5001 W Florida #208 · Hemet, CA 92545

$129,000

2 bd · 2.0 ba · 1,440 sqft · Manufactured public records · 220 Days on market

Built 1971 $90/sqft · 83% above area

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Why this score? — see what drove the B- 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
• ARV discount +7.5/15.0
• Rent growth +3.4/5.0
• Livability +2.6/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 5001 W Florida Ave #208, nestled in the beautiful 55+ resort-style community of The Lakes at Hemet West. This charming 2-bed, 2-bath home offers 1,440 sq ft of open living space with beamed ceilings, tile flooring, and a bright kitchen with all appliances included. Enjoy the spacious primary suite with dual vanities, a soaking tub, and a walk-in shower, plus a private deck overlooking a serene lake. Encompassed by 150 acres of natural beauty, The Lakes at Hemet West offers unmatched amenities—featuring a 9-hole golf course, heated pool and spa, clubhouse with fitness center, library, and game rooms, plus pickleball, bocce, and walking trails. Don't miss this amazing opportunity to experience peaceful, active living at its best in this vibrant gated community!

Key facts

• Library
• 9-hole golf course
• Heated pool and spa

Tags

• PRIVATE DECK OVERLOOKING LAKE
• 9-HOLE GOLF COURSE
• HEATED POOL AND SPA
• CLUBHOUSE WITH FITNESS CENTER
• LIBRARY
• GAME ROOMS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $129k.

Deal economics

• At list price, monthly cash flow is $737 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $129k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.1% 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; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 39% 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 $892 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 + 3.7% rent growth), your $36k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 220 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 12y ago; this cycle's ask has dropped $20k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $48k; list at $129k implies a 169% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 3→9/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $113,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 220 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 1971 — 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: 1.60% ✓
• Cap rate: 13.15%
• Cash-on-cash: 24.49%
• DSCR: 2.09
• GRM: 5.2

CMA / ARV

• ARV (median comp): $70,468
• List price: $129,000
• Delta: 83.06%
• 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
5001 W Florida #171	0.00mi	2/2.0	1,440 (0%)	1mo	$67,000	$47	99
5001 FLORIDA #311	0.00mi	2/2.0	1,440 (0%)	1mo	$73,990	$51	99
5001 W Florida Ave #305	0.00mi	2/2.0	1,440 (0%)	2mo	$91,000	$63	98
5001 W Florida #661	0.00mi	2/2.0	1,440 (0%)	3mo	$97,000	$67	98
5001 W Florida Ave #482	0.00mi	2/2.0	1,440 (0%)	4mo	$55,000	$38	97
5001 W Florida #524	0.00mi	2/2.0	1,488 (+3%)	3mo	$62,000	$42	92
5001 W Florida #618	0.00mi	2/2.0	1,344 (-7%)	4mo	$70,000	$52	86
5001 W Florida Ave W #728	0.00mi	2/2.0	1,344 (-7%)	4mo	$56,000	$42	86
5001 W Florida Ave #135	0.10mi	2/2.0	1,504 (+4%)	5mo	$55,000	$37	83
5001 W Florida Ave #139	0.00mi	2/2.0	1,560 (+8%)	5mo	$105,000	$67	82
5001 W Florida Ave #122	0.10mi	2/2.0	1,296 (-10%)	0mo	$52,500	$41	78
5001 W Florida #695	0.10mi	2/2.0	1,248 (-13%)	5mo	$45,000	$36	69

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: 18.7%
• Equity multiple: 1.76×
• Total profit: $27,615
• Equity at exit: $19,234

10-year hold

• IRR: 27.6%
• Equity multiple: 3.52×
• Total profit: $91,058
• Equity at exit: $11,154

Cash invested: $36,120 (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: 5.2×

Monthly cashflow live

• Estimated rent: $2,061 high
• Mortgage (P&I): −$676
• Tax est. 1.5%: −$161 /mo · $1,935/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$433
• Net cashflow: $737

