5001 W Florida Ave #347 · Hemet, CA 92545

$79,900

2 bd · 2.0 ba · 1,440 sqft · Manufactured · 153 Days on market

Built 1978 Good condition $55/sqft · 35% above area Est $59k · 35% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Condition / age +3.8/5.0
• Rent growth +3.4/5.0
• Livability +2.6/5.0
• Schools +2.5/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

55+ Well maintained Beautiful Senior Community of The Lakes at Hemet West. This is a well kept up Double Wide Home There are 2 bedrooms and 2 bathroom, family room and large living room. There are so many amenities and lots of activities in this park with a huge swimming pool, spa, 9 hole golf course, library, art and painting, shuffleboard and men's and women's clubs just to list a few. There is much to see! . A true must see. Plus you get to enjoy all the amenities of our beautiful park. Free golf on our well manicured 9 hole par 3 golf course. Catch and release fishing, shuffleboard, pickle ball, just to name a few things you can do to stay active. call the Park at 951/925-2575 for rules and qualifications.

Key facts

• 2 parking spots
• Community pool
• Built 1978

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $80k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 22.3% 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; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 39% 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 $552 of loan paydown is wiped out by about $2k 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 $22k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 153 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 19y ago; this cycle's ask has dropped $10k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $22k; list at $80k implies a 263% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 3→9/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 153 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 1978 — 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: 2.56% ✓
• Cap rate: 22.30%
• Cash-on-cash: 57.18%
• DSCR: 3.54
• GRM: 3.3

CMA / ARV

• ARV (median comp): $59,000
• List price: $79,900
• Delta: 35.42%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5001 W Florida #171	0.10mi	2/2.0	1,440 (0%)	1mo	$67,000	$47	95
5001 FLORIDA #311	0.10mi	2/2.0	1,440 (0%)	1mo	$73,990	$51	94
5001 W Florida Ave #305	0.10mi	2/2.0	1,440 (0%)	2mo	$91,000	$63	93
5001 W Florida #661	0.10mi	2/2.0	1,440 (0%)	3mo	$97,000	$67	93
5001 W Florida Ave #482	0.10mi	2/2.0	1,440 (0%)	4mo	$55,000	$38	92
5001 W Florida Ave #135	0.01mi	2/2.0	1,504 (+4%)	5mo	$55,000	$37	88
5001 W Florida #524	0.10mi	2/2.0	1,488 (+3%)	3mo	$62,000	$42	87
5001 W Florida Ave #122	0.00mi	2/2.0	1,296 (-10%)	0mo	$52,500	$41	83
5001 W Florida #618	0.10mi	2/2.0	1,344 (-7%)	4mo	$70,000	$52	81
5001 W Florida Ave W #728	0.10mi	2/2.0	1,344 (-7%)	4mo	$56,000	$42	81
5001 W Florida Ave #139	0.10mi	2/2.0	1,560 (+8%)	5mo	$105,000	$67	77
5001 W Florida #695	0.00mi	2/2.0	1,248 (-13%)	5mo	$45,000	$36	74

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: 56.5%
• Equity multiple: 3.53×
• Total profit: $56,510
• Equity at exit: $11,913

10-year hold

• IRR: 61.7%
• Equity multiple: 7.40×
• Total profit: $143,152
• Equity at exit: $6,908

Cash invested: $22,372 (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: 3.3×

Monthly cashflow live

• Estimated rent: $2,048 high
• Mortgage (P&I): −$419
• Tax est. 1.5%: −$100 /mo · $1,198/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $1,066

Break-even live

Break-even rent $699

Max offer price $79,900

Occupancy floor 43%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4400 W Florida Ave Spc 26 Hemet, CA	3.0	2.0	1193	$1,699	$1.42	15d	1	0.46mi
4400 W Florida Ave Unit 86 Hemet, CA	3.0	2.0	1310	$1,800	$1.37	44d	1	0.49mi
3800 W Devonshire Ave Hemet, CA	3.0	1.0–2.0	816	$2,055	$2.52	2d	8	1.02mi
3030 W Acacia Ave Hemet, CA	1.0–3.0	1.0–2.0	892	$1,895	$2.12	2d	10	1.23mi
2971 Pembroke Ave Hemet, CA	3.0	2.0	1572	$3,000	$1.91	18d	1	1.32mi
3471 Dublin Ct Hemet, CA	3.0	2.0	1276	$2,895	$2.27	4d	1	1.34mi

Listing history 27 events

1. 2026-06-18
   days on market $79,900 Active 153 DOM
2. 2026-06-17
   days on market $79,900 Active 152 DOM
3. 2026-06-16
   days on market $79,900 Active 151 DOM
4. 2026-06-15
   days on market $79,900 Active 150 DOM
5. 2026-06-13
   days on market $79,900 Active 148 DOM
6. 2026-06-09
   days on market $79,900 Active 144 DOM
7. 2026-06-08
   days on market $79,900 Active 143 DOM
8. 2026-06-07
   days on market $79,900 Active 142 DOM
9. 2026-06-04
   days on market $79,900 Active 139 DOM
10. 2026-06-03
    days on market $79,900 Active 138 DOM
11. 2026-06-02
    days on market $79,900 Active 137 DOM
12. 2026-06-01
    days on market $79,900 Active 136 DOM
13. 2026-05-31
    days on market $79,900 Active 135 DOM
14. 2026-03-30
    price $79,900 719-char remark

    Show marketing remark (719 chars)

    55+ Well maintained Beautiful Senior Community of The Lakes at Hemet West. This is a well kept up Double Wide Home There are 2 bedrooms and 2 bathroom, family room and large living room. There are so many amenities and lots of activities in this park with a huge swimming pool, spa, 9 hole golf course, library, art and painting, shuffleboard and men's and women's clubs just to list a few. There is much to see! . A true must see. Plus you get to enjoy all the amenities of our beautiful park. Free golf on our well manicured 9 hole par 3 golf course. Catch and release fishing, shuffleboard, pickle ball, just to name a few things you can do to stay active. call the Park at 951/925-2575 for rules and qualifications.

