1536 S State St Unit 218 B · Hemet, CA 92543

$238,000

3 bd · 2.0 ba · 1,432 sqft · Manufactured public records · 59 Days on market

Built 1989 23 ac lot $166/sqft · 40% above area Est $196k · 21% over

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Why this score? — see what drove the D 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 +20.1/30.0
• DSCR +6.4/10.0
• 1% rule +4.0/10.0
• Rent growth +2.9/5.0
• 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

Pride of ownership at its Highest level !!!!. .. .Beautiful TRIPLE WIDE mobile home in a quiet Cul-de-Sac lot at Saddleback. Great views to mountains and to the valley from every angle of this beautiful property. . This is an ALL AGE, gated and FAMILY friendly mobile home park. This mobile home features three bedrooms and two baths with very well kept, over 1600 sqft of living space. As you enter into this property a spacious living room with hardwood flooring, high ceilings and an strategically located cozy fireplace will welcome you. To the right, a gorgeous chef's kitchen is located. It displays, beautiful counter tops, earth tone backsplash, lots of cabinetry for storage and it is open to the dining room with great views and plenty of natural lighting. Perfect to enjoy nature while enjoying a cup of coffee!. Master bedroom is very spacious. Dual sinks in master bathroom, walk-in shower and a separate tub are there for you to enjoy as well. All rooms are spacious. In the outside, a separate two car garage, storage shed, lost of green vegetation including bushes flowers and nicely landscaped all around it. This community is located within walking distance to schools, shopping centers, grocery stores, DMV, banks and for commuters quick access to Domenigoni Pkwy. Amenities offered include a recently renovated gated pool and spa, a recently added play ground, billiard room, basketball court, a library, RV and boat storage. There are too many good things about this property to cover them all. .. come on by, take a look and make it yours!!!

Key facts

• Cul-de-sac lot
• Hardwood flooring
• Dual sinks

Tags

• TRIPLE WIDE MOBILE HOME
• CUL-DE-SAC LOT
• GATED MOBILE HOME PARK
• CHEF'S KITCHEN
• HARDWOOD FLOORING
• DUAL SINKS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $238k.

Deal economics

• At list price, monthly cash flow is $295 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $215k (9.8% below list).
• Recommended offer: $215k (9.8% below list) — sets the bar for 1% rule.
• Cap rate 7.8% 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; 21 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).
• At $2,146/mo this rent would consume 52% 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 $2k of loan paydown is wiped out by about $7k 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 59 days — a 3% lower offer ($231k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y 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 $85k; list at $238k implies a 180% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $214,566 (9.8% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.90% ✗
• Cap rate: 7.78%
• Cash-on-cash: 5.32%
• DSCR: 1.24
• GRM: 9.2

CMA / ARV

• ARV (median comp): $195,958
• List price: $238,000
• Delta: 21.45%
• Verdict: OVERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1536 S state St #147	0.06mi	3/2.0	1,500 (+5%)	11mo	$175,000	$117	80
1536 S State St #28	0.06mi	3/2.0	1,344 (-6%)	12mo	$198,900	$148	77
1536 S State St #180	0.02mi	3/2.0	1,542 (+8%)	12mo	$200,000	$130	76
601 Bermuda	0.50mi	3/2.0	1,440 (+1%)	0mo	$300,000	$208	75
1536 S State St #185	0.06mi	2/2.0 (-1)	1,344 (-6%)	10mo	$140,000	$104	74
1536 S State St #219	0.09mi	2/2.0 (-1)	1,248 (-13%)	0mo	$135,000	$108	69
725 W Thornton Ave #109	0.60mi	2/2.0 (-1)	1,440 (+1%)	2mo	$23,900	$17	65
1536 S State St #80	0.12mi	3/2.0	1,232 (-14%)	10mo	$203,900	$166	62
1455 S State St #200	0.47mi	2/2.0 (-1)	1,440 (+1%)	13mo	$72,500	$50	62
725 W Thornton Ave #35	0.59mi	2/2.0 (-1)	1,440 (+1%)	6mo	$77,500	$54	61
725 Thornton #124	0.74mi	2/2.0 (-1)	1,344 (-6%)	14mo	$48,000	$36	38
725 W Thornton Ave #14	0.64mi	2/2.0 (-1)	1,248 (-13%)	11mo	$68,000	$54	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 · 1.76% rent growth · sell at horizon

5-year hold

• IRR: -9.3%
• Equity multiple: 0.66×
• Total profit: $-22,511
• Equity at exit: $35,487

10-year hold

• IRR: -1.5%
• Equity multiple: 0.90×
• Total profit: $-6,435
• Equity at exit: $20,578

Cash invested: $66,640 (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: 9.2×

Monthly cashflow live

• Estimated rent: $2,146 high
• Mortgage (P&I): −$1,248
• Tax from tax record: −$52 /mo · $628/yr
• Insurance: −$99
• HOA: −$0
• Vacancy / Maint / Mgmt: −$451
• Net cashflow: $295

Break-even live

Break-even rent $1,772

Max offer price $238,000

Occupancy floor 81%

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: $59,500
• Closing costs: $7,140
• Reserves months: —
• Total cash needed: —

