875 S Gilbert, Hemet, California 92543, Hemet, 92543 - 2 bed, 2 bath
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Hemet, California 92543
This Income-Generating Residential Asset is listed at $415,900, presenting a stable acquisition for investors prioritizing immediate cash flow. Although the list price exceeds the $373,061 Fair Market Value, the asset provides a reliable income stream via an established tenant paying $2,150/month. The home carries a Fair Condition Rating and features a 1974 construction with a 2-bedroom layout and a private patio. Situated near essential shopping and the Hemet Unified School District, this property offers a strategic fit for Buy-and-Hold Investors or Income-Focused Buyers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 875 S Gilbert Subject | $415,900* List Price | 2 | 2 | 1,248 | $297 | - |
A 858 Coral Sold | $330,000 | 2 | 2 | 1,034 | $319 | 0.4 mi |
B 1258 Turquoise Sold | $415,000 | 3 | 2 | 1,426 | $291 | 0.5 mi |
C 527 Fern Sold | $380,000 | 2 | 2 | 1,175 | $323 | 0.6 mi |
D 338 S Gilbert Sold | $425,000 | 3 | 2 | 1,604 | $265 | 0.7 mi |
E 892 Margaret Pending | $380,000 List Price | 2 | 2 | 1,204 | $316 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property was built in 1974, placing it in the older construction category. While the images show a functional kitchen with standard appliances and tile flooring, the cabinetry and overall style appear dated. The bathrooms are not pictured, but given the age of the home and the kitchen's appearance, it's reasonable to assume they may also require updates. The carpeting in the living area appears worn. The property is described as tenant-occupied, and the provided images were taken before the current tenant moved in, meaning they do not reflect the current condition. This suggests potential for deferred maintenance or wear and tear not visible in the listing photos. The presence of a functional cooling/heating system is implied but not explicitly detailed. Overall, the property is likely move-in ready for a tenant but would benefit from cosmetic and potentially functional updates for an owner-occupant, aligning with a 'fair' condition score.
This single-family home is currently tenant-occupied, presenting an immediate income-generating opportunity for investors.
Situated in a good area of Hemet, the property is conveniently close to schools and shopping, enhancing its appeal to potential future residents.
The current tenant has been in place for a few months and is paying $2150/month, providing a stable rental income stream from the outset.
Built in 1974, the property may require updates or renovations to meet modern standards and buyer expectations.
The property has 2 bedrooms and 2 bathrooms, which may be insufficient for larger families or those seeking more space.
The provided pictures were taken before the current tenants moved in, meaning they do not reflect the current condition of the property.
Income property tenant occupied single family home (4b3d/2ba) in a good area of Hemet, close to schools and shopping. Tenant moved in couple of months ago and paying $2150/m, Pictures were taken before Tenants moved in Nov 2025
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 | 1,248 | 1,372 | 41% |
| Lot Size | 6,098 | 6,534 | 40% |
| Price | $415.9K | $420.0K | 49% |
| Price per sq ft | $333 | $290 | 69% |
| Built year | 1974 | 1977 | 48% |
| HOA | $0 | $0 | 50% |
| Days on market | 85 | 177 | 11% |
Jan 27, 2026
$415,900
Initial Listing
Dec 19, 2003
$182,000
Public Record