5118 E Ashlan Ave #102 · Fresno, CA 93727

$197,500

3 bd · 2.0 ba · 977 sqft · SingleFamily · 1 Days on market

Built 1973 Good condition 718 sqft lot $202/sqft · 11% below area Est $222k · 11% under $400/mo HOA · 20% of rent ↓ 14% since listing

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Why this score? — see what drove the D 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).

• ARV discount +12.4/15.0
• Cash flow +9.1/30.0
• 1% rule +5.3/10.0
• Condition / age +4.0/5.0
• Rent growth +3.2/5.0
• Livability +3.1/5.0
• Schools +2.7/10.0
• DSCR +2.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Beautiful and highly desirable Palm Lakes 2 story PUD with 3 bedroom and 2 bath. Recently remodeled with new interior paint, new carpet, new bottom kitchen cabinet, new kitchen counter tops, new appliances and much more. Go and Sell!!

Key facts

• 2 story pud
• Recently remodeled
• New carpet

Tags

• 2 STORY PUD
• RECENTLY REMODELED
• NEW INTERIOR PAINT
• NEW CARPET
• NEW BOTTOM KITCHEN CABINET
• NEW KITCHEN COUNTER TOPS

Property features AI

Finance

• HOA & community: Homeowners association with community pool; Association fee approximately $400 monthly

Exterior

• Utilities: Electric service on; Public sewer; Public utilities
• Home design: Single family residence
• Construction: Stucco and wood siding exterior; Composition roof; Concrete foundation
• Exterior features: Two levels; Urban lot; Private in-ground pool (community); Lot dimensions approximately 16 x 45

Interior

• Kitchen: Range/oven (full-size); Dishwasher; Microwave
• Bathrooms: 2 bathrooms
• Heating & cooling: Central heat and central cool
• Interior features: Tub/shower and separate shower in bathrooms; Furnace and central air conditioning
• Laundry & utility: Laundry located inside

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $198k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-153 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $175k (11.2% below list).
• Meets the 1% rule at list price ($2k rent vs $198k).
• Recommended offer: $175k (11.2% below list) — sets the bar for cash-flow.
• Cap rate 5.4% 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+, crime F.
• 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.
• Zoned schools: Viking Elementary (712 students, 91% FRL); Ahwahnee Middle (639 students, 86% FRL); Herbert Hoover High (math 14% / reading 39%, grade F, #804 of 1,170 statewide, top 69%, 2,005 students, 81% FRL).
• Market conditions: Rents rising (+3.0%/yr); 327 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,426 units permitted in Fresno County in 2024 (296 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.
• Fresno County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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.

Recommended offer $175,320 (11.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 1.03% ✓
• Cap rate: 5.36%
• Cash-on-cash: -3.33%
• DSCR: 0.85
• GRM: 8.1

CMA / ARV

• ARV (median comp): $221,576
• List price: $197,500
• Delta: -10.41%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5118 E Ashlan Ave #112	0.00mi	2/1.5 (-1)	977 (0%)	17mo	$206,000	$211	78
5138 E Ashlan Ave #102	0.05mi	2/1.5 (-1)	977 (0%)	22mo	$198,000	$203	72
741 W Holland	0.40mi	3/1.8	1,100 (+13%)	2mo	$350,000	$318	58
896 W Holland Ave	0.52mi	3/1.8	1,100 (+13%)	0mo	$375,000	$341	54
916 W Holland Ave	0.54mi	3/1.8	1,100 (+13%)	0mo	$365,000	$332	53
621 W Pat Dr W	0.63mi	3/1.8	1,100 (+13%)	0mo	$325,000	$295	48
2923 Fine Ave	0.60mi	3/2.0	1,100 (+13%)	4mo	$345,000	$314	48
414 W Rialto Ave	0.72mi	3/1.8	1,100 (+13%)	0mo	$345,000	$314	44
650 W Norwich Ave	0.51mi	3/1.8	1,100 (+13%)	16mo	$373,500	$340	42
905 W National Ave	0.52mi	3/2.0	1,100 (+13%)	22mo	$370,000	$336	36

