1210 Oregon St · Bakersfield, CA 93305

$449,999

16 bd · 16.0 ba · 2,046 sqft · MultiFamily · 31 Days on market

Built 1954 Fair condition 7,405 sqft lot $220/sqft · 35% above area Est $332k · 35% over

---

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).

• Cash flow +17.8/30.0
• DSCR +5.6/10.0
• 1% rule +4.8/10.0
• Rent growth +4.2/5.0
• Schools +3.4/10.0
• Livability +2.9/5.0
• Condition / age +2.2/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

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

Price just reduced $11,000! Truly a great deal on a fourplex. And you're avoiding REO's and short sales! All new floors, new water heaters, new stoves, new sewer line from alley to building. Some new cabinets, #B has new furnace. New automatic sprinkler system installed. Community laundry room. Newer roof.

Key facts

• Fresh paint
• New flooring
• Fully renovated unit

Tags

• FOUR UNIT MULTIFAMILY PROPERTY
• STRONG VALUE ADD POTENTIAL
• FULLY RENOVATED UNIT
• NEW FLOORING
• FRESH PAINT
• RECENTLY REPLACED WATER HEATER

Property features AI

Finance

• Other: Price per unit: $112,499.75
• Financial info: Four-unit property (owner-occupied as financial owner type); Annual gross income: $44,000; Annual net income: $28,805; Total annual expenses: $13,831; Actual monthly rent per unit listed as $935; Annual property operating data available; Income/expense information provided as pro forma; Vacancy factor: 5%

Exterior

• Parking: 4 parking spaces
• Utilities: Public water; Sewer
• Home design: Single-story multifamily building
• Construction: Composition roof; Slab foundation
• Exterior features: Property sits on approximately 0.17 acres; Zoned R3

Interior

• Kitchen: Kitchens in each unit (standard appliances not specified)
• Bedrooms: Four 1-bedroom units
• Bathrooms: Four 1-bath units
• Heating & cooling: Evaporative cooling
• Interior features: All units are tenant occupied
• Laundry & utility: Laundry hookup

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/1-bath units multifamily listed at $450k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $368 ($4k/yr) — positive. Per door: $92/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 $440k (2.2% below list).
• Recommended offer: $436k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 3.6% in Bakersfield — 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 (#716 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: health & safety D, schools D-, crime F.
• 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 $4,402/mo this rent would consume 122% 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 $3k of loan paydown is wiped out by about $14k 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 31 days — a 3% lower offer ($436k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 21y 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.
• Current owner paid $78k; list at $450k implies a 477% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• 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 $436,499 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.98% ✗
• Cap rate: 7.27%
• Cash-on-cash: 3.50%
• DSCR: 1.16
• GRM: 8.5

CMA / ARV

• ARV (median comp): $332,361
• List price: $449,999
• Delta: 35.39%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -6.6%
• Equity multiple: 0.75×
• Total profit: $-32,006
• Equity at exit: $67,096

10-year hold

• IRR: 7.2%
• Equity multiple: 1.63×
• Total profit: $79,872
• Equity at exit: $38,908

Cash invested: $126,000 (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: 34.1×

Monthly cashflow live

• Estimated rent: $4,402 high
• Mortgage (P&I): −$2,360
• Tax est. 1.5%: −$562 /mo · $6,750/yr
• Insurance: −$187
• HOA: −$0
• Vacancy / Maint / Mgmt: −$924
• Net cashflow: $368

Break-even live

Break-even rent $3,937

Max offer price $449,999

Occupancy floor 87%

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$4,400
Total (4 units)			$4,402

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-02
   status $449,999 Pending 31 DOM
2. 2026-06-01
   days on market $449,999 Active 31 DOM
3. 2026-05-31
   days on market $449,999 Active 30 DOM
4. 2026-05-01
   listed $449,999 Active 992-char remark
5. 2024-01-20
   historical $750
6. 2023-11-29
   listed $750
7. 2023-10-06
   historical $750
8. 2023-09-01
   listed $750
9. 2010-12-27
   soldstatus $78,000 307-char remark

   Show marketing remark (307 chars)

   Price just reduced $11,000! Truly a great deal on a fourplex. And you're avoiding REO's and short sales! All new floors, new water heaters, new stoves, new sewer line from alley to building. Some new cabinets, #B has new furnace. New automatic sprinkler system installed. Community laundry room. Newer roof.

10. 2010-12-17
    historical 307-char remark

    Show marketing remark (307 chars)

    Price just reduced $11,000! Truly a great deal on a fourplex. And you're avoiding REO's and short sales! All new floors, new water heaters, new stoves, new sewer line from alley to building. Some new cabinets, #B has new furnace. New automatic sprinkler system installed. Community laundry room. Newer roof.

11. 2010-12-17
    price $99,000 307-char remark

    Show marketing remark (307 chars)

    Price just reduced $11,000! Truly a great deal on a fourplex. And you're avoiding REO's and short sales! All new floors, new water heaters, new stoves, new sewer line from alley to building. Some new cabinets, #B has new furnace. New automatic sprinkler system installed. Community laundry room. Newer roof.

12. 2010-05-25
    listed $78,000 307-char remark

    Show marketing remark (307 chars)

    Price just reduced $11,000! Truly a great deal on a fourplex. And you're avoiding REO's and short sales! All new floors, new water heaters, new stoves, new sewer line from alley to building. Some new cabinets, #B has new furnace. New automatic sprinkler system installed. Community laundry room. Newer roof.

