260 N Lyon Ave #112 · Hemet, CA 92543

$35,000

1 bd · 1.0 ba · 800 sqft · Manufactured · 24 Days on market

Built 1969 Good condition Est $35k · at est.

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.8/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Condition / age +4.0/5.0
• Rent growth +2.9/5.0
• Livability +2.6/5.0
• Schools +2.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome Home to this Fully Remodeled Manufactured Home located in the Devonshire Downs 55+ senior community. This Pristine, Turn-key Property offers Modern Updates and Excellent Curb Appeal, having Won the "Mobile of the Month" Award Multiple Times for its Exterior Appearance and Cleanliness. Step inside to a Bright, Open Floor Plan that features New Drywall, Polished Wood Flooring, a Contemporary Interior Paint, and New Ceiling Fans and Light Fixtures Throughout. The home is equipped with a Central Heating and Air Conditioning System and New Energy-Efficient Windows. The Updated Kitchen includes New Appliances and Countertops. The Bathroom features a Modern Vanity and Updated Fix

Key facts

• New drywall
• Remodeled
• Modern upgrades

Tags

• REMODELED
• MODERN UPGRADES
• NEW DRYWALL
• NEW FLOORING
• NEW ENERGY-EFFICIENT WINDOWS
• UPDATED KITCHEN

Property features AI

Finance

• Other: Manager approval required; Directions provided for park entry
• Financial info: Land lease ($867 monthly) — park-managed; rent includes pool
• HOA & community: Senior community; Community features include dog park; Park name: Devonshire Downs

Exterior

• Parking: Two carport spaces; Two total parking spaces; Paved road access
• Utilities: Standard electric service; Public sewer; District/public water
• Home design: Single-story mobile home (20' x 40'); Mobile home remains on site; Public records used for living area and year-built source
• Construction: Mobile construction; One-story
• Exterior features: Open patio and deck; In-ground fenced community pool; Yard; Lot is level/flat; One shed on property; Aluminum and steel skirting

Interior

• Kitchen: Remodeled kitchen; Gas cooktop; Free-standing range; Gas oven; Microwave; Gas water heater
• Bedrooms: Single-level entry (entry level 1)
• Bathrooms: Remodeled bathroom with bathtub and shower-in-tub
• Heating & cooling: Central heating (furnace); Central cooling
• Interior features: Double pane, insulated windows; In-ground community spa; Turnkey condition with updates/remodeled
• Laundry & utility: Laundry on-site; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $35k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $35k).
• Recommended offer: $34k (1.5% below list) — sets the bar for market timing.
• Cap rate 41.8% 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 (+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).
• This rent runs 39% of the median local income ($49k/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 $242 of loan paydown is wiped out by about $1k 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 $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($34k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 6→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $34,475 (1.5% below list)

Questions for the listing agent

1. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 4.62% ✓
• Cap rate: 41.82%
• Cash-on-cash: 126.87%
• DSCR: 6.64
• GRM: 1.8

CMA / ARV

• ARV (on-the-fly): $35,200
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
332 N Lyon Ave #25	0.11mi	2/1.0 (+1)	800 (0%)	8mo	$30,000	$38	83
260 N Lyon Ave #120	0.07mi	2/1.0 (+1)	800 (0%)	16mo	$44,000	$55	79
332 N Lyon Ave #17	0.20mi	2/1.0 (+1)	800 (0%)	8mo	$26,000	$33	78
260 N Lyon Ave #12	0.14mi	2/1.0 (+1)	800 (0%)	14mo	$75,000	$94	76
1895 W Devonshire Ave #93	0.31mi	2/1.0 (+1)	800 (0%)	13mo	$35,000	$44	70
332 N Lyon Ave #16	0.46mi	2/1.0 (+1)	800 (0%)	6mo	$31,000	$39	68
430 N Palm Ave #103	0.44mi	2/1.0 (+1)	832 (+4%)	2mo	$47,000	$56	66
332 N Lyon Ave #145	0.11mi	2/2.0 (+1)	880 (+10%)	7mo	$28,600	$33	64
530 W Devonshire Ave #37	0.52mi	2/2.0 (+1)	840 (+5%)	1mo	$55,000	$65	58
260 N Lyon Ave #6	0.13mi	2/1.0 (+1)	900 (+12%)	16mo	$39,000	$43	55
1895 W Devonshire Ave #135	0.42mi	2/1.0 (+1)	696 (-13%)	5mo	$26,000	$37	49
601 N Gilbert St	0.69mi	1/1.0	720 (-10%)	8mo	$145,000	$201	44

