5327 N Millbrook Ave · Fresno, CA 93710

$750,000

14 bd · 3.0 ba · 11,500 sqft · MultiFamily · 8 Days on market

Good condition 0.84 ac lot $65/sqft · 54% below area

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Why this score? — see what drove the B 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +3.8/5.0
• Condition / age +3.8/5.0
• Livability +3.1/5.0
• Schools +2.7/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

The Alpha Xi Delta Sorority House is now on the market. There are 13 separate bedrooms plus a dedicated apartment for the site manager. (See the floorplan in the attached documents). Excellent location on the Sorority/Fraternity Mall right by Bulldog Stadium and California State University, Fresno. Item 3 of the CC&R's state that the residential structure shall be predominately occupied by students, faculty or staff associated with California State University, Fresno (see the CC&R's in the attached documents).The ground floor has a large Chapter room, TV/Game room, commercial style kitchen, dining area, Site manager quarters, Cook's office/bedroom and a guest bathroom.Upstairs are 13 separate rooms and some are large enough to possibly split. There is a large dorm style bathroom with multiple showers, commodes and sinks. There is also a laundry room upstairs.Large gated parking lot is part of the property.

Key facts

• Laundry room
• Dedicated apartment
• Dining area

Tags

• DEDICATED APARTMENT
• COMMERCIAL STYLE KITCHEN
• DINING AREA
• GUEST BATHROOM
• LAUNDRY ROOM
• LARGE GATED PARKING LOT

What this means for you Summary

Snapshot

• This is a 14-bed/3.0-bath multifamily listed at $750k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $18k ($221k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($30k rent vs $750k).
• Cap rate 35.8% vs local median 3.7% in Fresno — 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 62/100 on livability (#469 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+; Watch: amenities D+, employment D+, schools D.
• Fresno Unified (urban): math 18% / reading 47% proficiency, ranked #327 of 517 in CA (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 77% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.0%/yr); 59 active listings in the ZIP; 2,426 units permitted in Fresno County in 2024 (296 in 5+ unit buildings).
• At $29,869/mo this rent would consume 544% of the median local household income ($66k/yr) (locally 1910% 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 $5k of loan paydown is wiped out by about $22k of value loss. Plan a longer hold.
• Fresno County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 5.0% rent growth), your $210k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $750,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 3.98% ✓
• Cap rate: 35.75%
• Cash-on-cash: 105.22%
• DSCR: 5.68
• GRM: 2.1

CMA / ARV

• ARV (median comp): $1,637,339
• List price: $750,000
• Delta: -54.19%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.01% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.30×
• Total profit: $1,113,295
• Equity at exit: $111,827

10-year hold

• IRR: —
• Equity multiple: 14.07×
• Total profit: $2,744,837
• Equity at exit: $64,846

Cash invested: $210,000 (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 93710

• Rents YoY: 5.0%
• Active inventory: 59
• Price-to-rent: 28.4×

Monthly cashflow live

• Estimated rent: $29,869 medium
• Mortgage (P&I): −$3,933
• Tax est. 1.5%: −$938 /mo · $11,250/yr
• Insurance: −$312
• HOA: −$0
• Vacancy / Maint / Mgmt: −$6,272
• Net cashflow: $18,413

Break-even live

Break-even rent $6,561

Max offer price $750,000

Occupancy floor 33%

Sensitivity live

Price	-10% $18,932	-5% $18,673	+0% $18,413	+5% $18,154	+10% $17,895
Rent	-10% $16,054	-5% $17,234	+0% $18,413	+5% $19,593	+10% $20,773
Rate	-1.0pp $18,791	-0.5pp $18,604	base $18,413	+0.5pp $18,219	+1.0pp $18,021

14-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 13× units	13	1	$28,613
1× unit	1	1	$1,250
Total (14 units)			$29,869

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: $187,500
• Closing costs: $22,500
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-19
   status Pending 927-char remark

   Show marketing remark (927 chars)

   The Alpha Xi Delta Sorority House is now on the market. There are 13 separate bedrooms plus a dedicated apartment for the site manager. (See the floorplan in the attached documents). Excellent location on the Sorority/Fraternity Mall right by Bulldog Stadium and California State University, Fresno. Item 3 of the CC&R's state that the residential structure shall be predominately occupied by students, faculty or staff associated with California State University, Fresno (see the CC&R's in the attached documents).The ground floor has a large Chapter room, TV/Game room, commercial style kitchen, dining area, Site manager quarters, Cook's office/bedroom and a guest bathroom.Upstairs are 13 separate rooms and some are large enough to possibly split. There is a large dorm style bathroom with multiple showers, commodes and sinks. There is also a laundry room upstairs.Large gated parking lot is part of the property.

