2709 Peerless Ave · Oildale, CA 93308

$249,990

4 bd · 2.0 ba · 1,784 sqft · SingleFamily public records · 42 Days on market

Built 1956 6,098 sqft lot $140/sqft · 26% below area Est $339k · 26% under ↓ 21% since listing

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +9.1/30.0
• 1% rule +3.3/10.0
• Rent growth +3.1/5.0
• Livability +2.9/5.0
• Appreciation +2.7/10.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Listing remarks MLS

Unlock the potential of this value-packed property located at 2709 Peerless Ave. This home presents a fantastic opportunity for investors, flippers, or buyers looking to add to their rental portfolio. With solid bones and a functional layout, this property is ready for your vision and upgrades to maximize its full potential. Situated on a spacious lot, the home offers ample room for expansion, outdoor enhancements, or additional income-producing possibilities. Conveniently located near schools, shopping, and major transportation routes, making it attractive for future tenants or resale. Whether you're looking for your next fix-and-flip project or a long-term cash-flow investment, this property is priced to move and full of upside. Don't miss this chance to capitalize on a high-potential Bakersfield investment!

Key facts

• Outdoor enhancements
• Spacious lot
• Functional layout

Tags

• SPACIOUS LOT
• FUNCTIONAL LAYOUT
• OUTDOOR ENHANCEMENTS
• INCOME-PRODUCING POSSIBILITIES
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $-190 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $216k (13.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $209k (16.6% below list).
• Recommended offer: $209k (16.6% below list) — sets the bar for 1% rule.
• Cap rate 5.4% 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+; 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.
• Zoned schools: Highland Elementary (729 students, 84% FRL); Standard Middle (991 students, 88% FRL); North High (reading 75%, 2,214 students, 87% FRL) — zoned schools average 86% FRL vs 66% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.2%/yr); 313 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 3,244 units permitted in Kern County in 2024 (73 in 5+ unit buildings).
• This rent runs 40% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 2 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

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate 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 $208,502 (16.6% below list)

Questions for the listing agent

1. 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?
2. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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 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: 0.83% ✗
• Cap rate: 5.38%
• Cash-on-cash: -3.26%
• DSCR: 0.85
• GRM: 10.0

CMA / ARV

• ARV (median comp): $338,803
• List price: $249,990
• Delta: -26.21%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
245 Sherman Peak Dr	0.19mi	4/2.0	1,737 (-3%)	1mo	$375,000	$216	86
505 Orchid Dr	0.58mi	4/2.0	1,721 (-4%)	1mo	$365,000	$212	66
507 Meadow Grove Ct	0.59mi	4/2.0	1,724 (-3%)	2mo	$425,000	$247	65
401 Pilot Ave	0.44mi	3/2.0 (-1)	1,696 (-5%)	3mo	$250,000	$147	64
3500 Timberline St	0.48mi	3/2.0 (-1)	1,617 (-9%)	2mo	$400,000	$247	55
3512 Timberline St	0.52mi	4/2.0	1,582 (-11%)	4mo	$360,000	$228	54
913 Elizabeth Ct	0.54mi	4/2.5	2,008 (+13%)	2mo	$340,000	$169	50
444 Rian Noelle Ct	0.66mi	3/3.0 (-1)	1,906 (+7%)	1mo	$430,000	$226	48
305 Borman Ave	0.48mi	3/2.0 (-1)	1,523 (-15%)	0mo	$365,000	$240	48
608 Orchid Dr	0.67mi	3/2.0 (-1)	1,624 (-9%)	3mo	$390,000	$240	46
2104 Watson St	0.51mi	3/2.0 (-1)	1,528 (-14%)	3mo	$333,000	$218	45
331 Francis St	0.63mi	3/1.8 (-1)	1,556 (-13%)	3mo	$371,500	$239	41

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: -22.6%
• Equity multiple: 0.23×
• Total profit: $-54,142
• Equity at exit: $37,274

10-year hold

• IRR: -19.0%
• Equity multiple: 0.02×
• Total profit: $-68,895
• Equity at exit: $21,615

Cash invested: $69,997 (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: 313
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $2,085 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$422 /mo · $5,066/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $-190

Break-even live

Break-even rent $2,326

Max offer price $216,407

Occupancy floor —

Sensitivity live

Price	-10% $-49	-5% $-119	+0% $-190	+5% $-261	+10% $-332
Rent	-10% $-355	-5% $-272	+0% $-190	+5% $-108	+10% $-25
Rate	-1.0pp $-64	-0.5pp $-127	base $-190	+0.5pp $-255	+1.0pp $-321

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: $62,498
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2413 Ashby St Unit 1 Bakersfield, CA	3.0	1.0	1230	$1,750	$1.42	16d	1	0.38mi
208 Electra Ave Bakersfield, CA	3.0	2.0	1614	$2,000	$1.24	45d	1	0.42mi
2001 Bedford Way Bakersfield, CA	4.0	2.0	1500	$2,500	$1.67	5d	1	0.46mi
408 Brite Meadow Ct Bakersfield, CA	5.0	3.0	2486	$2,795	$1.12	25d	1	0.69mi
524 Sunset Meadow Ln Bakersfield, CA	4.0	2.0	1346	$2,150	$1.60	4d	1	0.76mi
2609 Violet Ct Bakersfield, CA	3.0	2.0	1471	$2,100	$1.43	45d	1	0.78mi
706 Orchid Dr Apt A Bakersfield, CA	3.0	2.0	1233	$1,900	$1.54	4d	1	0.87mi
709 Francis St Bakersfield, CA	3.0	1.0	1300	$1,400	$1.08	45d	1	1.14mi

