2434 Sherman Ave · Corcoran, CA 93212

$185,000

2 bd · 1.0 ba · 1,116 sqft · SingleFamily public records · 58 Days on market

Built 1948 0.49 ac lot $166/sqft · 40% below area Est $307k · 40% under

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Why this score? — see what drove the B 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 +24.4/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +7.9/10.0
• 1% rule +5.1/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0

Listing remarks MLS

Attention investors and savvy buyers - don't miss this diamond in the rough! This 2-bedroom, 1-bath home sits on a generous nearly half-acre lot in Corcoran, offering incredible potential for the right buyer. Whether you're looking to renovate and rent, flip, or hold as a long-term investment, this property delivers the space and opportunity you've been searching for. With a large lot and solid bones, the possibilities are endless. Priced to sell - add this one to your portfolio before it's gone!

Key facts

• Half-acre lot
• Large lot
• 0.49 acre lot

Tags

• HALF-ACRE LOT
• LARGE LOT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $377 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $179k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 4.2% in Corcoran — 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 49/100 on livability (#1,161 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: crime D, schools F, amenities F.
• Corcoran Joint Unified (town): math 12% / reading 30% proficiency, ranked #464 of 517 in CA (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 66 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 741 units permitted in Kings County in 2024 (307 in 5+ unit buildings).

Forward outlook

• In year one you build about $20k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $52k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire 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 $179,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 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.

Investment metrics

• 1% rule: 1.01% ✓
• Cap rate: 8.74%
• Cash-on-cash: 8.72%
• DSCR: 1.39
• GRM: 8.2

CMA / ARV

• ARV (median comp): $306,800
• List price: $185,000
• Delta: -39.70%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2607 Olympic Ave	0.28mi	3/2.0 (+1)	1,064 (-5%)	13mo	$273,000	$257	59
2430 Lorina Ave	0.69mi	2/2.0	1,118 (+0%)	5mo	$255,000	$228	59
1232 6 1/2 Ave	0.08mi	3/2.0 (+1)	1,008 (-10%)	14mo	$250,000	$248	59
1813 Josephine Ave	0.67mi	3/2.0 (+1)	1,125 (+1%)	0mo	$268,000	$238	58
1811 Sherman Ave	0.55mi	3/1.0 (+1)	1,064 (-5%)	8mo	$270,000	$254	55
1708 Sequoia Ave	0.33mi	3/2.0 (+1)	1,213 (+9%)	11mo	$309,837	$255	52
1732 Hume Lake Ave	0.47mi	3/2.0 (+1)	1,213 (+9%)	4mo	$310,000	$256	52
2310 Patterson Ave	0.53mi	3/1.0 (+1)	988 (-12%)	1mo	$239,900	$243	50
2310 Patterson Ave	0.53mi	3/1.0 (+1)	988 (-12%)	1mo	$239,900	$243	50
2211 Bell Ave	0.65mi	3/2.0 (+1)	1,208 (+8%)	3mo	$290,000	$240	45
1508 Claire Ave	0.52mi	3/2.0 (+1)	1,263 (+13%)	1mo	$235,000	$186	44
2315 Bell Ave	0.62mi	3/1.0 (+1)	1,272 (+14%)	14mo	$257,500	$202	32

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 30.6%
• Equity multiple: 3.41×
• Total profit: $124,663
• Equity at exit: $166,663

10-year hold

• IRR: 26.5%
• Equity multiple: 7.72×
• Total profit: $348,093
• Equity at exit: $359,414

Cash invested: $51,800 (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 93212

• Home prices YoY: 6.5%
• Active inventory: 66
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,875 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$58 /mo · $690/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $377

Break-even live

Break-even rent $1,398

Max offer price $185,000

Occupancy floor 75%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1696 Hume Lake Ave Corcoran, CA	3.0	2.0	1213	$2,000	$1.65	13d	1	0.44mi
1852 Whitley Ave Unit 1943 Corcoran, CA	2.0	2.5	1400	$1,695	$1.21	13d	1	0.55mi

Listing history 16 events

1. 2026-06-18
   days on market $185,000 Active 58 DOM
2. 2026-06-17
   days on market $185,000 Active 57 DOM
3. 2026-06-16
   days on market $185,000 Active 56 DOM
4. 2026-06-15
   days on market $185,000 Active 55 DOM
5. 2026-06-14
   days on market $185,000 Active 53 DOM
6. 2026-06-13
   days on market $185,000 Active 52 DOM
7. 2026-06-10
   days on market $185,000 Active 50 DOM
8. 2026-06-09
   days on market $185,000 Active 49 DOM
9. 2026-06-08
   days on market $185,000 Active 48 DOM
10. 2026-06-07
    days on market $185,000 Active 47 DOM
11. 2026-06-03
    days on market $185,000 Active 43 DOM
12. 2026-06-02
    days on market $185,000 Active 42 DOM
13. 2026-06-01
    days on market $185,000 Active 41 DOM
14. 2026-05-31
    days on market $185,000 Active 40 DOM
15. 2026-05-30
    days on market $185,000 Active 39 DOM
16. 2026-04-20
    listed $185,000 Active 501-char remark

    Show marketing remark (501 chars)

    Attention investors and savvy buyers - don't miss this diamond in the rough! This 2-bedroom, 1-bath home sits on a generous nearly half-acre lot in Corcoran, offering incredible potential for the right buyer. Whether you're looking to renovate and rent, flip, or hold as a long-term investment, this property delivers the space and opportunity you've been searching for. With a large lot and solid bones, the possibilities are endless. Priced to sell - add this one to your portfolio before it's gone!

ⓘ 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: $690 · $58/mo
• Projected year-2 tax: $1,406 · $117/mo
• Expected delta: +$716/yr (+$60/mo · 103.7%)

ⓘ 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 5/10 Major
• 🌡 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 36 unhealthy d/yr today · 38 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,502
• − Mortgage interest: −$10,363
• − Property taxes: −$690
• − Insurance: −$925
• − Repairs & maintenance: −$1,800
• − Management: −$1,800
• − Depreciation: −$5,382
• Taxable income: $1,541
• Est. tax owed @ 24.0%: −$370
• After-tax cash flow: $4,149/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: Corcoran Joint Unified
• NCES district ID: 0609690
• Math proficiency: 12% ▼ -12.00%
• Reading proficiency: 30% ▼ -8.00%
• Median HH income: $34,649
• Composite: 17.2/100
• National rank: #9103
• State rank: #464 of 517 in CA

Livability — Corcoran

• Score: 49/100
• State rank: #1161
• US rank: #25849

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Corcoran, CA
• Population (ZIP): 23,407

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: Predominantly Hispanic (74%)
• Race & ethnicity: Hispanic / Latino 74% Two or more races 25% White 12% Black 10% Native American 3% Asian 1%
• Hispanic origin (detail): Mexican 68% Puerto Rican 2%
• Common ancestry: Russian 1%
• Foreign-born: 24% · Canada
• Languages at home: 49% English-only · Spanish 49%

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: ▲ 24.86%
• Current HPI: 405.1924
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-04-20 Listed $185,000 FRESNOMLS

Property tax history

+0.1%/yr

Latest (2025): $690 · +2.8% YoY. Source: county tax records.