11128 San Madina Dr · Hanford, CA 93230

$265,000

3 bd · 2.0 ba · 1,152 sqft · SingleFamily public records · 51 Days on market

Built 1960 6,900 sqft lot Est $332k · 20% under

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +15.0/15.0
• Cash flow +14.2/30.0
• DSCR +4.3/10.0
• Livability +3.8/5.0
• Schools +3.6/10.0
• Rent growth +3.2/5.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to comfort and simplicity in this charming entry-level property! Offering 1,164 square feet of well-designed living space, this home is perfect for first-time buyers or anyone looking to downsize. Step inside to a cozy living area centered around a warm fireplaceideal for relaxing evenings or hosting friends. The layout flows easily into the dining and kitchen spaces, creating a functional and inviting atmosphere. Enjoy outdoor living with a covered patio, perfect for morning coffee, weekend barbecues, or unwinding after a long day. The home also features a convenient one-car garage, providing secure parking and extra storage. With its manageable size, thoughtful features, and

Key facts

• One-car garage
• Cozy living area
• Covered patio

Tags

• COZY LIVING AREA
• WARM FIREPLACE
• COVERED PATIO
• ONE-CAR GARAGE

Property features AI

Exterior

• Parking: Attached garage (1 car); Driveway; On-street parking
• Security: Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Single-story
• Construction: Stucco exterior; Composition roof; Concrete perimeter foundation; Built on a 0.1584-acre lot; Zoned R16
• Exterior features: Covered patio; Patio; Wood fencing; Paved road frontage on a city street

Interior

• Kitchen: Gas oven; Gas range
• Flooring: Laminate
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Evaporative cooling
• Interior features: Gas water heater; Gas oven; Gas range; Laminate flooring; No basement
• Laundry & utility: Laundry area in the garage

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $265k.

Deal economics

• At list price, monthly cash flow is $43 ($516/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $203k (23.4% below list).
• Recommended offer: $203k (23.4% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.9% in Hanford — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 75/100 on livability (#121 in CA, #4,255 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, amenities B; Watch: crime D+, health & safety D+, cost of living F.
• Hanford Joint Union High (urban): math 20% / reading 58% proficiency, ranked #765 of 1,400 in CA (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.9%/yr); 430 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 741 units permitted in Kings County in 2024 (307 in 5+ unit buildings).
• This rent runs 32% of the median local income ($76k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($257k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $202,858 (23.4% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.77% ✗
• Cap rate: 6.49%
• Cash-on-cash: 0.69%
• DSCR: 1.03
• GRM: 10.9

CMA / ARV

• ARV (on-the-fly): $331,776
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10902 San Madina Dr	0.08mi	3/2.0	1,188 (+3%)	3mo	$290,000	$244	89
1035 Michelle Ct	0.16mi	3/2.0	1,182 (+3%)	0mo	$325,000	$275	88
821 S 11th	0.24mi	3/2.0	1,213 (+5%)	2mo	$185,000	$153	79
1003 Edison Dr	0.34mi	3/2.0	1,114 (-3%)	1mo	$320,000	$287	77
1035 1035 Olive Court Ct	0.46mi	3/2.0	1,147 (-0%)	0mo	$310,000	$270	77
901 S 11th	0.23mi	3/1.0	1,104 (-4%)	2mo	$185,000	$168	77
1064 S Anacapa Ave	0.34mi	3/2.0	1,075 (-7%)	1mo	$310,000	$288	72
1171 State St	0.45mi	3/2.0	1,100 (-4%)	1mo	$317,000	$288	70
1078 Buena Vista Ln	0.46mi	3/2.5	1,109 (-4%)	2mo	$356,000	$321	69
10955 Abby Ln	0.48mi	3/3.0	1,189 (+3%)	1mo	$355,000	$299	68
639 Kimball Ln	0.56mi	3/2.0	1,011 (-12%)	3mo	$350,000	$346	51
1406 Bengston Ave	0.75mi	3/2.0	1,008 (-12%)	1mo	$308,000	$306	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.87% rent growth · sell at horizon

5-year hold

• IRR: -15.4%
• Equity multiple: 0.45×
• Total profit: $-40,606
• Equity at exit: $39,512

10-year hold

• IRR: -7.2%
• Equity multiple: 0.55×
• Total profit: $-33,474
• Equity at exit: $22,912

Cash invested: $74,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 93230

• Rents YoY: 2.9%
• Active inventory: 430
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $2,029 high
• Mortgage (P&I): −$1,390
• Tax from tax record: −$60 /mo · $714/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$426
• Net cashflow: $43

Break-even live

Break-even rent $1,974

Max offer price $265,000

Occupancy floor 93%

Sensitivity live

Price	-10% $193	-5% $118	+0% $43	+5% $-32	+10% $-107
Rent	-10% $-117	-5% $-37	+0% $43	+5% $123	+10% $203
Rate	-1.0pp $176	-0.5pp $110	base $43	+0.5pp $-26	+1.0pp $-96

