5001 W Florida #759 · Hemet, CA 92545

$73,900

3 bd · 2.0 ba · 1,440 sqft · Manufactured public records · 79 Days on market

Built 1987 $51/sqft · at area comps Est $70k · at est.

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +5.3/15.0
• 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

Turnkey 3-Bedroom Home in Resort-Style Gated Community – The Lakes at Hemet West. Discover resort-style living at its best in this beautifully maintained 3-bedroom, 2-bath manufactured home located in the highly desirable 55+ gated community of The Lakes at Hemet West. Welcome to Space 759, ideally situated near the clubhouse and offering stunning mountain views from the spacious covered front porch. This move-in ready home features a bright and open floor plan with tall ceilings and neutral tones throughout. The kitchen with breakfast bar flows effortlessly into the living and dining areas, perfect for entertaining or relaxing. Each bedroom is generously sized with large closets, and the bathrooms offer a modern design, including a walk-in shower and soaking tub. Upgrades include a new air conditioning compressor and furnace—both installed in spring 2025—ensuring comfort and efficiency year-round. Additional features include a large utility room with extra storage, covered carport, and an oversized shed. Located on a premium corner lot, this home enjoys extra privacy, shade from mature trees, and low-maintenance landscaping with citrus trees, allowing you more time to enjoy the community’s incredible amenities. Residents of The Lakes at West Hemet enjoy: A 9-hole private golf course, Resort-style swimming pool and spa, Clubhouse with billiards, shuffleboard, and social events, Walking trails and pickleball courts, Gated entry and active lifestyle options. Just a short walk or golf cart ride from the clubhouse and community facilities, this is a prime opportunity to enjoy active adult living in one of Hemet, California's top-rated senior communities. Don’t miss your chance to own this beautiful senior manufactured home in Hemet, CA—schedule your private tour today!

Key facts

• Gated community
• Covered front porch
• Walk in shower

Tags

• GATED COMMUNITY
• MOUNTAIN VIEWS
• COVERED FRONT PORCH
• BRIGHT OPEN FLOOR PLAN
• MODERN DESIGN BATHROOMS
• WALK IN SHOWER

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $74k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $74k).
• Recommended offer: $69k (6.0% below list) — sets the bar for market timing.
• Cap rate 29.3% 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; 8 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 44% 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 $511 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 79 days — a 6% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 7y 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 $47k; list at $74k implies a 57% 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 $69,466 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 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: 3.19% ✓
• Cap rate: 29.28%
• Cash-on-cash: 82.09%
• DSCR: 4.65
• GRM: 2.6

CMA / ARV

• ARV (median comp): $70,468
• List price: $73,900
• Delta: 4.87%
• Verdict: FAIR
• 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)	1,440 (0%)	1mo	$67,000	$47	94
5001 FLORIDA #311	0.00mi	2/2.0 (-1)	1,440 (0%)	1mo	$73,990	$51	94
5001 W Florida Ave #305	0.00mi	2/2.0 (-1)	1,440 (0%)	2mo	$91,000	$63	93
5001 W Florida #661	0.00mi	2/2.0 (-1)	1,440 (0%)	3mo	$97,000	$67	92
5001 W Florida Ave #482	0.00mi	2/2.0 (-1)	1,440 (0%)	4mo	$55,000	$38	92
5001 W Florida #524	0.00mi	2/2.0 (-1)	1,488 (+3%)	3mo	$62,000	$42	87
5001 W Florida #618	0.00mi	2/2.0 (-1)	1,344 (-7%)	4mo	$70,000	$52	81
5001 W Florida Ave W #728	0.00mi	2/2.0 (-1)	1,344 (-7%)	4mo	$56,000	$42	81
5001 W Florida Ave #135	0.10mi	2/2.0 (-1)	1,504 (+4%)	5mo	$55,000	$37	78
5001 W Florida Ave #139	0.00mi	2/2.0 (-1)	1,560 (+8%)	5mo	$105,000	$67	77
5001 W Florida Ave #122	0.10mi	2/2.0 (-1)	1,296 (-10%)	0mo	$52,500	$41	73
5001 W Florida #695	0.10mi	2/2.0 (-1)	1,248 (-13%)	5mo	$45,000	$36	64

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: 83.2%
• Equity multiple: 4.86×
• Total profit: $79,941
• Equity at exit: $11,019

10-year hold

• IRR: 86.6%
• Equity multiple: 10.33×
• Total profit: $193,049
• Equity at exit: $6,390

Cash invested: $20,692 (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: 2.6×

Monthly cashflow live

• Estimated rent: $2,358 high
• Mortgage (P&I): −$388
• Tax from tax record: −$29 /mo · $352/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$495
• Net cashflow: $1,415

Break-even live

Break-even rent $567

Max offer price $73,900

Occupancy floor 35%

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: $18,475
• Closing costs: $2,217
• Reserves months: —
• Total cash needed: —

Rent comps 8 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	$2,160	$2.65	1d	8	1.07mi
3080 Hampton Ave Hemet, CA	4.0	2.0	1552	$2,695	$1.74	7d	1	1.22mi
3030 W Acacia Ave Hemet, CA	1.0–3.0	1.0–2.0	892	$2,195	$2.46	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	3d	1	1.39mi
1610 Stoneside Dr Hemet, CA	4.0	2.0	1760	$3,100	$1.76	43d	1	1.41mi

