2218 N Glenn Ave · Fresno, CA 93704

$594,500

8 bd · 4.0 ba · 3,762 sqft · MultiFamily public records · 40 Days on market

Built 1969 6,751 sqft lot Est $767k · 23% under

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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 +22.6/30.0
• ARV discount +15.0/15.0
• DSCR +7.2/10.0
• 1% rule +5.3/10.0
• Rent growth +3.2/5.0
• Livability +3.1/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Great investment opportunity! Turn-key project with cash flow. This fully-occupied 4-plex has all 2-bedroom/1-bath units. Freshly painted exterior and recently uupdated interiors. Centrally located close to shopping centers and Fresno City College. Great for investor or owner-occupied. Can live in 1 unit and rent the other 3 out.

Key facts

• 6,751 sq ft lot
• Built 1969
• Listed 40 days

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $594k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $253/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $594k).
• Recommended offer: $577k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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: Rents rising (+3.0%/yr); 95 active listings in the ZIP; 2,426 units permitted in Fresno County in 2024 (296 in 5+ unit buildings).
• At $6,115/mo this rent would consume 100% of the median local household income ($73k/yr) (locally 1618% 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 $4k of loan paydown is wiped out by about $18k 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 40 days — a 3% lower offer ($577k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 14y 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 $380k; list at $594k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood 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 $576,665 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% 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 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.03% ✓
• Cap rate: 8.33%
• Cash-on-cash: 7.28%
• DSCR: 1.32
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $767,448
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1130 E Vassar Ave	0.18mi	9/5.0 (+1)	3,686 (-2%)	7mo	$625,000	$170	73
830 E Pine Ave	0.71mi	8/8.0	3,936 (+5%)	2mo	$925,000	$235	42
656 E Mckinley Ave	0.70mi	8/5.0	4,168 (+11%)	15mo	$850,000	$204	33

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 · 2.95% rent growth · sell at horizon

5-year hold

• IRR: -5.2%
• Equity multiple: 0.81×
• Total profit: $-32,391
• Equity at exit: $88,642

10-year hold

• IRR: 4.4%
• Equity multiple: 1.32×
• Total profit: $53,033
• Equity at exit: $51,401

Cash invested: $166,460 (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 93704

• Rents YoY: 3.0%
• Active inventory: 95
• Price-to-rent: 32.4×

Monthly cashflow live

• Estimated rent: $6,115 high
• Mortgage (P&I): −$3,118
• Tax from tax record: −$455 /mo · $5,465/yr
• Insurance: −$248
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,284
• Net cashflow: $1,010

Break-even live

Break-even rent $4,836

Max offer price $594,500

Occupancy floor 78%

Sensitivity live

Price	-10% $1,347	-5% $1,178	+0% $1,010	+5% $842	+10% $674
Rent	-10% $527	-5% $769	+0% $1,010	+5% $1,252	+10% $1,493
Rate	-1.0pp $1,310	-0.5pp $1,161	base $1,010	+0.5pp $856	+1.0pp $699

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$6,116
Total (4 units)			$6,115

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: $148,625
• Closing costs: $17,835
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-04-08
   status Pending
2. 2026-04-02
   price $594,500
3. 2026-02-27
   listed $595,000 Active
4. 2019-11-20
   price $368,000 331-char remark

   Show marketing remark (331 chars)

   Great investment opportunity! Turn-key project with cash flow. This fully-occupied 4-plex has all 2-bedroom/1-bath units. Freshly painted exterior and recently uupdated interiors. Centrally located close to shopping centers and Fresno City College. Great for investor or owner-occupied. Can live in 1 unit and rent the other 3 out.

5. 2019-11-19
   soldstatus $380,000 Sold 331-char remark

   Show marketing remark (331 chars)

   Great investment opportunity! Turn-key project with cash flow. This fully-occupied 4-plex has all 2-bedroom/1-bath units. Freshly painted exterior and recently uupdated interiors. Centrally located close to shopping centers and Fresno City College. Great for investor or owner-occupied. Can live in 1 unit and rent the other 3 out.

6. 2019-11-19
   soldstatus $380,000

   Show marketing remark (331 chars)

   Great investment opportunity! Turn-key project with cash flow. This fully-occupied 4-plex has all 2-bedroom/1-bath units. Freshly painted exterior and recently uupdated interiors. Centrally located close to shopping centers and Fresno City College. Great for investor or owner-occupied. Can live in 1 unit and rent the other 3 out.

7. 2019-07-29
   status Backup 331-char remark

   Show marketing remark (331 chars)

   Great investment opportunity! Turn-key project with cash flow. This fully-occupied 4-plex has all 2-bedroom/1-bath units. Freshly painted exterior and recently uupdated interiors. Centrally located close to shopping centers and Fresno City College. Great for investor or owner-occupied. Can live in 1 unit and rent the other 3 out.

8. 2019-07-29
   price $380,000 331-char remark

   Show marketing remark (331 chars)

   Great investment opportunity! Turn-key project with cash flow. This fully-occupied 4-plex has all 2-bedroom/1-bath units. Freshly painted exterior and recently uupdated interiors. Centrally located close to shopping centers and Fresno City College. Great for investor or owner-occupied. Can live in 1 unit and rent the other 3 out.

