4400 W Florida Ave #271 · Hemet, CA 92545

$52,000

2 bd · 2.0 ba · 1,100 sqft · Manufactured · 12 Days on market

Built 1964 Good condition $47/sqft · 13% below area Est $60k · 13% under ↓ 5% since listing

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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
• ARV discount +13.2/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Condition / age +3.8/5.0
• Rent growth +3.4/5.0
• Livability +2.6/5.0
• Schools +2.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome! to this great 55+ community of Royal Holiday! This charming home offers comfortable senior living in a well-maintained community conveniently located near shopping, dining, and everyday conveniences. Enjoy an inviting floorplan with abundant natural light, spacious living areas, and a functional layout designed for easy living. The kitchen offers ample cabinet and counter space with an adjacent dining area perfect for everyday meals or entertaining guests. The primary bedroom provides a relaxing retreat with generous closet space and an a bathroom, while the secondary bedroom offers flexibility for guests, or office use. Additional highlights may include inside laundry space , cov

Key facts

• Adjacent dining area
• Inviting floorplan
• Functional layout

Tags

• INVITING FLOORPLAN
• ABUNDANT NATURAL LIGHT
• SPACIOUS LIVING AREAS
• FUNCTIONAL LAYOUT
• ADJACENT DINING AREA
• GENEROUS CLOSET SPACE

Property features AI

Finance

• Other: Park name: ROYAL HOLIDAY
• Financial info: Land lease of $800 per month (park-managed); buyer to verify assessments
• HOA & community: Senior community; Manager approval may be required

Exterior

• Parking: Located in the ROYAL HOLIDAY park
• Utilities: Public sewer; District/Public water
• Home design: Single-story property; Entry on street level; Mobile home remains on site
• Construction: Year built: source listed as Other; Living area source listed as Other; Double-body type (multi-unit/mobile home)
• Exterior features: Covered patio; Community pool; Lot is level/flat; Paved road access; Street lighting in the community

Interior

• Bathrooms: 2 full bathrooms
• Interior features: Street-level entry
• Laundry & utility: Inside laundry with washer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $52k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $52k).
• Cap rate 32.3% 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+, 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); 291 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).
• This rent runs 35% 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 $360 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 $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $52,000

Questions for the listing agent

1. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
6. 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.
7. 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: 3.61% ✓
• Cap rate: 32.26%
• Cash-on-cash: 92.75%
• DSCR: 5.13
• GRM: 2.3

CMA / ARV

• ARV (median comp): $59,591
• List price: $52,000
• Delta: -12.74%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4400 W Florida #215	0.03mi	2/2.0	1,076 (-2%)	2mo	$70,000	$65	93
4400 W FLORIDA Ave #254	0.03mi	2/2.0	1,152 (+5%)	9mo	$88,000	$76	83
5001 W Florida #476	0.57mi	2/2.0	1,120 (+2%)	2mo	$45,000	$40	68
5001 W Florida Ave #230	0.57mi	2/2.0	1,152 (+5%)	6mo	$45,000	$39	60
5001 W Florida #695	0.51mi	2/2.0	1,248 (+14%)	5mo	$45,000	$36	50
5001 W Florida Ave #665	0.57mi	2/2.0	1,248 (+14%)	7mo	$40,000	$32	45
5001 Florida Ave #663	0.57mi	2/2.0	1,243 (+13%)	10mo	$74,900	$60	44
5001 W Florida Ave #545	0.57mi	2/2.0	1,248 (+14%)	9mo	$45,000	$36	43
5001 W Florida Ave #723	0.57mi	2/2.0	1,248 (+14%)	10mo	$42,000	$34	43
5001 W Florida Ave #211	0.51mi	2/2.0	947 (-14%)	13mo	$90,000	$95	42
5001 W Florida Ave #175	0.57mi	3/2.0 (+1)	1,248 (+14%)	6mo	$90,000	$72	41
5001 W Florida Ave #22	0.50mi	3/2.0 (+1)	1,248 (+14%)	13mo	$95,000	$76	39

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: 94.4%
• Equity multiple: 5.44×
• Total profit: $64,684
• Equity at exit: $7,753

10-year hold

• IRR: 97.3%
• Equity multiple: 11.62×
• Total profit: $154,603
• Equity at exit: $4,496

Cash invested: $14,560 (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: 291
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,879 high
• Mortgage (P&I): −$273
• Tax est. 1.5%: −$65 /mo · $780/yr
• Insurance: −$22
• HOA: −$0
• Vacancy / Maint / Mgmt: −$395
• Net cashflow: $1,125

Break-even live

Break-even rent $455

Max offer price $52,000

Occupancy floor 35%

Sensitivity live

Price	-10% $1,161	-5% $1,143	+0% $1,125	+5% $1,107	+10% $1,089
Rent	-10% $977	-5% $1,051	+0% $1,125	+5% $1,200	+10% $1,274
Rate	-1.0pp $1,152	-0.5pp $1,139	base $1,125	+0.5pp $1,112	+1.0pp $1,098

