132 E 10th St · Hanford, CA 93230

$595,000

8 bd · 4.0 ba · 3,206 sqft · MultiFamily public records · 350 Days on market

Built 1904 7,875 sqft lot Est $398k · 50% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Schools +3.6/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Beautiful Victorian quadruplex in the heart of Downtown Hanford!!! Seller financing available. Located across the street from the Children's Story Book Garden & Museum, and a short walking distance to the Hanford Library, King's Art Center, Fox Theater, and everything Downtown Hanford has to offer. 132 & 134 E Tenth St. are second story units, accessed by a beautiful wrap around porch and foyer. Unit 132 is a 2 bed 1 bath. Unit 134 is a 1 bed 1 bath unit with a balcony overlooking Harris Street. 500 & 502 N Harris St. are first floor 1 bed 1 bath units, with a communal porch accessed from the back door of both units. This communal porch leads to a laundry room that service

Key facts

• Wrap around porch
• Victorian quadruplex
• Mature trees

Tags

• VICTORIAN QUADRUPLEX
• WRAP AROUND PORCH
• MATURE TREES

Property features AI

Finance

• Other: Zoned RM-3; Lot roughly 0.18 acres (approx. 101' x 77')

Exterior

• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Water connected; Sewer connected; Natural gas available
• Home design: Residential income property; Quadruplex
• Exterior features: Asphalt shingle roof; Corner lot

Interior

• Heating & cooling: Natural gas heating available; Wall furnaces; Ceiling fans; Wall/window air conditioning units
• Interior features: Ceiling fans; Wall/window air conditioning units; Wall furnaces

What this means for you Summary

Snapshot

• This is a 4 × 5-bed/4.0-bath units multifamily listed at $595k.

Deal economics

• At list price, monthly cash flow is $4k ($51k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $595k).
• Recommended offer: $524k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.9% vs local median 3.9% in Hanford — 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 75/100 on livability (#121 in CA, #4,255 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, amenities B; Watch: crime D+, health & safety D+, cost of living F.
• Hanford Joint Union High (urban): math 20% / reading 58% proficiency, ranked #765 of 1,400 in CA (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.9%/yr); 430 active listings in the ZIP; solid renter incomes; 741 units permitted in Kings County in 2024 (307 in 5+ unit buildings).
• At $9,866/mo this rent would consume 156% of the median local household income ($76k/yr) (locally 2081% 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 $4k of loan paydown is wiped out by about $18k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 2.9% rent growth), your $167k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 350 days — a 12% lower offer ($524k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $190k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $115k; list at $595k implies a 417% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1904 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate 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 $523,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 350 days. Have you received any prior offers? Is the seller open to a 12% 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. Built in 1904 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.66% ✓
• Cap rate: 14.89%
• Cash-on-cash: 30.71%
• DSCR: 2.37
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $397,544
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
307 W 3rd St	0.63mi	9/6.0 (+1)	3,577 (+12%)	8mo	$445,000	$124	32

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 · 2.87% rent growth · sell at horizon

5-year hold

• IRR: 25.3%
• Equity multiple: 2.04×
• Total profit: $173,622
• Equity at exit: $88,716

10-year hold

• IRR: 32.9%
• Equity multiple: 3.97×
• Total profit: $494,709
• Equity at exit: $51,445

Cash invested: $166,600 (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 93230

• Rents YoY: 2.9%
• Active inventory: 430
• Price-to-rent: 20.1×

Monthly cashflow live

• Estimated rent: $9,866 medium
• Mortgage (P&I): −$3,120
• Tax from tax record: −$163 /mo · $1,952/yr
• Insurance: −$248
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,072
• Net cashflow: $4,263

