1218 E Cleveland Ave #98 · Madera, CA 93638

$36,500

2 bd · 1.0 ba · 740 sqft · Other · 83 Days on market

Built 1975 11 ac lot $49/sqft · at area comps Est $38k · at est.

---

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 +15.0/30.0
• ARV discount +9.2/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +2.7/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home is located within the Meadows Mobile Home Park, a 55+ community. It features a nice open floor plan with laminate flooring in the living and dining areas, along with ample storage space throughout.With a little imagination, this home could truly shine again. It is centrally located within the park, providing easy access to the office, clubhouse, and pool.

Key facts

• 10.85 acre lot
• Community pool
• Built 1975

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $36k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $36k).
• Recommended offer: $34k (6.0% below list) — sets the bar for market timing.
• Cap rate 42.8% vs local median 4.1% in Madera — 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 51/100 on livability (#1,053 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: amenities F, commute F, employment D-.
• Madera Unified (urban): math 22% / reading 35% proficiency, ranked #1,095 of 1,400 in CA (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Millview Elementary (636 students, 99% FRL); Martin Luther King Jr. Middle (919 students, 97% FRL); Madera South High (1,994 students, 93% FRL) — zoned schools average 96% FRL vs 75% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 125 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,346 units permitted in Madera County in 2024 (8 in 5+ unit buildings).
• This rent runs 32% of the median local income ($62k/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 $252 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Madera County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($34k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wildfire risk; extreme-heat days projected 6→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $34,310 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 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: 4.62% ✓
• Cap rate: 42.80%
• Cash-on-cash: 130.37%
• DSCR: 6.80
• GRM: 1.8

CMA / ARV

• ARV (median comp): $37,934
• List price: $36,500
• Delta: -3.78%
• Verdict: FAIR
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 6.93×
• Total profit: $60,616
• Equity at exit: $5,442

10-year hold

• IRR: —
• Equity multiple: 14.56×
• Total profit: $138,586
• Equity at exit: $3,156

Cash invested: $10,220 (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 93638

• Home prices YoY: -30.1%
• Active inventory: 125
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $1,688 medium
• Mortgage (P&I): −$191
• Tax from tax record: −$16 /mo · $197/yr
• Insurance: −$15
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $1,044

Break-even live

Break-even rent $366

Max offer price $36,500

Occupancy floor 33%

Sensitivity live

Price	-10% $1,064	-5% $1,054	+0% $1,044	+5% $1,033	+10% $1,023
Rent	-10% $910	-5% $977	+0% $1,044	+5% $1,110	+10% $1,177
Rate	-1.0pp $1,062	-0.5pp $1,053	base $1,044	+0.5pp $1,034	+1.0pp $1,025

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: $9,125
• Closing costs: $1,095
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
924 E Yosemite Ave Unit 101 Madera, CA	1.0	1.0	492	$1,220	$2.48	45d	1	0.36mi
117 S K St Unit A Madera, CA	2.0	1.0	750	$1,550	$2.07	15d	1	1.36mi

Listing history 19 events

1. 2026-06-21
   days on market $36,500 Active 83 DOM
2. 2026-06-19
   days on market $36,500 Active 81 DOM
3. 2026-06-18
   days on market $36,500 Active 80 DOM
4. 2026-06-17
   days on market $36,500 Active 79 DOM
5. 2026-06-16
   days on market $36,500 Active 78 DOM
6. 2026-06-15
   days on market $36,500 Active 77 DOM
7. 2026-06-14
   days on market $36,500 Active 75 DOM
8. 2026-06-13
   days on market $36,500 Active 74 DOM
9. 2026-06-10
   days on market $36,500 Active 72 DOM
10. 2026-06-09
    days on market $36,500 Active 71 DOM
11. 2026-06-08
    days on market $36,500 Active 70 DOM
12. 2026-06-07
    days on market $36,500 Active 69 DOM
13. 2026-06-05
    days on market $36,500 Active 66 DOM
14. 2026-06-03
    days on market $36,500 Active 65 DOM
15. 2026-06-02
    days on market $36,500 Active 64 DOM
16. 2026-06-01
    days on market $36,500 Active 63 DOM
17. 2026-05-31
    days on market $36,500 Active 62 DOM
18. 2026-05-30
    days on market $36,500 Active 61 DOM
19. 2026-03-28
    listed $38,000 Active 367-char remark

    Show marketing remark (367 chars)

    This home is located within the Meadows Mobile Home Park, a 55+ community. It features a nice open floor plan with laminate flooring in the living and dining areas, along with ample storage space throughout.With a little imagination, this home could truly shine again. It is centrally located within the park, providing easy access to the office, clubhouse, and pool.

ⓘ 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: $197 · $16/mo
• Projected year-2 tax: $277 · $23/mo
• Expected delta: +$80/yr (+$7/mo · 40.5%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 9/10 Extreme
• 🌡 Heat 8/10 Severe 6 d/yr ≥106°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 38 unhealthy d/yr today · 40 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,254
• − Mortgage interest: −$2,045
• − Property taxes: −$197
• − Insurance: −$980
• − Repairs & maintenance: −$1,620
• − Management: −$1,620
• − Depreciation: −$1,062
• Taxable income: $12,729
• Est. tax owed @ 24.0%: −$3,055
• After-tax cash flow: $9,471/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: Madera Unified
• NCES district ID: 0623340
• Math proficiency: 22% ▬ 0.00%
• Reading proficiency: 35% ▲ 2.00%
• Median HH income: $43,446
• Composite: 27.2/100
• National rank: #12454
• State rank: #1095 of 1400 in CA

Livability — Madera

• Score: 51/100
• State rank: #1053
• US rank: #25190

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Madera, CA
• County: Madera County · 133,170 people
• City population: 109,650
• Metro: Madera, CA
• Population (ZIP): 50,571
• Household income: $62,374
• Rent vs Own: 44.0% rent · 56.0% own
• Severe rent burden: 1707.0

Population outlook (Madera County) Hauer SSP2

• Today (2025): 157,915 people
• By 2030: 159,604 · +1.1%
• By 2040: 163,454 · +3.5%
• By 2050: 167,071 · +5.8%
• By 2075: 171,182 · +8.4%
• By 2100: 162,781 · +3.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (83%)
• Race & ethnicity: Hispanic / Latino 83% Two or more races 22% White 11% Asian 2% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 80%
• Common ancestry: Lithuanian 1%
• Foreign-born: 32% · Canada
• Languages at home: 29% English-only · Spanish 69% Other Indo-European 2%

Political lean MEDSL · Madera

• 2024 margin: Strong R (+20.8) · D 38.4% · R 59.2% · Other 2.4%
• 2008→2024 swing: -7.5pp toward R · 2008: -13.3pp · 2024: -20.8pp
• All cycles: 2024: R+20.8 2020: R+11.6 2016: R+17.3 2012: R+19.4 2008: R+13.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -197.33%
• Current HPI: 458.5577
• Rent YoY: —
• Metro: Madera, 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

• 2026-03-28 Listed $38,000 FRESNOMLS

Property tax history

+3.3%/yr

Latest (2017): $197 · +2.9% YoY. Source: county tax records.