5001 W Florida Ave · Hemet, CA 92545

$74,995

2 bd · 2.0 ba · 1,140 sqft · Manufactured public records · 40 Days on market

Built 1978 Est $63k · 19% over · waterfront

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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

Price: $74,995.00 Space Rent is $1,245.00 Mobile Home with Natural Paradise, Lake Front & amp; Waterfalls Views Cascading Down Natural Boulders!!! Located in: The Lakes at Hemet West (92545) Listed By: For Sale By Owner Acceptable Terms: Cash or New Loan, Will Not Carry Back, No Owner Financing. Pre Qualified Buyers Will Be Offered to Set Up a Private Showing. Appointments Only! Very Rare Opportunity!!! MOBILE HOME, 55+ Senior Park Younger Partner/Spouse: A person under 55 (but 45+) can live there if they are a spouse, cohabitant, or providing primary physical/economic support to the 55+ resident. Not a Spouse: The person does not need to be married to the 55+ resident; a &

Key facts

• 9 hole golf course
• Lake front clubhouse
• Waterfalls views

Tags

• LAKE FRONT VIEWS
• WATERFALLS VIEWS
• REMOTE CONTROLLED AWNING
• PUTTING GREEN
• 9 HOLE GOLF COURSE
• LAKE FRONT CLUBHOUSE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $75k.

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 $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.
• Cap rate 23.5% 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; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).
• This rent runs 37% 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 $518 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 $21k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 24y 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 $54k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $72,745 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% 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. 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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
9. 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.
10. 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.
11. 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: 2.62% ✓
• Cap rate: 23.51%
• Cash-on-cash: 61.50%
• DSCR: 3.74
• GRM: 3.2

CMA / ARV

• ARV (on-the-fly): $63,099
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5001 W Florida #476	0.00mi	2/2.0	1,120 (-2%)	2mo	$45,000	$40	95
5001 W Florida Ave #230	0.00mi	2/2.0	1,152 (+1%)	6mo	$45,000	$39	93
5001 W Florida Ave #665	0.00mi	2/2.0	1,248 (+10%)	7mo	$40,000	$32	79
5001 Florida Ave #663	0.00mi	2/2.0	1,243 (+9%)	10mo	$74,900	$60	77
5001 W Florida Ave #545	0.00mi	2/2.0	1,248 (+10%)	9mo	$45,000	$36	77
5001 W Florida Ave #723	0.00mi	2/2.0	1,248 (+10%)	10mo	$42,000	$34	76
5001 W Florida #695	0.10mi	2/2.0	1,248 (+10%)	5mo	$45,000	$36	75
5001 W Florida Ave #175	0.00mi	3/2.0 (+1)	1,248 (+10%)	6mo	$90,000	$72	74
5001 W Florida Ave #122	0.10mi	2/2.0	1,296 (+14%)	0mo	$52,500	$41	72
4400 W FLORIDA Ave #254	0.54mi	2/2.0	1,152 (+1%)	9mo	$88,000	$76	66
4400 W Florida #215	0.54mi	2/2.0	1,076 (-6%)	2mo	$70,000	$65	64
5001 W Florida Ave #22	0.17mi	3/2.0 (+1)	1,248 (+10%)	13mo	$95,000	$76	61

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: 61.2%
• Equity multiple: 3.76×
• Total profit: $57,873
• Equity at exit: $11,182

10-year hold

• IRR: 66.0%
• Equity multiple: 7.90×
• Total profit: $144,820
• Equity at exit: $6,484

Cash invested: $20,999 (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: 3.2×

Monthly cashflow live

• Estimated rent: $1,966 high
• Mortgage (P&I): −$393
• Tax from tax record: −$53 /mo · $631/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$413
• Net cashflow: $1,076

Break-even live

Break-even rent $604

Max offer price $74,995

Occupancy floor 40%

Sensitivity live

Price	-10% $1,119	-5% $1,097	+0% $1,076	+5% $1,055	+10% $1,034
Rent	-10% $921	-5% $999	+0% $1,076	+5% $1,154	+10% $1,232
Rate	-1.0pp $1,114	-0.5pp $1,095	base $1,076	+0.5pp $1,057	+1.0pp $1,037

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: $18,749
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 5 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
3471 Dublin Ct Hemet, CA	3.0	2.0	1276	$2,895	$2.27	5d	1	1.39mi

Listing history 27 events

1. 2026-06-21
   days on market $74,995 Active 40 DOM
2. 2026-06-18
   days on market $74,995 Active 37 DOM
3. 2026-06-17
   days on market $74,995 Active 36 DOM
4. 2026-06-16
   days on market $74,995 Active 35 DOM
5. 2026-06-15
   days on market $74,995 Active 34 DOM
6. 2026-06-13
   days on market $74,995 Active 32 DOM
7. 2026-06-09
   days on market $74,995 Active 28 DOM
8. 2026-06-08
   days on market $74,995 Active 27 DOM
9. 2026-06-07
   days on market $74,995 Active 26 DOM
10. 2026-06-04
    days on market $74,995 Active 23 DOM
11. 2026-06-03
    days on market $74,995 Active 22 DOM
12. 2026-06-02
    days on market $74,995 Active 21 DOM
13. 2026-06-01
    days on market $74,995 Active 20 DOM
14. 2026-05-31
    days on market $74,995 Active 19 DOM
15. 2026-05-12
    listed $74,995 Active 3639-char remark
16. 2026-05-05
    historical
17. 2026-04-27
    price $25,000
18. 2026-03-26
    listed $38,000 Active
19. 2022-05-28
    historical
20. 2022-05-12
    listed $75,000 Active
21. 2021-09-29
    historical
22. 2021-08-31
    price $65,000
23. 2021-07-27
    listed $70,000 Active
24. 2011-10-26
    historical Hold
25. 2011-10-20
    listed $17,500 Active
26. 2002-06-11
    soldstatus $53,750
27. 2002-05-02
    listed $57,900

ⓘ 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: $631 · $53/mo
• Projected year-2 tax: $631 · $53/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $23,596
• − Mortgage interest: −$4,201
• − Property taxes: −$631
• − Insurance: −$375
• − Repairs & maintenance: −$1,888
• − Management: −$1,888
• − Depreciation: −$2,182
• Taxable income: $12,431
• Est. tax owed @ 24.0%: −$2,984
• After-tax cash flow: $9,931/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

+29.5% since first listed

13 events — show timeline

• 2026-05-12 Listed $74,995 FSBO.com
• 2026-05-05 Listing Removed — CRMLS
• 2026-04-27 Price Changed $25,000 CRMLS
• 2026-03-26 Listed $38,000 CRMLS
• 2022-05-28 Listing Removed — CRMLS
• 2022-05-12 Listed $75,000 CRMLS
• 2021-09-29 Listing Removed — CRMLS
• 2021-08-31 Price Changed $65,000 CRMLS
• 2021-07-27 Listed $70,000 CRMLS
• 2011-10-26 Delisted — CRMLS
• 2011-10-20 Listed $17,500 CRMLS
• 2002-06-11 Sold (MLS) $53,750 CRMLS
• 2002-05-02 Listed $57,900 CRMLS

Property tax history

-1.7%/yr

Latest (2025): $631 · +2.0% YoY. Source: county tax records.