NOT LISTED FOR SALE

40562 Stetson Ave Hemet, CA 92544

Estimated Value: $298,000 - $377,000

2 Beds
1 Bath
1,040 Sq Ft
$314/Sq Ft Est. Value

Last Sold November 01, 2018

Last sale price $137,240 $132 Per Sq Ft

Est. 138% increase in value since last sale

Current estimated payment $1,904/month

11 Days on Market

Highlights

  • Laundry Room
  • No Heating
  • 1-Story Property
  • Family Room

About This Home

As of November 2018

Excellent 2 bedroom 1 bathroom rental home in Hemet. The property is currently tenant occupied and has had minimal turnover during the course of the sellers ownership. The current tenant has been in place for two years and is now on a month to month lease. Tenant is paying slightly below market rent at $980 per month and believe the tenant would like to continue to stay. The property is an excellent income producer and with a tenant in place you can have cash flow day one!

Last Agent to Sell the Property

Matthew Hopkins

Citivest Inc License #01819074 Listed on: 08/09/2018

Last Buyer's Agent

Matthew Hopkins

Citivest Inc License #01819074 Listed on: 08/09/2018

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1959

Lot Details

  • 3,920 Sq Ft Lot
  • No Common Walls
  • Density is up to 1 Unit/Acre

Interior Spaces

  • 1,040 Sq Ft Home
  • 1-Story Property
  • Family Room
  • Laundry Room

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 1 Bathroom

Utilities

  • No Heating
  • Sewer Paid

Community Details

  • 1 Separate Electric Meter
  • 1 Separate Gas Meter
  • 1 Separate Water Meter
  • Insurance Expense $400
  • Maintenance Expense $300
  • Professional Management Expense $685
  • New Taxes Expense $1,430
  • Operating Expense $2,815
  • Gross Income $11,760
  • Net Operating Income $8,945

Listing and Financial Details

  • Tax Lot 3
  • Tax Tract Number 43313
  • Assessor Parcel Number 447280010

Property Details

Home Type

Multi-Family

Year Built

Built in 1959

Lot Details

0

Listing Details

  • Professional Management Expense: 685.00
  • Property Attached: No
  • Zoning: R-1
  • Property Type: Residential Income
  • Parcel Number: 447280010
  • Year Built: 1959
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 1
  • Common Walls: No Common Walls
  • Levels: One
  • Price Per Square Foot: 131.96
  • Room Type: Family Room

Exterior Features

  • Pool Private: No

Utilities

  • Heating: No
  • Laundry: Yes
  • Sewer: Sewer Paid
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 3920.00

Multi Family

  • Average2 Bed Area: 1040 Square Feet
  • Gross Income: 11760.00
  • Gross Operating Income: 11760.00
  • Gross Scheduled Income: 11760.00
  • Insurance Expense: 400.00
  • Maintenance Expense: 300.00
  • Net Operating Income: 8945.00
  • Number Of Separate Electric Meters: 1
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 1
  • Operating Expense: 2815.00
  • Rent Control: No
  • Total Expenses: 2815.00

Tax Info

  • New Taxes Expense: 1430.00
  • Tax Census Tract: 433.13
  • Tax Lot: 3
  • Tax Tract Number: 043313

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 9, 2018
Closed on
Oct 16, 2018
Sold by
Crippen Renee Elisha
Bought by
Johnson Martin Spencer
Seller's Agent
Matthew Hopkins
Citivest Inc
Buyer's Agent
Matthew Hopkins
Citivest Inc
List Price
$129,900
Sold Price
$137,240
Premium/Discount to List
$7,340
5.65%
Current Estimated Value
$326,364

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$189,124
Avg. Annual Appreciation
12.82%
Original Mortgage
$134,753
Outstanding Balance
$118,133
Interest Rate
4.75%
Mortgage Type
FHA
Estimated Equity
$208,231

Purchase Details

Listed on
Aug 9, 2018
Closed on
Oct 9, 2018
Sold by
Cv Housing Associates Llc
Bought by
Johnson Martin Spencer and Francis Diana Terese
Seller's Agent
Matthew Hopkins
Citivest Inc
Buyer's Agent
Matthew Hopkins
Citivest Inc
List Price
$129,900
Sold Price
$137,240
Premium/Discount to List
$7,340
5.65%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$134,753
Outstanding Balance
$118,133
Interest Rate
4.75%
Mortgage Type
FHA
Estimated Equity
$208,231

Purchase Details

Closed on
Sep 17, 2014
Sold by
Citivest Residential Income & Toal Retur
Bought by
Cv Housing Associates Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$3,000,000
Interest Rate
4.07%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Listed on
Feb 4, 2014
Closed on
Dec 16, 2013
Sold by
James Albert W and James Tommie Turner
Bought by
Citivest Residential Income & Total Retu
Seller's Agent
Mark Gallant
Citivest Realty Services, Inc
Buyer's Agent
Mark Gallant
Citivest Realty Services, Inc
Sold Price
$850

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$53,000
Interest Rate
4.45%
Mortgage Type
Stand Alone First

Purchase Details

Listed on
Feb 4, 2014
Closed on
Dec 11, 2013
Sold by
Cahp Holdings Llc
Bought by
James Albert W and James Tommie Turner
Seller's Agent
Mark Gallant
Citivest Realty Services, Inc
Buyer's Agent
Mark Gallant
Citivest Realty Services, Inc
Sold Price
$850

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$53,000
Interest Rate
4.45%
Mortgage Type
Stand Alone First

