1097 N State #517 · Hemet, CA 92543

$139,999

2 bd · 2.0 ba · 1,152 sqft · Manufactured public records · 62 Days on market

Built 1986 $122/sqft · 11% above area Est $127k · 11% 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
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• Rent growth +2.9/5.0
• ARV discount +2.7/15.0
• Livability +2.6/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this well-maintained two bedroom, two bath home located in a desirable community in Hemet. Featuring a bright and open layout, the home offers a comfortable living space that flows seamlessly into the kitchen, complete with ample cabinetry and functionality for everyday living. The primary bedroom includes a private en-suite bathroom, while the second bedroom is well-sized and versatile—perfect for guests or a home office. Natural light throughout enhances the warm and inviting atmosphere. Situated in a well-kept community with convenient access to shopping, dining, and major roadways, this home offers a great combination of comfort, location, and opportunity.

Key facts

• Built 1986
• Listed 62 days

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 $720 ($9k/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: $132k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.5% 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.
• San Jacinto Unified (suburban): math 13% / reading 36% proficiency, ranked #421 of 517 in CA (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+1.8%/yr); 264 active listings in the ZIP; 40 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).
• At $1,946/mo this rent would consume 47% of the median local household income ($49k/yr) (locally 2144% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 + 1.8% rent growth), your $39k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 23y 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 $31k; list at $140k implies a 352% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $131,599 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% 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: 1.39% ✓
• Cap rate: 12.46%
• Cash-on-cash: 22.03%
• DSCR: 1.98
• GRM: 6.0

CMA / ARV

• ARV (median comp): $126,506
• List price: $139,999
• Delta: 10.67%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1097 N N State St #194	0.06mi	3/2.0 (+1)	1,080 (-6%)	1mo	$125,000	$116	81
1097 N State St #79	0.07mi	2/1.0	1,056 (-8%)	12mo	$102,000	$97	69
1097 N State St #213	0.07mi	3/2.0 (+1)	1,248 (+8%)	13mo	$90,000	$72	67
1097 N State St #548	0.09mi	3/2.0 (+1)	1,248 (+8%)	12mo	$140,000	$112	67
1455 S State St #238	0.46mi	3/2.0 (+1)	1,248 (+8%)	4mo	$145,000	$116	56
1455 S State St #271	0.46mi	3/2.0 (+1)	1,224 (+6%)	9mo	$140,000	$114	55
622 Arlington Way	0.64mi	2/2.0	1,000 (-13%)	0mo	$45,000	$45	48
1455 S State St #49	0.46mi	2/2.0	1,000 (-13%)	12mo	$74,900	$75	46
1455 S State St #275	0.46mi	2/2.0	1,000 (-13%)	18mo	$40,000	$40	41
1300 W Menlo Ave #114	0.71mi	2/2.0	1,248 (+8%)	15mo	$114,000	$91	41
1300 W Menlo Ave #114	0.71mi	2/2.0	1,248 (+8%)	15mo	$114,000	$91	40
631 Taschner Dr	0.65mi	2/2.0	1,320 (+15%)	17mo	$252,000	$191	32

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 · 1.76% rent growth · sell at horizon

5-year hold

• IRR: 13.4%
• Equity multiple: 1.53×
• Total profit: $20,681
• Equity at exit: $20,874

10-year hold

• IRR: 21.3%
• Equity multiple: 2.71×
• Total profit: $67,166
• 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 92543

• Home prices YoY: -26.7%
• Rents YoY: 1.8%
• Active inventory: 264
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,946 high
• Mortgage (P&I): −$734
• Tax from tax record: −$26 /mo · $306/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $720

Break-even live

Break-even rent $1,035

Max offer price $139,999

Occupancy floor 58%

Sensitivity live

Price	-10% $799	-5% $759	+0% $720	+5% $680	+10% $473
Rent	-10% $566	-5% $643	+0% $720	+5% $796	+10% $873
Rate	-1.0pp $790	-0.5pp $755	base $720	+0.5pp $683	+1.0pp $646