15. 2026-02-18
    price $88,900 719-char remark

    Show marketing remark (719 chars)

    55+ Well maintained Beautiful Senior Community of The Lakes at Hemet West. This is a well kept up Double Wide Home There are 2 bedrooms and 2 bathroom, family room and large living room. There are so many amenities and lots of activities in this park with a huge swimming pool, spa, 9 hole golf course, library, art and painting, shuffleboard and men's and women's clubs just to list a few. There is much to see! . A true must see. Plus you get to enjoy all the amenities of our beautiful park. Free golf on our well manicured 9 hole par 3 golf course. Catch and release fishing, shuffleboard, pickle ball, just to name a few things you can do to stay active. call the Park at 951/925-2575 for rules and qualifications.

16. 2026-01-16
    listed $89,900 Active 719-char remark

    Show marketing remark (719 chars)

    55+ Well maintained Beautiful Senior Community of The Lakes at Hemet West. This is a well kept up Double Wide Home There are 2 bedrooms and 2 bathroom, family room and large living room. There are so many amenities and lots of activities in this park with a huge swimming pool, spa, 9 hole golf course, library, art and painting, shuffleboard and men's and women's clubs just to list a few. There is much to see! . A true must see. Plus you get to enjoy all the amenities of our beautiful park. Free golf on our well manicured 9 hole par 3 golf course. Catch and release fishing, shuffleboard, pickle ball, just to name a few things you can do to stay active. call the Park at 951/925-2575 for rules and qualifications.

17. 2026-01-09
    historical $89,900 719-char remark

    Show marketing remark (719 chars)

    55+ Well maintained Beautiful Senior Community of The Lakes at Hemet West. This is a well kept up Double Wide Home There are 2 bedrooms and 2 bathroom, family room and large living room. There are so many amenities and lots of activities in this park with a huge swimming pool, spa, 9 hole golf course, library, art and painting, shuffleboard and men's and women's clubs just to list a few. There is much to see! . A true must see. Plus you get to enjoy all the amenities of our beautiful park. Free golf on our well manicured 9 hole par 3 golf course. Catch and release fishing, shuffleboard, pickle ball, just to name a few things you can do to stay active. call the Park at 951/925-2575 for rules and qualifications.

18. 2025-01-23
    historical
19. 2024-11-14
    listed $79,900 Active
20. 2014-01-29
    historical
21. 2014-01-21
    listed $25,000 Active
22. 2008-08-29
    price $26,000 Closed
23. 2008-08-29
    soldstatus $22,000 Closed
24. 2008-07-01
    historical
25. 2007-11-01
    historical
26. 2007-06-19
    listed $39,900
27. 2007-06-15
    listed $26,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 7/10 Severe 3 d/yr ≥105°F today · 9 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 9 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,579
• − Mortgage interest: −$4,476
• − Property taxes: −$1,198
• − Insurance: −$400
• − Repairs & maintenance: −$1,966
• − Management: −$1,966
• − Depreciation: −$2,324
• Taxable income: $12,248
• Est. tax owed @ 24.0%: −$2,940
• After-tax cash flow: $9,852/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.

Condition & rehab AI · 0 photos

Good 75/100 Cosmetic rehab

This well-maintained manufactured home is in good condition with minimal updates needed to maximize its resale and rental value.

Value-add opportunities

• Both Painting exterior and interior — Fresh paint enhances curb appeal and interior aesthetics
• Both Landscaping improvements — Enhances curb appeal and adds value
• Both Upgrade lighting fixtures — Improves curb appeal and interior ambiance
• Both Install smart home devices — Enhances convenience and adds modern appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both Upgrade lighting fixtures — Improves curb appeal and interior ambiance ↑
• Both Install smart home devices — Enhances convenience and adds modern appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

+207.3% since first listed

14 events — show timeline

• 2026-03-30 Price Changed $79,900 CRMLS
• 2026-02-18 Price Changed $88,900 CRMLS
• 2026-01-16 Listed $89,900 CRMLS
• 2026-01-09 Coming Soon $89,900 CRMLS
• 2025-01-23 Listing Removed — CRMLS
• 2024-11-14 Listed $79,900 CRMLS
• 2014-01-29 Listing Removed — CRMLS
• 2014-01-21 Listed $25,000 CRMLS
• 2008-08-29 Sold (MLS) $22,000 CRMLS
• 2008-08-29 Price Changed $26,000 CRMLS
• 2008-07-01 Listing Removed — GPSMLS
• 2007-11-01 Listing Removed — CRMLS
• 2007-06-19 Listed $39,900 CRMLS
• 2007-06-15 Listed $26,000 GPSMLS