3138 W Dakota Ave Unit SP107 · Fresno, CA 93722

$118,250

3 bd · 2.0 ba · 1,488 sqft · Manufactured · 12 Days on market

Built 1972 Good condition Est $98k · 20% 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
• Condition / age +4.0/5.0
• Rent growth +3.5/5.0
• Livability +3.1/5.0
• Schools +2.7/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Experience comfortable living in this beautifully updated 3-bedroom, 2-bathroom manufactured home, ideally located in the Four Seasons Mobile Home Park. This residence has been thoughtfully refreshed with new paint, modern laminate flooring, and updated countertops, creating a bright and inviting atmosphere. The functional layout includes a gas stove, breakfast bar, formal dining room, indoor laundry, and a spacious living area perfect for family gatherings and relaxation. Beyond your doorstep, Four Seasons offers an array of desirable amenities, from a refreshing pool and playground to basketball courts. Enjoy the ultimate convenience with proximity to Vallarta Supermarket, Freeway 99, and

Key facts

• Formal dining room
• Spacious living area
• Gas stove

Tags

• UPDATED COUNTERTOPS
• GAS STOVE
• BREAKFAST BAR
• FORMAL DINING ROOM
• INDOOR LAUNDRY
• SPACIOUS LIVING AREA

Property features AI

Finance

• HOA & community: Community pool; Playground; Gated community; Monthly association fee

Exterior

• Parking: Carport; Has carport
• Utilities: Electric service on; Public sewer; Public utilities
• Home design: Manufactured home; Mobile home
• Construction: Vinyl siding; Other construction materials; Fiberglass roof; Wood subfloor foundation
• Exterior features: One level; Private in-ground pool (fenced; community); Urban setting; Park space rented

Interior

• Kitchen: Built-in range/oven; Refrigerator; Disposal
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: 2 bathrooms; Tub/shower
• Heating & cooling: Floor or wall heating units; Evaporative cooling
• Interior features: Disposal; Refrigerator; Gas and electric appliances; Built-in range/oven
• Laundry & utility: Inside laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $118k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $790 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $118k).
• Cap rate 14.3% 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.
• Fresno Unified (urban): math 18% / reading 47% proficiency, ranked #327 of 517 in CA (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 77% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Wishon Elementary (513 students, 93% FRL); Fort Miller Middle (623 students, 98% FRL); Fresno High (math 10% / reading 38%, grade F, #934 of 1,170 statewide, top 80%, 2,092 students, 90% FRL) — zoned schools average 94% FRL vs 77% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.8%/yr); 191 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,426 units permitted in Fresno County in 2024 (296 in 5+ unit buildings).
• This rent runs 30% of the median local income ($80k/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 $818 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Fresno County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.8% rent growth), your $33k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $118,250

Questions for the listing agent

1. Built in 1972 — 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: 1.72% ✓
• Cap rate: 14.31%
• Cash-on-cash: 28.63%
• DSCR: 2.27
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $98,208
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3138 W Dakota Ave #210	0.08mi	3/2.0	1,344 (-10%)	4mo	$42,500	$32	77
2706 W Ashlan Ave #156	0.66mi	3/2.0	1,440 (-3%)	0mo	$127,500	$89	64
2706 W Ashlan Ave #200	0.58mi	3/2.0	1,440 (-3%)	7mo	$53,500	$37	62
2706 W Ashlan Ave #158	0.66mi	2/2.0 (-1)	1,488 (0%)	6mo	$80,000	$54	59
2706 W Ashlan Ave #86	0.66mi	2/2.0 (-1)	1,440 (-3%)	4mo	$50,000	$35	56
2706 W Ashlan Ave #11	0.61mi	2/2.0 (-1)	1,440 (-3%)	7mo	$98,000	$68	56
2706 W Ashlan Ave #144	0.74mi	2/2.0 (-1)	1,440 (-3%)	0mo	$136,000	$94	55
2706 W Ashlan Ave #46	0.74mi	2/2.0 (-1)	1,440 (-3%)	1mo	$89,000	$62	54
2706 W Ashlan Ave #266	0.74mi	2/2.0 (-1)	1,440 (-3%)	2mo	$124,900	$87	53
2706 W Ashlan Ave #175	0.74mi	2/2.0 (-1)	1,436 (-4%)	3mo	$94,900	$66	52
2706 W Ashlan Ave #281	0.74mi	2/2.0 (-1)	1,344 (-10%)	1mo	$89,000	$66	44
2706 W Ashlan Ave #299	0.73mi	2/2.0 (-1)	1,310 (-12%)	1mo	$165,000	$126	40

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 · 3.82% rent growth · sell at horizon

5-year hold

• IRR: 23.9%
• Equity multiple: 1.99×
• Total profit: $32,874
• Equity at exit: $17,631

10-year hold

• IRR: 32.3%
• Equity multiple: 4.04×
• Total profit: $100,596
• Equity at exit: $10,224

Cash invested: $33,110 (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 93722

• Rents YoY: 3.8%
• Active inventory: 191
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $2,034 high
• Mortgage (P&I): −$620
• Tax est. 1.5%: −$148 /mo · $1,774/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$427
• Net cashflow: $790

