3295 N Vaughan Ave

Fresno, CA 93723

$453,950D-

5 bd · 3.0 ba · 2,261 sqft · Built 2026 · SingleFamily · Active · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,374/mo
• Mortgage (P&I): −$2,381
• Tax + insurance: −$757
• HOA: −$0
• Vac / Maint / Mgmt: −$709
• Net cashflow: $-472/mo
• Annual: $-5,658/yr
• Cap rate: 5.05%
• Cash-on-cash: -4.45%
• DSCR: 0.80
• 1% rule: 0.74%
• Cash to close: $127,106

Investor read

• This is a 5-bed/3.0-bath single-family listed at $454k. Condition is rated good.
• At list price, monthly cash flow is $-472 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $386k (15.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $337k (25.7% below list).
• It's been on market 22 days — a 2% lower offer ($447k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $337k (25.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.
• Location reads 62/100 on livability (#469 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+; Watch: amenities D+, employment D+, crime F.
• Central Unified (urban): math 18% / reading 40% proficiency, ranked #345 of 517 in CA (top 67%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Harvest Elementary (math 24% / reading 75%, grade D+, #387 of 1,571 statewide, top 26%, 972 students, 75% FRL); Glacier Point Middle (math 24% / reading 75%, grade C, #98 of 498 statewide, top 21%, 873 students, 86% FRL); Central East High (math 20% / reading 41%, grade F, #710 of 1,170 statewide, top 61%, 2,061 students, 82% FRL) — zoned schools average 81% FRL vs 58% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 43% at this address vs 29% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Central Unified average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 261 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 60d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 71% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 2,426 units permitted in Fresno County in 2024 (296 in 5+ unit buildings).
• Fresno County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.0% vs local median 3.7% in Fresno — 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 31% of the median local income ($129k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• 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?
• Crime grade is F 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?
• 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.