1097 N State #186 · Hemet, CA 92543

$124,500

1 bd · 1.0 ba · 600 sqft · Manufactured public records · 88 Days on market

Built 1976 $208/sqft · 33% above area Est $94k · 33% over ↓ 9% 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 +25.7/30.0
• DSCR +8.6/10.0
• 1% rule +6.8/10.0
• Rent growth +2.9/5.0
• Livability +2.6/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming home features an elegant and updated interior with beautiful beamed ceilings and laminate flooring. In addition this beautiful home provides a cozy environment while providing a spacious living and dining area well designed for any occasion. Transitioning from the living room you will step into a fully remodeled and elegant modern kitchen with a ceramic kitchen island and a built in microwave. Maintaining the modern interior of the home is an updated bathroom. Conveniently the laundry room is located outside. This home also has a BONUS ROOM!! Which means you have a spare guest room and/or office. In addition this home provides an incredibly spacious driveway for 4 cars! Making any celebration possible for your friends and family! This residence is located in a park with a clubhouse, library, and community pool. This home is perfect for first-time homebuyers.

Key facts

• Community pool
• Built 1976
• Listed 88 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $124k.

Deal economics

• At list price, monthly cash flow is $299 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $124k).
• Recommended offer: $117k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).
• This rent runs 36% 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 $861 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.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($117k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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: extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $117,030 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.18% ✓
• Cap rate: 9.17%
• Cash-on-cash: 10.29%
• DSCR: 1.46
• GRM: 7.1

CMA / ARV

• ARV (median comp): $93,595
• List price: $124,500
• Delta: 33.02%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1097 N State St #124	0.13mi	2/2.0 (+1)	672 (+12%)	18mo	$94,000	$140	51
609 Imperial Way	0.69mi	2/1.0 (+1)	600 (0%)	18mo	$264,500	$441	48

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: -2.2%
• Equity multiple: 0.92×
• Total profit: $-2,918
• Equity at exit: $18,563

10-year hold

• IRR: 6.1%
• Equity multiple: 1.43×
• Total profit: $14,830
• Equity at exit: $10,764

Cash invested: $34,860 (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: 7.1×

Monthly cashflow live

• Estimated rent: $1,468 high
• Mortgage (P&I): −$653
• Tax est. 1.5%: −$156 /mo · $1,868/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $299

Break-even live

Break-even rent $1,089

Max offer price $124,500

Occupancy floor 75%

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: $31,125
• Closing costs: $3,735
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
526 Greystone Ln Hemet, CA	2.0	1.0	700	$1,600	$2.29	43d	1	0.88mi
526 Greystone Ln Hemet, CA	2.0	1.0	700	$1,600	$2.29	17d	1	0.88mi
526 Greystone Ln Apt 3 Hemet, CA	2.0	1.0	700	$1,650	$2.36	43d	1	0.88mi
811 E Menlo Ave Apt 12 Hemet, CA	1.0	1.0	550	$1,300	$2.36	24d	1	0.92mi
811 E Menlo Ave Unit 02 Hemet, CA	1.0	1.0	550	$1,300	$2.36	43d	1	0.92mi
560 E Oakland Ave Apt P Hemet, CA	1.0	1.0	550	$1,325	$2.41	16d	1	0.96mi
426 N Buena Vista St Hemet, CA	2.0	1.0	680	$1,550	$2.28	3d	1	1.02mi
426 N Buena Vista St Apt 1 Hemet, CA	2.0	1.0	680	$1,550	$2.28	7d	1	1.02mi
233 N Alessandro St Hemet, CA	1.0	1.0	690	$1,400	$2.03	43d	1	1.09mi
199 N Inez St Apt D Hemet, CA	1.0	1.0	650	$1,300	$2.00	7d	1	1.18mi
201 N Valley View Dr Hemet, CA	1.0	1.0	552	$1,500	$2.72	43d	1	1.21mi
210 N Santa Fe St Hemet, CA	1.0	1.0	600	$1,300	$2.17	3d	1	1.39mi
1376 E Date St Unit 5 Hemet, CA	2.0	1.0	650	$1,500	$2.31	16d	1	1.41mi
113 E Kimball Ave Unit 2 Hemet, CA	2.0	1.0	500	$1,295	$2.59	43d	1	1.45mi

