581 N Crawford #94

Dinuba, CA 93618

$32,000B-

1 bd · 1.0 ba · 588 sqft · Built 1978 · Land · Pending · 377 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,085/mo
• Mortgage (P&I): −$168
• Tax + insurance: −$176
• HOA: −$0
• Vac / Maint / Mgmt: −$228
• Net cashflow: $514/mo
• Annual: $6,164/yr
• Cap rate: 30.14%
• Cash-on-cash: 85.17%
• DSCR: 4.79
• 1% rule: 3.39%
• Cash to close: $8,960

Investor read

• This is a 1-bed/1.0-bath land listed at $32k.
• At list price, monthly cash flow is $514 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $32k).
• It's been on market 377 days — a 12% lower offer ($28k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $28k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $221 of loan paydown is wiped out by about $960 of value loss. Plan a longer hold.
• Location reads 61/100 on livability (#517 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+; Watch: crime F, amenities F, employment F.
• Dinuba Unified (town): math 26% / reading 62% proficiency, ranked #215 of 517 in CA (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: John F. Kennedy Elementary (494 students, 82% FRL); Washington Intermediate (1,010 students, 81% FRL); Dinuba High (math 27% / reading 63%, grade D-, #425 of 1,170 statewide, top 37%, 2,119 students, 79% FRL).
• Watch-outs: flood insurance adds $122/mo.
• Market conditions: 99 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 1,447 units permitted in Tulare County in 2024 (307 in 5+ unit buildings).
• 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 + 3.0% rent growth), your $9k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: in FEMA flood zone AO (mandatory federal flood insurance); severe wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 30.1% vs local median 2.7% in Dinuba — 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.

Questions for listing agent

• It's been on market 377 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.