1915 E Houston Ave · Visalia, CA 93292

$169,900

None bd · 1.0 ba · 1,152 sqft · SingleFamily public records · 729 Days on market

Built 1900 0.26 ac lot $147/sqft · 54% below area

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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 +21.9/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +5.7/10.0
• 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

One building on this lot. Zoned High Density Multi Family. It is unlikely the city will grant a commercial use here but you can ask them. There is water service and electricity to the property not currently connected.

Key facts

• Vacant down to studs
• Two buildings on lot
• 0.26 acre lot

Tags

• TWO BUILDINGS ON LOT
• VACANT DOWN TO STUDS

What this means for you Summary

Snapshot

• This is a ?-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $-158 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $147k (13.4% below list).
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $147k (13.4% below list) — sets the bar for cash-flow.
• Cap rate 8.2% 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.
• Market conditions: Rents rising (+2.0%/yr); 309 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 46% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $5k 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

• It's been on market 729 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $147,062 (13.4% 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 729 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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?
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: 1.07% ✓
• Cap rate: 8.19%
• Cash-on-cash: 6.78%
• DSCR: 1.30
• GRM: 7.8

CMA / ARV

• ARV (median comp): $372,381
• List price: $169,900
• Delta: -54.37%
• Verdict: UNDERPRICED
• Comps: 6 within 2.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2005 E Roosevelt Ct	0.17mi	3/2.0	1,171 (+2%)	0mo	$337,000	$288	85
1029 N Gowdy St	0.31mi	3/2.0	1,120 (-3%)	5mo	$299,000	$267	72
2238 N Gowdy St	0.61mi	3/2.0	1,148 (-0%)	1mo	$310,000	$270	66
1301 N Enos St	0.30mi	3/2.0	1,015 (-12%)	3mo	$305,000	$300	60
1441 E Sunnyview Ave	0.68mi	3/2.0	1,148 (-0%)	6mo	$215,000	$187	59
1107 N Enos St	0.33mi	3/2.0	1,008 (-12%)	7mo	$304,000	$302	54
1835 E Babcock Ave	0.51mi	2/1.8	1,051 (-9%)	6mo	$270,000	$257	53
123 Omalley St Unit Mw123	0.52mi	3/2.0	1,298 (+13%)	3mo	$387,700	$299	48
1315 E Vine Ct	0.48mi	3/2.0	1,295 (+12%)	6mo	$359,000	$277	48
1908 N Cedar Ct	0.59mi	4/2.0	1,299 (+13%)	2mo	$305,000	$235	46
233 N O'malley St Unit Mw131	0.61mi	3/2.0	1,298 (+13%)	7mo	$403,943	$311	40
323 Omalley St Unit Mw136	0.61mi	3/2.0	1,298 (+13%)	8mo	$389,900	$300	39

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 · 1.99% rent growth · sell at horizon

5-year hold

• IRR: -24.4%
• Equity multiple: 0.18×
• Total profit: $-39,131
• Equity at exit: $25,333

10-year hold

• IRR: -23.7%
• Equity multiple: -0.12×
• Total profit: $-53,230
• Equity at exit: $14,690

Cash invested: $47,572 (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: 309
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,826 high
• Mortgage (P&I): −$891
• Tax est. 1.5%: −$212 /mo · $2,548/yr
• Insurance: −$71
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $-158