Listing history 22 events

1. 2026-06-18
   days on market $124,500 Active 88 DOM
2. 2026-06-17
   days on market $124,500 Active 87 DOM
3. 2026-06-16
   days on market $124,500 Active 86 DOM
4. 2026-06-15
   days on market $124,500 Active 85 DOM
5. 2026-06-13
   days on market $124,500 Active 83 DOM
6. 2026-06-13
   days on market $124,500 Active 82 DOM
7. 2026-06-09
   days on market $124,500 Active 79 DOM
8. 2026-06-08
   days on market $124,500 Active 78 DOM
9. 2026-06-07
   days on market $124,500 Active 77 DOM
10. 2026-06-04
    days on market $124,500 Active 74 DOM
11. 2026-06-03
    days on market $124,500 Active 73 DOM
12. 2026-06-02
    days on market $124,500 Active 72 DOM
13. 2026-06-01
    days on market $124,500 Active 71 DOM
14. 2026-05-31
    days on market $124,500 Active 70 DOM
15. 2026-03-22
    listed $124,500 Active 884-char remark

    Show marketing remark (884 chars)

    This charming home features an elegant and updated interior with beautiful beamed ceilings and laminate flooring. In addition this beautiful home provides a cozy environment while providing a spacious living and dining area well designed for any occasion. Transitioning from the living room you will step into a fully remodeled and elegant modern kitchen with a ceramic kitchen island and a built in microwave. Maintaining the modern interior of the home is an updated bathroom. Conveniently the laundry room is located outside. This home also has a BONUS ROOM!! Which means you have a spare guest room and/or office. In addition this home provides an incredibly spacious driveway for 4 cars! Making any celebration possible for your friends and family! This residence is located in a park with a clubhouse, library, and community pool. This home is perfect for first-time homebuyers.

16. 2026-03-14
    historical $124,500 884-char remark

    Show marketing remark (884 chars)

    This charming home features an elegant and updated interior with beautiful beamed ceilings and laminate flooring. In addition this beautiful home provides a cozy environment while providing a spacious living and dining area well designed for any occasion. Transitioning from the living room you will step into a fully remodeled and elegant modern kitchen with a ceramic kitchen island and a built in microwave. Maintaining the modern interior of the home is an updated bathroom. Conveniently the laundry room is located outside. This home also has a BONUS ROOM!! Which means you have a spare guest room and/or office. In addition this home provides an incredibly spacious driveway for 4 cars! Making any celebration possible for your friends and family! This residence is located in a park with a clubhouse, library, and community pool. This home is perfect for first-time homebuyers.

17. 2026-01-14
    historical
18. 2025-09-23
    price $129,500
19. 2025-08-14
    listed $137,500 Active
20. 2025-08-08
    historical
21. 2025-06-28
    listed $137,500 Active
22. 2025-06-17
    historical

ⓘ 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 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: $17,611
• − Mortgage interest: −$6,974
• − Property taxes: −$1,868
• − Insurance: −$622
• − Repairs & maintenance: −$1,409
• − Management: −$1,409
• − Depreciation: −$3,622
• Taxable income: $1,707
• Est. tax owed @ 24.0%: −$410
• After-tax cash flow: $3,178/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

-9.5% since first listed

8 events — show timeline

• 2026-03-22 Listed $124,500 CRMLS
• 2026-03-14 Coming Soon $124,500 CRMLS
• 2026-01-14 Listing Removed — CRMLS
• 2025-09-23 Price Changed $129,500 CRMLS
• 2025-08-14 Listed $137,500 CRMLS
• 2025-08-08 Listing Removed — CRMLS
• 2025-06-28 Listed $137,500 CRMLS
• 2025-06-17 Coming Soon — CRMLS

Property tax history

-2.0%/yr

Latest (2025): $102 · +8.2% YoY. Source: county tax records.