1228 Jefferson Ave · Clovis, CA 93612

$2,995,000

32 bd · 16.0 ba · 12,000 sqft · MultiFamily public records · 151 Days on market

Built 1965 0.62 ac lot

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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 +17.7/30.0
• ARV discount +7.5/15.0
• Schools +5.9/10.0
• DSCR +5.5/10.0
• Livability +3.8/5.0
• 1% rule +3.7/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 16 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 MLS

This well-maintained 16-unit multifamily property, located in the highly sought-after city of Clovis, presents an exceptional investment opportunity with both strong in-place income and future upside. The property is currently generating approximately $16,572 per month in gross rents, with clear potential to increase income by aligning rents with current market rates.Comprised of sixteen spacious 2-bedroom, 1-bathroom unitseach approximately 750 square feetthe property is in turnkey condition, offering minimal maintenance needs and a smooth transition for new ownership. An on-site laundry facility provides added convenience for tenants and an additional income stream for the owner.Set in a prime location with high rental demand, this asset offers investors immediate cash flow along with the opportunity for long-term appreciation and value growth. Don't miss the chance to acquire a consistent, high-performing asset in one of the Central Valley's most desirable rental markets.

Key facts

• Multifamily property
• Turnkey condition
• High rental demand

Tags

• MULTIFAMILY PROPERTY
• ON-SITE LAUNDRY FACILITY
• HIGH RENTAL DEMAND
• TURNKEY CONDITION

What this means for you Summary

Snapshot

• This is a 16 × 2-bed/1.0-bath units multifamily listed at $3.00M.

Deal economics

• At list price, monthly cash flow is $2k ($29k/yr) — positive. Per door: $151/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 $2.60M (13.2% below list).
• Recommended offer: $2.60M (13.2% below list) — sets the bar for 1% rule.
• Cap rate 7.3% vs local median 3.0% in Clovis — 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 76/100 on livability (#92 in CA, #3,307 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, employment A; Watch: amenities C-, health & safety D, cost of living F.
• Clovis Unified (suburban): math 58% / reading 72% proficiency, ranked #152 of 1,400 in CA (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Jefferson Elementary (582 students, 73% FRL); Clark Intermediate (1,462 students, 61% FRL); Clovis High (2,905 students, 48% FRL) — zoned schools average 61% FRL vs 32% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.6%/yr); 86 active listings in the ZIP; 2,426 units permitted in Fresno County in 2024 (296 in 5+ unit buildings).
• At $26,010/mo this rent would consume 468% of the median local household income ($67k/yr) (locally 2487% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $21k of loan paydown is wiped out by about $90k of value loss. Plan a longer hold.
• Fresno County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 151 days — a 12% lower offer ($2.64M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $1.02M; list at $3.00M implies a 192% 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 $2,601,000 (13.2% below list)

Questions for the listing agent

1. It's been on market 151 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. 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?
9. 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.
10. 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.
11. 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: 0.87% ✗
• Cap rate: 7.26%
• Cash-on-cash: 3.45%
• DSCR: 1.15
• GRM: 9.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.65% rent growth · sell at horizon

5-year hold

• IRR: -11.3%
• Equity multiple: 0.59×
• Total profit: $-342,125
• Equity at exit: $446,564

10-year hold

• IRR: -2.6%
• Equity multiple: 0.83×
• Total profit: $-142,246
• Equity at exit: $258,953

Cash invested: $838,600 (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 93612

• Rents YoY: 2.6%
• Active inventory: 86
• Price-to-rent: 153.5×

Monthly cashflow live

• Estimated rent: $26,010 high
• Mortgage (P&I): −$15,706
• Tax from tax record: −$1,184 /mo · $14,205/yr
• Insurance: −$1,248
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,462
• Net cashflow: $2,410

Break-even live

Break-even rent $22,959

Max offer price $2,995,000

Occupancy floor 86%

Sensitivity live

Price	-10% $4,106	-5% $3,258	+0% $2,410	+5% $1,562	+10% $715
Rent	-10% $355	-5% $1,383	+0% $2,410	+5% $3,438	+10% $4,465
Rate	-1.0pp $3,918	-0.5pp $3,172	base $2,410	+0.5pp $1,634	+1.0pp $845

