23134 Round Valley Dr · Lindsay, CA 93247

$185,000

3 bd · 1.0 ba · 1,400 sqft · SingleFamily public records · 11 Days on market

Built 1884 1.75 ac lot

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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).

• Cash flow +19.1/30.0
• ARV discount +7.5/15.0
• DSCR +6.0/10.0
• 1% rule +4.2/10.0
• Schools +3.4/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Excellent investment opportunity in Lindsay! A great country property on 1.75 acres at the base of the foothills. Conveniently close to town and amenities while offering peaceful rural privacy, the setting is surrounded by mature, producing fruit and nut trees. This historic 1884 home is full of character but will require extensive renovation and may not meet current code standards. This home and property are being sold "AS IS", seller will not be making repairs; however, all personal items will be removed prior to close of escrow. A large shop of approximately 300 sq. ft. provides additional storage and parking options. Do not enter property without Listing Agent present.

Key facts

• Mature nut trees
• Country property
• Historic home

Tags

• INVESTMENT OPPORTUNITY
• COUNTRY PROPERTY
• 1.75 ACRES
• MATURE PRODUCING FRUIT TREES
• MATURE NUT TREES
• HISTORIC HOME

Property features AI

Finance

• Other: Zoning: AE 20; Paved road access

Exterior

• Parking: Detached garage (1 car); Concrete and open parking
• Utilities: Public water; Septic tank sewer; Natural gas available and connected; Electricity connected; Water connected
• Home design: Single-family residence; One story; Facing west; Property listed as fixer
• Construction: Wood siding construction; Asbestos shingle roof; Combination foundation with concrete perimeter; Built on 1.75-acre lot
• Exterior features: Covered porch; Patio; Back yard and front yard; Secluded setting; Waterfront on a canal and creek; Workshop on property; Trailer storage available

Interior

• Flooring: Hardwood floors; Concrete floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Fireplace heating; Wall/window cooling units
• Interior features: Beamed ceilings; Fireplace in the living room; Water heater included

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $43 ($522/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 $170k (8.2% below list).
• Recommended offer: $170k (8.2% below list) — sets the bar for 1% rule.
• Cap rate 7.6% vs local median 2.9% in Lindsay — 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 52/100 on livability (#1,023 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A; Watch: cost of living C-, crime D+, schools D.
• Lindsay Unified (town): math 30% / reading 47% proficiency, ranked #834 of 1,400 in CA (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 53 active listings in the ZIP; 1,447 units permitted in Tulare County in 2024 (307 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $81k; list at $185k implies a 128% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $152/mo; built in 1884 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AH (mandatory federal flood insurance); severe 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 $169,854 (8.2% below list)

Questions for the listing agent

1. Built in 1884 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
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 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: 0.92% ✗
• Cap rate: 7.56%
• Cash-on-cash: 4.53%
• DSCR: 1.20
• GRM: 9.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -14.7%
• Equity multiple: 0.48×
• Total profit: $-27,171
• Equity at exit: $27,584

10-year hold

• IRR: -6.0%
• Equity multiple: 0.62×
• Total profit: $-19,940
• Equity at exit: $15,995

Cash invested: $51,800 (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 93247

• Active inventory: 53
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,699 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$99 /mo · $1,189/yr
• Insurance: −$77
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$357
• Net cashflow: $43

Break-even live

Break-even rent $1,644

Max offer price $185,000

Occupancy floor 92%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-12
   statusdays on market $185,000 Pending 11 DOM
2. 2026-06-09
   days on market $185,000 Active 9 DOM
3. 2026-06-08
   days on market $185,000 Active 8 DOM
4. 2026-06-07
   days on market $185,000 Active 7 DOM
5. 2026-06-05
   remarks 681-char remark
6. 2026-06-05
   days on market $185,000 Active 5 DOM
7. 2026-06-04
   days on market $185,000 Active 3 DOM
8. 2026-06-02
   days on market $185,000 Active 2 DOM
9. 2026-06-01
   remarks 628-char remark
10. 2026-06-01
    listed $185,000 Active 1 DOM

ⓘ 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: $1,189 · $99/mo
• Projected year-2 tax: $1,406 · $117/mo
• Expected delta: +$217/yr (+$18/mo · 18.3%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone AH · 39% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 8/10 Severe 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 39 unhealthy d/yr today · 43 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,382
• − Mortgage interest: −$10,363
• − Property taxes: −$1,189
• − Insurance: −$2,750
• − Repairs & maintenance: −$1,631
• − Management: −$1,631
• − Depreciation: −$5,382
• Taxable loss: −$2,562
• Est. tax savings @ 24.0%: +$615
• After-tax cash flow: $1,137/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: Lindsay Unified
• NCES district ID: 0621870
• Math proficiency: 30% ▲ 6.00%
• Reading proficiency: 47% ▲ 6.00%
• Median HH income: $33,662
• Composite: 34.15/100
• National rank: #10270
• State rank: #834 of 1400 in CA

Livability — Lindsay

• Score: 52/100
• State rank: #1023
• US rank: #24985

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 17,967
• Population (ZIP): 17,967

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: Predominantly Hispanic (84%)
• Race & ethnicity: Hispanic / Latino 84% Two or more races 25% White 14% Native American 1%
• Hispanic origin (detail): Mexican 79%
• Common ancestry: Russian 1%
• Foreign-born: 33% · Canada
• Languages at home: 29% English-only · Spanish 71%

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: ▼ -238.85%
• Current HPI: 358.3335
• Rent YoY: —
• Metro: —
• 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

+128.4% since first listed

2 events — show timeline

• 2026-06-01 Listed $185,000 TCMLS
• 2008-10-23 Sold (Public Records) $81,000 Public Records

Property tax history

+1.3%/yr

Latest (2025): $1,189 · -1.2% YoY. Source: county tax records.