852 E Grangeville Blvd #46 · Hanford, CA 93230

$108,000

2 bd · 2.0 ba · 1,178 sqft · Manufactured · 53 Days on market

Built 1973 Est $118k · 8% under

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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
• ARV discount +11.2/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Schools +3.6/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this well-maintained 2 bedroom, 2 bathroom home located in Sierra Vista Mobile Estates. Offering a functional layout with comfortable living spaces, this home provides an ideal setup for both everyday living and entertaining. Conveniently situated near shopping, dining, and main roadways along Grangeville Blvd, the location makes commuting and errands simple. Enjoy community amenities and a low-maintenance lifestyle in an established park setting.

Key facts

• Community amenities
• Functional layout
• Pool

Tags

• FUNCTIONAL LAYOUT
• COMFORTABLE LIVING SPACES
• COMMUNITY AMENITIES
• LOW-MAINTENANCE LIFESTYLE
• ESTABLISHED PARK SETTING

Property features AI

Finance

• Other: Private in-ground fenced pool; Spa/Hot tub (in-ground, community); Paved road access

Exterior

• Utilities: Public water; Public sewer; Natural gas available and connected; Electricity connected; 220 volts in kitchen; Cable connected; Phone connected
• Home design: Manufactured in park (Double wide manufactured home)
• Construction: Composition roof; Skirting: aluminum and wood; Mobile home width approximately 12; Mobile home length approximately 4910
• Exterior features: Covered patio

Interior

• Kitchen: Convection oven; Microwave; Built-in gas range; Cooktop
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Ceiling fans
• Laundry & utility: Washer/Dryer (listed with appliances); Laundry located in kitchen

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $108k.

Deal economics

• At list price, monthly cash flow is $606 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $108k).
• Recommended offer: $105k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.0% 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.
• 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 21d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $747 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 2.9% rent growth), your $30k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($105k) 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 $104,760 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.59% ✓
• Cap rate: 13.03%
• Cash-on-cash: 24.06%
• DSCR: 2.07
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $117,800
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
852 E Grangeville Blvd #71	0.00mi	3/2.0 (+1)	1,152 (-2%)	9mo	$125,000	$109	84
860 E Grangeville Blvd #107	0.11mi	2/2.0	1,200 (+2%)	15mo	$120,000	$100	79
860 E Grangeville Blvd #11	0.11mi	2/2.0	1,344 (+14%)	6mo	$105,000	$78	66
860 E Grangeville Blvd #153	0.11mi	3/2.0 (+1)	1,344 (+14%)	9mo	$120,000	$89	59

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: 17.2%
• Equity multiple: 1.69×
• Total profit: $20,918
• Equity at exit: $16,103

10-year hold

• IRR: 25.6%
• Equity multiple: 3.22×
• Total profit: $67,129
• Equity at exit: $9,338

Cash invested: $30,240 (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: 5.3×

Monthly cashflow live

• Estimated rent: $1,712 high
• Mortgage (P&I): −$566
• Tax est. 1.5%: −$135 /mo · $1,620/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $606

Break-even live

Break-even rent $945

Max offer price $108,000

Occupancy floor 60%

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: $27,000
• Closing costs: $3,240
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1823 N 10th Ave Unit 1819 Hanford, CA	2.0	1.0	900	$1,450	$1.61	13d	1	0.14mi
1819 N 10th Ave Hanford, CA	2.0	1.0	900	$1,450	$1.61	13d	1	0.16mi
SAND CYN Outside Area (Inside Ca), CA	2.0–3.0	2.0	949	$2,269	$2.39	13d	3	0.34mi
2144 Beechwood Ct Hanford, CA	3.0	2.0	1466	$1,950	$1.33	13d	1	0.42mi
2337 N 10th Ave Hanford, CA	3.0	2.0	1248	$1,795	$1.44	13d	1	0.70mi
1373 Van Ct Hanford, CA	3.0	2.0	1236	$1,900	$1.54	21d	1	0.97mi
201 E 11th St Unit C Hanford, CA	2.0	1.0	700	$1,295	$1.85	21d	1	1.12mi
630 Neville St Hanford, CA	2.0	1.0	1399	$1,550	$1.11	21d	1	1.20mi
1920 N 11th Ave Hanford, CA	3.0	2.0	1500	$1,650	$1.10	21d	1	1.20mi
412 Ford St Unit 2 Hanford, CA	2.0	1.0	725	$1,150	$1.59	21d	1	1.45mi
1424 Rodgers Rd Unit 1496 Hanford, CA	2.0	1.0	741	$1,250	$1.69	21d	1	1.47mi

Listing history 18 events

1. 2026-06-19
   days on market $108,000 Active 53 DOM
2. 2026-06-18
   days on market $108,000 Active 52 DOM
3. 2026-06-17
   days on market $108,000 Active 51 DOM
4. 2026-06-16
   days on market $108,000 Active 50 DOM
5. 2026-06-15
   days on market $108,000 Active 49 DOM
6. 2026-06-14
   days on market $108,000 Active 47 DOM
7. 2026-06-13
   days on market $108,000 Active 46 DOM
8. 2026-06-10
   days on market $108,000 Active 44 DOM
9. 2026-06-09
   days on market $108,000 Active 43 DOM
10. 2026-06-08
    days on market $108,000 Active 42 DOM
11. 2026-06-07
    days on market $108,000 Active 41 DOM
12. 2026-06-05
    days on market $108,000 Active 38 DOM
13. 2026-06-03
    days on market $108,000 Active 37 DOM
14. 2026-06-02
    days on market $108,000 Active 36 DOM
15. 2026-06-01
    days on market $108,000 Active 35 DOM
16. 2026-05-31
    days on market $108,000 Active 34 DOM
17. 2026-05-30
    days on market $108,000 Active 33 DOM
18. 2026-04-27
    listed $108,000 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 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: $20,547
• − Mortgage interest: −$6,050
• − Property taxes: −$1,620
• − Insurance: −$540
• − Repairs & maintenance: −$1,644
• − Management: −$1,644
• − Depreciation: −$3,142
• Taxable income: $5,908
• Est. tax owed @ 24.0%: −$1,418
• After-tax cash flow: $5,858/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: 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

• 2026-04-27 Listed $108,000 TCMLS

Property tax history

+5.0%/yr

Latest (2025): $176 · -0.4% YoY. Source: county tax records.