348 Petrol Rd #394 · Oildale, CA 93308

$69,000

2 bd · 2.0 ba · 800 sqft · Manufactured · 83 Days on market

Built 1967 Good condition 4,000 sqft lot $86/sqft · 40% above area Est $49k · 40% over ↓ 13% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Condition / age +3.8/5.0
• Rent growth +3.1/5.0
• Livability +2.9/5.0
• Appreciation +2.7/10.0
• Schools +2.1/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

2 full bathrooms and 2 full bedrooms. Updated kitchen and flooring, updated windows and garage door. Seller may consider seller financing. Contact agent for more details!

Key facts

• 4,000 sq ft lot
• Garage
• Built 1967

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $69k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $634 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Recommended offer: $65k (6.0% below list) — sets the bar for market timing.
• Cap rate 17.3% vs local median 3.9% in Oildale — 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 (#680 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+, schools B+; Watch: crime F, amenities F, commute F.
• Standard Elementary (suburban): math 16% / reading 27% proficiency, ranked #1,227 of 1,400 in CA (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.2%/yr); 307 active listings in the ZIP; 15 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 $477 of loan paydown is wiped out by about $2k 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 $19k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($65k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $9k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 5→11/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $64,859 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
7. 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.
8. 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.
9. 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: 2.04% ✓
• Cap rate: 17.32%
• Cash-on-cash: 39.39%
• DSCR: 2.75
• GRM: 4.1

CMA / ARV

• ARV (median comp): $49,343
• List price: $69,000
• Delta: 39.84%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
900 James Rd #11	0.07mi	2/1.5	720 (-10%)	13mo	$19,500	$27	67
162 Love Ln	0.56mi	2/1.0	784 (-2%)	0mo	$44,500	$57	66
900 James Rd #7	0.07mi	2/1.5	720 (-10%)	15mo	$16,000	$22	65
83 Eagle Ln	0.49mi	2/2.0	840 (+5%)	10mo	$55,000	$65	60

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 · 2.22% rent growth · sell at horizon

5-year hold

• IRR: 34.8%
• Equity multiple: 2.46×
• Total profit: $28,137
• Equity at exit: $10,288

10-year hold

• IRR: 41.2%
• Equity multiple: 4.74×
• Total profit: $72,175
• Equity at exit: $5,966

Cash invested: $19,320 (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 93308

• Home prices YoY: -0.5%
• Rents YoY: 2.2%
• Active inventory: 307
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,406 high
• Mortgage (P&I): −$362
• Tax est. 1.5%: −$86 /mo · $1,035/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $634

Break-even live

Break-even rent $604

Max offer price $69,000

Occupancy floor 50%

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
730 James Rd Bakersfield, CA	2.0	1.0	835	$1,175	$1.41	2d	1	0.17mi
530 Sunset Meadow Ln Bakersfield, CA	3.0	2.0	1116	$2,050	$1.84	2d	1	0.88mi
3600 N Chester Ave Unit 10-B Bakersfield, CA	2.0	1.0	953	$1,295	$1.36	2d	1	0.92mi
3518 N Chester Ave Unit 6 Bakersfield, CA	1.0	1.0	542	$995	$1.84	43d	1	0.93mi
516 Yellow Meadow Ct Unit C Bakersfield, CA	2.0	2.0	977	$1,720	$1.76	2d	1	0.94mi
548 Yellow Meadow Ct Unit C Bakersfield, CA	2.0	2.0	925	$1,595	$1.72	2d	1	0.95mi
3433 Rustic Meadow Ct Apt B Bakersfield, CA	2.0	2.0	1115	$1,750	$1.57	2d	1	0.97mi
725 Greenwood Meadow Ln Bakersfield, CA	2.0	1.0	935	$1,600	$1.71	21d	1	1.02mi
3125 Park Meadows Dr Unit B Bakersfield, CA	2.0	2.0	898	$1,595	$1.78	2d	1	1.13mi
3125 Park Meadows Dr Unit B Bakersfield, CA	1.0	1.0	718	$1,495	$2.08	43d	1	1.13mi
101 Star Ct Bakersfield, CA	3.0	2.0	1040	$2,145	$2.06	43d	1	1.43mi
2600 Park Meadows Dr Bakersfield, CA	1.0–2.0	1.0–2.0	864	$1,495	$1.73	2d	2	1.46mi
930 Day Ave Unit A Bakersfield, CA	2.0	1.5	900	$1,395	$1.55	2d	1	1.48mi
930 Day Ave Unit C Bakersfield, CA	2.0	1.5	900	$1,395	$1.55	43d	1	1.48mi
932 Day Ave Unit D Bakersfield, CA	2.0	1.0	900	$1,295	$1.44	2d	1	1.49mi

