5001 W Florida #74 · Hemet, CA 92545

$90,000

2 bd · 2.0 ba · 1,440 sqft · Manufactured public records · 25 Days on market

Built 1973 Est $68k · 33% 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
• 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

Welcome to the Lakes at Hemet West, This property is waterfront in a guard gated, 55 + community , Large Clubhouse With Dance Floor, pool, BBQ area, 9-hole golf course dog park, Enjoy an open layout with two built in units and a kitchen island that offers open floors , 2 bedrooms and 2 bathrooms, Master bedrooms futures walk in closets and a bath tub the community has lots of activities

Key facts

• Dog park
• Bbq area
• Large clubhouse

Tags

• WATERFRONT
• GUARD GATED
• LARGE CLUBHOUSE
• BBQ AREA
• 9-HOLE GOLF COURSE
• DOG PARK

Property features AI

Finance

• Other: Manager approval required for residency; Pets allowed with breed restrictions
• Financial info: Land lease of $1,235
• HOA & community: Part of an association; Senior community

Exterior

• Parking: Located in The Lake at Hemet park
• Utilities: Public sewer; District/public water
• Home design: Manufactured/mobile home (24' x 60'); Single-story; Mobile home remains on site
• Construction: Year built per public records
• Exterior features: Community pool; Neighborhood amenities include golf course, biking, dog park, hiking, lake, and park

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (furnace); Central cooling
• Interior features: All bedrooms on the ground floor; Single-level home; Side entry
• Laundry & utility: On-site laundry available; Gas dryer hookup and gas & electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $90k.

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 $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.
• Cap rate 21.0% vs local median 4.8% 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+, amenities F, commute 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.
• Zoned schools: Harmony Elementary (684 students, 84% FRL); Diamond Valley Middle (math 10% / reading 10%, grade F, #474 of 498 statewide, top 99%, 1,078 students, 91% FRL); West Valley High (math 18% / reading 40%, grade F, #770 of 1,170 statewide, top 66%, 1,898 students, 88% FRL) — zoned schools average 88% FRL vs 66% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.7%/yr); 292 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 $622 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 $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 5y 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 $30k; list at $90k implies a 200% 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 $88,650 (1.5% below list)

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 2.29% ✓
• Cap rate: 21.02%
• Cash-on-cash: 52.61%
• DSCR: 3.34
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $67,680
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5001 W Florida #171	0.00mi	2/2.0	1,440 (0%)	1mo	$67,000	$47	99
5001 FLORIDA #311	0.00mi	2/2.0	1,440 (0%)	1mo	$73,990	$51	99
5001 W Florida Ave #305	0.00mi	2/2.0	1,440 (0%)	2mo	$91,000	$63	98
5001 W Florida #661	0.00mi	2/2.0	1,440 (0%)	3mo	$97,000	$67	97
5001 W Florida Ave #482	0.00mi	2/2.0	1,440 (0%)	4mo	$55,000	$38	96
5001 W Florida #524	0.00mi	2/2.0	1,488 (+3%)	3mo	$62,000	$42	92
5001 W Florida #618	0.00mi	2/2.0	1,344 (-7%)	4mo	$70,000	$52	86
5001 W Florida Ave W #728	0.00mi	2/2.0	1,344 (-7%)	4mo	$56,000	$42	86
5001 W Florida Ave #135	0.10mi	2/2.0	1,504 (+4%)	6mo	$55,000	$37	83
5001 W Florida Ave #139	0.00mi	2/2.0	1,560 (+8%)	5mo	$105,000	$67	82
5001 W Florida Ave #122	0.10mi	2/2.0	1,296 (-10%)	0mo	$52,500	$41	78
5001 W Florida #695	0.10mi	2/2.0	1,248 (-13%)	5mo	$45,000	$36	69

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: 51.4%
• Equity multiple: 3.27×
• Total profit: $57,298
• Equity at exit: $13,419

10-year hold

• IRR: 57.0%
• Equity multiple: 6.83×
• Total profit: $146,831
• Equity at exit: $7,782

Cash invested: $25,200 (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: 292
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $2,064 high
• Mortgage (P&I): −$472
• Tax from tax record: −$16 /mo · $193/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$433
• Net cashflow: $1,105

Break-even live

Break-even rent $665

Max offer price $90,000

Occupancy floor 41%

Sensitivity live

Price	-10% $1,156	-5% $1,130	+0% $1,105	+5% $1,079	+10% $946
Rent	-10% $942	-5% $1,023	+0% $1,105	+5% $1,186	+10% $1,268
Rate	-1.0pp $1,150	-0.5pp $1,128	base $1,105	+0.5pp $1,081	+1.0pp $1,058