Listing history 36 events

1. 2026-06-18
   days on market $73,900 Active 79 DOM
2. 2026-06-17
   days on market $73,900 Active 78 DOM
3. 2026-06-16
   days on market $73,900 Active 77 DOM
4. 2026-06-15
   days on market $73,900 Active 76 DOM
5. 2026-06-13
   days on market $73,900 Active 74 DOM
6. 2026-06-09
   days on market $73,900 Active 70 DOM
7. 2026-06-08
   days on market $73,900 Active 69 DOM
8. 2026-06-07
   days on market $73,900 Active 68 DOM
9. 2026-06-04
   days on market $73,900 Active 65 DOM
10. 2026-06-03
    days on market $73,900 Active 64 DOM
11. 2026-06-02
    days on market $73,900 Active 63 DOM
12. 2026-06-01
    days on market $73,900 Active 62 DOM
13. 2026-05-31
    days on market $73,900 Active 61 DOM
14. 2026-03-31
    listed $73,900 Active 1831-char remark

    Show marketing remark (1831 chars)

    Turnkey 3-Bedroom Home in Resort-Style Gated Community – The Lakes at Hemet West. Discover resort-style living at its best in this beautifully maintained 3-bedroom, 2-bath manufactured home located in the highly desirable 55+ gated community of The Lakes at Hemet West. Welcome to Space 759, ideally situated near the clubhouse and offering stunning mountain views from the spacious covered front porch. This move-in ready home features a bright and open floor plan with tall ceilings and neutral tones throughout. The kitchen with breakfast bar flows effortlessly into the living and dining areas, perfect for entertaining or relaxing. Each bedroom is generously sized with large closets, and the bathrooms offer a modern design, including a walk-in shower and soaking tub. Upgrades include a new air conditioning compressor and furnace—both installed in spring 2025—ensuring comfort and efficiency year-round. Additional features include a large utility room with extra storage, covered carport, and an oversized shed. Located on a premium corner lot, this home enjoys extra privacy, shade from mature trees, and low-maintenance landscaping with citrus trees, allowing you more time to enjoy the community’s incredible amenities. Residents of The Lakes at West Hemet enjoy: A 9-hole private golf course, Resort-style swimming pool and spa, Clubhouse with billiards, shuffleboard, and social events, Walking trails and pickleball courts, Gated entry and active lifestyle options. Just a short walk or golf cart ride from the clubhouse and community facilities, this is a prime opportunity to enjoy active adult living in one of Hemet, California's top-rated senior communities. Don’t miss your chance to own this beautiful senior manufactured home in Hemet, CA—schedule your private tour today!

15. 2025-09-15
    historical
16. 2025-09-11
    status Active
17. 2025-08-28
    historical Active Under Contract
18. 2025-08-19
    listed $73,500 Active
19. 2025-08-18
    status Active
20. 2025-08-15
    historical
21. 2025-07-31
    historical Active Under Contract
22. 2025-07-30
    listed $78,500 Active
23. 2025-07-28
    historical
24. 2025-06-04
    price $78,500
25. 2025-05-24
    listed $79,000 Active
26. 2025-05-23
    historical
27. 2025-03-27
    listed $83,000 Active
28. 2023-10-01
    historical
29. 2023-09-12
    price $123,800
30. 2023-08-08
    price $129,000
31. 2023-07-03
    price $138,000
32. 2023-06-08
    listed $147,000 Active
33. 2019-07-25
    soldstatus $47,000 Closed Sale
34. 2019-06-24
    status Pending Sale
35. 2019-06-11
    price $49,000
36. 2019-06-04
    listed $53,000 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: $352 · $29/mo
• Projected year-2 tax: $562 · $47/mo
• Expected delta: +$209/yr (+$17/mo · 59.4%)

ⓘ 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: $28,301
• − Mortgage interest: −$4,140
• − Property taxes: −$352
• − Insurance: −$370
• − Repairs & maintenance: −$2,264
• − Management: −$2,264
• − Depreciation: −$2,150
• Taxable income: $16,761
• Est. tax owed @ 24.0%: −$4,023
• After-tax cash flow: $12,963/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

+39.4% since first listed

23 events — show timeline

• 2026-03-31 Listed $73,900 CRMLS
• 2025-09-15 Listing Removed — CRMLS
• 2025-09-11 Relisted — CRMLS
• 2025-08-28 Contingent — CRMLS
• 2025-08-19 Listed $73,500 CRMLS
• 2025-08-18 Relisted — CRMLS
• 2025-08-15 Listing Removed — CRMLS
• 2025-07-31 Contingent — CRMLS
• 2025-07-30 Listed $78,500 CRMLS
• 2025-07-28 Listing Removed — CRMLS
• 2025-06-04 Price Changed $78,500 CRMLS
• 2025-05-24 Listed $79,000 CRMLS
• 2025-05-23 Listing Removed — CRMLS
• 2025-03-27 Listed $83,000 CRMLS
• 2023-10-01 Listing Removed — CRMLS
• 2023-09-12 Price Changed $123,800 CRMLS
• 2023-08-08 Price Changed $129,000 CRMLS
• 2023-07-03 Price Changed $138,000 CRMLS
• 2023-06-08 Listed $147,000 CRMLS
• 2019-07-25 Sold (MLS) $47,000 CRMLS
• 2019-06-24 Pending — CRMLS
• 2019-06-11 Price Changed $49,000 CRMLS
• 2019-06-04 Listed $53,000 CRMLS

Property tax history

+12.6%/yr

Latest (2025): $352 · +2.4% YoY. Source: county tax records.