1500 W Villa #32 · Clovis, CA 93612

$98,500

2 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 85 Days on market

Built 1976 Est $106k · 7% under ↓ 4% since listing

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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 +10.8/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.9/10.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to wonderful Arabian Villa Mobile Home Park 55+ Community ! handicap Mobile Home 2 bedroom 2 bath, Master bath has a roll in shower! 2nd bath a Jack & Jill Master bedroom is good size with two closets Living Room is good size with dinning area. Plank flooring living Room , bedrooms, > Kitchen and Baths have tile Kitchen has lots cabinets and dinning and laundry room ceiling fans in all rooms except Kitchen !>Has two lifts carport and back. Park has a beautiful Club House with many actives. ! Nice size Laundry Room<includes washer in dryer</Mobile Home that feels like home , very comfortable

Key facts

• Jack & jill
• Tile kitchen
• Ceiling fans

Tags

• ROLL IN SHOWER
• JACK & JILL
• PLANK FLOORING
• TILE KITCHEN
• CEILING FANS
• TWO LIFTS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $98k.

Deal economics

• At list price, monthly cash flow is $821 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $98k).
• Recommended offer: $93k (6.0% below list) — sets the bar for market timing.
• Cap rate 16.3% vs local median 3.0% in Clovis — 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 76/100 on livability (#92 in CA, #3,307 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, employment A; Watch: amenities C-, health & safety D, cost of living F.
• Clovis Unified (suburban): math 58% / reading 72% proficiency, ranked #152 of 1,400 in CA (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Sierra Vista Elementary (503 students, 87% FRL); Clark Intermediate (1,462 students, 61% FRL); Clovis High (2,905 students, 48% FRL) — zoned schools average 65% FRL vs 32% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.6%/yr); 86 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,426 units permitted in Fresno County in 2024 (296 in 5+ unit buildings).
• This rent runs 32% of the median local income ($67k/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 $681 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 2.6% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($93k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; extreme-heat days projected 6→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $92,590 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 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: 1.80% ✓
• Cap rate: 16.30%
• Cash-on-cash: 35.74%
• DSCR: 2.59
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $106,176
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1500 W Villa #32	0.00mi	2/2.0	1,248 (-7%)	1mo	$98,500	$79	87
1500 Villa Ave #94	0.00mi	2/2.0	1,440 (+7%)	8mo	$45,000	$31	82
1500 Villa Ave #76	0.00mi	2/1.8	1,440 (+7%)	7mo	$59,000	$41	81
1500 Villa Ave #117	0.01mi	2/2.0	1,440 (+7%)	8mo	$60,000	$42	81
1001 Sylmar Ave #131	0.43mi	3/2.0 (+1)	1,404 (+4%)	1mo	$136,500	$97	67
1001 Sylmar Ave. #198	0.43mi	2/2.0	1,248 (-7%)	6mo	$129,000	$103	63
1001 Sylmar Ave Spc 2	0.43mi	2/2.0	1,440 (+7%)	6mo	$100,000	$69	63
1001 Sylmar Ave #218	0.46mi	2/2.0	1,440 (+7%)	8mo	$85,000	$59	60
1001 Sylmar Ave #92	0.46mi	3/2.0 (+1)	1,456 (+8%)	5mo	$170,000	$117	56
1001 Sylmar Ave #99	0.43mi	3/2.0 (+1)	1,488 (+11%)	2mo	$135,000	$91	55
1001 Sylmar Ave #155	0.43mi	2/2.0	1,536 (+14%)	2mo	$100,000	$65	55
1001 Sylmar #94	0.46mi	3/2.0 (+1)	1,536 (+14%)	1mo	$149,900	$98	49

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 · 2.65% rent growth · sell at horizon

5-year hold

• IRR: 31.0%
• Equity multiple: 2.29×
• Total profit: $35,701
• Equity at exit: $14,687

10-year hold

• IRR: 38.0%
• Equity multiple: 4.47×
• Total profit: $95,777
• Equity at exit: $8,516

Cash invested: $27,580 (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 93612