Listing history 6 events

1. 2026-05-14
   status Pending 821-char remark

   Show marketing remark (821 chars)

   Unlock the potential of this value-packed property located at 2709 Peerless Ave. This home presents a fantastic opportunity for investors, flippers, or buyers looking to add to their rental portfolio. With solid bones and a functional layout, this property is ready for your vision and upgrades to maximize its full potential. Situated on a spacious lot, the home offers ample room for expansion, outdoor enhancements, or additional income-producing possibilities. Conveniently located near schools, shopping, and major transportation routes, making it attractive for future tenants or resale. Whether you're looking for your next fix-and-flip project or a long-term cash-flow investment, this property is priced to move and full of upside. Don't miss this chance to capitalize on a high-potential Bakersfield investment!

2. 2026-04-02
   listed $249,990 Active 821-char remark

   Show marketing remark (821 chars)

   Unlock the potential of this value-packed property located at 2709 Peerless Ave. This home presents a fantastic opportunity for investors, flippers, or buyers looking to add to their rental portfolio. With solid bones and a functional layout, this property is ready for your vision and upgrades to maximize its full potential. Situated on a spacious lot, the home offers ample room for expansion, outdoor enhancements, or additional income-producing possibilities. Conveniently located near schools, shopping, and major transportation routes, making it attractive for future tenants or resale. Whether you're looking for your next fix-and-flip project or a long-term cash-flow investment, this property is priced to move and full of upside. Don't miss this chance to capitalize on a high-potential Bakersfield investment!

3. 2022-06-10
   soldstatus $315,000 Sold 661-char remark

   Show marketing remark (661 chars)

   North Bakersfield! Step right up, come on in- If you'd like to take the grand tour of a One Owner Home'' awaiting the next buyer! A jewel of home- good bones and a great floor plan! Home features 4 bedrooms (One bedroom is massive in sized) 2 bath home. Home has new interior paint throughout, new Flooring, New Drain line installed recently, New Pex Plumbing, and Roof Cert on File. A great porch to sit and make new memories, great yard for gatherings. Come by and see this jewel for yourself. You will feel the love the previous owner of 66 years (yes that is correct -one owner, 6 decades! )- you can be owner #2. Located next to Shopping and restaurants!

4. 2022-06-10
   soldstatus $315,000

   Show marketing remark (661 chars)

   North Bakersfield! Step right up, come on in- If you'd like to take the grand tour of a One Owner Home'' awaiting the next buyer! A jewel of home- good bones and a great floor plan! Home features 4 bedrooms (One bedroom is massive in sized) 2 bath home. Home has new interior paint throughout, new Flooring, New Drain line installed recently, New Pex Plumbing, and Roof Cert on File. A great porch to sit and make new memories, great yard for gatherings. Come by and see this jewel for yourself. You will feel the love the previous owner of 66 years (yes that is correct -one owner, 6 decades! )- you can be owner #2. Located next to Shopping and restaurants!

5. 2022-05-14
   status Pending 661-char remark

   Show marketing remark (661 chars)

   North Bakersfield! Step right up, come on in- If you'd like to take the grand tour of a One Owner Home'' awaiting the next buyer! A jewel of home- good bones and a great floor plan! Home features 4 bedrooms (One bedroom is massive in sized) 2 bath home. Home has new interior paint throughout, new Flooring, New Drain line installed recently, New Pex Plumbing, and Roof Cert on File. A great porch to sit and make new memories, great yard for gatherings. Come by and see this jewel for yourself. You will feel the love the previous owner of 66 years (yes that is correct -one owner, 6 decades! )- you can be owner #2. Located next to Shopping and restaurants!

6. 2022-04-25
   listed $315,000 Active 661-char remark

   Show marketing remark (661 chars)

   North Bakersfield! Step right up, come on in- If you'd like to take the grand tour of a One Owner Home'' awaiting the next buyer! A jewel of home- good bones and a great floor plan! Home features 4 bedrooms (One bedroom is massive in sized) 2 bath home. Home has new interior paint throughout, new Flooring, New Drain line installed recently, New Pex Plumbing, and Roof Cert on File. A great porch to sit and make new memories, great yard for gatherings. Come by and see this jewel for yourself. You will feel the love the previous owner of 66 years (yes that is correct -one owner, 6 decades! )- you can be owner #2. Located next to Shopping and restaurants!

ⓘ 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: $5,066 · $422/mo
• Projected year-2 tax: $5,066 · $422/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 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 39 unhealthy d/yr today · 45 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,020
• − Mortgage interest: −$14,003
• − Property taxes: −$5,066
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,002
• − Management: −$2,002
• − Depreciation: −$7,272
• Taxable loss: −$6,574
• Est. tax savings @ 24.0%: +$1,578
• After-tax cash flow: $-703/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: 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

-20.6% since first listed

6 events — show timeline

• 2026-05-14 Pending — AVMLS
• 2026-04-02 Listed $249,990 AVMLS
• 2022-06-10 Sold (Public Records) $315,000 Public Records
• 2022-06-10 Sold (MLS) $315,000 GEMLS
• 2022-05-14 Pending — GEMLS
• 2022-04-25 Listed $315,000 GEMLS

Property tax history

+13.7%/yr

Latest (2025): $5,066 · +2.5% YoY. Source: county tax records.