1941 N Golden State Blvd #33 · Fresno, CA 93705

$28,000

1 bd · 1.0 ba · 500 sqft · Manufactured · 128 Days on market

Manufactured home Built 1965 Fair condition $56/sqft · 66% below area ↓ 14% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.1/10.0
• Rent growth +3.8/5.0
• Livability +3.1/5.0
• Appreciation +2.5/10.0
• Condition / age +2.2/5.0
• Manufactured-home adj. -5.9

Key facts

• Community pool
• Built 1965
• Listed 127 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $28k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $566 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($961 rent vs $28k).
• Recommended offer: $25k (12.0% below list) — sets the bar for market timing.
• Cap rate 30.5% vs local median 3.7% in Fresno — 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 62/100 on livability (#469 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+; Watch: amenities D+, employment D+, crime F.
• Fresno Unified (urban): math 18% / reading 47% proficiency, ranked #327 of 517 in CA (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 77% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Addams Elementary (800 students, 97% FRL); Rutherford B. Gaston Sr. Middle (821 students, 98% FRL); Edison High (math 35% / reading 67%, grade D+, #319 of 1,170 statewide, top 28%, 2,466 students, 81% FRL) — zoned schools average 92% FRL vs 77% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 51% at this address vs 32% district-wide (+18 pts) — the actual schools serving this property are materially stronger than the Fresno Unified average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+5.2%/yr); 131 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,426 units permitted in Fresno County in 2024 (296 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $194 of loan paydown is wiped out by about $840 of value loss. Plan a longer hold.
• Fresno County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 5.2% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 128 days — a 12% lower offer ($25k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $24,640 (12.0% below list)

Questions for the listing agent

1. It's been on market 128 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 3.43% ✓
• Cap rate: 30.53%
• Cash-on-cash: 86.57%
• DSCR: 4.85
• GRM: 2.4

CMA / ARV

• ARV (median comp): $81,180
• List price: $28,000
• Delta: -65.51%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1941 N Golden State Blvd #50	0.07mi	1/1.0	500 (0%)	28mo	$57,500	$115	77
1520 N Delno Ave	0.92mi	1/1.0	576 (+15%)	8mo	$234,000	$406	33
1719 W Olive Ave W #31	0.75mi	2/1.0 (+1)	607 (+21%)	12mo	$82,000	$135	25
1529 N Palm Ave	1.48mi	1/1.0	611 (+22%)	27mo	$235,000	$385	20
1529 N Palm Ave	1.48mi	1/1.0	611 (+22%)	27mo	$235,000	$385	20

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 · 5.19% rent growth · sell at horizon

5-year hold

• IRR: 89.6%
• Equity multiple: 5.29×
• Total profit: $33,663
• Equity at exit: $4,175

10-year hold

• IRR: 93.0%
• Equity multiple: 11.85×
• Total profit: $85,041
• Equity at exit: $2,421

Cash invested: $7,840 (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 →

Active competition Active MLS

• For sale now: 1 active
• Median asking: $44,999 ($90/sqft)
• Median days on market: 88 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +80.4% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 93705

• Rents YoY: 5.2%
• Active inventory: 131
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $961 high
• Mortgage (P&I): −$147
• Tax est. 1.5%: −$35 /mo · $420/yr
• Insurance: −$12
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$202
• Net cashflow: $566

Break-even live

Break-even rent $245

Max offer price $28,000

Occupancy floor 36%

Sensitivity live

Price	-10% $585	-5% $575	+0% $566	+5% $556	+10% $546
Rent	-10% $490	-5% $528	+0% $566	+5% $604	+10% $641
Rate	-1.0pp $580	-0.5pp $573	base $566	+0.5pp $558	+1.0pp $551

