881 N Lake St #281 · Hemet, CA 92544

$125,000

2 bd · 2.0 ba · 1,440 sqft · Manufactured · 131 Days on market

Built 1976 Good condition $87/sqft · 32% above area Est $95k · 32% over

---

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
• Condition / age +3.8/5.0
• Rent growth +3.7/5.0
• Livability +2.6/5.0
• Schools +2.5/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Upgrades galore at Casa Del Rey a 55+ active community bring your most picky buyers! Home features an open floor plan with a generous sized living room, Vaulted ceilings and new paint inside and out, recently installed double pane windows for more power efficiency and block unwanted noise, also newly installed roof. Recently installed laminate flooring in all common areas with carpet only in the bedrooms. Kitchen offers a combo of stainless steel appliances with plenty of storage room and features and extra sink. Updated bathrooms with very unique features. There is also a more cozy family room past the kitchen home is overall an entertainer. Home is a must see.

Key facts

• Open floor plan
• Laminate flooring
• Double pane windows

Tags

• OPEN FLOOR PLAN
• VAULTED CEILINGS
• DOUBLE PANE WINDOWS
• NEWLY INSTALLED ROOF
• LAMINATE FLOORING
• STAINLESS STEEL APPLIANCES

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $125k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $700 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.0% 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+, amenities F, commute 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.
• Zoned schools: Bautista Creek Elementary (math 10% / reading 50%, grade F, #849 of 1,571 statewide, top 54%, 1,001 students, 80% FRL); Acacia Middle (1,016 students, 94% FRL); Hemet High (math 21% / reading 46%, grade F, #656 of 1,170 statewide, top 57%, 2,438 students, 82% FRL) — zoned schools average 85% FRL vs 66% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.9%/yr); 329 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 32% of the median local income ($74k/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 $864 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.
• At projected returns (-3.0% appreciation + 4.9% rent growth), your $35k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 131 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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 $90k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 5→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 131 days. Have you received any prior offers? Is the seller open to a 12% 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: 1.58% ✓
• Cap rate: 13.02%
• Cash-on-cash: 24.01%
• DSCR: 2.07
• GRM: 5.3

CMA / ARV

• ARV (median comp): $95,024
• List price: $125,000
• Delta: 31.55%
• 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
24600 Mountain Ave #20	0.21mi	2/2.0	1,440 (0%)	3mo	$130,000	$90	88
24600 Mountain #58	0.21mi	2/2.0	1,440 (0%)	5mo	$80,000	$56	86
24600 Mountain Ave #97	0.21mi	2/2.0	1,440 (0%)	7mo	$89,000	$62	85
24600 Mountain Ave #103	0.21mi	2/2.0	1,440 (0%)	8mo	$90,000	$63	84
881 N Lake St #204	0.10mi	2/2.0	1,344 (-7%)	3mo	$75,000	$56	82
24600 Mountain Ave #63	0.21mi	2/2.0	1,344 (-7%)	1mo	$39,000	$29	78
880 Lake St N #81	0.17mi	2/2.0	1,344 (-7%)	8mo	$98,000	$73	74
24600 Mountain Ave #66	0.21mi	2/2.0	1,344 (-7%)	6mo	$129,900	$97	74
24770 Wendell Dr	0.62mi	2/2.0	1,440 (0%)	1mo	$259,000	$180	71
880 N Lake St #49	0.22mi	2/2.5	1,344 (-7%)	7mo	$103,000	$77	71
24761 Wendell Dr	0.59mi	2/2.0	1,344 (-7%)	0mo	$400,000	$298	61
25005 Rosebrugh Ln	0.67mi	3/2.0 (+1)	1,620 (+12%)	10mo	$415,000	$256	35

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 · 4.9% rent growth · sell at horizon

5-year hold

• IRR: 19.4%
• Equity multiple: 1.81×
• Total profit: $28,240
• Equity at exit: $18,638

10-year hold

• IRR: 29.0%
• Equity multiple: 3.82×
• Total profit: $98,606
• Equity at exit: $10,808

Cash invested: $35,000 (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 92544

• Rents YoY: 4.9%
• Active inventory: 329
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,980 high
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$416
• Net cashflow: $700

Break-even live

Break-even rent $1,093

Max offer price $125,000

Occupancy floor 60%

Sensitivity live

Price	-10% $787	-5% $744	+0% $700	+5% $657	+10% $614
Rent	-10% $544	-5% $622	+0% $700	+5% $779	+10% $857
Rate	-1.0pp $763	-0.5pp $732	base $700	+0.5pp $668	+1.0pp $635

