363 E Rush St · Madera, CA 93638

$190,000

2 bd · 2.0 ba · 1,200 sqft · MultiFamily public records

Built 1949 6,098 sqft lot Est $224k · 15% 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 +30.0/30.0
• ARV discount +14.4/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Multi-family units

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

Listing remarks MLS

Great Duplex in Madera. Located within close proximity of schools, shopping, restaurants and more. Situated on a corner lot, this duplex features newer roof, windows, mature landscaping and more. Each unit features updated kitchens, indoor laundry rooms, AC units and yard space. Duplex also features a detached garage for parking or storage. Call today for more information

Key facts

• 6,098 sq ft lot
• Built 1949

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/2.0-bath units multifamily listed at $190k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $720/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• Cap rate 15.4% 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; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 1,346 units permitted in Madera County in 2024 (8 in 5+ unit buildings).
• At $3,425/mo this rent would consume 66% of the median local household income ($62k/yr) (locally 1707% 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 $1k of loan paydown is wiped out by about $6k 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 $53k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 12 sale attempts since 13y 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: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $190,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.80% ✓
• Cap rate: 15.39%
• Cash-on-cash: 32.49%
• DSCR: 2.45
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $224,400
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
716 Nebraska Ave	0.23mi	3/2.0 (+1)	1,203 (+0%)	4mo	$225,000	$187	81

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.6%
• Equity multiple: 2.15×
• Total profit: $60,974
• Equity at exit: $28,330

10-year hold

• IRR: 35.1%
• Equity multiple: 4.22×
• Total profit: $171,317
• Equity at exit: $16,428

Cash invested: $53,200 (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: 9.2×

Monthly cashflow live

• Estimated rent: $3,425 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$190 /mo · $2,278/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$719
• Net cashflow: $1,440

Break-even live

Break-even rent $1,602

Max offer price $190,000

Occupancy floor 53%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$3,426
Total (2 units)			$3,425

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 4 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	0.17mi
1409 Roberts Ave Madera, CA	3.0	2.0	1128	$2,250	$1.99	21d	1	0.85mi
117 S K St Unit A Madera, CA	2.0	1.0	750	$1,550	$2.07	13d	1	1.07mi
314 S N St Madera, CA	2.0	1.0	900	$1,475	$1.64	44d	1	1.39mi

Listing history 35 events

1. 2025-05-29
   historical
2. 2018-11-16
   price $177,000 379-char remark

   Show marketing remark (374 chars)

   Great Duplex in Madera. Located within close proximity of schools, shopping, restaurants and more. Situated on a corner lot, this duplex features newer roof, windows, mature landscaping and more. Each unit features updated kitchens, indoor laundry rooms, AC units and yard space. Duplex also features a detached garage for parking or storage. Call today for more information

3. 2018-11-16
   soldstatus $177,000 Sold 379-char remark

   Show marketing remark (374 chars)

   Great Duplex in Madera. Located within close proximity of schools, shopping, restaurants and more. Situated on a corner lot, this duplex features newer roof, windows, mature landscaping and more. Each unit features updated kitchens, indoor laundry rooms, AC units and yard space. Duplex also features a detached garage for parking or storage. Call today for more information

4. 2018-11-16
   soldstatus $177,000 Closed Sale 374-char remark

   Show marketing remark (374 chars)

   Great Duplex in Madera. Located within close proximity of schools, shopping, restaurants and more. Situated on a corner lot, this duplex features newer roof, windows, mature landscaping and more. Each unit features updated kitchens, indoor laundry rooms, AC units and yard space. Duplex also features a detached garage for parking or storage. Call today for more information

5. 2018-11-16
   soldstatus $177,000

   Show marketing remark (374 chars)

   Great Duplex in Madera. Located within close proximity of schools, shopping, restaurants and more. Situated on a corner lot, this duplex features newer roof, windows, mature landscaping and more. Each unit features updated kitchens, indoor laundry rooms, AC units and yard space. Duplex also features a detached garage for parking or storage. Call today for more information

6. 2018-11-16
   soldstatus $177,000

   Show marketing remark (374 chars)

   Great Duplex in Madera. Located within close proximity of schools, shopping, restaurants and more. Situated on a corner lot, this duplex features newer roof, windows, mature landscaping and more. Each unit features updated kitchens, indoor laundry rooms, AC units and yard space. Duplex also features a detached garage for parking or storage. Call today for more information

7. 2018-09-25
   status Pending Sale 374-char remark

   Show marketing remark (379 chars)

