1745 N Winery Ave #144 · Fresno, CA 93703

$154,000

2 bd · 2.0 ba · 968 sqft · Condo public records · 100 Days on market

Built 1990 $159/sqft · at area comps Est $162k · at est. $350/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).

• Cash flow +10.8/30.0
• ARV discount +9.7/15.0
• 1% rule +4.9/10.0
• Rent growth +4.5/5.0
• DSCR +3.1/10.0
• Livability +3.1/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Back on the market and price reduced $5K for a quick sale! Don't miss your second chance to make this one yours before it's gone again.Seize the opportunity to own or invest in this charming 2-bedroom, 1.5-bath Stonemark condo! This townhouse features a bright and spacious living room, a cozy dining area, and convenient indoor laundry hookups. Upstairs, you'll find two generous bedrooms with large windows for plenty of natural light. Enjoy your own private patio, perfect for relaxation. Conveniently located near the 180 and 168 highways, this unit is an ideal investment with great potential.NOTE: This property is being sold As Is'' and is priced to sell quickly. CASH or CONVENTIONAL financing only.

Key facts

• Large windows
• Cozy dining area
• Private patio

Tags

• PRIVATE PATIO
• INDOOR LAUNDRY HOOKUPS
• COZY DINING AREA
• GENEROUS BEDROOMS
• LARGE WINDOWS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $154k.

Deal economics

• At list price, monthly cash flow is $-69 ($-829/yr) — negative.
• To cash-flow at today's rent, offer at most $142k (7.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $152k (1.4% below list).
• Recommended offer: $140k (9.0% below list) — sets the bar for market timing.
• Cap rate 5.8% 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: Ericson Elementary (767 students, 97% FRL); Scandinavian Middle (764 students, 95% FRL); Mclane High (math 10% / reading 31%, grade F, #958 of 1,170 statewide, top 82%, 1,945 students, 94% FRL) — zoned schools average 95% FRL vs 77% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 20% at this address vs 32% district-wide (-12 pts) — the specific schools serving this property underperform the Fresno Unified average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+7.8%/yr); 69 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 2,426 units permitted in Fresno County in 2024 (296 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 100 days — a 9% lower offer ($140k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 17y 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 $32k; list at $154k implies a 374% gain — meaningful room to come down on a strong offer.

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 $140,140 (9.0% 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. It's been on market 100 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.99% ✗
• Cap rate: 5.75%
• Cash-on-cash: -1.92%
• DSCR: 0.91
• GRM: 8.4

CMA / ARV

• ARV (median comp): $161,886
• List price: $154,000
• Delta: -4.87%
• Verdict: FAIR
• Comps: 9 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 7.8% rent growth · sell at horizon

5-year hold

• IRR: -13.2%
• Equity multiple: 0.50×
• Total profit: $-21,514
• Equity at exit: $22,962

10-year hold

• IRR: 2.9%
• Equity multiple: 1.26×
• Total profit: $11,066
• Equity at exit: $13,315

Cash invested: $43,120 (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 93703

• Rents YoY: 7.8%
• Active inventory: 69
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,519 high
• Mortgage (P&I): −$808
• Tax from tax record: −$47 /mo · $569/yr
• Insurance: −$64
• HOA: −$350
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $-69

Break-even live

Break-even rent $1,607

Max offer price $141,794

Occupancy floor 100%

Sensitivity live

Price	-10% $18	-5% $-26	+0% $-69	+5% $-113	+10% $-156
Rent	-10% $-189	-5% $-129	+0% $-69	+5% $-9	+10% $51
Rate	-1.0pp $8	-0.5pp $-30	base $-69	+0.5pp $-109	+1.0pp $-150

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: $38,500
• Closing costs: $4,620
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4789 E Hedges Ave Fresno, CA	3.0	2.0	1000	$2,000	$2.00	25d	1	0.42mi
4735 E Weldon Ave Unit W119 Fresno, CA	2.0	1.0	1075	$1,425	$1.33	5d	1	0.45mi
4735 E Weldon Ave Unit W113 Fresno, CA	2.0	1.0	1075	$1,460	$1.36	4d	1	0.45mi
4730 E Lamona Ave Unit 203 Fresno, CA	2.0	1.0	800	$1,195	$1.49	45d	1	0.49mi
4585 E McKinley Ave Fresno, CA	1.0	1.0	651	$1,165	$1.79	5d	2	0.75mi
1451 N Peach Ave Fresno, CA	2.0	1.0	565	$1,300	$2.30	45d	1	0.77mi
5122 E Olive Ave Fresno, CA	1.0–3.0	1.0–2.0	835	$1,936	$2.32	3d	1	0.83mi
4745 E Cornell Ave Fresno, CA	2.0	1.0	1000	$1,695	$1.70	25d	1	0.94mi
5226 E Olive Ave Fresno, CA	1.0–2.0	1.0	669	$1,325	$1.98	5d	2	1.03mi
4530 E Thomas Ave Apt 202 Fresno, CA	2.0	1.0	950	$1,250	$1.32	45d	1	1.20mi
3313 N Maple Ave Fresno, CA	1.0–3.0	1.0–2.0	812	$1,625	$2.00	17d	1	1.30mi