Break-even live

Break-even rent $1,128

Max offer price $129,000

Occupancy floor 59%

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4400 W Florida Ave Spc 26 Hemet, CA	3.0	2.0	1193	$1,699	$1.42	14d	1	0.51mi
4400 W Florida Ave Unit 86 Hemet, CA	3.0	2.0	1310	$1,800	$1.37	43d	1	0.54mi
3800 W Devonshire Ave Hemet, CA	3.0	1.0–2.0	816	$2,055	$2.52	1d	8	1.07mi
3030 W Acacia Ave Hemet, CA	1.0–3.0	1.0–2.0	892	$1,895	$2.12	1d	10	1.25mi
2971 Pembroke Ave Hemet, CA	3.0	2.0	1572	$3,000	$1.91	18d	1	1.29mi
3471 Dublin Ct Hemet, CA	3.0	2.0	1276	$2,895	$2.27	3d	1	1.39mi

Listing history 50 events

1. 2026-06-16
   days on market $129,000 Active 220 DOM
2. 2026-06-15
   days on market $129,000 Active 219 DOM
3. 2026-06-13
   days on market $129,000 Active 217 DOM
4. 2026-06-09
   days on market $129,000 Active 213 DOM
5. 2026-06-08
   days on market $129,000 Active 212 DOM
6. 2026-06-07
   days on market $129,000 Active 211 DOM
7. 2026-06-04
   days on market $129,000 Active 208 DOM
8. 2026-06-03
   days on market $129,000 Active 207 DOM
9. 2026-06-02
   days on market $129,000 Active 206 DOM
10. 2026-06-01
    days on market $129,000 Active 205 DOM
11. 2026-05-31
    days on market $129,000 Active 204 DOM
12. 2026-04-21
    price $129,000 786-char remark

    Show marketing remark (786 chars)

    Welcome to 5001 W Florida Ave #208, nestled in the beautiful 55+ resort-style community of The Lakes at Hemet West. This charming 2-bed, 2-bath home offers 1,440 sq ft of open living space with beamed ceilings, tile flooring, and a bright kitchen with all appliances included. Enjoy the spacious primary suite with dual vanities, a soaking tub, and a walk-in shower, plus a private deck overlooking a serene lake. Encompassed by 150 acres of natural beauty, The Lakes at Hemet West offers unmatched amenities—featuring a 9-hole golf course, heated pool and spa, clubhouse with fitness center, library, and game rooms, plus pickleball, bocce, and walking trails. Don't miss this amazing opportunity to experience peaceful, active living at its best in this vibrant gated community!

13. 2025-12-02
    price $139,000 786-char remark

    Show marketing remark (786 chars)

    Welcome to 5001 W Florida Ave #208, nestled in the beautiful 55+ resort-style community of The Lakes at Hemet West. This charming 2-bed, 2-bath home offers 1,440 sq ft of open living space with beamed ceilings, tile flooring, and a bright kitchen with all appliances included. Enjoy the spacious primary suite with dual vanities, a soaking tub, and a walk-in shower, plus a private deck overlooking a serene lake. Encompassed by 150 acres of natural beauty, The Lakes at Hemet West offers unmatched amenities—featuring a 9-hole golf course, heated pool and spa, clubhouse with fitness center, library, and game rooms, plus pickleball, bocce, and walking trails. Don't miss this amazing opportunity to experience peaceful, active living at its best in this vibrant gated community!

14. 2025-11-08
    listed $149,000 Active 786-char remark

    Show marketing remark (786 chars)

    Welcome to 5001 W Florida Ave #208, nestled in the beautiful 55+ resort-style community of The Lakes at Hemet West. This charming 2-bed, 2-bath home offers 1,440 sq ft of open living space with beamed ceilings, tile flooring, and a bright kitchen with all appliances included. Enjoy the spacious primary suite with dual vanities, a soaking tub, and a walk-in shower, plus a private deck overlooking a serene lake. Encompassed by 150 acres of natural beauty, The Lakes at Hemet West offers unmatched amenities—featuring a 9-hole golf course, heated pool and spa, clubhouse with fitness center, library, and game rooms, plus pickleball, bocce, and walking trails. Don't miss this amazing opportunity to experience peaceful, active living at its best in this vibrant gated community!