13. 2009-07-23
    price $56,925

    Show marketing remark (173 chars)

    Attention Investors! Do not miss out on this great opportunity to purchase a fourplex! Each unit features one bedroom, living room, and one bathroom. Come take a look today!

14. 2009-07-15
    soldstatus $70,000

    Show marketing remark (173 chars)

    Attention Investors! Do not miss out on this great opportunity to purchase a fourplex! Each unit features one bedroom, living room, and one bathroom. Come take a look today!

15. 2009-07-06
    historical

    Show marketing remark (173 chars)

    Attention Investors! Do not miss out on this great opportunity to purchase a fourplex! Each unit features one bedroom, living room, and one bathroom. Come take a look today!

16. 2009-06-08
    listed $70,000

    Show marketing remark (173 chars)

    Attention Investors! Do not miss out on this great opportunity to purchase a fourplex! Each unit features one bedroom, living room, and one bathroom. Come take a look today!

17. 2005-08-24
    price $339,900
18. 2005-06-30
    historical
19. 2005-06-15
    listed $345,000

ⓘ 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 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: $52,824
• − Mortgage interest: −$25,207
• − Property taxes: −$6,750
• − Insurance: −$2,250
• − Repairs & maintenance: −$4,226
• − Management: −$4,226
• − Depreciation: −$13,091
• Taxable loss: −$2,926
• Est. tax savings @ 24.0%: +$702
• After-tax cash flow: $5,115/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 · 13 photos

Fair 45/100 Moderate rehab

This four-unit multifamily property requires extensive repairs and maintenance, including a new roof, exterior siding, flooring, interior walls, and HVAC systems. While the property has potential, the current condition is fair and would benefit from significant investment to improve its value.

Repairs flagged

• Major roof — The roof appears to be in poor condition, with visible wear and tear.
• Major exterior siding — The exterior siding and paint show significant wear and tear, with peeling paint and discoloration.
• Major flooring — The flooring in the common areas appears to be in poor condition, with visible wear and tear.
• Major interior walls — The interior walls show signs of wear and tear, with some discoloration and potential damage.
• Major HVAC and mechanical systems — The HVAC and mechanical systems appear to be in poor condition, with visible signs of wear and tear.

Value-add opportunities

• Both repair and replace roof — A new roof will improve the overall condition of the property and increase its value.
• Both repair and paint exterior siding — A fresh coat of paint will improve the curb appeal and increase the property's value.
• Both repair and replace flooring — New flooring will improve the condition of the common areas and increase the property's value.
• Both repair and paint interior walls — Fresh paint will improve the condition of the interior walls and increase the property's value.
• Both repair and replace HVAC and mechanical systems — Upgrading the HVAC and mechanical systems will improve the property's condition and increase its value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The roof appears to be in poor condition, with visible wear and tear.	Major	$15,000–50,000
exterior siding · The exterior siding and paint show significant wear and tear, with peeling paint and discoloration.	Major	$15,000–50,000
flooring · The flooring in the common areas appears to be in poor condition, with visible wear and tear.	Major	$15,000–50,000
interior walls · The interior walls show signs of wear and tear, with some discoloration and potential damage.	Major	$15,000–50,000
HVAC and mechanical systems · The HVAC and mechanical systems appear to be in poor condition, with visible signs of wear and tear.	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both repair and replace roof — A new roof will improve the overall condition of the property and increase its value. ↑
• Both repair and paint exterior siding — A fresh coat of paint will improve the curb appeal and increase the property's value. ↑
• Both repair and replace flooring — New flooring will improve the condition of the common areas and increase the property's value. ↑
• Both repair and paint interior walls — Fresh paint will improve the condition of the interior walls and increase the property's value. ↑
• Both repair and replace HVAC and mechanical systems — Upgrading the HVAC and mechanical systems will improve the property's condition and increase its value. ↑

ⓘ 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: 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 — Bakersfield

• Score: 58/100
• State rank: #716
• US rank: #21355

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bakersfield, CA
• County: Kern County · 710,371 people
• City population: 499,124
• 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

+30.4% since first listed

17 events — show timeline

• 2026-06-01 Pending — GEMLS
• 2026-05-01 Listed $449,999 GEMLS
• 2024-01-20 Rental Removed $750 APPFOLIO
• 2023-11-29 Listed for Rent $750 APPFOLIO
• 2023-10-06 Rental Removed $750 APPFOLIO
• 2023-09-01 Listed for Rent $750 APPFOLIO
• 2010-12-27 Sold (MLS) $78,000 GEMLS
• 2010-12-17 Price Changed $99,000 GEMLS
• 2010-12-17 Delisted — GEMLS
• 2010-05-25 Listed $78,000 GEMLS
• 2009-07-23 Price Changed $56,925 GEMLS
• 2009-07-15 Sold (MLS) $70,000 GEMLS
• 2009-07-06 Delisted — GEMLS
• 2009-06-08 Listed $70,000 GEMLS
• 2005-08-24 Price Changed $339,900 GEMLS
• 2005-06-30 Delisted — GEMLS
• 2005-06-15 Listed $345,000 GEMLS