1455 S State #186 · Hemet, CA 92543

$140,000

3 bd · 2.0 ba · 1,100 sqft · Manufactured · 233 Days on market

Built 1968 Average condition $127/sqft · 32% above area Est $106k · 32% 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
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• Rent growth +2.9/5.0
• Condition / age +2.8/5.0
• Livability +2.6/5.0
• Schools +2.5/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

this 3 bedroom 2 bath manufactured home in a tidy hemet mobile home park features central ac and heating, an update kitchen with laminate flooring, laundry hooks ups and a open, spacious layout. Enjoy a three -car driveway, front patio, and a low-maintenance backyard with detached storage adds privacy and extra space. Park amenities include a community pool, recreation room , and guest parking. A practical , comfortable home ideal for modern living in a friendly park setting

Key facts

• Central ac
• Laminate flooring
• Heating

Tags

• CENTRAL AC
• HEATING
• UPDATED KITCHEN
• LAMINATE FLOORING
• LAUNDRY HOOK UPS
• THREE CAR DRIVEWAY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $140k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $641 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.8% 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; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 $2,035/mo this rent would consume 49% 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 $968 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 + 1.8% rent growth), your $39k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 233 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 22y 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.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 6→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 233 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 1968 — 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: 1.45% ✓
• Cap rate: 11.78%
• Cash-on-cash: 19.61%
• DSCR: 1.87
• GRM: 5.7

CMA / ARV

• ARV (median comp): $106,000
• List price: $140,000
• Delta: 32.08%
• 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
1455 S State St #111	0.03mi	2/2.0 (-1)	1,040 (-6%)	3mo	$102,000	$98	82
725 W Thornton Ave #22	0.22mi	2/2.0 (-1)	1,092 (-1%)	10mo	$43,000	$39	74
1536 S State St #134	0.36mi	3/2.0	1,058 (-4%)	9mo	$122,500	$116	70
1536 S State St #58	0.36mi	2/2.0 (-1)	1,152 (+5%)	6mo	$125,000	$109	66
725 W Thornton Ave #97	0.22mi	2/2.0 (-1)	960 (-13%)	4mo	$25,200	$26	60
1700 S State St #76	0.58mi	3/2.0	1,056 (-4%)	10mo	$50,000	$47	58
1536 S State St #80	0.31mi	3/2.0	1,232 (+12%)	10mo	$203,900	$166	57
1536 S State St #219	0.36mi	2/2.0 (-1)	1,248 (+14%)	0mo	$135,000	$108	56
1167 Via Del Mesa	0.71mi	2/2.0 (-1)	1,152 (+5%)	1mo	$135,000	$117	54
725 W Thornton Ave #14	0.22mi	2/2.0 (-1)	1,248 (+14%)	11mo	$68,000	$54	53
838 San Francisco Dr	0.75mi	2/2.0 (-1)	1,040 (-6%)	4mo	$110,000	$106	47
1083 Via Del Mesa	0.66mi	2/2.0 (-1)	1,200 (+9%)	3mo	$149,900	$125	46

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: 10.2%
• Equity multiple: 1.40×
• Total profit: $15,631
• Equity at exit: $20,874

10-year hold

• IRR: 18.3%
• Equity multiple: 2.43×
• Total profit: $56,225
• Equity at exit: $12,105

Cash invested: $39,200 (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: 5.7×

Monthly cashflow live

• Estimated rent: $2,035 high
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,100/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$427
• Net cashflow: $641

Break-even live

Break-even rent $1,225

Max offer price $140,000

Occupancy floor 64%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 35 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	0.25mi
390 Magnolia Cir Hemet, CA	2.0	2.0	1038	$2,400	$2.31	3d	1	0.47mi
1025 S Gilbert St Hemet, CA	1.0–2.0	1.0–2.0	890	$2,320	$2.61	1d	8	0.49mi
1005 S Gilbert St Hemet, CA	2.0	1.5	975	$1,825	$1.87	24d	2	0.55mi
640 Vista del Monte Hemet, CA	3.0	2.0	1480	$2,650	$1.79	43d	1	0.56mi
678 Monterey Pl Hemet, CA	2.0	2.0	1047	$1,995	$1.91	43d	1	0.67mi
576 Montecito Ave Unit C Hemet, CA	2.0	2.0	861	$1,850	$2.15	16d	1	0.70mi
893 S Palm Ave Hemet, CA	2.0	2.0	720	$1,375	$1.91	4d	1	0.74mi
853 Douglas Ct Hemet, CA	2.0	2.0	1148	$1,850	$1.61	3d	1	0.75mi
860 Douglas Ct Hemet, CA	2.0	2.0	1114	$1,850	$1.66	18d	1	0.75mi
750 Santa Clara Cir Hemet, CA	2.0	2.0	800	$1,400	$1.75	14d	1	0.77mi
716 Robert Dr Hemet, CA	3.0	2.0	1450	$2,300	$1.59	5d	1	0.81mi
700 Johnston Ave Unit 708 Hemet, CA	2.0	1.0	1000	$1,600	$1.60	7d	1	0.84mi
735 S Gilbert St Hemet, CA	3.0	2.0	1202	$2,400	$2.00	43d	1	0.84mi
1711 Pepper Tree Dr Hemet, CA	2.0	2.0	864	$1,675	$1.94	21d	1	0.93mi
876 W Whittier Ave Unit 878 Hemet, CA	2.0	2.0	1127	$2,150	$1.91	24d	1	0.95mi
120 Santa Lucia Dr Hemet, CA	2.0	2.0	1197	$1,600	$1.34	43d	1	1.00mi
101 San Mateo Cir Hemet, CA	2.0	2.0	1152	$1,725	$1.50	16d	1	1.01mi
611 S Palm Ave Unit K Hemet, CA	2.0	2.0	1254	$1,895	$1.51	7d	1	1.08mi
733 S San Jacinto St Unit B Hemet, CA	2.0	1.0	1000	$1,500	$1.50	24d	1	1.17mi
1521 W Westmont Ave Hemet, CA	2.0	2.0	1197	$2,000	$1.67	43d	1	1.17mi
471 S Simpson Ave Unit D Hemet, CA	2.0	2.0	900	$1,750	$1.94	43d	1	1.20mi
1955 Silver Oak Way Hemet, CA	3.0	2.0	1318	$2,250	$1.71	43d	1	1.20mi
363 S Gilbert St Unit B Hemet, CA	3.0	2.0	1200	$1,900	$1.58	13d	1	1.27mi
363 S Gilbert St Hemet, CA	3.0	2.0	1200	$1,900	$1.58	3d	1	1.27mi
26454 S San Jacinto St Hemet, CA	3.0	1.0	800	$1,795	$2.24	2d	1	1.29mi
26452 S San Jacinto St Hemet, CA	3.0	1.0	800	$1,795	$2.24	2d	1	1.29mi
1287 Olive Tree Ln Unit C Hemet, CA	2.0	1.0	995	$1,495	$1.50	24d	1	1.29mi
1287 Olive Tree Ln Unit D Hemet, CA	2.0	1.0	995	$1,599	$1.61	43d	1	1.29mi
26450 San Jacinto St Hemet, CA	3.0	2.0	1250	$2,295	$1.84	2d	1	1.29mi
1461 W Mayberry Ave Hemet, CA	2.0	2.0	1044	$1,750	$1.68	43d	1	1.33mi
26416 S San Jacinto St Unit 26416 Hemet, CA	2.0	1.0	900	$1,675	$1.86	24d	1	1.33mi
471 Whitney Dr Hemet, CA	2.0	2.0	1085	$1,800	$1.66	5d	1	1.43mi
1850 Amberwood Dr Hemet, CA	2.0	2.0	1170	$1,561	$1.33	43d	1	1.44mi
926 Griffith Way Hemet, CA	4.0	2.0	1300	$2,800	$2.15	43d	1	1.50mi

