12331 Oakgrove Ave · Clearlake Oaks, CA 95423

$199,000

1 bd · 1.0 ba · 1,770 sqft · SingleFamily public records · 327 Days on market

Built 1958 5,663 sqft lot $112/sqft · 38% below area Est $322k · 38% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +10.2/30.0
• 1% rule +3.0/10.0
• Livability +3.0/5.0
• DSCR +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover great value and flexible living in Clearlake County. This spacious property offers 1,770 square feet of living space on a 5,663 square foot lot and gives you different ways to enjoy the home. You can live in it as one large single-family home or take advantage of the layout and separate it into two studio style units, each with its own private entrance. Located in the scenic 95423 area near the beautiful Clearlake, you'll have easy access to fishing, boating, outdoor recreation, and everything this peaceful community has to offer. It's a great option for multi-generational living, someone looking for a quiet retreat, or buyers and investors who want a property with rental income potential. Homes with this kind of flexibility are not easy to find. With a recent price reduction, this is a great opportunity to own a property that offers comfort, privacy, and investment potential. Schedule your private tour today before it's gone.

Key facts

• Two separate units
• Private entrance
• Rental income

Tags

• TWO SEPARATE UNITS
• PRIVATE ENTRANCE
• RENTAL INCOME

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $-113 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $179k (10.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $159k (20.0% below list).
• Recommended offer: $159k (20.0% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 4.3% in Clearlake Oaks — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 60/100 on livability (#569 in CA) — a middle-class / working-renter tenant base. Strengths: housing A+, crime B; Watch: health & safety C-, schools F, amenities F.
• Konocti Unified (town): math 9% / reading 21% proficiency, ranked #494 of 517 in CA (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 77% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 136 active listings in the ZIP; 107 units permitted in Lake County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Lake County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 327 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 15y ago; this cycle's ask has dropped $41k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 8→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $159,180 (20.0% 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 327 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
7. 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?
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 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: 0.80% ✗
• Cap rate: 5.61%
• Cash-on-cash: -2.44%
• DSCR: 0.89
• GRM: 10.4

CMA / ARV

• ARV (median comp): $322,092
• List price: $199,000
• Delta: -38.22%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12929 Lakeland St	0.44mi	2/2.0 (+1)	1,526 (-14%)	7mo	$312,000	$204	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -20.3%
• Equity multiple: 0.29×
• Total profit: $-39,453
• Equity at exit: $29,672

10-year hold

• IRR: -13.4%
• Equity multiple: 0.22×
• Total profit: $-43,576
• Equity at exit: $17,206

Cash invested: $55,720 (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 95423

• Home prices YoY: -20.6%
• Active inventory: 136
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,592 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$245 /mo · $2,934/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $-113

Break-even live

Break-even rent $1,735

Max offer price $178,951

Occupancy floor —

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-02
   days on market $199,000 Active 327 DOM
2. 2026-06-01
   days on market $199,000 Active 326 DOM
3. 2026-05-31
   days on market $199,000 Active 325 DOM
4. 2026-05-30
   days on market $199,000 Active 324 DOM
5. 2026-03-12
   price $199,000 955-char remark

   Show marketing remark (955 chars)

   Discover great value and flexible living in Clearlake County. This spacious property offers 1,770 square feet of living space on a 5,663 square foot lot and gives you different ways to enjoy the home. You can live in it as one large single-family home or take advantage of the layout and separate it into two studio style units, each with its own private entrance. Located in the scenic 95423 area near the beautiful Clearlake, you'll have easy access to fishing, boating, outdoor recreation, and everything this peaceful community has to offer. It's a great option for multi-generational living, someone looking for a quiet retreat, or buyers and investors who want a property with rental income potential. Homes with this kind of flexibility are not easy to find. With a recent price reduction, this is a great opportunity to own a property that offers comfort, privacy, and investment potential. Schedule your private tour today before it's gone.

6. 2025-11-06
   price $219,000 955-char remark

   Show marketing remark (955 chars)

   Discover great value and flexible living in Clearlake County. This spacious property offers 1,770 square feet of living space on a 5,663 square foot lot and gives you different ways to enjoy the home. You can live in it as one large single-family home or take advantage of the layout and separate it into two studio style units, each with its own private entrance. Located in the scenic 95423 area near the beautiful Clearlake, you'll have easy access to fishing, boating, outdoor recreation, and everything this peaceful community has to offer. It's a great option for multi-generational living, someone looking for a quiet retreat, or buyers and investors who want a property with rental income potential. Homes with this kind of flexibility are not easy to find. With a recent price reduction, this is a great opportunity to own a property that offers comfort, privacy, and investment potential. Schedule your private tour today before it's gone.

7. 2025-09-26
   price $219,500 955-char remark

   Show marketing remark (955 chars)

   Discover great value and flexible living in Clearlake County. This spacious property offers 1,770 square feet of living space on a 5,663 square foot lot and gives you different ways to enjoy the home. You can live in it as one large single-family home or take advantage of the layout and separate it into two studio style units, each with its own private entrance. Located in the scenic 95423 area near the beautiful Clearlake, you'll have easy access to fishing, boating, outdoor recreation, and everything this peaceful community has to offer. It's a great option for multi-generational living, someone looking for a quiet retreat, or buyers and investors who want a property with rental income potential. Homes with this kind of flexibility are not easy to find. With a recent price reduction, this is a great opportunity to own a property that offers comfort, privacy, and investment potential. Schedule your private tour today before it's gone.

