5001 W Florida #295 · Hemet, CA 92545

$59,900

2 bd · 2.0 ba · 1,440 sqft · Manufactured public records · 45 Days on market

Built 1980 5,000 sqft lot $42/sqft · 15% below area Est $71k · 15% under

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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 +14.3/15.0
• 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
• Appreciation +0.0/10.0

Listing remarks MLS

Great home that has new carpet, flooring and paint throughout. Guest and den on street end with master suite in back. Living room with vaulted ceilings is open to kitchen and dining. Deck on shaded side of home with room for gardening or additional patio. Large laundry room and parking in the carport for up to 3 cars. This home comes with a one year home warranty.

Key facts

• Open floor plan
• Large laundry area
• Extended driveway

Tags

• OVERSIZED GREENBELT LOT
• GUARD GATED COMMUNITY
• OPEN FLOOR PLAN
• VAULTED CEILINGS
• LARGE LAUNDRY AREA
• EXTENDED DRIVEWAY

Property features AI

Finance

• Other: Senior park with manager approval required; Park name: The Lakes at Hemet; Park type: Senior; Mobile/manufactured home dimensions: approx. 24' wide x 60' long
• Financial info: Land lease amount listed (annual/period info provided separately) - verify current lease terms
• HOA & community: Association amenities and management provided; Association pet rules apply; Association fee frequency: annually; Monthly association fees reported as $0 (verify with HOA); Space rent includes trash

Exterior

• Parking: 2 covered/assigned spaces; 2 carport spaces (attached carport); Additional driveway parking for guests; Total of 6 parking spaces
• Security: Gated community; 24-hour security; Card/code access; Controlled access
• Utilities: PUD; Cable TV available; Sewer connected and paid
• Home design: Detached double-wide manufactured home; Single level (1 story), ground level with no unit above; Updated/remodeled condition
• Construction: Siding exterior; Slab foundation; Assessor-sourced year built; Synthetic siding skirt; One shed on property
• Exterior features: Gated community with 24-hour security and card/code access; Community amenities include clubhouse, fitness center, meeting/banquet rooms, recreation rooms, billiard and card rooms, barbecue and picnic areas, fire pit, controlled access, guest parking, greenbelt/park, lake or pond, golf course, tennis and paddle tennis courts, pickleball courts; Patio with awning(s), covered deck; Rain gutters; Sprinkler system; Landscaped, rectangular lot; Close to clubhouse, park nearby, greenbelt; Street lights; Lease land type (mobile/manufactured home park; senior park)

Interior

• Kitchen: Island; Remodeled kitchen; Quartz counters; Pantry; Kitchen island / breakfast nook / dining area
• Bedrooms: Main floor bedroom; Main floor master bedroom
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms; Double vanities; Shower stall; Shower and tub; Remodeled bathrooms
• Heating & cooling: Natural gas heating; Central heating (forced air); Central air conditioning
• Interior features: Living room deck attached; Recessed lighting; Open floorplan; Ground-level entry with steps; Unfurnished
• Laundry & utility: Dedicated laundry room; Washer; Dryer; Water line to refrigerator; Water heater (central)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $60k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Cap rate 31.7% 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 $414 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 $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y 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 $20k; list at $60k 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 $58,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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: 3.44% ✓
• Cap rate: 31.67%
• Cash-on-cash: 90.63%
• DSCR: 5.03
• GRM: 2.4

CMA / ARV

• ARV (median comp): $70,510
• List price: $59,900
• Delta: -15.05%
• Verdict: UNDERPRICED
• 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	0.00mi	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	98
5001 W Florida Ave #482	0.00mi	2/2.0	1,440 (0%)	4mo	$55,000	$38	97
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%)	5mo	$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: 92.1%
• Equity multiple: 5.32×
• Total profit: $72,514
• Equity at exit: $8,931

10-year hold

• IRR: 95.1%
• Equity multiple: 11.34×
• Total profit: $173,464
• Equity at exit: $5,179

Cash invested: $16,772 (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: 2.4×

Monthly cashflow live

• Estimated rent: $2,061 high
• Mortgage (P&I): −$314
• Tax from tax record: −$23 /mo · $273/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$433
• Net cashflow: $1,267

