3039 E Hedges Ave · Fresno, CA 93703

$250,000

3 bd · 1.0 ba · 1,228 sqft · SingleFamily public records · 70 Days on market

Built 1933 10,201 sqft lot $204/sqft · 36% above area Est $299k · 16% under ↓ 2% since listing

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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).

• ARV discount +14.9/15.0
• Cash flow +9.7/30.0
• Rent growth +4.5/5.0
• Livability +3.1/5.0
• DSCR +2.7/10.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• 1% rule +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming vintage home on a Double-Sized Lot! This versatile home sits on rare lot with room to add an ADU, tiny home, shop or pool. An isolated master bedroom/bathroom offers flexibility for multigenerational living or rental potential. Recent upgrades include new carpet, fresh interior paint, completed drywall, and a newly installed industrial-size water heater. A great opportunity to build equity and maximize potential.

Key facts

• Rental potential
• Double-sized lot
• New carpet

Tags

• DOUBLE-SIZED LOT
• ISOLATED MASTER BEDROOM
• MULTIGENERATIONAL LIVING
• RENTAL POTENTIAL
• NEW CARPET
• FRESH INTERIOR PAINT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $-166 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $221k (11.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $164k (34.4% below list).
• Recommended offer: $164k (34.4% below list) — sets the bar for 1% rule.
• Cap rate 5.5% 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 fast (+7.8%/yr); 69 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 59% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,426 units permitted in Fresno County in 2024 (296 in 5+ unit buildings).
• This rent runs 40% of the median local income ($49k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 70 days — a 6% lower offer ($235k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1933 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major 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 $163,948 (34.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
3. Built in 1933 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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 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: 0.66% ✗
• Cap rate: 5.49%
• Cash-on-cash: -2.85%
• DSCR: 0.87
• GRM: 12.7

CMA / ARV

• ARV (median comp): $299,003
• List price: $250,000
• Delta: -16.39%
• 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
3284 E Pine Ave	0.30mi	3/1.0	1,328 (+8%)	0mo	$249,900	$188	72
3023 E White Ave	0.56mi	3/1.0	1,251 (+2%)	7mo	$255,000	$204	65
3404 E Home Ave	0.40mi	2/1.0 (-1)	1,276 (+4%)	8mo	$290,000	$227	63
2845 Madison	0.72mi	3/2.0	1,246 (+2%)	2mo	$291,500	$234	59
2401 E Thomas Ave	0.68mi	3/2.0	1,248 (+2%)	6mo	$280,000	$224	56
3623 E Lamona	0.54mi	3/3.0	1,160 (-6%)	3mo	$335,000	$289	55
1517 N Millbrook	0.62mi	3/1.0	1,098 (-11%)	1mo	$220,000	$200	53
2340 E Clay Ave	0.54mi	3/1.0	1,068 (-13%)	4mo	$244,000	$228	50
1206 N 8th St	0.73mi	3/1.0	1,375 (+12%)	2mo	$299,000	$217	45
2112 E Hedges	0.65mi	3/2.0	1,056 (-14%)	6mo	$319,500	$303	37
2405 E White Ave	0.73mi	4/1.5 (+1)	1,400 (+14%)	5mo	$290,000	$207	31
1879 Mayfair Dr E	0.75mi	2/2.0 (-1)	1,066 (-13%)	6mo	$299,000	$280	29

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 · 7.8% rent growth · sell at horizon

5-year hold

• IRR: -16.7%
• Equity multiple: 0.39×
• Total profit: $-42,937
• Equity at exit: $37,276

10-year hold

• IRR: -2.5%
• Equity multiple: 0.80×
• Total profit: $-13,965
• Equity at exit: $21,615

Cash invested: $70,000 (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 93703

• Rents YoY: 7.8%
• Active inventory: 69
• Price-to-rent: 12.7×

Monthly cashflow live

• Estimated rent: $1,639 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$46 /mo · $555/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $-166

