900 E Rankin Ave #19 · Tulare, CA 93274

$149,000

3 bd · 2.0 ba · 1,213 sqft · Manufactured · 234 Days on market

Built 2025 Est $107k · 40% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• Rent growth +3.2/5.0
• Schools +3.0/10.0
• Livability +2.9/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcoming and comfortable, Country Estates is a vibrant community with affordability in mind. You'll appreciate our well-maintained community with charming homes, unique floor plans, ample amenities, and shared events throughout the year. Immerse yourself in our lifestyle and make Country Estates Community your next home. We have NEW homes available for purchase today and empty lots that are prepared for your custom home. Come take a tour of our community, model homes, and visit our leasing office to discuss the many possibilities. We look forward to meeting you and sharing all the reasons why you will want to call Country Estates your next home. Home Features Include: • Granite Counte

Key facts

• 30 vented range hood
• Stainless steel sink
• Granite counters

Tags

• GRANITE COUNTERS
• STAINLESS STEEL SINK
• LINED OVERHEAD CABINETS
• FLAT-PANEL MDF CABINET DOORS
• 18 CF FROST-FREE REFRIGERATOR
• 30 VENTED RANGE HOOD

Property features AI

Finance

• Financial info: List price $149,000

Exterior

• Home design: Single-story (plan: Creekside Manor CM3522D)
• Construction: Living area approximately 1213; Spec new construction
• Exterior features: Address: 900 E Rankin Ave #19, Tulare, CA 93274

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Spec home (Creekside Manor CM3522D)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $149k.

Deal economics

• At list price, monthly cash flow is $477 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• Recommended offer: $131k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.1% vs local median 3.3% in Tulare — 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 58/100 on livability (#701 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: commute C-, employment D+, schools D-.
• Tulare Joint Union High (suburban): math 18% / reading 52% proficiency, ranked #280 of 517 in CA (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.7%/yr); 352 active listings in the ZIP; 1,447 units permitted in Tulare County in 2024 (307 in 5+ unit buildings).
• This rent runs 34% 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 $4k 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.
• At projected returns (-3.0% appreciation + 2.7% rent growth), your $42k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 234 days — a 12% lower offer ($131k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $131,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 234 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
8. 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.
9. 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: 1.39% ✓
• Cap rate: 11.14%
• Cash-on-cash: 17.32%
• DSCR: 1.77
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $106,744
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
900 E Rankin Rd #42	0.05mi	3/2.0	1,056 (-13%)	2mo	$68,000	$64	74
900 E Rankin Rd #98	0.05mi	3/2.0	1,248 (+3%)	23mo	$110,000	$88	74
900 E Rankin Rd #133	0.11mi	3/2.0	1,144 (-6%)	24mo	$82,000	$72	66
900 E Rankin Rd #49	0.05mi	3/2.0	1,035 (-15%)	19mo	$105,000	$101	58

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 · 2.67% rent growth · sell at horizon

5-year hold

• IRR: 3.5%
• Equity multiple: 1.14×
• Total profit: $5,663
• Equity at exit: $22,216

10-year hold

• IRR: 12.8%
• Equity multiple: 2.00×
• Total profit: $41,707
• Equity at exit: $12,883

Cash invested: $41,720 (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 93274

• Rents YoY: 2.7%
• Active inventory: 352
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $2,066 medium
• Mortgage (P&I): −$781
• Tax est. 1.5%: −$186 /mo · $2,235/yr
• Insurance: −$62
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$434
• Net cashflow: $477

Break-even live

Break-even rent $1,462

Max offer price $149,000

Occupancy floor 72%

Sensitivity live

Price	-10% $580	-5% $529	+0% $477	+5% $426	+10% $374
Rent	-10% $314	-5% $395	+0% $477	+5% $559	+10% $640
Rate	-1.0pp $552	-0.5pp $515	base $477	+0.5pp $438	+1.0pp $399

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $149,000 Active 234 DOM
2. 2026-06-17
   days on market $149,000 Active 233 DOM
3. 2026-06-16
   days on market $149,000 Active 232 DOM
4. 2026-06-15
   days on market $149,000 Active 231 DOM
5. 2026-06-14
   days on market $149,000 Active 229 DOM
6. 2026-06-13
   days on market $149,000 Active 228 DOM
7. 2026-06-10
   days on market $149,000 Active 226 DOM
8. 2026-06-09
   days on market $149,000 Active 225 DOM
9. 2026-06-08
   days on market $149,000 Active 224 DOM
10. 2026-06-07
    days on market $149,000 Active 223 DOM
11. 2026-06-05
    days on market $149,000 Active 220 DOM
12. 2026-06-03
    days on market $149,000 Active 219 DOM
13. 2026-06-02
    days on market $149,000 Active 218 DOM
14. 2026-06-01
    days on market $149,000 Active 217 DOM
15. 2026-05-31
    days on market $149,000 Active 216 DOM
16. 2026-05-30
    days on market $149,000 Active 215 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone A · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 33 unhealthy d/yr today · 38 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,789
• − Mortgage interest: −$8,346
• − Property taxes: −$2,235
• − Insurance: −$2,248
• − Repairs & maintenance: −$1,983
• − Management: −$1,983
• − Depreciation: −$4,335
• Taxable income: $3,660
• Est. tax owed @ 24.0%: −$878
• After-tax cash flow: $4,846/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: Tulare Joint Union High
• NCES district ID: 0639930
• Math proficiency: 18% ▼ -6.00%
• Reading proficiency: 52% ▼ -1.00%
• Median HH income: $46,858
• Composite: 29.91/100
• National rank: #6384
• State rank: #280 of 517 in CA

Livability — Tulare

• Score: 58/100
• State rank: #701
• US rank: #21185

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tulare, CA
• County: Tulare County · 323,826 people
• City population: 80,026
• Metro: Visalia, CA
• Population (ZIP): 80,026
• Household income: $72,650
• Rent vs Own: 42.9% rent · 57.1% own
• Severe rent burden: 2393.0

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: Majority Hispanic (64%)
• Race & ethnicity: Hispanic / Latino 64% White 29% Two or more races 24% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 60%
• Common ancestry: Russian 7% Iranian 1% Italian 1%
• Foreign-born: 19% · Canada, Vietnam
• Languages at home: 52% English-only · Spanish 42% Other Indo-European 3% Other Asian/Pacific 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: ▼ -402.03%
• Current HPI: 316.0806
• Rent YoY: ▲ 2.67%
• 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