   Great Duplex in Madera. Located within close proximity of schools, shopping, restaurants and more. Situated on a corner lot, this duplex features newer roof, windows, mature landscaping and more. Each unit features updated kitchens, indoor laundry rooms, AC units and yard space. Duplex also features a detached garage for parking or storage. Call today for more information

8. 2018-09-25
   status Pending 379-char remark

   Show marketing remark (379 chars)

   Great Duplex in Madera. Located within close proximity of schools, shopping, restaurants and more. Situated on a corner lot, this duplex features newer roof, windows, mature landscaping and more. Each unit features updated kitchens, indoor laundry rooms, AC units and yard space. Duplex also features a detached garage for parking or storage. Call today for more information

9. 2018-09-25
   price $190,000 379-char remark

   Show marketing remark (379 chars)

   Great Duplex in Madera. Located within close proximity of schools, shopping, restaurants and more. Situated on a corner lot, this duplex features newer roof, windows, mature landscaping and more. Each unit features updated kitchens, indoor laundry rooms, AC units and yard space. Duplex also features a detached garage for parking or storage. Call today for more information

10. 2018-07-26
    status Active 379-char remark

    Show marketing remark (374 chars)

    Great Duplex in Madera. Located within close proximity of schools, shopping, restaurants and more. Situated on a corner lot, this duplex features newer roof, windows, mature landscaping and more. Each unit features updated kitchens, indoor laundry rooms, AC units and yard space. Duplex also features a detached garage for parking or storage. Call today for more information

11. 2018-07-26
    status Active 374-char remark

    Show marketing remark (374 chars)

    Great Duplex in Madera. Located within close proximity of schools, shopping, restaurants and more. Situated on a corner lot, this duplex features newer roof, windows, mature landscaping and more. Each unit features updated kitchens, indoor laundry rooms, AC units and yard space. Duplex also features a detached garage for parking or storage. Call today for more information

12. 2018-07-10
    status Pending 379-char remark

    Show marketing remark (374 chars)

    Great Duplex in Madera. Located within close proximity of schools, shopping, restaurants and more. Situated on a corner lot, this duplex features newer roof, windows, mature landscaping and more. Each unit features updated kitchens, indoor laundry rooms, AC units and yard space. Duplex also features a detached garage for parking or storage. Call today for more information

13. 2018-07-10
    status Pending Sale 374-char remark

    Show marketing remark (374 chars)

    Great Duplex in Madera. Located within close proximity of schools, shopping, restaurants and more. Situated on a corner lot, this duplex features newer roof, windows, mature landscaping and more. Each unit features updated kitchens, indoor laundry rooms, AC units and yard space. Duplex also features a detached garage for parking or storage. Call today for more information

14. 2018-06-20
    status Active 374-char remark

    Show marketing remark (379 chars)

    Great Duplex in Madera. Located within close proximity of schools, shopping, restaurants and more. Situated on a corner lot, this duplex features newer roof, windows, mature landscaping and more. Each unit features updated kitchens, indoor laundry rooms, AC units and yard space. Duplex also features a detached garage for parking or storage. Call today for more information

15. 2018-06-20
    status Active 379-char remark

    Show marketing remark (379 chars)

    Great Duplex in Madera. Located within close proximity of schools, shopping, restaurants and more. Situated on a corner lot, this duplex features newer roof, windows, mature landscaping and more. Each unit features updated kitchens, indoor laundry rooms, AC units and yard space. Duplex also features a detached garage for parking or storage. Call today for more information

16. 2018-06-18
    status Pending 379-char remark

    Show marketing remark (379 chars)

    Great Duplex in Madera. Located within close proximity of schools, shopping, restaurants and more. Situated on a corner lot, this duplex features newer roof, windows, mature landscaping and more. Each unit features updated kitchens, indoor laundry rooms, AC units and yard space. Duplex also features a detached garage for parking or storage. Call today for more information

17. 2018-06-16
    status Pending Sale 374-char remark

    Show marketing remark (374 chars)

    Great Duplex in Madera. Located within close proximity of schools, shopping, restaurants and more. Situated on a corner lot, this duplex features newer roof, windows, mature landscaping and more. Each unit features updated kitchens, indoor laundry rooms, AC units and yard space. Duplex also features a detached garage for parking or storage. Call today for more information

18. 2018-06-02
    listed $190,000

    Show marketing remark (374 chars)

    Great Duplex in Madera. Located within close proximity of schools, shopping, restaurants and more. Situated on a corner lot, this duplex features newer roof, windows, mature landscaping and more. Each unit features updated kitchens, indoor laundry rooms, AC units and yard space. Duplex also features a detached garage for parking or storage. Call today for more information

