27388 Rd 148 · Visalia, CA 93292

$195,000

2 bd · 2.0 ba · 1,100 sqft · Land · 6 Days on market

Built 1973 10,019 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 +21.0/30.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• 1% rule +4.2/10.0
• Livability +3.6/5.0
• Rent growth +3.0/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Here's a very unique property in the country!! Currently this is a mobile home on almost a 1/4 acre of property that is permitted by the county to hold 3 mobile homes. There are two more mobile pads on the property with their own electric panels. All 3 pads share one septic and the property gets community water for $35 per month. It's a great opportunity for family members to share the site or an investor could rent out all 3 pads. Call if you have more questions.

Key facts

• 0.23 acre lot
• 4 parking spots
• Built 1973

Property features AI

Finance

• Other: Lot approximately 0.23 acres (approx. 69 x 150) with a small additional parcel (parcel 910-002-560)
• Financial info: No financial details provided

Exterior

• Parking: Driveway; 4 open parking spaces
• Security: Carbon monoxide detector(s); Smoke detector(s)
• Utilities: Private water source; Septic tank; Natural gas available and connected; Electricity connected; Water connected
• Home design: Manufactured-on-land residential property; Single-story; Faces west; Used as multi-family / residential; No shared/common walls
• Construction: Aluminum siding; Raised foundation with pillar/post/pier; Elastomeric roof; Built on a lot with an additional small parcel included
• Exterior features: Back yard; Front yard; Paved road frontage on county road; Shed(s) / storage

Interior

• Kitchen: Gas oven; Gas range; Refrigerator
• Flooring: Linoleum; Carpet
• Bathrooms: One full bathroom; One three-quarter bathroom
• Heating & cooling: Forced air heating (natural gas); Electric and evaporative cooling
• Interior features: Awning(s); Fixer condition; Has view; Carbon monoxide and smoke detectors
• Laundry & utility: Washer hookup; Electric dryer hookup; Gas dryer hookup; Laundry access outside; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath land listed at $195k.

Deal economics

• At list price, monthly cash flow is $276 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $180k (7.8% below list).
• Recommended offer: $180k (7.8% below list) — sets the bar for 1% rule.
• Cap rate 8.0% vs local median 3.3% in Visalia — 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 72/100 on livability (#196 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, employment B; Watch: amenities D, crime D-, cost of living F.
• Visalia Unified (urban): math 30% / reading 40% proficiency, ranked #273 of 517 in CA (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Annie R. Mitchell (math 37% / reading 37%, grade F, #671 of 1,571 statewide, top 44%, 783 students, 69% FRL); Divisadero Middle (math 24% / reading 44%, grade F, #183 of 498 statewide, top 38%, 749 students, 78% FRL); Mt. Whitney High (math 50% / reading 84%, grade B, #139 of 1,170 statewide, top 13%, 1,639 students, 70% FRL).
• Market conditions: Rents rising (+2.0%/yr); 313 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,447 units permitted in Tulare County in 2024 (307 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 $6k of value loss. Plan a longer hold.
• Tulare County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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

• Climate carrying-cost: moderate flood risk; major 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 $179,839 (7.8% below list)

Questions for the listing agent

1. Built in 1973 — 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. 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?
4. 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.
5. 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.
6. 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: 0.92% ✗
• Cap rate: 7.99%
• Cash-on-cash: 6.07%
• DSCR: 1.27
• GRM: 9.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.99% rent growth · sell at horizon

5-year hold

• IRR: -8.0%
• Equity multiple: 0.71×
• Total profit: $-15,927
• Equity at exit: $29,075

10-year hold

• IRR: 0.3%
• Equity multiple: 1.02×
• Total profit: $1,093
• Equity at exit: $16,860

Cash invested: $54,600 (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 93292

• Rents YoY: 2.0%
• Active inventory: 313
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,798 medium
• Mortgage (P&I): −$1,023
• Tax from tax record: −$41 /mo · $491/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $276