Break-even live

Break-even rent $458

Max offer price $59,900

Occupancy floor 34%

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: $14,975
• Closing costs: $1,797
• 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	14d	1	0.51mi
4400 W Florida Ave Unit 86 Hemet, CA	3.0	2.0	1310	$1,800	$1.37	43d	1	0.54mi
3800 W Devonshire Ave Hemet, CA	3.0	1.0–2.0	816	$2,055	$2.52	1d	8	1.07mi
3030 W Acacia Ave Hemet, CA	1.0–3.0	1.0–2.0	892	$1,895	$2.12	1d	10	1.25mi
2971 Pembroke Ave Hemet, CA	3.0	2.0	1572	$3,000	$1.91	18d	1	1.29mi
3471 Dublin Ct Hemet, CA	3.0	2.0	1276	$2,895	$2.27	4d	1	1.39mi

Listing history 17 events

1. 2026-06-18
   days on market $59,900 Active 45 DOM
2. 2026-06-17
   days on market $59,900 Active 44 DOM
3. 2026-06-16
   days on market $59,900 Active 43 DOM
4. 2026-06-15
   days on market $59,900 Active 42 DOM
5. 2026-06-13
   days on market $59,900 Active 40 DOM
6. 2026-06-09
   days on market $59,900 Active 36 DOM
7. 2026-06-08
   days on market $59,900 Active 35 DOM
8. 2026-06-07
   days on market $59,900 Active 34 DOM
9. 2026-06-04
   days on market $59,900 Active 31 DOM
10. 2026-06-03
    days on market $59,900 Active 30 DOM
11. 2026-06-02
    days on market $59,900 Active 29 DOM
12. 2026-06-01
    days on market $59,900 Active 28 DOM
13. 2026-05-31
    days on market $59,900 Active 27 DOM
14. 2026-05-04
    listed $59,900 Active 1228-char remark
15. 2015-03-11
    soldstatus $20,000 Closed Sale 366-char remark

    Show marketing remark (366 chars)

    Great home that has new carpet, flooring and paint throughout. Guest and den on street end with master suite in back. Living room with vaulted ceilings is open to kitchen and dining. Deck on shaded side of home with room for gardening or additional patio. Large laundry room and parking in the carport for up to 3 cars. This home comes with a one year home warranty.

16. 2015-02-21
    status Pending Sale 366-char remark

    Show marketing remark (366 chars)

    Great home that has new carpet, flooring and paint throughout. Guest and den on street end with master suite in back. Living room with vaulted ceilings is open to kitchen and dining. Deck on shaded side of home with room for gardening or additional patio. Large laundry room and parking in the carport for up to 3 cars. This home comes with a one year home warranty.

17. 2015-01-02
    listed $21,900 Active 366-char remark

    Show marketing remark (366 chars)

    Great home that has new carpet, flooring and paint throughout. Guest and den on street end with master suite in back. Living room with vaulted ceilings is open to kitchen and dining. Deck on shaded side of home with room for gardening or additional patio. Large laundry room and parking in the carport for up to 3 cars. This home comes with a one year home warranty.

ⓘ 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: $273 · $23/mo
• Projected year-2 tax: $455 · $38/mo
• Expected delta: +$182/yr (+$15/mo · 66.7%)

ⓘ 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: $24,737
• − Mortgage interest: −$3,355
• − Property taxes: −$273
• − Insurance: −$300
• − Repairs & maintenance: −$1,979
• − Management: −$1,979
• − Depreciation: −$1,743
• Taxable income: $15,109
• Est. tax owed @ 24.0%: −$3,626
• After-tax cash flow: $11,574/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

+173.5% since first listed

4 events — show timeline

• 2026-05-04 Listed $59,900 GPSMLS
• 2015-03-11 Sold (MLS) $20,000 CRMLS
• 2015-02-21 Pending — CRMLS
• 2015-01-02 Listed $21,900 CRMLS

Property tax history

+0.3%/yr

Latest (2025): $273 · +2.6% YoY. Source: county tax records.