601 N Kirby St #557 · Hemet, CA 92545

$79,000

2 bd · 2.0 ba · 1,856 sqft · Manufactured public records · 99 Days on market

Built 1984 $43/sqft · 46% above area Est $54k · 46% over

---

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
• Rent growth +3.4/5.0
• Livability +2.6/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to resort-style living in the desirable Colonial Country Club 55+ community in Hemet! This charming 2 bedroom, 2 bathroom manufactured home is perfectly located right in front of the golf course, offering stunning green views and a peaceful atmosphere. Step inside to a large, inviting living room with comfortable carpet throughout, perfect for relaxing or entertaining. The home also features a bonus room with a cozy chimney, creating a warm and welcoming space to unwind while taking in the serene view of green grass and swaying trees right in front of you. The cozy kitchen offers beautiful views of the lush green golf course and mountains, making everyday cooking feel special. Just off the kitchen is a laundry room that can also serve as a home office, plus extra cabinets for additional storage. The spacious primary bedroom includes a generous walk-in closet and a private bathroom with dual sinks, a relaxing sunken tub, and a convenient walk-in shower. The second bedroom is nicely sized and connects to a Jack-and-Jill bathroom, perfect for guests. Step outside to enjoy the great covered patio, where you can relax and take in the beautiful golf course views. The home also includes parking space for 2-3 cars and central AC and heating for year-round comfort. Community Amenities Include: Clubhouse * Event center (perfect for parties and gatherings) * Golf course * Beauty salon and dog grooming salon * Pet park * Pool and jacuzzi This community truly offers resort-style living and a wonderful place to retire. Conveniently located close to great restaurants, shopping, casinos, and more! Beautiful home, priced to sell -- it won't last long! Come experience this beautiful home in person--book your visit today!

Key facts

• Event center
• Community clubhouse
• Bonus room

Tags

• GOLF COURSE VIEWS
• BONUS ROOM
• COVERED PATIO
• COMMUNITY CLUBHOUSE
• EVENT CENTER
• PET PARK

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $79k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $79k).
• Recommended offer: $72k (9.0% below list) — sets the bar for market timing.
• Cap rate 26.6% 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; 13 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 43% 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 $546 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 99 days — a 9% lower offer ($72k) is reasonable based on typical stale-listing flexibility.
• 7 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.

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 $71,890 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 2.91% ✓
• Cap rate: 26.56%
• Cash-on-cash: 72.37%
• DSCR: 4.22
• GRM: 2.9

CMA / ARV

• ARV (median comp): $54,187
• List price: $79,000
• Delta: 45.79%
• Verdict: OVERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
601 N Kirby St #437	0.17mi	2/2.0	1,790 (-4%)	11mo	$55,000	$31	77
601 N Kirby St #440	0.08mi	2/2.0	1,808 (-3%)	22mo	$145,000	$80	74
601 N Kirby St #404	0.17mi	2/2.0	1,890 (+2%)	21mo	$105,000	$56	72
601 N Kirby St #292	0.17mi	2/2.0	1,720 (-7%)	10mo	$50,000	$29	72
601 N Kirby St #553	0.04mi	2/2.0	1,590 (-14%)	7mo	$75,000	$47	69
601 N Kirby #269	0.17mi	3/2.0 (+1)	1,652 (-11%)	6mo	$105,000	$64	64
601 N Kirby St #151	0.40mi	2/2.0	2,000 (+8%)	10mo	$55,000	$28	60
601 N Kirby St #417	0.14mi	3/2.5 (+1)	2,040 (+10%)	13mo	$78,000	$38	59
601 Kirby St #408	0.30mi	2/2.0	1,582 (-15%)	24mo	$70,000	$44	42

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: 72.9%
• Equity multiple: 4.34×
• Total profit: $73,878
• Equity at exit: $11,779

10-year hold

• IRR: 76.9%
• Equity multiple: 9.18×
• Total profit: $180,884
• Equity at exit: $6,830

Cash invested: $22,120 (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: 2.9×

Monthly cashflow live

• Estimated rent: $2,296 high
• Mortgage (P&I): −$414
• Tax from tax record: −$33 /mo · $392/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$482
• Net cashflow: $1,334

Break-even live

Break-even rent $607

Max offer price $79,000

Occupancy floor 37%

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3471 Dublin Ct Hemet, CA	3.0	2.0	1276	$2,895	$2.27	4d	1	0.22mi
853 Ensenada Dr Hemet, CA	2.0	2.0	1350	$1,875	$1.39	24d	1	0.38mi
853 Ensenada Dr Hemet, CA	2.0	2.0	1350	$1,875	$1.39	12d	1	0.38mi
2208 El Grande St Hemet, CA	2.0	2.0	1327	$2,100	$1.58	18d	1	0.73mi
1245 Millie Dr Hemet, CA	3.0	2.0	1392	$2,850	$2.05	8d	1	0.75mi
1700 Walden Ln Hemet, CA	3.0	2.0	1430	$2,670	$1.87	24d	1	0.92mi
543 La Cresta Dr Hemet, CA	2.0	2.0	1544	$1,595	$1.03	44d	1	0.97mi
4400 W Florida Ave Unit 86 Hemet, CA	3.0	2.0	1310	$1,800	$1.37	44d	1	1.07mi
663 Mariposa Dr Hemet, CA	2.0	2.0	1440	$1,500	$1.04	24d	1	1.13mi
1967 Connor Ln San Jacinto, CA	3.0	2.5	1708	$2,950	$1.73	8d	1	1.25mi
828 Coramdeo Ct Hemet, CA	3.0	2.0	1543	$3,000	$1.94	44d	1	1.27mi
1315 W Latham Ave Hemet, CA	3.0	2.5	1340	$2,550	$1.90	44d	1	1.29mi
1844 Paradise Way San Jacinto, CA	3.0	2.0	1540	$3,000	$1.95	44d	1	1.32mi

