302 W Pleasant St · Coalinga, CA 93210

$3,950,000

72 bd · 40.0 ba · 32,320 sqft · MultiFamily public records · 46 Days on market

Built 1985 1.40 ac lot

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Why this score? — see what drove the C- 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 +21.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +5.0/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 24 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Built in 1985, Coalinga Crossing is a two-story garden-style Class B community consisting of 8 one-bedroom and 32 two-bedroom units across 4 buildings.The property features both ground-floor and upper-floor units, providing flexibility for a range of renters and is currently 97.5% occupied - just one vacancy ) demonstrating the strength of rental demand in the market.Multiple units are below the established market rent, providing a new owner a clear, low capital path to increased NOI through natural lease turnover.

Key facts

• 1.4 acre lot
• Built 1985
• Listed 45 days

What this means for you Summary

Snapshot

• This is a 24 × 3-bed/?-bath units multifamily listed at $3.95M.

Deal economics

• At list price, monthly cash flow is $6k ($71k/yr) — positive. Per door: $246/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $3.94M (0.2% below list).
• Recommended offer: $3.83M (3.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 3.9% in Coalinga — 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 53/100 on livability (#946 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: cost of living D+, schools F, amenities F.
• Coalinga-Huron Unified (town): math 14% / reading 40% proficiency, ranked #384 of 517 in CA (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 76 active listings in the ZIP; 2,426 units permitted in Fresno County in 2024 (296 in 5+ unit buildings).
• At $39,420/mo this rent would consume 632% of the median local household income ($75k/yr) (locally 336% 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 $27k of loan paydown is wiped out by about $118k 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.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($3.83M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 23y ago 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.
• Current owner paid $2.50M; list at $3.95M implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 5→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $3,831,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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 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: 1.00% ✗
• Cap rate: 8.09%
• Cash-on-cash: 6.41%
• DSCR: 1.29
• GRM: 8.4

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: -6.5%
• Equity multiple: 0.76×
• Total profit: $-264,523
• Equity at exit: $588,958

10-year hold

• IRR: 3.2%
• Equity multiple: 1.23×
• Total profit: $251,368
• Equity at exit: $341,524

Cash invested: $1,106,000 (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 93210

• Home prices YoY: -11.7%
• Active inventory: 76
• Price-to-rent: 200.4×

Monthly cashflow live

• Estimated rent: $39,420 high
• Mortgage (P&I): −$20,714
• Tax from tax record: −$2,875 /mo · $34,497/yr
• Insurance: −$1,646
• HOA: −$0
• Vacancy / Maint / Mgmt: −$8,278
• Net cashflow: $5,907

Break-even live

Break-even rent $31,943

Max offer price $3,950,000

Occupancy floor 80%

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

Units	Beds	Baths	Est. rent
▸ 24× units	3	—	$39,432
Total (24 units)			$39,420

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: $987,500
• Closing costs: $118,500
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $3,950,000 Active 46 DOM
2. 2026-06-18
   days on market $3,950,000 Active 45 DOM
3. 2026-06-17
   days on market $3,950,000 Active 44 DOM
4. 2026-06-16
   days on market $3,950,000 Active 43 DOM
5. 2026-06-15
   days on market $3,950,000 Active 42 DOM
6. 2026-06-14
   days on market $3,950,000 Active 40 DOM
7. 2026-06-13
   days on market $3,950,000 Active 39 DOM
8. 2026-06-10
   days on market $3,950,000 Active 37 DOM
9. 2026-06-09
   days on market $3,950,000 Active 36 DOM
10. 2026-06-08
    days on market $3,950,000 Active 35 DOM
11. 2026-06-07
    days on market $3,950,000 Active 34 DOM
12. 2026-06-02
    days on market $3,950,000 Active 29 DOM
13. 2026-06-01
    days on market $3,950,000 Active 28 DOM
14. 2026-05-31
    days on market $3,950,000 Active 27 DOM
15. 2026-05-30
    days on market $3,950,000 Active 26 DOM
16. 2026-05-04
    listed $3,950,000 Active 520-char remark

    Show marketing remark (520 chars)

    Built in 1985, Coalinga Crossing is a two-story garden-style Class B community consisting of 8 one-bedroom and 32 two-bedroom units across 4 buildings.The property features both ground-floor and upper-floor units, providing flexibility for a range of renters and is currently 97.5% occupied - just one vacancy ) demonstrating the strength of rental demand in the market.Multiple units are below the established market rent, providing a new owner a clear, low capital path to increased NOI through natural lease turnover.

17. 2019-08-12
    soldstatus $2,500,000
18. 2004-03-26
    soldstatus $1,800,000 807-char remark

    Show marketing remark (807 chars)

    The owners after several years decided NO more section 8. They released all tenants and began a remodeling of the entire facility. After one month of remarketing to new non-section 8 tenants, the complex is at approx 50% occupancy and filling quickly. Prior occupancy was 100% with a one-year waiting list under section 8. There is a total of 40 units, 32 Two bedroom units, and 8 one bedroom units and a total of 62 carport and uncovered parking spaces. The units have went through major renovation and updating and look great. There is a new 300 Million dollar, 54 building State hospital being constructed currently outside Coalinga that will service the nearby prisons. This very cute little city is experiencing tremendous growth. This is an ideal investment with huge potential in a great growth area.

