27428 Georgia Ave · Parkwood, CA 93637

$499,900

6 bd · 4.0 ba · 2,000 sqft · MultiFamily public records · 35 Days on market

Built 1992 9,147 sqft lot

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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 +21.1/30.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• 1% rule +4.6/10.0
• Rent growth +3.7/5.0
• Schools +2.7/10.0
• Livability +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Great investment opportunity in Madera! This property features two identical freestanding units that make up a duplex, each with its own full 2-car garage, breezeway, and private backyard area. With some TLC, this property has strong income potential for investors or owner-occupants looking to build equity.

Key facts

• Freestanding units
• 9,147 sq ft lot
• 2 garage spots

Tags

• INVESTMENT OPPORTUNITY
• FREESTANDING UNITS
• PRIVATE BACKYARD AREA
• STRONG INCOME POTENTIAL

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $500k.

Deal economics

• At list price, monthly cash flow is $587 ($7k/yr) — positive. Per door: $293/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $482k (3.6% below list).
• Recommended offer: $482k (3.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 52/100 on livability (#1,012 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: cost of living C-, schools F, amenities F.
• Madera Unified (urban): math 22% / reading 35% proficiency, ranked #1,095 of 1,400 in CA (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.8%/yr); 103 active listings in the ZIP; 1,346 units permitted in Madera County in 2024 (8 in 5+ unit buildings).
• At $4,817/mo this rent would consume 81% of the median local household income ($72k/yr) (locally 1537% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.
• Madera County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($485k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $122/mo.
• Climate carrying-cost: in FEMA flood zone AO (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 $481,700 (3.6% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.96% ✗
• Cap rate: 8.00%
• Cash-on-cash: 6.08%
• DSCR: 1.27
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.75% rent growth · sell at horizon

5-year hold

• IRR: -6.7%
• Equity multiple: 0.75×
• Total profit: $-35,072
• Equity at exit: $74,537

10-year hold

• IRR: 4.9%
• Equity multiple: 1.39×
• Total profit: $53,994
• Equity at exit: $43,222

Cash invested: $139,972 (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 93637

• Rents YoY: 4.8%
• Active inventory: 103
• Price-to-rent: 17.3×

Monthly cashflow live

• Estimated rent: $4,817 medium
• Mortgage (P&I): −$2,622
• Tax from tax record: −$266 /mo · $3,198/yr
• Insurance: −$208
• Flood insurance flood zone: −$122 /mo · $1,468/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,012
• Net cashflow: $587

Break-even live

Break-even rent $4,074

Max offer price $499,900

Occupancy floor 83%

Sensitivity live

Price	-10% $870	-5% $728	+0% $587	+5% $445	+10% $304
Rent	-10% $206	-5% $397	+0% $587	+5% $777	+10% $967
Rate	-1.0pp $839	-0.5pp $714	base $587	+0.5pp $457	+1.0pp $326

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$4,816
Total (2 units)			$4,817

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: $124,975
• Closing costs: $14,997
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-05-01
   soldstatus $470,000
2. 2026-01-10
   status Pending
3. 2025-12-05
   listed $499,900 Active
4. 2025-06-13
   status Active
5. 2025-06-13
   price $469,900
6. 2025-06-13
   historical Pending Accepting Backups
7. 2025-04-25
   listed $470,000 Active
8. 2025-04-11
   soldstatus $300,000
9. 2002-04-03
   soldstatus $118,000
10. 1997-12-15
    soldstatus $72,500

ⓘ 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: $3,198 · $266/mo
• Projected year-2 tax: $3,799 · $317/mo
• Expected delta: +$602/yr (+$50/mo · 18.8%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone AO · 70% 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 39 unhealthy d/yr today · 43 by 30 yrs out

Taxation est. · year 1

• Rental income: $57,804
• − Mortgage interest: −$28,002
• − Property taxes: −$3,198
• − Insurance: −$3,967
• − Repairs & maintenance: −$4,624
• − Management: −$4,624
• − Depreciation: −$14,543
• Taxable loss: −$1,154
• Est. tax savings @ 24.0%: +$277
• After-tax cash flow: $7,319/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: Madera Unified
• NCES district ID: 0623340
• Math proficiency: 22% ▬ 0.00%
• Reading proficiency: 35% ▲ 2.00%
• Median HH income: $43,446
• Composite: 27.2/100
• National rank: #12454
• State rank: #1095 of 1400 in CA

Livability — Parkwood

• Score: 52/100
• State rank: #1012
• US rank: #24919

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Parkwood, CA
• County: Madera County · 133,170 people
• Metro: Madera, CA
• Population (ZIP): 43,785
• Household income: $71,724
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 1537.0

Population outlook (Madera County) Hauer SSP2

• Today (2025): 157,915 people
• By 2030: 159,604 · +1.1%
• By 2040: 163,454 · +3.5%
• By 2050: 167,071 · +5.8%
• By 2075: 171,182 · +8.4%
• By 2100: 162,781 · +3.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (74%)
• Race & ethnicity: Hispanic / Latino 74% Two or more races 20% White 17% Black 4% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 70%
• Common ancestry: Italian 2% Russian 1% Lithuanian 1%
• Foreign-born: 22% · Canada, China, Jamaica
• Languages at home: 51% English-only · Spanish 46% Other Indo-European 1% Chinese 1%

Political lean MEDSL · Madera

• 2024 margin: Strong R (+20.8) · D 38.4% · R 59.2% · Other 2.4%
• 2008→2024 swing: -7.5pp toward R · 2008: -13.3pp · 2024: -20.8pp
• All cycles: 2024: R+20.8 2020: R+11.6 2016: R+17.3 2012: R+19.4 2008: R+13.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -315.84%
• Current HPI: 305.5444
• Rent YoY: ▲ 4.75%
• Metro: Madera, 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

+548.3% since first listed

10 events — show timeline

• 2026-05-01 Sold (Public Records) $470,000 Public Records
• 2026-01-10 Pending — FRESNOMLS
• 2025-12-05 Listed $499,900 FRESNOMLS
• 2025-06-13 Relisted — FRESNOMLS
• 2025-06-13 Price Changed $469,900 FRESNOMLS
• 2025-06-13 Contingent — FRESNOMLS
• 2025-04-25 Listed $470,000 FRESNOMLS
• 2025-04-11 Sold (Public Records) $300,000 Public Records
• 2002-04-03 Sold (Public Records) $118,000 Public Records
• 1997-12-15 Sold (Public Records) $72,500 Public Records

Property tax history

+4.5%/yr

Latest (2025): $3,198 · +8.1% YoY. Source: county tax records.