3652 Half Dome Ave

Rosamond, CA 93560

$419,999D-

3 bd · 2.0 ba · 1,809 sqft · Built 2017 · SingleFamily · Pending · 47 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,904/mo
• Mortgage (P&I): −$2,203
• Tax + insurance: −$656
• HOA: −$0
• Vac / Maint / Mgmt: −$610
• Net cashflow: $-564/mo
• Annual: $-6,768/yr
• Cap rate: 4.68%
• Cash-on-cash: -5.75%
• DSCR: 0.74
• 1% rule: 0.69%
• Cash to close: $117,600

Investor read

• This is a 3-bed/2.0-bath single-family listed at $420k.
• At list price, monthly cash flow is $-564 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $320k (23.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $290k (30.9% below list).
• It's been on market 47 days — a 3% lower offer ($407k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $290k (30.9% below list) — sets the bar for 1% rule.
• In year one you build about $13k of equity ($3k loan paydown + $10k appreciation (2.4% local appreciation)).
• Location reads 49/100 on livability (#1,178 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: schools F, crime F, amenities F.
• Southern Kern Unified (town): math 25% / reading 25% proficiency, ranked #387 of 517 in CA (top 75%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 458 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 3,244 units permitted in Kern County in 2024 (73 in 5+ unit buildings).
• Kern County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts 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.
• By year 3, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• At $2,904/mo this rent would consume 45% of the median local household income ($77k/yr) (locally 425% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• 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?
• It's been on market 47 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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?
• 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.
• 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.