400 W Forest Ave · Coalinga, CA 93210

$4,780,000

78 bd · 60.0 ba · 44,167 sqft · MultiFamily public records · 48 Days on market

Built 1995 5.19 ac lot

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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 +22.2/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +5.1/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 30 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Ridgeview Apartments was built in 1995, a single-story garden-style Class B community consisting of 6 one-bedroom, 18 two-bedroom/one-bath, 6 two-bedroom/two-bath, and 12 three-bedroom/two-bath units - 42 spacious units across 8 buildings on 5.19 acres. The property's single-story layout offers a family-friendly living environment that appeals strongly to long-term renters, contributing to the property's current 100% occupancy. Considered by local residents as their preferred community in Coalinga, when a unit becomes available it's rented quickly. Multiple units are below establish units rents already in place giving a clear path to increased NOI for a new owner.

Key facts

• 5.19 acre lot
• Community pool
• Built 1995

Property features AI

Finance

• HOA & community: On-site manager; Community pool; Playground

Exterior

• Parking: Carport; Covered parking; Open parking available; More than one parking space per unit
• Utilities: Electric service available; Public sewer; Public utilities
• Home design: Multi-family property; Composition roof; Wood siding; Concrete perimeter foundation
• Construction: Wood siding construction; Composition roof; Concrete perimeter foundation
• Exterior features: One level; Patio; Suburban setting; Automatic sprinkler system; Mature landscaping

Interior

• Kitchen: Refrigerator; Dishwasher; Garbage disposal; Stove
• Bathrooms: Multiple bathrooms (total indicated as 60 across property)
• Heating & cooling: Central heating and cooling
• Interior features: Refrigerator included in all units; Dishwasher included in all units; Garbage disposal included in all units; Stove included in all units; In-unit laundry; No fireplaces; Central heat and air
• Laundry & utility: Laundry in each unit

What this means for you Summary

Snapshot

• This is a 30 × 3-bed/?-bath units multifamily listed at $4.78M.

Deal economics

• At list price, monthly cash flow is $8k ($93k/yr) — positive. Per door: $258/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($48k rent vs $4.78M).
• Recommended offer: $4.64M (3.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 3.9% in Coalinga — 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 53/100 on livability (#946 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: cost of living D+, amenities F, commute F.
• Coalinga-Huron Unified (town): math 14% / reading 40% proficiency, ranked #384 of 517 in CA (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Nell Dawson Elementary (453 students, 81% FRL); Coalinga Middle (684 students, 84% FRL); Coalinga High (math 17% / reading 42%, grade F, #750 of 1,170 statewide, top 66%, 1,266 students, 89% FRL).
• Market conditions: 76 active listings in the ZIP; 2,426 units permitted in Fresno County in 2024 (296 in 5+ unit buildings).
• At $48,378/mo this rent would consume 776% of the median local household income ($75k/yr) (locally 336% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $33k of loan paydown is wiped out by about $143k 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 48 days — a 3% lower offer ($4.64M) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 23y 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.
• Current owner paid $3.00M; list at $4.78M implies a 59% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 6→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $4,636,600 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. 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: 1.01% ✓
• Cap rate: 8.24%
• Cash-on-cash: 6.95%
• DSCR: 1.31
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -5.7%
• Equity multiple: 0.79×
• Total profit: $-281,601
• Equity at exit: $712,714

10-year hold

• IRR: 4.0%
• Equity multiple: 1.29×
• Total profit: $387,204
• Equity at exit: $413,287

Cash invested: $1,338,400 (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 93210

• Home prices YoY: -11.7%
• Active inventory: 76
• Price-to-rent: 247.0×

Monthly cashflow live

• Estimated rent: $48,378 high
• Mortgage (P&I): −$25,067
• Tax from tax record: −$3,407 /mo · $40,882/yr
• Insurance: −$1,992
• HOA: −$0
• Vacancy / Maint / Mgmt: −$10,159
• Net cashflow: $7,753

Break-even live

Break-even rent $38,564

Max offer price $4,780,000

Occupancy floor 79%

Sensitivity live

Price	-10% $10,459	-5% $9,106	+0% $7,753	+5% $6,400	+10% $5,047
Rent	-10% $3,931	-5% $5,842	+0% $7,753	+5% $9,664	+10% $11,575
Rate	-1.0pp $10,161	-0.5pp $8,969	base $7,753	+0.5pp $6,515	+1.0pp $5,255

30-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 30× units	3	—	$48,390
Total (30 units)			$48,378

