601 Kirby St N #451 · Hemet, CA 92545

$65,000

2 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 112 Days on market

Built 1982 45 ac lot $48/sqft · 35% above area Est $52k · 26% 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 MLS

Welcome to your perfect updated 1982 home. This beautiful updated and well maintained home offers unbeatable Golf Course views and comfortable interior that's move-in ready! Bright and Airy open plan, updated kitchen with modern appliances. Spacious living and dinning areas with large windows overlooking the greens. Enclosed patio, Extra room for extra storage. This is a Must see! Priced to sell don't miss your chance to own this beauty!! Nestled in Colonial Country Club Park with all the amenities. . Golf, Pool, Fitness room, Library, Ballroom, Dog Park, Bridge Club, Billiards room, Shuffleboard room. And much more.

Key facts

• Extra storage
• Updated kitchen
• Pool

Tags

• UPDATED KITCHEN
• ENCLOSED PATIO
• EXTRA STORAGE
• POOL
• FITNESS ROOM
• LIBRARY

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $65k.

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 $65k).
• Recommended offer: $59k (9.0% below list) — sets the bar for market timing.
• Cap rate 29.4% 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+, 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); 291 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $449 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 $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 112 days — a 9% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 22y 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 $59,150 (9.0% below list)

Questions for the listing agent

1. It's been on market 112 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: 3.19% ✓
• Cap rate: 29.39%
• Cash-on-cash: 82.47%
• DSCR: 4.67
• GRM: 2.6

CMA / ARV

• ARV (median comp): $51,648
• List price: $65,000
• Delta: 25.85%
• 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
601 N Kirby #177	0.22mi	2/2.0	1,344 (0%)	1mo	$10,000	$7	89
601 Kirby St N #451	0.00mi	2/2.0	1,440 (+7%)	0mo	$60,000	$42	88
601 N Kirby St #501	0.02mi	2/2.0	1,440 (+7%)	0mo	$49,000	$34	87
601 Kirby St N #235	0.02mi	2/2.0	1,440 (+7%)	3mo	$84,000	$58	85
601 N Kirby St #267	0.02mi	2/2.0	1,248 (-7%)	3mo	$82,250	$66	85
601 N Kirby St #67	0.02mi	2/2.0	1,440 (+7%)	6mo	$73,000	$51	83
601 N Kirby St #220	0.02mi	2/2.0	1,440 (+7%)	6mo	$38,500	$27	82
601 N Kirby St #159	0.03mi	3/2.0 (+1)	1,440 (+7%)	5mo	$69,000	$48	78
1895 W Devonshire #20	0.74mi	2/2.0	1,344 (0%)	1mo	$44,000	$33	64
1895 W Devonshire Ave #76	0.74mi	2/2.0	1,344 (0%)	4mo	$55,000	$41	62
1895 W Devonshire Ave #74	0.74mi	3/2.0 (+1)	1,344 (0%)	2mo	$80,000	$60	58
1895 W Devonshire Ave #148	0.74mi	3/2.0 (+1)	1,344 (0%)	7mo	$87,500	$65	55

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: 83.6%
• Equity multiple: 4.88×
• Total profit: $70,680
• Equity at exit: $9,692

10-year hold

• IRR: 87.0%
• Equity multiple: 10.37×
• Total profit: $170,575
• Equity at exit: $5,620

Cash invested: $18,200 (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: 291
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $2,072 high
• Mortgage (P&I): −$341
• Tax from tax record: −$18 /mo · $220/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$435
• Net cashflow: $1,251

Break-even live

Break-even rent $489

Max offer price $65,000

Occupancy floor 35%

Sensitivity live

Price	-10% $1,288	-5% $1,269	+0% $1,251	+5% $1,232	+10% $1,214
Rent	-10% $1,087	-5% $1,169	+0% $1,251	+5% $1,333	+10% $1,415
Rate	-1.0pp $1,284	-0.5pp $1,267	base $1,251	+0.5pp $1,234	+1.0pp $1,217

