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

640 Rainier
Hemet, California 92543
Property Price
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
Comparable Sales Map
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 640 Rainier Subject | $310,000* List Price | 2 | 2 | 1,483 | $226 | - |
A 1241 Sandlewood Dr Sold | $310,000 | 2 | 2 | 1,504 | $206 | 0.1 mi |
B 728 Malibu Sold | $400,000 | 3 | 2 | 1,542 | $259 | 1.0 mi |
C 451 Palomar Sold | $300,000 | 2 | 2 | 1,480 | $203 | 0.2 mi |
D 410 Panorama Drive Sold | $279,900 | 2 | 2 | 1,425 | $196 | 0.3 mi |
E 1181 W Westmont Avenue Sold | $310,000 | 2 | 2 | 1,418 | $219 | 0.1 mi |
F 1461 W Mayberry Sold | $249,900 | 2 | 2 | 1,044 | $239 | 0.3 mi |
G 1520 Sandlewood Drive Active | $279,000 List Price | 2 | 2 | 1,437 | $194 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
OVERALL CONDITION SCORE
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
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 41% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,483 | 1,343 | 59% |
| Lot Size | 6,534 | 6,534 | 50% |
| Price | $310.0K | $415.0K | 23% |
| Price per sq ft | $209 | $278 | 18% |
| Built year | 1967 | 1976 | 39% |
| HOA | $157.0 | $0 | 71% |
| Days on market | 50 | 159 | 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




































