1218 E Cleveland Ave #142 · Madera, CA 93638

$115,000

3 bd · 2.0 ba · 1,400 sqft · Other · 79 Days on market

Built 1992 $82/sqft · 51% above area ↓ 29% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +2.7/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 1218 E. Cleveland Avenue #142 in Madera, located in The Meadows, a gated 55+ community. This well-maintained manufactured home offers 3 bedrooms, 2 bathrooms, a versatile den, and an indoor laundry room, with a functional layout designed for everyday living. The home features an open floor plan with tall ceilings and large windows that bring in natural light throughout the main living areas. The kitchen includes a breakfast bar, pantry, and adjacent dining area, providing a practical space for daily use and gatherings. Additional features include central air conditioning, a covered front porch, a private outdoor area for relaxation, and a storage shed for added convenience. Located near shopping, dining, and medical services, this property offers a low-maintenance lifestyle within a gated community setting. Buyer to verify all information to their satisfaction.

Key facts

• Gated community
• Large windows
• Open floor plan

Tags

• GATED COMMUNITY
• OPEN FLOOR PLAN
• TALL CEILINGS
• LARGE WINDOWS
• BREAKFAST BAR
• PRIVATE OUTDOOR AREA

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $115k.

Deal economics

• At list price, monthly cash flow is $957 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $108k (6.0% below list) — sets the bar for market timing.
• Cap rate 17.0% vs local median 3.9% in Madera — 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 51/100 on livability (#1,053 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: schools F, amenities F, commute 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: 124 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 1,346 units permitted in Madera County in 2024 (8 in 5+ unit buildings).
• This rent runs 44% of the median local income ($62k/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 $795 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 3y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $80k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wildfire risk; extreme-heat days projected 6→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $108,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 2.00% ✓
• Cap rate: 16.98%
• Cash-on-cash: 38.16%
• DSCR: 2.70
• GRM: 4.2

CMA / ARV

• ARV (median comp): $75,938
• List price: $115,000
• Delta: 58.02%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 31.4%
• Equity multiple: 2.32×
• Total profit: $42,421
• Equity at exit: $17,147

10-year hold

• IRR: 38.5%
• Equity multiple: 4.60×
• Total profit: $115,768
• Equity at exit: $9,943

Cash invested: $32,200 (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 93638

• Home prices YoY: -30.1%
• Active inventory: 124
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $2,302 medium
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$483
• Net cashflow: $957

Break-even live

Break-even rent $1,090

Max offer price $115,000

Occupancy floor 53%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1101 Nebraska Ave Madera, CA	3.0	2.0	1380	$2,095	$1.52	13d	1	0.66mi
1243 Bristlecone Dr Madera, CA	3.0	2.0	1616	$2,395	$1.48	12d	1	0.89mi
27848 Ellis St Madera, CA	3.0	2.0	1440	$2,000	$1.39	4d	1	1.11mi

Listing history 35 events

1. 2026-06-19
   days on market $115,000 Active 79 DOM
2. 2026-06-18
   days on market $115,000 Active 78 DOM
3. 2026-06-17
   price $115,000 Active 77 DOM
4. 2026-06-17
   days on market $120,000 Active 77 DOM
5. 2026-06-16
   days on market $120,000 Active 76 DOM
6. 2026-06-15
   days on market $120,000 Active 75 DOM
7. 2026-06-14
   days on market $120,000 Active 73 DOM
8. 2026-06-13
   days on market $120,000 Active 72 DOM
9. 2026-06-10
   days on market $120,000 Active 70 DOM
10. 2026-06-09
    days on market $120,000 Active 69 DOM
11. 2026-06-08
    days on market $120,000 Active 68 DOM
12. 2026-06-07
    days on market $120,000 Active 67 DOM
13. 2026-06-05
    days on market $120,000 Active 64 DOM
14. 2026-06-03
    days on market $120,000 Active 63 DOM
15. 2026-06-02
    days on market $120,000 Active 62 DOM
16. 2026-06-01
    days on market $120,000 Active 61 DOM
17. 2026-05-31
    days on market $120,000 Active 60 DOM
18. 2026-05-30
    days on market $120,000 Active 59 DOM
19. 2026-04-14
    price $120,000 884-char remark

