1536 S State St #170 · Hemet, CA 92543

$129,999

2 bd · 2.0 ba · 1,040 sqft · Manufactured public records · 39 Days on market

Built 1987 $125/sqft · at area comps Est $125k · at est.

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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 +5.7/15.0
• Rent growth +2.9/5.0
• Livability +2.6/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this beautiful Turn key fully renovated inside and out move in ready !!!! This 2 bedroom, 2-bath home in a gated, all-age family park! Inside, you’ll find a very rare fireplace, New laminate flooring and brand new carpet New HAVC , ceiling fans , and a spacious kitchen with with a beautiful Subway tile backsplash all new appliances, carport can hold 2-3 cars and a storage shed making this home move-in ready. The community offers fantastic amenities, including a swimming pool, spa, basketball court, barbecues, and playground—fun for all ages! Book your showing today before it’s gone!

Key facts

• Fully renovated
• Rare fireplace
• New havc

Tags

• FULLY RENOVATED
• RARE FIREPLACE
• NEW LAMINATE FLOORING
• SPACIOUS KITCHEN
• SUBWAY TILE BACKSPLASH
• NEW HAVC

Property features AI

Finance

• Other: Directions: When you enter the park off State Street, turn right on first street and follow it around; home will be on the right; Access via city streets
• Financial info: Land lease amount paid monthly
• HOA & community: Land lease (park) with monthly fee of $1,049; Park name: Saddleback; Manager approval required

Exterior

• Parking: Covered carport (attached), 2 parking spaces
• Security: Automatic gate; Smoke detector; Carbon monoxide detector; Resident manager
• Utilities: Public sewer; District/public water
• Home design: Manufactured/mobile home (10' x 52') remains on site; One story; Entry at front door
• Construction: Listed as turnkey; Living area per public records; Year built source: public records
• Exterior features: Covered porch/patio; Covered patio; Community pool; Shed (1); Drip system sprinklers; Paved road access; Valley view

Interior

• Kitchen: Gas cooktop; Gas oven; Dishwasher; Water heater unit; Laminate counters; Kitchen island; Walk-in pantry
• Bedrooms: Primary bedroom
• Flooring: Tile; Laminate
• Bathrooms: Two full bathrooms; Bathtub; Shower in tub; Exhaust fan(s)
• Heating & cooling: Central heating (furnace); Central cooling
• Interior features: Laminate counters; Ceiling fan; Kitchen island; Walk-in pantry; Turnkey condition; One-level home; Front door entry; Community spa; Smoke and carbon monoxide detectors; Automatic gate; Resident manager
• Laundry & utility: Inside laundry room (individual room); Washer/dryer hookups present

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $130k.

Deal economics

• At list price, monthly cash flow is $808 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.8% 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.
• San Jacinto Unified (suburban): math 13% / reading 36% proficiency, ranked #421 of 517 in CA (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+1.8%/yr); 264 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).
• At $1,986/mo this rent would consume 48% 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 $899 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 $36k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.

Recommended offer $126,099 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% 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. 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: 1.53% ✓
• Cap rate: 13.75%
• Cash-on-cash: 26.64%
• DSCR: 2.19
• GRM: 5.5

CMA / ARV

• ARV (median comp): $125,000
• List price: $129,999
• Delta: 4.00%
• Verdict: FAIR
• 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 #49	0.05mi	2/2.0	1,000 (-4%)	12mo	$74,900	$75	81
1455 S State St #275	0.05mi	2/2.0	1,000 (-4%)	18mo	$40,000	$40	76
1536 S State St #234	0.00mi	2/2.0	960 (-8%)	17mo	$98,900	$103	73
1097 N N State St #194	0.37mi	3/2.0 (+1)	1,080 (+4%)	1mo	$125,000	$116	71
1097 N State St #79	0.38mi	2/1.0	1,056 (+2%)	12mo	$102,000	$97	65
999 S Santa Fe Ave #35	0.73mi	2/2.0	1,000 (-4%)	2mo	$119,000	$119	58
999 S Santa Fe Ave #46	0.73mi	2/2.0	1,000 (-4%)	4mo	$55,000	$55	56
999 S Santa Fe Ave #86	0.73mi	2/2.0	960 (-8%)	3mo	$55,000	$57	51
1600 S San Jacinto Ave #121	0.65mi	2/2.0	1,005 (-3%)	19mo	$80,000	$80	48
1600 S San Jacinto Ave #97	0.61mi	3/2.0 (+1)	1,011 (-3%)	16mo	$92,000	$91	48
1097 N State St #544	0.44mi	3/2.0 (+1)	960 (-8%)	18mo	$100,000	$104	46
1600 S San Jacinto S #172	0.61mi	2/2.0	900 (-14%)	19mo	$49,000	$54	33