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: $7,000
• Closing costs: $840
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2130 N Marks Ave Fresno, CA	2.0–4.0	1.0–2.0	900	$1,595	$1.77	15d	6	0.43mi
2212 N Marks Ave Fresno, CA	1.0–2.0	1.0	671	$1,265	$1.89	15d	2	0.46mi
2087 N Marks Ave Fresno, CA	1.0	1.0	700	$1,295	$1.85	17d	1	0.55mi
849 W Cambridge Ave Fresno, CA	1.0	1.0	700	$1,150	$1.64	73d	1	0.75mi
3166 W Princeton Ave Fresno, CA	2.0	1.0	565	$1,148	$2.03	15d	3	0.94mi
1584 N Carruth Ave Unit B Fresno, CA	1.0	1.0	520	$1,250	$2.40	93d	1	0.95mi
3165 W Shields Ave Fresno, CA	2.0	1.0	565	$1,175	$2.08	15d	1	1.01mi
3207 W Shields Ave Fresno, CA	1.0–3.0	1.0–2.0	959	$1,210	$1.26	15d	2	1.07mi
610 W Hammond Ave Unit 612 Fresno, CA	1.0	1.0	700	$1,250	$1.79	15d	1	1.09mi
610 W Hammond Ave Unit 614 Fresno, CA	2.0	1.0	750	$1,295	$1.73	38d	1	1.09mi
534 W Hedges Ave Unit 534 Fresno, CA	1.0	1.0	660	$1,200	$1.82	51d	1	1.09mi
1324 N Farris Ave Unit C Fresno, CA	—	1.0	500	$895	$1.79	41d	1	1.40mi

Listing history 50 events

1. 2026-07-31
   days on market $28,000 Active 128 DOM
2. 2026-07-30
   days on market $28,000 Active 127 DOM
3. 2026-07-30
   days on market $28,000 Active 126 DOM
4. 2026-07-28
   days on market $28,000 Active 125 DOM
5. 2026-07-26
   days on market $28,000 Active 123 DOM
6. 2026-07-24
   days on market $28,000 Active 121 DOM
7. 2026-07-23
   days on market $28,000 Active 120 DOM
8. 2026-07-22
   days on market $28,000 Active 119 DOM
9. 2026-07-21
   days on market $28,000 Active 118 DOM
10. 2026-07-20
    days on market $28,000 Active 117 DOM
11. 2026-07-18
    days on market $28,000 Active 115 DOM
12. 2026-07-18
    days on market $28,000 Active 114 DOM
13. 2026-07-16
    days on market $28,000 Active 113 DOM
14. 2026-07-15
    days on market $28,000 Active 112 DOM
15. 2026-07-14
    days on market $28,000 Active 111 DOM
16. 2026-07-13
    days on market $28,000 Active 110 DOM
17. 2026-07-13
    days on market $28,000 Active 109 DOM
18. 2026-07-11
    days on market $28,000 Active 108 DOM
19. 2026-07-10
    days on market $28,000 Active 107 DOM
20. 2026-07-09
    days on market $28,000 Active 106 DOM
21. 2026-07-07
    days on market $28,000 Active 104 DOM
22. 2026-07-06
    days on market $28,000 Active 103 DOM
23. 2026-07-05
    days on market $28,000 Active 102 DOM
24. 2026-07-03
    days on market $28,000 Active 100 DOM
25. 2026-07-02
    days on market $28,000 Active 99 DOM
26. 2026-07-01
    days on market $28,000 Active 98 DOM
27. 2026-06-30
    days on market $28,000 Active 97 DOM
28. 2026-06-29
    days on market $28,000 Active 96 DOM
29. 2026-06-28
    days on market $28,000 Active 95 DOM
30. 2026-06-27
    days on market $28,000 Active 94 DOM
31. 2026-06-27
    days on market $28,000 Active 93 DOM
32. 2026-06-25
    days on market $28,000 Active 91 DOM
33. 2026-06-22
    days on market $28,000 Active 89 DOM
34. 2026-06-21
    days on market $28,000 Active 88 DOM
35. 2026-06-18
    days on market $28,000 Active 85 DOM
36. 2026-06-17
    days on market $28,000 Active 84 DOM
37. 2026-06-16
    days on market $28,000 Active 83 DOM
38. 2026-06-15
    days on market $28,000 Active 82 DOM
39. 2026-06-13
    days on market $28,000 Active 80 DOM
40. 2026-06-10
    days on market $28,000 Active 77 DOM
41. 2026-06-09
    days on market $28,000 Active 76 DOM
42. 2026-06-08
    days on market $28,000 Active 75 DOM
43. 2026-06-07
    days on market $28,000 Active 74 DOM
44. 2026-06-05
    days on market $28,000 Active 71 DOM
45. 2026-06-03
    days on market $28,000 Active 70 DOM
46. 2026-06-02
    days on market $28,000 Active 69 DOM
47. 2026-06-01
    days on market $28,000 Active 68 DOM
48. 2026-05-31
    days on market $28,000 Active 67 DOM
49. 2026-04-16
    price $30,000
50. 2026-03-24
    listed $35,000 Active