Listing history 13 events

1. 2026-05-31
   days on market $140,000 Active 233 DOM
2. 2025-10-29
   status Active 480-char remark

   Show marketing remark (480 chars)

   this 3 bedroom 2 bath manufactured home in a tidy hemet mobile home park features central ac and heating, an update kitchen with laminate flooring, laundry hooks ups and a open, spacious layout. Enjoy a three -car driveway, front patio, and a low-maintenance backyard with detached storage adds privacy and extra space. Park amenities include a community pool, recreation room , and guest parking. A practical , comfortable home ideal for modern living in a friendly park setting

3. 2025-10-09
   listed $140,000 Active 480-char remark

   Show marketing remark (480 chars)

   this 3 bedroom 2 bath manufactured home in a tidy hemet mobile home park features central ac and heating, an update kitchen with laminate flooring, laundry hooks ups and a open, spacious layout. Enjoy a three -car driveway, front patio, and a low-maintenance backyard with detached storage adds privacy and extra space. Park amenities include a community pool, recreation room , and guest parking. A practical , comfortable home ideal for modern living in a friendly park setting

4. 2023-10-09
   historical
5. 2023-07-28
   status Active
6. 2023-07-25
   status Active
7. 2023-06-17
   status Active
8. 2023-06-15
   status Active
9. 2023-04-12
   listed $140,000 Active
10. 2021-01-04
    historical
11. 2020-10-05
    listed $65,000 Active
12. 2004-06-21
    historical
13. 2004-02-21
    listed $23,000

ⓘ 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 · 18 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: $24,426
• − Mortgage interest: −$7,842
• − Property taxes: −$2,100
• − Insurance: −$700
• − Repairs & maintenance: −$1,954
• − Management: −$1,954
• − Depreciation: −$4,073
• Taxable income: $5,803
• Est. tax owed @ 24.0%: −$1,393
• After-tax cash flow: $6,294/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

Average 55/100 Cosmetic rehab

This 3-bedroom, 2-bath manufactured home in a mobile home park is in average condition with cosmetic repairs needed. Updates to paint, siding, and interior finishes would significantly enhance its resale and rental value.

Repairs flagged

• Minor Exterior siding — Weathered appearance
• Minor Interior paint — Slightly faded

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace exterior siding — New siding improves curb appeal and structural integrity
• Both Update kitchen countertops — Modern countertops increase resale value and functionality
• Both Update bathrooms — Modern bathrooms with updated fixtures and finishes
• Both Landscaping improvements — Enhanced landscaping increases curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Weathered appearance	Minor	$500–3,000
Interior paint · Slightly faded	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace exterior siding — New siding improves curb appeal and structural integrity ↑
• Both Update kitchen countertops — Modern countertops increase resale value and functionality ↑
• Both Update bathrooms — Modern bathrooms with updated fixtures and finishes ↑
• Both Landscaping improvements — Enhanced landscaping increases curb appeal and property 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

+508.7% since first listed

12 events — show timeline

• 2025-10-29 Relisted — CRMLS
• 2025-10-09 Listed $140,000 CRMLS
• 2023-10-09 Listing Removed — CRMLS
• 2023-07-28 Relisted — CRMLS
• 2023-07-25 Relisted — CRMLS
• 2023-06-17 Relisted — CRMLS
• 2023-06-15 Relisted — CRMLS
• 2023-04-12 Listed $140,000 CRMLS
• 2021-01-04 Listing Removed — CRMLS
• 2020-10-05 Listed $65,000 CRMLS
• 2004-06-21 Listing Removed — CRMLS
• 2004-02-21 Listed $23,000 CRMLS