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1809 Rue Chenin Blanc San Jacinto, CA	3.0	2.0	1548	$2,500	$1.61	6d	1	0.52mi
1939 Hooper Dr San Jacinto, CA	2.0	2.0	1111	$1,950	$1.76	26d	1	0.68mi
43170 Wall St Hemet, CA	2.0	2.0	1140	$1,895	$1.66	4d	1	0.87mi
43435 Nola St Hemet, CA	3.0	2.0	1500	$1,950	$1.30	26d	1	0.87mi
43601 E Florida Ave Unit 43 Hemet, CA	2.0	2.0	960	$1,500	$1.56	45d	1	1.39mi
43601 E Florida Ave Hemet, CA	2.0	2.0	960	$1,550	$1.61	45d	1	1.39mi
43601 E Florida Ave Unit 43 Hemet, CA	2.0	2.0	960	$1,450	$1.51	25d	1	1.39mi
43816 C St Hemet, CA	2.0	2.0	1040	$2,250	$2.16	26d	1	1.43mi
41818 Acacia East Ave Hemet, CA	2.0	1.0	1000	$1,850	$1.85	16d	1	1.43mi
26123 Anawood Pl Hemet, CA	2.0	1.0	991	$1,680	$1.70	45d	1	1.45mi
41611 Marine Dr Hemet, CA	2.0	1.0	1050	$1,700	$1.62	14d	1	1.46mi
26097 Doverwood Pl Hemet, CA	2.0	1.0	1019	$1,849	$1.81	45d	1	1.48mi
26111 Doverwood Pl Hemet, CA	2.0	1.0	1252	$1,849	$1.48	13d	1	1.49mi

Listing history 20 events

1. 2026-06-21
   days on market $125,000 Active 131 DOM
2. 2026-06-18
   days on market $125,000 Active 128 DOM
3. 2026-06-17
   days on market $125,000 Active 127 DOM
4. 2026-06-16
   days on market $125,000 Active 126 DOM
5. 2026-06-15
   days on market $125,000 Active 125 DOM
6. 2026-06-13
   days on market $125,000 Active 123 DOM
7. 2026-06-09
   days on market $125,000 Active 119 DOM
8. 2026-06-08
   days on market $125,000 Active 118 DOM
9. 2026-06-07
   days on market $125,000 Active 117 DOM
10. 2026-06-04
    days on market $125,000 Active 114 DOM
11. 2026-06-03
    days on market $125,000 Active 113 DOM
12. 2026-06-02
    days on market $125,000 Active 112 DOM
13. 2026-06-01
    days on market $125,000 Active 111 DOM
14. 2026-05-31
    days on market $125,000 Active 110 DOM
15. 2026-02-10
    listed $125,000 Active 670-char remark

    Show marketing remark (670 chars)

    Upgrades galore at Casa Del Rey a 55+ active community bring your most picky buyers! Home features an open floor plan with a generous sized living room, Vaulted ceilings and new paint inside and out, recently installed double pane windows for more power efficiency and block unwanted noise, also newly installed roof. Recently installed laminate flooring in all common areas with carpet only in the bedrooms. Kitchen offers a combo of stainless steel appliances with plenty of storage room and features and extra sink. Updated bathrooms with very unique features. There is also a more cozy family room past the kitchen home is overall an entertainer. Home is a must see.

16. 2025-03-25
    soldstatus $89,900 Closed Sale 750-char remark

    Show marketing remark (750 chars)

    55 + Securely Gated, Scenic, Community of Casa Del Rey. This mobile Home has VAULTED CEILINGS. NEW CUSTOM PAINT INSIDE AND OUTSIDE. STAINLESS STEEL APPLIANCES REFRIGERATOR INCLUDED. WASHER & DRYER. EXTRA SINK AND CABINET as you walk in the sliding glass door from the porch. NEW CUSTOM KITCHEN CABINETS WITH NEW COUNTER TOPS. NEW LIGHTING. NEW LAMINATE FLOORING WITH CARPETING IN THE BEDROOMS. CUSTOM WALK IN SHOWER WITH CUSTOM SHOWER DOOR in the Master Bathroom and TWO SINKS AND A GARDEN TUB . HARDSCAPE COMPLETE WITH SOME PLANTS for a finished look. MOVE IN READY. Come enjoy an active retirement in this wonderful Casa Del Rey Park where we offer you "a little more for a little less". .. Affordable space rent of $689.00 a month.

17. 2025-02-26
    status Pending Sale 750-char remark

    Show marketing remark (750 chars)

    55 + Securely Gated, Scenic, Community of Casa Del Rey. This mobile Home has VAULTED CEILINGS. NEW CUSTOM PAINT INSIDE AND OUTSIDE. STAINLESS STEEL APPLIANCES REFRIGERATOR INCLUDED. WASHER & DRYER. EXTRA SINK AND CABINET as you walk in the sliding glass door from the porch. NEW CUSTOM KITCHEN CABINETS WITH NEW COUNTER TOPS. NEW LIGHTING. NEW LAMINATE FLOORING WITH CARPETING IN THE BEDROOMS. CUSTOM WALK IN SHOWER WITH CUSTOM SHOWER DOOR in the Master Bathroom and TWO SINKS AND A GARDEN TUB . HARDSCAPE COMPLETE WITH SOME PLANTS for a finished look. MOVE IN READY. Come enjoy an active retirement in this wonderful Casa Del Rey Park where we offer you "a little more for a little less". .. Affordable space rent of $689.00 a month.

