1797 W Johnston · Hemet, CA 92545

$140,000

2 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 114 Days on market

Built 1974 4,356 sqft lot $104/sqft · 7% below area Est $150k · 7% under $168/mo HOA · 8% of rent

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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
• ARV discount +10.6/15.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• 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 MLS

Welcome to 1797 W Johnston, located in the highly desirable Sierra Dawn 55+ community! Located near shopping, dining, and local services, this home offers comfort, convenience, and community living at its best. Sierra Dawn Estates' amenities include 4 clubhouses, 5 pools, Jacuzzi's, Sauna, Exercise Room, Shuffle Board and various other activities. .. contact management to hear all about it!

Key facts

• Sauna
• Exercise room
• 4 clubhouses

Tags

• SIERRA DAWN COMMUNITY
• 4 CLUBHOUSES
• 5 POOLS
• JACUZZI
• SAUNA
• EXERCISE ROOM

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $140k.

Deal economics

• At list price, monthly cash flow is $555 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $127k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.1% 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; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 38% 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 $968 of loan paydown is wiped out by about $4k 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 $39k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $19k; list at $140k implies a 637% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $127,400 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — 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. 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.
9. 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.
10. 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: 1.44% ✓
• Cap rate: 11.05%
• Cash-on-cash: 17.00%
• DSCR: 1.76
• GRM: 5.8

CMA / ARV

• ARV (median comp): $150,500
• List price: $140,000
• Delta: -6.98%
• 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
930 S Santa Victoria	0.29mi	3/2.0 (+1)	1,356 (+1%)	1mo	$140,000	$103	79
1760 Santiago	0.25mi	2/2.0	1,248 (-7%)	0mo	$118,000	$95	76
1631 Bella Vis	0.26mi	2/2.0	1,440 (+7%)	0mo	$147,115	$102	75
942 Santa Elena	0.09mi	2/1.5	1,503 (+12%)	0mo	$144,000	$96	74
575 S Lyon Ave #34	0.41mi	2/2.0	1,440 (+7%)	1mo	$62,900	$44	68
1279 Sorrel Dr	0.45mi	2/2.0	1,440 (+7%)	0mo	$185,000	$128	67
1778 Burr Oak Way	0.35mi	3/2.0 (+1)	1,440 (+7%)	0mo	$190,000	$132	67
1207 Sorrel Dr	0.39mi	2/2.0	1,464 (+9%)	1mo	$198,000	$135	66
2205 acacia #62	0.66mi	2/2.0	1,400 (+4%)	1mo	$73,000	$52	62
1111 W Johnston Ave	0.44mi	2/2.0	1,200 (-11%)	0mo	$135,000	$113	61
1167 Via Del Mesa	0.42mi	2/2.0	1,152 (-14%)	1mo	$135,000	$117	56
1232 Brentwood Way	0.62mi	2/2.0	1,512 (+12%)	1mo	$240,000	$159	50

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: 9.2%
• Equity multiple: 1.36×
• Total profit: $14,264
• Equity at exit: $20,874

10-year hold

• IRR: 19.0%
• Equity multiple: 2.65×
• Total profit: $64,564
• Equity at exit: $12,105

Cash invested: $39,200 (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 92545

• Home prices YoY: -24.6%
• Rents YoY: 3.7%
• Active inventory: 290
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $2,019 high
• Mortgage (P&I): −$734
• Tax from tax record: −$79 /mo · $949/yr
• Insurance: −$58
• HOA: −$168
• Vacancy / Maint / Mgmt: −$424
• Net cashflow: $555

