2242 Oleander St · Delano, CA 93215

$259,000

4 bd · 1.0 ba · 1,236 sqft · SingleFamily public records · 1 Days on market

Built 1956 6,098 sqft lot Est $318k · 18% 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 +14.8/30.0
• DSCR +4.5/10.0
• Schools +3.4/10.0
• 1% rule +3.2/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Good deal in Delano. 4 bedroom home on corner of Oleander and 23rd. Opportunity to restore this house to your home. Don't delay. .. call today!

Key facts

• New ac
• Corner lot
• 6,098 sq ft lot

Tags

• CORNER LOT
• NEW AC

Property features AI

Exterior

• Parking: Uncovered parking
• Utilities: Public water; Sewer
• Home design: Single-family residence (R1 zoning)
• Construction: Slab foundation; Composition roof
• Exterior features: Covered patio; Corner lot

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Evaporative cooling; Floor/wall heater
• Interior features: Formal living room; Evaporative cooling; Floor/wall heating

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $259k.

Deal economics

• At list price, monthly cash flow is $71 ($849/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $212k (18.3% below list).
• Recommended offer: $212k (18.3% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 3.2% in Delano — 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 50/100 on livability (#1,143 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: cost of living D, amenities F, commute F.
• Delano Union Elementary (suburban): math 32% / reading 43% proficiency, ranked #860 of 1,400 in CA (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Princeton Street Elementary (365 students, 91% FRL) — zoned schools average 91% FRL vs 76% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 149 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 3,244 units permitted in Kern County in 2024 (73 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 30y ago; this cycle's ask is 4% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $30k; list at $259k implies a 763% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $211,544 (18.3% below list)

Questions for the listing agent

1. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.82% ✗
• Cap rate: 6.62%
• Cash-on-cash: 1.17%
• DSCR: 1.05
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $317,652
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1202 Lewis Ave	0.25mi	3/2.0 (-1)	1,285 (+4%)	1mo	$330,000	$257	72
2240 Princeton St	0.19mi	3/1.8 (-1)	1,280 (+4%)	12mo	$320,000	$250	67
2307 Oxford St	0.06mi	3/2.0 (-1)	1,132 (-8%)	9mo	$283,000	$250	67
1112 Valencia Ave	0.40mi	4/2.0	1,160 (-6%)	2mo	$251,500	$217	66
2302 Norwalk St	0.06mi	3/2.0 (-1)	1,098 (-11%)	5mo	$350,000	$319	65
2104 Norwalk St	0.22mi	3/1.0 (-1)	1,176 (-5%)	14mo	$289,000	$246	65
1473 22nd Ave	0.10mi	3/2.0 (-1)	1,416 (+15%)	0mo	$250,000	$177	62
2214 Quincy	0.32mi	4/2.5	1,397 (+13%)	1mo	$367,000	$263	56
2129 Randolph St	0.47mi	3/2.0 (-1)	1,260 (+2%)	14mo	$329,000	$261	55
2125 Randolph St	0.47mi	3/2.0 (-1)	1,260 (+2%)	14mo	$360,000	$286	54
1827 Summer Dr	0.50mi	3/2.0 (-1)	1,303 (+5%)	15mo	$355,000	$272	46
725 18th	0.74mi	3/2.0 (-1)	1,412 (+14%)	2mo	$332,500	$235	31

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: -14.5%
• Equity multiple: 0.48×
• Total profit: $-37,546
• Equity at exit: $38,618

10-year hold

• IRR: -5.8%
• Equity multiple: 0.62×
• Total profit: $-27,234
• Equity at exit: $22,394

Cash invested: $72,520 (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 93215

• Home prices YoY: -15.4%
• Active inventory: 149
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $2,115 high
• Mortgage (P&I): −$1,358
• Tax from tax record: −$134 /mo · $1,611/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$444
• Net cashflow: $71

Break-even live

Break-even rent $2,026

Max offer price $259,000

Occupancy floor 92%

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: $64,750
• Closing costs: $7,770
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2032 Norwalk St Delano, CA	3.0	2.0	1040	$2,100	$2.02	2d	1	0.26mi
2111 Kalibo St Delano, CA	4.0	3.0	1260	$2,450	$1.94	2d	1	0.35mi
2203 Rounds St Delano, CA	4.0	2.0	1481	$2,000	$1.35	2d	1	0.37mi
420 20th Ave Unit F Delano, CA	3.0	2.0	1100	$1,900	$1.73	2d	1	0.87mi
420 20th Ave Unit C Delano, CA	3.0	2.0	1100	$1,900	$1.73	43d	1	0.88mi
301 Stork Ct Delano, CA	3.0	2.0	1498	$2,450	$1.64	2d	1	0.90mi
1914 17th Pl Delano, CA	4.0	2.0	1382	$1,900	$1.37	18d	1	0.92mi
2108 Chaparral Dr Delano, CA	4.0	2.0	1352	$2,150	$1.59	10d	1	0.94mi
1225 Lexington St Unit B Delano, CA	3.0	2.0	983	$1,700	$1.73	2d	1	1.03mi

Listing history 12 events

1. 2026-06-19
   pricedays on marketlisting id $259,000 Active 1 DOM
2. 2026-04-30
   listed $249,000 Active
3. 2009-02-20
   soldstatus $30,000 143-char remark

   Show marketing remark (143 chars)

   Good deal in Delano. 4 bedroom home on corner of Oleander and 23rd. Opportunity to restore this house to your home. Don't delay. .. call today!

