1150 N Kirby N #109 · Hemet, CA 92545

$99,999

2 bd · 2.0 ba · 1,320 sqft · Manufactured public records · 20 Days on market

Built 2004 Est $102k · at est.

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +8.2/15.0
• 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

COMING SOON - PRICED TO SELL! Beautifully maintained 3-bedroom, 2-bath home featuring a spacious and functional floor plan with abundant natural light throughout. This home offers comfortable living spaces, generously sized bedrooms, ample storage, and a welcoming kitchen perfect for everyday living and entertaining. Conveniently located near shopping, dining, schools, and major commuter routes. Incredible opportunity for first-time buyers, families, or investors looking for strong value. Property will be active soon, don’t miss out on this competitively priced opportunity!

Key facts

• Garage
• Community pool
• Built 2004

Property features AI

Finance

• Other: Manager approval required for residency; Pets allowed with numeric limits
• Financial info: Monthly land lease of $975 (park)
• HOA & community: Located in Californian MHP with a monthly park land lease

Exterior

• Parking: Attached garage (1 car total parking/garage space)
• Utilities: Public/District water; Sewer or septic (unknown)
• Home design: Single-story mobile home (24' x 60'); Mobile home remains on site; Entry on the front
• Construction: Year built per public records; Double-wide mobile home
• Exterior features: Community pool; Back yard; Curbs, sidewalks, biking paths and nearby park; Dog park in the community

Interior

• Kitchen: Dishwasher
• Bedrooms: Primary bedroom
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central furnace heating; Central air conditioning
• Interior features: Ceiling fan; Single-level living; Front entry
• Laundry & utility: Indoor laundry in a dedicated room; Gas and electric dryer hookups

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 19.9% 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; 27 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 42% 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 $691 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 + 3.7% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 18y ago; this cycle's ask has dropped $39k (28%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $98,499 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 2.21% ✓
• Cap rate: 19.92%
• Cash-on-cash: 48.66%
• DSCR: 3.17
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $101,640
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1150 N Kirby St #72	0.00mi	2/2.0	1,296 (-2%)	6mo	$110,000	$85	92
1150 N Kirby #75	0.00mi	3/2.0 (+1)	1,248 (-6%)	0mo	$107,000	$86	86
1250 N Kirby St #181	0.37mi	3/2.0 (+1)	1,368 (+4%)	5mo	$85,000	$62	68
1250 N Kirby St #127	0.37mi	2/2.0	1,440 (+9%)	4mo	$46,500	$32	64
1250 N Kirby St #151	0.37mi	3/2.0 (+1)	1,404 (+6%)	5mo	$115,000	$82	63
1250 N Kirby #92	0.37mi	2/2.0	1,440 (+9%)	5mo	$99,900	$69	63
1250 N Kirby #194	0.37mi	3/2.0 (+1)	1,440 (+9%)	4mo	$89,000	$62	60
1300 W Menlo #92	0.67mi	2/2.0	1,344 (+2%)	8mo	$94,000	$70	59
1300 W Menlo Ave #185	0.67mi	2/2.0	1,344 (+2%)	8mo	$77,500	$58	59
1250 N Kirby St #138	0.37mi	3/2.0 (+1)	1,200 (-9%)	6mo	$110,000	$92	58
1250 N Kirby St #184	0.37mi	3/2.0 (+1)	1,512 (+14%)	10mo	$125,000	$83	46
1300 W Menlo Ave #167	0.67mi	3/2.0 (+1)	1,468 (+11%)	8mo	$113,500	$77	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 · 3.74% rent growth · sell at horizon

5-year hold

• IRR: 47.0%
• Equity multiple: 3.06×
• Total profit: $57,753
• Equity at exit: $14,910

10-year hold

• IRR: 53.0%
• Equity multiple: 6.37×
• Total profit: $150,244
• Equity at exit: $8,646

Cash invested: $28,000 (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: 3.8×

Monthly cashflow live

• Estimated rent: $2,209 high
• Mortgage (P&I): −$524
• Tax from tax record: −$43 /mo · $522/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$464
• Net cashflow: $1,135

