5055 N Wishon Ave Unit A-FIK · Fresno, CA 93704

$2,000,000

18 bd · 16.2 ba · 13,650 sqft · Condo · 160 Days on market

Built 1966 Good condition $147/sqft · 14% below area Est $2.325M · 14% under

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Why this score? — see what drove the F 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).

• ARV discount +13.8/15.0
• Schools +4.2/10.0
• Condition / age +4.0/5.0
• Rent growth +3.2/5.0
• Livability +3.1/5.0
• Cash flow +0.0/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investment Portfolio - 8 Condo Units | Chateau Wishon | 5055 N Wishon Ave, Fresno, CA 93704Rare opportunity to acquire 8 individual condominium units within the gated Chateau Wishon community in highly desirable Northwest Fresno.Unit Mix:(6) 2 Bed / 2 Bath units - approx. 1,650 sq ft each(2) 3 Bed / 2 Bath units - approx. 1,895 sq ft eachSpacious, well-designed floorplans offer generous living areas that appeal to long-term tenants seeking comfort and convenience.Community Features:Gated condominium complexCommunity swimming poolMature landscapingEstablished residential settingPrime Location:Ideally situated just minutes from Fig Garden Village, one of Fresno's premier shopping and dining destinations. Residents enjoy convenient access to boutiques, restaurants, cafs, and Whole Foods Market, enhancing everyday walkability and lifestyle appeal.The property also benefits from easy access to Shaw Avenue, CA-41, and CA-99, providing efficient connectivity throughout Fresno and the greater Central Valley.Located in the established Northwest Fresno / Fig Garden area, known for its mature trees, strong rental demand, and proximity to retail, healthcare, and employment centers.Investment Highlights:Rare 8-unit scale opportunity within a single condo communityDesirable 2 and 3 bedroom unit mixStrong rental demand in proven Northwest Fresno locationAttractive long-term hold or portfolio additionFinancials and additional property details available upon request.

Key facts

• Strong rental demand
• Mature landscaping
• Prime location

Tags

• GATED CONDOMINIUM COMPLEX
• COMMUNITY SWIMMING POOL
• MATURE LANDSCAPING
• PRIME LOCATION
• EASY ACCESS TO SHAW AVENUE
• STRONG RENTAL DEMAND

What this means for you Summary

Snapshot

• This is a 18-bed/16.2-bath condo listed at $2.00M. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-14k ($-163k/yr) — negative.
• To cash-flow at today's rent, offer at most $295k (85.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $258k (87.1% below list).
• Recommended offer: $258k (87.1% below list) — sets the bar for 1% rule.
• Cap rate -1.8% vs local median 3.7% in Fresno — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• 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.
• Fresno Unified (urban): math 18% / reading 47% proficiency, ranked #327 of 517 in CA (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 77% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Kratt Elementary (562 students, 79% FRL); Tenaya Middle (816 students, 66% FRL); Bullard High (math 28% / reading 55%, grade F, #498 of 1,170 statewide, top 43%, 2,492 students, 60% FRL).
• Market conditions: Rents rising (+3.0%/yr); 147 active listings in the ZIP; 2,426 units permitted in Fresno County in 2024 (296 in 5+ unit buildings).
• This rent runs 42% of the median local income ($73k/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 $14k of loan paydown is wiped out by about $60k 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 160 days — a 12% lower offer ($1.76M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 68% of rent.
• 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 $257,748 (87.1% below list)

Questions for the listing agent

1. 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?
2. It's been on market 160 days. Have you received any prior offers? Is the seller open to a 87% concession, seller financing, or rate buy-down credit?
3. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 0.13% ✗
• Cap rate: -1.83%
• Cash-on-cash: -29.02%
• DSCR: -0.29
• GRM: 64.7

CMA / ARV

• ARV (median comp): $2,324,675
• List price: $2,000,000
• Delta: -13.97%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.95% rent growth · sell at horizon

5-year hold

• IRR: -84.9%
• Equity multiple: -1.12×
• Total profit: $-1,185,678
• Equity at exit: $298,207