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: —
• Equity multiple: 6.95×
• Total profit: $58,348
• Equity at exit: $5,219

10-year hold

• IRR: —
• Equity multiple: 14.05×
• Total profit: $127,899
• Equity at exit: $3,026

Cash invested: $9,800 (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: 1.8×

Monthly cashflow live

• Estimated rent: $1,618 high
• Mortgage (P&I): −$184
• Tax est. 1.5%: −$44 /mo · $525/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $1,036

Break-even live

Break-even rent $306

Max offer price $35,000

Occupancy floor 31%

Sensitivity live

Price	-10% $1,060	-5% $1,048	+0% $1,036	+5% $1,024	+10% $1,012
Rent	-10% $908	-5% $972	+0% $1,036	+5% $1,100	+10% $1,164
Rate	-1.0pp $1,054	-0.5pp $1,045	base $1,036	+0.5pp $1,027	+1.0pp $1,018

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
250 N Elk St Hemet, CA	2.0	1.0	900	$1,625	$1.81	14d	1	0.10mi
201 N Valley View Dr Hemet, CA	1.0	1.0	552	$1,500	$2.72	44d	1	0.16mi
1270 Rosalia Ave Unit 1 Hemet, CA	2.0	1.0	900	$1,800	$2.00	44d	1	0.17mi
165 N Hamilton Ave Unit 4 Hemet, CA	1.0	1.0	768	$1,525	$1.99	22d	1	0.22mi
165 N Hamilton Ave Unit 3 Hemet, CA	1.0	1.0	768	$1,450	$1.89	6d	1	0.22mi
446 N Elk St Unit D Hemet, CA	2.0	1.0	980	$1,675	$1.71	25d	1	0.23mi
1887 Calle Amargosa Hemet, CA	2.0	1.0	827	$1,545	$1.87	25d	1	0.30mi
1862 Pueblo Dr Hemet, CA	2.0	2.0	977	$1,900	$1.94	44d	1	0.37mi
1862 Pueblo Dr Unit 1862 Hemet, CA	2.0	2.0	977	$1,750	$1.79	25d	1	0.37mi
341 Calle Nogales Hemet, CA	2.0	1.0	827	$1,395	$1.69	44d	1	0.43mi
1964 W Oakland Ave Hemet, CA	2.0	2.0	977	$1,695	$1.73	18d	1	0.43mi
2054 Avenida Olivos Hemet, CA	2.0	1.0	820	$1,500	$1.83	44d	1	0.44mi
627 Solano Dr Hemet, CA	2.0	2.0	882	$1,800	$2.04	19d	1	0.45mi
2120 San Bernardo Ave Hemet, CA	2.0	1.0	827	$2,100	$2.54	44d	1	0.49mi
1931 Nuevo St Hemet, CA	2.0	1.0	820	$1,600	$1.95	44d	1	0.55mi
1933 Nuevo St Hemet, CA	2.0	1.0	827	$1,700	$2.06	25d	1	0.55mi
2269 San Bernardo Ave Hemet, CA	2.0	1.0	827	$1,650	$2.00	44d	1	0.58mi
528 San Marino St Hemet, CA	2.0	1.0	827	$1,900	$2.30	44d	1	0.59mi
2098 W Acacia Ave Hemet, CA	1.0–3.0	1.0–2.0	895	$1,595	$1.78	0d	1	0.63mi
682 San Marino St Hemet, CA	2.0	1.0	827	$1,600	$1.93	44d	1	0.67mi
233 N Alessandro St Hemet, CA	1.0	1.0	690	$1,400	$2.03	44d	1	0.68mi
471 Whitney Dr Hemet, CA	2.0	2.0	1085	$1,800	$1.66	6d	1	0.73mi
199 N Inez St Apt D Hemet, CA	1.0	1.0	650	$1,300	$2.00	8d	1	0.76mi
199 N Inez St Apt D Hemet, CA	1.0	1.0	650	$1,300	$2.00	0d	1	0.76mi
1461 W Mayberry Ave Hemet, CA	2.0	2.0	1044	$1,750	$1.68	44d	1	0.76mi
2488 San Padre Ct Hemet, CA	2.0	1.0	827	$1,599	$1.93	14d	1	0.77mi
2488 San Padre Ct Hemet, CA	2.0	1.0	827	$1,599	$1.93	0d	1	0.77mi
471 S Simpson Ave Unit D Hemet, CA	2.0	2.0	900	$1,750	$1.94	44d	1	0.80mi
2403 W Acacia Ave Hemet, CA	2.0	2.0	910	$1,995	$2.19	8d	1	0.80mi
2422 San Padre Ct Hemet, CA	2.0	1.0	827	$1,800	$2.18	25d	1	0.81mi
2469 W Acacia Ave Hemet, CA	2.0	2.0	910	$1,750	$1.92	25d	1	0.82mi
2770 W Devonshire Ave Hemet, CA	1.0–2.0	1.0–2.0	707	$1,625	$2.30	0d	10	0.84mi
3030 W Acacia Ave Hemet, CA	1.0–2.0	1.0–2.0	807	$1,590	$1.97	0d	8	1.08mi
426 N Buena Vista St Apt 1 Hemet, CA	2.0	1.0	680	$1,550	$2.28	8d	1	1.10mi
426 N Buena Vista St Hemet, CA	2.0	1.0	680	$1,550	$2.28	4d	1	1.10mi
560 E Oakland Ave Apt P Hemet, CA	1.0	1.0	550	$1,325	$2.41	17d	1	1.14mi
526 Greystone Ln Hemet, CA	2.0	1.0	700	$1,600	$2.29	18d	1	1.16mi
526 Greystone Ln Apt 3 Hemet, CA	2.0	1.0	700	$1,650	$2.36	44d	1	1.16mi
526 Greystone Ln Hemet, CA	2.0	1.0	700	$1,600	$2.29	44d	1	1.16mi
750 Santa Clara Cir Hemet, CA	2.0	2.0	800	$1,400	$1.75	15d	1	1.24mi

