1218 E Cleveland Ave #103 · Madera, CA 93638

$97,900

3 bd · 2.0 ba · 1,280 sqft · SingleFamily · 33 Days on market

Built 1992 2,700 sqft lot $76/sqft · 67% below area $850/mo HOA · 37% of rent

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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 +2.7/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this beautifully update 3-bedroom, 2-bathroom double-wide mobile home offering 1,280 sq ft of modern living space. Located in a peaceful 55+senior community, this move-in ready home features a spacious open floor plan, updated kitchen and bathrooms, new flooring, fresh paint, and stylish finishes throughout. Enjoy resort-style living amenities including a sparkling pool, clubhouse, and social activities. Conveniently located near shopping and dining, and medical services. Don't miss this rare opportunity for comfort, convenience, and community living.

Key facts

• Fresh paint
• Clubhouse
• New flooring

Tags

• UPDATED KITCHEN
• UPDATED BATHROOMS
• NEW FLOORING
• FRESH PAINT
• SPACIOUS OPEN FLOOR PLAN
• CLUBHOUSE

Property features AI

Finance

• HOA & community: Community association with clubhouse, pool, and fitness center; Association fee $850 monthly

Exterior

• Utilities: Electric service: on; Public utilities
• Home design: Mobile home; Park space rented
• Construction: Delaware Western mobile home; Wood siding exterior; Composition roof; Wood subfloor foundation
• Exterior features: One-level property; Urban lot setting; Private in-ground pool in the community

Interior

• Bathrooms: 2 bathrooms
• Heating & cooling: Central heat and central air conditioning; Has heating; Has cooling
• Interior features: Inside laundry
• Laundry & utility: Laundry located inside

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $98k.

Deal economics

• At list price, monthly cash flow is $318 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $98k).
• Recommended offer: $95k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.0% vs local median 3.9% in Madera — 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 51/100 on livability (#1,053 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: amenities F, commute F, employment D-.
• Madera Unified (urban): math 22% / reading 35% proficiency, ranked #1,095 of 1,400 in CA (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Millview Elementary (636 students, 99% FRL); Martin Luther King Jr. Middle (919 students, 97% FRL); Madera South High (1,994 students, 93% FRL) — zoned schools average 96% FRL vs 75% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 124 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 1,346 units permitted in Madera County in 2024 (8 in 5+ unit buildings).
• This rent runs 44% of the median local income ($62k/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 $677 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Madera County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($95k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 37% of rent.
• Climate carrying-cost: severe flood risk; severe wildfire risk; extreme-heat days projected 6→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $94,963 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-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. 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: 2.35% ✓
• Cap rate: 11.01%
• Cash-on-cash: 16.84%
• DSCR: 1.75
• GRM: 3.5

CMA / ARV

• ARV (median comp): $293,451
• List price: $97,900
• Delta: -66.64%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1413 Wrenwood Way	0.46mi	3/2.0	1,376 (+8%)	4mo	$350,000	$254	63
901 Bloker St	0.42mi	3/2.0	1,426 (+11%)	6mo	$380,000	$266	56
1451 Segovia Ct	0.65mi	4/2.0 (+1)	1,275 (-0%)	11mo	$345,000	$271	55
1505 Fountain Way	0.50mi	4/2.0 (+1)	1,411 (+10%)	1mo	$372,500	$264	54
821 Austin Ave	0.56mi	3/2.0	1,400 (+9%)	6mo	$294,999	$211	53
821 Austin Ave	0.56mi	3/2.0	1,400 (+9%)	6mo	$294,999	$211	53
1101 Nebraska Ave	0.68mi	3/2.0	1,380 (+8%)	4mo	$347,950	$252	52
1326 Dellavalle Ave	0.74mi	3/1.0	1,316 (+3%)	11mo	$280,000	$213	47
1326 Dellavalle Ave	0.75mi	3/1.0	1,316 (+3%)	11mo	$280,000	$213	47
1061 Adell St	0.74mi	3/2.0	1,369 (+7%)	12mo	$395,000	$289	44
754 Shasta St	0.73mi	3/2.0	1,100 (-14%)	7mo	$378,950	$345	36
1717 Merced St	0.70mi	4/2.0 (+1)	1,420 (+11%)	14mo	$353,000	$249	32