HOA detail condo

• Monthly dues: $350 · $4,200/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-21
   days on market $154,000 Active 100 DOM
2. 2026-06-18
   days on market $154,000 Active 97 DOM
3. 2026-06-17
   days on market $154,000 Active 96 DOM
4. 2026-06-16
   days on market $154,000 Active 95 DOM
5. 2026-06-15
   days on market $154,000 Active 94 DOM
6. 2026-06-13
   days on market $154,000 Active 92 DOM
7. 2026-06-10
   days on market $154,000 Active 89 DOM
8. 2026-06-09
   days on market $154,000 Active 88 DOM
9. 2026-06-08
   days on market $154,000 Active 87 DOM
10. 2026-06-07
    days on market $154,000 Active 86 DOM
11. 2026-06-05
    days on market $154,000 Active 83 DOM
12. 2026-06-03
    days on market $154,000 Active 82 DOM
13. 2026-06-02
    days on market $154,000 Active 81 DOM
14. 2026-06-01
    days on market $154,000 Active 80 DOM
15. 2026-05-31
    days on market $154,000 Active 79 DOM
16. 2026-05-11
    status Active 707-char remark

    Show marketing remark (707 chars)

    Back on the market and price reduced $5K for a quick sale! Don't miss your second chance to make this one yours before it's gone again.Seize the opportunity to own or invest in this charming 2-bedroom, 1.5-bath Stonemark condo! This townhouse features a bright and spacious living room, a cozy dining area, and convenient indoor laundry hookups. Upstairs, you'll find two generous bedrooms with large windows for plenty of natural light. Enjoy your own private patio, perfect for relaxation. Conveniently located near the 180 and 168 highways, this unit is an ideal investment with great potential.NOTE: This property is being sold As Is'' and is priced to sell quickly. CASH or CONVENTIONAL financing only.

17. 2026-05-11
    price $154,000 707-char remark

    Show marketing remark (707 chars)

    Back on the market and price reduced $5K for a quick sale! Don't miss your second chance to make this one yours before it's gone again.Seize the opportunity to own or invest in this charming 2-bedroom, 1.5-bath Stonemark condo! This townhouse features a bright and spacious living room, a cozy dining area, and convenient indoor laundry hookups. Upstairs, you'll find two generous bedrooms with large windows for plenty of natural light. Enjoy your own private patio, perfect for relaxation. Conveniently located near the 180 and 168 highways, this unit is an ideal investment with great potential.NOTE: This property is being sold As Is'' and is priced to sell quickly. CASH or CONVENTIONAL financing only.

18. 2026-05-04
    historical Pending Accepting Backups 707-char remark

    Show marketing remark (707 chars)

    Back on the market and price reduced $5K for a quick sale! Don't miss your second chance to make this one yours before it's gone again.Seize the opportunity to own or invest in this charming 2-bedroom, 1.5-bath Stonemark condo! This townhouse features a bright and spacious living room, a cozy dining area, and convenient indoor laundry hookups. Upstairs, you'll find two generous bedrooms with large windows for plenty of natural light. Enjoy your own private patio, perfect for relaxation. Conveniently located near the 180 and 168 highways, this unit is an ideal investment with great potential.NOTE: This property is being sold As Is'' and is priced to sell quickly. CASH or CONVENTIONAL financing only.

19. 2026-03-03
    listed $159,000 Active 707-char remark

    Show marketing remark (707 chars)

    Back on the market and price reduced $5K for a quick sale! Don't miss your second chance to make this one yours before it's gone again.Seize the opportunity to own or invest in this charming 2-bedroom, 1.5-bath Stonemark condo! This townhouse features a bright and spacious living room, a cozy dining area, and convenient indoor laundry hookups. Upstairs, you'll find two generous bedrooms with large windows for plenty of natural light. Enjoy your own private patio, perfect for relaxation. Conveniently located near the 180 and 168 highways, this unit is an ideal investment with great potential.NOTE: This property is being sold As Is'' and is priced to sell quickly. CASH or CONVENTIONAL financing only.