Listing history 31 events

1. 2026-06-18
   days on market $79,000 Active 99 DOM
2. 2026-06-17
   days on market $79,000 Active 98 DOM
3. 2026-06-16
   days on market $79,000 Active 97 DOM
4. 2026-06-15
   days on market $79,000 Active 96 DOM
5. 2026-06-13
   days on market $79,000 Active 94 DOM
6. 2026-06-09
   days on market $79,000 Active 90 DOM
7. 2026-06-08
   days on market $79,000 Active 89 DOM
8. 2026-06-07
   days on market $79,000 Active 88 DOM
9. 2026-06-04
   days on market $79,000 Active 85 DOM
10. 2026-06-03
    days on market $79,000 Active 84 DOM
11. 2026-06-02
    days on market $79,000 Active 83 DOM
12. 2026-06-01
    days on market $79,000 Active 82 DOM
13. 2026-05-31
    days on market $79,000 Active 81 DOM
14. 2026-03-10
    listed $79,000 Active 1745-char remark

    Show marketing remark (1745 chars)

    Welcome to resort-style living in the desirable Colonial Country Club 55+ community in Hemet! This charming 2 bedroom, 2 bathroom manufactured home is perfectly located right in front of the golf course, offering stunning green views and a peaceful atmosphere. Step inside to a large, inviting living room with comfortable carpet throughout, perfect for relaxing or entertaining. The home also features a bonus room with a cozy chimney, creating a warm and welcoming space to unwind while taking in the serene view of green grass and swaying trees right in front of you. The cozy kitchen offers beautiful views of the lush green golf course and mountains, making everyday cooking feel special. Just off the kitchen is a laundry room that can also serve as a home office, plus extra cabinets for additional storage. The spacious primary bedroom includes a generous walk-in closet and a private bathroom with dual sinks, a relaxing sunken tub, and a convenient walk-in shower. The second bedroom is nicely sized and connects to a Jack-and-Jill bathroom, perfect for guests. Step outside to enjoy the great covered patio, where you can relax and take in the beautiful golf course views. The home also includes parking space for 2-3 cars and central AC and heating for year-round comfort. Community Amenities Include: Clubhouse * Event center (perfect for parties and gatherings) * Golf course * Beauty salon and dog grooming salon * Pet park * Pool and jacuzzi This community truly offers resort-style living and a wonderful place to retire. Conveniently located close to great restaurants, shopping, casinos, and more! Beautiful home, priced to sell -- it won't last long! Come experience this beautiful home in person--book your visit today!

15. 2025-03-17
    historical
16. 2025-02-04
    price $79,600
17. 2025-01-08
    listed $82,000 Active
18. 2025-01-05
    historical
19. 2024-10-20
    price $88,000
20. 2024-09-23
    price $96,500
21. 2024-09-05
    listed $102,000 Active
22. 2023-11-25
    historical
23. 2023-07-13
    listed $91,000 Active
24. 2022-11-02
    soldstatus $70,000 Closed Sale
25. 2022-08-30
    status Pending Sale
26. 2022-08-18
    listed $73,900 Active
27. 2022-06-30
    soldstatus $23,500 Closed Sale
28. 2022-06-09
    status Pending Sale
29. 2022-06-01
    listed $24,900 Active
30. 2016-06-17
    historical
31. 2016-06-02
    listed $29,000 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: $392 · $33/mo
• Projected year-2 tax: $600 · $50/mo
• Expected delta: +$208/yr (+$17/mo · 53.1%)

ⓘ 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 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 12 unhealthy d/yr today · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,552
• − Mortgage interest: −$4,425
• − Property taxes: −$392
• − Insurance: −$395
• − Repairs & maintenance: −$2,204
• − Management: −$2,204
• − Depreciation: −$2,298
• Taxable income: $15,634
• Est. tax owed @ 24.0%: −$3,752
• After-tax cash flow: $12,256/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

+172.4% since first listed

18 events — show timeline

• 2026-03-10 Listed $79,000 GPSMLS
• 2025-03-17 Listing Removed — CRMLS
• 2025-02-04 Price Changed $79,600 CRMLS
• 2025-01-08 Listed $82,000 CRMLS
• 2025-01-05 Listing Removed — CRMLS
• 2024-10-20 Price Changed $88,000 CRMLS
• 2024-09-23 Price Changed $96,500 CRMLS
• 2024-09-05 Listed $102,000 CRMLS
• 2023-11-25 Listing Removed — CRMLS
• 2023-07-13 Listed $91,000 CRMLS
• 2022-11-02 Sold (MLS) $70,000 CRMLS
• 2022-08-30 Pending — CRMLS
• 2022-08-18 Listed $73,900 CRMLS
• 2022-06-30 Sold (MLS) $23,500 CRMLS
• 2022-06-09 Pending — CRMLS
• 2022-06-01 Listed $24,900 CRMLS
• 2016-06-17 Listing Removed — CRMLS
• 2016-06-02 Listed $29,000 CRMLS

Property tax history

-1.5%/yr

Latest (2025): $392 · +2.4% YoY. Source: county tax records.