Break-even live

Break-even rent $4,469

Max offer price $595,000

Occupancy floor 52%

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

Units	Beds	Baths	Est. rent
▸ 4× units	5	4	$9,868
Total (4 units)			$9,866

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: $148,750
• Closing costs: $17,850
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-10
   days on market $595,000 Active 350 DOM
2. 2026-06-09
   days on market $595,000 Active 349 DOM
3. 2026-06-08
   days on market $595,000 Active 348 DOM
4. 2026-06-07
   days on market $595,000 Active 347 DOM
5. 2026-06-05
   days on market $595,000 Active 344 DOM
6. 2026-06-03
   days on market $595,000 Active 343 DOM
7. 2026-06-02
   days on market $595,000 Active 342 DOM
8. 2026-06-01
   days on market $595,000 Active 341 DOM
9. 2026-05-31
   days on market $595,000 Active 340 DOM
10. 2026-05-30
    days on market $595,000 Active 339 DOM
11. 2026-03-24
    price $595,000
12. 2026-03-12
    price $625,000
13. 2026-01-23
    price $635,000
14. 2026-01-03
    status Active
15. 2025-12-15
    status Pending
16. 2025-11-20
    price $650,000
17. 2025-10-23
    price $675,000
18. 2025-09-09
    price $695,000
19. 2025-08-24
    price $710,000
20. 2025-08-10
    price $725,000
21. 2025-07-23
    price $740,000
22. 2025-07-06
    price $755,000
23. 2025-06-26
    price $770,000
24. 2025-06-06
    listed $785,000 Active
25. 2000-02-02
    soldstatus $115,000
26. 1994-08-29
    soldstatus $125,089

ⓘ 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: $1,952 · $163/mo
• Projected year-2 tax: $4,522 · $377/mo
• Expected delta: +$2,570/yr (+$214/mo · 131.7%)

ⓘ 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 5/10 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 49 unhealthy d/yr today · 50 by 30 yrs out

Taxation est. · year 1

• Rental income: $118,392
• − Mortgage interest: −$33,329
• − Property taxes: −$1,952
• − Insurance: −$2,975
• − Repairs & maintenance: −$9,471
• − Management: −$9,471
• − Depreciation: −$17,309
• Taxable income: $43,884
• Est. tax owed @ 24.0%: −$10,532
• After-tax cash flow: $40,628/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: Hanford Joint Union High
• NCES district ID: 0616500
• Math proficiency: 20% ▲ 1.00%
• Reading proficiency: 58% ▬ 0.00%
• Median HH income: $47,265
• Composite: 35.8/100
• National rank: #9626
• State rank: #765 of 1400 in CA

Livability — Hanford

• Score: 75/100
• State rank: #121
• US rank: #4255

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hanford, CA
• County: Kings County · 107,655 people
• City population: 69,684
• Metro: Hanford-Corcoran, CA
• Population (ZIP): 69,684
• Household income: $76,023
• Rent vs Own: 38.7% rent · 61.3% own
• Severe rent burden: 2081.0

Population outlook (Kings County) Hauer SSP2

• Today (2025): 147,136 people
• By 2030: 145,623 · -1.0%
• By 2040: 146,017 · -0.8%
• By 2050: 145,239 · -1.3%
• By 2075: 131,479 · -10.6%
• By 2100: 103,967 · -29.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Hispanic / Latino 52% White 35% Two or more races 19% Black 5% Asian 3% Native American 2%
• Hispanic origin (detail): Mexican 49%
• Common ancestry: Russian 6% Italian 2% Lithuanian 1%
• Foreign-born: 17% · Canada
• Languages at home: 65% English-only · Spanish 31% Other Indo-European 2% Tagalog/Filipino 2%

Political lean MEDSL · Kings

• 2024 margin: Strong R (+23.0) · D 37.4% · R 60.4% · Other 2.2%
• 2008→2024 swing: -8.9pp toward R · 2008: -14.1pp · 2024: -23.0pp
• All cycles: 2024: R+23.0 2020: R+12.2 2016: R+14.1 2012: R+16.3 2008: R+14.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -267.79%
• Current HPI: 321.3409
• Rent YoY: ▲ 2.87%
• Metro: Hanford-Corcoran, 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

+375.7% since first listed

16 events — show timeline

• 2026-03-24 Price Changed $595,000 TCMLS
• 2026-03-12 Price Changed $625,000 TCMLS
• 2026-01-23 Price Changed $635,000 TCMLS
• 2026-01-03 Relisted — TCMLS
• 2025-12-15 Pending — TCMLS
• 2025-11-20 Price Changed $650,000 TCMLS
• 2025-10-23 Price Changed $675,000 TCMLS
• 2025-09-09 Price Changed $695,000 TCMLS
• 2025-08-24 Price Changed $710,000 TCMLS
• 2025-08-10 Price Changed $725,000 TCMLS
• 2025-07-23 Price Changed $740,000 TCMLS
• 2025-07-06 Price Changed $755,000 TCMLS
• 2025-06-26 Price Changed $770,000 TCMLS
• 2025-06-06 Listed $785,000 TCMLS
• 2000-02-02 Sold (Public Records) $115,000 Public Records
• 1994-08-29 Sold (Public Records) $125,089 Public Records

Property tax history

+1.6%/yr

Latest (2025): $1,952 · +3.7% YoY. Source: county tax records.