20. 2009-09-23
    price $22,500 305-char remark

    Show marketing remark (305 chars)

    Remodeled condo in Stonewood Complex that needs some TLC. This condo features two good sized bedrooms upstairs with a downstairs family room, eating area, open kitchen, and inside laundry. Please stop by and view this home located in a complex that features club house, pool, spa, and is completely gated.

21. 2009-09-22
    soldstatus $32,500 305-char remark

    Show marketing remark (305 chars)

    Remodeled condo in Stonewood Complex that needs some TLC. This condo features two good sized bedrooms upstairs with a downstairs family room, eating area, open kitchen, and inside laundry. Please stop by and view this home located in a complex that features club house, pool, spa, and is completely gated.

22. 2009-09-22
    soldstatus $32,500

    Show marketing remark (305 chars)

    Remodeled condo in Stonewood Complex that needs some TLC. This condo features two good sized bedrooms upstairs with a downstairs family room, eating area, open kitchen, and inside laundry. Please stop by and view this home located in a complex that features club house, pool, spa, and is completely gated.

23. 2009-08-27
    historical 305-char remark

    Show marketing remark (305 chars)

    Remodeled condo in Stonewood Complex that needs some TLC. This condo features two good sized bedrooms upstairs with a downstairs family room, eating area, open kitchen, and inside laundry. Please stop by and view this home located in a complex that features club house, pool, spa, and is completely gated.

24. 2009-05-29
    listed $32,500 305-char remark

    Show marketing remark (305 chars)

    Remodeled condo in Stonewood Complex that needs some TLC. This condo features two good sized bedrooms upstairs with a downstairs family room, eating area, open kitchen, and inside laundry. Please stop by and view this home located in a complex that features club house, pool, spa, and is completely gated.

25. 2009-05-29
    listed $22,500

    Show marketing remark (305 chars)

    Remodeled condo in Stonewood Complex that needs some TLC. This condo features two good sized bedrooms upstairs with a downstairs family room, eating area, open kitchen, and inside laundry. Please stop by and view this home located in a complex that features club house, pool, spa, and is completely gated.

26. 2007-03-21
    soldstatus $150,000

ⓘ 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: $569 · $47/mo
• Projected year-2 tax: $1,170 · $98/mo
• Expected delta: +$601/yr (+$50/mo · 105.5%)

ⓘ 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 (shaded) · 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 57 unhealthy d/yr today · 60 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,230
• − Mortgage interest: −$8,626
• − Property taxes: −$569
• − Insurance: −$770
• − Repairs & maintenance: −$1,458
• − Management: −$1,458
• − HOA: −$4,200
• − Depreciation: −$4,480
• Taxable loss: −$3,333
• Est. tax savings @ 24.0%: +$800
• After-tax cash flow: $-29/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): 33,420
• Household income: $48,737
• Rent vs Own: 60.7% rent · 39.3% own
• Severe rent burden: 2076.0

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 0.56)
• Race & ethnicity: Hispanic / Latino 63% Two or more races 26% Asian 14% White 12% Black 8% Native American 1%
• Hispanic origin (detail): Mexican 60%
• Foreign-born: 21% · Canada, Vietnam
• Languages at home: 47% English-only · Spanish 41% Other Asian/Pacific 9% Other Indo-European 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: ▼ -274.09%
• Current HPI: 413.4753
• Rent YoY: ▲ 7.80%
• 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

+2.7% since first listed

11 events — show timeline

• 2026-05-11 Relisted — FRESNOMLS
• 2026-05-11 Price Changed $154,000 FRESNOMLS
• 2026-05-04 Contingent — FRESNOMLS
• 2026-03-03 Listed $159,000 FRESNOMLS
• 2009-09-23 Price Changed $22,500 FRESNOMLS
• 2009-09-22 Sold (MLS) $32,500 CRMLS
• 2009-09-22 Sold (MLS) $32,500 FRESNOMLS
• 2009-08-27 Delisted — FRESNOMLS
• 2009-05-29 Listed $22,500 CRMLS
• 2009-05-29 Listed $32,500 FRESNOMLS
• 2007-03-21 Sold (Public Records) $150,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $569 · +3.8% YoY. Source: county tax records.