40539 Stetson Avenue
About This Property
Set on a nearly one-acre flat lot (33,541 square feet) the expansive grounds provide endless possibilities. Whether you envision a lush garden, a kid's play field, a secure area for pets, a serene pool retreat, a possibility to add Accessory Dwelling Unit (ADU), this property has the space and zoning flexibility to make your vision a reality. Perfect for investors, flippers, or buyers seeking to build a multi-generational estate this home offers strong potential with a layout that lends itself to transformation.
Conveniently located approximately 8 miles from Hwy 74 and 79. Under 2 miles from the historic Ramona Bowl Amphitheater- home to the nation's longest-running outdoor play since 1928. This property also enjoys proximity to schools, shopping centers, and local amenities. It is located approximately 6 minutes from the Hemet Veterans Administration Outpatient Clinic. It's being sold AS-IS. The seller will make no repairs and provides no warranties. Buyers are strongly advised to perform all due diligence regarding zoning, permits, and ADU possibilities.
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Cap Rate Calculator
What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Feb 10, 2026 | Sold | ||
| Sold | |||
| Jan 31, 2026 | In contract | - | |
| In contract | |||
| Jan 29, 2026 | Relisted | $455,000 | |
| Relisted | |||
| Jan 29, 2026 | Price Decreased |
$399,000
↓ $56K
(12.3%) | |
| Price Decreased | |||
| Dec 4, 2025 | In contract | - | |
| In contract | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017