Break-even live

Break-even rent $772

Max offer price $99,999

Occupancy floor 44%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2208 El Grande St Hemet, CA	2.0	2.0	1327	$2,100	$1.58	18d	1	0.20mi
2014 Iris Way Hemet, CA	3.0	2.0	1192	$2,850	$2.39	44d	1	0.48mi
853 Ensenada Dr Hemet, CA	2.0	2.0	1350	$1,875	$1.39	24d	1	0.48mi
853 Ensenada Dr Hemet, CA	2.0	2.0	1350	$1,875	$1.39	12d	1	0.48mi
1245 Millie Dr Hemet, CA	3.0	2.0	1392	$2,850	$2.05	8d	1	0.49mi
811 Alondra Dr Hemet, CA	2.0	2.0	1166	$1,875	$1.61	5d	1	0.54mi
1844 Paradise Way San Jacinto, CA	3.0	2.0	1540	$3,000	$1.95	44d	1	0.55mi
1967 Connor Ln San Jacinto, CA	3.0	2.5	1708	$2,950	$1.73	8d	1	0.56mi
1700 Walden Ln Hemet, CA	3.0	2.0	1430	$2,670	$1.87	24d	1	0.61mi
743 Via Linda Dr Hemet, CA	2.0	2.0	1206	$1,995	$1.65	5d	1	0.70mi
627 Solano Dr Hemet, CA	2.0	2.0	882	$1,800	$2.04	18d	1	0.81mi
828 Coramdeo Ct Hemet, CA	3.0	2.0	1543	$3,000	$1.94	44d	1	0.84mi
1964 W Oakland Ave Hemet, CA	2.0	2.0	977	$1,695	$1.73	18d	1	0.86mi
543 La Cresta Dr Hemet, CA	2.0	2.0	1544	$1,595	$1.03	44d	1	0.90mi
1862 Pueblo Dr Unit 1862 Hemet, CA	2.0	2.0	977	$1,750	$1.79	24d	1	0.92mi
1862 Pueblo Dr Hemet, CA	2.0	2.0	977	$1,900	$1.94	44d	1	0.92mi
663 Mariposa Dr Hemet, CA	2.0	2.0	1440	$1,500	$1.04	24d	1	0.93mi
2770 W Devonshire Ave Hemet, CA	1.0–2.0	1.0–2.0	707	$1,945	$2.75	2d	11	1.03mi
3471 Dublin Ct Hemet, CA	3.0	2.0	1276	$2,895	$2.27	4d	1	1.07mi
1559 Park Meadows Dr San Jacinto, CA	3.0	2.0	1644	$2,675	$1.63	44d	1	1.10mi
446 N Elk St Unit D Hemet, CA	2.0	1.0	980	$1,675	$1.71	24d	1	1.10mi
1270 Rosalia Ave Unit 1 Hemet, CA	2.0	1.0	900	$1,800	$2.00	44d	1	1.16mi
250 N Elk St Hemet, CA	2.0	1.0	900	$1,625	$1.81	14d	1	1.33mi
3800 W Devonshire Ave Hemet, CA	3.0	1.0–2.0	816	$2,055	$2.52	2d	8	1.39mi
1315 W Latham Ave Hemet, CA	3.0	2.5	1340	$2,550	$1.90	44d	1	1.42mi
1410 Cottonwood Ave San Jacinto, CA	2.0	1.5	1257	$2,300	$1.83	44d	1	1.49mi
1106 Don Carlos Ct San Jacinto, CA	3.0	2.0	1389	$2,999	$2.16	44d	1	1.49mi

Listing history 13 events

1. 2026-06-08
   days on market $99,999 Coming Soon 20 DOM
2. 2026-06-07
   days on market $99,999 Coming Soon 19 DOM
3. 2026-06-04
   days on market $99,999 Coming Soon 16 DOM
4. 2026-06-03
   days on market $99,999 Coming Soon 15 DOM
5. 2026-06-02
   days on market $99,999 Coming Soon 14 DOM
6. 2026-06-01
   days on market $99,999 Coming Soon 13 DOM
7. 2026-05-31
   days on market $99,999 Coming Soon 12 DOM
8. 2026-05-19
   historical $99,999
9. 2024-02-01
   listed $139,000 Active
10. 2009-01-29
    historical
11. 2008-12-18
    price $45,000
12. 2008-11-17
    price $50,000
13. 2008-09-02
    listed $55,000

ⓘ 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: $522 · $43/mo
• Projected year-2 tax: $760 · $63/mo
• Expected delta: +$238/yr (+$20/mo · 45.7%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 8/10 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: $26,506
• − Mortgage interest: −$5,601
• − Property taxes: −$522
• − Insurance: −$500
• − Repairs & maintenance: −$2,121
• − Management: −$2,121
• − Depreciation: −$2,909
• Taxable income: $12,733
• Est. tax owed @ 24.0%: −$3,056
• After-tax cash flow: $10,569/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

+81.8% since first listed

6 events — show timeline

• 2026-05-19 Coming Soon $99,999 CRMLS
• 2024-02-01 Listed $139,000 CRMLS
• 2009-01-29 Listing Removed — CRMLS
• 2008-12-18 Price Changed $45,000 CRMLS
• 2008-11-17 Price Changed $50,000 CRMLS
• 2008-09-02 Listed $55,000 CRMLS

Property tax history

-2.9%/yr

Latest (2025): $522 · +2.3% YoY. Source: county tax records.