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: $1,195,000
• Closing costs: $143,400
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-23
   days on market $4,780,000 Active 48 DOM
2. 2026-06-21
   days on market $4,780,000 Active 47 DOM
3. 2026-06-19
   days on market $4,780,000 Active 45 DOM
4. 2026-06-18
   days on market $4,780,000 Active 44 DOM
5. 2026-06-17
   days on market $4,780,000 Active 43 DOM
6. 2026-06-16
   days on market $4,780,000 Active 42 DOM
7. 2026-06-15
   days on market $4,780,000 Active 41 DOM
8. 2026-06-14
   days on market $4,780,000 Active 39 DOM
9. 2026-06-13
   days on market $4,780,000 Active 38 DOM
10. 2026-06-10
    days on market $4,780,000 Active 36 DOM
11. 2026-06-09
    days on market $4,780,000 Active 35 DOM
12. 2026-06-08
    days on market $4,780,000 Active 34 DOM
13. 2026-06-07
    days on market $4,780,000 Active 33 DOM
14. 2026-06-02
    days on market $4,780,000 Active 28 DOM
15. 2026-06-01
    days on market $4,780,000 Active 27 DOM
16. 2026-05-31
    days on market $4,780,000 Active 26 DOM
17. 2026-05-30
    days on market $4,780,000 Active 25 DOM
18. 2026-05-05
    listed $4,780,000 Active 670-char remark
19. 2021-01-13
    soldstatus $3,000,000
20. 2017-05-01
    soldstatus $2,900,000
21. 2017-04-06
    historical
22. 2017-02-01
    historical
23. 2012-07-22
    listed $3,800,000
24. 2005-08-31
    listed $3,400,000
25. 2005-08-31
    listed $3,400,000
26. 2004-06-25
    soldstatus $2,700,000
27. 2004-06-25
    soldstatus $2,771,143
28. 2003-11-01
    historical
29. 2003-08-30
    listed $2,700,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $40,882 · $3,407/mo
• Projected year-2 tax: $40,882 · $3,407/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 8/10 Severe 6 d/yr ≥105°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 20 unhealthy d/yr today · 21 by 30 yrs out

Taxation est. · year 1

• Rental income: $580,536
• − Mortgage interest: −$267,754
• − Property taxes: −$40,882
• − Insurance: −$23,900
• − Repairs & maintenance: −$46,443
• − Management: −$46,443
• − Depreciation: −$139,055
• Taxable income: $16,060
• Est. tax owed @ 24.0%: −$3,854
• After-tax cash flow: $89,185/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: Coalinga-Huron Unified
• NCES district ID: 0609120
• Math proficiency: 14% ▼ -3.00%
• Reading proficiency: 40% ▲ 10.00%
• Median HH income: $40,366
• Composite: 22.69/100
• National rank: #8040
• State rank: #384 of 517 in CA

Livability — Coalinga

• Score: 53/100
• State rank: #946
• US rank: #24409

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Coalinga, CA
• County: Fresno County · 834,801 people
• City population: 18,491
• Metro: Fresno, CA
• Population (ZIP): 18,491
• Household income: $74,817
• Rent vs Own: 46.1% rent · 53.9% own
• Severe rent burden: 336.0

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (66%)
• Race & ethnicity: Hispanic / Latino 66% White 24% Two or more races 18% Black 4% Asian 3% Native American 2%
• Hispanic origin (detail): Mexican 59% Puerto Rican 1%
• Common ancestry: Lithuanian 2% Italian 1% Slovak 1%
• Foreign-born: 22% · Canada
• Languages at home: 47% English-only · Spanish 50% Other Asian/Pacific 1% Tagalog/Filipino 1%

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: ▼ -39.35%
• Current HPI: 296.6031
• Rent YoY: —
• Metro: Fresno, 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

+77.0% since first listed

12 events — show timeline

• 2026-05-05 Listed $4,780,000 FRESNOMLS
• 2021-01-13 Sold (Public Records) $3,000,000 Public Records
• 2017-05-01 Sold (Public Records) $2,900,000 Public Records
• 2017-04-06 Listing Removed — NSBCRMLS
• 2017-02-01 Listing Removed — CRMLS
• 2012-07-22 Listed $3,800,000 CRMLS
• 2005-08-31 Listed $3,400,000 CRMLS
• 2005-08-31 Listed $3,400,000 NSBCRMLS
• 2004-06-25 Sold (Public Records) $2,771,143 Public Records
• 2004-06-25 Sold (MLS) $2,700,000 FRESNOMLS
• 2003-11-01 Delisted — FRESNOMLS
• 2003-08-30 Listed $2,700,000 FRESNOMLS

Property tax history

-1.2%/yr

Latest (2025): $40,882 · +1.5% YoY. Source: county tax records.