Break-even live

Break-even rent $2,026

Max offer price $147,062

Occupancy floor —

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2008 E Douglas Ave Visalia, CA	3.0	2.0	1171	$1,900	$1.62	43d	1	0.25mi
1630 E Knight Ct Visalia, CA	3.0	2.0	1419	$1,895	$1.34	43d	1	0.58mi
803 E Prospect Ave Visalia, CA	2.0	1.0	960	$1,495	$1.56	21d	1	0.73mi
907 E Oakridge Ave Visalia, CA	2.0	2.0	1009	$1,695	$1.68	21d	1	0.94mi
3510 E Roosevelt Ave Visalia, CA	3.0	2.0	1376	$1,800	$1.31	43d	1	1.01mi
723 N Simon St Visalia, CA	3.0	2.0	1450	$2,100	$1.45	13d	1	1.01mi
3822 E Four Creeks Ct Visalia, CA	3.0	2.0	1425	$1,895	$1.33	43d	1	1.20mi
711 E Noble Ave Unit 82504 Visalia, CA	2.0	1.0	792	$1,350	$1.70	43d	1	1.31mi
711 E Noble Ave Unit 711C5 Visalia, CA	2.0	1.0	900	$1,350	$1.50	21d	1	1.31mi
528 N Encina St Unit 530A Visalia, CA	3.0	1.0	1125	$1,795	$1.60	21d	1	1.34mi
2521 E Westcott Ave Visalia, CA	2.0	1.0	1050	$1,650	$1.57	43d	1	1.43mi
1113 S Pinkham St Visalia, CA	2.0	2.5	1450	$1,695	$1.17	21d	1	1.45mi
432 S Bridge St Visalia, CA	3.0	2.0	1200	$1,895	$1.58	13d	1	1.46mi

Listing history 21 events

1. 2026-06-18
   days on market $169,900 Active 729 DOM
2. 2026-06-17
   days on market $169,900 Active 728 DOM
3. 2026-06-16
   days on market $169,900 Active 727 DOM
4. 2026-06-15
   days on market $169,900 Active 726 DOM
5. 2026-06-14
   days on market $169,900 Active 724 DOM
6. 2026-06-13
   days on market $169,900 Active 723 DOM
7. 2026-06-10
   days on market $169,900 Active 721 DOM
8. 2026-06-09
   days on market $169,900 Active 720 DOM
9. 2026-06-08
   days on market $169,900 Active 719 DOM
10. 2026-06-07
    days on market $169,900 Active 718 DOM
11. 2026-06-05
    days on market $169,900 Active 715 DOM
12. 2026-06-03
    days on market $169,900 Active 714 DOM
13. 2026-06-02
    days on market $169,900 Active 713 DOM
14. 2026-06-01
    days on market $169,900 Active 712 DOM
15. 2026-05-31
    days on market $169,900 Active 711 DOM
16. 2026-05-30
    days on market $169,900 Active 710 DOM
17. 2025-12-18
    price $169,900 217-char remark

    Show marketing remark (217 chars)

    One building on this lot. Zoned High Density Multi Family. It is unlikely the city will grant a commercial use here but you can ask them. There is water service and electricity to the property not currently connected.

18. 2024-06-19
    listed $189,000 Active 217-char remark

    Show marketing remark (217 chars)

    One building on this lot. Zoned High Density Multi Family. It is unlikely the city will grant a commercial use here but you can ask them. There is water service and electricity to the property not currently connected.

19. 2021-04-23
    soldstatus $255,000
20. 2012-05-18
    soldstatus $65,000
21. 2012-04-16
    soldstatus $50,000

ⓘ 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 5/10 Major FEMA zone AE · 67% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 40 unhealthy d/yr today · 43 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,917
• − Mortgage interest: −$9,517
• − Property taxes: −$2,548
• − Insurance: −$5,968
• − Repairs & maintenance: −$1,753
• − Management: −$1,753
• − Depreciation: −$4,943
• Taxable loss: −$4,566
• Est. tax savings @ 24.0%: +$1,096
• After-tax cash flow: $-798/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

• Census place: Visalia, CA
• 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

+239.8% since first listed

5 events — show timeline

• 2025-12-18 Price Changed $169,900 TCMLS
• 2024-06-19 Listed $189,000 TCMLS
• 2021-04-23 Sold (Public Records) $255,000 Public Records
• 2012-05-18 Sold (Public Records) $65,000 Public Records
• 2012-04-16 Sold (Public Records) $50,000 Public Records

Property tax history

-42.2%/yr

Latest (2021): $12 · -94.9% YoY. Source: county tax records.