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

Units	Beds	Baths	Est. rent
▸ 16× units	2	1	$26,016
Total (16 units)			$26,010

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: $748,750
• Closing costs: $89,850
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $2,995,000 Active 151 DOM
2. 2026-06-18
   days on market $2,995,000 Active 148 DOM
3. 2026-06-17
   days on market $2,995,000 Active 147 DOM
4. 2026-06-16
   days on market $2,995,000 Active 146 DOM
5. 2026-06-15
   days on market $2,995,000 Active 145 DOM
6. 2026-06-13
   days on market $2,995,000 Active 143 DOM
7. 2026-06-13
   days on market $2,995,000 Active 142 DOM
8. 2026-06-10
   days on market $2,995,000 Active 140 DOM
9. 2026-06-09
   days on market $2,995,000 Active 139 DOM
10. 2026-06-08
    days on market $2,995,000 Active 138 DOM
11. 2026-06-07
    days on market $2,995,000 Active 137 DOM
12. 2026-06-05
    days on market $2,995,000 Active 134 DOM
13. 2026-06-03
    days on market $2,995,000 Active 133 DOM
14. 2026-06-02
    days on market $2,995,000 Active 132 DOM
15. 2026-06-01
    days on market $2,995,000 Active 131 DOM
16. 2026-05-31
    days on market $2,995,000 Active 130 DOM
17. 2026-01-21
    listed $2,995,000 Active 989-char remark

    Show marketing remark (989 chars)

    This well-maintained 16-unit multifamily property, located in the highly sought-after city of Clovis, presents an exceptional investment opportunity with both strong in-place income and future upside. The property is currently generating approximately $16,572 per month in gross rents, with clear potential to increase income by aligning rents with current market rates.Comprised of sixteen spacious 2-bedroom, 1-bathroom unitseach approximately 750 square feetthe property is in turnkey condition, offering minimal maintenance needs and a smooth transition for new ownership. An on-site laundry facility provides added convenience for tenants and an additional income stream for the owner.Set in a prime location with high rental demand, this asset offers investors immediate cash flow along with the opportunity for long-term appreciation and value growth. Don't miss the chance to acquire a consistent, high-performing asset in one of the Central Valley's most desirable rental markets.

18. 2017-02-03
    soldstatus $1,025,000
19. 1999-01-15
    soldstatus $409,250

ⓘ 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: $14,205 · $1,184/mo
• Projected year-2 tax: $22,762 · $1,897/mo
• Expected delta: +$8,557/yr (+$713/mo · 60.2%)

ⓘ 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 (unshaded) · 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 57 unhealthy d/yr today · 60 by 30 yrs out

Taxation est. · year 1

• Rental income: $312,120
• − Mortgage interest: −$167,767
• − Property taxes: −$14,205
• − Insurance: −$14,975
• − Repairs & maintenance: −$24,970
• − Management: −$24,970
• − Depreciation: −$87,127
• Taxable loss: −$21,893
• Est. tax savings @ 24.0%: +$5,254
• After-tax cash flow: $34,176/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: Clovis Unified
• NCES district ID: 0609030
• Math proficiency: 58% ▲ 1.00%
• Reading proficiency: 72% ▲ 2.00%
• Median HH income: $71,950
• Composite: 58.7/100
• National rank: #2003
• State rank: #152 of 1400 in CA

Livability — Clovis

• Score: 76/100
• State rank: #92
• US rank: #3307

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clovis, CA
• County: Fresno County · 834,801 people
• City population: 139,989
• Metro: Fresno, CA
• Population (ZIP): 37,755
• Household income: $66,683
• Rent vs Own: 61.6% rent · 38.4% own
• Severe rent burden: 2487.0

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: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Hispanic / Latino 41% White 41% Two or more races 18% Asian 12% Black 2% Native American 2%
• Hispanic origin (detail): Mexican 37%
• Common ancestry: Slovak 2% Lithuanian 1% Italian 1%
• Foreign-born: 12% · Canada, China, Vietnam
• Languages at home: 73% English-only · Spanish 18% Other Asian/Pacific 4% Tagalog/Filipino 2%

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: ▼ -352.97%
• Current HPI: 357.6089
• Rent YoY: ▲ 2.65%
• 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

+631.8% since first listed

3 events — show timeline

• 2026-01-21 Listed $2,995,000 FRESNOMLS
• 2017-02-03 Sold (Public Records) $1,025,000 Public Records
• 1999-01-15 Sold (Public Records) $409,250 Public Records

Property tax history

+7.5%/yr

Latest (2025): $14,205 · +1.9% YoY. Source: county tax records.