317 W Sierra Ave #114 · Fresno, CA 93704

$199,000

3 bd · 2.0 ba · 1,268 sqft · Condo public records · 28 Days on market

Built 1980 $157/sqft · 25% below area Est $264k · 25% under $452/mo HOA · 23% of rent

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +7.6/30.0
• 1% rule +4.8/10.0
• Rent growth +3.2/5.0
• Livability +3.1/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• DSCR +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Don't miss your opportunity to live in this beautiful and well cared for 3 bed & 2 bath home located in the heart of Maroa Condos. It has vaulted ceilings, a wall of windows that look to the tastefully landscaped patio as well as a fireplace in the living room. There is an eating area in the bright kitchen. The Maroa Condos are conveniently located, near River Park, Fig Garden Village, and popular restaurants.

Key facts

• Refreshing pool
• Tall ceilings
• $452 HOA

Tags

• TALL CEILINGS
• INDOOR WASHER AND DRYER
• REFRESHING POOL

Property features AI

Finance

• HOA & community: Association amenities include pool; HOA fee $452 monthly

Exterior

• Parking: Carport (covered parking)
• Utilities: Electric service on; Public sewer; Public utilities
• Home design: Condominium; One level; Tile roof; Stucco exterior; Concrete foundation
• Construction: Stucco construction; Tile roof; Concrete foundation
• Exterior features: Private in-ground pool (fenced; community access); Urban setting

Interior

• Kitchen: Range/oven (full size); Dishwasher; Garbage disposal; Refrigerator
• Bedrooms: No common walls below (unit-style condominium)
• Flooring: Carpet; Laminate
• Bathrooms: 2 bathrooms with tub/shower and separate shower features
• Heating & cooling: Central heating and cooling
• Interior features: Double pane windows; One-level floor plan; Fireplace (1)
• Laundry & utility: Laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $199k.

Deal economics

• At list price, monthly cash flow is $-238 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $157k (21.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $194k (2.4% below list).
• Recommended offer: $157k (21.1% below list) — sets the bar for cash-flow.
• Cap rate 4.9% 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: Kratt Elementary (562 students, 79% FRL); Tenaya Middle (816 students, 66% FRL); Bullard High (math 28% / reading 55%, grade F, #498 of 1,170 statewide, top 43%, 2,492 students, 60% FRL).
• Market conditions: Rents rising (+3.0%/yr); 99 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 2,426 units permitted in Fresno County in 2024 (296 in 5+ unit buildings).
• This rent runs 32% 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 $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 26y 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 $160k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent.
• 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 $156,921 (21.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.98% ✗
• Cap rate: 4.86%
• Cash-on-cash: -5.13%
• DSCR: 0.77
• GRM: 8.5

CMA / ARV

• ARV (median comp): $264,486
• List price: $199,000
• Delta: -24.76%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.95% rent growth · sell at horizon

5-year hold

• IRR: -24.9%
• Equity multiple: 0.15×
• Total profit: $-47,242
• Equity at exit: $29,672

10-year hold

• IRR: -20.4%
• Equity multiple: -0.08×
• Total profit: $-59,962
• Equity at exit: $17,206

Cash invested: $55,720 (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 93704

• Rents YoY: 3.0%
• Active inventory: 99
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,942 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$194 /mo · $2,325/yr
• Insurance: −$83
• HOA: −$452
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $-238

Break-even live

Break-even rent $2,243

Max offer price $156,921

Occupancy floor —

Sensitivity live

Price	-10% $-126	-5% $-182	+0% $-238	+5% $-295	+10% $-351
Rent	-10% $-392	-5% $-315	+0% $-238	+5% $-161	+10% $-85
Rate	-1.0pp $-138	-0.5pp $-188	base $-238	+0.5pp $-290	+1.0pp $-342