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: $13,000
• Closing costs: $1,560
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4400 W Florida Ave Unit 86 Hemet, CA	3.0	2.0	1310	$1,800	$1.37	45d	1	0.03mi
4400 W Florida Ave Spc 26 Hemet, CA	3.0	2.0	1193	$1,699	$1.42	16d	1	0.03mi
3800 W Devonshire Ave Hemet, CA	3.0	1.0–2.0	816	$2,172	$2.66	0d	7	0.53mi
3471 Dublin Ct Hemet, CA	3.0	2.0	1276	$2,895	$2.27	5d	1	0.85mi
3030 W Acacia Ave Hemet, CA	1.0–2.0	1.0–2.0	807	$1,780	$2.20	0d	8	0.87mi
2770 W Devonshire Ave Hemet, CA	1.0–2.0	1.0–2.0	707	$1,945	$2.75	0d	10	1.11mi
2469 W Acacia Ave Hemet, CA	2.0	2.0	910	$1,750	$1.92	25d	1	1.22mi
743 Via Linda Dr Hemet, CA	2.0	2.0	1206	$1,995	$1.65	6d	1	1.22mi
2403 W Acacia Ave Hemet, CA	2.0	2.0	910	$1,995	$2.19	9d	1	1.24mi
683 Jonquil St Hemet, CA	3.0	2.0	1150	$2,448	$2.13	25d	1	1.33mi
811 Alondra Dr Hemet, CA	2.0	2.0	1166	$1,875	$1.61	6d	1	1.39mi
2269 San Bernardo Ave Hemet, CA	2.0	1.0	827	$1,650	$2.00	45d	1	1.41mi
2098 W Acacia Ave Hemet, CA	1.0–3.0	1.0–2.0	895	$2,035	$2.27	0d	1	1.43mi
853 Ensenada Dr Hemet, CA	2.0	2.0	1350	$1,875	$1.39	25d	1	1.45mi
853 Ensenada Dr Hemet, CA	2.0	2.0	1350	$1,875	$1.39	13d	1	1.45mi
2422 San Padre Ct Hemet, CA	2.0	1.0	827	$1,800	$2.18	25d	1	1.45mi
2488 San Padre Ct Hemet, CA	2.0	1.0	827	$1,599	$1.93	0d	1	1.45mi
2488 San Padre Ct Hemet, CA	2.0	1.0	827	$1,599	$1.93	15d	1	1.45mi
341 Calle Nogales Hemet, CA	2.0	1.0	827	$1,395	$1.69	45d	1	1.47mi

Listing history 18 events

1. 2026-06-21
   days on market $52,000 Active 12 DOM
2. 2026-06-18
   days on market $52,000 Active 9 DOM
3. 2026-06-17
   days on market $52,000 Active 8 DOM
4. 2026-06-16
   days on market $52,000 Active 7 DOM
5. 2026-06-15
   days on market $52,000 Active 6 DOM
6. 2026-06-13
   days on market $52,000 Active 4 DOM
7. 2026-06-10
   remarks 699-char remark
8. 2026-06-10
   days on marketlisting id $52,000 Active 1 DOM
9. 2026-06-08
   days on market $52,000 Active 145 DOM
10. 2026-06-07
    days on market $52,000 Active 144 DOM
11. 2026-06-04
    days on market $52,000 Active 141 DOM
12. 2026-06-03
    days on market $52,000 Active 140 DOM
13. 2026-06-02
    days on market $52,000 Active 139 DOM
14. 2026-06-01
    days on market $52,000 Active 138 DOM
15. 2026-05-31
    days on market $52,000 Active 137 DOM
16. 2026-03-18
    price $52,000 860-char remark
17. 2026-01-14
    listed $55,000 Active 860-char remark
18. 2026-01-12
    historical $55,000 860-char remark

ⓘ 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 7 d/yr ≥105°F today · 19 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: $22,552
• − Mortgage interest: −$2,913
• − Property taxes: −$780
• − Insurance: −$260
• − Repairs & maintenance: −$1,804
• − Management: −$1,804
• − Depreciation: −$1,513
• Taxable income: $13,478
• Est. tax owed @ 24.0%: −$3,235
• After-tax cash flow: $10,269/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

Good 75/100 Cosmetic rehab

This home is in good condition with a fresh coat of paint and a new roof, but could benefit from updating the kitchen and bathroom to increase its resale value.

Repairs flagged

• Minor kitchen cabinets — dated design
• Minor bathroom fixtures — dated design
• Minor kitchen flooring — dated tile

Value-add opportunities

• Resale update kitchen cabinets and flooring — modernizing the kitchen
• Resale update bathroom fixtures — modernizing the bathroom
• Both paint exterior — enhances curb appeal and resale value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated design	Minor	$500–3,000
bathroom fixtures · dated design	Minor	$500–3,000
kitchen flooring · dated tile	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Resale update kitchen cabinets and flooring — modernizing the kitchen ↑
• Resale update bathroom fixtures — modernizing the bathroom ↑
• Both paint exterior — enhances curb appeal and resale 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): 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

-5.5% since first listed

5 events — show timeline

• 2026-06-09 Listed $52,000 CRMLS
• 2026-06-08 Listing Removed — CRMLS
• 2026-03-18 Price Changed $52,000 CRMLS
• 2026-01-14 Listed $55,000 CRMLS
• 2026-01-12 Coming Soon — CRMLS