9. 2019-07-10
   listed $368,000 Active 331-char remark

   Show marketing remark (331 chars)

   Great investment opportunity! Turn-key project with cash flow. This fully-occupied 4-plex has all 2-bedroom/1-bath units. Freshly painted exterior and recently uupdated interiors. Centrally located close to shopping centers and Fresno City College. Great for investor or owner-occupied. Can live in 1 unit and rent the other 3 out.

10. 2013-01-10
    soldstatus $138,000 440-char remark

    Show marketing remark (440 chars)

    Traditional Sale! Excellent investment fourplex with long term tenants that get along very well and look out for each other. Very clean apartments with A/C units, stoves, and refrigerators. One unit is on the 2nd floor and the rest are single story. All tenants share a detached laundry room with it's own water heater. Each unit has own parking space at the carport. The property is a block from Fresno City College and close to shopping.

11. 2013-01-10
    soldstatus $138,000

    Show marketing remark (440 chars)

    Traditional Sale! Excellent investment fourplex with long term tenants that get along very well and look out for each other. Very clean apartments with A/C units, stoves, and refrigerators. One unit is on the 2nd floor and the rest are single story. All tenants share a detached laundry room with it's own water heater. Each unit has own parking space at the carport. The property is a block from Fresno City College and close to shopping.

12. 2012-11-13
    price $145,000 440-char remark

    Show marketing remark (440 chars)

    Traditional Sale! Excellent investment fourplex with long term tenants that get along very well and look out for each other. Very clean apartments with A/C units, stoves, and refrigerators. One unit is on the 2nd floor and the rest are single story. All tenants share a detached laundry room with it's own water heater. Each unit has own parking space at the carport. The property is a block from Fresno City College and close to shopping.

13. 2012-11-13
    historical 440-char remark

    Show marketing remark (440 chars)

    Traditional Sale! Excellent investment fourplex with long term tenants that get along very well and look out for each other. Very clean apartments with A/C units, stoves, and refrigerators. One unit is on the 2nd floor and the rest are single story. All tenants share a detached laundry room with it's own water heater. Each unit has own parking space at the carport. The property is a block from Fresno City College and close to shopping.

14. 2012-11-08
    listed $138,000 440-char remark

    Show marketing remark (440 chars)

    Traditional Sale! Excellent investment fourplex with long term tenants that get along very well and look out for each other. Very clean apartments with A/C units, stoves, and refrigerators. One unit is on the 2nd floor and the rest are single story. All tenants share a detached laundry room with it's own water heater. Each unit has own parking space at the carport. The property is a block from Fresno City College and close to shopping.

ⓘ 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: $5,465 · $455/mo
• Projected year-2 tax: $5,465 · $455/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (shaded) · 51% 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 48 unhealthy d/yr today · 50 by 30 yrs out

Taxation est. · year 1

• Rental income: $73,380
• − Mortgage interest: −$33,301
• − Property taxes: −$5,465
• − Insurance: −$2,972
• − Repairs & maintenance: −$5,870
• − Management: −$5,870
• − Depreciation: −$17,295
• Taxable income: $2,606
• Est. tax owed @ 24.0%: −$625
• After-tax cash flow: $11,496/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): 28,932
• Household income: $73,234
• Rent vs Own: 44.0% rent · 56.0% own
• Severe rent burden: 1618.0

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 0.63)
• Race & ethnicity: Hispanic / Latino 45% White 41% Two or more races 19% Black 5% Asian 4%
• Hispanic origin (detail): Mexican 40%
• Common ancestry: Slovak 3% Lithuanian 2% Iranian 1%
• Foreign-born: 9% · Canada
• Languages at home: 77% English-only · Spanish 18% Other Asian/Pacific 2% French/Haitian/Cajun 1%

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: ▼ -389.99%
• Current HPI: 355.925
• Rent YoY: ▲ 2.95%
• 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

+330.8% since first listed

14 events — show timeline

• 2026-04-08 Pending — FRESNOMLS
• 2026-04-02 Price Changed $594,500 FRESNOMLS
• 2026-02-27 Listed $595,000 FRESNOMLS
• 2019-11-20 Price Changed $368,000 FRESNOMLS
• 2019-11-19 Sold (Public Records) $380,000 Public Records
• 2019-11-19 Sold (MLS) $380,000 FRESNOMLS
• 2019-07-29 Pending — FRESNOMLS
• 2019-07-29 Price Changed $380,000 FRESNOMLS
• 2019-07-10 Listed $368,000 FRESNOMLS
• 2013-01-10 Sold (Public Records) $138,000 Public Records
• 2013-01-10 Sold (MLS) $138,000 FRESNOMLS
• 2012-11-13 Delisted — FRESNOMLS
• 2012-11-13 Price Changed $145,000 FRESNOMLS
• 2012-11-08 Listed $138,000 FRESNOMLS

Property tax history

+10.7%/yr

Latest (2025): $5,465 · +3.9% YoY. Source: county tax records.