435 N Valeria St · Fresno, CA 93701

$1,499,900

20 bd · 10.0 ba · 8,580 sqft · MultiFamily public records · 30 Days on market

Built 1972 0.29 ac lot

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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 +15.9/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +4.9/10.0
• 1% rule +3.4/10.0
• Livability +3.1/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 10 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Offered to the market for the first time in over two decades, 435 N Valeria Street is a fully-occupied 10-unit apartment community in Fresno's established Jefferson neighborhood. Current ownership has held the property since 2003, giving a new buyer the rare opportunity to acquire a stabilized building that hasn't been actively shopped in 23 years. The asset features an all 2-bedroom unit mix across 8,580 SF of improvements on a 12,500 SF lot, with covered parking in the back. A wrought iron fence along the back alley secures tenant vehicles and trash receptacles. An on-site laundry room is in place but currently inactive; brand new washers and dryers will convey with the sale, allowing the

Key facts

• On site laundry room
• Secured rear access
• Wrought iron fence

Tags

• 10 UNIT APARTMENT COMMUNITY
• SECURED REAR ACCESS
• ON SITE LAUNDRY ROOM
• WROUGHT IRON FENCE

Property features AI

Exterior

• Parking: Carport
• Utilities: Electric service available; Public utilities
• Home design: Multi-family property
• Construction: Stucco exterior; Wood and composition roofs; Concrete perimeter foundation; Built as multi-family (year built not provided)
• Exterior features: Urban lot setting; Two levels

Interior

• Bathrooms: 10 bathrooms
• Heating & cooling: Central heat/air
• Interior features: Central heating and cooling

What this means for you Summary

Snapshot

• This is a 10 × 2-bed/1.0-bath units multifamily listed at $1.50M.

Deal economics

• At list price, monthly cash flow is $709 ($9k/yr) — positive. Per door: $71/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.25M (16.5% below list).
• Recommended offer: $1.25M (16.5% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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+, schools D.
• 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.
• Market conditions: 41 active listings in the ZIP; lower-income renter base — watch delinquency; 2,426 units permitted in Fresno County in 2024 (296 in 5+ unit buildings).
• At $12,528/mo this rent would consume 459% of the median local household income ($33k/yr) (locally 1072% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $160k of equity ($10k loan paydown + $150k appreciation (10.0% local appreciation)).
• Fresno County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $420k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$258k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($1.48M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 24y ago 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.
• Current owner paid $300k; list at $1.50M implies a 400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $1,252,800 (16.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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 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.

Investment metrics

• 1% rule: 0.84% ✗
• Cap rate: 6.86%
• Cash-on-cash: 2.03%
• DSCR: 1.09
• GRM: 10.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.7%
• Equity multiple: 3.05×
• Total profit: $861,518
• Equity at exit: $1,351,229

10-year hold

• IRR: 22.6%
• Equity multiple: 6.95×
• Total profit: $2,500,447
• Equity at exit: $2,913,976

Cash invested: $419,972 (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 93701

• Home prices YoY: 6.4%
• Active inventory: 41
• Price-to-rent: 99.8×

Monthly cashflow live

• Estimated rent: $12,528 high
• Mortgage (P&I): −$7,866
• Tax from tax record: −$697 /mo · $8,368/yr
• Insurance: −$625
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,631
• Net cashflow: $709

Break-even live

Break-even rent $11,630

Max offer price $1,499,900

Occupancy floor 89%

Sensitivity live

Price	-10% $1,558	-5% $1,134	+0% $709	+5% $285	+10% $-140
Rent	-10% $-281	-5% $214	+0% $709	+5% $1,204	+10% $1,699
Rate	-1.0pp $1,465	-0.5pp $1,091	base $709	+0.5pp $321	+1.0pp $-75

10-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 10× units	2	1	$12,530
Total (10 units)			$12,528

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: $374,975
• Closing costs: $44,997
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $1,499,900 Active 30 DOM
2. 2026-06-18
   days on market $1,499,900 Active 27 DOM
3. 2026-06-17
   days on market $1,499,900 Active 26 DOM
4. 2026-06-16
   days on market $1,499,900 Active 25 DOM
5. 2026-06-15
   days on market $1,499,900 Active 24 DOM
6. 2026-06-13
   days on market $1,499,900 Active 22 DOM
7. 2026-06-10
   days on market $1,499,900 Active 19 DOM
8. 2026-06-09
   days on market $1,499,900 Active 18 DOM
9. 2026-06-08
   days on market $1,499,900 Active 17 DOM
10. 2026-06-07
    days on market $1,499,900 Active 16 DOM
11. 2026-06-05
    days on market $1,499,900 Active 13 DOM
12. 2026-06-03
    days on market $1,499,900 Active 12 DOM
13. 2026-06-02
    days on market $1,499,900 Active 11 DOM
14. 2026-06-01
    days on market $1,499,900 Active 10 DOM
15. 2026-05-31
    days on market $1,499,900 Active 9 DOM
16. 2026-05-22
    listed $1,499,900 Active
17. 2003-01-20
    soldstatus $300,000
18. 2003-01-17
    soldstatus $300,000
19. 2002-02-06
    historical
20. 2002-02-06
    price $305,000
21. 2002-02-05
    listed $300,000
22. 1993-04-19
    soldstatus $197,000
23. 1990-01-30
    soldstatus $180,000
24. 1990-01-30
    soldstatus $260,000

ⓘ 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: $8,368 · $697/mo
• Projected year-2 tax: $11,399 · $950/mo
• Expected delta: +$3,031/yr (+$253/mo · 36.2%)

ⓘ 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 1/10 Low
• 🌡 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 · 44 by 30 yrs out

Taxation est. · year 1

• Rental income: $150,336
• − Mortgage interest: −$84,018
• − Property taxes: −$8,368
• − Insurance: −$7,500
• − Repairs & maintenance: −$12,027
• − Management: −$12,027
• − Depreciation: −$43,633
• Taxable loss: −$17,237
• Est. tax savings @ 24.0%: +$4,137
• After-tax cash flow: $12,647/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: 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): 9,808
• Household income: $32,768
• Rent vs Own: 85.6% rent · 14.4% own
• Severe rent burden: 1072.0

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: Predominantly Hispanic (77%)
• Race & ethnicity: Hispanic / Latino 77% Two or more races 23% White 10% Black 6% Asian 4% Native American 3%
• Hispanic origin (detail): Mexican 75%
• Common ancestry: Scotch-Irish 1% Italian 1%
• Foreign-born: 32% · Canada
• Languages at home: 33% English-only · Spanish 61% Other Asian/Pacific 3%

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: ▲ 27.24%
• Current HPI: 452.1844
• Rent YoY: —
• 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

+733.3% since first listed

9 events — show timeline

• 2026-05-22 Listed $1,499,900 FRESNOMLS
• 2003-01-20 Sold (MLS) $300,000 FRESNOMLS
• 2003-01-17 Sold (Public Records) $300,000 Public Records
• 2002-02-06 Price Changed $305,000 FRESNOMLS
• 2002-02-06 Delisted — FRESNOMLS
• 2002-02-05 Listed $300,000 FRESNOMLS
• 1993-04-19 Sold (Public Records) $197,000 Public Records
• 1990-01-30 Sold (Public Records) $260,000 Public Records
• 1990-01-30 Sold (Public Records) $180,000 Public Records

Property tax history

+5.9%/yr

Latest (2025): $8,368 · +3.9% YoY. Source: county tax records.