835 Nevada Ave · Los Banos, CA 93635

$214,900

3 bd · 1.5 ba · 1,218 sqft · SingleFamily public records · 2 Days on market

Built 1956 6,473 sqft lot Est $362k · 41% under

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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 +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +4.4/10.0
• Rent growth +4.1/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks

In the right hands, this rough gem will be someone's cozy sanctuary. There are 2 living areas, 3 large bedrooms, original wood floors, dual-pane windows, a front porch for relaxing, a large backyard with established landscaping & a sturdy tree house. It's in an established neighborhood within walking distance to schools, parks, downtown, stores & restaurants. Though the inspection reports show the work needed is mostly cosmetic, this is a cash or hard money only property. Reports available upon request.

Key facts

• Dual-pane windows
• Front porch
• Large backyard

Tags

• ORIGINAL WOOD FLOORS
• DUAL-PANE WINDOWS
• FRONT PORCH
• LARGE BACKYARD
• ESTABLISHED LANDSCAPING
• TREE HOUSE

Property features AI

Finance

• Other: Located in Merced County, Los Banos area; Street address: 835 Nevada Ave, Los Banos, CA 93635; Cross street: I Street; Directions: Take I Street to Nevada Street
• HOA & community: No association; Not a senior community

Exterior

• Parking: Attached garage with garage door opener; Garage faces the front; 2 garage spaces; Sidewalk/curb/gutter along driveway
• Security: Fenced front and back yard
• Utilities: Public water; Public sewer; Natural gas connected; 220 volt electric service; No irrigation system
• Home design: Detached single-family residence; Residential property; Fixer condition; Built in 1956; Composition roof
• Construction: Detached construction
• Exterior features: Front and back yard landscaping; Curb(s); Fenced yard (wood and metal)

Interior

• Kitchen: Counter with non-standard/other counter material
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Carpet; Linoleum; Wood
• Bathrooms: 1 full bathroom; 1 partial bathroom; Tub with shower over; Bathroom window
• Heating & cooling: Central heating; Central air conditioning; Ceiling fans
• Interior features: One-story layout; Living room fireplace; Street entrance; Family room; Dining room
• Laundry & utility: Laundry area located in the garage

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $327 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $201k (6.4% below list).
• Recommended offer: $201k (6.4% below list) — sets the bar for 1% rule.
• Cap rate 8.1% vs local median 3.4% in Los Banos — 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 68/100 on livability (#270 in CA) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, amenities B; Watch: commute F, cost of living F.
• Los Banos Unified (town): math 3% / reading 16% proficiency, ranked #503 of 517 in CA (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Henry Miller Elementary (712 students, 85% FRL); Los Banos Junior High (862 students, 79% FRL); Pacheco High (1,799 students, 82% FRL) — zoned schools average 82% FRL vs 62% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.5%/yr); 219 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% of comp listings sitting > 30 days — soft ceiling on asking rent; 459 units permitted in Merced County in 2024 (0 in 5+ unit buildings).
• This rent runs 36% of the median local income ($67k/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Merced County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 6.5% rent growth), your $60k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood 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 $201,076 (6.4% below list)

Questions for the listing agent

1. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.94% ✗
• Cap rate: 8.12%
• Cash-on-cash: 6.51%
• DSCR: 1.29
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $361,746
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
835 Nevada Ave	0.00mi	3/1.5	1,218 (0%)	0mo	$245,000	$201	100
465 Meyers Ln	0.52mi	3/2.0	1,213 (-0%)	3mo	$419,407	$346	70
469 Meyers Ln	0.52mi	3/2.0	1,213 (-0%)	3mo	$429,122	$354	70
925 W J St	0.48mi	3/2.0	1,226 (+1%)	5mo	$330,000	$269	70
1257 Arizona Ave	0.42mi	3/2.0	1,291 (+6%)	2mo	$414,000	$321	67
1130 Delaware Ave	0.30mi	3/2.0	1,311 (+8%)	8mo	$390,000	$297	65
840 W Maryland Ave	0.36mi	3/2.0	1,102 (-10%)	4mo	$285,000	$259	62
1117 Iowa Ave	0.37mi	3/1.0	1,117 (-8%)	6mo	$255,000	$228	62
410 Orange Ave	0.68mi	3/2.0	1,220 (+0%)	7mo	$389,900	$320	60
127 Willmott Ave	0.47mi	3/2.0	1,141 (-6%)	8mo	$399,900	$350	59
441 Lime Ave	0.67mi	3/2.0	1,145 (-6%)	3mo	$290,000	$253	54
941 Granada	0.54mi	3/2.0	1,382 (+14%)	4mo	$405,000	$293	47

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 · 6.53% rent growth · sell at horizon

5-year hold

• IRR: -2.9%
• Equity multiple: 0.89×
• Total profit: $-6,735
• Equity at exit: $32,042

10-year hold

• IRR: 10.0%
• Equity multiple: 1.88×
• Total profit: $53,117
• Equity at exit: $18,581