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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 48 unhealthy d/yr today · 50 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,530
• − Mortgage interest: −$1,568
• − Property taxes: −$420
• − Insurance: −$140
• − Repairs & maintenance: −$922
• − Management: −$922
• − Depreciation: −$815
• Taxable income: $6,742
• Est. tax owed @ 24.0%: −$1,618
• After-tax cash flow: $5,169/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.

Condition & rehab AI · 7 photos

Fair 45/100 Moderate rehab Est. rehab $12,500–$22,500 screening

This manufactured home requires moderate renovations to improve its exterior, interior, and curb appeal, significantly increasing its resale and rental value.

Repairs flagged

• Major exterior siding — Severe weathering and peeling
• Major kitchen cabinets — Outdated and small
• Major bathroom fixtures — Outdated and small

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Replace carpet — Improves comfort and value ↑
• Both Paint interior walls — Freshens the space and adds value ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 51/100

Zoned Schools

Elementary Addams Elementary Middle Rutherford B. Gaston Sr. Middle High Edison High D+ CA #319/1,170 Nat'l #5,320/17,239

Schools (NCES district)

• District: Fresno Unified
• NCES district ID: 0614550
• Math proficiency: 18% ▼ -12.00%
• Reading proficiency: 47% ▲ 9.00%
• Median HH income: $36,095
• Composite: 26.83/100
• National rank: #7111
• State rank: #327 of 517 in CA

C Composite livability gradescore 62/100

Livability — Fresno

• Score: 62/100
• State rank: #469
• US rank: #15907

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fresno, CA
• County: Fresno County · 1,042,971 people
• City population: 593,114
• Metro: Fresno, CA
• Population (ZIP): 38,888
• Household income: $57,003
• Rent vs Own: 52.6% rent · 47.4% own
• Severe rent burden: 10% of renters

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Population outlook (Fresno County) Hauer SSP2

• Today (2025): 1,042,971 people
• By 2030: 1,072,198 · +2.8%
• By 2040: 1,122,408 · +7.6%
• By 2050: 1,157,251 · +11.0%
• By 2075: 1,182,575 · +13.4%
• By 2100: 1,105,899 · +6.0%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Hispanic / Latino 62% Two or more races 34% White 22% Black 6% Asian 6% Native American 2%
• Hispanic origin (detail): Mexican 60%
• Common ancestry: Lithuanian 1% Iranian 1% Russian 1%
• Foreign-born: 13% · Canada, China
• Languages at home: 61% English-only · Spanish 34% Other Asian/Pacific 2% Other Indo-European 1%

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Political lean MEDSL · Fresno

• 2024 margin: Toss-up / Even · D 46.5% · R 50.9% · Other 2.6%
• 2008→2024 swing: -6.5pp toward R · 2008: 2.1pp · 2024: -4.4pp
• All cycles: 2024: R+4.4 2020: D+7.8 2016: D+3.9 2012: R+2.9 2008: D+2.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -331.23%
• Current HPI: 399.0061
• Rent YoY: ▲ 5.19%
• Metro: Fresno, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

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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

-14.3% since first listed

2 events — show timeline

• 2026-04-16 Price Changed $30,000 FRESNOMLS
• 2026-03-24 Listed $35,000 FRESNOMLS