35373 Pine Dr · Springville, CA 93265

$499,000

5 bd · 4.0 ba · 2,604 sqft · MultiFamily public records · 240 Days on market

Built 1951 2,604 sqft lot ↓ 17% since listing

---

Why this score? — see what drove the C 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 +17.2/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.4/10.0
• 1% rule +4.7/10.0
• Schools +4.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Livability +2.4/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Check out this Triplex, ideal for first time home buyers or Investors. Close to shopping and dining. This property has great potential for anyone!! All units are currently rented.

Key facts

• Close to dining
• Triplex
• Close to shopping

Tags

• TRIPLEX
• CLOSE TO SHOPPING
• CLOSE TO DINING

Property features AI

Exterior

• Parking: Carport
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Natural gas available
• Home design: Residential income property; Triplex
• Construction: Other roof
• Exterior features: Fenced yard; Back yard; Front yard; Corner lot; Lot dimensions approximately 106 x 75

Interior

• Heating & cooling: Ceiling fans; Wall/window air conditioning units; Has heating (other)
• Interior features: Updated/remodeled condition; Laundry room
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.5-bath units multifamily listed at $499k.

Deal economics

• At list price, monthly cash flow is $290 ($3k/yr) — positive. Per door: $97/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $482k (3.5% below list).
• Recommended offer: $439k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 1.5% in Springville — 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 48/100 on livability (#1,201 in CA) — a working-class tenant base; expect higher turnover. Strengths: crime A; Watch: housing C-, amenities F, commute F.
• Springville Union Elementary (rural): math 44% / reading 52% proficiency, ranked #476 of 1,400 in CA (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 123 active listings in the ZIP; 1,447 units permitted in Tulare County in 2024 (307 in 5+ unit buildings).

Forward outlook

• In year one you build about $53k of equity ($3k loan paydown + $50k appreciation (10.0% local appreciation)).
• Tulare County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $140k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$86k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 240 days — a 12% lower offer ($439k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $51k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; 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 $439,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 240 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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.
9. 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.
10. 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: 0.97% ✗
• Cap rate: 7.15%
• Cash-on-cash: 3.07%
• DSCR: 1.14
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.1%
• Equity multiple: 3.08×
• Total profit: $290,384
• Equity at exit: $449,539

10-year hold

• IRR: 22.9%
• Equity multiple: 7.02×
• Total profit: $840,809
• Equity at exit: $969,447

Cash invested: $139,720 (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 93265

• Home prices YoY: 9.1%
• Active inventory: 123
• Price-to-rent: 25.9×

Monthly cashflow live

• Estimated rent: $4,817 medium
• Mortgage (P&I): −$2,617
• Tax est. 1.5%: −$624 /mo · $7,485/yr
• Insurance: −$208
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,012
• Net cashflow: $290

Break-even live

Break-even rent $4,449

Max offer price $499,000

Occupancy floor 89%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.5	$4,818
Total (3 units)			$4,817

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: $124,750
• Closing costs: $14,970
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $499,000 Active 240 DOM
2. 2026-06-17
   days on market $499,000 Active 239 DOM
3. 2026-06-16
   days on market $499,000 Active 238 DOM
4. 2026-06-15
   days on market $499,000 Active 237 DOM
5. 2026-06-14
   days on market $499,000 Active 235 DOM
6. 2026-06-13
   days on market $499,000 Active 234 DOM
7. 2026-06-10
   days on market $499,000 Active 232 DOM
8. 2026-06-09
   days on market $499,000 Active 231 DOM
9. 2026-06-08
   days on market $499,000 Active 230 DOM
10. 2026-06-07
    days on market $499,000 Active 229 DOM
11. 2026-06-05
    days on market $499,000 Active 226 DOM
12. 2026-06-03
    days on market $499,000 Active 225 DOM
13. 2026-06-02
    days on market $499,000 Active 224 DOM
14. 2026-06-01
    days on market $499,000 Active 223 DOM
15. 2026-05-31
    days on market $499,000 Active 222 DOM
16. 2026-05-30
    days on market $499,000 Active 221 DOM
17. 2026-02-17
    price $499,000
18. 2025-10-22
    listed $550,000 Active
19. 2025-05-29
    listed $599,000 Active
20. 2022-08-01
    price $950

ⓘ 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 8/10 Severe FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 9/10 Extreme
• 🌡 Heat 8/10 Severe 7 d/yr ≥102°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 49 unhealthy d/yr today · 53 by 30 yrs out

Taxation est. · year 1

• Rental income: $57,804
• − Mortgage interest: −$27,952
• − Property taxes: −$7,485
• − Insurance: −$3,292
• − Repairs & maintenance: −$4,624
• − Management: −$4,624
• − Depreciation: −$14,516
• Taxable loss: −$4,690
• Est. tax savings @ 24.0%: +$1,126
• After-tax cash flow: $4,612/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: Springville Union Elementary
• NCES district ID: 0637770
• Math proficiency: 44% ▲ 4.00%
• Reading proficiency: 52% ▲ 1.00%
• Median HH income: $53,881
• Composite: 43.58/100
• National rank: #6431
• State rank: #476 of 1400 in CA

Livability — Springville

• Score: 48/100
• State rank: #1201
• US rank: #26084

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Springville, CA
• Population (ZIP): 3,532

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 White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 22% Two or more races 19% Asian 6% Pacific Islander 1%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: Slovak 2% Iranian 2% Scottish 1%
• Foreign-born: 4% · Canada, Guatemala, South Korea
• Languages at home: 92% English-only · Spanish 4% Tagalog/Filipino 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: ▲ 30.24%
• Current HPI: 361.9818
• Rent YoY: —
• Metro: —
• 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

-16.7% since first listed

4 events — show timeline

• 2026-02-17 Price Changed $499,000 TCMLS
• 2025-10-22 Listed $550,000 TCMLS
• 2025-05-29 Listed $599,000 TCMLS
• 2022-08-01 Price Changed $950 RENT.

Property tax history

+2.1%/yr

Latest (2025): $690 · +3.5% YoY. Source: county tax records.