16025 L St · Mojave, CA 93501

$399,000

None bd · None ba · 3,264 sqft · MultiFamily · 35 Days on market

Built 1987 7,405 sqft 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 +22.6/30.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• 1% rule +5.9/10.0
• Appreciation +5.7/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Great Investment Opportunity! 4-Plex in the City of Mojave. Close to space port. All 2 bedroom and 1 bathroom units. All of the units are currently rented. Rents range from $595 to $675. No garages or Carports . 8 parking spaces. Close to shopping and bus stop. All offers subject to interior inspection.

Key facts

• 7,405 sq ft lot
• Built 1987
• Listed 35 days

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $399k.

Deal economics

• At list price, monthly cash flow is $556 ($7k/yr) — positive. Per door: $139/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $399k).
• Recommended offer: $387k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 3.7% in Mojave — 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 55/100 on livability (#873 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+, commute A-; Watch: crime C-, schools F, amenities F.
• Mojave Unified (town): math 25% / reading 25% proficiency, ranked #411 of 517 in CA (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 278 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 $8k of equity ($3k loan paydown + $5k appreciation (1.3% local appreciation)).
• Kern County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (1.3% appreciation + 3.0% rent growth), your $112k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($387k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y ago; this cycle's ask has dropped $26k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $122/mo.
• Climate carrying-cost: in FEMA flood zone AO (mandatory federal flood insurance); extreme-heat days projected 6→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $387,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.09% ✓
• Cap rate: 8.33%
• Cash-on-cash: 7.29%
• DSCR: 1.32
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.33% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.5%
• Equity multiple: 1.44×
• Total profit: $49,415
• Equity at exit: $143,020

10-year hold

• IRR: 12.3%
• Equity multiple: 2.54×
• Total profit: $172,117
• Equity at exit: $195,440

Cash invested: $111,720 (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 93501

• Home prices YoY: 0.2%
• Active inventory: 278
• Price-to-rent: 30.6×

Monthly cashflow live

• Estimated rent: $4,349 high
• Mortgage (P&I): −$2,092
• Tax est. 1.5%: −$499 /mo · $5,985/yr
• Insurance: −$166
• Flood insurance flood zone: −$122 /mo · $1,468/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$913
• Net cashflow: $556

Break-even live

Break-even rent $3,645

Max offer price $399,000

Occupancy floor 82%

Sensitivity live

Price	-10% $832	-5% $694	+0% $556	+5% $418	+10% $280
Rent	-10% $212	-5% $384	+0% $556	+5% $728	+10% $900
Rate	-1.0pp $757	-0.5pp $658	base $556	+0.5pp $453	+1.0pp $347

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$4,348
Total (4 units)			$4,349

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2021-11-19
   historical 305-char remark

   Show marketing remark (305 chars)

   Great Investment Opportunity! 4-Plex in the City of Mojave. Close to space port. All 2 bedroom and 1 bathroom units. All of the units are currently rented. Rents range from $595 to $675. No garages or Carports . 8 parking spaces. Close to shopping and bus stop. All offers subject to interior inspection.

2. 2021-11-19
   soldstatus $399,000 Closed 305-char remark

   Show marketing remark (305 chars)

   Great Investment Opportunity! 4-Plex in the City of Mojave. Close to space port. All 2 bedroom and 1 bathroom units. All of the units are currently rented. Rents range from $595 to $675. No garages or Carports . 8 parking spaces. Close to shopping and bus stop. All offers subject to interior inspection.

3. 2021-09-08
   status Pending
4. 2021-08-24
   price $399,000

   Show marketing remark (305 chars)

   Great Investment Opportunity! 4-Plex in the City of Mojave. Close to space port. All 2 bedroom and 1 bathroom units. All of the units are currently rented. Rents range from $595 to $675. No garages or Carports . 8 parking spaces. Close to shopping and bus stop. All offers subject to interior inspection.

5. 2021-08-24
   price $399,000 305-char remark

   Show marketing remark (305 chars)

   Great Investment Opportunity! 4-Plex in the City of Mojave. Close to space port. All 2 bedroom and 1 bathroom units. All of the units are currently rented. Rents range from $595 to $675. No garages or Carports . 8 parking spaces. Close to shopping and bus stop. All offers subject to interior inspection.

6. 2021-08-04
   listed $425,000 Active 305-char remark

   Show marketing remark (305 chars)

   Great Investment Opportunity! 4-Plex in the City of Mojave. Close to space port. All 2 bedroom and 1 bathroom units. All of the units are currently rented. Rents range from $595 to $675. No garages or Carports . 8 parking spaces. Close to shopping and bus stop. All offers subject to interior inspection.

7. 2021-08-04
   listed $425,000 Active

   Show marketing remark (305 chars)

   Great Investment Opportunity! 4-Plex in the City of Mojave. Close to space port. All 2 bedroom and 1 bathroom units. All of the units are currently rented. Rents range from $595 to $675. No garages or Carports . 8 parking spaces. Close to shopping and bus stop. All offers subject to interior inspection.

8. 2009-03-06
   historical
9. 2007-05-23
   listed $354,900

ⓘ 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 AO · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 6 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 17 unhealthy d/yr today · 19 by 30 yrs out

Taxation est. · year 1

• Rental income: $52,188
• − Mortgage interest: −$22,350
• − Property taxes: −$5,985
• − Insurance: −$3,462
• − Repairs & maintenance: −$4,175
• − Management: −$4,175
• − Depreciation: −$11,607
• Taxable income: $433
• Est. tax owed @ 24.0%: −$104
• After-tax cash flow: $6,568/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: Mojave Unified
• NCES district ID: 0625230
• Math proficiency: 25% ▲ 11.00%
• Reading proficiency: 25% ▼ -1.00%
• Median HH income: $43,017
• Composite: 21.4/100
• National rank: #8350
• State rank: #411 of 517 in CA

Livability — Mojave

• Score: 55/100
• State rank: #873
• US rank: #23667

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mojave, CA
• City population: 5,944
• Population (ZIP): 5,944

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 0.66)
• Race & ethnicity: Hispanic / Latino 47% White 26% Black 21% Two or more races 18% Asian 1%
• Hispanic origin (detail): Mexican 41%
• Common ancestry: Slovak 4% Lithuanian 2% Serbian 1%
• Foreign-born: 13% · Canada, Vietnam
• Languages at home: 70% English-only · Spanish 28%

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: ▲ 1.33%
• Current HPI: 595.661
• 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

+12.4% since first listed

9 events — show timeline

• 2021-11-19 Listing Removed — AVMLS
• 2021-11-19 Sold (MLS) $399,000 AVMLS
• 2021-09-08 Pending — GEMLS
• 2021-08-24 Price Changed $399,000 GEMLS
• 2021-08-24 Price Changed $399,000 AVMLS
• 2021-08-04 Listed $425,000 GEMLS
• 2021-08-04 Listed $425,000 AVMLS
• 2009-03-06 Listing Removed — CRMLS
• 2007-05-23 Listed $354,900 CRMLS