900 E Rankin Rd #5 · Tulare, CA 93274

$87,000

3 bd · 2.0 ba · 1,400 sqft · Manufactured · 269 Days on market

Built 1989 Est $84k · at est. ↓ 13% 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 +5.9/15.0
• Rent growth +3.2/5.0
• Schools +3.0/10.0
• Livability +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

You are looking at a 3 Bedroom, 2 Bathroom Double Wide Manufactured Home on the Outskirts of Tulare. Home is approximately 1,400 Square Feet. Brand New HVAC A/C Unit which is still under Warranty. Brand New Water Heater, also still under Warranty. Located on an Oversize Lot Space with plenty of Yard Space. Property boast's easy access to HWY 99. Among the amenities in the community are a swimming pool, basketball court, shuffleboard court, and clubhouse with Internet cafe and pool table.

Key facts

• Oversize lot space
• Swimming pool
• Basketball court

Tags

• DOUBLE WIDE MANUFACTURED HOME
• BRAND NEW HVAC A/C UNIT
• BRAND NEW WATER HEATER
• OVERSIZE LOT SPACE
• SWIMMING POOL
• BASKETBALL COURT

Property features AI

Exterior

• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected; Natural gas connected; Natural gas available
• Home design: Manufactured in park; Manufactured home (double wide); Single-story (manufactured home layout)
• Construction: 24 ft by 60 ft double wide mobile home; Aluminum skirting
• Exterior features: Composition roof; Private pool (on the property); Community pool access

Interior

• Bedrooms: Double wide manufactured home (dimensions provided separately)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Central heating; Central air conditioning

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $87k.

Deal economics

• At list price, monthly cash flow is $946 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $87k).
• Recommended offer: $77k (12.0% below list) — sets the bar for market timing.
• Cap rate 21.1% vs local median 3.3% in Tulare — 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 58/100 on livability (#701 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: commute C-, employment D+, schools D-.
• Tulare Joint Union High (suburban): math 18% / reading 52% proficiency, ranked #280 of 517 in CA (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.7%/yr); 352 active listings in the ZIP; 1,447 units permitted in Tulare County in 2024 (307 in 5+ unit buildings).
• This rent runs 35% of the median local income ($73k/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 $601 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Tulare County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 2.7% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 269 days — a 12% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $76,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 269 days. Have you received any prior offers? Is the seller open to a 12% 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 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: 2.43% ✓
• Cap rate: 21.07%
• Cash-on-cash: 52.78%
• DSCR: 3.35
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $84,000
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
900 E Rankin Rd Rd SE #72	0.11mi	3/2.0	1,440 (+3%)	2mo	$129,000	$90	88
900 E Rankin Rd #69	0.11mi	4/2.0 (+1)	1,400 (0%)	6mo	$45,000	$32	85
900 E Rankin Ave #3	0.11mi	3/2.0	1,440 (+3%)	6mo	$79,000	$55	85
900 E Rankin Rd #134	0.11mi	3/2.0	1,500 (+7%)	11mo	$90,000	$60	74
900 E Rankin Ave #70	0.11mi	3/2.0	1,560 (+11%)	21mo	$82,000	$53	58
900 E Rankin Rd #98	0.12mi	3/2.0	1,248 (-11%)	23mo	$110,000	$88	57

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 · 2.67% rent growth · sell at horizon

5-year hold

• IRR: 43.6%
• Equity multiple: 2.87×
• Total profit: $45,572
• Equity at exit: $12,972

10-year hold

• IRR: 49.4%
• Equity multiple: 5.72×
• Total profit: $114,866
• Equity at exit: $7,522

Cash invested: $24,360 (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 93274

• Rents YoY: 2.7%
• Active inventory: 352
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $2,117 medium
• Mortgage (P&I): −$456
• Tax est. 1.5%: −$109 /mo · $1,305/yr
• Insurance: −$36
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$445
• Net cashflow: $946

