721 S Santa Fe, Hemet, California 92543, Hemet, 92543 - 2 bed, 2 bath
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Hemet, California 92543
This Functional Single-Family Residence offers a stable entry into the Riverside County market, listed at $379,900—matching its $379,900 Fair Market Value. Holding a Condition Rating of 4, the home is well-maintained but features original 1965 finishes, providing a clear path for forced appreciation through cosmetic updates. Key mechanical strengths include a newer roof and water heater, while the month-to-month tenant and no HOA fees maximize immediate cash flow potential. This versatile asset is an ideal match for Buy-and-Hold Investors or first-time buyers seeking a value-add opportunity.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 721 S Santa Fe Subject | $379,900* List Price | 2 | 2 | 1,060 | $358 | - |
A 527 Fern Sold | $380,000 | 2 | 2 | 1,175 | $323 | 0.2 mi |
B 1276 E Johnston Ave Sold | $335,000 | 2 | 2 | 1,018 | $329 | 0.3 mi |
C 220 S State Street Sold | $275,000 | 3 | 1 | 972 | $283 | 0.8 mi |
D 892 Margaret Pending | $380,000 List Price | 2 | 2 | 1,204 | $316 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1965, the home is functional and maintained but significantly outdated. The kitchen and bathrooms feature original-style cabinetry, aged appliances, and dated fixtures. While major systems like the roof and water heater have been updated within the last 10 years, the interior requires cosmetic modernization, including new flooring and paint, to meet current market standards.
The property features significant mechanical and structural updates, including a roof replaced within the last ten years and a water heater less than five years old, minimizing immediate maintenance costs.
The absence of HOA fees combined with a low tax base makes this property highly affordable for first-time buyers and enhances the cap rate for potential investors.
Currently occupied by a month-to-month tenant, the property offers immediate cash flow for investors or a flexible timeline for owner-occupants looking to move in.
Built in 1965, the home may require cosmetic updates and modernization to meet current market trends and buyer expectations for interior finishes.
With only 1,060 square feet of living space and a single-car garage, the property may be restrictive for growing families or those requiring significant storage.
This home features a functional layout with generous living space, two comfortable sized bedrooms, two bathrooms and a well-appointed kitchen. In addition, there is a one car garage and room for additional parking on the right side of the driveway. The roof was replaced less than ten years ago and the water heater less than 5 years ago. The property is conveniently located near schools, shopping and major commuter routes. No HOA and a low tax base. Currently has a month-to-month tenant. You can either keep as a rental or live there yourself. Please do not use SHOWING TIME, call Agent for appt.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 40% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,060 | 1,372 | 25% |
| Lot Size | 6,098 | 6,534 | 40% |
| Price | $379.9K | $420.0K | 34% |
| Price per sq ft | $358 | $290 | 82% |
| Built year | 1965 | 1977 | 39% |
| HOA | $0 | $0 | 50% |
| Days on market | 92 | 177 | 14% |
Jan 20, 2026
$379,900
Initial Listing