1601 Jefferson St · East Bakersfield, CA 93305

$1,425,000

312 bd · 169.0 ba · 3,960 sqft · MultiFamily public records · 8 Days on market

Built 1980 0.43 ac lot

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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 +19.9/30.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• 1% rule +4.5/10.0
• Rent growth +4.2/5.0
• Schools +3.4/10.0
• Livability +2.5/5.0
• 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: 13 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

Great opportunity to add 13 units to your portfolio. The Jefferson apartments consist of (11) Two-Bedroom/One Bath and (2) One-Bedroom/ One Bath for a total of 13 units. The property is turnkey and all three buildings have a brand new roof. The Jefferson apartments consist of 3 buildings (1601, 1603 and 1605 Jefferson Street) on 2 lots. The current rents range from $620-900 for an annual gross income of $118,440. There is immediate upside potential in rents on these units since the current Bakersfield vacancy rate is hovering around 1%. Building priced at $113,500 a unit.

Key facts

• 0.43 acre lot
• Built 1980
• Listed 8 days

Property features AI

Finance

• Other: Occupant type: Tenant
• Financial info: 13-unit multifamily property; Annual gross income: $167,304; Annual net income: $107,075; Total annual expenses: $60,229; Income and expense data is actual; annual property operating data available; Vacancy factor used: 5%; Price per unit listed (data): $109,615.38

Exterior

• Parking: Uncovered parking
• Utilities: Public water
• Home design: Two-story building
• Construction: Slab foundation; Flat roof
• Exterior features: Property on approximately 0.431 acre lot; Zoned R3; Tenant-occupied

Interior

• Kitchen: Kitchens in units (appliance specifics not provided)
• Bedrooms: Multiple 2-bedroom and 1-bedroom units (mix of unit types across property)
• Bathrooms: Each unit includes one bathroom
• Heating & cooling: Central heating; Other heating/cooling types noted
• Interior features: Laundry hookup available
• Laundry & utility: Laundry hookup

What this means for you Summary

Snapshot

• This is a 11×2.0bd/1.0ba + 2×1.0bd/1.0ba units multifamily listed at $1.43M.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $133/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.36M (4.7% below list).
• Recommended offer: $1.36M (4.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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 fast (+6.8%/yr); 143 active listings in the ZIP; lower-income renter base — watch delinquency; 3,244 units permitted in Kern County in 2024 (73 in 5+ unit buildings).
• At $13,575/mo this rent would consume 377% of the median local household income ($43k/yr) (locally 2376% 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 $10k of loan paydown is wiped out by about $43k 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 + 6.8% rent growth), your $399k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 4y 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.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,357,500 (4.7% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 0.95% ✗
• Cap rate: 7.75%
• Cash-on-cash: 5.20%
• DSCR: 1.23
• GRM: 8.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.79% rent growth · sell at horizon

5-year hold

• IRR: -4.4%
• Equity multiple: 0.83×
• Total profit: $-67,280
• Equity at exit: $212,472

10-year hold

• IRR: 9.0%
• Equity multiple: 1.80×
• Total profit: $320,458
• Equity at exit: $123,208

Cash invested: $399,000 (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 93305

• Home prices YoY: -29.9%
• Rents YoY: 6.8%
• Active inventory: 143
• Price-to-rent: 112.4×

Monthly cashflow live

• Estimated rent: $13,575 medium
• Mortgage (P&I): −$7,473
• Tax from tax record: −$927 /mo · $11,126/yr
• Insurance: −$594
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,851
• Net cashflow: $1,730

Break-even live

Break-even rent $11,385

Max offer price $1,425,000

Occupancy floor 82%

Sensitivity live

Price	-10% $2,537	-5% $2,134	+0% $1,730	+5% $1,327	+10% $924
Rent	-10% $658	-5% $1,194	+0% $1,730	+5% $2,267	+10% $2,803
Rate	-1.0pp $2,448	-0.5pp $2,093	base $1,730	+0.5pp $1,361	+1.0pp $986

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

Units	Beds	Baths	Est. rent
▸ 11× units	2.0	1	$11,616
▸ 2× units	1.0	1	$1,954
Total (13 units)			$13,575

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: $356,250
• Closing costs: $42,750
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-18
   days on market $1,425,000 Active 8 DOM
2. 2026-06-17
   days on market $1,425,000 Active 7 DOM
3. 2026-06-16
   days on market $1,425,000 Active 6 DOM
4. 2026-06-15
   days on market $1,425,000 Active 5 DOM
5. 2026-06-14
   remarks 648-char remark
6. 2026-06-14
   listed $1,425,000 Active 3 DOM

ⓘ 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: $11,126 · $927/mo
• Projected year-2 tax: $11,126 · $927/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 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°F today · 19 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: $162,900
• − Mortgage interest: −$79,822
• − Property taxes: −$11,126
• − Insurance: −$7,125
• − Repairs & maintenance: −$13,032
• − Management: −$13,032
• − Depreciation: −$41,455
• Taxable loss: −$2,692
• Est. tax savings @ 24.0%: +$646
• After-tax cash flow: $21,412/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 — East Bakersfield

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: East Bakersfield, CA
• County: Kern County · 710,371 people
• Metro: Bakersfield, CA
• Population (ZIP): 37,714
• Household income: $43,244
• Rent vs Own: 65.8% rent · 34.2% own
• Severe rent burden: 2376.0

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 (76%)
• Race & ethnicity: Hispanic / Latino 76% Two or more races 18% White 16% Black 5% Native American 3%
• Hispanic origin (detail): Mexican 69% Puerto Rican 1%
• Common ancestry: Lithuanian 1% Serbian 1% Dutch 1%
• Foreign-born: 22% · Canada
• Languages at home: 45% English-only · Spanish 54%

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: ▼ -181.24%
• Current HPI: 424.6051
• Rent YoY: ▲ 6.79%
• 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

+365.7% since first listed

10 events — show timeline

• 2026-06-10 Listed $1,425,000 GEMLS
• 2022-05-11 Sold (Public Records) $1,425,000 Public Records
• 2022-05-11 Sold (MLS) $1,425,000 CRMLS
• 2022-05-03 Listed $1,475,000 CRMLS
• 2022-05-02 Listing Removed — CRMLS
• 2022-04-21 Relisted — CRMLS
• 2022-03-15 Contingent — CRMLS
• 2022-02-23 Price Changed $1,475,000 CRMLS
• 2022-02-01 Listed $1,275,000 CRMLS
• 2015-10-02 Sold (Public Records) $306,000 Public Records

Property tax history

+12.1%/yr

Latest (2025): $11,126 · +2.2% YoY. Source: county tax records.