1123 Tabor Ave

Fairfield, CA 94533

$750,000C+

8 bd · 4.0 ba · 2,640 sqft · Built 1962 · MultiFamily · Pending · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $8,130/mo
• Mortgage (P&I): −$3,933
• Tax + insurance: −$527
• HOA: −$0
• Vac / Maint / Mgmt: −$1,707
• Net cashflow: $1,962/mo
• Annual: $23,550/yr
• Cap rate: 9.43%
• Cash-on-cash: 11.21%
• DSCR: 1.50
• 1% rule: 1.08%
• Cash to close: $210,000

Investor read

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $750k.
• At list price, monthly cash flow is $2k ($24k/yr) — positive. Per door: $491/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $750k).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $22k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#314 in CA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: crime D-, commute F, cost of living F.
• Fairfield-Suisun Unified (urban): math 23% / reading 53% proficiency, ranked #238 of 517 in CA (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Weir Preparatory Academy (706 students, 81% FRL); Fairfield High (math 16% / reading 41%, grade F, #774 of 1,170 statewide, top 66%, 1,633 students, 58% FRL) — zoned schools average 69% FRL vs 47% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 265 active listings in the ZIP; solid renter incomes; 1,472 units permitted in Solano County in 2024 (131 in 5+ unit buildings).
• Solano County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $143k; list at $750k implies a 424% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 9.4% vs local median 3.0% in Fairfield — 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.
• At $8,130/mo this rent would consume 112% of the median local household income ($87k/yr) (locally 3474% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Crime grade is D 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?
• 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.
• 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.
• 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.