10-year hold

• IRR: —
• Equity multiple: -2.82×
• Total profit: $-2,139,164
• Equity at exit: $172,923

Cash invested: $560,000 (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 93704

• Rents YoY: 3.0%
• Active inventory: 147
• Price-to-rent: 64.7×

Monthly cashflow live

• Estimated rent: $2,577 medium
• Mortgage (P&I): −$10,488
• Tax est. 1.5%: −$2,500 /mo · $30,000/yr
• Insurance: −$833
• HOA est. from 4 same-building comps: −$1,758
• Vacancy / Maint / Mgmt: −$541
• Net cashflow: $-13,543

Break-even live

Break-even rent $19,721

Max offer price $40,258

Occupancy floor —

Sensitivity live

Price	-10% $-12,161	-5% $-12,852	+0% $-13,543	+5% $-14,234	+10% $-14,925
Rent	-10% $-13,747	-5% $-13,645	+0% $-13,543	+5% $-13,442	+10% $-13,340
Rate	-1.0pp $-12,536	-0.5pp $-13,035	base $-13,543	+0.5pp $-14,062	+1.0pp $-14,589

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: $500,000
• Closing costs: $60,000
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

HOA detail $0/mo · $0/yr condo

• Likely covers: landscapingpoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 42 events

1. 2026-07-22
   days on market $2,000,000 Active 160 DOM
2. 2026-07-21
   days on market $2,000,000 Active 159 DOM
3. 2026-07-20
   days on market $2,000,000 Active 158 DOM
4. 2026-07-18
   days on market $2,000,000 Active 156 DOM
5. 2026-07-18
   days on market $2,000,000 Active 155 DOM
6. 2026-07-16
   days on market $2,000,000 Active 154 DOM
7. 2026-07-15
   days on market $2,000,000 Active 153 DOM
8. 2026-07-14
   days on market $2,000,000 Active 152 DOM
9. 2026-07-13
   days on market $2,000,000 Active 151 DOM
10. 2026-07-13
    days on market $2,000,000 Active 150 DOM
11. 2026-07-11
    days on market $2,000,000 Active 149 DOM
12. 2026-07-10
    days on market $2,000,000 Active 148 DOM
13. 2026-07-09
    days on market $2,000,000 Active 147 DOM
14. 2026-07-07
    days on market $2,000,000 Active 145 DOM
15. 2026-07-06
    days on market $2,000,000 Active 144 DOM
16. 2026-07-05
    days on market $2,000,000 Active 143 DOM
17. 2026-07-03
    days on market $2,000,000 Active 141 DOM
18. 2026-07-02
    days on market $2,000,000 Active 140 DOM
19. 2026-07-01
    days on market $2,000,000 Active 139 DOM
20. 2026-06-30
    days on market $2,000,000 Active 138 DOM
21. 2026-06-29
    days on market $2,000,000 Active 137 DOM
22. 2026-06-28
    days on market $2,000,000 Active 136 DOM
23. 2026-06-27
    days on market $2,000,000 Active 135 DOM
24. 2026-06-27
    days on market $2,000,000 Active 134 DOM
25. 2026-06-25
    days on market $2,000,000 Active 132 DOM
26. 2026-06-22
    days on market $2,000,000 Active 130 DOM
27. 2026-06-21
    days on market $2,000,000 Active 129 DOM
28. 2026-06-18
    days on market $2,000,000 Active 126 DOM
29. 2026-06-17
    days on market $2,000,000 Active 125 DOM
30. 2026-06-16
    days on market $2,000,000 Active 124 DOM
31. 2026-06-15
    days on market $2,000,000 Active 123 DOM
32. 2026-06-13
    days on market $2,000,000 Active 121 DOM
33. 2026-06-10
    days on market $2,000,000 Active 118 DOM
34. 2026-06-09
    days on market $2,000,000 Active 117 DOM
35. 2026-06-08
    days on market $2,000,000 Active 116 DOM
36. 2026-06-07
    days on market $2,000,000 Active 115 DOM
37. 2026-06-05
    days on market $2,000,000 Active 112 DOM
38. 2026-06-03
    days on market $2,000,000 Active 111 DOM
39. 2026-06-02
    days on market $2,000,000 Active 110 DOM
40. 2026-06-01
    days on market $2,000,000 Active 109 DOM
41. 2026-05-31
    days on market $2,000,000 Active 108 DOM
42. 2026-02-12
    listed $2,000,000 Active 1474-char remark

