47,000 Active 138 DOM
6. 2026-06-13
   days on market $47,000 Active 136 DOM
7. 2026-06-09
   days on market $47,000 Active 132 DOM
8. 2026-06-08
   days on market $47,000 Active 131 DOM
9. 2026-06-07
   days on market $47,000 Active 130 DOM
10. 2026-06-04
    days on market $47,000 Active 127 DOM
11. 2026-06-03
    days on market $47,000 Active 126 DOM
12. 2026-06-02
    days on market $47,000 Active 125 DOM
13. 2026-06-01
    days on market $47,000 Active 124 DOM
14. 2026-05-31
    days on market $47,000 Active 123 DOM
15. 2026-04-21
    price $47,000 744-char remark

    Show marketing remark (744 chars)

    Price reduction !! This Manufactured Home is a must see , home is built in 1969 but it has been beautifully well kept has new vinyl wood flooring with a huge masterbedroom with 2 big closets . The master bathroom is spacious and very well kept . Bathrooms have new toilets . Property has a central heater. The heater was replaced 2 years ago. Laundryroom inside with washer and dryer hook ups . The kitchen has plenty of cabinets for storage . The stove and refrigerator will stay with a good offer. Property has a enclosed patio to hang outside with friends and family . Outside Shed stays . Carport awning to keep your car dry or shaded . Parking space for 2 small cars . Must be 55+ and get park approval . All offers are being considered.

16. 2026-02-16
    price $50,000 744-char remark

    Show marketing remark (744 chars)

    Price reduction !! This Manufactured Home is a must see , home is built in 1969 but it has been beautifully well kept has new vinyl wood flooring with a huge masterbedroom with 2 big closets . The master bathroom is spacious and very well kept . Bathrooms have new toilets . Property has a central heater. The heater was replaced 2 years ago. Laundryroom inside with washer and dryer hook ups . The kitchen has plenty of cabinets for storage . The stove and refrigerator will stay with a good offer. Property has a enclosed patio to hang outside with friends and family . Outside Shed stays . Carport awning to keep your car dry or shaded . Parking space for 2 small cars . Must be 55+ and get park approval . All offers are being considered.

17. 2026-01-28
    listed $55,000 Active 744-char remark

    Show marketing remark (744 chars)

    Price reduction !! This Manufactured Home is a must see , home is built in 1969 but it has been beautifully well kept has new vinyl wood flooring with a huge masterbedroom with 2 big closets . The master bathroom is spacious and very well kept . Bathrooms have new toilets . Property has a central heater. The heater was replaced 2 years ago. Laundryroom inside with washer and dryer hook ups . The kitchen has plenty of cabinets for storage . The stove and refrigerator will stay with a good offer. Property has a enclosed patio to hang outside with friends and family . Outside Shed stays . Carport awning to keep your car dry or shaded . Parking space for 2 small cars . Must be 55+ and get park approval . All offers are being considered.

ⓘ 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: $147 · $12/mo
• Projected year-2 tax: $357 · $30/mo
• Expected delta: +$210/yr (+$18/mo · 142.7%)

ⓘ 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 1/10 Low
• 🌡 Heat 7/10 Severe 6 d/yr ≥104°F today · 16 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: $23,678
• − Mortgage interest: −$2,633
• − Property taxes: −$147
• − Insurance: −$235
• − Repairs & maintenance: −$1,894
• − Management: −$1,894
• − Depreciation: −$1,367
• Taxable income: $15,508
• Est. tax owed @ 24.0%: −$3,722
• After-tax cash flow: $11,644/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): 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

-14.5% since first listed

3 events — show timeline

• 2026-04-21 Price Changed $47,000 CRMLS
• 2026-02-16 Price Changed $50,000 CRMLS
• 2026-01-28 Listed $55,000 CRMLS

Property tax history

-1.4%/yr

Latest (2025): $147 · +2.0% YoY. Source: county tax records.