15. 2024-11-09
    historical
16. 2024-04-30
    listed $149,000 Active
17. 2024-04-29
    historical
18. 2024-02-09
    status Active
19. 2023-12-28
    price $149,000
20. 2023-08-15
    price $154,000
21. 2023-05-13
    status Active
22. 2023-05-10
    listed $159,000 Active
23. 2023-05-10
    historical
24. 2021-06-25
    soldstatus $48,000 Closed Sale
25. 2021-05-29
    historical Active Under Contract
26. 2021-04-30
    price $53,000
27. 2021-02-26
    listed $59,000 Active
28. 2020-09-25
    historical
29. 2020-09-18
    status Active
30. 2020-08-24
    price $51,000
31. 2020-08-10
    price $53,000
32. 2020-07-28
    price $50,999
33. 2020-07-15
    price $51,499
34. 2020-07-02
    price $51,999
35. 2020-06-25
    price $52,500
36. 2020-02-25
    listed $53,000 Active
37. 2019-12-31
    historical
38. 2019-09-27
    listed $40,900 Active
39. 2018-09-24
    historical
40. 2018-09-15
    status Active
41. 2018-09-14
    historical Hold Do Not Show
42. 2018-09-10
    status Active
43. 2018-09-09
    historical Hold Do Not Show
44. 2018-08-09
    price $38,000
45. 2018-07-31
    price $41,999
46. 2018-07-18
    listed $42,000 Active
47. 2018-07-17
    historical
48. 2018-07-12
    price $29,900
49. 2018-06-29
    price $35,000
50. 2018-04-27
    listed $73,500 Active

ⓘ 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 3 d/yr ≥105°F today · 9 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: $24,737
• − Mortgage interest: −$7,226
• − Property taxes: −$1,935
• − Insurance: −$645
• − Repairs & maintenance: −$1,979
• − Management: −$1,979
• − Depreciation: −$3,753
• Taxable income: $7,220
• Est. tax owed @ 24.0%: −$1,733
• After-tax cash flow: $7,111/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

+426.5% since first listed

43 events — show timeline

• 2026-04-21 Price Changed $129,000 CRMLS
• 2025-12-02 Price Changed $139,000 CRMLS
• 2025-11-08 Listed $149,000 CRMLS
• 2024-11-09 Listing Removed — CRMLS
• 2024-04-30 Listed $149,000 CRMLS
• 2024-04-29 Listing Removed — CRMLS
• 2024-02-09 Relisted — CRMLS
• 2023-12-28 Price Changed $149,000 CRMLS
• 2023-08-15 Price Changed $154,000 CRMLS
• 2023-05-13 Relisted — CRMLS
• 2023-05-10 Listed $159,000 CRMLS
• 2023-05-10 Coming Soon — CRMLS
• 2021-06-25 Sold (MLS) $48,000 CRMLS
• 2021-05-29 Contingent — CRMLS
• 2021-04-30 Price Changed $53,000 CRMLS
• 2021-02-26 Listed $59,000 CRMLS
• 2020-09-25 Listing Removed — CRMLS
• 2020-09-18 Relisted — CRMLS
• 2020-08-24 Price Changed $51,000 CRMLS
• 2020-08-10 Price Changed $53,000 CRMLS
• 2020-07-28 Price Changed $50,999 CRMLS
• 2020-07-15 Price Changed $51,499 CRMLS
• 2020-07-02 Price Changed $51,999 CRMLS
• 2020-06-25 Price Changed $52,500 CRMLS
• 2020-02-25 Listed $53,000 CRMLS
• 2019-12-31 Listing Removed — CRMLS
• 2019-09-27 Listed $40,900 CRMLS
• 2018-09-24 Listing Removed — CRMLS
• 2018-09-15 Relisted — CRMLS
• 2018-09-14 Delisted — CRMLS
• 2018-09-10 Relisted — CRMLS
• 2018-09-09 Delisted — CRMLS
• 2018-08-09 Price Changed $38,000 CRMLS
• 2018-07-31 Price Changed $41,999 CRMLS
• 2018-07-18 Listed $42,000 CRMLS
• 2018-07-17 Listing Removed — CRMLS
• 2018-07-12 Price Changed $29,900 CRMLS
• 2018-06-29 Price Changed $35,000 CRMLS
• 2018-04-27 Listed $73,500 CRMLS
• 2014-11-12 Listing Removed — CRMLS
• 2014-09-13 Listed $24,365 CRMLS
• 2014-07-23 Listing Removed — CRMLS
• 2014-06-19 Listed $24,500 CRMLS

Property tax history

+1.5%/yr

Latest (2025): $105 · +3.5% YoY. Source: county tax records.