1536 S State St #147 · Hemet, CA 92543

$175,990

3 bd · 2.0 ba · 1,456 sqft · Manufactured · 21 Days on market

Built 2008 Good condition Est $170k · at est. ↓ 2% since listing

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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 +26.7/30.0
• DSCR +9.1/10.0
• 1% rule +7.2/10.0
• ARV discount +6.0/15.0
• 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 MLS

Turn key, move-in ready, beautiful 3 bedroom 2 bath home, with ceiling fans throughout big kitchen island separate dining room , New paint in home, New luxury laminate flooring, all kitchen, bathroom counter countertops, and showers and soaking bath have been re-done , home is on a big lot with carport parking and driveway parking with a bonus shed, this all ages, family park is gated and has community pool and spa park and barbecues for all the community to use!! Book your appointment today to see this home!!!

Key facts

• Parking
• Community pool
• Built 2008

Property features AI

Finance

• Other: Lot features: 0-1 unit/acre
• HOA & community: Land lease of $1,049 per month (current); Manager approval required for residency; Pet policy: contact manager

Exterior

• Parking: 1 carport space; 1 total parking space; Located in Saddleback Mobile Home Estates
• Utilities: Public sewer; District/public water
• Home design: Mobile home (26' x 56') remains on site; Double-wide body type; Single-story; Entry on main level
• Construction: Model 5628-94-3 (mobile home); Year built per public records
• Exterior features: Front porch; Patio; Community pool; One shed on the property; Street lighting and park in the community; Has a view

Interior

• Kitchen: Microwave; Gas range and gas oven; Dishwasher
• Bedrooms: All bedrooms located on the ground level
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central furnace heating; Central cooling
• Interior features: One-level home; All bedrooms on ground level; Laundry room inside (individual room); Kitchen island; Living room; Entry on main level
• Laundry & utility: In-unit laundry (individual room)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $176k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $474 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $176k).
• Recommended offer: $173k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.5% 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.
• 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; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $2,140/mo this rent would consume 52% 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($173k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 6→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $173,350 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.22% ✓
• Cap rate: 9.53%
• Cash-on-cash: 11.55%
• DSCR: 1.51
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $170,352
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1536 S state St #147	0.00mi	3/2.0	1,500 (+3%)	11mo	$175,000	$117	86
1536 S State St #28	0.00mi	3/2.0	1,344 (-8%)	12mo	$198,900	$148	77
1536 S State St #180	0.08mi	3/2.0	1,542 (+6%)	12mo	$200,000	$130	77
601 Bermuda	0.49mi	3/2.0	1,440 (-1%)	0mo	$300,000	$208	75
1536 S State St #185	0.00mi	2/2.0 (-1)	1,344 (-8%)	10mo	$140,000	$104	74
1536 S State St #219	0.03mi	2/2.0 (-1)	1,248 (-14%)	0mo	$135,000	$108	69
725 W Thornton Ave #109	0.57mi	2/2.0 (-1)	1,440 (-1%)	2mo	$23,900	$17	65
1455 S State St #200	0.43mi	2/2.0 (-1)	1,440 (-1%)	13mo	$72,500	$50	62
725 W Thornton Ave #35	0.56mi	2/2.0 (-1)	1,440 (-1%)	6mo	$77,500	$54	62
521 Bermuda Dr	0.45mi	2/2.0 (-1)	1,672 (+15%)	3mo	$285,000	$170	47
1456 Saint Croix Dr	0.49mi	3/2.0	1,674 (+15%)	14mo	$299,000	$179	41
725 W Thornton Ave #14	0.61mi	2/2.0 (-1)	1,248 (-14%)	11mo	$68,000	$54	34

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: -0.5%
• Equity multiple: 0.98×
• Total profit: $-915
• Equity at exit: $26,241

10-year hold

• IRR: 7.8%
• Equity multiple: 1.56×
• Total profit: $27,677
• Equity at exit: $15,216

Cash invested: $49,277 (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: 6.9×

Monthly cashflow live

• Estimated rent: $2,140 high
• Mortgage (P&I): −$923
• Tax est. 1.5%: −$220 /mo · $2,640/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$449
• Net cashflow: $474

