364 Farmersville Rd

Farmersville, CA 93223

$159,900D+

1 bd · 75.0 ba · 500 sqft · Built 1932 · SingleFamily · Active · 44 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,450/mo
• Mortgage (P&I): −$839
• Tax + insurance: −$189
• HOA: −$0
• Vac / Maint / Mgmt: −$304
• Net cashflow: $117/mo
• Annual: $1,410/yr
• Cap rate: 7.67%
• Cash-on-cash: 4.93%
• DSCR: 1.22
• 1% rule: 0.91%
• Cash to close: $44,772

Investor read

• This is a 1-bed/75.0-bath single-family listed at $160k.
• At list price, monthly cash flow is $117 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $145k (9.3% below list).
• It's been on market 44 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $145k (9.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 58/100 on livability (#723 in CA) — a working-class tenant base; expect higher turnover. Strengths: commute A+, housing A+; Watch: crime D+, cost of living D+, amenities F.
• Farmersville Unified (suburban): math 9% / reading 22% proficiency, ranked #492 of 517 in CA (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 81% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: J. E. Hester Elementary (385 students, 90% FRL); Freedom Elementary (math 11% / reading 21%, grade F, #452 of 498 statewide, top 91%, 572 students, 86% FRL); Farmersville High (math 2% / reading 32%, grade F, #1,010 of 1,170 statewide, top 88%, 723 students, 80% FRL) — zoned schools at 85% FRL track the district average.
• Watch-outs: flood insurance adds $66/mo; built in 1932 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 21 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,447 units permitted in Tulare County in 2024 (307 in 5+ unit buildings).
• Tulare County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $105k; list at $160k implies a 52% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major flood risk; major wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 44 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1932 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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?
• 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.