8701 Highway 41 #37 · Fresno, CA 93720

$185,000

3 bd · 2.0 ba · 1,440 sqft · SingleFamily · 69 Days on market

Built 1988 $128/sqft · at area comps Est $180k · at est.

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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 +29.4/30.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• ARV discount +6.3/15.0
• Schools +4.2/10.0
• Livability +3.1/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This beauty is very spacious and features an open floor plan. It has a newer paint on the exterior, vinyl plank type flooring, and newer updated windows. The manufactured home sits on a corner lot with dry landscaping, 3 bedrooms, a office and 2 full bathrooms. It is located in Wildwood mobile home park for 55+ residents. All residents have access to the San Juaquin river for fishing and kayaking. Don't miss your chance to live around nature and about a 10 minute drive to Riverpark.

Key facts

• Dry landscaping
• Open floor plan
• Newer paint

Tags

• OPEN FLOOR PLAN
• NEWER PAINT
• VINYL PLANK FLOORING
• NEWER UPDATED WINDOWS
• CORNER LOT
• DRY LANDSCAPING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $228 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $174k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.5% 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.
• Golden Valley Unified (town): math 38% / reading 55% proficiency, ranked #151 of 517 in CA (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.9%/yr); 176 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,346 units permitted in Madera County in 2024 (8 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Madera County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $173,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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 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: 1.32% ✓
• Cap rate: 10.54%
• Cash-on-cash: 15.17%
• DSCR: 1.67
• GRM: 6.3

CMA / ARV

• ARV (median comp): $180,293
• List price: $185,000
• Delta: 2.61%
• Verdict: FAIR
• Comps: 9 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.91% rent growth · sell at horizon

5-year hold

• IRR: -9.5%
• Equity multiple: 0.66×
• Total profit: $-17,794
• Equity at exit: $27,584

10-year hold

• IRR: -1.9%
• Equity multiple: 0.88×
• Total profit: $-6,216
• Equity at exit: $15,995

Cash invested: $51,800 (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 93720

• Rents YoY: 1.9%
• Active inventory: 176
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $2,447 high
• Mortgage (P&I): −$970
• Tax est. 1.5%: −$231 /mo · $2,775/yr
• Insurance: −$77
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$514
• Net cashflow: $228

Break-even live

Break-even rent $2,158

Max offer price $185,000

Occupancy floor 86%

Sensitivity live

Price	-10% $356	-5% $292	+0% $228	+5% $164	+10% $100
Rent	-10% $35	-5% $132	+0% $228	+5% $325	+10% $422
Rate	-1.0pp $321	-0.5pp $275	base $228	+0.5pp $180	+1.0pp $132

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
645 E Champlain Dr #106 Fresno, CA	2.0	2.0	1307	$2,200	$1.68	44d	1	0.90mi
8884 N Del Mar Ave Unit 1 Fresno, CA	2.0	2.0	1166	$2,095	$1.80	44d	1	0.93mi
326 E Deer Creek Ln Fresno, CA	3.0	2.0	1464	$2,650	$1.81	24d	1	0.94mi
9375 N Saybrook Dr Fresno, CA	1.0–2.0	1.0–2.0	1088	$2,462	$2.26	2d	25	1.18mi
1044 E Manhattan Ave Fresno, CA	4.0	2.0	1529	$2,300	$1.50	3d	1	1.37mi
8476 N Del Mar Ave Fresno, CA	4.0	2.0	1797	$10,000	$5.56	24d	1	1.39mi
1164 E Perrin Ave Fresno, CA	1.0–3.0	1.0–2.0	940	$2,373	$2.52	2d	11	1.50mi

Listing history 31 events

1. 2026-06-17
   status $185,000 Pending 69 DOM
2. 2026-06-17
   days on market $185,000 Active 69 DOM
3. 2026-06-16
   days on market $185,000 Active 68 DOM
4. 2026-06-15
   days on market $185,000 Active 67 DOM
5. 2026-06-13
   days on market $185,000 Active 65 DOM
6. 2026-06-13
   days on market $185,000 Active 64 DOM
7. 2026-06-10
   days on market $185,000 Active 62 DOM
8. 2026-06-09
   days on market $185,000 Active 61 DOM
9. 2026-06-08
   days on market $185,000 Active 60 DOM
10. 2026-06-07
    days on market $185,000 Active 59 DOM
11. 2026-06-05
    days on market $185,000 Active 56 DOM
12. 2026-06-03
    days on market $185,000 Active 55 DOM
13. 2026-06-02
    days on market $185,000 Active 54 DOM
14. 2026-06-01
    days on market $185,000 Active 53 DOM
15. 2026-05-31
    days on market $185,000 Active 52 DOM
16. 2026-04-03
    listed $185,000 Active 487-char remark

    Show marketing remark (487 chars)

    This beauty is very spacious and features an open floor plan. It has a newer paint on the exterior, vinyl plank type flooring, and newer updated windows. The manufactured home sits on a corner lot with dry landscaping, 3 bedrooms, a office and 2 full bathrooms. It is located in Wildwood mobile home park for 55+ residents. All residents have access to the San Juaquin river for fishing and kayaking. Don't miss your chance to live around nature and about a 10 minute drive to Riverpark.

