1402 N Morrison Ave · August, CA 95205

$305,000

3 bd · 1.0 ba · 1,110 sqft · SingleFamily public records · 65 Days on market

Built 1977 6,303 sqft lot $275/sqft · 15% below area Est $359k · 15% under ↓ 32% since listing

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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).

• ARV discount +14.3/15.0
• Cash flow +12.6/30.0
• DSCR +3.8/10.0
• Schools +2.9/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

RV storage on side of home. Has its own gate and entrance. This 3/1, 1110 SF home is ready for its new owner. There is a tenant that pays $1650/month rent. VPF in kitchen, dining room and hall way. Good opportunity for investor or home owner. 1412 N Morrison Ave (3bed/2bath) is next door to this home and also for sale by the same owner. You could buy both!

Key facts

• Rv storage
• Own entrance
• Own gate

Tags

• RV STORAGE
• OWN GATE
• OWN ENTRANCE

Property features AI

Exterior

• Parking: Attached garage; 2 garage spaces (covered); RV/boat parking and access; Parking lot on site; Garage faces front; RV possible
• Utilities: Public water; Public sewer; 220V electrical in kitchen
• Home design: Single family residence; Residential property; Built in 1977
• Construction: Stucco construction; Shingle roof; Built in 1977
• Exterior features: Front yard; Back yard; Landscaped; Fenced; Corner lot; Rectangular lot

Interior

• Kitchen: Built-in range/oven; Laminate countertops; 220V outlet in kitchen
• Bedrooms: 3 bedrooms (street level)
• Flooring: Laminate flooring; Tile flooring; Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall furnace heating; Ceiling fan(s); Wall/window air conditioning units
• Interior features: No additional finished rooms; Double-pane windows; No steps to entry (street level, main entry)
• Laundry & utility: Washer hookup in garage (hookups only); Gas dryer hookup; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $305k.

Deal economics

• At list price, monthly cash flow is $-37 ($-450/yr) — negative.
• To cash-flow at today's rent, offer at most $298k (2.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $227k (25.5% below list).
• Recommended offer: $227k (25.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 51/100 on livability (#1,074 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A-; Watch: cost of living D, crime F, amenities F.
• Stockton Unified (urban): math 23% / reading 46% proficiency, ranked #295 of 517 in CA (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: King Elementary (987 students, 84% FRL); Cesar Chavez High (math 26% / reading 41%, grade F, #656 of 1,170 statewide, top 57%, 2,257 students, 68% FRL) — zoned schools at 76% FRL track the district average.
• Market conditions: 87 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 3,779 units permitted in San Joaquin County in 2024 (0 in 5+ unit buildings).
• At $2,272/mo this rent would consume 45% of the median local household income ($60k/yr) (locally 1712% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• San Joaquin County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($287k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $227,203 (25.5% 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 65 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.74% ✗
• Cap rate: 6.15%
• Cash-on-cash: -0.53%
• DSCR: 0.98
• GRM: 11.2

CMA / ARV

• ARV (median comp): $358,935
• List price: $305,000
• Delta: -15.03%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1446 Rhode Island Ave	0.22mi	3/1.0	1,135 (+2%)	2mo	$330,000	$291	84
2731 E Anita St	0.35mi	3/1.5	1,078 (-3%)	1mo	$340,000	$315	76
1621 E Regal St	0.47mi	3/1.0	1,065 (-4%)	2mo	$339,000	$318	70
2327 E Acacia St	0.34mi	2/1.0 (-1)	1,055 (-5%)	5mo	$330,000	$313	66
2421 Hackberry	0.22mi	3/2.0	1,260 (+14%)	4mo	$410,000	$325	60
447 N Shasta Ave	0.75mi	2/1.0 (-1)	1,080 (-3%)	2mo	$420,000	$389	54
1845 E Poplar St	0.70mi	2/1.5 (-1)	1,133 (+2%)	6mo	$275,000	$243	52
1000 Beatrice Ave	0.67mi	2/1.0 (-1)	1,020 (-8%)	0mo	$233,000	$228	50
1949 Sunset Ave	0.44mi	2/1.0 (-1)	959 (-14%)	3mo	$311,500	$325	49
1257 Sunnyside Ave	0.58mi	3/1.0	960 (-14%)	4mo	$349,000	$364	47
1620 E Harding Way	0.72mi	3/1.0	1,242 (+12%)	2mo	$359,000	$289	45
1600 Sunnyside Ave	0.58mi	3/2.0	956 (-14%)	3mo	$330,000	$345	43

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -17.2%
• Equity multiple: 0.39×
• Total profit: $-51,944
• Equity at exit: $45,476

10-year hold

• IRR: -9.3%
• Equity multiple: 0.43×
• Total profit: $-48,853
• Equity at exit: $26,371

Cash invested: $85,400 (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 95205

• Active inventory: 87
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $2,272 medium
• Mortgage (P&I): −$1,599
• Tax from tax record: −$106 /mo · $1,270/yr
• Insurance: −$127
• HOA: −$0
• Vacancy / Maint / Mgmt: −$477
• Net cashflow: $-37

