110 E 2nd St · Hanford, CA 93230

$565,000

3 bd · 2.0 ba · 1,131 sqft · MultiFamily public records · 19 Days on market

Built 1993 7,500 sqft lot

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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 +21.2/30.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• 1% rule +4.7/10.0
• Livability +3.8/5.0
• Schools +3.6/10.0
• Rent growth +3.2/5.0
• 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: 3 units. confirmed

Listing remarks MLS

First time on the market since 2006. This Hanford triplex sits on a single parcel with three full size units. The front house is a 3 bedroom, 2 bathroom home facing 2nd Street. The rear building contains two 3 bedroom, 2 bathroom units with their own access from the alley. Recent upgrades include a new roof and new windows. All units have laundry hookups. Rents are currently below market, giving a new owner immediate upside through basic management. Please do not disturb tenants.

Key facts

• New roof
• Laundry hookups
• New windows

Tags

• NEW ROOF
• NEW WINDOWS
• LAUNDRY HOOKUPS
• THREE FULL SIZE UNITS
• OWN ACCESS FROM THE ALLEY

Property features AI

Exterior

• Parking: Open on-street parking
• Utilities: Public sewer
• Home design: Residential income property — triplex; Single-story
• Construction: Stucco and wood siding exterior; Composition roof
• Exterior features: Wood fencing

Interior

• Interior features: Gas water heater; No basement
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/2.0-bath units multifamily listed at $565k.

Deal economics

• At list price, monthly cash flow is $816 ($10k/yr) — positive. Per door: $272/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $545k (3.5% below list).
• Recommended offer: $545k (3.5% below list) — sets the bar for 1% rule.
• Cap rate 8.0% 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); 434 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 741 units permitted in Kings County in 2024 (307 in 5+ unit buildings).
• At $5,454/mo this rent would consume 86% 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 $17k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($557k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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 $300k; list at $565k implies a 88% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $545,400 (3.5% below list)

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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 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: 0.97% ✗
• Cap rate: 8.03%
• Cash-on-cash: 6.19%
• DSCR: 1.28
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $283,881
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
437 N Redington St	0.63mi	2/2.0 (-1)	1,296 (+15%)	4mo	$325,500	$251	38

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: -6.9%
• Equity multiple: 0.74×
• Total profit: $-40,468
• Equity at exit: $84,243

10-year hold

• IRR: 2.5%
• Equity multiple: 1.18×
• Total profit: $28,070
• Equity at exit: $48,851

Cash invested: $158,200 (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 93230

• Rents YoY: 2.9%
• Active inventory: 434
• Price-to-rent: 25.9×

Monthly cashflow live

• Estimated rent: $5,454 medium
• Mortgage (P&I): −$2,963
• Tax from tax record: −$294 /mo · $3,532/yr
• Insurance: −$235
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,145
• Net cashflow: $816

Break-even live

Break-even rent $4,421

Max offer price $565,000

Occupancy floor 80%

Sensitivity live

Price	-10% $1,136	-5% $976	+0% $816	+5% $656	+10% $496
Rent	-10% $385	-5% $601	+0% $816	+5% $1,031	+10% $1,247
Rate	-1.0pp $1,101	-0.5pp $960	base $816	+0.5pp $670	+1.0pp $521

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	2	$5,454
Total (3 units)			$5,454

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: $141,250
• Closing costs: $16,950
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
824 S Irwin St Hanford, CA	2.0	1.0	700	$1,395	$1.99	14d	1	0.48mi
994 S Harris St Hanford, CA	3.0	2.0	1278	$1,650	$1.29	14d	1	0.56mi
201 E 11th St Unit C Hanford, CA	2.0	1.0	700	$1,295	$1.85	22d	1	0.61mi
412 Ford St Unit 2 Hanford, CA	2.0	1.0	725	$1,150	$1.59	22d	1	0.64mi
1078 Buena Vista Ln Hanford, CA	3.0	2.5	1301	$2,200	$1.69	22d	1	1.07mi
11116 Kay Ln Hanford, CA	3.0	1.0	1008	$1,700	$1.69	22d	1	1.38mi
1373 Van Ct Hanford, CA	3.0	2.0	1236	$1,900	$1.54	22d	1	1.39mi
630 Neville St Hanford, CA	2.0	1.0	1399	$1,550	$1.11	22d	1	1.44mi

Listing history 17 events

1. 2026-06-21
   days on market $565,000 Active 19 DOM
2. 2026-06-19
   days on market $565,000 Active 17 DOM
3. 2026-06-18
   days on market $565,000 Active 16 DOM
4. 2026-06-17
   days on market $565,000 Active 15 DOM
5. 2026-06-16
   days on market $565,000 Active 14 DOM
6. 2026-06-15
   days on market $565,000 Active 13 DOM
7. 2026-06-14
   days on market $565,000 Active 11 DOM
8. 2026-06-13
   days on market $565,000 Active 10 DOM
9. 2026-06-10
   days on market $565,000 Active 8 DOM
10. 2026-06-09
    days on market $565,000 Active 7 DOM
11. 2026-06-08
    days on market $565,000 Active 6 DOM
12. 2026-06-07
    days on market $565,000 Active 5 DOM
13. 2026-06-05
    days on market $565,000 Active 2 DOM
14. 2026-06-03
    remarks 484-char remark
15. 2026-06-03
    listing id $565,000 Active 1 DOM
16. 2026-06-03
    remarks 452-char remark
17. 2026-06-03
    listed $565,000 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: $3,532 · $294/mo
• Projected year-2 tax: $4,294 · $358/mo
• Expected delta: +$762/yr (+$63/mo · 21.6%)

ⓘ 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: $65,448
• − Mortgage interest: −$31,649
• − Property taxes: −$3,532
• − Insurance: −$2,825
• − Repairs & maintenance: −$5,236
• − Management: −$5,236
• − Depreciation: −$16,436
• Taxable income: $534
• Est. tax owed @ 24.0%: −$128
• After-tax cash flow: $9,663/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

+6177.8% since first listed

8 events — show timeline

• 2026-06-02 Listed $565,000 KCBOR
• 2026-06-02 Listed $565,000 KCBOR
• 2021-01-20 Listed $375,000 KCBOR
• 2006-05-16 Sold (Public Records) $300,000 Public Records
• 2002-08-26 Sold (Public Records) $130,000 Public Records
• 1993-06-29 Sold (Public Records) $147,000 Public Records
• 1992-08-06 Sold (Public Records) $20,000 Public Records
• 1990-04-11 Sold (Public Records) $9,000 Public Records

Property tax history

+7.4%/yr

Latest (2025): $3,532 · +107.8% YoY. Source: county tax records.