Rent comps 21 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	0.26mi
640 Vista del Monte Hemet, CA	3.0	2.0	1480	$2,650	$1.79	44d	1	0.60mi
390 Magnolia Cir Hemet, CA	2.0	2.0	1038	$2,400	$2.31	4d	1	0.61mi
795 Cameo Ave Hemet, CA	4.0	2.0	1600	$2,900	$1.81	15d	1	0.75mi
678 Monterey Pl Hemet, CA	2.0	2.0	1047	$1,995	$1.91	44d	1	0.75mi
1025 S Gilbert St Hemet, CA	1.0–2.0	1.0–2.0	890	$2,320	$2.61	2d	8	0.87mi
1005 S Gilbert St Hemet, CA	2.0	1.5	975	$1,825	$1.87	24d	2	0.91mi
860 Douglas Ct Hemet, CA	2.0	2.0	1114	$1,850	$1.66	18d	1	0.95mi
700 Johnston Ave Unit 708 Hemet, CA	2.0	1.0	1000	$1,600	$1.60	8d	1	0.95mi
853 Douglas Ct Hemet, CA	2.0	2.0	1148	$1,850	$1.61	4d	1	0.96mi
716 Robert Dr Hemet, CA	3.0	2.0	1450	$2,300	$1.59	5d	1	1.13mi
735 S Gilbert St Hemet, CA	3.0	2.0	1202	$2,400	$2.00	44d	1	1.18mi
733 S San Jacinto St Unit B Hemet, CA	2.0	1.0	1000	$1,500	$1.50	24d	1	1.21mi
876 W Whittier Ave Unit 878 Hemet, CA	2.0	2.0	1127	$2,150	$1.91	24d	1	1.32mi
26450 San Jacinto St Hemet, CA	3.0	2.0	1250	$2,295	$1.84	3d	1	1.34mi
1287 Olive Tree Ln Unit C Hemet, CA	2.0	1.0	995	$1,495	$1.50	24d	1	1.36mi
1287 Olive Tree Ln Unit D Hemet, CA	2.0	1.0	995	$1,599	$1.61	44d	1	1.36mi
26416 S San Jacinto St Unit 26416 Hemet, CA	2.0	1.0	900	$1,675	$1.86	24d	1	1.38mi
120 Santa Lucia Dr Hemet, CA	2.0	2.0	1197	$1,600	$1.34	44d	1	1.39mi
101 San Mateo Cir Hemet, CA	2.0	2.0	1152	$1,725	$1.50	17d	1	1.41mi
611 S Palm Ave Unit K Hemet, CA	2.0	2.0	1254	$1,895	$1.51	8d	1	1.46mi

Listing history 19 events

1. 2026-06-18
   days on market $238,000 Active 59 DOM
2. 2026-06-17
   days on market $238,000 Active 58 DOM
3. 2026-06-16
   days on market $238,000 Active 57 DOM
4. 2026-06-15
   days on market $238,000 Active 56 DOM
5. 2026-06-13
   days on market $238,000 Active 54 DOM
6. 2026-06-09
   days on market $238,000 Active 50 DOM
7. 2026-06-08
   days on market $238,000 Active 49 DOM
8. 2026-06-07
   days on market $238,000 Active 48 DOM
9. 2026-06-04
   days on market $238,000 Active 45 DOM
10. 2026-06-03
    days on market $238,000 Active 44 DOM
11. 2026-06-02
    days on market $238,000 Active 43 DOM
12. 2026-06-01
    days on market $238,000 Active 42 DOM
13. 2026-05-31
    days on market $238,000 Active 41 DOM
14. 2026-04-20
    listed $239,500 Active 1564-char remark

    Show marketing remark (1564 chars)

    Pride of ownership at its Highest level !!!!. .. .Beautiful TRIPLE WIDE mobile home in a quiet Cul-de-Sac lot at Saddleback. Great views to mountains and to the valley from every angle of this beautiful property. . This is an ALL AGE, gated and FAMILY friendly mobile home park. This mobile home features three bedrooms and two baths with very well kept, over 1600 sqft of living space. As you enter into this property a spacious living room with hardwood flooring, high ceilings and an strategically located cozy fireplace will welcome you. To the right, a gorgeous chef's kitchen is located. It displays, beautiful counter tops, earth tone backsplash, lots of cabinetry for storage and it is open to the dining room with great views and plenty of natural lighting. Perfect to enjoy nature while enjoying a cup of coffee!. Master bedroom is very spacious. Dual sinks in master bathroom, walk-in shower and a separate tub are there for you to enjoy as well. All rooms are spacious. In the outside, a separate two car garage, storage shed, lost of green vegetation including bushes flowers and nicely landscaped all around it. This community is located within walking distance to schools, shopping centers, grocery stores, DMV, banks and for commuters quick access to Domenigoni Pkwy. Amenities offered include a recently renovated gated pool and spa, a recently added play ground, billiard room, basketball court, a library, RV and boat storage. There are too many good things about this property to cover them all. .. come on by, take a look and make it yours!!!

15. 2025-08-20
    historical
16. 2025-07-17
    listed $259,999 Active
17. 2020-07-10
    soldstatus $85,000 Closed Sale
18. 2020-04-17
    status Pending Sale
19. 2020-03-25
    listed $103,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $628 · $52/mo
• Projected year-2 tax: $1,809 · $151/mo
• Expected delta: +$1,181/yr (+$98/mo · 188.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 · 17 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: $25,748
• − Mortgage interest: −$13,332
• − Property taxes: −$628
• − Insurance: −$1,190
• − Repairs & maintenance: −$2,060
• − Management: −$2,060
• − Depreciation: −$6,924
• Taxable loss: −$445
• Est. tax savings @ 24.0%: +$107
• After-tax cash flow: $3,652/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): 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

+132.5% since first listed

6 events — show timeline

• 2026-04-20 Listed $239,500 CRMLS
• 2025-08-20 Listing Removed — CRMLS
• 2025-07-17 Listed $259,999 CRMLS
• 2020-07-10 Sold (MLS) $85,000 CRMLS
• 2020-04-17 Pending — CRMLS
• 2020-03-25 Listed $103,000 CRMLS

Property tax history

+1.1%/yr

Latest (2025): $628 · +2.0% YoY. Source: county tax records.