19. 2004-01-19
    historical 807-char remark

    Show marketing remark (807 chars)

    The owners after several years decided NO more section 8. They released all tenants and began a remodeling of the entire facility. After one month of remarketing to new non-section 8 tenants, the complex is at approx 50% occupancy and filling quickly. Prior occupancy was 100% with a one-year waiting list under section 8. There is a total of 40 units, 32 Two bedroom units, and 8 one bedroom units and a total of 62 carport and uncovered parking spaces. The units have went through major renovation and updating and look great. There is a new 300 Million dollar, 54 building State hospital being constructed currently outside Coalinga that will service the nearby prisons. This very cute little city is experiencing tremendous growth. This is an ideal investment with huge potential in a great growth area.

20. 2004-01-19
    price $1,900,000 807-char remark

    Show marketing remark (807 chars)

    The owners after several years decided NO more section 8. They released all tenants and began a remodeling of the entire facility. After one month of remarketing to new non-section 8 tenants, the complex is at approx 50% occupancy and filling quickly. Prior occupancy was 100% with a one-year waiting list under section 8. There is a total of 40 units, 32 Two bedroom units, and 8 one bedroom units and a total of 62 carport and uncovered parking spaces. The units have went through major renovation and updating and look great. There is a new 300 Million dollar, 54 building State hospital being constructed currently outside Coalinga that will service the nearby prisons. This very cute little city is experiencing tremendous growth. This is an ideal investment with huge potential in a great growth area.

21. 2003-08-17
    listed $1,800,000 807-char remark

    Show marketing remark (807 chars)

    The owners after several years decided NO more section 8. They released all tenants and began a remodeling of the entire facility. After one month of remarketing to new non-section 8 tenants, the complex is at approx 50% occupancy and filling quickly. Prior occupancy was 100% with a one-year waiting list under section 8. There is a total of 40 units, 32 Two bedroom units, and 8 one bedroom units and a total of 62 carport and uncovered parking spaces. The units have went through major renovation and updating and look great. There is a new 300 Million dollar, 54 building State hospital being constructed currently outside Coalinga that will service the nearby prisons. This very cute little city is experiencing tremendous growth. This is an ideal investment with huge potential in a great growth area.

ⓘ 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: $34,497 · $2,875/mo
• Projected year-2 tax: $34,497 · $2,875/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 7/10 Severe
• 🌡 Heat 8/10 Severe 5 d/yr ≥105°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 20 unhealthy d/yr today · 21 by 30 yrs out

Taxation est. · year 1

• Rental income: $473,040
• − Mortgage interest: −$221,261
• − Property taxes: −$34,497
• − Insurance: −$19,750
• − Repairs & maintenance: −$37,843
• − Management: −$37,843
• − Depreciation: −$114,909
• Taxable income: $6,936
• Est. tax owed @ 24.0%: −$1,665
• After-tax cash flow: $69,219/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: Coalinga-Huron Unified
• NCES district ID: 0609120
• Math proficiency: 14% ▼ -3.00%
• Reading proficiency: 40% ▲ 10.00%
• Median HH income: $40,366
• Composite: 22.69/100
• National rank: #8040
• State rank: #384 of 517 in CA

Livability — Coalinga

• Score: 53/100
• State rank: #946
• US rank: #24409

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Coalinga, CA
• County: Fresno County · 834,801 people
• City population: 18,491
• Metro: Fresno, CA
• Population (ZIP): 18,491
• Household income: $74,817
• Rent vs Own: 46.1% rent · 53.9% own
• Severe rent burden: 336.0

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (66%)
• Race & ethnicity: Hispanic / Latino 66% White 24% Two or more races 18% Black 4% Asian 3% Native American 2%
• Hispanic origin (detail): Mexican 59% Puerto Rican 1%
• Common ancestry: Lithuanian 2% Italian 1% Slovak 1%
• Foreign-born: 22% · Canada
• Languages at home: 47% English-only · Spanish 50% Other Asian/Pacific 1% Tagalog/Filipino 1%

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: ▼ -39.35%
• Current HPI: 296.6031
• Rent YoY: —
• Metro: Fresno, 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

+119.4% since first listed

6 events — show timeline

• 2026-05-04 Listed $3,950,000 FRESNOMLS
• 2019-08-12 Sold (Public Records) $2,500,000 Public Records
• 2004-03-26 Sold (MLS) $1,800,000 FRESNOMLS
• 2004-01-19 Price Changed $1,900,000 FRESNOMLS
• 2004-01-19 Delisted — FRESNOMLS
• 2003-08-17 Listed $1,800,000 FRESNOMLS

Property tax history

+3.7%/yr

Latest (2025): $34,497 · +1.3% YoY. Source: county tax records.