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 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1775 S Santa Fe Ave San Jacinto, CA	3.0	2.0	1300	$2,850	$2.19	0d	1	0.78mi
663 Mariposa Dr Hemet, CA	2.0	2.0	1440	$1,500	$1.04	25d	1	0.83mi
526 Greystone Ln Hemet, CA	2.0	1.0	700	$1,600	$2.29	18d	1	0.84mi
526 Greystone Ln Apt 3 Hemet, CA	2.0	1.0	700	$1,650	$2.36	44d	1	0.84mi
526 Greystone Ln Hemet, CA	2.0	1.0	700	$1,600	$2.29	44d	1	0.84mi
1555 S Santa Fe Ave San Jacinto, CA	3.0	2.0	1161	$2,300	$1.98	25d	1	0.86mi
1700 Walden Ln Hemet, CA	3.0	2.0	1430	$2,670	$1.87	25d	1	0.88mi
N Santa Fe St GLMN HOT SPGS, CA	2.0–3.0	2.0	1053	$2,350	$2.23	0d	2	0.88mi
646 Greystone Ln Apt 2 Hemet, CA	3.0	1.0	750	$1,500	$2.00	45d	1	0.89mi
1569 Willowcreek Loop San Jacinto, CA	2.0	1.5	921	$2,100	$2.28	25d	1	0.89mi
446 N Elk St Unit D Hemet, CA	2.0	1.0	980	$1,675	$1.71	25d	1	0.96mi
1270 Rosalia Ave Unit 1 Hemet, CA	2.0	1.0	900	$1,800	$2.00	44d	1	1.01mi
2014 Iris Way Hemet, CA	3.0	2.0	1192	$2,850	$2.39	44d	1	1.02mi
1931 Nuevo St Hemet, CA	2.0	1.0	820	$1,600	$1.95	44d	1	1.06mi
1933 Nuevo St Hemet, CA	2.0	1.0	827	$1,700	$2.06	25d	1	1.07mi
627 Solano Dr Hemet, CA	2.0	2.0	882	$1,800	$2.04	19d	1	1.09mi
910 E Campus Way Unit 910 Hemet, CA	2.0	1.0	940	$1,550	$1.65	44d	1	1.13mi
2208 El Grande St Hemet, CA	2.0	2.0	1327	$2,100	$1.58	18d	1	1.14mi
2208 El Grande St Hemet, CA	2.0	2.0	1327	$2,000	$1.51	0d	1	1.14mi
1862 Pueblo Dr Hemet, CA	2.0	2.0	977	$1,900	$1.94	44d	1	1.18mi
1862 Pueblo Dr Unit 1862 Hemet, CA	2.0	2.0	977	$1,750	$1.79	25d	1	1.18mi
1964 W Oakland Ave Hemet, CA	2.0	2.0	977	$1,695	$1.73	18d	1	1.18mi
1118 E Campus Way Hemet, CA	2.0	2.0	900	$2,200	$2.44	25d	1	1.19mi
250 N Elk St Hemet, CA	2.0	1.0	900	$1,625	$1.81	14d	1	1.19mi
1887 Calle Amargosa Hemet, CA	2.0	1.0	827	$1,545	$1.87	25d	1	1.21mi
682 San Marino St Hemet, CA	2.0	1.0	827	$1,600	$1.93	44d	1	1.21mi
165 N Hamilton Ave Unit 3 Hemet, CA	1.0	1.0	768	$1,450	$1.89	6d	1	1.25mi
165 N Hamilton Ave Unit 4 Hemet, CA	1.0	1.0	768	$1,525	$1.99	22d	1	1.25mi
528 San Marino St Hemet, CA	2.0	1.0	827	$1,900	$2.30	44d	1	1.27mi
529 E Latham Ave Hemet, CA	3.0	1.0	1226	$1,950	$1.59	20d	1	1.28mi
2054 Avenida Olivos Hemet, CA	2.0	1.0	820	$1,500	$1.83	44d	1	1.29mi
2120 San Bernardo Ave Hemet, CA	2.0	1.0	827	$2,100	$2.54	44d	1	1.30mi
429 W 6th St San Jacinto, CA	2.0	1.0	864	$1,600	$1.85	3d	1	1.30mi
1315 W Latham Ave Hemet, CA	3.0	2.5	1340	$2,550	$1.90	44d	1	1.30mi
1106 Don Carlos Ct San Jacinto, CA	3.0	2.0	1389	$2,999	$2.16	44d	1	1.31mi
2488 San Padre Ct Hemet, CA	2.0	1.0	827	$1,599	$1.93	14d	1	1.34mi
2488 San Padre Ct Hemet, CA	2.0	1.0	827	$1,599	$1.93	0d	1	1.34mi
930 Calhoun Pl Hemet, CA	3.0	1.0	960	$2,890	$3.01	25d	1	1.34mi
2422 San Padre Ct Hemet, CA	2.0	1.0	827	$1,800	$2.18	25d	1	1.35mi
2269 San Bernardo Ave Hemet, CA	2.0	1.0	827	$1,650	$2.00	44d	1	1.39mi