Purchase Details

Listed on
Nov 29, 2011
Closed on
Aug 28, 2012
Sold by
Fresh Start Homes Llc
Bought by
Cahp Holdings Llc
Seller's Agent
KRISTIN AMES
COLDWELL BANKER KIVETT-TEETERS
Buyer's Agent
John Chang
John Chang, Broker
List Price
$74,900
Sold Price
$82,000
Premium/Discount to List
$7,100
9.48%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
10.92%

Purchase Details

Closed on
Nov 11, 2011
Sold by
Us Bank National Association
Bought by
Fresh Star Homes Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$49,000
Interest Rate
3.87%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Oct 17, 2011
Sold by
Spiro Steve and Spiro Ilda
Bought by
U S Bank National Association

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$49,000
Interest Rate
3.87%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Nov 6, 2006
Sold by
Estate Management Services Llc
Bought by
Spiro Steve and Spiro Ilda

Purchase Details

Closed on
Oct 27, 2006
Sold by
Estate Management Services Llc
Bought by
Spiro Steve and Spiro Ilda

Purchase Details

Closed on
Sep 26, 2006
Sold by
Spiro Steve and Spiro Ilda
Bought by
Estate Management Services Llc

Purchase Details

Closed on
Jan 21, 2005
Sold by
Spiro Steve and Spiro Ilda
Bought by
Estate Trust Services Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$5,000,000
Interest Rate
5.67%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Nov 2, 2004
Sold by
Estate Trust Services Llc
Bought by
Spiro Steve and Spiro Ilda

Purchase Details

Closed on
Dec 4, 2003
Sold by
Cruz Perla and Cruz Augustin
Bought by
Spiro Steve and Spiro Ilda

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$96,600
Interest Rate
5.26%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jun 28, 2002
Sold by
Willette Shane L
Bought by
Cruz Perla and Cruz Augustin

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$100,424
Interest Rate
6.51%
Mortgage Type
FHA

Purchase Details

Closed on
May 28, 2002
Sold by
Arias Willette Star
Bought by
Willette Shane L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$100,424
Interest Rate
6.51%
Mortgage Type
FHA

Purchase Details

Closed on
Jun 5, 1995
Sold by
Burbine Doloris Galloway and Burbine Richard K
Bought by
Willette Shane L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$51,973
Interest Rate
7.61%
Mortgage Type
FHA
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Johnson Martin Spencer -- Ticor Title Company Of Calif
Johnson Martin Spencer $137,500 Ticor Title Company Of Calif
Cv Housing Associates Llc -- None Available
Citivest Residential Income & Total Retu $100,000 First American Title Company
James Albert W -- None Available
Cahp Holdings Llc $82,000 Chicago Title Inland Empire
Fresh Star Homes Llc $39,000 Chicago Title Inland Empire
U S Bank National Association $52,011 Accommodation
Spiro Steve -- Accommodation
Spiro Steve -- Landamerica Commonwealth Tit
Estate Management Services Llc -- Landamerica Commonwealth Tit
Estate Trust Services Llc -- --
Spiro Steve -- Commonwealth Title
Spiro Steve $138,000 Stewart Title Riverside
Cruz Perla $102,000 Stewart Title
Willette Shane L -- Stewart Title
Willette Shane L $52,000 First American Title Ins Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Johnson Martin Spencer $134,753
Previous Owner Cv Housing Associates Llc $3,000,000
Previous Owner Citivest Residential Income & Total Retu $53,000
Previous Owner Fresh Star Homes Llc $49,000
Previous Owner Estate Trust Services Llc $5,000,000
Previous Owner Spiro Steve $96,600
Previous Owner Cruz Perla $100,424
Previous Owner Willette Shane L $51,973
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
11/01/2018 11/01/18 Sold $137,240 +5.7% $132 / Sq Ft
08/20/2018 08/20/18 Pending -- -- --
08/09/2018 08/09/18 For Sale $129,900 0.0% $125 / Sq Ft
10/06/2016 10/06/16 Rented $950 0.0% --
09/12/2016 09/12/16 For Rent $950 +11.8% --
02/04/2014 02/04/14 Rented $850 0.0% --
02/04/2014 02/04/14 For Rent $850 0.0% --
12/26/2013 12/26/13 Rented $850 +6.9% --
12/26/2013 12/26/13 For Rent $795 0.0% --
09/11/2012 09/11/12 Sold $82,000 +110.3% $79 / Sq Ft View Prior Sale
08/24/2012 08/24/12 Pending -- -- --
08/03/2012 08/03/12 Sold $39,000 -51.2% $38 / Sq Ft View Prior Sale
06/28/2012 06/28/12 Price Changed $79,900 +6.7% $77 / Sq Ft
02/21/2012 02/21/12 Price Changed $74,900 +7.2% $72 / Sq Ft
01/28/2012 01/28/12 Price Changed $69,900 -6.7% $67 / Sq Ft
11/29/2011 11/29/11 For Sale $74,900 +92.1% $72 / Sq Ft
11/03/2011 11/03/11 Pending -- -- --
10/20/2011 10/20/11 For Sale $39,000 -- $38 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $2,392 $153,089 $33,464 $119,625
2023 $2,392 $147,146 $32,165 $114,981
2022 $2,286 $144,262 $31,535 $112,727
2021 $2,237 $141,434 $30,917 $110,517
2020 $2,206 $139,984 $30,600 $109,384
2019 $2,142 $137,240 $30,000 $107,240
2018 $2,025 $133,088 $21,125 $111,963
2017 $1,774 $130,479 $20,711 $109,768
2016 $1,500 $127,921 $20,305 $107,616
2015 $1,496 $126,000 $20,000 $106,000
2014 $966 $82,371 $20,090 $62,281
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW18183599

California Regional Multiple Listing Service (CRMLS)

APN: 447-280-010