49 Vine St

Lemoore, CA 93245

$325,000D+

4 bd · 3.0 ba · 2,016 sqft · Built 1973 · SingleFamily · Pending · 24 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,580/mo
• Mortgage (P&I): −$1,704
• Tax + insurance: −$287
• HOA: −$0
• Vac / Maint / Mgmt: −$542
• Net cashflow: $47/mo
• Annual: $565/yr
• Cap rate: 6.47%
• Cash-on-cash: 0.62%
• DSCR: 1.03
• 1% rule: 0.79%
• Cash to close: $91,000

Investor read

• This is a 4-bed/3.0-bath single-family listed at $325k.
• At list price, monthly cash flow is $47 ($565/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 $258k (20.6% below list).
• It's been on market 24 days — a 2% lower offer ($320k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $258k (20.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 58/100 on livability (#728 in CA) — a working-class tenant base; expect higher turnover. Strengths: commute A+, housing A+; Watch: schools D, amenities F, cost of living F.
• Lemoore Union High (suburban): math 25% / reading 55% proficiency, ranked #235 of 517 in CA (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.9%/yr); 146 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 741 units permitted in Kings County in 2024 (307 in 5+ unit buildings).
• Current owner paid $70k; list at $325k implies a 361% gain — meaningful room to come down on a strong offer.
• 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.
• Cap rate 6.5% vs local median 3.8% in Lemoore — 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.
• This rent runs 39% of the median local income ($80k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.