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
91 W Sierra Ave Fresno, CA	3.0	1.5	1291	$2,500	$1.94	17d	1	0.26mi
6075 N Poplar Ave Apt E Fresno, CA	2.0	1.0	1100	$1,600	$1.45	5d	1	0.34mi
6052 N College Ave Unit A Fresno, CA	3.0	2.0	1200	$2,100	$1.75	45d	1	0.35mi
336 W Bullard Ave Fresno, CA	2.0	2.0	1100	$1,700	$1.55	45d	1	0.40mi
445 W Bullard Ave Fresno, CA	1.0–2.0	1.0–2.0	850	$1,695	$1.99	5d	2	0.54mi
135 E Stuart Ave Fresno, CA	3.0	1.0	1120	$1,995	$1.78	5d	1	0.59mi
6549 N Palm Ave Fresno, CA	2.0	2.0	1100	$1,760	$1.60	3d	2	0.71mi
5544 N Poplar Ave Fresno, CA	3.0	3.0	1868	$2,485	$1.33	45d	1	0.73mi
5669 N Fresno St Fresno, CA	2.0	1.0–2.0	916	$1,537	$1.68	3d	10	0.94mi
5270 N San Pablo Ave Fresno, CA	2.0	1.0–2.0	903	$1,545	$1.71	5d	2	1.00mi
485 E Bullard Ave Fresno, CA	2.0	1.0–2.0	907	$1,452	$1.60	5d	8	1.08mi
584 E Bullard Ave Fresno, CA	2.0	1.5	900	$1,425	$1.58	45d	1	1.12mi
6515 N Orchard St Fresno, CA	3.0	2.0	1500	$2,300	$1.53	17d	1	1.21mi
5721 N Callisch Ave Fresno, CA	3.0	1.5	1393	$1,950	$1.40	5d	1	1.25mi
1249 W Spruce Ave Unit 1249 Fresno, CA	2.0	2.0	1250	$1,975	$1.58	12d	1	1.25mi
1271 W Spruce Ave Unit 1271 Fresno, CA	2.0	2.5	1250	$1,850	$1.48	12d	1	1.28mi
526 E Barstow Ave Unit 421-107 Fresno, CA	2.0	1.0	907	$1,495	$1.65	45d	1	1.36mi
526 E Barstow Ave Unit 460-206 Fresno, CA	2.0	1.0	907	$1,445	$1.59	45d	1	1.36mi
526 E Barstow Ave Unit 5435-101 Fresno, CA	2.0	2.0	1055	$1,665	$1.58	5d	1	1.36mi
526 E Barstow Ave Unit 526-107 Fresno, CA	2.0	1.0	907	$1,485	$1.64	45d	1	1.36mi
526 E Barstow Ave Unit 5466-204 Fresno, CA	2.0	1.0	907	$1,375	$1.52	45d	1	1.36mi
526 E Barstow Ave Unit 550-204 Fresno, CA	2.0	1.0	907	$1,445	$1.59	16d	1	1.36mi
526 E Barstow Ave Unit 5426-102 Fresno, CA	2.0	2.0	1055	$1,550	$1.47	45d	1	1.36mi

HOA detail condo

• Monthly dues: $452 · $5,424/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 30 events

1. 2026-06-19
   status $199,000 Pending 28 DOM
2. 2026-06-18
   days on market $199,000 Active 28 DOM
3. 2026-06-17
   days on market $199,000 Active 27 DOM
4. 2026-06-16
   days on market $199,000 Active 26 DOM
5. 2026-06-15
   days on market $199,000 Active 25 DOM
6. 2026-06-13
   days on market $199,000 Active 23 DOM
7. 2026-06-10
   days on market $199,000 Active 20 DOM
8. 2026-06-09
   days on market $199,000 Active 19 DOM
9. 2026-06-08
   days on market $199,000 Active 18 DOM
10. 2026-06-07
    days on market $199,000 Active 17 DOM
11. 2026-06-05
    days on market $199,000 Active 14 DOM
12. 2026-06-03
    days on market $199,000 Active 13 DOM
13. 2026-06-02
    days on market $199,000 Active 12 DOM
14. 2026-06-01
    days on market $199,000 Active 11 DOM
15. 2026-05-31
    days on market $199,000 Active 10 DOM
16. 2026-05-02
    status Pending 137-char remark
17. 2026-04-24
    listed $199,000 Active 137-char remark
18. 2018-07-13
    price $149,900 417-char remark

    Show marketing remark (417 chars)

    Don't miss your opportunity to live in this beautiful and well cared for 3 bed & 2 bath home located in the heart of Maroa Condos. It has vaulted ceilings, a wall of windows that look to the tastefully landscaped patio as well as a fireplace in the living room. There is an eating area in the bright kitchen. The Maroa Condos are conveniently located, near River Park, Fig Garden Village, and popular restaurants.

19. 2018-07-13
    soldstatus $160,000 Sold 417-char remark

    Show marketing remark (417 chars)

    Don't miss your opportunity to live in this beautiful and well cared for 3 bed & 2 bath home located in the heart of Maroa Condos. It has vaulted ceilings, a wall of windows that look to the tastefully landscaped patio as well as a fireplace in the living room. There is an eating area in the bright kitchen. The Maroa Condos are conveniently located, near River Park, Fig Garden Village, and popular restaurants.