Listing history 21 events

1. 2026-06-18
   days on market $69,000 Active 83 DOM
2. 2026-06-17
   days on market $69,000 Active 82 DOM
3. 2026-06-16
   days on market $69,000 Active 81 DOM
4. 2026-06-15
   days on market $69,000 Active 80 DOM
5. 2026-06-14
   remarks 195-char remark
6. 2026-06-14
   pricedays on market $69,000 Active 78 DOM
7. 2026-06-10
   days on market $77,900 Active 75 DOM
8. 2026-06-09
   days on market $77,900 Active 74 DOM
9. 2026-06-08
   days on market $77,900 Active 73 DOM
10. 2026-06-07
    days on market $77,900 Active 72 DOM
11. 2026-06-05
    days on market $77,900 Active 69 DOM
12. 2026-06-03
    days on market $77,900 Active 68 DOM
13. 2026-06-03
    days on market $77,900 Active 67 DOM
14. 2026-06-01
    days on market $77,900 Active 66 DOM
15. 2026-05-31
    days on market $77,900 Active 65 DOM
16. 2026-03-27
    listed $77,900 Active 170-char remark

    Show marketing remark (170 chars)

    2 full bathrooms and 2 full bedrooms. Updated kitchen and flooring, updated windows and garage door. Seller may consider seller financing. Contact agent for more details!

17. 2025-08-29
    price $79,000
18. 2025-06-13
    listed $89,000 Active
19. 2025-03-10
    status Active
20. 2025-03-01
    status Pending
21. 2024-11-13
    listed $89,999 Active

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

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 5 d/yr ≥104°F today · 11 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 39 unhealthy d/yr today · 45 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,877
• − Mortgage interest: −$3,865
• − Property taxes: −$1,035
• − Insurance: −$345
• − Repairs & maintenance: −$1,350
• − Management: −$1,350
• − Depreciation: −$2,007
• Taxable income: $6,924
• Est. tax owed @ 24.0%: −$1,662
• After-tax cash flow: $5,949/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.

Condition & rehab AI · 10 photos

Good 75/100 Cosmetic rehab

This manufactured home is in good condition with recent updates, making it move-in ready and suitable for both resale and rental.

Value-add opportunities

• Resale Paint exterior trim — Enhances curb appeal and value.
• Resale Replace outdoor light fixture — Improves curb appeal and safety.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior trim — Enhances curb appeal and value. ↑
• Resale Replace outdoor light fixture — Improves curb appeal and safety. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Standard Elementary
• NCES district ID: 0637890
• Math proficiency: 16% ▬ 0.00%
• Reading proficiency: 27% ▼ -3.00%
• Median HH income: $40,574
• Composite: 21.42/100
• National rank: #13640
• State rank: #1227 of 1400 in CA

Livability — Oildale

• Score: 58/100
• State rank: #680
• US rank: #20848

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oildale, CA
• County: Kern County · 710,371 people
• Metro: Bakersfield, CA
• Population (ZIP): 55,078
• Household income: $62,445
• Rent vs Own: 51.3% rent · 48.7% own
• Severe rent burden: 2931.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 57% Hispanic / Latino 32% Two or more races 15% Black 3% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 26%
• Common ancestry: Slovak 3% Italian 1% Romanian 1%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 80% English-only · Spanish 17%

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: ▼ -4.52%
• Current HPI: 825.65
• Rent YoY: ▲ 2.22%
• 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

-13.4% since first listed

6 events — show timeline

• 2026-03-27 Listed $77,900 GEMLS
• 2025-08-29 Price Changed $79,000 GEMLS
• 2025-06-13 Listed $89,000 GEMLS
• 2025-03-10 Relisted — TCMLS
• 2025-03-01 Pending — TCMLS
• 2024-11-13 Listed $89,999 TCMLS