2. 2026-05-10
   listed $750,000 Active 927-char remark

   Show marketing remark (927 chars)

   The Alpha Xi Delta Sorority House is now on the market. There are 13 separate bedrooms plus a dedicated apartment for the site manager. (See the floorplan in the attached documents). Excellent location on the Sorority/Fraternity Mall right by Bulldog Stadium and California State University, Fresno. Item 3 of the CC&R's state that the residential structure shall be predominately occupied by students, faculty or staff associated with California State University, Fresno (see the CC&R's in the attached documents).The ground floor has a large Chapter room, TV/Game room, commercial style kitchen, dining area, Site manager quarters, Cook's office/bedroom and a guest bathroom.Upstairs are 13 separate rooms and some are large enough to possibly split. There is a large dorm style bathroom with multiple showers, commodes and sinks. There is also a laundry room upstairs.Large gated parking lot is part of the property.

ⓘ 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 X (shaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 48 unhealthy d/yr today · 50 by 30 yrs out

Taxation est. · year 1

• Rental income: $358,428
• − Mortgage interest: −$42,012
• − Property taxes: −$11,250
• − Insurance: −$3,750
• − Repairs & maintenance: −$28,674
• − Management: −$28,674
• − Depreciation: −$21,818
• Taxable income: $222,250
• Est. tax owed @ 24.0%: −$53,340
• After-tax cash flow: $167,621/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.

Condition & rehab AI · 5 photos

Good 75/100 Cosmetic rehab

This multi-family property is in good condition with no visible repairs needed. It offers a good investment opportunity with potential for minor cosmetic improvements to enhance its resale and rental value.

Value-add opportunities

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics
• Both Landscaping improvements — Enhances curb appeal and adds value
• Rental HVAC system maintenance — Ensures comfort and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Rental HVAC system maintenance — Ensures comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Fresno Unified
• NCES district ID: 0614550
• Math proficiency: 18% ▼ -12.00%
• Reading proficiency: 47% ▲ 9.00%
• Median HH income: $36,095
• Composite: 26.83/100
• National rank: #7111
• State rank: #327 of 517 in CA

Livability — Fresno

• Score: 62/100
• State rank: #469
• US rank: #15907

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fresno, CA
• County: Fresno County · 834,801 people
• City population: 593,114
• Metro: Fresno, CA
• Population (ZIP): 31,669
• Household income: $65,851
• Rent vs Own: 57.8% rent · 42.2% own
• Severe rent burden: 1910.0

Population outlook (Fresno County) Hauer SSP2

• Today (2025): 1,042,971 people
• By 2030: 1,072,198 · +2.8%
• By 2040: 1,122,408 · +7.6%
• By 2050: 1,157,251 · +11.0%
• By 2075: 1,182,575 · +13.4%
• By 2100: 1,105,899 · +6.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 44% Hispanic / Latino 38% Two or more races 17% Asian 8% Black 5% Native American 1%
• Hispanic origin (detail): Mexican 34%
• Common ancestry: Russian 2% Lithuanian 1% Italian 1%
• Foreign-born: 13% · Canada, China, Vietnam
• Languages at home: 73% English-only · Spanish 18% Other Asian/Pacific 3% Other Indo-European 2%

Political lean MEDSL · Fresno

• 2024 margin: Toss-up / Even · D 46.5% · R 50.9% · Other 2.6%
• 2008→2024 swing: -6.5pp toward R · 2008: 2.1pp · 2024: -4.4pp
• All cycles: 2024: R+4.4 2020: D+7.8 2016: D+3.9 2012: R+2.9 2008: D+2.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -394.98%
• Current HPI: 409.5648
• Rent YoY: ▲ 5.01%
• Metro: Fresno, 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

2 events — show timeline

• 2026-05-19 Pending — FRESNOMLS
• 2026-05-10 Listed $750,000 FRESNOMLS