2400 W Midvalley St Unit L3 · Visalia, CA 93277

$38,000

2 bd · 2.0 ba · 1,400 sqft · Manufactured · 431 Days on market

Built 1967 ↓ 49% 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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.6/5.0
• Rent growth +3.3/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautiful home located in desirable mobile home park at WestLake Village (55+) in Visalia. Well maintained home, spacious, extended patio, beautiful scenery with ponds friendly neighborhood includes pool and club house

Key facts

• Pool
• Club house
• Extended patio

Tags

• EXTENDED PATIO
• POOL
• CLUB HOUSE

Property features AI

Exterior

• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected; Natural gas connected; Natural gas available
• Home design: Manufactured home (double wide) in a park; No one above
• Construction: Aluminum skirting; 20 ft by 55 ft mobile dimensions
• Exterior features: Composition roof; Private pool; Community pool

Interior

• Kitchen: Gas range; Refrigerator
• Bathrooms: 2 full bathrooms
• Interior features: Gas range; Refrigerator; Water heater; Central heating; Central air
• Laundry & utility: Water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $38k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $38k).
• Recommended offer: $33k (12.0% below list) — sets the bar for market timing.
• Cap rate 47.1% vs local median 3.3% in Visalia — 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 72/100 on livability (#196 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, employment B; Watch: amenities D, crime D-, cost of living F.
• Tulare Joint Union High (suburban): math 18% / reading 52% proficiency, ranked #280 of 517 in CA (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.3%/yr); 233 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,447 units permitted in Tulare County in 2024 (307 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $263 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 + 3.3% rent growth), your $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 431 days — a 12% lower offer ($33k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $37k (49%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $33,440 (12.0% below list)

Questions for the listing agent

1. It's been on market 431 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
6. 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?
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: 5.17% ✓
• Cap rate: 47.05%
• Cash-on-cash: 145.57%
• DSCR: 7.48
• GRM: 1.6

CMA / ARV

• ARV (on-the-fly): $88,200
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2400 W Midvalley Ave Unit F-1	0.04mi	2/2.0	1,400 (0%)	0mo	$68,000	$49	98
2400 W Midvalley Ave Unit R5	0.00mi	2/2.0	1,440 (+3%)	7mo	$175,000	$122	90
2627 W Midvalley Ave #104	0.24mi	2/2.0	1,380 (-1%)	4mo	$65,000	$47	83
2627 W Midvalley Ave #107	0.24mi	2/2.0	1,440 (+3%)	2mo	$95,000	$66	82
4648 S Terrace St	0.16mi	2/2.0	1,296 (-7%)	1mo	$294,000	$227	80
2627 W Midvalley Ave #88	0.27mi	2/2.0	1,440 (+3%)	4mo	$72,000	$50	80
2627 W Midvalley Ave #5	0.24mi	3/2.0 (+1)	1,440 (+3%)	3mo	$65,000	$45	77
2627 W Midvalley Ave #109	0.24mi	2/2.0	1,344 (-4%)	8mo	$90,000	$67	75
2627 Midvalley #3	0.24mi	2/2.0	1,248 (-11%)	6mo	$79,000	$63	65
2627 W Midvalley Spc 3 Ave	0.28mi	2/2.0	1,248 (-11%)	6mo	$79,000	$63	63
26814 S Mooney Blvd Unit D156	0.42mi	3/2.0 (+1)	1,248 (-11%)	6mo	$75,000	$60	52
26814 S Mooney Blvd Unit D173	0.44mi	3/2.0 (+1)	1,200 (-14%)	8mo	$61,400	$51	44

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 · 3.32% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.21×
• Total profit: $76,713
• Equity at exit: $5,666

10-year hold

• IRR: —
• Equity multiple: 17.48×
• Total profit: $175,397
• Equity at exit: $3,286

Cash invested: $10,640 (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 93277

• Rents YoY: 3.3%
• Active inventory: 233
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $1,966 high
• Mortgage (P&I): −$199
• Tax est. 1.5%: −$48 /mo · $570/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$413
• Net cashflow: $1,291

