24 E School Ave #4 · Porterville, CA 93257

$559,900

28 bd · 16.0 ba · 2,500 sqft · MultiFamily · 184 Days on market

Built 1915 Good condition 10,454 sqft lot $224/sqft · 48% above area Est $379k · 48% over

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Why this score? — see what drove the F 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 +8.8/30.0
• Condition / age +3.8/5.0
• Rent growth +3.5/5.0
• Livability +3.0/5.0
• Schools +2.8/10.0
• 1% rule +2.7/10.0
• DSCR +2.4/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Looking for adding more units on your portfolio or thinking on staring one? Take a look at these Quadruplex, 3 units with 2 bedrooms 1 bathroom and1 unit with 1 bedroom 1 bathroom featuring new flooring and some more upgrades! Schedule your private showing TODAY!!!

Key facts

• 0.24 acre lot
• Built 1915
• Listed 184 days

What this means for you Summary

Snapshot

• This is a 3×2bd/1ba + 1×1bd/1ba units multifamily listed at $560k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-464 ($-6k/yr) — negative. Per door: $-116/mo.
• To cash-flow at today's rent, offer at most $493k (12.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $431k (23.0% below list).
• Recommended offer: $431k (23.0% below list) — sets the bar for 1% rule.
• Cap rate 5.3% vs local median 2.7% in Porterville — 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 60/100 on livability (#561 in CA) — a middle-class / working-renter tenant base. Strengths: housing A, commute A-; Watch: crime C-, cost of living D+, amenities F.
• Porterville Unified (urban): math 18% / reading 50% proficiency, ranked #302 of 517 in CA (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 84% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Roche Elementary (319 students, 92% FRL); Bartlett Middle (430 students, 94% FRL); Granite Hills High (math 19% / reading 48%, grade F, #656 of 1,170 statewide, top 57%, 1,242 students, 92% FRL).
• Market conditions: Rents rising fast (+4.1%/yr); 325 active listings in the ZIP; 1,447 units permitted in Tulare County in 2024 (307 in 5+ unit buildings).
• At $4,310/mo this rent would consume 87% of the median local household income ($60k/yr) (locally 3028% 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 $4k of loan paydown is wiped out by about $17k 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 184 days — a 12% lower offer ($493k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 4% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe 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 $431,000 (23.0% 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 184 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.77% ✗
• Cap rate: 5.30%
• Cash-on-cash: -3.56%
• DSCR: 0.84
• GRM: 10.8

CMA / ARV

• ARV (median comp): $379,014
• List price: $559,900
• Delta: 47.73%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.07% rent growth · sell at horizon

5-year hold

• IRR: -21.1%
• Equity multiple: 0.26×
• Total profit: $-115,554
• Equity at exit: $83,483

10-year hold

• IRR: -12.2%
• Equity multiple: 0.24×
• Total profit: $-118,781
• Equity at exit: $48,410

Cash invested: $156,772 (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 93257

• Rents YoY: 4.1%
• Active inventory: 325
• Price-to-rent: 42.7×

Monthly cashflow live

• Estimated rent: $4,310 high
• Mortgage (P&I): −$2,936
• Tax est. 1.5%: −$700 /mo · $8,398/yr
• Insurance: −$233
• HOA: −$0
• Vacancy / Maint / Mgmt: −$905
• Net cashflow: $-464

Break-even live

Break-even rent $4,898

Max offer price $492,694

Occupancy floor —

Sensitivity live

Price	-10% $-78	-5% $-271	+0% $-464	+5% $-658	+10% $-851
Rent	-10% $-805	-5% $-635	+0% $-464	+5% $-294	+10% $-124
Rate	-1.0pp $-182	-0.5pp $-322	base $-464	+0.5pp $-610	+1.0pp $-757

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$3,282
1× unit	1	1	$1,029
Total (4 units)			$4,310

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: $139,975
• Closing costs: $16,797
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $559,900 Active 184 DOM
2. 2026-06-18
   days on market $559,900 Active 181 DOM
3. 2026-06-17
   days on market $559,900 Active 180 DOM
4. 2026-06-16
   days on market $559,900 Active 179 DOM
5. 2026-06-15
   days on market $559,900 Active 178 DOM
6. 2026-06-14
   days on market $559,900 Active 176 DOM
7. 2026-06-13
   days on market $559,900 Active 175 DOM
8. 2026-06-10
   days on market $559,900 Active 173 DOM
9. 2026-06-09
   days on market $559,900 Active 172 DOM
10. 2026-06-08
    days on market $559,900 Active 171 DOM
11. 2026-06-07
    pricedays on market $559,900 Active 170 DOM
12. 2026-06-05
    days on market $537,700 Active 167 DOM
13. 2026-06-03
    days on market $537,700 Active 166 DOM
14. 2026-06-02
    days on market $537,700 Active 165 DOM
15. 2026-06-01
    days on market $537,700 Active 164 DOM
16. 2026-05-31
    days on market $537,700 Active 163 DOM
17. 2026-05-30
    days on market $537,700 Active 162 DOM
18. 2026-04-01
    price $537,700 268-char remark

