223 W Alluvial Ave · Fresno, CA 93650

$175,000

2 bd · 1.0 ba · 672 sqft · SingleFamily public records · 9 Days on market

Built 1946 5,401 sqft lot Est $259k · 32% under

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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 +21.6/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +6.9/10.0
• Schools +5.9/10.0
• 1% rule +5.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Terrific investment property or first time home buyers located within Clovis Unified School District. Easy walking distance to River Park Shopping Center and restaurants. 2 bedrooms 1 bath with open floor plan and large lot with RV parking behind a locked gate.Property sold AS IS.

Key facts

• Near dining
• Near shopping
• As-is probate sale

Tags

• NEAR SHOPPING
• NEAR DINING
• EVERYDAY CONVENIENCES
• AS-IS PROBATE SALE

Property features AI

Exterior

• Utilities: Electric service is off; Public sewer; Public utilities
• Home design: Single-family residence
• Construction: Stucco exterior; Composition roof; Concrete foundation; Built information from public records
• Exterior features: One-level home; Urban lot; Solar installed

Interior

• Bedrooms: 1 bathroom
• Bathrooms: 1 bathroom
• Heating & cooling: No central cooling
• Interior features: No central cooling; No laundry hookups
• Laundry & utility: No laundry hookups

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $265 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Cap rate 8.1% 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: Pinedale Elementary (488 students, 87% FRL); Kastner Intermediate (1,133 students, 56% FRL); Clovis West High (2,089 students, 44% FRL) — zoned schools average 62% FRL vs 32% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 18 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 2,426 units permitted in Fresno County in 2024 (296 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Fresno County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $49k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 17y ago 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.
• Current owner paid $75k; list at $175k implies a 133% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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.

Recommended offer $175,000

Questions for the listing agent

1. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.00% ✓
• Cap rate: 8.11%
• Cash-on-cash: 6.48%
• DSCR: 1.29
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $258,720
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
103 W Alluvial Ave	0.18mi	2/1.0	650 (-3%)	1mo	$250,000	$385	85
447 W Pinedale Ave	0.30mi	3/1.0 (+1)	770 (+15%)	19mo	$145,000	$188	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.0%
• Equity multiple: 3.29×
• Total profit: $112,146
• Equity at exit: $157,654

10-year hold

• IRR: 25.2%
• Equity multiple: 7.47×
• Total profit: $316,934
• Equity at exit: $339,987

Cash invested: $49,000 (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 93650

• Home prices YoY: 2.5%
• Active inventory: 18
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,753 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$130 /mo · $1,556/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $265

Break-even live

Break-even rent $1,418

Max offer price $175,000

Occupancy floor 80%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
373 W Nees Ave Fresno, CA	1.0–2.0	1.0–2.0	867	$1,855	$2.14	2d	1	0.49mi
445 W Nees Ave Fresno, CA	1.0–2.0	1.0–2.0	847	$1,820	$2.15	1d	10	0.59mi
7722 N Angus St Fresno, CA	1.0–2.0	1.0–2.0	820	$1,575	$1.92	3d	1	0.99mi
7625 N First St Fresno, CA	1.0–2.0	1.0	739	$1,625	$2.20	1d	2	1.15mi

Listing history 8 events

1. 2026-06-18
   days on market $175,000 Active 9 DOM
2. 2026-06-17
   days on market $175,000 Active 8 DOM
3. 2026-06-16
   days on market $175,000 Active 7 DOM
4. 2026-06-15
   days on market $175,000 Active 6 DOM
5. 2026-06-13
   days on market $175,000 Active 4 DOM
6. 2026-06-13
   days on market $175,000 Active 3 DOM
7. 2026-06-10
   remarks 565-char remark
8. 2026-06-10
   listed $175,000 Active 1 DOM

ⓘ 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: $1,556 · $130/mo
• Projected year-2 tax: $1,556 · $130/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 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: $21,039
• − Mortgage interest: −$9,803
• − Property taxes: −$1,556
• − Insurance: −$875
• − Repairs & maintenance: −$1,683
• − Management: −$1,683
• − Depreciation: −$5,091
• Taxable income: $349
• Est. tax owed @ 24.0%: −$84
• After-tax cash flow: $3,094/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
• City population: 593,114
• Population (ZIP): 2,969

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: Predominantly Hispanic (77%)
• Race & ethnicity: Hispanic / Latino 77% Two or more races 33% White 12% Asian 6% Black 3%
• Hispanic origin (detail): Mexican 71%
• Common ancestry: Slovak 3% Romanian 1%
• Foreign-born: 15% · Canada
• Languages at home: 52% English-only · Spanish 41% Other Asian/Pacific 4% Other Indo-European 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: ▲ 13.16%
• Current HPI: 547.5597
• Rent YoY: —
• Metro: —
• 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

+133.3% since first listed

16 events — show timeline

• 2026-06-09 Listed $175,000 FRESNOMLS
• 2015-01-21 Price Changed $75,000 FRESNOMLS
• 2015-01-16 Sold (Public Records) $75,000 Public Records
• 2015-01-15 Sold (MLS) $75,000 FRESNOMLS
• 2014-12-09 Pending — FRESNOMLS
• 2014-12-08 Price Changed $79,900 FRESNOMLS
• 2014-11-28 Relisted — FRESNOMLS
• 2014-11-28 Price Changed $79,900 FRESNOMLS
• 2014-10-11 Pending — FRESNOMLS
• 2014-10-06 Listed $89,000 FRESNOMLS
• 2013-07-19 Sold (Public Records) $60,000 Public Records
• 2009-11-03 Sold (Public Records) $75,000 Public Records
• 2009-11-03 Sold (MLS) $75,000 FRESNOMLS
• 2009-10-12 Delisted — FRESNOMLS
• 2009-10-12 Price Changed $87,000 FRESNOMLS
• 2009-09-09 Listed $75,000 FRESNOMLS

Property tax history

+7.0%/yr

Latest (2025): $1,556 · +0.5% YoY. Source: county tax records.