556 San Marino · Hemet, CA 92545

$223,000

2 bd · 1.0 ba · 827 sqft · SingleFamily public records · 87 Days on market

Built 1975 3,920 sqft lot $270/sqft · at area comps Est $232k · at est. $7/mo HOA

---

Why this score? — see what drove the D 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 +13.4/30.0
• ARV discount +9.2/15.0
• DSCR +4.0/10.0
• Rent growth +3.4/5.0
• 1% rule +3.0/10.0
• Livability +2.6/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits in the desirable 55+ community of Valle Hermosa! This charming single-family home offers 2 bedrooms, 1 full bathroom, and 827 sq ft of comfortable, functional living space. Built in 1975, the home includes an attached one-car garage that shares one wall with a neighboring unit. The efficient galley kitchen provides ample cabinet storage, a gas range/oven, laminate countertops with tile backsplash, a pantry, and convenient in-kitchen laundry with upper cabinets and a gas dryer hookup. The garage features a door opener with direct access into the home, and the long concrete driveway offers PLENTY of additional parking. A cozy dining nook just off the kitchen overlooks the front yard, while the inviting front patio provides a great spot to relax. The full bathroom features a tub/shower combo. One bedroom includes a sliding door that opens to the backyard’s covered patio. Enjoy the low ANNUAL HOA fee of just $88! Conveniently located near shopping, restaurants, medical offices, and commuter routes. Investor-friendly HOA. Don’t miss this great opportunity!

Key facts

• Front patio
• Galley kitchen
• Covered patio

Tags

• GALLEY KITCHEN
• AMPLE CABINET STORAGE
• IN-KITCHEN LAUNDRY
• COZY DINING NOOK
• FRONT PATIO
• COVERED PATIO

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $223k.

Deal economics

• At list price, monthly cash flow is $4 ($44/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $178k (20.1% below list).
• Recommended offer: $178k (20.1% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 4.9% in Hemet — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 34 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 34% 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 $2k of loan paydown is wiped out by about $7k 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 87 days — a 6% lower offer ($210k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y 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 $118k; list at $223k implies a 89% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $178,149 (20.1% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 20% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.80% ✗
• Cap rate: 6.31%
• Cash-on-cash: 0.07%
• DSCR: 1.00
• GRM: 10.4

CMA / ARV

• ARV (median comp): $231,768
• List price: $223,000
• Delta: -3.78%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2321 San Helice Ct	0.11mi	2/1.0	827 (0%)	0mo	$215,000	$260	94
2124 San Padre	0.14mi	2/1.0	827 (0%)	1mo	$245,000	$296	93
2221 San Bernardo	0.16mi	2/1.0	827 (0%)	2mo	$200,000	$242	91
1991 Nuevo St	0.17mi	2/1.0	827 (0%)	3mo	$240,000	$290	90
1933 Nuevo	0.19mi	2/1.0	827 (0%)	2mo	$235,000	$284	89
2046 Calle Diablo	0.24mi	2/1.0	820 (-1%)	1mo	$229,000	$279	87
2372 Antigua Ct	0.29mi	2/1.0	820 (-1%)	2mo	$258,000	$315	84
1931 Calle Arboleda	0.35mi	2/1.0	827 (0%)	2mo	$215,000	$260	82
1871 Calle Pasito	0.41mi	2/1.0	827 (0%)	3mo	$232,500	$281	78
601 Corona St	0.17mi	2/2.0	882 (+7%)	1mo	$250,000	$283	77
640 Corona	0.20mi	2/2.0	875 (+6%)	1mo	$232,500	$266	77
2024 Ortega Ct	0.12mi	2/2.0	922 (+12%)	2mo	$270,000	$293	70

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: -15.5%
• Equity multiple: 0.45×
• Total profit: $-34,622
• Equity at exit: $33,250

10-year hold

• IRR: -5.9%
• Equity multiple: 0.61×
• Total profit: $-24,513
• Equity at exit: $19,281

Cash invested: $62,440 (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: 10.4×

Monthly cashflow live

• Estimated rent: $1,781 high
• Mortgage (P&I): −$1,169
• Tax from tax record: −$134 /mo · $1,612/yr
• Insurance: −$93
• HOA: −$7
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $4

Break-even live

Break-even rent $1,777

Max offer price $223,000

Occupancy floor 95%

Sensitivity live

Price	-10% $130	-5% $67	+0% $4	+5% $-59	+10% $-123
Rent	-10% $-137	-5% $-67	+0% $4	+5% $74	+10% $144
Rate	-1.0pp $116	-0.5pp $60	base $4	+0.5pp $-54	+1.0pp $-113

