446 N Maple Ave · Fresno, CA 93702

$799,900

12 bd · 6.0 ba · 4,680 sqft · MultiFamily public records · 30 Days on market

Built 1971 6,250 sqft lot

---

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 +21.6/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +4.9/10.0
• Livability +3.1/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 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 MLS

INVESTORS this is a real Income producer. Six units 2bed/1bath, two story apartment complex. Each unit has carport, shared laundry facility. Priced to sell.

Key facts

• 6,250 sq ft lot
• Built 1971
• Listed 30 days

Property features AI

Exterior

• Parking: Carport (covered parking)
• Utilities: Electric service available; Public utilities
• Home design: Multi-family property; Two-story
• Construction: Stucco construction; Wood and composition roofing; Concrete perimeter foundation; Built using public records as source
• Exterior features: Urban lot setting; Two levels

Interior

• Bathrooms: 6 bathrooms
• Heating & cooling: Floor or wall heating; Wall/window cooling units
• Interior features: Wall/window cooling units; Floor or wall heating; No fireplace listed

What this means for you Summary

Snapshot

• This is a 6 × 2-bed/1.0-bath units multifamily listed at $800k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $203/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $793k (0.9% below list).
• Recommended offer: $788k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.1% 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.

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+, schools D.
• 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.
• Market conditions: Rents soft (-0.9%/yr); 67 active listings in the ZIP; 2,426 units permitted in Fresno County in 2024 (296 in 5+ unit buildings).
• At $7,928/mo this rent would consume 201% of the median local household income ($47k/yr) (locally 2958% 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 $6k of loan paydown is wiped out by about $24k 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 30 days — a 2% lower offer ($788k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 27y 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 $440k; list at $800k implies a 82% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $787,901 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.99% ✗
• Cap rate: 8.12%
• Cash-on-cash: 6.54%
• DSCR: 1.29
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -9.5%
• Equity multiple: 0.66×
• Total profit: $-75,293
• Equity at exit: $119,268

10-year hold

• IRR: -4.3%
• Equity multiple: 0.75×
• Total profit: $-55,979
• Equity at exit: $69,161

Cash invested: $223,972 (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 93702

• Rents YoY: -0.9%
• Active inventory: 67
• Price-to-rent: 50.4×

Monthly cashflow live

• Estimated rent: $7,928 high
• Mortgage (P&I): −$4,195
• Tax from tax record: −$515 /mo · $6,174/yr
• Insurance: −$333
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,665
• Net cashflow: $1,221

Break-even live

Break-even rent $6,383

Max offer price $799,900

Occupancy floor 80%

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

Units	Beds	Baths	Est. rent
▸ 6× units	2	1	$7,926
Total (6 units)			$7,928

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: $199,975
• Closing costs: $23,997
• Reserves months: —
• Total cash needed: —

Listing history 45 events

1. 2026-06-18
   days on market $799,900 Active 30 DOM
2. 2026-06-17
   days on market $799,900 Active 29 DOM
3. 2026-06-16
   days on market $799,900 Active 28 DOM
4. 2026-06-15
   days on market $799,900 Active 27 DOM
5. 2026-06-13
   days on market $799,900 Active 25 DOM
6. 2026-06-10
   days on market $799,900 Active 22 DOM
7. 2026-06-09
   days on market $799,900 Active 21 DOM
8. 2026-06-08
   days on market $799,900 Active 20 DOM
9. 2026-06-07
   days on market $799,900 Active 19 DOM
10. 2026-06-05
    days on market $799,900 Active 16 DOM
11. 2026-06-03
    days on market $799,900 Active 15 DOM
12. 2026-06-02
    days on market $799,900 Active 14 DOM
13. 2026-06-01
    days on market $799,900 Active 13 DOM
14. 2026-05-31
    days on market $799,900 Active 12 DOM
15. 2026-05-19
    listed $799,900 Active
16. 2026-03-28
    historical $1,250
17. 2026-03-26
    listed $1,250
18. 2026-03-26
    historical $1,250
19. 2026-03-12
    listed $1,250
20. 2026-02-28
    historical $1,500
21. 2026-01-24
    listed $1,500
22. 2025-08-31
    historical $1,500
23. 2025-07-06
    listed $1,500
24. 2025-04-30
    historical $1,500
25. 2025-04-25
    listed $1,500
26. 2025-04-25
    historical $1,100
27. 2025-03-07
    listed $1,100
28. 2025-02-04
    historical $1,100
29. 2024-12-21
    listed $1,100
30. 2021-08-12
    soldstatus $440,000
31. 2009-09-30
    soldstatus $200,000 156-char remark

    Show marketing remark (156 chars)

    INVESTORS this is a real Income producer. Six units 2bed/1bath, two story apartment complex. Each unit has carport, shared laundry facility. Priced to sell.

32. 2009-09-30
    soldstatus $200,000

    Show marketing remark (156 chars)

    INVESTORS this is a real Income producer. Six units 2bed/1bath, two story apartment complex. Each unit has carport, shared laundry facility. Priced to sell.

33. 2009-08-14
    price $249,000 156-char remark

    Show marketing remark (156 chars)

    INVESTORS this is a real Income producer. Six units 2bed/1bath, two story apartment complex. Each unit has carport, shared laundry facility. Priced to sell.

