9360 N Blackstone Ave #153 · Fresno, CA 93720

$110,000

3 bd · 2.0 ba · 1,440 sqft · Manufactured public records · 44 Days on market

Built 1979 $76/sqft · 39% below area Est $180k · 39% under ↓ 8% since listing

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.9/10.0
• Livability +3.1/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Located in Fresno within the desirable Woodward Bluffs Mobile Home Park, this spacious 2-bedroom, 2-bath home offers 1,440 sq ft of comfortable living. Built in 1979, the home features mulled windows and a full water plumbing retrofit, providing added value and peace of mind. Interior highlights include newer flooring and fresh paint throughout most rooms, creating a clean, move-in ready feel. The functional layout offers generous living spaces. Outside, enjoy the convenience of covered parking on both sides of the home along with a low-maintenance setup. The community offers a variety of amenities including a clubhouse, pool, spa, and green areas, with direct access to Woodward Park for ou

Key facts

• Newer flooring
• Fresh paint
• Covered parking

Tags

• UPDATED WINDOWS
• FULL WATER PLUMBING RETROFIT
• NEWER FLOORING
• FRESH PAINT
• COVERED PARKING
• LOW-MAINTENANCE SETUP

Property features AI

Finance

• HOA & community: Monthly association fee; Community amenities include pool, clubhouse, and green area

Exterior

• Parking: Carport; Has carport
• Utilities: Electric on; Public sewer; Public utilities
• Home design: Mobile home; Silvercrest manufacturer
• Construction: Metal siding; Wood subfloor foundation; Rolled/hot mop roof; Built as a mobile home
• Exterior features: One-story; Covered patio/porch; Shed(s); Corner lot in an urban setting; Park space rented

Interior

• Flooring: Laminate; Vinyl
• Bathrooms: 2 bathrooms
• Heating & cooling: Central heat and air conditioning; Has heating; Has cooling
• Interior features: Laminate and vinyl flooring; No basement
• Laundry & utility: Laundry inside

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $110k.

Deal economics

• At list price, monthly cash flow is $850 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $107k (3.0% below list) — sets the bar for market timing.
• Cap rate 20.2% 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+, crime F.
• Clovis Unified (suburban): math 58% / reading 72% proficiency, ranked #152 of 1,400 in CA (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Valley Oak Elementary (496 students, 34% FRL); Kastner Intermediate (1,133 students, 56% FRL); Clovis West High (2,089 students, 44% FRL).
• Market conditions: Rents rising (+1.9%/yr); 176 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $761 of loan paydown is wiped out by about $3k 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 + 1.9% rent growth), your $31k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe 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 $106,700 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 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 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 2.21% ✓
• Cap rate: 20.22%
• Cash-on-cash: 49.73%
• DSCR: 3.21
• GRM: 3.8

CMA / ARV

• ARV (median comp): $180,293
• List price: $110,000
• Delta: -38.99%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9360 N Blackstone Ave #215	0.05mi	3/2.0	1,440 (0%)	0mo	$180,000	$125	97
9360 N Blackstone Ave #112	0.06mi	3/2.0	1,440 (0%)	4mo	$185,000	$128	94
9360 Blackstone Ave #107	0.00mi	2/2.0 (-1)	1,440 (0%)	6mo	$130,000	$90	90
9360 N Blackstone Ave #237	0.00mi	2/2.0 (-1)	1,440 (0%)	6mo	$85,000	$59	90
9360 N Blackstone Ave #164	0.06mi	3/2.0	1,440 (0%)	20mo	$80,000	$56	80
8701 Highway 41 #9	0.35mi	3/2.0	1,500 (+4%)	2mo	$238,250	$159	75
9360 N Blackstone Ave #213	0.00mi	2/2.0 (-1)	1,248 (-13%)	2mo	$110,000	$88	71
8701 Highway 41 #53	0.35mi	2/2.0 (-1)	1,428 (-1%)	9mo	$260,000	$182	70
8701 Highway 41 #28	0.34mi	2/2.0 (-1)	1,440 (0%)	12mo	$183,000	$127	69
8701 Highway 41 #11	0.35mi	2/2.0 (-1)	1,440 (0%)	15mo	$247,000	$172	66
9360 N Blackstone Ave #136	0.06mi	2/2.0 (-1)	1,344 (-7%)	20mo	$95,000	$71	65
8701 Highway 41 #54	0.35mi	2/2.0 (-1)	1,248 (-13%)	5mo	$249,000	$200	52