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: $55,750
• Closing costs: $6,690
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
528 San Marino St Hemet, CA	2.0	1.0	827	$1,900	$2.30	44d	1	0.03mi
682 San Marino St Hemet, CA	2.0	1.0	827	$1,600	$1.93	44d	1	0.11mi
2120 San Bernardo Ave Hemet, CA	2.0	1.0	827	$2,100	$2.54	44d	1	0.13mi
1964 W Oakland Ave Hemet, CA	2.0	2.0	977	$1,695	$1.73	18d	1	0.14mi
2269 San Bernardo Ave Hemet, CA	2.0	1.0	827	$1,650	$2.00	44d	1	0.17mi
2054 Avenida Olivos Hemet, CA	2.0	1.0	820	$1,500	$1.83	44d	1	0.17mi
1933 Nuevo St Hemet, CA	2.0	1.0	827	$1,700	$2.06	25d	1	0.18mi
1931 Nuevo St Hemet, CA	2.0	1.0	820	$1,600	$1.95	44d	1	0.18mi
627 Solano Dr Hemet, CA	2.0	2.0	882	$1,800	$2.04	19d	1	0.18mi
2488 San Padre Ct Hemet, CA	2.0	1.0	827	$1,599	$1.93	14d	1	0.20mi
2488 San Padre Ct Hemet, CA	2.0	1.0	827	$1,599	$1.93	0d	1	0.20mi
1862 Pueblo Dr Unit 1862 Hemet, CA	2.0	2.0	977	$1,750	$1.79	25d	1	0.20mi
1862 Pueblo Dr Hemet, CA	2.0	2.0	977	$1,900	$1.94	44d	1	0.20mi
2422 San Padre Ct Hemet, CA	2.0	1.0	827	$1,800	$2.18	25d	1	0.23mi
1887 Calle Amargosa Hemet, CA	2.0	1.0	827	$1,545	$1.87	25d	1	0.28mi
341 Calle Nogales Hemet, CA	2.0	1.0	827	$1,395	$1.69	44d	1	0.30mi
2770 W Devonshire Ave Hemet, CA	1.0–2.0	1.0–2.0	707	$1,945	$2.75	0d	10	0.44mi
446 N Elk St Unit D Hemet, CA	2.0	1.0	980	$1,675	$1.71	25d	1	0.55mi
1270 Rosalia Ave Unit 1 Hemet, CA	2.0	1.0	900	$1,800	$2.00	44d	1	0.59mi
250 N Elk St Hemet, CA	2.0	1.0	900	$1,625	$1.81	14d	1	0.68mi
201 N Valley View Dr Hemet, CA	1.0	1.0	552	$1,500	$2.72	44d	1	0.74mi
165 N Hamilton Ave Unit 4 Hemet, CA	1.0	1.0	768	$1,525	$1.99	22d	1	0.80mi
165 N Hamilton Ave Unit 3 Hemet, CA	1.0	1.0	768	$1,450	$1.89	6d	1	0.80mi
2098 W Acacia Ave Hemet, CA	1.0–3.0	1.0–2.0	895	$2,035	$2.27	0d	1	0.82mi
2403 W Acacia Ave Hemet, CA	2.0	2.0	910	$1,995	$2.19	8d	1	0.88mi
2469 W Acacia Ave Hemet, CA	2.0	2.0	910	$1,750	$1.92	25d	1	0.88mi
3030 W Acacia Ave Hemet, CA	1.0–2.0	1.0–2.0	807	$1,785	$2.21	0d	8	0.95mi
3800 W Devonshire Ave Hemet, CA	3.0	1.0–2.0	816	$2,172	$2.66	0d	8	1.07mi
471 Whitney Dr Hemet, CA	2.0	2.0	1085	$1,800	$1.66	6d	1	1.10mi
1461 W Mayberry Ave Hemet, CA	2.0	2.0	1044	$1,750	$1.68	44d	1	1.18mi
233 N Alessandro St Hemet, CA	1.0	1.0	690	$1,400	$2.03	44d	1	1.21mi
199 N Inez St Apt D Hemet, CA	1.0	1.0	650	$1,300	$2.00	8d	1	1.30mi
199 N Inez St Apt D Hemet, CA	1.0	1.0	650	$1,300	$2.00	0d	1	1.30mi
471 S Simpson Ave Unit D Hemet, CA	2.0	2.0	900	$1,750	$1.94	44d	1	1.34mi