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1078 Buena Vista Ln Hanford, CA	3.0	2.5	1301	$2,200	$1.69	22d	1	0.45mi
824 S Irwin St Hanford, CA	2.0	1.0	700	$1,395	$1.99	14d	1	0.49mi
11116 Kay Ln Hanford, CA	3.0	1.0	1008	$1,700	$1.69	22d	1	0.51mi
994 S Harris St Hanford, CA	3.0	2.0	1278	$1,650	$1.29	14d	1	0.63mi
1604 Sidonia St Hanford, CA	3.0	2.0	1443	$2,200	$1.52	22d	1	1.00mi
1296 Sparrow Dr Hanford, CA	3.0	1.5	1443	$2,300	$1.59	14d	1	1.05mi
412 Ford St Unit 2 Hanford, CA	2.0	1.0	725	$1,150	$1.59	22d	1	1.20mi
201 E 11th St Unit C Hanford, CA	2.0	1.0	700	$1,295	$1.85	22d	1	1.42mi

Listing history 18 events

1. 2026-06-19
   days on market $265,000 Active 51 DOM
2. 2026-06-18
   days on market $265,000 Active 50 DOM
3. 2026-06-17
   days on market $265,000 Active 49 DOM
4. 2026-06-16
   days on market $265,000 Active 48 DOM
5. 2026-06-15
   days on market $265,000 Active 47 DOM
6. 2026-06-14
   days on market $265,000 Active 45 DOM
7. 2026-06-13
   days on market $265,000 Active 44 DOM
8. 2026-06-10
   days on market $265,000 Active 42 DOM
9. 2026-06-09
   days on market $265,000 Active 41 DOM
10. 2026-06-08
    days on market $265,000 Active 40 DOM
11. 2026-06-07
    days on market $265,000 Active 39 DOM
12. 2026-06-05
    days on market $265,000 Active 36 DOM
13. 2026-06-03
    days on market $265,000 Active 35 DOM
14. 2026-06-02
    days on market $265,000 Active 34 DOM
15. 2026-06-01
    days on market $265,000 Active 33 DOM
16. 2026-05-31
    days on market $265,000 Active 32 DOM
17. 2026-05-30
    days on market $265,000 Active 31 DOM
18. 2026-04-28
    listed $265,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $714 · $60/mo
• Projected year-2 tax: $2,014 · $168/mo
• Expected delta: +$1,300/yr (+$108/mo · 182.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 31 unhealthy d/yr today · 35 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,343
• − Mortgage interest: −$14,844
• − Property taxes: −$714
• − Insurance: −$1,325
• − Repairs & maintenance: −$1,947
• − Management: −$1,947
• − Depreciation: −$7,709
• Taxable loss: −$4,144
• Est. tax savings @ 24.0%: +$995
• After-tax cash flow: $1,510/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Hanford Joint Union High
• NCES district ID: 0616500
• Math proficiency: 20% ▲ 1.00%
• Reading proficiency: 58% ▬ 0.00%
• Median HH income: $47,265
• Composite: 35.8/100
• National rank: #9626
• State rank: #765 of 1400 in CA

Livability — Hanford

• Score: 75/100
• State rank: #121
• US rank: #4255

Category grades

Amenities B Commute A+ Cost of living F Crime D+ Employment C Housing A+ Health & safety D+ User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hanford, CA
• County: Kings County · 107,655 people
• City population: 69,684
• Metro: Hanford-Corcoran, CA
• Population (ZIP): 69,684
• Household income: $76,023
• Rent vs Own: 38.7% rent · 61.3% own
• Severe rent burden: 2081.0

Population outlook (Kings County) Hauer SSP2

• Today (2025): 147,136 people
• By 2030: 145,623 · -1.0%
• By 2040: 146,017 · -0.8%
• By 2050: 145,239 · -1.3%
• By 2075: 131,479 · -10.6%
• By 2100: 103,967 · -29.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Hispanic / Latino 52% White 35% Two or more races 19% Black 5% Asian 3% Native American 2%
• Hispanic origin (detail): Mexican 49%
• Common ancestry: Russian 6% Italian 2% Lithuanian 1%
• Foreign-born: 17% · Canada
• Languages at home: 65% English-only · Spanish 31% Other Indo-European 2% Tagalog/Filipino 2%

Political lean MEDSL · Kings

• 2024 margin: Strong R (+23.0) · D 37.4% · R 60.4% · Other 2.2%
• 2008→2024 swing: -8.9pp toward R · 2008: -14.1pp · 2024: -23.0pp
• All cycles: 2024: R+23.0 2020: R+12.2 2016: R+14.1 2012: R+16.3 2008: R+14.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -267.79%
• Current HPI: 321.3409
• Rent YoY: ▲ 2.87%
• Metro: Hanford-Corcoran, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

1 event — show timeline

• 2026-04-28 Listed $265,000 KCBOR

Property tax history

+1.5%/yr

Latest (2025): $714 · +3.7% YoY. Source: county tax records.