Listing history 21 events

1. 2026-06-18
   days on market $139,999 Active 62 DOM
2. 2026-06-17
   days on market $139,999 Active 61 DOM
3. 2026-06-16
   days on market $139,999 Active 60 DOM
4. 2026-06-15
   days on market $139,999 Active 59 DOM
5. 2026-06-13
   days on market $139,999 Active 57 DOM
6. 2026-06-13
   days on market $139,999 Active 56 DOM
7. 2026-06-09
   days on market $139,999 Active 53 DOM
8. 2026-06-08
   days on market $139,999 Active 52 DOM
9. 2026-06-07
   days on market $139,999 Active 51 DOM
10. 2026-06-04
    days on market $139,999 Active 48 DOM
11. 2026-06-03
    days on market $139,999 Active 47 DOM
12. 2026-06-02
    days on market $139,999 Active 46 DOM
13. 2026-06-01
    days on market $139,999 Active 45 DOM
14. 2026-05-31
    days on market $139,999 Active 44 DOM
15. 2026-04-17
    listed $139,999 Active 685-char remark

    Show marketing remark (685 chars)

    Welcome to this well-maintained two bedroom, two bath home located in a desirable community in Hemet. Featuring a bright and open layout, the home offers a comfortable living space that flows seamlessly into the kitchen, complete with ample cabinetry and functionality for everyday living. The primary bedroom includes a private en-suite bathroom, while the second bedroom is well-sized and versatile—perfect for guests or a home office. Natural light throughout enhances the warm and inviting atmosphere. Situated in a well-kept community with convenient access to shopping, dining, and major roadways, this home offers a great combination of comfort, location, and opportunity.

16. 2006-02-06
    historical 95-char remark

    Show marketing remark (95 chars)

    This 3 bedroom, 2 bath mobile is great. New paint, light fixtures and sod. Spacious and bright.

17. 2005-12-02
    listed $45,000 95-char remark

    Show marketing remark (95 chars)

    This 3 bedroom, 2 bath mobile is great. New paint, light fixtures and sod. Spacious and bright.

18. 2004-08-10
    soldstatus $31,000
19. 2004-07-06
    listed $32,000
20. 2004-06-01
    historical
21. 2003-10-29
    listed $35,000

ⓘ 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: $306 · $26/mo
• Projected year-2 tax: $1,064 · $89/mo
• Expected delta: +$758/yr (+$63/mo · 247.3%)

ⓘ 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 3/10 Moderate
• 🌡 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: $23,356
• − Mortgage interest: −$7,842
• − Property taxes: −$306
• − Insurance: −$700
• − Repairs & maintenance: −$1,868
• − Management: −$1,868
• − Depreciation: −$4,073
• Taxable income: $6,698
• Est. tax owed @ 24.0%: −$1,607
• After-tax cash flow: $7,027/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: San Jacinto Unified
• NCES district ID: 0634440
• Math proficiency: 13% ▼ -9.00%
• Reading proficiency: 36% ▬ 0.00%
• Median HH income: $43,560
• Composite: 20.94/100
• National rank: #8478
• State rank: #421 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): 39,937
• Household income: $49,396
• Rent vs Own: 42.8% rent · 57.2% own
• Severe rent burden: 2144.0

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 0.61)
• Race & ethnicity: Hispanic / Latino 54% White 30% Two or more races 18% Black 10% Native American 2% Asian 2%
• Hispanic origin (detail): Mexican 48% Puerto Rican 1%
• Common ancestry: Slovak 1% Romanian 1% Portuguese 1%
• Foreign-born: 21% · Canada
• Languages at home: 59% English-only · Spanish 38% Arabic 1% Tagalog/Filipino 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: ▼ -147.46%
• Current HPI: 405.1277
• Rent YoY: ▲ 1.76%
• 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

+300.0% since first listed

7 events — show timeline

• 2026-04-17 Listed $139,999 CRMLS
• 2006-02-06 Listing Removed — CRMLS
• 2005-12-02 Listed $45,000 CRMLS
• 2004-08-10 Sold (MLS) $31,000 CRMLS
• 2004-07-06 Listed $32,000 CRMLS
• 2004-06-01 Listing Removed — CRMLS
• 2003-10-29 Listed $35,000 CRMLS

Property tax history

-1.6%/yr

Latest (2025): $306 · +6.4% YoY. Source: county tax records.