2011-2015 N Parker Pl · Hanford, CA 93230

$430,000

6 bd · 3.0 ba · 2,077 sqft · MultiFamily public records · 20 Days on market

Built 1966 7,200 sqft lot Est $407k · 6% over

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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 +22.1/30.0
• DSCR +7.1/10.0
• ARV discount +5.0/15.0
• 1% rule +4.8/10.0
• Livability +3.8/5.0
• Schools +3.6/10.0
• 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 (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Time to get started in the RENTAL business and real estate ownership. Live in one. .. rent the other two. First time owner financing benefits available. Two of the units have been recently renovated. Property manager feels $1,200 is market rent.

Key facts

• 7,200 sq ft lot
• Built 1966
• Listed 19 days

Property features AI

Finance

• Other: Currently used as multi‑family residential income
• Financial info:
• HOA & community: Association fee (if any) includes utilities

Exterior

• Parking: Open asphalt parking
• Security:
• Utilities: Public water; Public sewer (and other sewer connections); Electricity connected; Natural gas available and connected; Water connected; Sewer connected
• Home design: Residential income property (Triplex); Faces south; 2+ common walls; no one above or below
• Construction: Frame and stucco construction; Composition roof; Slab foundation; Built/updated (updated/remodeled condition)
• Exterior features: Private yard; Patio; Asphalt road frontage on a public maintained city street; Zoned RM

Interior

• Kitchen: Microwave; Free‑standing gas range; Free‑standing refrigerator; ENERGY STAR qualified appliances
• Bedrooms:
• Flooring: Carpet; Ceramic tile
• Bathrooms:
• Heating & cooling: Natural gas heating; Wall furnace; Evaporative cooling
• Interior features: Updated/remodeled units; ENERGY STAR qualified appliances; Gas water heater; Microwave; Free‑standing gas range; Free‑standing refrigerator
• Laundry & utility: Washer/dryer included; Laundry located in kitchen

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1-bath units multifamily listed at $430k.

Deal economics

• At list price, monthly cash flow is $696 ($8k/yr) — positive. Per door: $232/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 $420k (2.3% below list).
• Recommended offer: $420k (2.3% below list) — sets the bar for 1% rule.
• Cap rate 8.2% vs local median 3.9% in Hanford — 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 75/100 on livability (#121 in CA, #4,255 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, amenities B; Watch: crime D+, health & safety D+, cost of living F.
• Hanford Joint Union High (urban): math 20% / reading 58% proficiency, ranked #765 of 1,400 in CA (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.9%/yr); 434 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 741 units permitted in Kings County in 2024 (307 in 5+ unit buildings).
• At $4,203/mo this rent would consume 66% of the median local household income ($76k/yr) (locally 2081% 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 $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($424k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 20y 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 $228k; list at $430k implies a 89% 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 $420,300 (2.3% 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 1966 — 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. Crime grade is D 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?
6. 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.
7. 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.
8. 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: 0.98% ✗
• Cap rate: 8.23%
• Cash-on-cash: 6.93%
• DSCR: 1.31
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $407,092
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
203 E Grangeville Blvd	0.58mi	5/2.0 (-1)	1,872 (-10%)	15mo	$366,125	$196	35

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 · 2.87% rent growth · sell at horizon

5-year hold

• IRR: -5.8%
• Equity multiple: 0.78×
• Total profit: $-26,062
• Equity at exit: $64,114

10-year hold

• IRR: 3.6%
• Equity multiple: 1.26×
• Total profit: $31,513
• Equity at exit: $37,179

Cash invested: $120,400 (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 93230

• Rents YoY: 2.9%
• Active inventory: 434
• Price-to-rent: 25.6×

Monthly cashflow live

• Estimated rent: $4,203 medium
• Mortgage (P&I): −$2,255
• Tax from tax record: −$190 /mo · $2,285/yr
• Insurance: −$179
• HOA: −$0
• Vacancy / Maint / Mgmt: −$883
• Net cashflow: $696

Break-even live

Break-even rent $3,322

Max offer price $430,000

Occupancy floor 78%

Sensitivity live

Price	-10% $939	-5% $817	+0% $696	+5% $574	+10% $452
Rent	-10% $364	-5% $530	+0% $696	+5% $862	+10% $1,028
Rate	-1.0pp $912	-0.5pp $805	base $696	+0.5pp $584	+1.0pp $471

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$4,203
Total (3 units)			$4,203

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: $107,500
• Closing costs: $12,900
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2427 Cherrywood Ct Hanford, CA	5.0	2.5	2229	$2,650	$1.19	15d	1	0.59mi

