860 E Grangeville Blvd Unit SP 92 · Hanford, CA 93230

$149,900

3 bd · 2.0 ba · 1,248 sqft · Manufactured · 1 Days on market

Built 2009 Good condition 11 ac lot Est $125k · 20% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Schools +3.6/10.0
• Rent growth +3.2/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Well Maintained 3 Br, 2 Ba located in a family friendly park. Inviting lay out offers a very spacious living room open to dining area. Kitchen offers ample cabinet space, dishwasher, gas stove, built in microwave and a great walk in panty. Indoor laundry room adds everyday convenience. Primary suite includes walk in closet and private bathroom with dual sinks, soaking tub, walk in shower and dedicated makeup counter. The guest bathroom features a tub/shower combination. Outside, enjoy a covered porch, covered paved carport, storage shed and low maintenance back space with artificial turf. Don't miss this opportunity to own a comfortable, moving in ready home in a welcoming community. LVP f

Key facts

• Ample cabinet space
• Walk in closet
• Private bathroom

Tags

• SPACIOUS LIVING ROOM
• AMPLE CABINET SPACE
• WALK IN PANTRY
• INDOOR LAUNDRY ROOM
• WALK IN CLOSET
• PRIVATE BATHROOM

Property features AI

Finance

• HOA & community: Community pool

Exterior

• Parking: Carport; Has carport
• Utilities: Electric service on; Public sewer; Public utilities
• Home design: Manufactured home
• Construction: Composition roof; Concrete foundation; Other construction materials; Mobile home structure
• Exterior features: One level; Covered patio/porch; Shed(s); Urban lot; Synthetic lawn; Private in-ground pool (community access)

Interior

• Kitchen: Disposal; Dishwasher; Microwave
• Flooring: Carpet; Laminate
• Bathrooms: 2 bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Disposal; Dishwasher; Microwave
• Laundry & utility: Inside laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $150k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $591 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 11.0% vs local median 3.9% in Hanford — 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 75/100 on livability (#121 in CA, #4,255 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, amenities B; Watch: crime D+, health & safety D+, cost of living F.
• Hanford Joint Union High (urban): math 20% / reading 58% proficiency, ranked #765 of 1,400 in CA (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hanford High (1,549 students, 80% FRL).
• Market conditions: Rents rising (+2.9%/yr); 430 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 741 units permitted in Kings County in 2024 (307 in 5+ unit buildings).
• This rent runs 33% of the median local income ($76k/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 $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 2.9% rent growth), your $42k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

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 $149,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.37% ✓
• Cap rate: 11.03%
• Cash-on-cash: 16.90%
• DSCR: 1.75
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $124,800
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
860 E Grangeville Blvd #153	0.00mi	3/2.0	1,344 (+8%)	9mo	$120,000	$89	80
860 E Grangeville Blvd #11	0.00mi	2/2.0 (-1)	1,344 (+8%)	6mo	$105,000	$78	77
860 E Grangeville Blvd #107	0.00mi	2/2.0 (-1)	1,200 (-4%)	16mo	$120,000	$100	76
852 E Grangeville Blvd #71	0.11mi	3/2.0	1,152 (-8%)	9mo	$125,000	$109	75

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 · 2.87% rent growth · sell at horizon

5-year hold

• IRR: 8.0%
• Equity multiple: 1.31×
• Total profit: $13,125
• Equity at exit: $22,351

10-year hold

• IRR: 17.2%
• Equity multiple: 2.40×
• Total profit: $58,939
• Equity at exit: $12,961

Cash invested: $41,972 (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 93230

• Rents YoY: 2.9%
• Active inventory: 430
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,060 high
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$433
• Net cashflow: $591

