601 Kirby St N #178 · Hemet, CA 92545

$69,900

2 bd · 2.0 ba · 1,536 sqft · Manufactured public records · 119 Days on market

Built 1973 $46/sqft · 29% above area Est $54k · 29% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.4/5.0
• Livability +2.6/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

A Must See!! Corner Unit. Entire home completely Remodeled-Kitchen with New Stainless Steel Appliances, New Floors, New Bathrooms, Dinning, Living room , Family room, New Water heater New Roof!! 2 bedroom 2 baths located in the luxurious Colonial Country Club 55 Plus community. Enjoy the beautiful weather while taking advantage of the 5 stars resort. Play a leisure round of Golf on the 18-hole Golf course. Year-Round Large Swimming Pool and Spa. 6 New Pickleball Courts, Large Ballroom, Fitness Center, Library, Billiards Doggie play yard, on site dog groomer. on site Hair Salon shop, Horseshoe Pits, Bridge & Misc. Cards & Indoor Shuffleboard Courts

Key facts

• New floors
• Remodeled kitchen
• New water heater

Tags

• CORNER UNIT
• REMODELED KITCHEN
• NEW STAINLESS STEEL APPLIANCES
• NEW FLOORS
• NEW BATHROOMS
• NEW WATER HEATER

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $70k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $64k (9.0% below list) — sets the bar for market timing.
• Cap rate 27.5% 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 (+3.7%/yr); 290 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 41% 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 $483 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 $20k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($64k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 5→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $63,609 (9.0% below list)

Questions for the listing agent

1. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — 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: 3.11% ✓
• Cap rate: 27.49%
• Cash-on-cash: 75.70%
• DSCR: 4.37
• GRM: 2.7

CMA / ARV

• ARV (median comp): $54,137
• List price: $69,900
• Delta: 29.12%
• 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
601 N Kirby St #501	0.00mi	2/2.0	1,440 (-6%)	0mo	$49,000	$34	89
601 Kirby St N #451	0.02mi	2/2.0	1,440 (-6%)	0mo	$60,000	$42	89
601 Kirby St N #235	0.00mi	2/2.0	1,440 (-6%)	3mo	$84,000	$58	87
601 N Kirby St #67	0.00mi	2/2.0	1,440 (-6%)	6mo	$73,000	$51	85
601 N Kirby St #220	0.00mi	2/2.0	1,440 (-6%)	6mo	$38,500	$27	85
601 N Kirby St #159	0.04mi	3/2.0 (+1)	1,440 (-6%)	5mo	$69,000	$48	79
601 N Kirby #269	0.00mi	3/2.0 (+1)	1,652 (+8%)	6mo	$105,000	$64	77
601 N Kirby #177	0.21mi	2/2.0	1,344 (-12%)	1mo	$10,000	$7	69
1895 W Devonshire #20	0.75mi	2/2.0	1,344 (-12%)	1mo	$44,000	$33	44
1895 W Devonshire Ave #76	0.75mi	2/2.0	1,344 (-12%)	4mo	$55,000	$41	42
1895 W Devonshire Ave #74	0.75mi	3/2.0 (+1)	1,344 (-12%)	2mo	$80,000	$60	38
1895 W Devonshire Ave #148	0.75mi	3/2.0 (+1)	1,344 (-12%)	7mo	$87,500	$65	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 · 3.74% rent growth · sell at horizon

5-year hold

• IRR: 76.5%
• Equity multiple: 4.52×
• Total profit: $68,970
• Equity at exit: $10,422

10-year hold

• IRR: 80.3%
• Equity multiple: 9.60×
• Total profit: $168,237
• Equity at exit: $6,044

Cash invested: $19,572 (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: 2.7×

Monthly cashflow live

• Estimated rent: $2,174 high
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$87 /mo · $1,048/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$457
• Net cashflow: $1,235

Break-even live

Break-even rent $611

Max offer price $69,900

Occupancy floor 38%

Sensitivity live

Price	-10% $1,283	-5% $1,259	+0% $1,235	+5% $1,210	+10% $1,186
Rent	-10% $1,063	-5% $1,149	+0% $1,235	+5% $1,320	+10% $1,406
Rate	-1.0pp $1,270	-0.5pp $1,252	base $1,235	+0.5pp $1,216	+1.0pp $1,198