Break-even live

Break-even rent $1,850

Max offer price $220,630

Occupancy floor —

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3254 E Olive Ave Apt D Fresno, CA	2.0	1.0	750	$1,300	$1.73	21d	1	0.28mi
3049 E McKinley Ave Fresno, CA	3.0	2.0	1276	$2,100	$1.65	14d	1	0.36mi
2355 E Olive Ave Fresno, CA	3.0	2.0	1265	$2,250	$1.78	23d	1	0.49mi
1619 N 6th St Unit **21 6th-880 Fresno, CA	2.0	1.0	950	$1,325	$1.39	43d	1	0.64mi
2044 Mayfair Dr W Unit Advertising Fresno, CA	2.0	1.0	872	$1,495	$1.71	43d	1	0.68mi
2103 N Angus St Unit 2139-C Fresno, CA	2.0	1.0	875	$1,300	$1.49	43d	1	0.68mi
2132 N First St Fresno, CA	2.0	1.0	877	$1,200	$1.37	43d	1	0.70mi
2674 E Clinton Ave Fresno, CA	1.0–4.0	1.0–3.0	943	$1,018	$1.08	43d	1	0.87mi
2056 E White Ave Apt B Fresno, CA	2.0	1.0	1050	$1,250	$1.19	43d	1	0.89mi
2995 E Nevada Ave Apt D Fresno, CA	2.0	1.0	850	$1,150	$1.35	43d	1	0.95mi
1321 N Calaveras St Fresno, CA	3.0	2.0	1300	$2,200	$1.69	3d	1	1.03mi
1532 N Calaveras St Fresno, CA	2.0	2.0	848	$1,800	$2.12	21d	1	1.03mi
1620 E Yale Ave Apt 202 Fresno, CA	2.0	1.0	825	$1,495	$1.81	43d	1	1.19mi
3033 E Platt Ave Fresno, CA	2.0	1.0	975	$1,016	$1.04	1d	1	1.24mi
1230 N College Ave Unit 1232 Fresno, CA	2.0	1.0	950	$1,500	$1.58	11d	1	1.31mi
960 N Van Ness Ave Fresno, CA	3.0	1.0	900	$1,350	$1.50	43d	1	1.41mi
4530 E Thomas Ave Apt 202 Fresno, CA	2.0	1.0	950	$1,250	$1.32	43d	1	1.50mi

Listing history 16 events

1. 2026-06-13
   statusdays on market $250,000 Pending 70 DOM
2. 2026-06-10
   days on market $250,000 Active 68 DOM
3. 2026-06-09
   days on market $250,000 Active 67 DOM
4. 2026-06-08
   days on market $250,000 Active 66 DOM
5. 2026-06-07
   days on market $250,000 Active 65 DOM
6. 2026-06-05
   days on market $250,000 Active 62 DOM
7. 2026-06-03
   days on market $250,000 Active 61 DOM
8. 2026-06-02
   days on market $250,000 Active 60 DOM
9. 2026-06-02
   status $250,000 Active 59 DOM
10. 2026-06-01
    days on market $250,000 Pending Accepting Backups 59 DOM
11. 2026-05-31
    days on market $250,000 Pending Accepting Backups 58 DOM
12. 2026-05-06
    historical Pending Accepting Backups 425-char remark

    Show marketing remark (425 chars)

    Charming vintage home on a Double-Sized Lot! This versatile home sits on rare lot with room to add an ADU, tiny home, shop or pool. An isolated master bedroom/bathroom offers flexibility for multigenerational living or rental potential. Recent upgrades include new carpet, fresh interior paint, completed drywall, and a newly installed industrial-size water heater. A great opportunity to build equity and maximize potential.

13. 2026-04-15
    price $250,000 425-char remark

    Show marketing remark (425 chars)

    Charming vintage home on a Double-Sized Lot! This versatile home sits on rare lot with room to add an ADU, tiny home, shop or pool. An isolated master bedroom/bathroom offers flexibility for multigenerational living or rental potential. Recent upgrades include new carpet, fresh interior paint, completed drywall, and a newly installed industrial-size water heater. A great opportunity to build equity and maximize potential.

14. 2026-04-03
    listed $254,000 Active 425-char remark

    Show marketing remark (425 chars)

    Charming vintage home on a Double-Sized Lot! This versatile home sits on rare lot with room to add an ADU, tiny home, shop or pool. An isolated master bedroom/bathroom offers flexibility for multigenerational living or rental potential. Recent upgrades include new carpet, fresh interior paint, completed drywall, and a newly installed industrial-size water heater. A great opportunity to build equity and maximize potential.

15. 2026-03-19
    price $254,000
16. 2026-01-08
    price $255,000

ⓘ 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: $555 · $46/mo
• Projected year-2 tax: $1,900 · $158/mo
• Expected delta: +$1,345/yr (+$112/mo · 242.3%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 52% 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: $19,674
• − Mortgage interest: −$14,004
• − Property taxes: −$555
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,574
• − Management: −$1,574
• − Depreciation: −$7,273
• Taxable loss: −$6,556
• Est. tax savings @ 24.0%: +$1,573
• After-tax cash flow: $-422/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): 33,420
• Household income: $48,737
• Rent vs Own: 60.7% rent · 39.3% own
• Severe rent burden: 2076.0

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 0.56)
• Race & ethnicity: Hispanic / Latino 63% Two or more races 26% Asian 14% White 12% Black 8% Native American 1%
• Hispanic origin (detail): Mexican 60%
• Foreign-born: 21% · Canada, Vietnam
• Languages at home: 47% English-only · Spanish 41% Other Asian/Pacific 9% 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: ▼ -274.09%
• Current HPI: 413.4753
• Rent YoY: ▲ 7.80%
• 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

-2.0% since first listed

5 events — show timeline

• 2026-05-06 Contingent — FRESNOMLS
• 2026-04-15 Price Changed $250,000 FRESNOMLS
• 2026-04-03 Listed $254,000 FRESNOMLS
• 2026-03-19 Price Changed $254,000 FRESNOMLS
• 2026-01-08 Price Changed $255,000 FRESNOMLS

Property tax history

+2.6%/yr

Latest (2025): $555 · +4.1% YoY. Source: county tax records.