    Show marketing remark (268 chars)

    Looking for adding more units on your portfolio or thinking on staring one? Take a look at these Quadruplex, 3 units with 2 bedrooms 1 bathroom and1 unit with 1 bedroom 1 bathroom featuring new flooring and some more upgrades! Schedule your private showing TODAY!!!

19. 2026-03-20
    status Active 268-char remark

    Show marketing remark (268 chars)

    Looking for adding more units on your portfolio or thinking on staring one? Take a look at these Quadruplex, 3 units with 2 bedrooms 1 bathroom and1 unit with 1 bedroom 1 bathroom featuring new flooring and some more upgrades! Schedule your private showing TODAY!!!

20. 2026-03-12
    historical 268-char remark

    Show marketing remark (268 chars)

    Looking for adding more units on your portfolio or thinking on staring one? Take a look at these Quadruplex, 3 units with 2 bedrooms 1 bathroom and1 unit with 1 bedroom 1 bathroom featuring new flooring and some more upgrades! Schedule your private showing TODAY!!!

21. 2025-12-11
    listed $539,900 Active 268-char remark

    Show marketing remark (268 chars)

    Looking for adding more units on your portfolio or thinking on staring one? Take a look at these Quadruplex, 3 units with 2 bedrooms 1 bathroom and1 unit with 1 bedroom 1 bathroom featuring new flooring and some more upgrades! Schedule your private showing TODAY!!!

ⓘ 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 8/10 Severe
• 🌡 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 38 unhealthy d/yr today · 42 by 30 yrs out

Taxation est. · year 1

• Rental income: $51,720
• − Mortgage interest: −$31,363
• − Property taxes: −$8,398
• − Insurance: −$2,800
• − Repairs & maintenance: −$4,138
• − Management: −$4,138
• − Depreciation: −$16,288
• Taxable loss: −$15,404
• Est. tax savings @ 24.0%: +$3,697
• After-tax cash flow: $-1,876/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 · 12 photos

Good 75/100 Cosmetic rehab

This quadruplex is in good condition with recent updates, making it a solid investment opportunity.

Value-add opportunities

• Both landscaping — enhances curb appeal and adds value
• Both paint exterior — improves curb appeal and adds value
• Both replace mailboxes — improves curb appeal and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — enhances curb appeal and adds value ↑
• Both paint exterior — improves curb appeal and adds value ↑
• Both replace mailboxes — improves curb appeal and adds value ↑

ⓘ 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: Porterville Unified
• NCES district ID: 0600064
• Math proficiency: 18% ▼ -10.00%
• Reading proficiency: 50% ▲ 6.00%
• Median HH income: $35,157
• Composite: 27.97/100
• National rank: #6855
• State rank: #302 of 517 in CA

Livability — Porterville

• Score: 60/100
• State rank: #561
• US rank: #18537

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Porterville, CA
• County: Tulare County · 323,826 people
• City population: 80,467
• Metro: Visalia, CA
• Population (ZIP): 80,467
• Household income: $59,704
• Rent vs Own: 44.4% rent · 55.6% own
• Severe rent burden: 3028.0

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: Predominantly Hispanic (72%)
• Race & ethnicity: Hispanic / Latino 72% Two or more races 23% White 21% Native American 3% Asian 2%
• Hispanic origin (detail): Mexican 69%
• Common ancestry: Iranian 1%
• Foreign-born: 26% · Canada
• Languages at home: 45% English-only · Spanish 52% Tagalog/Filipino 1% Arabic 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: ▼ -375.52%
• Current HPI: 362.656
• Rent YoY: ▲ 4.07%
• 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

-0.4% since first listed

4 events — show timeline

• 2026-04-01 Price Changed $537,700 TCMLS
• 2026-03-20 Relisted — TCMLS
• 2026-03-12 Delisted — TCMLS
• 2025-12-11 Listed $539,900 TCMLS