18. 2024-12-18
    status Active 750-char remark

    Show marketing remark (750 chars)

    55 + Securely Gated, Scenic, Community of Casa Del Rey. This mobile Home has VAULTED CEILINGS. NEW CUSTOM PAINT INSIDE AND OUTSIDE. STAINLESS STEEL APPLIANCES REFRIGERATOR INCLUDED. WASHER & DRYER. EXTRA SINK AND CABINET as you walk in the sliding glass door from the porch. NEW CUSTOM KITCHEN CABINETS WITH NEW COUNTER TOPS. NEW LIGHTING. NEW LAMINATE FLOORING WITH CARPETING IN THE BEDROOMS. CUSTOM WALK IN SHOWER WITH CUSTOM SHOWER DOOR in the Master Bathroom and TWO SINKS AND A GARDEN TUB . HARDSCAPE COMPLETE WITH SOME PLANTS for a finished look. MOVE IN READY. Come enjoy an active retirement in this wonderful Casa Del Rey Park where we offer you "a little more for a little less". .. Affordable space rent of $689.00 a month.

19. 2024-12-05
    status Pending Sale 750-char remark

    Show marketing remark (750 chars)

    55 + Securely Gated, Scenic, Community of Casa Del Rey. This mobile Home has VAULTED CEILINGS. NEW CUSTOM PAINT INSIDE AND OUTSIDE. STAINLESS STEEL APPLIANCES REFRIGERATOR INCLUDED. WASHER & DRYER. EXTRA SINK AND CABINET as you walk in the sliding glass door from the porch. NEW CUSTOM KITCHEN CABINETS WITH NEW COUNTER TOPS. NEW LIGHTING. NEW LAMINATE FLOORING WITH CARPETING IN THE BEDROOMS. CUSTOM WALK IN SHOWER WITH CUSTOM SHOWER DOOR in the Master Bathroom and TWO SINKS AND A GARDEN TUB . HARDSCAPE COMPLETE WITH SOME PLANTS for a finished look. MOVE IN READY. Come enjoy an active retirement in this wonderful Casa Del Rey Park where we offer you "a little more for a little less". .. Affordable space rent of $689.00 a month.

20. 2024-11-19
    listed $89,900 Active 750-char remark

    Show marketing remark (750 chars)

    55 + Securely Gated, Scenic, Community of Casa Del Rey. This mobile Home has VAULTED CEILINGS. NEW CUSTOM PAINT INSIDE AND OUTSIDE. STAINLESS STEEL APPLIANCES REFRIGERATOR INCLUDED. WASHER & DRYER. EXTRA SINK AND CABINET as you walk in the sliding glass door from the porch. NEW CUSTOM KITCHEN CABINETS WITH NEW COUNTER TOPS. NEW LIGHTING. NEW LAMINATE FLOORING WITH CARPETING IN THE BEDROOMS. CUSTOM WALK IN SHOWER WITH CUSTOM SHOWER DOOR in the Master Bathroom and TWO SINKS AND A GARDEN TUB . HARDSCAPE COMPLETE WITH SOME PLANTS for a finished look. MOVE IN READY. Come enjoy an active retirement in this wonderful Casa Del Rey Park where we offer you "a little more for a little less". .. Affordable space rent of $689.00 a month.

ⓘ 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 5 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 11 unhealthy d/yr today · 13 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,761
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$1,901
• − Management: −$1,901
• − Depreciation: −$3,636
• Taxable income: $6,821
• Est. tax owed @ 24.0%: −$1,637
• After-tax cash flow: $6,768/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 · 13 photos

Good 75/100 Cosmetic rehab

This mobile home is in good condition with recent updates, including a new roof and laminate flooring. It's move-in ready and has a good curb appeal.

Value-add opportunities

• Both Painting the exterior — Fresh paint can enhance curb appeal and value
• Both Landscaping improvements — Enhances curb appeal and can attract more buyers
• Both New flooring in bedrooms — Improves aesthetics and can increase rental value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior — Fresh paint can enhance curb appeal and value ↑
• Both Landscaping improvements — Enhances curb appeal and can attract more buyers ↑
• Both New flooring in bedrooms — Improves aesthetics and can increase 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): 51,751
• Household income: $73,596
• Rent vs Own: 31.2% rent · 68.8% own
• Severe rent burden: 1518.0

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 0.59)
• Race & ethnicity: Hispanic / Latino 49% White 40% Two or more races 18% Black 5% Asian 3% Native American 2%
• Hispanic origin (detail): Mexican 43% Puerto Rican 1%
• Common ancestry: Slovak 2% Italian 2% Portuguese 2%
• Foreign-born: 15% · Canada, China
• Languages at home: 70% English-only · Spanish 27% Other Asian/Pacific 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: ▼ -219.06%
• Current HPI: 391.972
• Rent YoY: ▲ 4.90%
• 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

+39.0% since first listed

6 events — show timeline

• 2026-02-10 Listed $125,000 CRMLS
• 2025-03-25 Sold (MLS) $89,900 CRMLS
• 2025-02-26 Pending — CRMLS
• 2024-12-18 Relisted — CRMLS
• 2024-12-05 Pending — CRMLS
• 2024-11-19 Listed $89,900 CRMLS