Break-even live

Break-even rent $1,316

Max offer price $140,000

Occupancy floor 68%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
120 Santa Lucia Dr Hemet, CA	2.0	2.0	1197	$1,600	$1.34	43d	1	0.31mi
101 San Mateo Cir Hemet, CA	2.0	2.0	1152	$1,725	$1.50	16d	1	0.34mi
1521 W Westmont Ave Hemet, CA	2.0	2.0	1197	$2,000	$1.67	43d	1	0.35mi
1955 Silver Oak Way Hemet, CA	3.0	2.0	1318	$2,250	$1.71	43d	1	0.43mi
683 Jonquil St Hemet, CA	3.0	2.0	1150	$2,448	$2.13	24d	1	0.47mi
1241 Sandlewood Dr Hemet, CA	2.0	1.5	1504	$2,000	$1.33	43d	1	0.53mi
1461 W Mayberry Ave Hemet, CA	2.0	2.0	1044	$1,750	$1.68	43d	1	0.54mi
471 Whitney Dr Hemet, CA	2.0	2.0	1085	$1,800	$1.66	5d	1	0.55mi
1850 Amberwood Dr Hemet, CA	2.0	2.0	1170	$1,561	$1.33	43d	1	0.58mi
611 S Palm Ave Unit K Hemet, CA	2.0	2.0	1254	$1,895	$1.51	7d	1	0.63mi
876 W Whittier Ave Unit 878 Hemet, CA	2.0	2.0	1127	$2,150	$1.91	24d	1	0.68mi
2971 Pembroke Ave Hemet, CA	3.0	2.0	1572	$3,000	$1.91	18d	1	0.68mi
2098 W Acacia Ave Hemet, CA	1.0–3.0	1.0–2.0	895	$2,035	$2.27	1d	1	0.78mi
2403 W Acacia Ave Hemet, CA	2.0	2.0	910	$1,995	$2.19	7d	1	0.79mi
2469 W Acacia Ave Hemet, CA	2.0	2.0	910	$1,750	$1.92	24d	1	0.80mi
1025 S Gilbert St Hemet, CA	1.0–2.0	1.0–2.0	890	$2,320	$2.61	1d	8	0.82mi
1354 Jasmine Way Hemet, CA	2.0	2.0	1440	$1,650	$1.15	43d	1	0.83mi
1005 S Gilbert St Hemet, CA	2.0	1.5	975	$1,825	$1.87	24d	2	0.84mi
471 S Simpson Ave Unit D Hemet, CA	2.0	2.0	900	$1,750	$1.94	43d	1	0.85mi
735 S Gilbert St Hemet, CA	3.0	2.0	1202	$2,400	$2.00	43d	1	0.88mi
415 S Tahquitz Ave Hemet, CA	3.0	2.0	1766	$2,900	$1.64	18d	1	0.93mi
716 Robert Dr Hemet, CA	3.0	2.0	1450	$2,300	$1.59	5d	1	0.99mi
424 W Mayberry Ave Unit 1 Hemet, CA	1.0	1.0	1664	$850	$0.51	7d	1	1.03mi
3030 W Acacia Ave Hemet, CA	1.0–3.0	1.0–2.0	892	$1,895	$2.12	1d	10	1.06mi
363 S Gilbert St Unit B Hemet, CA	3.0	2.0	1200	$1,900	$1.58	14d	1	1.06mi
363 S Gilbert St Hemet, CA	3.0	2.0	1200	$1,900	$1.58	4d	1	1.06mi
1315 W Latham Ave Hemet, CA	3.0	2.5	1340	$2,550	$1.90	43d	1	1.13mi
2971 Peach Tree St Hemet, CA	3.0	2.0	1834	$2,395	$1.31	43d	1	1.15mi
250 N Elk St Hemet, CA	2.0	1.0	900	$1,625	$1.81	14d	1	1.24mi
853 Douglas Ct Hemet, CA	2.0	2.0	1148	$1,850	$1.61	4d	1	1.28mi
860 Douglas Ct Hemet, CA	2.0	2.0	1114	$1,850	$1.66	18d	1	1.32mi
390 Magnolia Cir Hemet, CA	2.0	2.0	1038	$2,400	$2.31	4d	1	1.33mi
409 E Thornton Ave Hemet, CA	2.0	1.0	970	$1,912	$1.97	2d	2	1.39mi
1270 Rosalia Ave Unit 1 Hemet, CA	2.0	1.0	900	$1,800	$2.00	43d	1	1.44mi
2770 W Devonshire Ave Hemet, CA	1.0–2.0	1.0–2.0	707	$1,945	$2.75	1d	11	1.45mi
1862 Pueblo Dr Hemet, CA	2.0	2.0	977	$1,900	$1.94	43d	1	1.47mi
1862 Pueblo Dr Unit 1862 Hemet, CA	2.0	2.0	977	$1,750	$1.79	24d	1	1.47mi
678 Monterey Pl Hemet, CA	2.0	2.0	1047	$1,995	$1.91	43d	1	1.48mi
640 Vista del Monte Hemet, CA	3.0	2.0	1480	$2,650	$1.79	43d	1	1.49mi

HOA detail

• Monthly dues: $168 · $2,016/yr
• Likely covers: pool

Listing history 16 events

1. 2026-06-18
   days on market $140,000 Active 114 DOM
2. 2026-06-17
   days on market $140,000 Active 113 DOM
3. 2026-06-16
   days on market $140,000 Active 112 DOM
4. 2026-06-15
   days on market $140,000 Active 111 DOM
5. 2026-06-13
   days on market $140,000 Active 109 DOM
6. 2026-06-09
   days on market $140,000 Active 105 DOM
7. 2026-06-08
   days on market $140,000 Active 104 DOM
8. 2026-06-07
   days on market $140,000 Active 103 DOM
9. 2026-06-04
   days on market $140,000 Active 100 DOM
10. 2026-06-03
    days on market $140,000 Active 99 DOM
11. 2026-06-02
    days on market $140,000 Active 98 DOM
12. 2026-06-01
    days on market $140,000 Active 97 DOM
13. 2026-05-31
    days on market $140,000 Active 96 DOM
14. 2026-02-24
    listed $140,000 Active 394-char remark

    Show marketing remark (394 chars)

    Welcome to 1797 W Johnston, located in the highly desirable Sierra Dawn 55+ community! Located near shopping, dining, and local services, this home offers comfort, convenience, and community living at its best. Sierra Dawn Estates' amenities include 4 clubhouses, 5 pools, Jacuzzi's, Sauna, Exercise Room, Shuffle Board and various other activities. .. contact management to hear all about it!

15. 1996-09-18
    soldstatus $19,000
16. 1979-04-01
    soldstatus $22,000

ⓘ 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: $949 · $79/mo
• Projected year-2 tax: $1,064 · $89/mo
• Expected delta: +$115/yr (+$10/mo · 12.1%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 7/10 Severe 6 d/yr ≥104°F today · 17 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: $24,225
• − Mortgage interest: −$7,842
• − Property taxes: −$949
• − Insurance: −$700
• − Repairs & maintenance: −$1,938
• − Management: −$1,938
• − HOA: −$2,016
• − Depreciation: −$4,073
• Taxable income: $4,769
• Est. tax owed @ 24.0%: −$1,145
• After-tax cash flow: $5,518/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

+536.4% since first listed

3 events — show timeline

• 2026-02-24 Listed $140,000 CRMLS
• 1996-09-18 Sold (Public Records) $19,000 Public Records
• 1979-04-01 Sold (Public Records) $22,000 Public Records

Property tax history

+5.2%/yr

Latest (2025): $949 · +2.2% YoY. Source: county tax records.