640 Rainier, Hemet, California 92543, Hemet, 92543 - 2 bed, 2 bath

640 Rainier, Hemet, California 92543 home-pic-0

640 Rainier

Hemet, California 92543

ACTIVE
CONDITION: GOOD
2Beds
2Baths
1,483Sq Ft
6,534Lot Size

Property Price

LIST PRICE$310,000
EST. MARKET VALUE
$335,000
7% BelowMARKET VALUE

SUMMARY

Analysis of 640 Rainier, Hemet, California 92543 reveals a Prime Investment Opportunity with a current list price of $310,000—significantly undercutting the $335,000 Fair Market Value by 7%. This valuation gap indicates a +$25,000 Instant Equity potential for buyers. The property maintains a Good Condition Rating (78/100), reflecting solid structural condition with well-maintained systems. The property presents an attractive opportunity for buyers seeking a move-in ready home. Located in a high-demand neighborhood within the Hemet Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.

Estimated Market Value

$335,000 +$25,000 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in Hemet.

Comparable Sales Map

Comparables within 1 miles sold in recently

Address Sold Price BedsBathsSq Ft$/SqftDistance
640 Rainier
Subject
$310,000*
List Price
221,483$226-
A
1241 Sandlewood Dr
Sold
$310,000221,504$2060.1 mi
B
728 Malibu
Sold
$400,000321,542$2591.0 mi
C
451 Palomar
Sold
$300,000221,480$2030.2 mi
D
410 Panorama Drive
Sold
$279,900221,425$1960.3 mi
E
1181 W Westmont Avenue
Sold
$310,000221,418$2190.1 mi
F
1461 W Mayberry
Sold
$249,900221,044$2390.3 mi
G
1520 Sandlewood Drive
Active
$279,000
List Price
221,437$1940.3 mi

* Subject property listed price vs sold prices of comps.

Condition Analysis

OVERALL CONDITION SCORE

Good
TeardownExcellent

Property is move-in ready.

The property is move-in ready and features significant recent cosmetic updates, including brand new laminate vinyl plank flooring, fresh interior paint, and updated light fixtures. While the home was built in 1967, it has been well-maintained with a functional layout, an oversized garage, and refreshed kitchen and bathroom areas. It avoids a 'fair' rating due to the immediate livability and the high quality of the recent surface renovations.

PROSSTRENGTHS & OPPORTUNITIES

  • Extensive Community Amenities

    Located in Panorama Village, residents enjoy a free 9-hole golf course, heated saltwater pool, and various social facilities with a remarkably low monthly HOA fee.

  • Move-In Ready Upgrades

    The interior has been recently refreshed with brand new laminate vinyl plank flooring, updated fixtures, and fresh paint, offering a clean and modern aesthetic.

  • Superior Storage & Parking

    This property features a rare oversized two-car attached garage, providing significantly more storage and vehicle space than most other homes in the community.

CONSRISKS & DEFICIENCIES

  • Age of Construction

    Built in 1967, the home may require ongoing maintenance or future updates to major systems like plumbing and electrical that are typical for properties of this era.

  • Restrictive Demographic

    The 55+ age requirement limits the potential buyer pool to a specific demographic, which can result in a longer time on market during resale.

About 640 Rainier

View Video before scheduling tour: https://youtu.be/Ols5-nVS1Zc........ UPGRADED with BRAND NEW LAMINATE VINYL PLANK FLOORING, you’ll immediately notice the fresh, clean feel the moment you step inside. Located within Panorama Village, a desirable 55+ senior golf community in Hemet, this move-in ready home has been thoughtfully refreshed with new interior paint and updated fixtures, creating a bright and comfortable space that simply feels easy to live in..... As you walk through the home, you’ll appreciate the functional layout offering two bedrooms and two full bathrooms, along with a versatile den near the sunroom area—perfect as a third bedroom, home office, reading retreat, or hobby space. The oversized two-car attached garage—one of the limited number of homes in the community with this feature—adds valuable convenience and storage, giving you room for both vehicles and extra belongings without compromise..... Step outside and imagine enjoying the large yard—ideal for gardening, relaxing with morning coffee, or spending peaceful afternoons outdoors in your own private space..... Panorama Village is known for its professionally designed 9-hole golf course, available at no cost to residents, along with low guest fees. Community amenities include a putting green, heated saltwater pool, clubhouse, jacuzzi, sauna, fitness area, shuffleboard courts, BBQ area, library, and dog parks—all maintained through a low monthly HOA that supports an active yet relaxed lifestyle..... Centrally located just minutes from shopping, dining, and everyday essentials, this home offers the convenience you want and the comfort you deserve within a well-kept, established senior community.

Property Details

Public Facts

Property Type
Single Family Residence
Year Built
1967
Lot Size
6,534 Sq. Ft.

Interior

Total Bedrooms
2
Total Bathrooms
2 (2 Full, 0 Half)

Exterior & Parking

No exterior & parking available.

Utilities & Misc

HOA Fee
$157.0 / Month

Neighborhood Insights

Sensitive Facilities

No sensitive facilities data found.

Neighborhood Comparison

FeatureSubjectAverage HomeNeighborhood Ranking (50 Listings)
Beds2.03.0
41%
Baths2.02.0
50%
Square foot1,4831,343
59%
Lot Size6,5346,534
50%
Price$310.0K$415.0K
23%
Price per sq ft$209$278
18%
Built year19671976
39%
HOA$157.0$0
71%
Days on market50159
5%

Pricing History

Listed for Sale

Mar 4, 2026

$310,000

$320,000

-3% Price Drop

Initial Listing

Price Change

Feb 28, 2026

$320,000

$325,000

-2% Price Drop

Initial Listing

Price Change

Feb 24, 2026

$325,000

$335,000

-3% Price Drop

Initial Listing

Price Change

Feb 15, 2026

$335,000

$325,000

+3% Price Increase

Initial Listing

Price Change

Jan 28, 2026

$325,000

$335,000

-3% Price Drop

Initial Listing

Price Change

Jan 16, 2026

$335,000

Initial Listing

Sold

Apr 27, 2023

$325,000

Public Record

Sold

Aug 24, 1998

$93,000

Public Record

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