19. 2018-06-02
    listed $190,000 Active 379-char remark

    Show marketing remark (374 chars)

    Great Duplex in Madera. Located within close proximity of schools, shopping, restaurants and more. Situated on a corner lot, this duplex features newer roof, windows, mature landscaping and more. Each unit features updated kitchens, indoor laundry rooms, AC units and yard space. Duplex also features a detached garage for parking or storage. Call today for more information

20. 2018-06-02
    listed $190,000 Active 374-char remark

    Show marketing remark (374 chars)

    Great Duplex in Madera. Located within close proximity of schools, shopping, restaurants and more. Situated on a corner lot, this duplex features newer roof, windows, mature landscaping and more. Each unit features updated kitchens, indoor laundry rooms, AC units and yard space. Duplex also features a detached garage for parking or storage. Call today for more information

21. 2018-06-02
    listed $190,000

    Show marketing remark (374 chars)

    Great Duplex in Madera. Located within close proximity of schools, shopping, restaurants and more. Situated on a corner lot, this duplex features newer roof, windows, mature landscaping and more. Each unit features updated kitchens, indoor laundry rooms, AC units and yard space. Duplex also features a detached garage for parking or storage. Call today for more information

22. 2018-03-21
    historical
23. 2018-03-21
    historical
24. 2017-12-14
    price $190,000
25. 2017-11-10
    price $190,000
26. 2017-09-21
    listed $200,000 Active
27. 2017-09-21
    listed $190,000
28. 2015-02-16
    soldstatus $120,000 Closed Sale
29. 2015-02-13
    soldstatus $120,000
30. 2015-01-29
    status Pending Sale
31. 2014-11-18
    price $129,900
32. 2014-09-23
    price $134,500
33. 2014-09-17
    listed $135,000 Active
34. 2013-11-30
    historical
35. 2013-10-01
    listed $140,000

ⓘ 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: $2,278 · $190/mo
• Projected year-2 tax: $2,278 · $190/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $41,100
• − Mortgage interest: −$10,643
• − Property taxes: −$2,278
• − Insurance: −$950
• − Repairs & maintenance: −$3,288
• − Management: −$3,288
• − Depreciation: −$5,527
• Taxable income: $15,126
• Est. tax owed @ 24.0%: −$3,630
• After-tax cash flow: $13,655/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

+26.4% since first listed

35 events — show timeline

• 2025-05-29 Delisted — KCBOR
• 2018-11-16 Price Changed $177,000 FRESNOMLS
• 2018-11-16 Sold (Public Records) $177,000 Public Records
• 2018-11-16 Sold (MLS) $177,000 SDMLS
• 2018-11-16 Sold (MLS) $177,000 CRMLS
• 2018-11-16 Sold (MLS) $177,000 FRESNOMLS
• 2018-09-25 Pending — CRMLS
• 2018-09-25 Pending — FRESNOMLS
• 2018-09-25 Price Changed $190,000 FRESNOMLS
• 2018-07-26 Relisted — FRESNOMLS
• 2018-07-26 Relisted — CRMLS
• 2018-07-10 Pending — FRESNOMLS
• 2018-07-10 Pending — CRMLS
• 2018-06-20 Relisted — CRMLS
• 2018-06-20 Relisted — FRESNOMLS
• 2018-06-18 Pending — FRESNOMLS
• 2018-06-16 Pending — CRMLS
• 2018-06-02 Listed $190,000 SDMLS
• 2018-06-02 Listed $190,000 CRMLS
• 2018-06-02 Listed $190,000 FRESNOMLS
• 2018-06-02 Listed $190,000 KCBOR
• 2018-03-21 Listing Removed — SDMLS
• 2018-03-21 Listing Removed — CRMLS
• 2017-12-14 Price Changed $190,000 CRMLS
• 2017-11-10 Price Changed $190,000 FRESNOMLS
• 2017-09-21 Listed $200,000 CRMLS
• 2017-09-21 Listed $190,000 SDMLS
• 2015-02-16 Sold (MLS) $120,000 CRMLS
• 2015-02-13 Sold (Public Records) $120,000 Public Records
• 2015-01-29 Pending — CRMLS
• 2014-11-18 Price Changed $129,900 CRMLS
• 2014-09-23 Price Changed $134,500 FRESNOMLS
• 2014-09-17 Listed $135,000 CRMLS
• 2013-11-30 Listing Removed — CRMLS
• 2013-10-01 Listed $140,000 CRMLS

Property tax history

+10.8%/yr

Latest (2025): $2,278 · -0.7% YoY. Source: county tax records.