    Show marketing remark (910 chars)

    Welcome to 1218 E. Cleveland Avenue #142, located in The MeadowsMadera's highly desirable 55+ gated community. This well-maintained manufactured home for sale in Madera offers 3 bedrooms, 2 bathrooms, plus a versatile den and indoor laundry room. Enter inside from the covered front porch into an open floor plan with tall ceilings and large windows that fill the living space with natural light. The kitchen features a breakfast bar, pantry, and dining areaperfect for entertaining or casual meals. Additional highlights include central air conditioning, a spacious backyard area for outdoor relaxation, and a storage shed for added convenience. Enjoy peaceful, low-maintenance living in one of Madera's most sought-after senior communities near shopping, dining, and medical facilities. Don't miss this opportunityschedule your private tour today and experience the best of 55+ living in The Meadows, Madera!

20. 2026-04-14
    price $120,000 910-char remark

    Show marketing remark (910 chars)

    Welcome to 1218 E. Cleveland Avenue #142, located in The MeadowsMadera's highly desirable 55+ gated community. This well-maintained manufactured home for sale in Madera offers 3 bedrooms, 2 bathrooms, plus a versatile den and indoor laundry room. Enter inside from the covered front porch into an open floor plan with tall ceilings and large windows that fill the living space with natural light. The kitchen features a breakfast bar, pantry, and dining areaperfect for entertaining or casual meals. Additional highlights include central air conditioning, a spacious backyard area for outdoor relaxation, and a storage shed for added convenience. Enjoy peaceful, low-maintenance living in one of Madera's most sought-after senior communities near shopping, dining, and medical facilities. Don't miss this opportunityschedule your private tour today and experience the best of 55+ living in The Meadows, Madera!

21. 2026-04-14
    price $120,000

    Show marketing remark (910 chars)

    Welcome to 1218 E. Cleveland Avenue #142, located in The MeadowsMadera's highly desirable 55+ gated community. This well-maintained manufactured home for sale in Madera offers 3 bedrooms, 2 bathrooms, plus a versatile den and indoor laundry room. Enter inside from the covered front porch into an open floor plan with tall ceilings and large windows that fill the living space with natural light. The kitchen features a breakfast bar, pantry, and dining areaperfect for entertaining or casual meals. Additional highlights include central air conditioning, a spacious backyard area for outdoor relaxation, and a storage shed for added convenience. Enjoy peaceful, low-maintenance living in one of Madera's most sought-after senior communities near shopping, dining, and medical facilities. Don't miss this opportunityschedule your private tour today and experience the best of 55+ living in The Meadows, Madera!

22. 2026-04-01
    listed $125,000 Active 884-char remark

    Show marketing remark (910 chars)

    Welcome to 1218 E. Cleveland Avenue #142, located in The MeadowsMadera's highly desirable 55+ gated community. This well-maintained manufactured home for sale in Madera offers 3 bedrooms, 2 bathrooms, plus a versatile den and indoor laundry room. Enter inside from the covered front porch into an open floor plan with tall ceilings and large windows that fill the living space with natural light. The kitchen features a breakfast bar, pantry, and dining areaperfect for entertaining or casual meals. Additional highlights include central air conditioning, a spacious backyard area for outdoor relaxation, and a storage shed for added convenience. Enjoy peaceful, low-maintenance living in one of Madera's most sought-after senior communities near shopping, dining, and medical facilities. Don't miss this opportunityschedule your private tour today and experience the best of 55+ living in The Meadows, Madera!

23. 2026-04-01
    listed $125,000 Active 910-char remark

    Show marketing remark (910 chars)

    Welcome to 1218 E. Cleveland Avenue #142, located in The MeadowsMadera's highly desirable 55+ gated community. This well-maintained manufactured home for sale in Madera offers 3 bedrooms, 2 bathrooms, plus a versatile den and indoor laundry room. Enter inside from the covered front porch into an open floor plan with tall ceilings and large windows that fill the living space with natural light. The kitchen features a breakfast bar, pantry, and dining areaperfect for entertaining or casual meals. Additional highlights include central air conditioning, a spacious backyard area for outdoor relaxation, and a storage shed for added convenience. Enjoy peaceful, low-maintenance living in one of Madera's most sought-after senior communities near shopping, dining, and medical facilities. Don't miss this opportunityschedule your private tour today and experience the best of 55+ living in The Meadows, Madera!