Break-even live

Break-even rent $1,540

Max offer price $175,990

Occupancy floor 73%

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: $43,998
• Closing costs: $5,280
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
409 E Thornton Ave Hemet, CA	2.0	1.0	970	$1,912	$1.97	2d	2	0.19mi
640 Vista del Monte Hemet, CA	3.0	2.0	1480	$2,650	$1.79	43d	1	0.53mi
390 Magnolia Cir Hemet, CA	2.0	2.0	1038	$2,400	$2.31	4d	1	0.54mi
678 Monterey Pl Hemet, CA	2.0	2.0	1047	$1,995	$1.91	43d	1	0.68mi
795 Cameo Ave Hemet, CA	4.0	2.0	1600	$2,900	$1.81	15d	1	0.71mi
1025 S Gilbert St Hemet, CA	1.0–2.0	1.0–2.0	890	$2,320	$2.61	2d	8	0.81mi
1005 S Gilbert St Hemet, CA	2.0	1.5	975	$1,825	$1.87	24d	2	0.85mi
860 Douglas Ct Hemet, CA	2.0	2.0	1114	$1,850	$1.66	18d	1	0.88mi
700 Johnston Ave Unit 708 Hemet, CA	2.0	1.0	1000	$1,600	$1.60	7d	1	0.89mi
853 Douglas Ct Hemet, CA	2.0	2.0	1148	$1,850	$1.61	4d	1	0.89mi
716 Robert Dr Hemet, CA	3.0	2.0	1450	$2,300	$1.59	5d	1	1.06mi
735 S Gilbert St Hemet, CA	3.0	2.0	1202	$2,400	$2.00	43d	1	1.11mi
733 S San Jacinto St Unit B Hemet, CA	2.0	1.0	1000	$1,500	$1.50	24d	1	1.15mi
876 W Whittier Ave Unit 878 Hemet, CA	2.0	2.0	1127	$2,150	$1.91	24d	1	1.26mi
26450 San Jacinto St Hemet, CA	3.0	2.0	1250	$2,295	$1.84	3d	1	1.28mi
1287 Olive Tree Ln Unit D Hemet, CA	2.0	1.0	995	$1,599	$1.61	43d	1	1.30mi
1287 Olive Tree Ln Unit C Hemet, CA	2.0	1.0	995	$1,495	$1.50	24d	1	1.30mi
26416 S San Jacinto St Unit 26416 Hemet, CA	2.0	1.0	900	$1,675	$1.86	24d	1	1.32mi
120 Santa Lucia Dr Hemet, CA	2.0	2.0	1197	$1,600	$1.34	43d	1	1.35mi
101 San Mateo Cir Hemet, CA	2.0	2.0	1152	$1,725	$1.50	16d	1	1.36mi
611 S Palm Ave Unit K Hemet, CA	2.0	2.0	1254	$1,895	$1.51	7d	1	1.40mi
1241 Sandlewood Dr Hemet, CA	2.0	1.5	1504	$2,000	$1.33	43d	1	1.45mi
471 S Simpson Ave Unit D Hemet, CA	2.0	2.0	900	$1,750	$1.94	43d	1	1.49mi

Listing history 17 events

1. 2026-06-18
   days on market $175,990 Active 21 DOM
2. 2026-06-17
   days on market $175,990 Active 20 DOM
3. 2026-06-16
   days on market $175,990 Active 19 DOM
4. 2026-06-15
   days on market $175,990 Active 18 DOM
5. 2026-06-13
   days on market $175,990 Active 16 DOM
6. 2026-06-09
   days on market $175,990 Active 12 DOM
7. 2026-06-08
   days on market $175,990 Active 11 DOM
8. 2026-06-07
   pricedays on market $175,990 Active 10 DOM
9. 2026-06-04
   days on market $175,999 Active 7 DOM
10. 2026-06-03
    days on market $175,999 Active 6 DOM
11. 2026-06-02
    days on market $175,999 Active 5 DOM
12. 2026-06-01
    days on market $175,999 Active 4 DOM
13. 2026-05-31
    days on market $175,999 Active 3 DOM
14. 2026-05-21
    historical $175,999
15. 2025-07-09
    soldstatus $175,000 Closed Sale 516-char remark

    Show marketing remark (516 chars)

    Turn key, move-in ready, beautiful 3 bedroom 2 bath home, with ceiling fans throughout big kitchen island separate dining room , New paint in home, New luxury laminate flooring, all kitchen, bathroom counter countertops, and showers and soaking bath have been re-done , home is on a big lot with carport parking and driveway parking with a bonus shed, this all ages, family park is gated and has community pool and spa park and barbecues for all the community to use!! Book your appointment today to see this home!!!

16. 2025-06-03
    status Pending Sale 516-char remark

    Show marketing remark (516 chars)

    Turn key, move-in ready, beautiful 3 bedroom 2 bath home, with ceiling fans throughout big kitchen island separate dining room , New paint in home, New luxury laminate flooring, all kitchen, bathroom counter countertops, and showers and soaking bath have been re-done , home is on a big lot with carport parking and driveway parking with a bonus shed, this all ages, family park is gated and has community pool and spa park and barbecues for all the community to use!! Book your appointment today to see this home!!!

17. 2025-05-08
    listed $179,900 Active 516-char remark

    Show marketing remark (516 chars)

    Turn key, move-in ready, beautiful 3 bedroom 2 bath home, with ceiling fans throughout big kitchen island separate dining room , New paint in home, New luxury laminate flooring, all kitchen, bathroom counter countertops, and showers and soaking bath have been re-done , home is on a big lot with carport parking and driveway parking with a bonus shed, this all ages, family park is gated and has community pool and spa park and barbecues for all the community to use!! Book your appointment today to see this home!!!

ⓘ 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 7/10 Severe
• 🌡 Heat 7/10 Severe 6 d/yr ≥102°F today · 19 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: $25,679
• − Mortgage interest: −$9,858
• − Property taxes: −$2,640
• − Insurance: −$880
• − Repairs & maintenance: −$2,054
• − Management: −$2,054
• − Depreciation: −$5,120
• Taxable income: $3,073
• Est. tax owed @ 24.0%: −$737
• After-tax cash flow: $4,954/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 · 12 photos

Good 80/100 Cosmetic rehab

This well-maintained, move-in-ready manufactured home in Saddleback Estates offers a comfortable and inviting living space with modern updates and a family-friendly community setting.

Value-add opportunities

• Both landscaping — enhances curb appeal and adds value
• Both paint — refreshes the interior and exterior
• Both window treatments — improves energy efficiency and aesthetics

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — enhances curb appeal and adds value ↑
• Both paint — refreshes the interior and exterior ↑
• Both window treatments — improves energy efficiency and aesthetics ↑

ⓘ 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

-2.2% since first listed

4 events — show timeline

• 2026-05-21 Coming Soon $175,999 CRMLS
• 2025-07-09 Sold (MLS) $175,000 CRMLS
• 2025-06-03 Pending — CRMLS
• 2025-05-08 Listed $179,900 CRMLS