2300 W Morton Ave #22 · Porterville, CA 93257

$49,000

3 bd · 2.0 ba · 1,350 sqft · Land · 229 Days on market

Built 1985 ↓ 18% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +3.5/5.0
• Schools +3.5/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome Home! This 3 bedroom 2 bathroom home offers a very nice layout with spacious living room open to the dinning area that is open to kitchen with a breakfast bar, 2 pantries and plenty of storage, it also comes with a convenient spit floor plan with master bedroom on one side and other 2 bedroom on the other side. You will also enjoy the convenience of an inside laundry room with upper cabinets, good side back yard and carport plus front porch to sit and relax, all of this are on a corner lot just a short walk to the community pool that is next to a nice park with BBC area and picnic tables. Senior Park 55+. Call now for your private showing!

Key facts

• Nice park
• Community pool
• Inside laundry room

Tags

• SPACIOUS LIVING ROOM
• BREAKFAST BAR
• INSIDE LAUNDRY ROOM
• CORNER LOT
• COMMUNITY POOL
• NICE PARK

Property features AI

Finance

• Other: Private in-ground community pool with fenced area; Heated above-ground spa/hot tub

Exterior

• Utilities: Public water; Public sewer; Natural gas available and connected; Electricity connected; Cable connected; Water connected; Sewer connected
• Home design: Manufactured in park; Manufactured home (double wide); Single-story
• Construction: Composition roof; Other roof type; Block skirting; Mobile home 27 ft by 50 ft
• Exterior features: Awnings; Back yard; Corner lot

Interior

• Kitchen: Dishwasher; Gas oven; Gas range
• Flooring: Carpet; Vinyl; Wood
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; His and hers closets; Vaulted ceilings
• Laundry & utility: Washer hookup; Electric dryer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $49k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $49k).
• Recommended offer: $43k (12.0% below list) — sets the bar for market timing.
• Cap rate 31.8% vs local median 2.7% in Porterville — 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 60/100 on livability (#561 in CA) — a middle-class / working-renter tenant base. Strengths: housing A, commute A-; Watch: crime C-, cost of living D+, schools F.
• Burton Elementary (urban): math 31% / reading 42% proficiency, ranked #805 of 1,400 in CA (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.1%/yr); 320 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,447 units permitted in Tulare County in 2024 (307 in 5+ unit buildings).
• This rent runs 34% of the median local income ($60k/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 $339 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Tulare County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 4.1% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 229 days — a 12% lower offer ($43k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $43,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 229 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 3.44% ✓
• Cap rate: 31.82%
• Cash-on-cash: 91.16%
• DSCR: 5.06
• GRM: 2.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.07% rent growth · sell at horizon

5-year hold

• IRR: 93.0%
• Equity multiple: 5.39×
• Total profit: $60,265
• Equity at exit: $7,306

10-year hold

• IRR: 96.1%
• Equity multiple: 11.61×
• Total profit: $145,610
• Equity at exit: $4,237

Cash invested: $13,720 (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 93257

• Rents YoY: 4.1%
• Active inventory: 320
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,683 medium
• Mortgage (P&I): −$257
• Tax from tax record: −$10 /mo · $122/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $1,042

Break-even live

Break-even rent $364

Max offer price $49,000

Occupancy floor 33%

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: $12,250
• Closing costs: $1,470
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1711 W Henderson Ave Porterville, CA	1.0–2.0	1.0–2.0	889	$1,700	$1.91	13d	1	0.81mi

Listing history 19 events

1. 2026-06-18
   days on market $49,000 Active 229 DOM
2. 2026-06-17
   days on market $49,000 Active 228 DOM
3. 2026-06-16
   days on market $49,000 Active 227 DOM
4. 2026-06-15
   days on market $49,000 Active 226 DOM
5. 2026-06-14
   days on market $49,000 Active 224 DOM
6. 2026-06-13
   days on market $49,000 Active 223 DOM
7. 2026-06-10
   days on market $49,000 Active 221 DOM
8. 2026-06-09
   days on market $49,000 Active 220 DOM
9. 2026-06-08
   days on market $49,000 Active 219 DOM
10. 2026-06-07
    days on market $49,000 Active 218 DOM
11. 2026-06-05
    days on market $49,000 Active 215 DOM
12. 2026-06-03
    days on market $49,000 Active 214 DOM
13. 2026-06-02
    days on market $49,000 Active 213 DOM
14. 2026-06-01
    days on market $49,000 Active 212 DOM
15. 2026-05-31
    days on market $49,000 Active 211 DOM
16. 2026-05-30
    days on market $49,000 Active 210 DOM
17. 2026-02-09
    price $49,000
18. 2026-01-06
    price $56,000
19. 2025-11-01
    listed $59,900 Active

ⓘ 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: $122 · $10/mo
• Projected year-2 tax: $372 · $31/mo
• Expected delta: +$250/yr (+$21/mo · 204.4%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 33 unhealthy d/yr today · 37 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,199
• − Mortgage interest: −$2,745
• − Property taxes: −$122
• − Insurance: −$245
• − Repairs & maintenance: −$1,616
• − Management: −$1,616
• − Depreciation: −$1,425
• Taxable income: $12,430
• Est. tax owed @ 24.0%: −$2,983
• After-tax cash flow: $9,524/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: Burton Elementary
• NCES district ID: 0606570
• Math proficiency: 31% ▲ 4.00%
• Reading proficiency: 42% ▲ 3.00%
• Median HH income: $57,171
• Composite: 34.83/100
• National rank: #10012
• State rank: #805 of 1400 in CA

Livability — Porterville

• Score: 60/100
• State rank: #561
• US rank: #18537

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Porterville, CA
• County: Tulare County · 323,826 people
• City population: 80,467
• Metro: Visalia, CA
• Population (ZIP): 80,467
• Household income: $59,704
• Rent vs Own: 44.4% rent · 55.6% own
• Severe rent burden: 3028.0

Population outlook (Tulare County) Hauer SSP2

• Today (2025): 484,681 people
• By 2030: 496,241 · +2.4%
• By 2040: 518,507 · +7.0%
• By 2050: 534,920 · +10.4%
• By 2075: 548,417 · +13.2%
• By 2100: 513,085 · +5.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (72%)
• Race & ethnicity: Hispanic / Latino 72% Two or more races 23% White 21% Native American 3% Asian 2%
• Hispanic origin (detail): Mexican 69%
• Common ancestry: Iranian 1%
• Foreign-born: 26% · Canada
• Languages at home: 45% English-only · Spanish 52% Tagalog/Filipino 1% Arabic 1%

Political lean MEDSL · Tulare

• 2024 margin: Strong R (+20.7) · D 38.5% · R 59.2% · Other 2.3%
• 2008→2024 swing: -5.4pp toward R · 2008: -15.3pp · 2024: -20.7pp
• All cycles: 2024: R+20.7 2020: R+7.8 2016: R+12.1 2012: R+17.8 2008: R+15.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -375.52%
• Current HPI: 362.656
• Rent YoY: ▲ 4.07%
• Metro: Visalia, 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

-18.2% since first listed

3 events — show timeline

• 2026-02-09 Price Changed $49,000 TCMLS
• 2026-01-06 Price Changed $56,000 TCMLS
• 2025-11-01 Listed $59,900 TCMLS

Property tax history

-0.6%/yr

Latest (2021): $122 · -0.1% YoY. Source: county tax records.