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
743 Via Linda Dr Hemet, CA	2.0	2.0	1206	$1,995	$1.65	5d	1	0.28mi
811 Alondra Dr Hemet, CA	2.0	2.0	1166	$1,875	$1.61	5d	1	0.31mi
853 Ensenada Dr Hemet, CA	2.0	2.0	1350	$1,875	$1.39	24d	1	0.36mi
853 Ensenada Dr Hemet, CA	2.0	2.0	1350	$1,875	$1.39	12d	1	0.36mi
3471 Dublin Ct Hemet, CA	3.0	2.0	1276	$2,895	$2.27	4d	1	0.37mi
2014 Iris Way Hemet, CA	3.0	2.0	1192	$2,850	$2.39	44d	1	0.64mi
3800 W Devonshire Ave Hemet, CA	3.0	1.0–2.0	816	$2,055	$2.52	2d	8	0.64mi
2208 El Grande St Hemet, CA	2.0	2.0	1327	$2,100	$1.58	18d	1	0.67mi
1700 Walden Ln Hemet, CA	3.0	2.0	1430	$2,670	$1.87	24d	1	0.77mi
3030 W Acacia Ave Hemet, CA	1.0–3.0	1.0–2.0	892	$1,895	$2.12	2d	10	0.79mi
543 La Cresta Dr Hemet, CA	2.0	2.0	1544	$1,595	$1.03	44d	1	0.80mi
1245 Millie Dr Hemet, CA	3.0	2.0	1392	$2,850	$2.05	8d	1	0.83mi
663 Mariposa Dr Hemet, CA	2.0	2.0	1440	$1,500	$1.04	24d	1	0.96mi
2098 W Acacia Ave Hemet, CA	1.0–3.0	1.0–2.0	895	$2,035	$2.27	2d	1	0.96mi
1315 W Latham Ave Hemet, CA	3.0	2.5	1340	$2,550	$1.90	44d	1	1.11mi
828 Coramdeo Ct Hemet, CA	3.0	2.0	1543	$3,000	$1.94	44d	1	1.12mi
4400 W Florida Ave Unit 86 Hemet, CA	3.0	2.0	1310	$1,800	$1.37	44d	1	1.15mi
4400 W Florida Ave Spc 26 Hemet, CA	3.0	2.0	1193	$1,699	$1.42	15d	1	1.18mi
1967 Connor Ln San Jacinto, CA	3.0	2.5	1708	$2,950	$1.73	8d	1	1.28mi
1850 Amberwood Dr Hemet, CA	2.0	2.0	1170	$1,561	$1.33	44d	1	1.29mi
471 Whitney Dr Hemet, CA	2.0	2.0	1085	$1,800	$1.66	5d	1	1.30mi
683 Jonquil St Hemet, CA	3.0	2.0	1150	$2,448	$2.13	24d	1	1.33mi
1844 Paradise Way San Jacinto, CA	3.0	2.0	1540	$3,000	$1.95	44d	1	1.34mi
914 Haviture Way Hemet, CA	3.0	2.0	1935	$2,900	$1.50	2d	1	1.47mi
828 Greenwich Ct Hemet, CA	3.0	3.0	1977	$2,700	$1.37	19d	1	1.49mi

Listing history 15 events

1. 2026-06-18
   days on market $69,900 Active 119 DOM
2. 2026-06-17
   days on market $69,900 Active 118 DOM
3. 2026-06-16
   days on market $69,900 Active 117 DOM
4. 2026-06-15
   days on market $69,900 Active 116 DOM
5. 2026-06-13
   pricedays on market $69,900 Active 114 DOM
6. 2026-06-09
   days on market $74,900 Active 110 DOM
7. 2026-06-08
   days on market $74,900 Active 109 DOM
8. 2026-06-07
   days on market $74,900 Active 108 DOM
9. 2026-06-04
   days on market $74,900 Active 105 DOM
10. 2026-06-03
    days on market $74,900 Active 104 DOM
11. 2026-06-02
    days on market $74,900 Active 103 DOM
12. 2026-06-01
    days on market $74,900 Active 102 DOM
13. 2026-05-31
    days on market $74,900 Active 101 DOM
14. 2026-02-19
    price $74,900 667-char remark

    Show marketing remark (667 chars)

    A Must See!! Corner Unit. Entire home completely Remodeled-Kitchen with New Stainless Steel Appliances, New Floors, New Bathrooms, Dinning, Living room , Family room, New Water heater New Roof!! 2 bedroom 2 baths located in the luxurious Colonial Country Club 55 Plus community. Enjoy the beautiful weather while taking advantage of the 5 stars resort. Play a leisure round of Golf on the 18-hole Golf course. Year-Round Large Swimming Pool and Spa. 6 New Pickleball Courts, Large Ballroom, Fitness Center, Library, Billiards Doggie play yard, on site dog groomer. on site Hair Salon shop, Horseshoe Pits, Bridge & Misc. Cards & Indoor Shuffleboard Courts

15. 2026-02-19
    listed $74,900,000 Active 667-char remark

    Show marketing remark (667 chars)

    A Must See!! Corner Unit. Entire home completely Remodeled-Kitchen with New Stainless Steel Appliances, New Floors, New Bathrooms, Dinning, Living room , Family room, New Water heater New Roof!! 2 bedroom 2 baths located in the luxurious Colonial Country Club 55 Plus community. Enjoy the beautiful weather while taking advantage of the 5 stars resort. Play a leisure round of Golf on the 18-hole Golf course. Year-Round Large Swimming Pool and Spa. 6 New Pickleball Courts, Large Ballroom, Fitness Center, Library, Billiards Doggie play yard, on site dog groomer. on site Hair Salon shop, Horseshoe Pits, Bridge & Misc. Cards & Indoor Shuffleboard Courts

ⓘ 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 6/10 Major
• 🌡 Heat 7/10 Severe 5 d/yr ≥104°F today · 14 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: $26,091
• − Mortgage interest: −$3,915
• − Property taxes: −$1,048
• − Insurance: −$350
• − Repairs & maintenance: −$2,087
• − Management: −$2,087
• − Depreciation: −$2,033
• Taxable income: $14,570
• Est. tax owed @ 24.0%: −$3,497
• After-tax cash flow: $11,319/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

-99.9% since first listed

2 events — show timeline

• 2026-02-19 Price Changed $74,900 CRMLS
• 2026-02-19 Listed $74,900,000 CRMLS

Property tax history

-6.9%/yr

Latest (2025): $94 · -11.6% YoY. Source: county tax records.