371 Bethel Ave · Sanger, CA 93657

$148,000

2 bd · 2.0 ba · 2,537 sqft · Land public records · 18 Days on market

Built 1976 $58/sqft · 40% below area Est $121k · 23% 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 +28.7/30.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• Schools +3.7/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully maintained and move-in ready! This charming 2-bedroom, 2-bath home offers comfortable Living with a spacious layout, bright natural light, and inviting living spaces throughout. Enjoy a cozy living room, functional kitchen, dedicated dining area, and plenty of storage with added sheds.

Key facts

• Move-in ready
• Functional kitchen
• Cozy living room

Tags

• MOVE-IN READY
• COZY LIVING ROOM
• FUNCTIONAL KITCHEN
• DEDICATED DINING AREA
• PLENTY OF STORAGE
• ADDED SHEDS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath land listed at $148k.

Deal economics

• At list price, monthly cash flow is $493 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $148k).
• Recommended offer: $146k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 3.6% in Sanger — 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 58/100 on livability (#668 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: schools C-, employment C-, crime D+.
• Sanger Unified (town): math 22% / reading 62% proficiency, ranked #216 of 517 in CA (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 151 active listings in the ZIP; solid renter incomes; 2,426 units permitted in Fresno County in 2024 (296 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 24y 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 $80k; list at $148k implies a 85% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 6→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,780 (1.5% below list)

Questions for the listing agent

1. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.30% ✓
• Cap rate: 10.29%
• Cash-on-cash: 14.29%
• DSCR: 1.64
• GRM: 6.4

CMA / ARV

• ARV (median comp): $120,653
• List price: $148,000
• Delta: 24.32%
• Verdict: OVERPRICED
• Comps: 12 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 4.7%
• Equity multiple: 1.18×
• Total profit: $7,473
• Equity at exit: $22,067

10-year hold

• IRR: 14.1%
• Equity multiple: 2.14×
• Total profit: $47,091
• Equity at exit: $12,796

Cash invested: $41,440 (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 93657

• Active inventory: 151
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,919 medium
• Mortgage (P&I): −$776
• Tax est. 1.5%: −$185 /mo · $2,220/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $493

Break-even live

Break-even rent $1,295

Max offer price $148,000

Occupancy floor 69%

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: $37,000
• Closing costs: $4,440
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-01
   pricedays on marketlisting id $148,000 Active 18 DOM
2. 2026-05-31
   days on market $150,000 Active 130 DOM
3. 2026-05-15
   listed $148,000 Active 298-char remark

   Show marketing remark (298 chars)

   Beautifully maintained and move-in ready! This charming 2-bedroom, 2-bath home offers comfortable Living with a spacious layout, bright natural light, and inviting living spaces throughout. Enjoy a cozy living room, functional kitchen, dedicated dining area, and plenty of storage with added sheds.

4. 2026-01-21
   listed $150,000 Active 1351-char remark

   Show marketing remark (1351 chars)

   Welcome home! This charming residence is truly move-in ready and it feels so much larger than the square footage suggests! Perfectly situated on a desirable corner lot, it greets you with beautiful landscaping and undeniable curb appeal. Step into your own private backyard retreat, where mature shade trees and a lush green lawn create the perfect setting for morning coffee, weekend barbecues, or simply unwinding at the end of the day. Inside, you'll appreciate the warmth and flow of this thoughtfully designed home. Newer windows bring in plenty of natural light, while easy-care vinyl plank flooring adds both style and practicality. Living area in front room is extra large, offering room to relax or entertain, a dedicated dining space is ready for gatherings, and a versatile extra room can easily serve as a home office, craft space, or cozy reading nook. The convenient Jack & Jill bath provides easy access for guests from both the laundry room and the secondary bedroom; a smart design that makes everyday living effortless. Full of charm, comfort, and flexibility, this home invites you to settle in, spread out, and make it your own. This home had a death on the property from natural causes. Subject to Buyer's being approved to live in the Park. Tax records differ from actual actual bedroom count. Buyer to verify if important.