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: $22,500
• Closing costs: $2,700
• 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	16d	1	0.51mi
4400 W Florida Ave Unit 86 Hemet, CA	3.0	2.0	1310	$1,800	$1.37	45d	1	0.54mi
3800 W Devonshire Ave Hemet, CA	3.0	1.0–2.0	816	$2,172	$2.66	0d	7	1.07mi
3030 W Acacia Ave Hemet, CA	1.0–2.0	1.0–2.0	807	$1,780	$2.20	0d	8	1.25mi
2971 Pembroke Ave Hemet, CA	3.0	2.0	1572	$3,000	$1.91	20d	1	1.29mi
3471 Dublin Ct Hemet, CA	3.0	2.0	1276	$2,895	$2.27	5d	1	1.39mi

Listing history 31 events

1. 2026-06-21
   days on market $90,000 Active 25 DOM
2. 2026-06-18
   days on market $90,000 Active 22 DOM
3. 2026-06-17
   days on market $90,000 Active 21 DOM
4. 2026-06-16
   days on market $90,000 Active 20 DOM
5. 2026-06-15
   days on market $90,000 Active 19 DOM
6. 2026-06-13
   days on market $90,000 Active 17 DOM
7. 2026-06-09
   days on market $90,000 Active 13 DOM
8. 2026-06-08
   days on market $90,000 Active 12 DOM
9. 2026-06-07
   days on market $90,000 Active 11 DOM
10. 2026-06-04
    days on market $90,000 Active 8 DOM
11. 2026-06-03
    days on market $90,000 Active 7 DOM
12. 2026-06-02
    days on market $90,000 Active 6 DOM
13. 2026-06-01
    days on market $90,000 Active 5 DOM
14. 2026-05-31
    days on market $90,000 Active 4 DOM
15. 2026-05-27
    listed $90,000 Active
16. 2024-12-28
    historical
17. 2024-12-13
    price $40,000
18. 2024-12-05
    price $48,000
19. 2024-12-01
    price $58,000
20. 2024-11-28
    price $65,000
21. 2024-11-20
    price $80,000
22. 2024-11-15
    price $99,000
23. 2024-11-06
    listed $105,000 Active
24. 2024-11-03
    historical
25. 2024-11-02
    price $120,000
26. 2024-10-23
    listed $139,000 Active
27. 2024-10-21
    historical
28. 2021-04-29
    soldstatus $30,000 Closed Sale
29. 2021-04-13
    status Pending Sale
30. 2021-04-13
    status Active
31. 2021-03-30
    listed $30,000 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: $193 · $16/mo
• Projected year-2 tax: $684 · $57/mo
• Expected delta: +$491/yr (+$41/mo · 254.1%)

ⓘ 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 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: $24,764
• − Mortgage interest: −$5,041
• − Property taxes: −$193
• − Insurance: −$450
• − Repairs & maintenance: −$1,981
• − Management: −$1,981
• − Depreciation: −$2,618
• Taxable income: $12,499
• Est. tax owed @ 24.0%: −$3,000
• After-tax cash flow: $10,257/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

+200.0% since first listed

17 events — show timeline

• 2026-05-27 Listed $90,000 CRMLS
• 2024-12-28 Listing Removed — CRMLS
• 2024-12-13 Price Changed $40,000 CRMLS
• 2024-12-05 Price Changed $48,000 CRMLS
• 2024-12-01 Price Changed $58,000 CRMLS
• 2024-11-28 Price Changed $65,000 CRMLS
• 2024-11-20 Price Changed $80,000 CRMLS
• 2024-11-15 Price Changed $99,000 CRMLS
• 2024-11-06 Listed $105,000 CRMLS
• 2024-11-03 Listing Removed — CRMLS
• 2024-11-02 Price Changed $120,000 CRMLS
• 2024-10-23 Listed $139,000 CRMLS
• 2024-10-21 Coming Soon — CRMLS
• 2021-04-29 Sold (MLS) $30,000 CRMLS
• 2021-04-13 Pending — CRMLS
• 2021-04-13 Relisted — CRMLS
• 2021-03-30 Listed $30,000 CRMLS

Property tax history

-1.6%/yr

Latest (2025): $193 · +2.0% YoY. Source: county tax records.