Break-even live

Break-even rent $1,449

Max offer price $195,000

Occupancy floor 80%

Sensitivity live

Price	-10% $386	-5% $331	+0% $276	+5% $221	+10% $166
Rent	-10% $134	-5% $205	+0% $276	+5% $347	+10% $418
Rate	-1.0pp $374	-0.5pp $326	base $276	+0.5pp $225	+1.0pp $174

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3500 Villa St Unit 3500 Visalia, CA	2.0	2.0	900	$1,600	$1.78	45d	1	1.40mi

Listing history 5 events

1. 2026-06-21
   days on market $195,000 Active 6 DOM
2. 2026-06-18
   days on market $195,000 Active 3 DOM
3. 2026-06-17
   days on market $195,000 Active 2 DOM
4. 2026-06-16
   remarks 475-char remark
5. 2026-06-16
   listed $195,000 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: $491 · $41/mo
• Projected year-2 tax: $1,482 · $124/mo
• Expected delta: +$991/yr (+$83/mo · 202.1%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (shaded) · 45% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 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 44 unhealthy d/yr today · 50 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,581
• − Mortgage interest: −$10,923
• − Property taxes: −$491
• − Insurance: −$975
• − Repairs & maintenance: −$1,726
• − Management: −$1,726
• − Depreciation: −$5,673
• Taxable income: $66
• Est. tax owed @ 24.0%: −$16
• After-tax cash flow: $3,296/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: Visalia Unified
• NCES district ID: 0641160
• Math proficiency: 30% ▼ -3.00%
• Reading proficiency: 40% ▼ -10.00%
• Median HH income: $51,672
• Composite: 30.47/100
• National rank: #6223
• State rank: #273 of 517 in CA

Livability — Visalia

• Score: 72/100
• State rank: #196
• US rank: #6351

Category grades

Amenities D Commute A+ Cost of living F Crime D- Employment B Housing A+ Health & safety F User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Tulare County · 323,826 people
• City population: 163,333
• Metro: Visalia, CA
• Population (ZIP): 45,780
• Household income: $82,872
• Rent vs Own: 38.0% rent · 62.0% own
• Severe rent burden: 962.0

Population outlook (Tulare County) Hauer SSP2

• Today (2025): 484,681 people
• By 2030: 496,241 · +2.4%
• By 2040: 518,507 · +7.0%
• By 2050: 534,920 · +10.4%
• By 2075: 548,417 · +13.2%
• By 2100: 513,085 · +5.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Hispanic / Latino 57% White 35% Two or more races 19% Asian 3% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 51%
• Common ancestry: Russian 2% Lithuanian 2% Iranian 1%
• Foreign-born: 14% · Canada
• Languages at home: 63% English-only · Spanish 33% Other Indo-European 1% Korean 1%

Political lean MEDSL · Tulare

• 2024 margin: Strong R (+20.7) · D 38.5% · R 59.2% · Other 2.3%
• 2008→2024 swing: -5.4pp toward R · 2008: -15.3pp · 2024: -20.7pp
• All cycles: 2024: R+20.7 2020: R+7.8 2016: R+12.1 2012: R+17.8 2008: R+15.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -238.10%
• Current HPI: 323.2649
• Rent YoY: ▲ 1.99%
• Metro: Visalia, 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

+457.1% since first listed

10 events — show timeline

• 2026-06-15 Listed $195,000 TCMLS
• 2025-05-02 Sold (Public Records) $160,000 Public Records
• 2025-05-02 Sold (MLS) $175,000 TCMLS
• 2025-03-10 Pending — TCMLS
• 2025-03-04 Relisted — TCMLS
• 2025-03-03 Pending — TCMLS
• 2025-02-27 Listed $175,000 TCMLS
• 1999-01-13 Sold (Public Records) $27,000 Public Records
• 1999-01-13 Sold (Public Records) $27,000 Public Records
• 1996-06-05 Sold (Public Records) $35,000 Public Records

Property tax history

-2.5%/yr

Latest (2025): $491 · -0.7% YoY. Source: county tax records.