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 4.6%
• Equity multiple: 1.18×
• Total profit: $4,943
• Equity at exit: $14,597

10-year hold

• IRR: 14.5%
• Equity multiple: 2.19×
• Total profit: $32,596
• Equity at exit: $8,465

Cash invested: $27,412 (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 93638

• Home prices YoY: -30.1%
• Active inventory: 124
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $2,302 medium
• Mortgage (P&I): −$513
• Tax from tax record: −$29 /mo · $352/yr
• Insurance: −$41
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$850
• Vacancy / Maint / Mgmt: −$483
• Net cashflow: $318

Break-even live

Break-even rent $1,899

Max offer price $97,900

Occupancy floor 81%

Sensitivity live

Price	-10% $374	-5% $346	+0% $318	+5% $290	+10% $263
Rent	-10% $136	-5% $227	+0% $318	+5% $409	+10% $500
Rate	-1.0pp $367	-0.5pp $343	base $318	+0.5pp $293	+1.0pp $267

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: $24,475
• Closing costs: $2,937
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1101 Nebraska Ave Madera, CA	3.0	2.0	1380	$2,095	$1.52	13d	1	0.66mi
1243 Bristlecone Dr Madera, CA	3.0	2.0	1616	$2,395	$1.48	13d	1	0.89mi
27848 Ellis St Madera, CA	3.0	2.0	1440	$2,000	$1.39	5d	1	1.11mi

HOA detail

• Monthly dues: $850 · $10,200/yr
• Likely covers: pool

Listing history 34 events

1. 2026-05-06
   historical Pending Accepting Backups 567-char remark
2. 2026-04-24
   listed $97,900 Active 567-char remark
3. 2026-04-24
   historical
4. 2026-04-23
   price $98,900
5. 2026-04-13
   status Active
6. 2026-04-11
   status Active
7. 2026-03-24
   status Pending Sale
8. 2026-03-24
   historical Pending Accepting Backups
9. 2026-02-12
   listed $99,900 Active
10. 2026-02-01
    price $99,900
11. 2026-01-09
    historical
12. 2026-01-08
    listed $109,900 Active
13. 2025-11-23
    price $109,900
14. 2025-11-19
    price $109,900
15. 2025-11-17
    status Active
16. 2025-11-17
    status Active
17. 2025-11-02
    historical Active Under Contract
18. 2025-10-25
    historical Pending Accepting Backups
19. 2025-08-30
    status Active
20. 2025-08-30
    status Active
21. 2025-08-24
    historical Active Under Contract
22. 2025-08-24
    historical Pending Accepting Backups
23. 2025-07-11
    listed $119,900 Active
24. 2025-07-09
    listed $119,900 Active
25. 2025-04-21
    soldstatus $50,000 Closed Sale
26. 2025-04-21
    soldstatus $50,000 Closed
27. 2025-03-20
    status Pending Sale
28. 2025-03-20
    status Pending
29. 2025-03-15
    price $60,000
30. 2025-03-15
    price $60,000
31. 2025-03-05
    price $75,000
32. 2025-03-05
    price $75,000
33. 2025-01-31
    listed $95,000 Active
34. 2025-01-31
    listed $95,000 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: $352 · $29/mo
• Projected year-2 tax: $744 · $62/mo
• Expected delta: +$392/yr (+$33/mo · 111.2%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 9/10 Extreme
• 🌡 Heat 8/10 Severe 6 d/yr ≥106°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 38 unhealthy d/yr today · 40 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,618
• − Mortgage interest: −$5,484
• − Property taxes: −$352
• − Insurance: −$1,287
• − Repairs & maintenance: −$2,209
• − Management: −$2,209
• − HOA: −$10,200
• − Depreciation: −$2,848
• Taxable income: $3,028
• Est. tax owed @ 24.0%: −$727
• After-tax cash flow: $3,092/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: Madera Unified
• NCES district ID: 0623340
• Math proficiency: 22% ▬ 0.00%
• Reading proficiency: 35% ▲ 2.00%
• Median HH income: $43,446
• Composite: 27.2/100
• National rank: #12454
• State rank: #1095 of 1400 in CA