HOA detail

• Monthly dues: $7 · $84/yr
• Likely covers: gas

Listing history 15 events

1. 2026-06-04
   days on market $223,000 Active 87 DOM
2. 2026-06-03
   days on market $223,000 Active 86 DOM
3. 2026-06-02
   days on market $223,000 Active 85 DOM
4. 2026-06-01
   days on market $223,000 Active 84 DOM
5. 2026-05-31
   days on market $223,000 Active 83 DOM
6. 2026-05-01
   price $223,000 1098-char remark

   Show marketing remark (1098 chars)

   Opportunity awaits in the desirable 55+ community of Valle Hermosa! This charming single-family home offers 2 bedrooms, 1 full bathroom, and 827 sq ft of comfortable, functional living space. Built in 1975, the home includes an attached one-car garage that shares one wall with a neighboring unit. The efficient galley kitchen provides ample cabinet storage, a gas range/oven, laminate countertops with tile backsplash, a pantry, and convenient in-kitchen laundry with upper cabinets and a gas dryer hookup. The garage features a door opener with direct access into the home, and the long concrete driveway offers PLENTY of additional parking. A cozy dining nook just off the kitchen overlooks the front yard, while the inviting front patio provides a great spot to relax. The full bathroom features a tub/shower combo. One bedroom includes a sliding door that opens to the backyard’s covered patio. Enjoy the low ANNUAL HOA fee of just $88! Conveniently located near shopping, restaurants, medical offices, and commuter routes. Investor-friendly HOA. Don’t miss this great opportunity!

7. 2026-03-09
   listed $227,000 Active 1098-char remark

   Show marketing remark (1098 chars)

   Opportunity awaits in the desirable 55+ community of Valle Hermosa! This charming single-family home offers 2 bedrooms, 1 full bathroom, and 827 sq ft of comfortable, functional living space. Built in 1975, the home includes an attached one-car garage that shares one wall with a neighboring unit. The efficient galley kitchen provides ample cabinet storage, a gas range/oven, laminate countertops with tile backsplash, a pantry, and convenient in-kitchen laundry with upper cabinets and a gas dryer hookup. The garage features a door opener with direct access into the home, and the long concrete driveway offers PLENTY of additional parking. A cozy dining nook just off the kitchen overlooks the front yard, while the inviting front patio provides a great spot to relax. The full bathroom features a tub/shower combo. One bedroom includes a sliding door that opens to the backyard’s covered patio. Enjoy the low ANNUAL HOA fee of just $88! Conveniently located near shopping, restaurants, medical offices, and commuter routes. Investor-friendly HOA. Don’t miss this great opportunity!

8. 2025-11-30
   historical
9. 2025-06-09
   listed $235,000 Active
10. 2016-08-24
    soldstatus $117,900 Closed Sale
11. 2016-08-24
    soldstatus $118,000
12. 2016-07-08
    historical Active Under Contract
13. 2016-06-22
    price $117,900
14. 2016-05-20
    price $117,980
15. 2016-05-03
    listed $119,980 Active

ⓘ 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: $1,612 · $134/mo
• Projected year-2 tax: $1,695 · $141/mo
• Expected delta: +$83/yr (+$7/mo · 5.1%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥104°F today · 21 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: $21,378
• − Mortgage interest: −$12,491
• − Property taxes: −$1,612
• − Insurance: −$1,115
• − Repairs & maintenance: −$1,710
• − Management: −$1,710
• − HOA: −$84
• − Depreciation: −$6,487
• Taxable loss: −$3,832
• Est. tax savings @ 24.0%: +$920
• After-tax cash flow: $964/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

+85.9% since first listed

10 events — show timeline

• 2026-05-01 Price Changed $223,000 CRMLS
• 2026-03-09 Listed $227,000 CRMLS
• 2025-11-30 Listing Removed — CRMLS
• 2025-06-09 Listed $235,000 CRMLS
• 2016-08-24 Sold (Public Records) $118,000 Public Records
• 2016-08-24 Sold (MLS) $117,900 CRMLS
• 2016-07-08 Contingent — CRMLS
• 2016-06-22 Price Changed $117,900 CRMLS
• 2016-05-20 Price Changed $117,980 CRMLS
• 2016-05-03 Listed $119,980 CRMLS

Property tax history

+3.0%/yr

Latest (2025): $1,612 · +2.0% YoY. Source: county tax records.