Break-even live

Break-even rent $920

Max offer price $87,000

Occupancy floor 50%

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: $21,750
• Closing costs: $2,610
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $87,000 Active 269 DOM
2. 2026-06-17
   days on market $87,000 Active 268 DOM
3. 2026-06-16
   days on market $87,000 Active 267 DOM
4. 2026-06-15
   days on market $87,000 Active 266 DOM
5. 2026-06-14
   days on market $87,000 Active 264 DOM
6. 2026-06-13
   days on market $87,000 Active 263 DOM
7. 2026-06-10
   days on market $87,000 Active 261 DOM
8. 2026-06-09
   days on market $87,000 Active 260 DOM
9. 2026-06-08
   days on market $87,000 Active 259 DOM
10. 2026-06-07
    days on market $87,000 Active 258 DOM
11. 2026-06-05
    days on market $87,000 Active 255 DOM
12. 2026-06-03
    days on market $87,000 Active 254 DOM
13. 2026-06-02
    days on market $87,000 Active 253 DOM
14. 2026-06-01
    days on market $87,000 Active 252 DOM
15. 2026-05-31
    days on market $87,000 Active 251 DOM
16. 2026-05-30
    days on market $87,000 Active 250 DOM
17. 2025-09-22
    listed $87,000 Active
18. 2025-03-01
    price $89,000
19. 2024-10-12
    price $92,000
20. 2024-10-02
    price $94,900
21. 2024-09-13
    status Active
22. 2024-04-17
    price $96,000
23. 2024-04-05
    price $97,900
24. 2024-03-12
    listed $99,900 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 A · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 33 unhealthy d/yr today · 38 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,407
• − Mortgage interest: −$4,873
• − Property taxes: −$1,305
• − Insurance: −$1,937
• − Repairs & maintenance: −$2,033
• − Management: −$2,033
• − Depreciation: −$2,531
• Taxable income: $10,695
• Est. tax owed @ 24.0%: −$2,567
• After-tax cash flow: $8,787/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: Tulare Joint Union High
• NCES district ID: 0639930
• Math proficiency: 18% ▼ -6.00%
• Reading proficiency: 52% ▼ -1.00%
• Median HH income: $46,858
• Composite: 29.91/100
• National rank: #6384
• State rank: #280 of 517 in CA

Livability — Tulare

• Score: 58/100
• State rank: #701
• US rank: #21185

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tulare, CA
• County: Tulare County · 323,826 people
• City population: 80,026
• Metro: Visalia, CA
• Population (ZIP): 80,026
• Household income: $72,650
• Rent vs Own: 42.9% rent · 57.1% own
• Severe rent burden: 2393.0

Population outlook (Tulare County) Hauer SSP2

• Today (2025): 484,681 people
• By 2030: 496,241 · +2.4%
• By 2040: 518,507 · +7.0%
• By 2050: 534,920 · +10.4%
• By 2075: 548,417 · +13.2%
• By 2100: 513,085 · +5.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (64%)
• Race & ethnicity: Hispanic / Latino 64% White 29% Two or more races 24% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 60%
• Common ancestry: Russian 7% Iranian 1% Italian 1%
• Foreign-born: 19% · Canada, Vietnam
• Languages at home: 52% English-only · Spanish 42% Other Indo-European 3% Other Asian/Pacific 1%

Political lean MEDSL · Tulare

• 2024 margin: Strong R (+20.7) · D 38.5% · R 59.2% · Other 2.3%
• 2008→2024 swing: -5.4pp toward R · 2008: -15.3pp · 2024: -20.7pp
• All cycles: 2024: R+20.7 2020: R+7.8 2016: R+12.1 2012: R+17.8 2008: R+15.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -402.03%
• Current HPI: 316.0806
• Rent YoY: ▲ 2.67%
• Metro: Visalia, 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

-12.9% since first listed

8 events — show timeline

• 2025-09-22 Listed $87,000 TCMLS
• 2025-03-01 Price Changed $89,000 TCMLS
• 2024-10-12 Price Changed $92,000 TCMLS
• 2024-10-02 Price Changed $94,900 TCMLS
• 2024-09-13 Relisted — TCMLS
• 2024-04-17 Price Changed $96,000 TCMLS
• 2024-04-05 Price Changed $97,900 TCMLS
• 2024-03-12 Listed $99,900 TCMLS