Listing history 14 events

1. 2026-06-18
   days on market $35,000 Active 24 DOM
2. 2026-06-17
   days on market $35,000 Active 23 DOM
3. 2026-06-16
   days on market $35,000 Active 22 DOM
4. 2026-06-15
   days on market $35,000 Active 21 DOM
5. 2026-06-13
   days on market $35,000 Active 19 DOM
6. 2026-06-09
   days on market $35,000 Active 15 DOM
7. 2026-06-08
   days on market $35,000 Active 14 DOM
8. 2026-06-07
   days on market $35,000 Active 13 DOM
9. 2026-06-04
   days on market $35,000 Active 10 DOM
10. 2026-06-03
    pricedays on market $35,000 Active 9 DOM
11. 2026-06-02
    days on market $38,000 Active 8 DOM
12. 2026-06-01
    days on market $38,000 Active 7 DOM
13. 2026-05-31
    days on market $38,000 Active 6 DOM
14. 2026-05-25
    listed $38,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 6 d/yr ≥104°F today · 16 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: $19,412
• − Mortgage interest: −$1,961
• − Property taxes: −$525
• − Insurance: −$175
• − Repairs & maintenance: −$1,553
• − Management: −$1,553
• − Depreciation: −$1,018
• Taxable income: $12,627
• Est. tax owed @ 24.0%: −$3,031
• After-tax cash flow: $9,402/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.

Condition & rehab AI · 30 photos

Good 80/100 Cosmetic rehab

This fully remodeled manufactured home offers a modern and updated interior with new appliances, flooring, and paint. The exterior has won multiple 'Mobile of the Month' awards for its appearance and cleanliness, making it a turn-key property with excellent curb appeal.

Value-add opportunities

• Both Painting the exterior — Enhances curb appeal and can increase both resale and rental value.
• Both Landscaping improvements — Enhances curb appeal and can increase both resale and rental value.
• Both New flooring in high-traffic areas — Improves aesthetics and can increase both resale and rental value.
• Both New lighting fixtures — Enhances curb appeal and can increase both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Landscaping improvements — Enhances curb appeal and can increase both resale and rental value. ↑
• Both New flooring in high-traffic areas — Improves aesthetics and can increase both resale and rental value. ↑
• Both New lighting fixtures — Enhances curb appeal and can increase both resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 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

1 event — show timeline

• 2026-05-25 Listed $38,000 CRMLS