Livability — Madera

• Score: 51/100
• State rank: #1053
• US rank: #25190

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Madera, CA
• County: Madera County · 133,170 people
• City population: 109,650
• Metro: Madera, CA
• Population (ZIP): 50,571
• Household income: $62,374
• Rent vs Own: 44.0% rent · 56.0% own
• Severe rent burden: 1707.0

Population outlook (Madera County) Hauer SSP2

• Today (2025): 157,915 people
• By 2030: 159,604 · +1.1%
• By 2040: 163,454 · +3.5%
• By 2050: 167,071 · +5.8%
• By 2075: 171,182 · +8.4%
• By 2100: 162,781 · +3.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (83%)
• Race & ethnicity: Hispanic / Latino 83% Two or more races 22% White 11% Asian 2% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 80%
• Common ancestry: Lithuanian 1%
• Foreign-born: 32% · Canada
• Languages at home: 29% English-only · Spanish 69% Other Indo-European 2%

Political lean MEDSL · Madera

• 2024 margin: Strong R (+20.8) · D 38.4% · R 59.2% · Other 2.4%
• 2008→2024 swing: -7.5pp toward R · 2008: -13.3pp · 2024: -20.8pp
• All cycles: 2024: R+20.8 2020: R+11.6 2016: R+17.3 2012: R+19.4 2008: R+13.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -197.33%
• Current HPI: 458.5577
• Rent YoY: —
• Metro: Madera, 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

+3.1% since first listed

36 events — show timeline

• 2026-06-12 Sold (MLS) $97,900 FRESNOMLS
• 2026-05-27 Pending — FRESNOMLS
• 2026-05-06 Contingent — FRESNOMLS
• 2026-04-24 Listing Removed — CRMLS
• 2026-04-24 Listed $97,900 FRESNOMLS
• 2026-04-23 Price Changed $98,900 CRMLS
• 2026-04-13 Relisted — FRESNOMLS
• 2026-04-11 Relisted — CRMLS
• 2026-03-24 Pending — CRMLS
• 2026-03-24 Contingent — FRESNOMLS
• 2026-02-12 Listed $99,900 CRMLS
• 2026-02-01 Price Changed $99,900 FRESNOMLS
• 2026-01-09 Listing Removed — CRMLS
• 2026-01-08 Listed $109,900 FRESNOMLS
• 2025-11-23 Price Changed $109,900 CRMLS
• 2025-11-19 Price Changed $109,900 FRESNOMLS
• 2025-11-17 Relisted — CRMLS
• 2025-11-17 Relisted — FRESNOMLS
• 2025-11-02 Contingent — CRMLS
• 2025-10-25 Contingent — FRESNOMLS
• 2025-08-30 Relisted — CRMLS
• 2025-08-30 Relisted — FRESNOMLS
• 2025-08-24 Contingent — CRMLS
• 2025-08-24 Contingent — FRESNOMLS
• 2025-07-11 Listed $119,900 CRMLS
• 2025-07-09 Listed $119,900 FRESNOMLS
• 2025-04-21 Sold (MLS) $50,000 FRESNOMLS
• 2025-04-21 Sold (MLS) $50,000 CRMLS
• 2025-03-20 Pending — CRMLS
• 2025-03-20 Pending — FRESNOMLS
• 2025-03-15 Price Changed $60,000 CRMLS
• 2025-03-15 Price Changed $60,000 FRESNOMLS
• 2025-03-05 Price Changed $75,000 CRMLS
• 2025-03-05 Price Changed $75,000 FRESNOMLS
• 2025-01-31 Listed $95,000 FRESNOMLS
• 2025-01-31 Listed $95,000 CRMLS

Property tax history

+8.6%/yr

Latest (2017): $352 · -2.9% YoY. Source: county tax records.