• Rents YoY: 2.6%
• Active inventory: 86
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,770 high
• Mortgage (P&I): −$517
• Tax from tax record: −$19 /mo · $231/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $821

Break-even live

Break-even rent $730

Max offer price $98,500

Occupancy floor 49%

Sensitivity live

Price	-10% $877	-5% $849	+0% $821	+5% $794	+10% $766
Rent	-10% $682	-5% $752	+0% $821	+5% $891	+10% $961
Rate	-1.0pp $871	-0.5pp $847	base $821	+0.5pp $796	+1.0pp $770

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: $24,625
• Closing costs: $2,955
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
322 W Barstow Ave Unit 101 Clovis, CA	2.0	2.0	1100	$2,150	$1.95	45d	1	0.15mi
1108 Villa Ave Clovis, CA	2.0	1.5	900	$1,500	$1.67	45d	1	0.23mi
1099 Sylmar Ave Clovis, CA	2.0	1.0	965	$1,750	$1.81	25d	3	0.35mi
139 W Portals Ave Clovis, CA	2.0	1.0	1014	$1,600	$1.58	45d	1	0.35mi
608 W Scott Ave Clovis, CA	3.0	2.0	1398	$2,100	$1.50	3d	1	0.40mi
50 W 9th St Clovis, CA	2.0	2.0	1100	$1,500	$1.36	25d	1	0.50mi
1038 Tollhouse Rd Unit 1038 Clovis, CA	2.0	1.5	1100	$1,800	$1.64	4d	1	0.58mi
707 Bush Ave Clovis, CA	2.0	1.0	950	$1,575	$1.66	45d	1	0.59mi
2243 Helm Ave Unit 102 Clovis, CA	2.0	2.0	1100	$1,925	$1.75	23d	1	0.61mi
1042 Adler Dr Clovis, CA	2.0	1.5	1200	$1,895	$1.58	45d	1	0.61mi
740 Villa Ave Clovis, CA	2.0	2.0	922	$1,950	$2.11	23d	1	0.61mi
33 W Santa Ana Ave Apt A Clovis, CA	2.0	1.5	900	$1,450	$1.61	4d	1	0.64mi
145 Rall Ave Clovis, CA	3.0	2.0	1200	$1,900	$1.58	17d	1	0.78mi
55 W Bullard Ave Clovis, CA	1.0–2.0	1.0	800	$1,771	$2.21	3d	13	0.81mi
400 W Gettysburg Ave Apt 204A Clovis, CA	2.0	1.0	904	$1,600	$1.77	45d	1	0.86mi
400 W Gettysburg Ave Unit 215B Clovis, CA	2.0	2.0	994	$1,780	$1.79	45d	1	0.86mi
400 W Gettysburg Ave Apt 208A Clovis, CA	2.0	1.0	904	$1,500	$1.66	45d	1	0.86mi
400 W Gettysburg Ave Unit 143A Clovis, CA	2.0	1.0	904	$1,650	$1.83	23d	1	0.86mi
400 W Gettysburg Ave Unit 206B Clovis, CA	2.0	1.0	904	$1,500	$1.66	25d	1	0.86mi
400 W Gettysburg Ave Unit 101A Clovis, CA	2.0	1.0	904	$1,580	$1.75	25d	1	0.86mi
400 W Gettysburg Ave Unit 116B Clovis, CA	2.0	2.0	994	$1,795	$1.81	45d	1	0.86mi
400 W Gettysburg Ave Apt 223A Clovis, CA	2.0	2.0	994	$1,700	$1.71	45d	1	0.86mi
400 W Gettysburg Ave Unit 243A Clovis, CA	2.0	1.0	904	$1,500	$1.66	4d	1	0.86mi
841 W San Gabriel Ave Clovis, CA	3.0	2.0	1288	$1,995	$1.55	45d	1	0.91mi
5082 Primitivo Way Fresno, CA	1.0–2.0	1.0	847	$1,945	$2.30	13d	2	0.93mi
2777 Willow Ave Clovis, CA	1.0–2.0	1.0	812	$1,769	$2.18	3d	8	0.93mi
835 W Pico Ave Clovis, CA	1.0–2.0	1.0	761	$1,595	$2.10	3d	3	0.96mi
3143 Matoian Way Fresno, CA	1.0–2.0	1.0–2.0	971	$1,960	$2.02	45d	1	1.00mi
2967 Terry Ave Clovis, CA	3.0	1.5	1099	$2,095	$1.91	25d	1	1.00mi
537 W Escalon Ave Apt 101 Clovis, CA	2.0	2.0	1000	$1,600	$1.60	45d	1	1.03mi
2810 Willow Ave Clovis, CA	2.0	2.0	890	$1,572	$1.77	12d	1	1.03mi
2810 Willow Ave Clovis, CA	2.0	2.0	928	$1,623	$1.75	25d	1	1.03mi
2800 Willow Ave Clovis, CA	1.0–2.0	1.0–2.0	774	$1,633	$2.11	3d	7	1.06mi
5477 E Indianapolis Ave Fresno, CA	3.0	1.0	1403	$2,295	$1.64	45d	1	1.07mi
251 Minnewawa Ave Clovis, CA	2.0	1.5	1100	$2,100	$1.91	16d	1	1.08mi
1201 Scott Ave Clovis, CA	2.0	1.0	932	$1,568	$1.68	5d	4	1.20mi
4885 N Chestnut Ave Fresno, CA	2.0	1.5	1125	$1,565	$1.39	45d	1	1.28mi
551 W Ashlan Ave Unit 101 858 Clovis, CA	2.0	2.0	1000	$1,450	$1.45	45d	1	1.32mi
700 Music Ave Unit 102 Clovis, CA	2.0	1.5	950	$1,675	$1.76	45d	1	1.36mi
700 Music Ave Clovis, CA	2.0	2.0	950	$1,675	$1.76	25d	1	1.36mi