24. 2026-04-01
    listed $125,000 Active

    Show marketing remark (910 chars)

    Welcome to 1218 E. Cleveland Avenue #142, located in The MeadowsMadera's highly desirable 55+ gated community. This well-maintained manufactured home for sale in Madera offers 3 bedrooms, 2 bathrooms, plus a versatile den and indoor laundry room. Enter inside from the covered front porch into an open floor plan with tall ceilings and large windows that fill the living space with natural light. The kitchen features a breakfast bar, pantry, and dining areaperfect for entertaining or casual meals. Additional highlights include central air conditioning, a spacious backyard area for outdoor relaxation, and a storage shed for added convenience. Enjoy peaceful, low-maintenance living in one of Madera's most sought-after senior communities near shopping, dining, and medical facilities. Don't miss this opportunityschedule your private tour today and experience the best of 55+ living in The Meadows, Madera!

25. 2026-03-15
    historical
26. 2026-01-28
    status Active
27. 2025-12-24
    status Pending Sale
28. 2025-09-15
    listed $125,000 Active
29. 2023-11-08
    soldstatus $80,000 Sold
30. 2023-11-08
    soldstatus $80,000 Closed Sale
31. 2023-09-01
    status Pending Sale
32. 2023-09-01
    status Pending
33. 2023-08-22
    price $95,000
34. 2023-08-15
    listed $95,000 Active
35. 2023-08-08
    listed $170,000 Active

ⓘ 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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 9/10 Extreme
• 🌡 Heat 8/10 Severe 6 d/yr ≥106°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 38 unhealthy d/yr today · 40 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,625
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$1,372
• − Repairs & maintenance: −$2,210
• − Management: −$2,210
• − Depreciation: −$3,345
• Taxable income: $10,320
• Est. tax owed @ 24.0%: −$2,477
• After-tax cash flow: $9,012/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 — Madera

• Score: 51/100
• State rank: #1053
• US rank: #25190

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Madera, CA
• County: Madera County · 133,170 people
• City population: 109,650
• Metro: Madera, CA
• Population (ZIP): 50,571
• Household income: $62,374
• Rent vs Own: 44.0% rent · 56.0% own
• Severe rent burden: 1707.0

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 (83%)
• Race & ethnicity: Hispanic / Latino 83% Two or more races 22% White 11% Asian 2% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 80%
• Common ancestry: Lithuanian 1%
• Foreign-born: 32% · Canada
• Languages at home: 29% English-only · Spanish 69% Other Indo-European 2%

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: ▼ -197.33%
• Current HPI: 458.5577
• Rent YoY: —
• 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

-29.4% since first listed

17 events — show timeline

• 2026-04-14 Price Changed $120,000 CRMLS
• 2026-04-14 Price Changed $120,000 TCMLS
• 2026-04-14 Price Changed $120,000 FRESNOMLS
• 2026-04-01 Listed $125,000 FRESNOMLS
• 2026-04-01 Listed $125,000 TCMLS
• 2026-04-01 Listed $125,000 CRMLS
• 2026-03-15 Listing Removed — CRMLS
• 2026-01-28 Relisted — CRMLS
• 2025-12-24 Pending — CRMLS
• 2025-09-15 Listed $125,000 CRMLS
• 2023-11-08 Sold (MLS) $80,000 CRMLS
• 2023-11-08 Sold (MLS) $80,000 FRESNOMLS
• 2023-09-01 Pending — CRMLS
• 2023-09-01 Pending — FRESNOMLS
• 2023-08-22 Price Changed $95,000 FRESNOMLS
• 2023-08-15 Listed $95,000 CRMLS
• 2023-08-08 Listed $170,000 FRESNOMLS