4. 2009-02-11
   historical 143-char remark

   Show marketing remark (143 chars)

   Good deal in Delano. 4 bedroom home on corner of Oleander and 23rd. Opportunity to restore this house to your home. Don't delay. .. call today!

5. 2009-02-11
   price $45,900 143-char remark

   Show marketing remark (143 chars)

   Good deal in Delano. 4 bedroom home on corner of Oleander and 23rd. Opportunity to restore this house to your home. Don't delay. .. call today!

6. 2009-01-16
   listed $30,000 143-char remark

   Show marketing remark (143 chars)

   Good deal in Delano. 4 bedroom home on corner of Oleander and 23rd. Opportunity to restore this house to your home. Don't delay. .. call today!

7. 2002-04-05
   price $47,500 196-char remark

   Show marketing remark (196 chars)

   Great Starter Home Or Investment In Delano. Over 1400 Squarefeet, 4 Bedrooms, 2 Baths, Living Room With Fireplace, Sep Family Room, Spacious Kitchen With Breakfast Area. Covered Patio And Carport.

8. 1996-10-03
   soldstatus $50,000 196-char remark

   Show marketing remark (196 chars)

   Great Starter Home Or Investment In Delano. Over 1400 Squarefeet, 4 Bedrooms, 2 Baths, Living Room With Fireplace, Sep Family Room, Spacious Kitchen With Breakfast Area. Covered Patio And Carport.

9. 1996-10-03
   soldstatus $50,000

   Show marketing remark (196 chars)

   Great Starter Home Or Investment In Delano. Over 1400 Squarefeet, 4 Bedrooms, 2 Baths, Living Room With Fireplace, Sep Family Room, Spacious Kitchen With Breakfast Area. Covered Patio And Carport.

10. 1996-09-04
    historical 196-char remark

    Show marketing remark (196 chars)

    Great Starter Home Or Investment In Delano. Over 1400 Squarefeet, 4 Bedrooms, 2 Baths, Living Room With Fireplace, Sep Family Room, Spacious Kitchen With Breakfast Area. Covered Patio And Carport.

11. 1996-08-23
    listed $50,000 196-char remark

    Show marketing remark (196 chars)

    Great Starter Home Or Investment In Delano. Over 1400 Squarefeet, 4 Bedrooms, 2 Baths, Living Room With Fireplace, Sep Family Room, Spacious Kitchen With Breakfast Area. Covered Patio And Carport.

12. 1978-03-31
    soldstatus $8,500

ⓘ 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: $1,611 · $134/mo
• Projected year-2 tax: $1,968 · $164/mo
• Expected delta: +$357/yr (+$30/mo · 22.2%)

ⓘ 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 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 30 unhealthy d/yr today · 34 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,385
• − Mortgage interest: −$14,508
• − Property taxes: −$1,611
• − Insurance: −$1,295
• − Repairs & maintenance: −$2,031
• − Management: −$2,031
• − Depreciation: −$7,535
• Taxable loss: −$3,625
• Est. tax savings @ 24.0%: +$870
• After-tax cash flow: $1,719/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: Delano Union Elementary
• NCES district ID: 0610890
• Math proficiency: 32% ▲ 6.00%
• Reading proficiency: 43% ▲ 4.00%
• Median HH income: $36,893
• Composite: 33.68/100
• National rank: #10442
• State rank: #860 of 1400 in CA

Livability — Delano

• Score: 50/100
• State rank: #1143
• US rank: #25752

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Delano, CA
• Population (ZIP): 53,627

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 (77%)
• Race & ethnicity: Hispanic / Latino 77% Two or more races 37% Asian 13% White 5% Black 4%
• Hispanic origin (detail): Mexican 73%
• Foreign-born: 34% · Canada, Vietnam
• Languages at home: 26% English-only · Spanish 64% Tagalog/Filipino 6% Other Asian/Pacific 3%

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: ▼ -70.32%
• Current HPI: 385.3136
• 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

+2829.4% since first listed

11 events — show timeline

• 2026-04-30 Listed $249,000 GEMLS
• 2009-02-20 Sold (MLS) $30,000 GEMLS
• 2009-02-11 Price Changed $45,900 GEMLS
• 2009-02-11 Delisted — GEMLS
• 2009-01-16 Listed $30,000 GEMLS
• 2002-04-05 Price Changed $47,500 GEMLS
• 1996-10-03 Sold (Public Records) $50,000 Public Records
• 1996-10-03 Sold (MLS) $50,000 GEMLS
• 1996-09-04 Delisted — GEMLS
• 1996-08-23 Listed $50,000 GEMLS
• 1978-03-31 Sold (Public Records) $8,500 Public Records

Property tax history

+12.1%/yr

Latest (2025): $1,611 · +3.9% YoY. Source: county tax records.