34. 2009-08-14
    historical 156-char remark

    Show marketing remark (156 chars)

    INVESTORS this is a real Income producer. Six units 2bed/1bath, two story apartment complex. Each unit has carport, shared laundry facility. Priced to sell.

35. 2009-06-25
    listed $200,000 156-char remark

    Show marketing remark (156 chars)

    INVESTORS this is a real Income producer. Six units 2bed/1bath, two story apartment complex. Each unit has carport, shared laundry facility. Priced to sell.

36. 2002-05-22
    soldstatus $169,900 110-char remark

    Show marketing remark (110 chars)

    Clean and well maintained 6-plex. All units are 2 bedroom 1 bath and all units are rented for $400 per month.

37. 2002-05-22
    soldstatus $168,100

    Show marketing remark (110 chars)

    Clean and well maintained 6-plex. All units are 2 bedroom 1 bath and all units are rented for $400 per month.

38. 2002-03-12
    historical 110-char remark

    Show marketing remark (110 chars)

    Clean and well maintained 6-plex. All units are 2 bedroom 1 bath and all units are rented for $400 per month.

39. 2002-02-01
    listed $169,900 110-char remark

    Show marketing remark (110 chars)

    Clean and well maintained 6-plex. All units are 2 bedroom 1 bath and all units are rented for $400 per month.

40. 2001-03-29
    soldstatus $135,000
41. 2000-02-29
    soldstatus $106,000
42. 1999-11-15
    soldstatus $90,000
43. 1999-09-28
    price $110,000
44. 1999-09-28
    historical
45. 1999-07-23
    listed $90,000

ⓘ 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: $6,174 · $515/mo
• Projected year-2 tax: $6,174 · $515/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 (shaded) · 20% 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 42 unhealthy d/yr today · 48 by 30 yrs out

Taxation est. · year 1

• Rental income: $95,136
• − Mortgage interest: −$44,807
• − Property taxes: −$6,174
• − Insurance: −$4,000
• − Repairs & maintenance: −$7,611
• − Management: −$7,611
• − Depreciation: −$23,270
• Taxable income: $1,664
• Est. tax owed @ 24.0%: −$399
• After-tax cash flow: $14,247/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: 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

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

• Census place: Fresno, CA
• County: Fresno County · 834,801 people
• City population: 593,114
• Metro: Fresno, CA
• Population (ZIP): 43,875
• Household income: $47,229
• Rent vs Own: 64.4% rent · 35.6% own
• Severe rent burden: 2958.0

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 (75%)
• Race & ethnicity: Hispanic / Latino 75% Two or more races 26% Asian 10% White 7% Black 4% Native American 2%
• Hispanic origin (detail): Mexican 71%
• Foreign-born: 27% · Canada
• Languages at home: 35% English-only · Spanish 54% Other Asian/Pacific 9%

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: ▼ -255.81%
• Current HPI: 467.2799
• Rent YoY: ▼ -0.94%
• 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

+788.8% since first listed

31 events — show timeline

• 2026-05-19 Listed $799,900 FRESNOMLS
• 2026-03-28 Rental Removed $1,250 RENTALBEAST
• 2026-03-26 Listed for Rent $1,250 RENTALBEAST
• 2026-03-26 Rental Removed $1,250 RENTEC
• 2026-03-12 Listed for Rent $1,250 RENTEC
• 2026-02-28 Rental Removed $1,500 RENTALBEAST
• 2026-01-24 Listed for Rent $1,500 RENTALBEAST
• 2025-08-31 Rental Removed $1,500 RENTALBEAST
• 2025-07-06 Listed for Rent $1,500 RENTALBEAST
• 2025-04-30 Rental Removed $1,500 RENTEC
• 2025-04-25 Listed for Rent $1,500 RENTEC
• 2025-04-25 Rental Removed $1,100 RENTALBEAST
• 2025-03-07 Listed for Rent $1,100 RENTALBEAST
• 2025-02-04 Rental Removed $1,100 RENTALBEAST
• 2024-12-21 Listed for Rent $1,100 RENTALBEAST
• 2021-08-12 Sold (Public Records) $440,000 Public Records
• 2009-09-30 Sold (Public Records) $200,000 Public Records
• 2009-09-30 Sold (MLS) $200,000 FRESNOMLS
• 2009-08-14 Delisted — FRESNOMLS
• 2009-08-14 Price Changed $249,000 FRESNOMLS
• 2009-06-25 Listed $200,000 FRESNOMLS
• 2002-05-22 Sold (Public Records) $168,100 Public Records
• 2002-05-22 Sold (MLS) $169,900 FRESNOMLS
• 2002-03-12 Delisted — FRESNOMLS
• 2002-02-01 Listed $169,900 FRESNOMLS
• 2001-03-29 Sold (Public Records) $135,000 Public Records
• 2000-02-29 Sold (Public Records) $106,000 Public Records
• 1999-11-15 Sold (MLS) $90,000 FRESNOMLS
• 1999-09-28 Delisted — FRESNOMLS
• 1999-09-28 Price Changed $110,000 FRESNOMLS
• 1999-07-23 Listed $90,000 FRESNOMLS

Property tax history

+9.2%/yr

Latest (2025): $6,174 · +3.9% YoY. Source: county tax records.