522 - 528 S South Dayton St · Tulare, CA 93274

$550,000

8 bd · 4.0 ba · 3,300 sqft · MultiFamily public records · 11 Days on market

Built 1978 0.29 ac lot Est $561k · at est.

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Why this score? — see what drove the B- 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).

• Cash flow +29.4/30.0
• DSCR +10.0/10.0
• ARV discount +8.4/15.0
• 1% rule +7.2/10.0
• Rent growth +3.2/5.0
• Schools +3.0/10.0
• Livability +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

Exceptional investment opportunity! This well-maintained fourplex features four spacious units, each offering 2 bedrooms and 1 bathroom, all fully occupied, providing immediate and consistent rental income from day one. Each unit includes in-unit laundry hookups, functional floor plans, and comfortable living spaces designed to attract and retain long-term tenants. The property also offers ample parking and low-maintenance grounds, making it an ideal, hassle-free addition to any investment portfolio. With all units currently leased, this property delivers strong cash flow and income potential. Conveniently located near shopping, dining, schools, and major transportation routes, ensuring con

Key facts

• Ample parking
• 0.29 acre lot
• Built 1978

Tags

• IN UNIT LAUNDRY HOOKUPS
• FUNCTIONAL FLOOR PLANS
• AMPLE PARKING
• LOW MAINTENANCE GROUNDS

Property features AI

Exterior

• Parking: Attached carport; Shared driveway
• Security: Carbon monoxide detectors; Smoke detectors
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected
• Home design: Residential income property; Quadruplex; One common wall
• Construction: Permanent foundation
• Exterior features: Composition roof; Lot approximately 0.29 acres (about 100' x 122'); Zoned RM

Interior

• Heating & cooling: Central heating; Central air
• Interior features: Central heating; Central air; Carbon monoxide detectors; Smoke detectors

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $550k.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive. Per door: $486/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $550k).
• Cap rate 10.5% vs local median 3.3% in Tulare — 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 58/100 on livability (#701 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: commute C-, employment D+, schools D-.
• Tulare Joint Union High (suburban): math 18% / reading 52% proficiency, ranked #280 of 517 in CA (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.7%/yr); 352 active listings in the ZIP; 1,447 units permitted in Tulare County in 2024 (307 in 5+ unit buildings).
• At $6,690/mo this rent would consume 111% of the median local household income ($73k/yr) (locally 2393% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.
• Tulare County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 2.7% rent growth), your $154k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $147k; list at $550k implies a 274% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $550,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.22% ✓
• Cap rate: 10.53%
• Cash-on-cash: 15.15%
• DSCR: 1.67
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $561,000
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
522 - 528 S South Dayton St	0.00mi	8/4.0	3,300 (0%)	1mo	$560,000	$170	99
522 South Dayton St	0.01mi	8/4.0	3,300 (0%)	1mo	$560,000	$170	99

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 · 2.67% rent growth · sell at horizon

5-year hold

• IRR: 5.4%
• Equity multiple: 1.21×
• Total profit: $32,312
• Equity at exit: $82,007

10-year hold

• IRR: 14.5%
• Equity multiple: 2.15×
• Total profit: $177,826
• Equity at exit: $47,554

Cash invested: $154,000 (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 93274

• Rents YoY: 2.7%
• Active inventory: 352
• Price-to-rent: 27.4×

Monthly cashflow live

• Estimated rent: $6,690 high
• Mortgage (P&I): −$2,884
• Tax from tax record: −$227 /mo · $2,729/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,405
• Net cashflow: $1,944

Break-even live

Break-even rent $4,229

Max offer price $550,000

Occupancy floor 66%

Sensitivity live

Price	-10% $2,256	-5% $2,100	+0% $1,944	+5% $1,789	+10% $1,633
Rent	-10% $1,416	-5% $1,680	+0% $1,944	+5% $2,209	+10% $2,473
Rate	-1.0pp $2,221	-0.5pp $2,084	base $1,944	+0.5pp $1,802	+1.0pp $1,657

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$6,692
Total (4 units)			$6,690

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: $137,500
• Closing costs: $16,500
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-04-28
   status Pending
2. 2026-04-17
   listed $550,000 Active
3. 1993-09-29
   soldstatus $147,000

ⓘ 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: $2,729 · $227/mo
• Projected year-2 tax: $4,180 · $348/mo
• Expected delta: +$1,451/yr (+$121/mo · 53.2%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 33 unhealthy d/yr today · 38 by 30 yrs out

Taxation est. · year 1

• Rental income: $80,280
• − Mortgage interest: −$30,809
• − Property taxes: −$2,729
• − Insurance: −$2,750
• − Repairs & maintenance: −$6,422
• − Management: −$6,422
• − Depreciation: −$16,000
• Taxable income: $15,148
• Est. tax owed @ 24.0%: −$3,635
• After-tax cash flow: $19,696/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: Tulare Joint Union High
• NCES district ID: 0639930
• Math proficiency: 18% ▼ -6.00%
• Reading proficiency: 52% ▼ -1.00%
• Median HH income: $46,858
• Composite: 29.91/100
• National rank: #6384
• State rank: #280 of 517 in CA

Livability — Tulare

• Score: 58/100
• State rank: #701
• US rank: #21185

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tulare, CA
• County: Tulare County · 323,826 people
• City population: 80,026
• Metro: Visalia, CA
• Population (ZIP): 80,026
• Household income: $72,650
• Rent vs Own: 42.9% rent · 57.1% own
• Severe rent burden: 2393.0

Population outlook (Tulare County) Hauer SSP2

• Today (2025): 484,681 people
• By 2030: 496,241 · +2.4%
• By 2040: 518,507 · +7.0%
• By 2050: 534,920 · +10.4%
• By 2075: 548,417 · +13.2%
• By 2100: 513,085 · +5.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (64%)
• Race & ethnicity: Hispanic / Latino 64% White 29% Two or more races 24% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 60%
• Common ancestry: Russian 7% Iranian 1% Italian 1%
• Foreign-born: 19% · Canada, Vietnam
• Languages at home: 52% English-only · Spanish 42% Other Indo-European 3% Other Asian/Pacific 1%

Political lean MEDSL · Tulare

• 2024 margin: Strong R (+20.7) · D 38.5% · R 59.2% · Other 2.3%
• 2008→2024 swing: -5.4pp toward R · 2008: -15.3pp · 2024: -20.7pp
• All cycles: 2024: R+20.7 2020: R+7.8 2016: R+12.1 2012: R+17.8 2008: R+15.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -402.03%
• Current HPI: 316.0806
• Rent YoY: ▲ 2.67%
• Metro: Visalia, 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

+274.1% since first listed

3 events — show timeline

• 2026-04-28 Pending — TCMLS
• 2026-04-17 Listed $550,000 TCMLS
• 1993-09-29 Sold (Public Records) $147,000 Public Records

Property tax history

+1.2%/yr

Latest (2025): $2,729 · +0.3% YoY. Source: county tax records.