Break-even live

Break-even rent $1,034

Max offer price $118,250

Occupancy floor 56%

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: $29,562
• Closing costs: $3,548
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3818 N Cheryl Ave Fresno, CA	4.0	3.0	1649	$2,500	$1.52	23d	1	0.35mi
3274 W Ashlan Ave Fresno, CA	2.0	1.0	975	$1,535	$1.57	2d	5	0.51mi
4144 N Valentine Ave Fresno, CA	2.0	1.0	960	$1,450	$1.51	16d	1	0.60mi
4144 N Valentine Ave Unit 60-147 Fresno, CA	2.0	1.0	960	$1,695	$1.77	19d	1	0.60mi
4144 N Valentine Ave Unit 84-118 Fresno, CA	2.0	1.0	960	$1,695	$1.77	43d	1	0.60mi
4144 N Valentine Ave Unit 60-158 Fresno, CA	2.0	1.0	960	$1,695	$1.77	23d	1	0.60mi
4184 N Briarwood Ave Fresno, CA	3.0	2.0	1628	$2,195	$1.35	43d	1	0.62mi
3207 W Shields Ave Fresno, CA	1.0–3.0	1.0–2.0	959	$1,725	$1.80	1d	3	0.66mi
3058 W San Gabriel Ave Fresno, CA	3.0	2.0	1284	$2,450	$1.91	43d	1	1.10mi
4597 N Emerson Ave Apt 103 Fresno, CA	2.0	2.0	1100	$1,700	$1.55	23d	1	1.10mi
1668 W Ashlan Ave Fresno, CA	2.0	1.0	877	$1,185	$1.35	23d	1	1.13mi
4264 N Bengston Ave Unit 101 Fresno, CA	2.0	1.0	950	$1,450	$1.53	43d	1	1.16mi
3572 N Blythe Ave Fresno, CA	3.0	2.0	1026	$2,095	$2.04	1d	6	1.23mi
2264 N Marks Ave Fresno, CA	2.0–3.0	1.0–2.0	950	$1,600	$1.68	1d	1	1.35mi
3326 N West Ave Fresno, CA	2.0	1.0	950	$1,225	$1.29	21d	1	1.36mi
1212 W Andrews Ave Fresno, CA	2.0	1.0	950	$1,300	$1.37	16d	1	1.40mi
4942 N Holt Ave #103 Fresno, CA	2.0	1.0	1000	$1,395	$1.40	23d	1	1.41mi
941 W Dakota Ave Fresno, CA	3.0	2.0	960	$1,895	$1.97	10d	2	1.45mi
6338 N Cecelia Ave Fresno, CA	2.0	2.0	1130	$2,050	$1.81	1d	1	1.49mi
4467 N Van Dyke Ave Fresno, CA	3.0	2.0	1292	$2,195	$1.70	3d	1	1.50mi

Listing history 10 events

1. 2026-06-18
   days on market $118,250 Active 12 DOM
2. 2026-06-17
   days on market $118,250 Active 11 DOM
3. 2026-06-16
   days on market $118,250 Active 10 DOM
4. 2026-06-15
   days on market $118,250 Active 9 DOM
5. 2026-06-13
   days on market $118,250 Active 7 DOM
6. 2026-06-10
   days on market $118,250 Active 4 DOM
7. 2026-06-09
   days on market $118,250 Active 3 DOM
8. 2026-06-08
   days on market $118,250 Active 2 DOM
9. 2026-06-07
   remarks 699-char remark
10. 2026-06-07
    listed $118,250 Active 1 DOM

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $24,412
• − Mortgage interest: −$6,624
• − Property taxes: −$1,774
• − Insurance: −$591
• − Repairs & maintenance: −$1,953
• − Management: −$1,953
• − Depreciation: −$3,440
• Taxable income: $8,078
• Est. tax owed @ 24.0%: −$1,939
• After-tax cash flow: $7,541/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.

Condition & rehab AI · 14 photos

Good 80/100 Cosmetic rehab

This well-maintained and updated manufactured home is in good condition and ready for immediate occupancy. It offers a good return on investment with minimal repairs and maintenance required.

Value-add opportunities

• Resale Painting the exterior and interior walls — Fresh paint can enhance the home's curb appeal and make it more attractive to potential buyers.
• Resale Updating the flooring — New flooring can improve the home's appearance and make it more appealing to potential buyers.
• Resale Upgrading the kitchen appliances — Modern appliances can make the home more attractive to potential buyers and increase its value.
• Resale Upgrading the bathroom fixtures — Modern bathroom fixtures can make the home more attractive to potential buyers and increase its value.

Renovation cost estimate screening

Value-add ROI direction

• Resale Painting the exterior and interior walls — Fresh paint can enhance the home's curb appeal and make it more attractive to potential buyers. ↑
• Resale Updating the flooring — New flooring can improve the home's appearance and make it more appealing to potential buyers. ↑
• Resale Upgrading the kitchen appliances — Modern appliances can make the home more attractive to potential buyers and increase its value. ↑
• Resale Upgrading the bathroom fixtures — Modern bathroom fixtures can make the home more attractive to potential buyers and increase its value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Fresno Unified
• NCES district ID: 0614550
• Math proficiency: 18% ▼ -12.00%
• Reading proficiency: 47% ▲ 9.00%
• Median HH income: $36,095
• Composite: 26.83/100
• National rank: #7111
• State rank: #327 of 517 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
• County: Fresno County · 834,801 people
• City population: 593,114
• Metro: Fresno, CA
• Population (ZIP): 86,110
• Household income: $80,285
• Rent vs Own: 38.8% rent · 61.2% own
• Severe rent burden: 3033.0

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: Hispanic / Latino 50% Two or more races 26% White 22% Asian 15% Black 9% Native American 1%
• Hispanic origin (detail): Mexican 46%
• Common ancestry: Russian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 20% · Canada, Vietnam
• Languages at home: 57% English-only · Spanish 28% Other Indo-European 8% Other Asian/Pacific 3%

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: ▼ -409.00%
• Current HPI: 364.934
• Rent YoY: ▲ 3.82%
• Metro: Fresno, 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

1 event — show timeline

• 2026-06-06 Listed $118,250 FRESNOMLS