Listing history 4 events

1. 2026-03-31
   status Pending
2. 2026-02-17
   price $98,500
3. 2026-01-04
   listed $103,000 Active
4. 2025-09-27
   price $103,000

ⓘ 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: $231 · $19/mo
• Projected year-2 tax: $749 · $62/mo
• Expected delta: +$518/yr (+$43/mo · 224.1%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (shaded) · 58% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 6 d/yr ≥105°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 57 unhealthy d/yr today · 60 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,240
• − Mortgage interest: −$5,518
• − Property taxes: −$231
• − Insurance: −$492
• − Repairs & maintenance: −$1,699
• − Management: −$1,699
• − Depreciation: −$2,865
• Taxable income: $8,735
• Est. tax owed @ 24.0%: −$2,096
• After-tax cash flow: $7,761/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: Clovis Unified
• NCES district ID: 0609030
• Math proficiency: 58% ▲ 1.00%
• Reading proficiency: 72% ▲ 2.00%
• Median HH income: $71,950
• Composite: 58.7/100
• National rank: #2003
• State rank: #152 of 1400 in CA

Livability — Clovis

• Score: 76/100
• State rank: #92
• US rank: #3307

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clovis, CA
• County: Fresno County · 834,801 people
• City population: 139,989
• Metro: Fresno, CA
• Population (ZIP): 37,755
• Household income: $66,683
• Rent vs Own: 61.6% rent · 38.4% own
• Severe rent burden: 2487.0

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: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Hispanic / Latino 41% White 41% Two or more races 18% Asian 12% Black 2% Native American 2%
• Hispanic origin (detail): Mexican 37%
• Common ancestry: Slovak 2% Lithuanian 1% Italian 1%
• Foreign-born: 12% · Canada, China, Vietnam
• Languages at home: 73% English-only · Spanish 18% Other Asian/Pacific 4% Tagalog/Filipino 2%

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: ▼ -352.97%
• Current HPI: 357.6089
• Rent YoY: ▲ 2.65%
• 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

-4.4% since first listed

4 events — show timeline

• 2026-03-31 Pending — FRESNOMLS
• 2026-02-17 Price Changed $98,500 FRESNOMLS
• 2026-01-04 Listed $103,000 FRESNOMLS
• 2025-09-27 Price Changed $103,000 FRESNOMLS