Break-even live

Break-even rent $1,311

Max offer price $149,900

Occupancy floor 66%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
SAND CYN Outside Area (Inside Ca), CA	2.0–3.0	2.0	949	$2,809	$2.96	14d	3	0.21mi
1823 N 10th Ave Unit 1819 Hanford, CA	2.0	1.0	900	$1,450	$1.61	14d	1	0.27mi
1819 N 10th Ave Hanford, CA	2.0	1.0	900	$1,450	$1.61	14d	1	0.29mi
2144 Beechwood Ct Hanford, CA	3.0	2.0	1466	$1,950	$1.33	14d	1	0.52mi
2403 Cherrywood Ct Hanford, CA	4.0	2.0	1311	$2,450	$1.87	14d	1	0.79mi
2337 N 10th Ave Hanford, CA	3.0	2.0	1248	$1,795	$1.44	14d	1	0.80mi
1373 Van Ct Hanford, CA	3.0	2.0	1236	$1,900	$1.54	21d	1	0.85mi
201 E 11th St Unit C Hanford, CA	2.0	1.0	700	$1,295	$1.85	21d	1	1.13mi
630 Neville St Hanford, CA	2.0	1.0	1399	$1,550	$1.11	21d	1	1.29mi
1920 N 11th Ave Hanford, CA	3.0	2.0	1500	$1,650	$1.10	21d	1	1.32mi
412 Ford St Unit 2 Hanford, CA	2.0	1.0	725	$1,150	$1.59	21d	1	1.48mi

Listing history 2 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   listed $149,900 Active 1 DOM

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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 49 unhealthy d/yr today · 50 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,716
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$750
• − Repairs & maintenance: −$1,977
• − Management: −$1,977
• − Depreciation: −$4,361
• Taxable income: $5,006
• Est. tax owed @ 24.0%: −$1,201
• After-tax cash flow: $5,893/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 · 13 photos

Good 75/100 Cosmetic rehab

This well-maintained mobile home is in good condition with a good condition score of 75. It is move-in ready with minimal repairs needed and offers a good return on investment for both resale and rental purposes.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and interior aesthetics.
• Resale Updating the kitchen appliances — Modern appliances can attract more buyers.
• Resale Upgrading the bathroom fixtures — Upgraded fixtures can improve the overall appeal and functionality of the bathroom.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and interior aesthetics. ↑
• Resale Updating the kitchen appliances — Modern appliances can attract more buyers. ↑
• Resale Upgrading the bathroom fixtures — Upgraded fixtures can improve the overall appeal and functionality of the bathroom. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Hanford Joint Union High
• NCES district ID: 0616500
• Math proficiency: 20% ▲ 1.00%
• Reading proficiency: 58% ▬ 0.00%
• Median HH income: $47,265
• Composite: 35.8/100
• National rank: #9626
• State rank: #765 of 1400 in CA

Livability — Hanford

• Score: 75/100
• State rank: #121
• US rank: #4255

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hanford, CA
• County: Kings County · 107,655 people
• City population: 69,684
• Metro: Hanford-Corcoran, CA
• Population (ZIP): 69,684
• Household income: $76,023
• Rent vs Own: 38.7% rent · 61.3% own
• Severe rent burden: 2081.0

Population outlook (Kings County) Hauer SSP2

• Today (2025): 147,136 people
• By 2030: 145,623 · -1.0%
• By 2040: 146,017 · -0.8%
• By 2050: 145,239 · -1.3%
• By 2075: 131,479 · -10.6%
• By 2100: 103,967 · -29.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Hispanic / Latino 52% White 35% Two or more races 19% Black 5% Asian 3% Native American 2%
• Hispanic origin (detail): Mexican 49%
• Common ancestry: Russian 6% Italian 2% Lithuanian 1%
• Foreign-born: 17% · Canada
• Languages at home: 65% English-only · Spanish 31% Other Indo-European 2% Tagalog/Filipino 2%

Political lean MEDSL · Kings

• 2024 margin: Strong R (+23.0) · D 37.4% · R 60.4% · Other 2.2%
• 2008→2024 swing: -8.9pp toward R · 2008: -14.1pp · 2024: -23.0pp
• All cycles: 2024: R+23.0 2020: R+12.2 2016: R+14.1 2012: R+16.3 2008: R+14.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -267.79%
• Current HPI: 321.3409
• Rent YoY: ▲ 2.87%
• Metro: Hanford-Corcoran, 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

1 event — show timeline

• 2026-06-17 Listed $149,900 FRESNOMLS