    Show marketing remark (1474 chars)

    Investment Portfolio - 8 Condo Units | Chateau Wishon | 5055 N Wishon Ave, Fresno, CA 93704Rare opportunity to acquire 8 individual condominium units within the gated Chateau Wishon community in highly desirable Northwest Fresno.Unit Mix:(6) 2 Bed / 2 Bath units - approx. 1,650 sq ft each(2) 3 Bed / 2 Bath units - approx. 1,895 sq ft eachSpacious, well-designed floorplans offer generous living areas that appeal to long-term tenants seeking comfort and convenience.Community Features:Gated condominium complexCommunity swimming poolMature landscapingEstablished residential settingPrime Location:Ideally situated just minutes from Fig Garden Village, one of Fresno's premier shopping and dining destinations. Residents enjoy convenient access to boutiques, restaurants, cafs, and Whole Foods Market, enhancing everyday walkability and lifestyle appeal.The property also benefits from easy access to Shaw Avenue, CA-41, and CA-99, providing efficient connectivity throughout Fresno and the greater Central Valley.Located in the established Northwest Fresno / Fig Garden area, known for its mature trees, strong rental demand, and proximity to retail, healthcare, and employment centers.Investment Highlights:Rare 8-unit scale opportunity within a single condo communityDesirable 2 and 3 bedroom unit mixStrong rental demand in proven Northwest Fresno locationAttractive long-term hold or portfolio additionFinancials and additional property details available upon request.

ⓘ 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 1/10 Low
• 🌡 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 48 unhealthy d/yr today · 50 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,930
• − Mortgage interest: −$112,031
• − Property taxes: −$30,000
• − Insurance: −$10,000
• − Repairs & maintenance: −$2,474
• − Management: −$2,474
• − HOA: −$21,096
• − Depreciation: −$58,182
• Taxable loss: −$205,328
• Est. tax savings @ 24.0%: +$49,279
• After-tax cash flow: $-113,241/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 · 12 photos

Good 80/100 Cosmetic rehab Est. rehab $68,250–$204,750 screening

This multi-family property is in good condition with minimal repairs needed. It offers a great investment opportunity with a well-maintained exterior and interior, and a community swimming pool.

Value-add opportunities

• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both Painting exterior — Improves appearance and adds value ↑
• Both Pool cleaning and maintenance — Keeps the pool in good condition and adds value ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 42/100

Zoned Schools

Elementary Kratt Elementary Middle Tenaya Middle High Bullard High F CA #498/1,170 Nat'l #7,907/17,239

Schools (NCES district)

• District: Fresno Unified
• NCES district ID: 0614550
• Math proficiency: 18% ▼ -12.00%
• Reading proficiency: 47% ▲ 9.00%
• Median HH income: $36,095
• Composite: 26.83/100
• National rank: #7111
• State rank: #327 of 517 in CA

C Composite livability gradescore 62/100

Livability — Fresno

• Score: 62/100
• State rank: #469
• US rank: #15907

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Fresno County · 1,042,971 people
• City population: 593,114
• Metro: Fresno, CA
• Population (ZIP): 28,932
• Household income: $73,234
• Rent vs Own: 44.0% rent · 56.0% own
• Severe rent burden: 12% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: Hispanic / Latino 45% White 41% Two or more races 19% Black 5% Asian 4%
• Hispanic origin (detail): Mexican 40%
• Common ancestry: Slovak 3% Lithuanian 2% Iranian 1%
• Foreign-born: 9% · Canada
• Languages at home: 77% English-only · Spanish 18% Other Asian/Pacific 2% French/Haitian/Cajun 1%

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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: ▼ -389.99%
• Current HPI: 355.925
• Rent YoY: ▲ 2.95%
• Metro: Fresno, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

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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

• 2026-02-12 Listed $2,000,000 FRESNOMLS