Cash invested: $60,172 (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 93635

• Rents YoY: 6.5%
• Active inventory: 219
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,011 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$45 /mo · $545/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $327

Break-even live

Break-even rent $1,597

Max offer price $214,900

Occupancy floor 79%

Sensitivity live

Price	-10% $448	-5% $387	+0% $327	+5% $266	+10% $205
Rent	-10% $168	-5% $247	+0% $327	+5% $406	+10% $485
Rate	-1.0pp $435	-0.5pp $381	base $327	+0.5pp $271	+1.0pp $214

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: $53,725
• Closing costs: $6,447
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
918 Illinois Ave Unit 07 Los Banos, CA	2.0	1.0	774	$1,495	$1.93	45d	1	0.12mi
728 Illinois Ave Unit 4 Los Banos, CA	2.0	1.0	760	$1,375	$1.81	15d	1	0.13mi
938 Illinois Ave Unit 11 Los Banos, CA	2.0	1.0	774	$1,395	$1.80	45d	1	0.15mi
415 W J St Los Banos, CA	3.0	2.0	1320	$2,300	$1.74	15d	1	0.21mi
737 Betten St Los Banos, CA	2.0	2.0	1492	$2,300	$1.54	45d	1	0.54mi
406 Adams Ave Los Banos, CA	2.0	1.0	1116	$1,900	$1.70	15d	1	0.61mi
645 E St Los Banos, CA	3.0	2.0	1104	$1,900	$1.72	15d	1	0.64mi
473 Driftwood Ave Los Banos, CA	3.0	2.0	1070	$1,950	$1.82	45d	1	0.95mi
254 Driftwood Ave Los Banos, CA	3.0	2.0	1322	$2,300	$1.74	45d	1	0.96mi
115 N Santa Rita St Los Banos, CA	2.0	1.0	756	$1,600	$2.12	45d	1	1.05mi
1052 Jefferson Ave Los Banos, CA	3.0	2.0	1424	$2,900	$2.04	15d	1	1.07mi
1018 Santa Barbara St Los Banos, CA	3.0	2.0	1485	$2,150	$1.45	45d	1	1.18mi
1306 Canal Farm Ln Los Banos, CA	2.0	1.0	766	$1,775	$2.32	45d	1	1.20mi

Listing history 3 events

1. 2026-06-07
   statusdays on market $214,900 Pending 2 DOM
2. 2026-06-01
   remarks 512-char remark
3. 2026-06-01
   listed $214,900 Active 1 DOM

ⓘ 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: $545 · $45/mo
• Projected year-2 tax: $1,633 · $136/mo
• Expected delta: +$1,088/yr (+$91/mo · 199.7%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 68% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 22 unhealthy d/yr today · 24 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,129
• − Mortgage interest: −$12,038
• − Property taxes: −$545
• − Insurance: −$1,074
• − Repairs & maintenance: −$1,930
• − Management: −$1,930
• − Depreciation: −$6,252
• Taxable income: $360
• Est. tax owed @ 24.0%: −$86
• After-tax cash flow: $3,833/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: Los Banos Unified
• NCES district ID: 0622740
• Math proficiency: 3% ▼ -23.00%
• Reading proficiency: 16% ▼ -23.00%
• Median HH income: $48,783
• Composite: 9.04/100
• National rank: #9875
• State rank: #503 of 517 in CA

Livability — Los Banos

• Score: 68/100
• State rank: #270
• US rank: #9141

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Los Banos, CA
• County: Merced County · 205,386 people
• City population: 50,149
• Metro: Merced, CA
• Population (ZIP): 50,149
• Household income: $67,129
• Rent vs Own: 41.3% rent · 58.7% own
• Severe rent burden: 1595.0

Population outlook (Merced County) Hauer SSP2

• Today (2025): 285,501 people
• By 2030: 293,437 · +2.8%
• By 2040: 308,808 · +8.2%
• By 2050: 321,011 · +12.4%
• By 2075: 338,497 · +18.6%
• By 2100: 330,493 · +15.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (73%)
• Race & ethnicity: Hispanic / Latino 73% White 20% Two or more races 12% Native American 4% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 68%
• Common ancestry: Russian 3% Slovak 1%
• Foreign-born: 28% · Canada, Vietnam
• Languages at home: 48% English-only · Spanish 49% Other Indo-European 2%

Political lean MEDSL · Merced

• 2024 margin: Toss-up / Even · D 46.5% · R 50.9% · Other 2.6%
• 2008→2024 swing: -12.7pp toward R · 2008: 8.3pp · 2024: -4.4pp
• All cycles: 2024: R+4.4 2020: D+10.6 2016: D+7.9 2012: D+5.4 2008: D+8.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -357.30%
• Current HPI: 217.6528
• Rent YoY: ▲ 6.53%
• Metro: Merced, 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

Property tax history

+1.9%/yr

Latest (2025): $545 · -1.0% YoY. Source: county tax records.