4501 Columbus St · Bakersfield, CA 93306

$2,783,000

1150 bd · 1170.0 ba · 12,300 sqft · MultiFamily public records · 36 Days on market

Built 1967 0.85 ac lot $226/sqft · 126% above area Est $2597k · 7% over

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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 +29.0/30.0
• DSCR +10.0/10.0
• 1% rule +7.4/10.0
• ARV discount +4.3/15.0
• Schools +3.4/10.0
• Rent growth +3.1/5.0
• 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 (5+ Unit). Listing-text estimate: 25 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Situated in the desirable upper Northeast Bakersfield submarket, 4501 Columbus Street presents a rare opportunity to acquire a well-located 25-unit multifamily community offered at $2,783,000 ($111,320 per unit). Built between 1966-1967 and encompassing approximately 25,896 square feet, the property features a diverse unit mix including 7 spacious 2-bedroom/2.25-bath townhomes, 12 2-bedroom/2-bath units, 5 1-bedroom/1-bath units, and 1 large 3-bedroom/2-bath unit appealing to a broad tenant base. Recent capital improvements include a freshly painted exterior and a recently replaced (2) roofs, reducing near-term maintenance expenses. Current rents range from $829 to $1,400, providing investors with immediate upside through strategic rent increases and operational efficiencies. Ideally located near the scenic Panorama Bluffs, Bakersfield College, and the Bakersfield Country Club, the property benefits from strong rental demand and convenient access to local amenities.

Key facts

• 0.85 acre lot
• Garage
• Built 1967

Tags

• 25 UNIT MULTIFAMILY COMMUNITY
• FRESHLY PAINTED EXTERIOR
• RECENTLY REPLACED ROOFS
• NEAR SCENIC PANORAMA BLUFFS
• NEAR BAKERSFIELD COLLEGE
• NEAR BAKERSFIELD COUNTRY CLUB

What this means for you Summary

Snapshot

• This is a 7×2bd/2.25ba + 12×2bd/2ba + 5×1bd/1ba units multifamily listed at $2.78M.

Deal economics

• At list price, monthly cash flow is $10k ($114k/yr) — positive. Per door: $381/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($34k rent vs $2.78M).
• Recommended offer: $2.70M (3.0% below list) — sets the bar for market timing.
• Cap rate 10.4% 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 (+2.2%/yr); 387 active listings in the ZIP; 3,244 units permitted in Kern County in 2024 (73 in 5+ unit buildings).
• At $34,438/mo this rent would consume 592% of the median local household income ($70k/yr) (locally 2871% 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 $19k of loan paydown is wiped out by about $83k 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.
• At projected returns (-3.0% appreciation + 2.2% rent growth), your $779k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($2.70M) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 32y 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 $755k; list at $2.78M implies a 269% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 6→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $2,699,510 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% 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 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.24% ✓
• Cap rate: 10.40%
• Cash-on-cash: 14.67%
• DSCR: 1.65
• GRM: 6.7

CMA / ARV

• ARV (median comp): $2,597,233
• List price: $2,783,000
• Delta: 7.15%
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.24% rent growth · sell at horizon

5-year hold

• IRR: 4.3%
• Equity multiple: 1.17×
• Total profit: $129,221
• Equity at exit: $414,954

10-year hold

• IRR: 13.1%
• Equity multiple: 2.01×
• Total profit: $786,433
• Equity at exit: $240,623

Cash invested: $779,240 (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 93306

• Rents YoY: 2.2%
• Active inventory: 387
• Price-to-rent: 165.6×

Monthly cashflow live

• Estimated rent: $34,438 medium
• Mortgage (P&I): −$14,594
• Tax from tax record: −$1,925 /mo · $23,105/yr
• Insurance: −$1,160
• HOA: −$0
• Vacancy / Maint / Mgmt: −$7,232
• Net cashflow: $9,527

Break-even live

Break-even rent $22,379

Max offer price $2,783,000

Occupancy floor 67%

Sensitivity live

Price	-10% $11,102	-5% $10,314	+0% $9,527	+5% $8,739	+10% $7,951
Rent	-10% $6,806	-5% $8,166	+0% $9,527	+5% $10,887	+10% $12,247
Rate	-1.0pp $10,928	-0.5pp $10,235	base $9,527	+0.5pp $8,806	+1.0pp $8,072

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

Units	Beds	Baths	Est. rent
▸ 7× units	2	2.25	$9,800
▸ 12× units	2	2	$16,800
▸ 5× units	1	1	$6,140
1× unit	3	2	$1,696
Total (25 units)			$34,438

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: $695,750
• Closing costs: $83,490
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-14
   statusdays on market $2,783,000 Pending 36 DOM
2. 2026-06-10
   days on market $2,783,000 Active - Contingent 34 DOM
3. 2026-06-09
   days on market $2,783,000 Active - Contingent 33 DOM
4. 2026-06-08
   days on market $2,783,000 Active - Contingent 32 DOM
5. 2026-06-07
   days on market $2,783,000 Active - Contingent 31 DOM
6. 2026-06-05
   days on market $2,783,000 Active - Contingent 28 DOM
7. 2026-06-03
   days on market $2,783,000 Active - Contingent 27 DOM
8. 2026-06-03
   days on market $2,783,000 Active - Contingent 26 DOM
9. 2026-06-01
   days on market $2,783,000 Active - Contingent 25 DOM
10. 2026-05-31
    days on market $2,783,000 Active - Contingent 24 DOM
11. 2026-05-14
    historical Active - Contingent 980-char remark

    Show marketing remark (980 chars)

    Situated in the desirable upper Northeast Bakersfield submarket, 4501 Columbus Street presents a rare opportunity to acquire a well-located 25-unit multifamily community offered at $2,783,000 ($111,320 per unit). Built between 1966-1967 and encompassing approximately 25,896 square feet, the property features a diverse unit mix including 7 spacious 2-bedroom/2.25-bath townhomes, 12 2-bedroom/2-bath units, 5 1-bedroom/1-bath units, and 1 large 3-bedroom/2-bath unit appealing to a broad tenant base. Recent capital improvements include a freshly painted exterior and a recently replaced (2) roofs, reducing near-term maintenance expenses. Current rents range from $829 to $1,400, providing investors with immediate upside through strategic rent increases and operational efficiencies. Ideally located near the scenic Panorama Bluffs, Bakersfield College, and the Bakersfield Country Club, the property benefits from strong rental demand and convenient access to local amenities.