17. 2025-09-27
    price $179,450
18. 2025-09-04
    price $194,750
19. 2025-08-22
    price $209,999
20. 2025-08-13
    price $220,000
21. 2024-08-20
    soldstatus $170,000 Closed
22. 2024-07-29
    status Pending
23. 2024-06-10
    listed $175,000 Active
24. 2016-09-01
    price $94,000
25. 2016-09-01
    status Pending
26. 2016-08-25
    soldstatus $94,000 Sold
27. 2016-07-27
    status Backup
28. 2016-07-27
    price $106,000
29. 2016-07-21
    price $106,000
30. 2016-05-18
    price $109,000
31. 2016-05-12
    listed $95,000 Active

ⓘ 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 6/10 Major FEMA zone AE · 62% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 44 unhealthy d/yr today · 51 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,367
• − Mortgage interest: −$10,363
• − Property taxes: −$2,775
• − Insurance: −$6,044
• − Repairs & maintenance: −$2,349
• − Management: −$2,349
• − Depreciation: −$5,382
• Taxable income: $105
• Est. tax owed @ 24.0%: −$25
• After-tax cash flow: $2,714/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: Golden Valley Unified
• NCES district ID: 0600068
• Math proficiency: 38% ▼ -8.00%
• Reading proficiency: 55% ▼ -5.00%
• Median HH income: $74,067
• Composite: 42.12/100
• National rank: #3313
• State rank: #151 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

• County: Fresno County · 834,801 people
• City population: 593,114
• Metro: Fresno, CA
• Population (ZIP): 50,089
• Household income: $105,050
• Rent vs Own: 43.2% rent · 56.8% own
• Severe rent burden: 1796.0

Population outlook (Madera County) Hauer SSP2

• Today (2025): 157,915 people
• By 2030: 159,604 · +1.1%
• By 2040: 163,454 · +3.5%
• By 2050: 167,071 · +5.8%
• By 2075: 171,182 · +8.4%
• By 2100: 162,781 · +3.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 48% Hispanic / Latino 28% Two or more races 16% Asian 16% Black 3%
• Hispanic origin (detail): Mexican 24%
• Common ancestry: Russian 2% Slovak 1% Italian 1%
• Foreign-born: 17% · Canada, China, Vietnam
• Languages at home: 73% English-only · Spanish 10% Other Indo-European 6% Tagalog/Filipino 2%

Political lean MEDSL · Madera

• 2024 margin: Strong R (+20.8) · D 38.4% · R 59.2% · Other 2.4%
• 2008→2024 swing: -7.5pp toward R · 2008: -13.3pp · 2024: -20.8pp
• All cycles: 2024: R+20.8 2020: R+11.6 2016: R+17.3 2012: R+19.4 2008: R+13.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -278.23%
• Current HPI: 332.618
• Rent YoY: ▲ 1.91%
• 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

+94.7% since first listed

16 events — show timeline

• 2026-04-03 Listed $185,000 FRESNOMLS
• 2025-09-27 Price Changed $179,450 FRESNOMLS
• 2025-09-04 Price Changed $194,750 FRESNOMLS
• 2025-08-22 Price Changed $209,999 FRESNOMLS
• 2025-08-13 Price Changed $220,000 FRESNOMLS
• 2024-08-20 Sold (MLS) $170,000 FRESNOMLS
• 2024-07-29 Pending — FRESNOMLS
• 2024-06-10 Listed $175,000 FRESNOMLS
• 2016-09-01 Price Changed $94,000 FRESNOMLS
• 2016-09-01 Pending — FRESNOMLS
• 2016-08-25 Sold (MLS) $94,000 FRESNOMLS
• 2016-07-27 Pending — FRESNOMLS
• 2016-07-27 Price Changed $106,000 FRESNOMLS
• 2016-07-21 Price Changed $106,000 FRESNOMLS
• 2016-05-18 Price Changed $109,000 FRESNOMLS
• 2016-05-12 Listed $95,000 FRESNOMLS

Property tax history

+10.6%/yr

Latest (2017): $363 · +9.9% YoY. Source: county tax records.