2320 Michael St · Bakersfield, CA 93307

$387,000

2 bd · 1.0 ba · 2,148 sqft · MultiFamily public records · 70 Days on market

Built 1980 7,405 sqft lot $180/sqft · 14% below area Est $450k · 14% under

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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 +18.1/30.0
• ARV discount +13.8/15.0
• DSCR +5.7/10.0
• 1% rule +4.4/10.0
• Rent growth +3.9/5.0
• Schools +3.4/10.0
• Livability +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Excellent investment opportunity in the heart of Bakersfield! This duplex at 2320 Michael St offers two spacious units, each featuring 3 bedrooms and 1 bathroom, perfect for generating strong rental income or accommodating multi-generational living. Each unit provides a functional layout with comfortable living spaces and convenient in-unit laundry hookups for added tenant appeal. The property offers separate living areas, making it ideal for owner-occupants looking to live in one unit while renting out the other, or for investors seeking a solid addition to their portfolio. Situated in an established neighborhood with easy access to schools, shopping, and major roadways, this duplex combines convenience and long-term value. Don't miss your chance to own a versatile income-producing property in a growing market!

Key facts

• 7,405 sq ft lot
• Built 1980
• Listed 70 days

Tags

• INVESTMENT OPPORTUNITY
• SEPARATE LIVING AREAS
• IN-UNIT LAUNDRY HOOKUPS
• ESTABLISHED NEIGHBORHOOD
• EASY ACCESS TO SCHOOLS
• EASY ACCESS TO SHOPPING

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $387k.

Deal economics

• At list price, monthly cash flow is $341 ($4k/yr) — positive. Per door: $171/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 $366k (5.5% below list).
• Recommended offer: $364k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 3.6% in Bakersfield — 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 (#716 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: health & safety D, schools D-, crime F.
• Kern High (urban): math 21% / reading 51% proficiency, ranked #860 of 1,400 in CA (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.7%/yr); 311 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 3,244 units permitted in Kern County in 2024 (73 in 5+ unit buildings).
• At $3,657/mo this rent would consume 78% of the median local household income ($56k/yr) (locally 3246% 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 $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Kern County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($364k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 35y 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.
• Current owner paid $115k; list at $387k implies a 237% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $363,780 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 0.94% ✗
• Cap rate: 7.35%
• Cash-on-cash: 3.78%
• DSCR: 1.17
• GRM: 8.8

CMA / ARV

• ARV (median comp): $449,964
• List price: $387,000
• Delta: -13.99%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.71% rent growth · sell at horizon

5-year hold

• IRR: -7.5%
• Equity multiple: 0.72×
• Total profit: $-30,754
• Equity at exit: $57,703

10-year hold

• IRR: 5.1%
• Equity multiple: 1.42×
• Total profit: $45,547
• Equity at exit: $33,461

Cash invested: $108,360 (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 93307

• Rents YoY: 5.7%
• Active inventory: 311
• Price-to-rent: 17.6×

Monthly cashflow live

• Estimated rent: $3,657 high
• Mortgage (P&I): −$2,029
• Tax from tax record: −$357 /mo · $4,284/yr
• Insurance: −$161
• HOA: −$0
• Vacancy / Maint / Mgmt: −$768
• Net cashflow: $341

Break-even live

Break-even rent $3,225

Max offer price $387,000

Occupancy floor 86%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,656
Total (2 units)			$3,657

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: $96,750
• Closing costs: $11,610
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
710 Chateau Ct Bakersfield, CA	3.0	2.0	1729	$2,200	$1.27	43d	1	0.83mi
715 Houchin Rd Bakersfield, CA	3.0	2.0	1650	$2,150	$1.30	43d	1	1.35mi
4513 Barry St Bakersfield, CA	3.0	2.0	1492	$1,975	$1.32	2d	1	1.43mi
801 Oleander Ave Bakersfield, CA	3.0	2.0	1700	$2,480	$1.46	2d	1	1.45mi

Listing history 26 events

1. 2026-06-18
   days on market $387,000 Active 70 DOM
2. 2026-06-17
   days on market $387,000 Active 69 DOM
3. 2026-06-16
   days on market $387,000 Active 68 DOM
4. 2026-06-15
   days on market $387,000 Active 67 DOM
5. 2026-06-14
   days on market $387,000 Active 65 DOM
6. 2026-06-10
   days on market $387,000 Active 62 DOM
7. 2026-06-09
   days on market $387,000 Active 61 DOM
8. 2026-06-08
   days on market $387,000 Active 60 DOM
9. 2026-06-07
   pricedays on market $387,000 Active 59 DOM
10. 2026-06-05
    days on market $395,000 Active 56 DOM
11. 2026-06-03
    days on market $395,000 Active 55 DOM
12. 2026-06-03
    days on market $395,000 Active 54 DOM
13. 2026-06-01
    days on market $395,000 Active 53 DOM
14. 2026-05-31
    days on market $395,000 Active 52 DOM
15. 2026-04-09
    listed $395,000 Active 823-char remark