Listing history 16 events

1. 2026-06-21
   days on market $430,000 Active 20 DOM
2. 2026-06-19
   days on market $430,000 Active 18 DOM
3. 2026-06-18
   days on market $430,000 Active 17 DOM
4. 2026-06-17
   days on market $430,000 Active 16 DOM
5. 2026-06-16
   days on market $430,000 Active 15 DOM
6. 2026-06-15
   days on market $430,000 Active 14 DOM
7. 2026-06-14
   days on market $430,000 Active 12 DOM
8. 2026-06-13
   days on market $430,000 Active 11 DOM
9. 2026-06-10
   days on market $430,000 Active 9 DOM
10. 2026-06-09
    days on market $430,000 Active 8 DOM
11. 2026-06-08
    days on market $430,000 Active 7 DOM
12. 2026-06-07
    days on market $430,000 Active 6 DOM
13. 2026-06-05
    days on market $430,000 Active 3 DOM
14. 2026-06-03
    days on market $430,000 Active 2 DOM
15. 2026-06-02
    remarks 245-char remark
16. 2026-06-02
    listed $430,000 Active 1 DOM

ⓘ 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: $2,285 · $190/mo
• Projected year-2 tax: $3,268 · $272/mo
• Expected delta: +$983/yr (+$82/mo · 43.0%)

ⓘ 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 4/10 Moderate
• 🌡 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 49 unhealthy d/yr today · 50 by 30 yrs out

Taxation est. · year 1

• Rental income: $50,436
• − Mortgage interest: −$24,087
• − Property taxes: −$2,285
• − Insurance: −$2,150
• − Repairs & maintenance: −$4,035
• − Management: −$4,035
• − Depreciation: −$12,509
• Taxable income: $1,335
• Est. tax owed @ 24.0%: −$320
• After-tax cash flow: $8,029/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: Hanford Joint Union High
• NCES district ID: 0616500
• Math proficiency: 20% ▲ 1.00%
• Reading proficiency: 58% ▬ 0.00%
• Median HH income: $47,265
• Composite: 35.8/100
• National rank: #9626
• State rank: #765 of 1400 in CA

Livability — Hanford

• Score: 75/100
• State rank: #121
• US rank: #4255

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hanford, CA
• County: Kings County · 107,655 people
• City population: 69,684
• Metro: Hanford-Corcoran, CA
• Population (ZIP): 69,684
• Household income: $76,023
• Rent vs Own: 38.7% rent · 61.3% own
• Severe rent burden: 2081.0

Population outlook (Kings County) Hauer SSP2

• Today (2025): 147,136 people
• By 2030: 145,623 · -1.0%
• By 2040: 146,017 · -0.8%
• By 2050: 145,239 · -1.3%
• By 2075: 131,479 · -10.6%
• By 2100: 103,967 · -29.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Hispanic / Latino 52% White 35% Two or more races 19% Black 5% Asian 3% Native American 2%
• Hispanic origin (detail): Mexican 49%
• Common ancestry: Russian 6% Italian 2% Lithuanian 1%
• Foreign-born: 17% · Canada
• Languages at home: 65% English-only · Spanish 31% Other Indo-European 2% Tagalog/Filipino 2%

Political lean MEDSL · Kings

• 2024 margin: Strong R (+23.0) · D 37.4% · R 60.4% · Other 2.2%
• 2008→2024 swing: -8.9pp toward R · 2008: -14.1pp · 2024: -23.0pp
• All cycles: 2024: R+23.0 2020: R+12.2 2016: R+14.1 2012: R+16.3 2008: R+14.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -267.79%
• Current HPI: 321.3409
• Rent YoY: ▲ 2.87%
• Metro: Hanford-Corcoran, 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

+330.0% since first listed

10 events — show timeline

• 2026-05-27 Listed $430,000 TCMLS
• 2025-10-06 Rental Removed $1,000 APPFOLIO
• 2025-10-04 Price Changed $1,000 APPFOLIO
• 2025-09-30 Price Changed $1,100 APPFOLIO
• 2025-09-10 Price Changed $1,200 APPFOLIO
• 2025-08-21 Listed for Rent $1,300 APPFOLIO
• 2006-05-11 Listing Removed — NSBCRMLS
• 2006-01-14 Listed $339,995 NSBCRMLS
• 2004-12-29 Sold (Public Records) $228,000 Public Records
• 1994-10-12 Sold (Public Records) $100,000 Public Records

Property tax history

+1.5%/yr

Latest (2025): $2,285 · +3.7% YoY. Source: county tax records.