3346 W Kruger Ave

Riverdale, CA 93656

$200,000D

2 bd · 1.0 ba · 1,012 sqft · Built 1950 · SingleFamily · Pending · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,100/mo
• Mortgage (P&I): −$1,049
• Tax + insurance: −$219
• HOA: −$0
• Vac / Maint / Mgmt: −$231
• Net cashflow: $-398/mo
• Annual: $-4,780/yr
• Cap rate: 3.90%
• Cash-on-cash: -8.54%
• DSCR: 0.62
• 1% rule: 0.55%
• Cash to close: $56,000

Investor read

• This is a 2-bed/1.0-bath single-family listed at $200k.
• At list price, monthly cash flow is $-398 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $130k (35.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $110k (45.0% below list).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $110k (45.0% below list) — sets the bar for 1% rule.
• In year one you build about $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Location reads 53/100 on livability (#959 in CA) — a working-class tenant base; expect higher turnover. Watch: cost of living C-, commute D, schools F.
• Riverdale Joint Unified (town): math 20% / reading 37% proficiency, ranked #366 of 517 in CA (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 13 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 2,426 units permitted in Fresno County in 2024 (296 in 5+ unit buildings).
• Fresno County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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?
• 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.
• 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.
• 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.