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2770 W Devonshire Ave Hemet, CA	1.0–2.0	1.0–2.0	707	$1,945	$2.75	0d	10	0.25mi
743 Via Linda Dr Hemet, CA	2.0	2.0	1206	$1,995	$1.65	6d	1	0.28mi
811 Alondra Dr Hemet, CA	2.0	2.0	1166	$1,875	$1.61	6d	1	0.31mi
853 Ensenada Dr Hemet, CA	2.0	2.0	1350	$1,875	$1.39	25d	1	0.36mi
853 Ensenada Dr Hemet, CA	2.0	2.0	1350	$1,875	$1.39	13d	1	0.36mi
3471 Dublin Ct Hemet, CA	3.0	2.0	1276	$2,895	$2.27	5d	1	0.37mi
1964 W Oakland Ave Hemet, CA	2.0	2.0	977	$1,695	$1.73	19d	1	0.59mi
601 Corona St Hemet, CA	2.0	2.0	882	$1,700	$1.93	0d	1	0.60mi
2014 Iris Way Hemet, CA	3.0	2.0	1192	$2,850	$2.39	45d	1	0.64mi
3800 W Devonshire Ave Hemet, CA	3.0	1.0–2.0	816	$2,172	$2.66	0d	7	0.64mi
1862 Pueblo Dr Unit 1862 Hemet, CA	2.0	2.0	977	$1,750	$1.79	25d	1	0.64mi
1862 Pueblo Dr Hemet, CA	2.0	2.0	977	$1,900	$1.94	45d	1	0.64mi
627 Solano Dr Hemet, CA	2.0	2.0	882	$1,800	$2.04	19d	1	0.64mi
2208 El Grande St Hemet, CA	2.0	2.0	1327	$2,100	$1.58	19d	1	0.67mi
2208 El Grande St Hemet, CA	2.0	2.0	1327	$2,000	$1.51	0d	1	0.67mi
1700 Walden Ln Hemet, CA	3.0	2.0	1430	$2,670	$1.87	25d	1	0.77mi
3030 W Acacia Ave Hemet, CA	1.0–2.0	1.0–2.0	807	$1,780	$2.20	0d	8	0.79mi
543 La Cresta Dr Hemet, CA	2.0	2.0	1544	$1,595	$1.03	45d	1	0.80mi
1245 Millie Dr Hemet, CA	3.0	2.0	1392	$2,850	$2.05	9d	1	0.83mi
2469 W Acacia Ave Hemet, CA	2.0	2.0	910	$1,750	$1.92	25d	1	0.91mi
2403 W Acacia Ave Hemet, CA	2.0	2.0	910	$1,995	$2.19	9d	1	0.92mi
663 Mariposa Dr Hemet, CA	2.0	2.0	1440	$1,500	$1.04	25d	1	0.96mi
2098 W Acacia Ave Hemet, CA	1.0–3.0	1.0–2.0	895	$2,035	$2.27	0d	1	0.96mi
446 N Elk St Unit D Hemet, CA	2.0	1.0	980	$1,675	$1.71	25d	1	1.01mi
1270 Rosalia Ave Unit 1 Hemet, CA	2.0	1.0	900	$1,800	$2.00	45d	1	1.03mi
250 N Elk St Hemet, CA	2.0	1.0	900	$1,625	$1.81	15d	1	1.08mi
1315 W Latham Ave Hemet, CA	3.0	2.5	1340	$2,550	$1.90	45d	1	1.11mi
828 Coramdeo Ct Hemet, CA	3.0	2.0	1543	$3,000	$1.94	45d	1	1.12mi
4400 W Florida Ave Unit 86 Hemet, CA	3.0	2.0	1310	$1,800	$1.37	45d	1	1.15mi
4400 W Florida Ave Spc 26 Hemet, CA	3.0	2.0	1193	$1,699	$1.42	16d	1	1.18mi
1967 Connor Ln San Jacinto, CA	3.0	2.5	1708	$2,950	$1.73	9d	1	1.28mi
1967 Connor Ln San Jacinto, CA	3.0	2.5	1708	$2,950	$1.73	0d	1	1.28mi
1850 Amberwood Dr Hemet, CA	2.0	2.0	1170	$1,561	$1.33	45d	1	1.29mi
471 Whitney Dr Hemet, CA	2.0	2.0	1085	$1,800	$1.66	6d	1	1.30mi
683 Jonquil St Hemet, CA	3.0	2.0	1150	$2,448	$2.13	25d	1	1.33mi
1844 Paradise Way San Jacinto, CA	3.0	2.0	1540	$3,000	$1.95	45d	1	1.34mi
1461 W Mayberry Ave Hemet, CA	2.0	2.0	1044	$1,750	$1.68	45d	1	1.41mi

Listing history 39 events

1. 2026-06-15
   days on market $65,000 Active 112 DOM
2. 2026-06-13
   days on market $65,000 Active 110 DOM
3. 2026-06-09
   days on market $65,000 Active 106 DOM
4. 2026-06-08
   days on market $65,000 Active 105 DOM
5. 2026-06-07
   days on market $65,000 Active 104 DOM
6. 2026-06-04
   days on market $65,000 Active 101 DOM
7. 2026-06-03
   days on market $65,000 Active 100 DOM
8. 2026-06-02
   days on market $65,000 Active 99 DOM
9. 2026-06-01
   days on market $65,000 Active 98 DOM
10. 2026-05-31
    days on market $65,000 Active 97 DOM
11. 2026-02-23
    listed $65,000 Active 624-char remark

