501 Johannesburg · Johannesburg, CA 93528

$89,900

2 bd · 1.0 ba · 828 sqft · SingleFamily public records · 116 Days on market

Built 1932 6,383 sqft lot $109/sqft · 12% above area Est $80k · 12% 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 +27.0/30.0
• DSCR +9.3/10.0
• 1% rule +6.7/10.0
• Appreciation +5.0/10.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +2.0/15.0
• Livability +1.5/5.0

Listing remarks MLS

Located in a quiet rural area of Johannesburg, CA, this 2-bedroom, 1-bath home sits on a spacious corner lot and offers great potential as a rental property, or peaceful rural getaway. A large laundry room provides flexibility and can be converted into a third bedroom, adding additional value and income potential. Major system upgrades, including a newer roof (approximately 2 years old), a tankless water heater (1 year old), and a recently serviced septic system that was pumped just 6 months ago. The home is connected to city water and operates on propane. A large corner lot offers ample outdoor space, along with an additional storage shed for tools or equipment. Some interior updates have already been started, making this a great opportunity for an investor or owner-occupant ready to add their personal touch and finish the project. Conveniently located near a gas station, this property combines rural living with accessibility. Sold as-is, this is a solid opportunity to build equity and customize a home to your vision.

Key facts

• Newer roof
• Spacious corner lot
• Large laundry room

Tags

• SPACIOUS CORNER LOT
• LARGE LAUNDRY ROOM
• MAJOR SYSTEM UPGRADES
• NEWER ROOF
• TANKLESS WATER HEATER
• CONNECTED TO CITY WATER

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $251 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $82k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 30/100 on livability (#1,466 in CA) — a limited-amenity area; tenant pool skews transient or value-seeking. Strengths: crime A; Watch: cost of living D, amenities F, commute F.
• Sierra Sands Unified (town): math 25% / reading 39% proficiency, ranked #294 of 517 in CA (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 11 active listings in the ZIP; 3,244 units permitted in Kern County in 2024 (73 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($622 loan paydown + $3k appreciation (3.0% local appreciation)).
• 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 + 3.0% rent growth), your $25k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 116 days — a 9% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $45k; list at $90k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1932 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $81,809 (9.0% below list)

Questions for the listing agent

1. It's been on market 116 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1932 — 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. 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.
7. 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.
8. 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: 1.17% ✓
• Cap rate: 9.65%
• Cash-on-cash: 11.97%
• DSCR: 1.53
• GRM: 7.1

CMA / ARV

• ARV (median comp): $80,111
• List price: $89,900
• Delta: 12.22%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
310 Buluwayo Ave	0.14mi	1/1.0 (-1)	847 (+2%)	11mo	$38,000	$45	75
504 Broadway Ave	0.08mi	2/1.0	940 (+14%)	23mo	$143,000	$152	54

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: 18.7%
• Equity multiple: 2.07×
• Total profit: $26,817
• Equity at exit: $40,423

10-year hold

• IRR: 20.0%
• Equity multiple: 3.90×
• Total profit: $73,051
• Equity at exit: $62,297

Cash invested: $25,172 (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 93528

• Active inventory: 11
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,055 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$73 /mo · $877/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $251

Break-even live

Break-even rent $737

Max offer price $89,900

Occupancy floor 71%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-03
   days on market $89,900 Active 116 DOM
2. 2026-06-03
   days on market $89,900 Active 115 DOM
3. 2026-06-01
   days on market $89,900 Active 114 DOM
4. 2026-05-31
   days on market $89,900 Active 113 DOM
5. 2026-02-07
   listed $89,900 Active 1034-char remark

   Show marketing remark (1034 chars)

   Located in a quiet rural area of Johannesburg, CA, this 2-bedroom, 1-bath home sits on a spacious corner lot and offers great potential as a rental property, or peaceful rural getaway. A large laundry room provides flexibility and can be converted into a third bedroom, adding additional value and income potential. Major system upgrades, including a newer roof (approximately 2 years old), a tankless water heater (1 year old), and a recently serviced septic system that was pumped just 6 months ago. The home is connected to city water and operates on propane. A large corner lot offers ample outdoor space, along with an additional storage shed for tools or equipment. Some interior updates have already been started, making this a great opportunity for an investor or owner-occupant ready to add their personal touch and finish the project. Conveniently located near a gas station, this property combines rural living with accessibility. Sold as-is, this is a solid opportunity to build equity and customize a home to your vision.

6. 2007-07-12
   soldstatus $45,000
7. 1998-10-20
   soldstatus $8,000

ⓘ 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: $877 · $73/mo
• Projected year-2 tax: $877 · $73/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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥99°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,654
• − Mortgage interest: −$5,036
• − Property taxes: −$877
• − Insurance: −$450
• − Repairs & maintenance: −$1,012
• − Management: −$1,012
• − Depreciation: −$2,615
• Taxable income: $1,653
• Est. tax owed @ 24.0%: −$397
• After-tax cash flow: $2,617/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: Sierra Sands Unified
• NCES district ID: 0636800
• Math proficiency: 25% ▼ -11.00%
• Reading proficiency: 39% ▼ -11.00%
• Median HH income: $58,937
• Composite: 28.66/100
• National rank: #6699
• State rank: #294 of 517 in CA

Livability — Johannesburg

• Score: 30/100
• State rank: #1466
• US rank: #27894

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Johannesburg, CA
• City population: 77
• Population (ZIP): 77

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 Asian (100%)
• Race & ethnicity: Asian 100%
• Foreign-born: 87% · Vietnam
• Languages at home: 0% English-only · Vietnamese 77% Chinese 23%

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: —
• Current HPI: —
• 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

+1023.8% since first listed

3 events — show timeline

• 2026-02-07 Listed $89,900 CRMLS
• 2007-07-12 Sold (Public Records) $45,000 Public Records
• 1998-10-20 Sold (Public Records) $8,000 Public Records

Property tax history

+7.7%/yr

Latest (2025): $877 · +6.2% YoY. Source: county tax records.