8. 2025-08-15
   price $220,000 955-char remark

   Show marketing remark (955 chars)

   Discover great value and flexible living in Clearlake County. This spacious property offers 1,770 square feet of living space on a 5,663 square foot lot and gives you different ways to enjoy the home. You can live in it as one large single-family home or take advantage of the layout and separate it into two studio style units, each with its own private entrance. Located in the scenic 95423 area near the beautiful Clearlake, you'll have easy access to fishing, boating, outdoor recreation, and everything this peaceful community has to offer. It's a great option for multi-generational living, someone looking for a quiet retreat, or buyers and investors who want a property with rental income potential. Homes with this kind of flexibility are not easy to find. With a recent price reduction, this is a great opportunity to own a property that offers comfort, privacy, and investment potential. Schedule your private tour today before it's gone.

9. 2025-07-10
   listed $240,000 Active 955-char remark

   Show marketing remark (955 chars)

   Discover great value and flexible living in Clearlake County. This spacious property offers 1,770 square feet of living space on a 5,663 square foot lot and gives you different ways to enjoy the home. You can live in it as one large single-family home or take advantage of the layout and separate it into two studio style units, each with its own private entrance. Located in the scenic 95423 area near the beautiful Clearlake, you'll have easy access to fishing, boating, outdoor recreation, and everything this peaceful community has to offer. It's a great option for multi-generational living, someone looking for a quiet retreat, or buyers and investors who want a property with rental income potential. Homes with this kind of flexibility are not easy to find. With a recent price reduction, this is a great opportunity to own a property that offers comfort, privacy, and investment potential. Schedule your private tour today before it's gone.

10. 2023-03-23
    soldstatus $179,000
11. 2012-05-02
    soldstatus $25,000 105-char remark

    Show marketing remark (105 chars)

    This three story home appears much larger that it looks. This home has potential, bring your imagination.

12. 2012-05-01
    soldstatus $25,000
13. 2012-04-03
    historical
14. 2011-12-14
    listed $39,900 105-char remark

    Show marketing remark (105 chars)

    This three story home appears much larger that it looks. This home has potential, bring your imagination.

15. 2011-09-23
    listed $39,900

ⓘ 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: $2,934 · $245/mo
• Projected year-2 tax: $2,934 · $245/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 10/10 Extreme
• 🌡 Heat 6/10 Major 8 d/yr ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 32 unhealthy d/yr today · 34 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,102
• − Mortgage interest: −$11,147
• − Property taxes: −$2,934
• − Insurance: −$995
• − Repairs & maintenance: −$1,528
• − Management: −$1,528
• − Depreciation: −$5,789
• Taxable loss: −$4,820
• Est. tax savings @ 24.0%: +$1,157
• After-tax cash flow: $-205/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: Konocti Unified
• NCES district ID: 0620070
• Math proficiency: 9% ▼ -5.00%
• Reading proficiency: 21% ▼ -6.00%
• Median HH income: $30,026
• Composite: 11.81/100
• National rank: #9677
• State rank: #494 of 517 in CA

Livability — Clearlake Oaks

• Score: 60/100
• State rank: #569
• US rank: #18675

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clearlake Oaks, CA
• Population (ZIP): 3,432

Population outlook (Lake County) Hauer SSP2

• Today (2025): 62,396 people
• By 2030: 60,626 · -2.8%
• By 2040: 56,453 · -9.5%
• By 2050: 53,054 · -15.0%
• By 2075: 47,663 · -23.6%
• By 2100: 41,804 · -33.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 18% Two or more races 9% Native American 3% Black 1% Asian 1%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Slovak 5% Lithuanian 4% Russian 2%
• Foreign-born: 11% · Canada, Vietnam
• Languages at home: 84% English-only · Spanish 8% Other Indo-European 7% German/W. Germanic 1%

Political lean MEDSL · Lake

• 2024 margin: Toss-up / Even · D 47.8% · R 49.2% · Other 3.0%
• 2008→2024 swing: -20.6pp toward R · 2008: 19.3pp · 2024: -1.4pp
• All cycles: 2024: R+1.4 2020: D+6.3 2016: D+3.7 2012: D+16.5 2008: D+19.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -46.32%
• Current HPI: 178.9812
• 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

+398.7% since first listed

11 events — show timeline

• 2026-03-12 Price Changed $199,000 BAREIS
• 2025-11-06 Price Changed $219,000 BAREIS
• 2025-09-26 Price Changed $219,500 BAREIS
• 2025-08-15 Price Changed $220,000 BAREIS
• 2025-07-10 Listed $240,000 BAREIS
• 2023-03-23 Sold (Public Records) $179,000 Public Records
• 2012-05-02 Sold (MLS) $25,000 BAREIS
• 2012-05-01 Sold (MLS) $25,000 CRMLS
• 2012-04-03 Listing Removed — CRMLS
• 2011-12-14 Listed $39,900 BAREIS
• 2011-09-23 Listed $39,900 CRMLS

Property tax history

+10.8%/yr

Latest (2025): $2,934 · +1.0% YoY. Source: county tax records.