2459 N Oaks St #134 · Tulare, CA 93274

$149,900

2 bd · 2.0 ba · 1,536 sqft · Land · 71 Days on market

Built 1988

---

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
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• ARV discount +7.5/15.0
• Rent growth +3.2/5.0
• Schools +3.0/10.0
• Livability +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move in ready in Gated Oaks Estate mobile home park in Tulare 55+ park with clubhouse Pool and spa . updated in sept 22 new 30yr roof, pain inside and out carpet in bdrms. some electrical updates as well as new vinyl fence one of the most desirable manufactured home in the park. This manufactured Home welcomes you in with a beautiful large living room with lots of window and natural light to enjoy visiting with great views of the pool and full views out front to see your neighbors out for a walk or riding their bikes . large dining area with beautiful hutch. the kitchen is big with lots of cabinets and bar area sits just off the family room master bedroom offers lots of closet space and an amazing large bathroom 2bdrms 2bath and great laundry room a must see is ready for you to make memories if on patio sipping your favorite drink enjoy mountain views

Key facts

• Guest room
• Second living room
• 30yr roof

Tags

• KITCHEN CENTRALLY LOCATED
• PRIMARY SUITE
• GUEST ROOM
• SECOND LIVING ROOM
• 30YR ROOF
• FRESH PAINT

Property features AI

Finance

• Other: Private pool

Exterior

• Parking: Attached carport (1 space); Driveway
• Utilities: Public water; Public sewer; Natural gas available and connected; Electricity connected; Cable connected; Water connected; Sewer connected
• Home design: Manufactured home (double wide) located in a park; Faces west; No shared/common walls
• Construction: Vertical and wood siding; Composition roof; Concrete perimeter foundation; Manufactured model: Hallmark Southwest; Wood skirting; Mobile dimensions approximately 24' x 64'
• Exterior features: Awnings; Exterior storage; Covered patio and porch

Interior

• Flooring: Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Vaulted ceilings; Wood flooring
• Laundry & utility: Indoor laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath land listed at $150k.

Deal economics

• At list price, monthly cash flow is $599 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $141k (6.0% 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; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 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 ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire 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 $140,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.38% ✓
• Cap rate: 11.09%
• Cash-on-cash: 17.12%
• DSCR: 1.76
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.67% rent growth · sell at horizon

5-year hold

• IRR: 8.0%
• Equity multiple: 1.31×
• Total profit: $13,190
• Equity at exit: $22,351

10-year hold

• IRR: 17.0%
• Equity multiple: 2.38×
• Total profit: $57,924
• Equity at exit: $12,961

Cash invested: $41,972 (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: $2,069 medium
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$435
• Net cashflow: $599

Break-even live

Break-even rent $1,311

Max offer price $149,900

Occupancy floor 66%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1989 N Oaks St Tulare, CA	3.0	2.5	1590	$2,195	$1.38	13d	1	0.43mi
1927 N Oaks St Tulare, CA	3.0	2.5	1590	$2,050	$1.29	13d	1	0.46mi
1919 N Oaks St Tulare, CA	3.0	3.0	1380	$2,325	$1.68	13d	1	0.47mi
1170 N Petaluma St Tulare, CA	3.0	2.0	1547	$2,200	$1.42	21d	1	1.21mi

Listing history 8 events

1. 2026-05-09
   status Pending
2. 2026-02-27
   listed $149,900 Active
3. 2024-04-29
   soldstatus $154,500 Closed 882-char remark

   Show marketing remark (882 chars)

   Move in ready in Gated Oaks Estate mobile home park in Tulare 55+ park with clubhouse Pool and spa . updated in sept 22 new 30yr roof, pain inside and out carpet in bdrms. some electrical updates as well as new vinyl fence one of the most desirable manufactured home in the park. This manufactured Home welcomes you in with a beautiful large living room with lots of window and natural light to enjoy visiting with great views of the pool and full views out front to see your neighbors out for a walk or riding their bikes . large dining area with beautiful hutch. the kitchen is big with lots of cabinets and bar area sits just off the family room master bedroom offers lots of closet space and an amazing large bathroom 2bdrms 2bath and great laundry room a must see is ready for you to make memories if on patio sipping your favorite drink enjoy mountain views

4. 2024-03-27
   status Pending 882-char remark

   Show marketing remark (882 chars)

