| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Good |
| Demographics | 32nd | Good |
| Amenities | 32nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 245 W North Way, Dinuba, CA, 93618, US |
| Region / Metro | Dinuba |
| Year of Construction | 1986 |
| Units | 38 |
| Transaction Date | 2004-05-05 |
| Transaction Price | $560,000 |
| Buyer | FARM CREDIT WEST FLCA |
| Seller | DOYLE A JAMES |
245 W North Way Dinuba Multifamily Investment
This 38-unit property built in 1986 operates in a neighborhood with 98.9% occupancy rates and stable rental demand. Commercial real estate analysis from WDSuite indicates the area ranks in the top quartile regionally for occupancy performance among 142 metro neighborhoods.
The Dinuba neighborhood demonstrates strong rental fundamentals with occupancy rates of 98.9%, ranking 20th among 142 metro neighborhoods and placing in the 93rd percentile nationally. This suburban market maintains a 30.5% rental occupancy share, providing a stable tenant base for multifamily operators. Median contract rents of $879 have grown 23.6% over five years, indicating sustained pricing power despite remaining below regional averages.
Built in 1986, this property aligns with the neighborhood's average construction vintage of 1988, suggesting consistent building stock without significant capital expenditure disadvantages. The area's household demographics within a 3-mile radius show an average household size of 3.8 people, supporting demand for larger unit formats. Population growth of 5.5% over five years and projected 10.9% growth through 2028 indicates expanding renter pools.
The neighborhood's median household income of $75,682 has increased 54.4% over five years, though forecasted median income growth to $96,821 by 2028 suggests continued economic strengthening. Home values averaging $272,584 with 35.7% five-year appreciation may reinforce rental demand as ownership costs rise relative to renting options. Rent-to-income ratios remain manageable at 0.14, supporting tenant retention and lease renewal stability.
Local amenities include moderate restaurant density and pharmacy access, though the area shows limited café, childcare, and park infrastructure. School ratings average 3.0 out of 5, ranking 6th among metro neighborhoods in the 61st percentile nationally, providing adequate educational access for family renters.
The neighborhood demonstrates mixed safety metrics that require careful monitoring. Property crime rates of 3.44 per 1,000 residents rank 1st among 142 metro neighborhoods, placing in the 98th percentile nationally for property crime safety. However, violent crime rates show concerning trends, with current levels at 4.61 per 100,000 residents ranking 9th locally in the 81st percentile nationally, but experiencing a 143% year-over-year increase.
While property crime performance remains exceptionally strong compared to regional and national benchmarks, the recent uptick in violent crime warrants attention for tenant retention and leasing considerations. Investors should monitor crime trend data and consider security enhancements or tenant safety communications as part of property management strategy.
The regional employment base includes established corporate operations that support workforce housing demand, though major employers require longer commutes from this Dinuba location.
- International Paper — paper manufacturing and corporate offices (21.0 miles)
- Con Agra Foods — food processing and corporate offices (38.4 miles)
This 38-unit property offers exposure to a high-occupancy suburban market with demonstrated rental demand stability. According to CRE market data from WDSuite, the neighborhood's 98.9% occupancy rate ranks in the top quartile nationally, indicating strong fundamental demand drivers. The 1986 construction year aligns with area norms, avoiding significant vintage disadvantages while potentially offering value-add renovation opportunities as the market matures.
Demographic trends within the 3-mile radius show population growth of 5.5% over five years with projections for continued 10.9% expansion through 2028, supporting tenant base expansion. Household income growth of 54.4% over five years demonstrates economic strengthening, though investors should monitor rent-to-income ratios as home values appreciate 35.7% and potentially shift rental versus ownership dynamics.
- Exceptional occupancy performance at 98.9%, ranking top quartile nationally among metro neighborhoods
- Growing population base with 10.9% projected growth through 2028 supporting rental demand
- Vintage alignment with neighborhood average reduces capital expenditure disadvantages
- Stable rent growth of 23.6% over five years with manageable rent-to-income ratios
- Risk consideration: Recent violent crime increase of 143% requires monitoring and potential security investments