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 · 1.91% rent growth · sell at horizon

5-year hold

• IRR: 26.9%
• Equity multiple: 2.10×
• Total profit: $33,886
• Equity at exit: $16,401

10-year hold

• IRR: 33.8%
• Equity multiple: 3.91×
• Total profit: $89,526
• Equity at exit: $9,511

Cash invested: $30,800 (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 93720

• Rents YoY: 1.9%
• Active inventory: 176
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $2,435 high
• Mortgage (P&I): −$577
• Tax from tax record: −$25 /mo · $297/yr
• Insurance: −$46
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$511
• Net cashflow: $850

Break-even live

Break-even rent $1,359

Max offer price $110,000

Occupancy floor 60%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8884 N Del Mar Ave Unit 1 Fresno, CA	2.0	2.0	1166	$2,095	$1.80	44d	1	0.57mi
326 E Deer Creek Ln Fresno, CA	3.0	2.0	1464	$2,650	$1.81	23d	1	0.82mi
645 E Champlain Dr #106 Fresno, CA	2.0	2.0	1307	$2,200	$1.68	44d	1	1.03mi
8476 N Del Mar Ave Fresno, CA	4.0	2.0	1797	$10,000	$5.56	23d	1	1.03mi
9375 N Saybrook Dr Fresno, CA	1.0–2.0	1.0–2.0	1088	$2,462	$2.26	2d	25	1.20mi
1044 E Manhattan Ave Fresno, CA	4.0	2.0	1529	$2,300	$1.50	3d	1	1.46mi

Listing history 16 events

1. 2026-06-18
   days on market $110,000 Active 44 DOM
2. 2026-06-17
   days on market $110,000 Active 43 DOM
3. 2026-06-16
   days on market $110,000 Active 42 DOM
4. 2026-06-15
   days on market $110,000 Active 41 DOM
5. 2026-06-13
   days on market $110,000 Active 39 DOM
6. 2026-06-13
   days on market $110,000 Active 38 DOM
7. 2026-06-10
   days on market $110,000 Active 36 DOM
8. 2026-06-09
   days on market $110,000 Active 35 DOM
9. 2026-06-08
   pricedays on market $110,000 Active 34 DOM
10. 2026-06-07
    days on market $120,000 Active 33 DOM
11. 2026-06-05
    days on market $120,000 Active 30 DOM
12. 2026-06-03
    days on market $120,000 Active 29 DOM
13. 2026-06-02
    days on market $120,000 Active 28 DOM
14. 2026-06-01
    days on market $120,000 Active 27 DOM
15. 2026-05-31
    days on market $120,000 Active 26 DOM
16. 2026-04-17
    listed $120,000 Active 1014-char remark

ⓘ 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: $297 · $25/mo
• Projected year-2 tax: $836 · $70/mo
• Expected delta: +$539/yr (+$45/mo · 181.5%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone AE · 17% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 44 unhealthy d/yr today · 51 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,222
• − Mortgage interest: −$6,162
• − Property taxes: −$297
• − Insurance: −$5,668
• − Repairs & maintenance: −$2,338
• − Management: −$2,338
• − Depreciation: −$3,200
• Taxable income: $9,219
• Est. tax owed @ 24.0%: −$2,213
• After-tax cash flow: $7,985/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: Clovis Unified
• NCES district ID: 0609030
• Math proficiency: 58% ▲ 1.00%
• Reading proficiency: 72% ▲ 2.00%
• Median HH income: $71,950
• Composite: 58.7/100
• National rank: #2003
• State rank: #152 of 1400 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): 50,089
• Household income: $105,050
• Rent vs Own: 43.2% rent · 56.8% own
• Severe rent burden: 1796.0

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 0.67)
• Race & ethnicity: White 48% Hispanic / Latino 28% Two or more races 16% Asian 16% Black 3%
• Hispanic origin (detail): Mexican 24%
• Common ancestry: Russian 2% Slovak 1% Italian 1%
• Foreign-born: 17% · Canada, China, Vietnam
• Languages at home: 73% English-only · Spanish 10% Other Indo-European 6% Tagalog/Filipino 2%

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: ▼ -278.23%
• Current HPI: 332.618
• Rent YoY: ▲ 1.91%
• 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

-8.3% since first listed

2 events — show timeline

• 2026-06-08 Price Changed $110,000 FRESNOMLS
• 2026-04-17 Listed $120,000 FRESNOMLS