Break-even live

Break-even rent $332

Max offer price $38,000

Occupancy floor 29%

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: $9,500
• Closing costs: $1,140
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3940 S Shady Ct Unit 123 Visalia, CA	2.0	1.0	910	$1,695	$1.86	43d	1	0.38mi
3940 S Shady Ct Apt 107 Visalia, CA	2.0	2.0	950	$1,695	$1.78	43d	1	0.38mi
3919 S Sallee Ct Visalia, CA	3.0	2.0	1642	$2,400	$1.46	21d	1	0.38mi
3940 S Shady Ct Apt 223 Visalia, CA	2.0	2.0	910	$1,950	$2.14	43d	1	0.39mi
2546 W Victor Ct Unit 102 Visalia, CA	3.0	2.0	1200	$1,995	$1.66	43d	1	0.81mi
3837 W Rialto Ave Visalia, CA	3.0	2.0	1475	$2,100	$1.42	43d	1	0.85mi
3909 W Nellis Ave Visalia, CA	3.0	2.0	1475	$2,100	$1.42	21d	1	0.88mi
3922 W Nellis Ave Visalia, CA	3.0	2.0	1475	$2,500	$1.69	43d	1	0.88mi
2704 W Whitendale Ave Visalia, CA	3.0	2.0	1583	$1,895	$1.20	21d	1	1.10mi
1917 W Whitendale Ave Unit 1917 Visalia, CA	2.0	2.0	1048	$1,295	$1.24	43d	1	1.11mi
1107 W Victor Ave Visalia, CA	3.0	2.0	1710	$2,500	$1.46	13d	1	1.18mi
3618 W Country Ave Visalia, CA	3.0	2.0	1618	$2,095	$1.29	43d	1	1.32mi
324 W Kimball Ave Visalia, CA	3.0	2.0	1297	$2,500	$1.93	13d	1	1.46mi

Listing history 27 events

1. 2026-06-18
   days on market $38,000 Active 431 DOM
2. 2026-06-17
   days on market $38,000 Active 430 DOM
3. 2026-06-16
   days on market $38,000 Active 429 DOM
4. 2026-06-15
   days on market $38,000 Active 428 DOM
5. 2026-06-14
   days on market $38,000 Active 426 DOM
6. 2026-06-13
   days on market $38,000 Active 425 DOM
7. 2026-06-10
   days on market $38,000 Active 423 DOM
8. 2026-06-09
   days on market $38,000 Active 422 DOM
9. 2026-06-08
   days on market $38,000 Active 421 DOM
10. 2026-06-07
    days on market $38,000 Active 420 DOM
11. 2026-06-03
    days on market $38,000 Active 416 DOM
12. 2026-06-02
    days on market $38,000 Active 415 DOM
13. 2026-06-01
    days on market $38,000 Active 414 DOM
14. 2026-05-31
    days on market $38,000 Active 413 DOM
15. 2026-05-30
    days on market $38,000 Active 412 DOM
16. 2026-04-24
    status Active
17. 2026-03-30
    status Pending
18. 2026-02-12
    price $38,000
19. 2025-12-03
    price $40,000
20. 2025-10-08
    price $42,000
21. 2025-09-16
    price $44,999
22. 2025-07-28
    price $48,000
23. 2025-06-19
    price $54,000
24. 2025-05-08
    price $59,000
25. 2025-04-22
    price $64,000
26. 2025-04-08
    price $69,000
27. 2025-03-18
    listed $75,000 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 4/10 Moderate FEMA zone X (shaded) · 21% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 40 unhealthy d/yr today · 43 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,595
• − Mortgage interest: −$2,129
• − Property taxes: −$570
• − Insurance: −$190
• − Repairs & maintenance: −$1,888
• − Management: −$1,888
• − Depreciation: −$1,105
• Taxable income: $15,825
• Est. tax owed @ 24.0%: −$3,798
• After-tax cash flow: $11,690/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: Tulare Joint Union High
• NCES district ID: 0639930
• Math proficiency: 18% ▼ -6.00%
• Reading proficiency: 52% ▼ -1.00%
• Median HH income: $46,858
• Composite: 29.91/100
• National rank: #6384
• State rank: #280 of 517 in CA

Livability — Visalia

• Score: 72/100
• State rank: #196
• US rank: #6351

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Visalia, CA
• County: Tulare County · 323,826 people
• City population: 163,333
• Metro: Visalia, CA
• Population (ZIP): 53,985
• Household income: $80,548
• Rent vs Own: 40.3% rent · 59.7% own
• Severe rent burden: 1896.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Hispanic / Latino 48% White 40% Two or more races 21% Asian 4% Black 2% Native American 2%
• Hispanic origin (detail): Mexican 44%
• Common ancestry: Russian 3% Iranian 2% Italian 2%
• Foreign-born: 12% · Canada, China
• Languages at home: 73% English-only · Spanish 22% Chinese 2% Other Asian/Pacific 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: ▼ -371.43%
• Current HPI: 310.349
• Rent YoY: ▲ 3.32%
• 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

-49.3% since first listed

12 events — show timeline

• 2026-04-24 Relisted — TCMLS
• 2026-03-30 Pending — TCMLS
• 2026-02-12 Price Changed $38,000 TCMLS
• 2025-12-03 Price Changed $40,000 TCMLS
• 2025-10-08 Price Changed $42,000 TCMLS
• 2025-09-16 Price Changed $44,999 TCMLS
• 2025-07-28 Price Changed $48,000 TCMLS
• 2025-06-19 Price Changed $54,000 TCMLS
• 2025-05-08 Price Changed $59,000 TCMLS
• 2025-04-22 Price Changed $64,000 TCMLS
• 2025-04-08 Price Changed $69,000 TCMLS
• 2025-03-18 Listed $75,000 TCMLS