20. 2018-07-13
    soldstatus $160,000

    Show marketing remark (417 chars)

    Don't miss your opportunity to live in this beautiful and well cared for 3 bed & 2 bath home located in the heart of Maroa Condos. It has vaulted ceilings, a wall of windows that look to the tastefully landscaped patio as well as a fireplace in the living room. There is an eating area in the bright kitchen. The Maroa Condos are conveniently located, near River Park, Fig Garden Village, and popular restaurants.

21. 2018-07-01
    status Pending 417-char remark

    Show marketing remark (417 chars)

    Don't miss your opportunity to live in this beautiful and well cared for 3 bed & 2 bath home located in the heart of Maroa Condos. It has vaulted ceilings, a wall of windows that look to the tastefully landscaped patio as well as a fireplace in the living room. There is an eating area in the bright kitchen. The Maroa Condos are conveniently located, near River Park, Fig Garden Village, and popular restaurants.

22. 2018-06-30
    price $160,000 417-char remark

    Show marketing remark (417 chars)

    Don't miss your opportunity to live in this beautiful and well cared for 3 bed & 2 bath home located in the heart of Maroa Condos. It has vaulted ceilings, a wall of windows that look to the tastefully landscaped patio as well as a fireplace in the living room. There is an eating area in the bright kitchen. The Maroa Condos are conveniently located, near River Park, Fig Garden Village, and popular restaurants.

23. 2018-06-29
    listed $149,900 Active 417-char remark

    Show marketing remark (417 chars)

    Don't miss your opportunity to live in this beautiful and well cared for 3 bed & 2 bath home located in the heart of Maroa Condos. It has vaulted ceilings, a wall of windows that look to the tastefully landscaped patio as well as a fireplace in the living room. There is an eating area in the bright kitchen. The Maroa Condos are conveniently located, near River Park, Fig Garden Village, and popular restaurants.

24. 2011-07-25
    historical
25. 2011-05-14
    listed $99,000
26. 2000-05-26
    soldstatus $72,500
27. 2000-05-26
    soldstatus $72,500
28. 2000-04-04
    historical
29. 2000-04-04
    price $74,200
30. 2000-02-22
    listed $72,500

ⓘ 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: $2,325 · $194/mo
• Projected year-2 tax: $2,325 · $194/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 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: $23,302
• − Mortgage interest: −$11,147
• − Property taxes: −$2,325
• − Insurance: −$995
• − Repairs & maintenance: −$1,864
• − Management: −$1,864
• − HOA: −$5,424
• − Depreciation: −$5,789
• Taxable loss: −$6,107
• Est. tax savings @ 24.0%: +$1,466
• After-tax cash flow: $-1,393/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: 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): 28,932
• Household income: $73,234
• Rent vs Own: 44.0% rent · 56.0% own
• Severe rent burden: 1618.0

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 0.63)
• Race & ethnicity: Hispanic / Latino 45% White 41% Two or more races 19% Black 5% Asian 4%
• Hispanic origin (detail): Mexican 40%
• Common ancestry: Slovak 3% Lithuanian 2% Iranian 1%
• Foreign-born: 9% · Canada
• Languages at home: 77% English-only · Spanish 18% Other Asian/Pacific 2% French/Haitian/Cajun 1%

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: ▼ -389.99%
• Current HPI: 355.925
• Rent YoY: ▲ 2.95%
• 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

+174.5% since first listed

17 events — show timeline

• 2026-06-19 Pending — FRESNOMLS
• 2026-05-30 Relisted — FRESNOMLS
• 2026-05-02 Pending — FRESNOMLS
• 2026-04-24 Listed $199,000 FRESNOMLS
• 2018-07-13 Price Changed $149,900 FRESNOMLS
• 2018-07-13 Sold (Public Records) $160,000 Public Records
• 2018-07-13 Sold (MLS) $160,000 FRESNOMLS
• 2018-07-01 Pending — FRESNOMLS
• 2018-06-30 Price Changed $160,000 FRESNOMLS
• 2018-06-29 Listed $149,900 FRESNOMLS
• 2011-07-25 Delisted — FRESNOMLS
• 2011-05-14 Listed $99,000 FRESNOMLS
• 2000-05-26 Sold (Public Records) $72,500 Public Records
• 2000-05-26 Sold (MLS) $72,500 FRESNOMLS
• 2000-04-04 Delisted — FRESNOMLS
• 2000-04-04 Price Changed $74,200 FRESNOMLS
• 2000-02-22 Listed $72,500 FRESNOMLS

Property tax history

+7.5%/yr

Latest (2025): $2,325 · +3.9% YoY. Source: county tax records.