31367 Delaware Rd

Coarsegold, CA 93614

$160,000B+

3 bd · 2.0 ba · 1,305 sqft · Built 2002 · SingleFamily · Pending · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,800/mo
• Mortgage (P&I): −$839
• Tax + insurance: −$524
• HOA: −$0
• Vac / Maint / Mgmt: −$588
• Net cashflow: $849/mo
• Annual: $10,189/yr
• Cap rate: 13.16%
• Cash-on-cash: 24.52%
• DSCR: 2.09
• 1% rule: 1.75%
• Cash to close: $44,800

Investor read

• This is a 3-bed/2.0-bath single-family listed at $160k.
• At list price, monthly cash flow is $849 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $160k).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 62/100 on livability (#474 in CA) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A-; Watch: crime C-, amenities F, cost of living F.
• Yosemite Unified (rural): math 23% / reading 38% proficiency, ranked #321 of 517 in CA (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Coarsegold Elementary (math 8% / reading 22%, grade F, #1,420 of 1,571 statewide, top 91%, 271 students, 70% FRL); Yosemite High (math 57% / reading 72%, grade B-, #165 of 1,170 statewide, top 15%, 553 students, 53% FRL) — zoned schools average 62% FRL vs 38% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: property tax is 2.9% of price; flood insurance adds $66/mo.
• Market conditions: 246 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,346 units permitted in Madera County in 2024 (8 in 5+ unit buildings).
• Madera County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts since 2y 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~6 years — after that, you're playing with house money.
• Climate carrying-cost: major flood risk; severe wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 13.2% vs local median 3.8% in Coarsegold — 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.

Questions for listing agent

• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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?
• 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.