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 · 2.95% rent growth · sell at horizon

5-year hold

• IRR: -21.7%
• Equity multiple: 0.25×
• Total profit: $-41,592
• Equity at exit: $29,448

10-year hold

• IRR: -15.3%
• Equity multiple: 0.13×
• Total profit: $-48,085
• Equity at exit: $17,076

Cash invested: $55,300 (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 93727

• Rents YoY: 3.0%
• Active inventory: 327
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,040 high
• Mortgage (P&I): −$1,036
• Tax est. 1.5%: −$247 /mo · $2,962/yr
• Insurance: −$82
• HOA: −$400
• Vacancy / Maint / Mgmt: −$428
• Net cashflow: $-153

Break-even live

Break-even rent $2,234

Max offer price $175,320

Occupancy floor —

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: $49,375
• Closing costs: $5,925
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5138 E Ashlan Ave Fresno, CA	2.0	1.5	977	$2,469	$2.53	43d	1	0.07mi
551 W Ashlan Ave Unit 101 858 Clovis, CA	2.0	2.0	1000	$1,450	$1.45	43d	1	0.10mi
2967 Terry Ave Clovis, CA	3.0	1.5	1099	$2,095	$1.91	23d	1	0.42mi
400 W Gettysburg Ave Unit 243A Clovis, CA	2.0	1.0	904	$1,500	$1.66	2d	1	0.56mi
400 W Gettysburg Ave Unit 116B Clovis, CA	2.0	2.0	994	$1,795	$1.81	43d	1	0.56mi
400 W Gettysburg Ave Unit 206B Clovis, CA	2.0	1.0	904	$1,500	$1.66	23d	1	0.56mi
400 W Gettysburg Ave Apt 223A Clovis, CA	2.0	2.0	994	$1,700	$1.71	43d	1	0.56mi
400 W Gettysburg Ave Apt 204A Clovis, CA	2.0	1.0	904	$1,600	$1.77	43d	1	0.56mi
400 W Gettysburg Ave Unit 215B Clovis, CA	2.0	2.0	994	$1,780	$1.79	43d	1	0.56mi
400 W Gettysburg Ave Apt 208A Clovis, CA	2.0	1.0	904	$1,500	$1.66	43d	1	0.56mi
400 W Gettysburg Ave Unit 143A Clovis, CA	2.0	1.0	904	$1,650	$1.83	21d	1	0.56mi
400 W Gettysburg Ave Unit 101A Clovis, CA	2.0	1.0	904	$1,580	$1.75	23d	1	0.56mi
2800 Willow Ave Clovis, CA	1.0–2.0	1.0–2.0	774	$1,633	$2.11	1d	7	0.65mi
2777 Willow Ave Clovis, CA	1.0–2.0	1.0	812	$1,769	$2.18	1d	8	0.68mi
2810 Willow Ave Clovis, CA	2.0	2.0	928	$1,623	$1.75	23d	1	0.71mi
2810 Willow Ave Clovis, CA	2.0	2.0	890	$1,572	$1.77	10d	1	0.71mi
835 W Pico Ave Clovis, CA	1.0–2.0	1.0	761	$1,595	$2.10	2d	3	0.76mi
2243 Helm Ave Unit 102 Clovis, CA	2.0	2.0	1100	$1,925	$1.75	21d	1	0.89mi
189 W Santa Ana Ave Apt F Clovis, CA	2.0	1.0	800	$1,450	$1.81	2d	1	0.96mi
33 W Santa Ana Ave Apt A Clovis, CA	2.0	1.5	900	$1,450	$1.61	2d	1	1.07mi
4885 N Chestnut Ave Fresno, CA	2.0	1.5	1125	$1,565	$1.39	43d	1	1.27mi
3143 Matoian Way Fresno, CA	1.0–2.0	1.0–2.0	971	$1,960	$2.02	43d	1	1.34mi
5082 Primitivo Way Fresno, CA	1.0–2.0	1.0	847	$1,945	$2.30	11d	2	1.37mi
4745 E Cornell Ave Fresno, CA	2.0	1.0	1000	$1,695	$1.70	23d	1	1.39mi