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: 19.2%
• Equity multiple: 1.77×
• Total profit: $27,901
• Equity at exit: $19,383

10-year hold

• IRR: 26.7%
• Equity multiple: 3.21×
• Total profit: $80,552
• Equity at exit: $11,240

Cash invested: $36,400 (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: 5.5×

Monthly cashflow live

• Estimated rent: $1,986 high
• Mortgage (P&I): −$682
• Tax from tax record: −$25 /mo · $300/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$417
• Net cashflow: $808

Break-even live

Break-even rent $963

Max offer price $129,999

Occupancy floor 54%

Sensitivity live

Price	-10% $882	-5% $845	+0% $808	+5% $771	+10% $735
Rent	-10% $651	-5% $730	+0% $808	+5% $887	+10% $965
Rate	-1.0pp $874	-0.5pp $841	base $808	+0.5pp $774	+1.0pp $740

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1775 S Santa Fe Ave San Jacinto, CA	3.0	2.0	1300	$2,850	$2.19	0d	1	0.52mi
N Santa Fe St GLMN HOT SPGS, CA	2.0–3.0	2.0	1053	$2,350	$2.23	0d	2	0.53mi
1555 S Santa Fe Ave San Jacinto, CA	3.0	2.0	1161	$2,300	$1.98	25d	1	0.54mi
1569 Willowcreek Loop San Jacinto, CA	2.0	1.5	921	$2,100	$2.28	25d	1	0.57mi
429 W 6th St San Jacinto, CA	2.0	1.0	864	$1,600	$1.85	3d	1	0.89mi
740 S Jordan Ave Unit 742 San Jacinto, CA	2.0	1.0	800	$1,650	$2.06	44d	1	1.03mi
526 Greystone Ln Hemet, CA	2.0	1.0	700	$1,600	$2.29	18d	1	1.05mi
526 Greystone Ln Hemet, CA	2.0	1.0	700	$1,600	$2.29	44d	1	1.05mi
526 Greystone Ln Apt 3 Hemet, CA	2.0	1.0	700	$1,650	$2.36	44d	1	1.05mi
289 Brown St San Jacinto, CA	2.0	1.0	1400	$2,300	$1.64	44d	1	1.06mi
646 Greystone Ln Apt 2 Hemet, CA	3.0	1.0	750	$1,500	$2.00	45d	1	1.07mi
1106 Don Carlos Ct San Jacinto, CA	3.0	2.0	1389	$2,999	$2.16	44d	1	1.07mi
1354 Yorktown Cir San Jacinto, CA	2.0	2.0	1106	$2,100	$1.90	44d	1	1.12mi
795 Minor St Unit A San Jacinto, CA	2.0	1.0	878	$1,700	$1.94	25d	1	1.18mi
800 Minor St San Jacinto, CA	2.0	1.0	878	$1,600	$1.82	0d	1	1.20mi
148 N Palomar Ave San Jacinto, CA	2.0	2.0	1368	$1,152	$0.84	25d	1	1.20mi
784 Minor St Unit B San Jacinto, CA	2.0	1.0	878	$1,700	$1.94	25d	1	1.20mi
344 E 6th St San Jacinto, CA	2.0	1.0	900	$1,900	$2.11	25d	1	1.21mi
748 Minor St Apt F San Jacinto, CA	2.0	1.0	878	$1,600	$1.82	44d	1	1.21mi
700 Minor St San Jacinto, CA	2.0	1.0	878	$1,600	$1.82	44d	1	1.23mi
700 Minor St San Jacinto, CA	2.0	1.0	878	$1,700	$1.94	25d	1	1.23mi
663 Mariposa Dr Hemet, CA	2.0	2.0	1440	$1,500	$1.04	25d	1	1.25mi
1700 Walden Ln Hemet, CA	3.0	2.0	1430	$2,670	$1.87	25d	1	1.26mi
419 Angela Way San Jacinto, CA	3.0	1.0	988	$2,150	$2.18	15d	1	1.27mi
910 E Campus Way Unit 910 Hemet, CA	2.0	1.0	940	$1,550	$1.65	44d	1	1.28mi
1118 E Campus Way Hemet, CA	2.0	2.0	900	$2,200	$2.44	25d	1	1.32mi
621 S Mistletoe Ave San Jacinto, CA	2.0	2.0	1500	$2,000	$1.33	44d	1	1.35mi
446 N Elk St Unit D Hemet, CA	2.0	1.0	980	$1,675	$1.71	25d	1	1.37mi
2014 Iris Way Hemet, CA	3.0	2.0	1192	$2,850	$2.39	44d	1	1.38mi
1410 Cottonwood Ave San Jacinto, CA	2.0	1.5	1257	$2,300	$1.83	44d	1	1.40mi
157 W Washburn Ave San Jacinto, CA	2.0	1.0	850	$1,795	$2.11	44d	1	1.41mi
1270 Rosalia Ave Unit 1 Hemet, CA	2.0	1.0	900	$1,800	$2.00	44d	1	1.42mi
2208 El Grande St Hemet, CA	2.0	2.0	1327	$2,100	$1.58	18d	1	1.44mi
2208 El Grande St Hemet, CA	2.0	2.0	1327	$2,000	$1.51	0d	1	1.44mi
1931 Nuevo St Hemet, CA	2.0	1.0	820	$1,600	$1.95	44d	1	1.45mi
1933 Nuevo St Hemet, CA	2.0	1.0	827	$1,700	$2.06	25d	1	1.46mi
165 Tiger Ln San Jacinto, CA	2.0	2.0	1339	$2,150	$1.61	3d	1	1.47mi
627 Solano Dr Hemet, CA	2.0	2.0	882	$1,800	$2.04	19d	1	1.49mi

