331 N Thompson, Hemet, California 92543, Hemet, 92543 - 3 bed, 2 bath
Loading property details...
Hemet, California 92543
This Renovated Craftsman represents a High-Potential Investment Opportunity, listed at $469,000—positioned well below the $485,947 Fair Market Value by 3%. This valuation gap offers $16,947 in Instant Equity. Featuring an Excellent Condition Rating and a 400 sqft detached ADU, the property provides immediate rental income potential or flexible multi-generational living. With over $133,000 in recent upgrades, this move-in ready asset is ideal for Buy-and-Hold Investors or Owner-Occupants seeking a turnkey property with significant long-term utility.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 331 N Thompson Subject | $468,999* List Price | 3 | 2 | 1,576 | $298 | - |
A 140 S Thompson Street Sold | $449,900 | 3 | 2 | 1,349 | $334 | 0.4 mi |
B 345 Eisenhower Court Sold | $500,000 | 3 | 3 | 1,597 | $313 | 0.7 mi |
C 869 Fillmore Court Sold | $500,000 | 3 | 3 | 1,597 | $313 | 0.9 mi |
D 468 Bristolwood Sold | $500,000 | 3 | 2 | 1,935 | $258 | 1.0 mi |
E 452 S Harvard Sold | $384,000 | 2 | 2 | 1,081 | $355 | 0.8 mi |
F 731 Buchanan Street Sold | $453,000 | 4 | 2 | 1,414 | $320 | 0.9 mi |
G 310 N Western Active | $589,950 List Price | 3 | 2 | 1,762 | $335 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
The property has undergone an extensive $133,000 restoration within the last 5 years, featuring a modern kitchen with quartz countertops, remodeled bathrooms, and new appliances. Critical systems including plumbing, electrical, and the roof have been updated, and the inclusion of a renovated ADU and new dual-pane windows makes it move-in ready in mint condition.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 9583, living area = 1576.
The property features a detached 400 sqft ADU with its own kitchen and bathroom, offering significant potential for rental income, a private home office, or multi-generational living.
With over $133,000 invested in renovations, including new plumbing, electrical, roof improvements, and dual-pane windows, this 1925 home combines historic charm with modern reliability.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1576, other record living area = 1176.
The property was recently sold within the past year on 2026-03-04. The sold price is $243,000.00.
The main residence offers only 2 bedrooms and 1 bathroom, which may limit its appeal to larger families or buyers requiring a dedicated primary suite.
2 Units for a great price! Step into the timeless charm of this beautifully restored 1925 Craftsman situated on a spacious lot in the heart of Hemet. Blending classic character with extensive modern upgrades, this move-in ready property offers the perfect combination of historic appeal and today’s conveniences. The main residence welcomes you with a bright, open living space, luxury vinyl plank flooring, fresh interior and exterior paint, new dual-pane windows, an updated kitchen with quartz countertops, new appliances, remodeled bathroom, new carpet in the bedrooms, updated lighting, and countless improvements throughout. A standout feature is the detached ADU, offering approximately 400 square feet complete with its own kitchen, living area and bathroom—ideal for multigenerational living, guests, a private office, or rental income potential. Outside, the expansive lot provides ample room for parking, entertaining, and future possibilities. The property also features a detached two-car garage, covered carport, fresh rock landscaping for low-maintenance living, and gated access. With more than $133,000 invested in renovations, including updated plumbing, electrical, windows, flooring, fixtures, roof improvements, landscaping, and much more, this is a rare opportunity to own a thoughtfully restored Craftsman with an income-producing or multi-generational ADU—all offered at just $469,000.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,576 | 1,544 |
| Lot Size | 9,583 | 6,970 |
| Price | $469.0K | $446.9K |
| Price per sq ft | $298 | $263 |
| Built year | 1925 | 1988 |
| HOA | $0 | $130 |
| Days on market | 16 | 65 |
Jul 18, 2026
$468,999
$469,000
+0% Price Increase
Initial Listing
Jul 6, 2026
$469,000
Initial Listing
Mar 4, 2026
$243,000
Public Record
Jun 19, 2018
$170,000
Public Record