HOA detail

• Monthly dues: $400 · $4,800/yr

Listing history 23 events

1. 2026-06-19
   pricedays on marketlisting id $197,500 Active 1 DOM
2. 2026-06-18
   days on market $198,500 Active 70 DOM
3. 2026-06-17
   days on market $198,500 Active 69 DOM
4. 2026-06-16
   days on market $198,500 Active 68 DOM
5. 2026-06-15
   days on market $198,500 Active 67 DOM
6. 2026-06-13
   pricedays on market $198,500 Active 65 DOM
7. 2026-06-10
   days on market $199,500 Active 62 DOM
8. 2026-06-09
   days on market $199,500 Active 61 DOM
9. 2026-06-08
   days on market $199,500 Active 60 DOM
10. 2026-06-07
    days on market $199,500 Active 59 DOM
11. 2026-06-05
    days on market $199,500 Active 56 DOM
12. 2026-06-03
    days on market $199,500 Active 55 DOM
13. 2026-06-02
    days on market $199,500 Active 54 DOM
14. 2026-06-01
    days on market $199,500 Active 53 DOM
15. 2026-05-31
    days on market $199,500 Active 52 DOM
16. 2026-05-15
    price $199,500 234-char remark
17. 2026-05-13
    price $208,000 234-char remark
18. 2026-04-24
    price $209,000 234-char remark
19. 2026-04-09
    listed $214,500 Active 234-char remark
20. 2026-03-29
    price $219,500
21. 2026-03-26
    price $224,900
22. 2026-03-12
    price $227,900
23. 2026-02-26
    listed $229,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $24,480
• − Mortgage interest: −$11,063
• − Property taxes: −$2,962
• − Insurance: −$988
• − Repairs & maintenance: −$1,958
• − Management: −$1,958
• − HOA: −$4,800
• − Depreciation: −$5,745
• Taxable loss: −$4,995
• Est. tax savings @ 24.0%: +$1,199
• After-tax cash flow: $-640/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This well-maintained, recently remodeled townhome is move-in ready with a good condition score and potential for further value enhancement.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Replace carpet with hardwood flooring — Improves aesthetics and increases value
• Both Install smart home devices — Enhances convenience and adds modern appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Replace carpet with hardwood flooring — Improves aesthetics and increases value ↑
• Both Install smart home devices — Enhances convenience and adds modern appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 84,107
• Household income: $87,466
• Rent vs Own: 36.2% rent · 63.8% own
• Severe rent burden: 2745.0

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 0.68)
• Race & ethnicity: Hispanic / Latino 46% Asian 27% Two or more races 22% White 18% Black 5% Native American 2%
• Hispanic origin (detail): Mexican 42%
• Common ancestry: Russian 1% Slovak 1% Portuguese 1%
• Foreign-born: 22% · Canada, China, Vietnam
• Languages at home: 54% English-only · Spanish 25% Other Asian/Pacific 13% Other Indo-European 6%

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: ▼ -317.54%
• Current HPI: 379.1959
• Rent YoY: ▲ 2.95%
• 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

-13.8% since first listed

10 events — show timeline

• 2026-06-18 Listed $197,500 FRESNOMLS
• 2026-06-11 Price Changed $198,500 FRESNOMLS
• 2026-05-15 Price Changed $199,500 FRESNOMLS
• 2026-05-13 Price Changed $208,000 FRESNOMLS
• 2026-04-24 Price Changed $209,000 FRESNOMLS
• 2026-04-09 Listed $214,500 FRESNOMLS
• 2026-03-29 Price Changed $219,500 FRESNOMLS
• 2026-03-26 Price Changed $224,900 FRESNOMLS
• 2026-03-12 Price Changed $227,900 FRESNOMLS
• 2026-02-26 Listed $229,000 FRESNOMLS