5. 2022-05-26
   soldstatus $80,000 Sold
6. 2022-04-13
   status Pending
7. 2022-03-31
   listed $84,900 Active
8. 2021-06-24
   price $90,000
9. 2021-06-11
   soldstatus $90,000 Sold
10. 2021-05-03
    status Backup
11. 2021-05-03
    price $92,000
12. 2021-04-16
    listed $92,000 Active
13. 2017-01-27
    price $44,500
14. 2017-01-26
    soldstatus $44,500 Sold
15. 2016-11-01
    status Pending
16. 2016-11-01
    listed $44,900 Active
17. 2016-10-29
    price $44,900
18. 2007-04-10
    price $69,000
19. 2007-03-29
    soldstatus $69,500
20. 2007-02-07
    listed $69,500
21. 2007-02-07
    historical
22. 2007-01-05
    soldstatus $75,000
23. 2006-11-16
    historical
24. 2006-09-13
    listed $75,000
25. 2002-12-01
    soldstatus $38,000
26. 2002-10-16
    price $40,000
27. 2002-10-16
    historical
28. 2002-08-02
    listed $38,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 8/10 Severe 6 d/yr ≥105°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 52 unhealthy d/yr today · 58 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,031
• − Mortgage interest: −$8,290
• − Property taxes: −$2,220
• − Insurance: −$740
• − Repairs & maintenance: −$1,842
• − Management: −$1,842
• − Depreciation: −$4,305
• Taxable income: $3,790
• Est. tax owed @ 24.0%: −$910
• After-tax cash flow: $5,011/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: Sanger Unified
• NCES district ID: 0635250
• Math proficiency: 22% ▼ -21.00%
• Reading proficiency: 62% ▲ 9.00%
• Median HH income: $57,180
• Composite: 36.67/100
• National rank: #4608
• State rank: #216 of 517 in CA

Livability — Sanger

• Score: 58/100
• State rank: #668
• US rank: #20675

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sanger, CA
• County: Fresno County · 834,801 people
• City population: 36,205
• Metro: Fresno, CA
• Population (ZIP): 36,205
• Household income: $78,904
• Rent vs Own: 31.5% rent · 68.5% own
• Severe rent burden: 878.0

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: Predominantly Hispanic (68%)
• Race & ethnicity: Hispanic / Latino 68% White 25% Two or more races 17% Asian 5% Native American 2%
• Hispanic origin (detail): Mexican 64%
• Common ancestry: Russian 1% Italian 1% Iranian 1%
• Foreign-born: 19% · Canada, China
• Languages at home: 52% English-only · Spanish 44% Other Asian/Pacific 2% Other Indo-European 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: ▼ -254.86%
• Current HPI: 366.3783
• Rent YoY: —
• 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

+289.5% since first listed

26 events — show timeline

• 2026-05-15 Listed $148,000 FSBO.com
• 2026-01-21 Listed $150,000 CRMLS
• 2022-05-26 Sold (MLS) $80,000 FRESNOMLS
• 2022-04-13 Pending — FRESNOMLS
• 2022-03-31 Listed $84,900 FRESNOMLS
• 2021-06-24 Price Changed $90,000 FRESNOMLS
• 2021-06-11 Sold (MLS) $90,000 FRESNOMLS
• 2021-05-03 Pending — FRESNOMLS
• 2021-05-03 Price Changed $92,000 FRESNOMLS
• 2021-04-16 Listed $92,000 FRESNOMLS
• 2017-01-27 Price Changed $44,500 FRESNOMLS
• 2017-01-26 Sold (MLS) $44,500 FRESNOMLS
• 2016-11-01 Pending — FRESNOMLS
• 2016-11-01 Listed $44,900 FRESNOMLS
• 2016-10-29 Price Changed $44,900 FRESNOMLS
• 2007-04-10 Price Changed $69,000 FRESNOMLS
• 2007-03-29 Sold (MLS) $69,500 FRESNOMLS
• 2007-02-07 Delisted — FRESNOMLS
• 2007-02-07 Listed $69,500 FRESNOMLS
• 2007-01-05 Sold (MLS) $75,000 FRESNOMLS
• 2006-11-16 Delisted — FRESNOMLS
• 2006-09-13 Listed $75,000 FRESNOMLS
• 2002-12-01 Sold (MLS) $38,000 FRESNOMLS
• 2002-10-16 Delisted — FRESNOMLS
• 2002-10-16 Price Changed $40,000 FRESNOMLS
• 2002-08-02 Listed $38,000 FRESNOMLS

Property tax history

+2.4%/yr

Latest (2025): $18,601 · +5.9% YoY. Source: county tax records.