2627 W Midvalley Ave #10

Visalia, CA 93277

$75,000B+

2 bd · 2.0 ba · 1,441 sqft · Built 1973 · Manufactured · Active · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,969/mo
• Mortgage (P&I): −$393
• Tax + insurance: −$125
• HOA: −$0
• Vac / Maint / Mgmt: −$414
• Net cashflow: $1,037/mo
• Annual: $12,447/yr
• Cap rate: 22.89%
• Cash-on-cash: 59.27%
• DSCR: 3.64
• 1% rule: 2.63%
• Cash to close: $21,000

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $75k.
• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• 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.
• 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 (+3.3%/yr); 233 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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).
• Tulare County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 7 sale attempts since 11y ago 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.
• At projected returns (-3.0% appreciation + 3.3% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: 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.
• Cap rate 22.9% 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.

Questions for listing agent

• Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.