Break-even live

Break-even rent $2,319

Max offer price $298,382

Occupancy floor 97%

Sensitivity live

Price	-10% $135	-5% $49	+0% $-37	+5% $-124	+10% $-210
Rent	-10% $-217	-5% $-127	+0% $-37	+5% $52	+10% $142
Rate	-1.0pp $116	-0.5pp $40	base $-37	+0.5pp $-116	+1.0pp $-197

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: $76,250
• Closing costs: $9,150
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1526 N Sierra Nevada St Stockton, CA	3.0	2.0	1024	$2,600	$2.54	25d	1	0.88mi
3232 Sanguinetti Ln Unit B Stockton, CA	2.0	2.0	1378	$2,200	$1.60	25d	1	1.06mi
3232 Sanguinetti Ln Unit A Stockton, CA	3.0	3.0	1378	$2,200	$1.60	25d	1	1.06mi
2271 E Church St Stockton, CA	3.0	1.5	1285	$2,245	$1.75	25d	1	1.42mi

Listing history 17 events

1. 2026-06-21
   days on market $305,000 Active 65 DOM
2. 2026-06-18
   days on market $305,000 Active 62 DOM
3. 2026-06-17
   days on market $305,000 Active 61 DOM
4. 2026-06-16
   days on market $305,000 Active 60 DOM
5. 2026-06-15
   days on market $305,000 Active 59 DOM
6. 2026-06-14
   days on market $305,000 Active 57 DOM
7. 2026-06-10
   days on market $305,000 Active 54 DOM
8. 2026-06-09
   days on market $305,000 Active 53 DOM
9. 2026-06-08
   days on market $305,000 Active 52 DOM
10. 2026-06-07
    days on market $305,000 Active 51 DOM
11. 2026-06-05
    days on market $305,000 Active 48 DOM
12. 2026-06-03
    days on market $305,000 Active 47 DOM
13. 2026-06-03
    days on market $305,000 Active 46 DOM
14. 2026-06-01
    days on market $305,000 Active 45 DOM
15. 2026-05-31
    days on market $305,000 Active 44 DOM
16. 2026-04-17
    listed $305,000 Active 365-char remark
17. 2023-05-26
    soldstatus $450,000

ⓘ 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: $1,270 · $106/mo
• Projected year-2 tax: $2,318 · $193/mo
• Expected delta: +$1,048/yr (+$87/mo · 82.5%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X · 24% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 30 unhealthy d/yr today · 30 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,264
• − Mortgage interest: −$17,085
• − Property taxes: −$1,270
• − Insurance: −$1,525
• − Repairs & maintenance: −$2,181
• − Management: −$2,181
• − Depreciation: −$8,873
• Taxable loss: −$5,850
• Est. tax savings @ 24.0%: +$1,404
• After-tax cash flow: $955/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: Stockton Unified
• NCES district ID: 0638010
• Math proficiency: 23% ▲ 2.00%
• Reading proficiency: 46% ▲ 16.00%
• Median HH income: $37,563
• Composite: 28.65/100
• National rank: #6701
• State rank: #295 of 517 in CA

Livability — August

• Score: 51/100
• State rank: #1074
• US rank: #25301

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: August, CA
• County: San Joaquin County · 729,570 people
• City population: 332,006
• Metro: Stockton, CA
• Population (ZIP): 39,608
• Household income: $60,325
• Rent vs Own: 50.4% rent · 49.6% own
• Severe rent burden: 1712.0

Population outlook (San Joaquin County) Hauer SSP2

• Today (2025): 796,965 people
• By 2030: 828,849 · +4.0%
• By 2040: 885,611 · +11.1%
• By 2050: 929,798 · +16.7%
• By 2075: 994,578 · +24.8%
• By 2100: 971,291 · +21.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (77%)
• Race & ethnicity: Hispanic / Latino 77% Two or more races 21% White 9% Asian 6% Black 6% Native American 2%
• Hispanic origin (detail): Mexican 72%
• Foreign-born: 33% · Canada
• Languages at home: 36% English-only · Spanish 58% Tagalog/Filipino 2% Other Indo-European 2%

Political lean MEDSL · San Joaquin

• 2024 margin: Toss-up / Even · D 48.0% · R 48.9% · Other 3.0%
• 2008→2024 swing: -11.6pp toward R · 2008: 10.7pp · 2024: -0.9pp
• All cycles: 2024: R+0.9 2020: D+13.9 2016: D+12.9 2012: D+8.9 2008: D+10.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -298.45%
• Current HPI: 502.8934
• Rent YoY: —
• Metro: Stockton, 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

-32.2% since first listed

2 events — show timeline

• 2026-04-17 Listed $305,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2023-05-26 Sold (Public Records) $450,000 Public Records

Property tax history

+3.0%/yr

Latest (2025): $1,270 · +35.4% YoY. Source: county tax records.