Listing history 15 events

1. 2026-06-18
   days on market $129,999 Active 39 DOM
2. 2026-06-17
   days on market $129,999 Active 38 DOM
3. 2026-06-16
   days on market $129,999 Active 37 DOM
4. 2026-06-15
   days on market $129,999 Active 36 DOM
5. 2026-06-13
   days on market $129,999 Active 34 DOM
6. 2026-06-13
   days on market $129,999 Active 33 DOM
7. 2026-06-09
   days on market $129,999 Active 30 DOM
8. 2026-06-08
   days on market $129,999 Active 29 DOM
9. 2026-06-07
   days on market $129,999 Active 28 DOM
10. 2026-06-04
    days on market $129,999 Active 25 DOM
11. 2026-06-03
    days on market $129,999 Active 24 DOM
12. 2026-06-02
    days on market $129,999 Active 23 DOM
13. 2026-06-01
    days on market $129,999 Active 22 DOM
14. 2026-05-31
    days on market $129,999 Active 21 DOM
15. 2026-05-09
    listed $129,999 Active 621-char remark

ⓘ 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: $300 · $25/mo
• Projected year-2 tax: $988 · $82/mo
• Expected delta: +$688/yr (+$57/mo · 229.5%)

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

Taxation est. · year 1

• Rental income: $23,833
• − Mortgage interest: −$7,282
• − Property taxes: −$300
• − Insurance: −$650
• − Repairs & maintenance: −$1,907
• − Management: −$1,907
• − Depreciation: −$3,782
• Taxable income: $8,006
• Est. tax owed @ 24.0%: −$1,921
• After-tax cash flow: $7,776/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: San Jacinto Unified
• NCES district ID: 0634440
• Math proficiency: 13% ▼ -9.00%
• Reading proficiency: 36% ▬ 0.00%
• Median HH income: $43,560
• Composite: 20.94/100
• National rank: #8478
• State rank: #421 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

1 event — show timeline

• 2026-05-09 Listed $129,999 CRMLS

Property tax history

+2.3%/yr

Latest (2025): $300 · +2.0% YoY. Source: county tax records.