    Show marketing remark (823 chars)

    Excellent investment opportunity in the heart of Bakersfield! This duplex at 2320 Michael St offers two spacious units, each featuring 3 bedrooms and 1 bathroom, perfect for generating strong rental income or accommodating multi-generational living. Each unit provides a functional layout with comfortable living spaces and convenient in-unit laundry hookups for added tenant appeal. The property offers separate living areas, making it ideal for owner-occupants looking to live in one unit while renting out the other, or for investors seeking a solid addition to their portfolio. Situated in an established neighborhood with easy access to schools, shopping, and major roadways, this duplex combines convenience and long-term value. Don't miss your chance to own a versatile income-producing property in a growing market!

16. 2026-04-02
    listed $399,000 Active
17. 2015-08-28
    soldstatus $115,000
18. 2015-08-10
    historical
19. 2015-08-10
    price $129,900
20. 2015-03-03
    listed $115,000
21. 1994-10-31
    soldstatus $82,500
22. 1992-04-06
    soldstatus $74,000
23. 1992-03-10
    price $75,000
24. 1992-03-10
    historical
25. 1991-12-17
    listed $74,000
26. 1989-03-22
    soldstatus $43,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $4,284 · $357/mo
• Projected year-2 tax: $4,284 · $357/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 33 unhealthy d/yr today · 37 by 30 yrs out

Taxation est. · year 1

• Rental income: $43,884
• − Mortgage interest: −$21,678
• − Property taxes: −$4,284
• − Insurance: −$1,935
• − Repairs & maintenance: −$3,511
• − Management: −$3,511
• − Depreciation: −$11,258
• Taxable loss: −$2,293
• Est. tax savings @ 24.0%: +$550
• After-tax cash flow: $4,646/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: Kern High
• NCES district ID: 0619540
• Math proficiency: 21% ▬ 0.00%
• Reading proficiency: 51% ▲ 2.00%
• Median HH income: $49,686
• Composite: 33.68/100
• National rank: #10443
• State rank: #860 of 1400 in CA

Livability — Bakersfield

• Score: 58/100
• State rank: #716
• US rank: #21355

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Kern County · 710,371 people
• City population: 499,124
• Metro: Bakersfield, CA
• Population (ZIP): 85,945
• Household income: $56,446
• Rent vs Own: 53.0% rent · 47.0% own
• Severe rent burden: 3246.0

Population outlook (Kern County) Hauer SSP2

• Today (2025): 947,286 people
• By 2030: 978,984 · +3.3%
• By 2040: 1,045,018 · +10.3%
• By 2050: 1,105,232 · +16.7%
• By 2075: 1,229,538 · +29.8%
• By 2100: 1,238,059 · +30.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (80%)
• Race & ethnicity: Hispanic / Latino 80% Two or more races 12% White 10% Black 6% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 73%
• Common ancestry: Lithuanian 0%
• Foreign-born: 31% · Canada
• Languages at home: 28% English-only · Spanish 69% Other Indo-European 1% Arabic 1%

Political lean MEDSL · Kern

• 2024 margin: Strong R (+21.1) · D 38.2% · R 59.3% · Other 2.5%
• 2008→2024 swing: -3.3pp toward R · 2008: -17.8pp · 2024: -21.1pp
• All cycles: 2024: R+21.1 2020: R+10.2 2016: R+15.0 2012: R+20.9 2008: R+17.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -263.59%
• Current HPI: 447.1746
• Rent YoY: ▲ 5.71%
• Metro: Bakersfield, 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

+818.6% since first listed

12 events — show timeline

• 2026-04-09 Listed $395,000 GEMLS
• 2026-04-02 Listed $399,000 GEMLS
• 2015-08-28 Sold (MLS) $115,000 GEMLS
• 2015-08-10 Price Changed $129,900 GEMLS
• 2015-08-10 Delisted — GEMLS
• 2015-03-03 Listed $115,000 GEMLS
• 1994-10-31 Sold (Public Records) $82,500 Public Records
• 1992-04-06 Sold (MLS) $74,000 GEMLS
• 1992-03-10 Delisted — GEMLS
• 1992-03-10 Price Changed $75,000 GEMLS
• 1991-12-17 Listed $74,000 GEMLS
• 1989-03-22 Sold (Public Records) $43,000 Public Records

Property tax history

+6.6%/yr

Latest (2025): $4,284 · +2.4% YoY. Source: county tax records.