12. 2026-05-06
    listed $2,783,000 Active 980-char remark

    Show marketing remark (980 chars)

    Situated in the desirable upper Northeast Bakersfield submarket, 4501 Columbus Street presents a rare opportunity to acquire a well-located 25-unit multifamily community offered at $2,783,000 ($111,320 per unit). Built between 1966-1967 and encompassing approximately 25,896 square feet, the property features a diverse unit mix including 7 spacious 2-bedroom/2.25-bath townhomes, 12 2-bedroom/2-bath units, 5 1-bedroom/1-bath units, and 1 large 3-bedroom/2-bath unit appealing to a broad tenant base. Recent capital improvements include a freshly painted exterior and a recently replaced (2) roofs, reducing near-term maintenance expenses. Current rents range from $829 to $1,400, providing investors with immediate upside through strategic rent increases and operational efficiencies. Ideally located near the scenic Panorama Bluffs, Bakersfield College, and the Bakersfield Country Club, the property benefits from strong rental demand and convenient access to local amenities.

13. 2026-02-13
    historical $1,050
14. 2026-01-08
    listed $1,050
15. 2024-06-08
    historical $1,495
16. 2024-04-24
    listed $1,495
17. 2022-08-01
    price $1,300
18. 1994-08-18
    soldstatus $755,000 109-char remark

    Show marketing remark (109 chars)

    Make Offer Subj To Insp. Great Units In Ne Area. Priced At Onl6.5+gross. `college Townhouses`. Co-lister Bob.

19. 1994-08-18
    soldstatus $755,000

    Show marketing remark (109 chars)

    Make Offer Subj To Insp. Great Units In Ne Area. Priced At Onl6.5+gross. `college Townhouses`. Co-lister Bob.

20. 1994-04-29
    historical 109-char remark

    Show marketing remark (109 chars)

    Make Offer Subj To Insp. Great Units In Ne Area. Priced At Onl6.5+gross. `college Townhouses`. Co-lister Bob.

21. 1994-04-29
    price $870,000 109-char remark

    Show marketing remark (109 chars)

    Make Offer Subj To Insp. Great Units In Ne Area. Priced At Onl6.5+gross. `college Townhouses`. Co-lister Bob.

22. 1994-04-18
    listed $755,000 109-char remark

    Show marketing remark (109 chars)

    Make Offer Subj To Insp. Great Units In Ne Area. Priced At Onl6.5+gross. `college Townhouses`. Co-lister Bob.

23. 1993-03-26
    soldstatus $650,000

ⓘ 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: $23,105 · $1,925/mo
• Projected year-2 tax: $23,105 · $1,925/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 7/10 Severe
• 🌡 Heat 8/10 Severe 6 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 34 unhealthy d/yr today · 40 by 30 yrs out

Taxation est. · year 1

• Rental income: $413,256
• − Mortgage interest: −$155,891
• − Property taxes: −$23,105
• − Insurance: −$13,915
• − Repairs & maintenance: −$33,060
• − Management: −$33,060
• − Depreciation: −$80,960
• Taxable income: $73,264
• Est. tax owed @ 24.0%: −$17,583
• After-tax cash flow: $96,737/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

• Census place: Bakersfield, CA
• County: Kern County · 710,371 people
• City population: 499,124
• Metro: Bakersfield, CA
• Population (ZIP): 74,116
• Household income: $69,805
• Rent vs Own: 36.2% rent · 63.8% own
• Severe rent burden: 2871.0

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 (67%)
• Race & ethnicity: Hispanic / Latino 67% White 23% Two or more races 20% Black 3% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 63%
• Common ancestry: Italian 2% Slovak 1% Russian 1%
• Foreign-born: 19% · Canada
• Languages at home: 50% English-only · Spanish 46% Other Asian/Pacific 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: ▼ -323.02%
• Current HPI: 358.5434
• Rent YoY: ▲ 2.24%
• 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

+328.2% since first listed

13 events — show timeline

• 2026-05-14 Contingent — GEMLS
• 2026-05-06 Listed $2,783,000 GEMLS
• 2026-02-13 Rental Removed $1,050 APPFOLIO
• 2026-01-08 Listed for Rent $1,050 APPFOLIO
• 2024-06-08 Rental Removed $1,495 APPFOLIO
• 2024-04-24 Listed for Rent $1,495 APPFOLIO
• 2022-08-01 Price Changed $1,300 RENT.
• 1994-08-18 Sold (Public Records) $755,000 Public Records
• 1994-08-18 Sold (MLS) $755,000 GEMLS
• 1994-04-29 Price Changed $870,000 GEMLS
• 1994-04-29 Delisted — GEMLS
• 1994-04-18 Listed $755,000 GEMLS
• 1993-03-26 Sold (Public Records) $650,000 Public Records

Property tax history

+2.8%/yr

Latest (2025): $23,105 · +1.7% YoY. Source: county tax records.