   Move in ready in Gated Oaks Estate mobile home park in Tulare 55+ park with clubhouse Pool and spa . updated in sept 22 new 30yr roof, pain inside and out carpet in bdrms. some electrical updates as well as new vinyl fence one of the most desirable manufactured home in the park. This manufactured Home welcomes you in with a beautiful large living room with lots of window and natural light to enjoy visiting with great views of the pool and full views out front to see your neighbors out for a walk or riding their bikes . large dining area with beautiful hutch. the kitchen is big with lots of cabinets and bar area sits just off the family room master bedroom offers lots of closet space and an amazing large bathroom 2bdrms 2bath and great laundry room a must see is ready for you to make memories if on patio sipping your favorite drink enjoy mountain views

5. 2024-03-15
   price $164,000 882-char remark

   Show marketing remark (882 chars)

   Move in ready in Gated Oaks Estate mobile home park in Tulare 55+ park with clubhouse Pool and spa . updated in sept 22 new 30yr roof, pain inside and out carpet in bdrms. some electrical updates as well as new vinyl fence one of the most desirable manufactured home in the park. This manufactured Home welcomes you in with a beautiful large living room with lots of window and natural light to enjoy visiting with great views of the pool and full views out front to see your neighbors out for a walk or riding their bikes . large dining area with beautiful hutch. the kitchen is big with lots of cabinets and bar area sits just off the family room master bedroom offers lots of closet space and an amazing large bathroom 2bdrms 2bath and great laundry room a must see is ready for you to make memories if on patio sipping your favorite drink enjoy mountain views

6. 2024-02-26
   price $165,000 882-char remark

   Show marketing remark (882 chars)

   Move in ready in Gated Oaks Estate mobile home park in Tulare 55+ park with clubhouse Pool and spa . updated in sept 22 new 30yr roof, pain inside and out carpet in bdrms. some electrical updates as well as new vinyl fence one of the most desirable manufactured home in the park. This manufactured Home welcomes you in with a beautiful large living room with lots of window and natural light to enjoy visiting with great views of the pool and full views out front to see your neighbors out for a walk or riding their bikes . large dining area with beautiful hutch. the kitchen is big with lots of cabinets and bar area sits just off the family room master bedroom offers lots of closet space and an amazing large bathroom 2bdrms 2bath and great laundry room a must see is ready for you to make memories if on patio sipping your favorite drink enjoy mountain views

7. 2024-02-21
   listed $170,000 Active 882-char remark

   Show marketing remark (882 chars)

   Move in ready in Gated Oaks Estate mobile home park in Tulare 55+ park with clubhouse Pool and spa . updated in sept 22 new 30yr roof, pain inside and out carpet in bdrms. some electrical updates as well as new vinyl fence one of the most desirable manufactured home in the park. This manufactured Home welcomes you in with a beautiful large living room with lots of window and natural light to enjoy visiting with great views of the pool and full views out front to see your neighbors out for a walk or riding their bikes . large dining area with beautiful hutch. the kitchen is big with lots of cabinets and bar area sits just off the family room master bedroom offers lots of closet space and an amazing large bathroom 2bdrms 2bath and great laundry room a must see is ready for you to make memories if on patio sipping your favorite drink enjoy mountain views

8. 2020-06-16
   soldstatus $67,000 280-char remark

   Show marketing remark (280 chars)

   Great opportunity to live in Tulare's most desirable adult park. This charming mobile home offers 2 bedrooms 2 baths, dining area, indoor laundry room. Inside was recently painted. A new stove, hood and dishwasher recently installed. Seller will put in new carpet with full price.

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 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 33 unhealthy d/yr today · 38 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,830
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$750
• − Repairs & maintenance: −$1,986
• − Management: −$1,986
• − Depreciation: −$4,361
• Taxable income: $5,102
• Est. tax owed @ 24.0%: −$1,224
• After-tax cash flow: $5,960/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

Price history

+123.7% since first listed

8 events — show timeline

• 2026-05-09 Pending — TCMLS
• 2026-02-27 Listed $149,900 TCMLS
• 2024-04-29 Sold (MLS) $154,500 TCMLS
• 2024-03-27 Pending — TCMLS
• 2024-03-15 Price Changed $164,000 TCMLS
• 2024-02-26 Price Changed $165,000 TCMLS
• 2024-02-21 Listed $170,000 TCMLS
• 2020-06-16 Sold (MLS) $67,000 TCMLS

Property tax history

-5.4%/yr

Latest (2021): $272 · -23.8% YoY. Source: county tax records.