    Show marketing remark (624 chars)

    Welcome to your perfect updated 1982 home. This beautiful updated and well maintained home offers unbeatable Golf Course views and comfortable interior that's move-in ready! Bright and Airy open plan, updated kitchen with modern appliances. Spacious living and dinning areas with large windows overlooking the greens. Enclosed patio, Extra room for extra storage. This is a Must see! Priced to sell don't miss your chance to own this beauty!! Nestled in Colonial Country Club Park with all the amenities. . Golf, Pool, Fitness room, Library, Ballroom, Dog Park, Bridge Club, Billiards room, Shuffleboard room. And much more.

12. 2025-04-10
    historical
13. 2025-04-05
    price $85,000
14. 2025-04-03
    price $91,500
15. 2025-03-06
    listed $98,600 Active
16. 2025-03-06
    historical
17. 2024-02-27
    soldstatus $77,500 Closed Sale
18. 2024-02-12
    historical Active Under Contract
19. 2024-01-25
    listed $79,900 Active
20. 2019-03-19
    historical
21. 2019-01-20
    listed $27,000 Active
22. 2019-01-05
    historical Hold Do Not Show
23. 2018-12-06
    listed $49,000 Active
24. 2018-06-30
    historical
25. 2018-01-22
    listed $55,000 Active
26. 2015-08-31
    soldstatus $23,500 Closed Sale
27. 2015-08-31
    soldstatus $23,500 Closed Sale
28. 2015-07-24
    status Pending Sale
29. 2015-07-24
    status Pending Sale
30. 2015-07-05
    price $23,500
31. 2015-07-05
    price $23,500
32. 2015-05-27
    price $26,900
33. 2015-05-27
    price $26,900
34. 2015-05-07
    listed $27,500 Active
35. 2015-05-07
    listed $27,500 Active
36. 2015-05-02
    historical
37. 2015-03-02
    listed $32,500 Active
38. 2004-09-26
    historical
39. 2004-07-26
    listed $58,000

ⓘ 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: $220 · $18/mo
• Projected year-2 tax: $494 · $41/mo
• Expected delta: +$274/yr (+$23/mo · 124.3%)

ⓘ 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 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: $24,868
• − Mortgage interest: −$3,641
• − Property taxes: −$220
• − Insurance: −$325
• − Repairs & maintenance: −$1,989
• − Management: −$1,989
• − Depreciation: −$1,891
• Taxable income: $14,812
• Est. tax owed @ 24.0%: −$3,555
• After-tax cash flow: $11,455/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

+12.1% since first listed

29 events — show timeline

• 2026-02-23 Listed $65,000 CRMLS
• 2025-04-10 Listing Removed — CRMLS
• 2025-04-05 Price Changed $85,000 CRMLS
• 2025-04-03 Price Changed $91,500 CRMLS
• 2025-03-06 Listed $98,600 CRMLS
• 2025-03-06 Coming Soon — CRMLS
• 2024-02-27 Sold (MLS) $77,500 CRMLS
• 2024-02-12 Contingent — CRMLS
• 2024-01-25 Listed $79,900 CRMLS
• 2019-03-19 Listing Removed — CRMLS
• 2019-01-20 Listed $27,000 CRMLS
• 2019-01-05 Delisted — CRMLS
• 2018-12-06 Listed $49,000 CRMLS
• 2018-06-30 Listing Removed — CRMLS
• 2018-01-22 Listed $55,000 CRMLS
• 2015-08-31 Sold (MLS) $23,500 CRMLS
• 2015-08-31 Sold (MLS) $23,500 CRMLS
• 2015-07-24 Pending — CRMLS
• 2015-07-24 Pending — CRMLS
• 2015-07-05 Price Changed $23,500 CRMLS
• 2015-07-05 Price Changed $23,500 CRMLS
• 2015-05-27 Price Changed $26,900 CRMLS
• 2015-05-27 Price Changed $26,900 CRMLS
• 2015-05-07 Listed $27,500 CRMLS
• 2015-05-07 Listed $27,500 CRMLS
• 2015-05-02 Listing Removed — CRMLS
• 2015-03-02 Listed $32,500 CRMLS
• 2004-09-26 Listing Removed — CRMLS
• 2004-07-26 Listed $58,000 CRMLS

Property tax history

-3.4%/yr

Latest (2025): $220 · +11.8% YoY. Source: county tax records.