13401 Davenport · North Edwards, CA 93523

$375,000

6 bd · 4.0 ba · 3,252 sqft · MultiFamily public records · 45 Days on market

Built 1964 9,469 sqft lot

---

Why this score? — see what drove the B 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• Appreciation +4.7/10.0
• Livability +2.7/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks MLS

Profitable multi units 2 apartments 2 beds 1 bath, 2 units 1 bed/1 bath, 4 in total. There are 2 units rented. Possible income over $4,000 monthly

Key facts

• 9,469 sq ft lot
• Built 1964
• Listed 44 days

Property features AI

Finance

• Other: Total of 4 dwelling units; Lot characterized as 0-1 unit per acre; Living area sourced from assessor

Exterior

• Utilities: Public/District water; Septic (type unknown)
• Home design: Quadruplex (attached property); Single-story (1 story); Entry level is the first floor
• Construction: Year built from assessor; 2+ common walls
• Exterior features: No pool; Rural community setting; Paved road access; Has a view

Interior

• Bedrooms: Six bedrooms on the main level
• Flooring: Concrete flooring
• Bathrooms: Four full bathrooms on the main level
• Heating & cooling: Evaporative cooling
• Interior features: One-level layout; Front and side entry locations; All bedrooms on the main level; Living room; Living room fireplace; Evaporative cooling
• Laundry & utility: No on-site laundry listed

What this means for you Summary

Snapshot

• This is a 2×1.5bd/1.0ba + 2×1.0bd/1.0ba units multifamily listed at $375k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $347/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $375k).
• Recommended offer: $364k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 53/100 on livability (#930 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+, cost of living A; Watch: employment D, schools F, crime F.
• Muroc Joint Unified (rural): math 22% / reading 39% proficiency, ranked #340 of 517 in CA (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 92 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 $41 of equity ($3k loan paydown + $-3k appreciation (-0.7% local appreciation)).
• Kern County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-0.7% appreciation + 3.0% rent growth), your $105k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($364k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 23y 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 $90k; list at $375k implies a 317% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $363,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 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. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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. 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.
10. 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.
11. 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: 1.28% ✓
• Cap rate: 11.13%
• Cash-on-cash: 17.29%
• DSCR: 1.77
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.68% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.5%
• Equity multiple: 1.62×
• Total profit: $65,546
• Equity at exit: $96,303

10-year hold

• IRR: 19.0%
• Equity multiple: 2.97×
• Total profit: $206,953
• Equity at exit: $106,141

Cash invested: $105,000 (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 93523

• Home prices YoY: -0.2%
• Active inventory: 92
• Price-to-rent: 26.0×

Monthly cashflow live

• Estimated rent: $4,800 medium
• Mortgage (P&I): −$1,967
• Tax from tax record: −$156 /mo · $1,875/yr
• Insurance: −$156
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,008
• Net cashflow: $1,388

Break-even live

Break-even rent $3,043

Max offer price $375,000

Occupancy floor 66%

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

Units	Beds	Baths	Est. rent
▸ 2× units	1.5	1	$2,400
▸ 2× units	1.0	1	$2,400
Total (4 units)			$4,800

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-06-18
   days on market $375,000 Active 45 DOM
2. 2026-06-17
   days on market $375,000 Active 44 DOM
3. 2026-06-16
   days on market $375,000 Active 43 DOM
4. 2026-06-15
   days on market $375,000 Active 42 DOM
5. 2026-06-13
   days on market $375,000 Active 40 DOM
6. 2026-06-13
   days on market $375,000 Active 39 DOM
7. 2026-06-09
   days on market $375,000 Active 36 DOM
8. 2026-06-08
   days on market $375,000 Active 35 DOM
9. 2026-06-07
   days on market $375,000 Active 34 DOM
10. 2026-06-04
    days on market $375,000 Active 31 DOM
11. 2026-06-03
    days on market $375,000 Active 30 DOM
12. 2026-06-02
    days on market $375,000 Active 29 DOM
13. 2026-06-01
    days on market $375,000 Active 28 DOM
14. 2026-05-31
    days on market $375,000 Active 27 DOM
15. 2026-05-04
    listed $375,000 Active 96-char remark
16. 2026-04-30
    listed $375,000 Active 146-char remark

    Show marketing remark (146 chars)

    Profitable multi units 2 apartments 2 beds 1 bath, 2 units 1 bed/1 bath, 4 in total. There are 2 units rented. Possible income over $4,000 monthly

17. 2024-10-30
    historical
18. 2024-09-16
    status Active
19. 2024-09-04
    status Pending Sale
20. 2024-05-03
    listed $355,000 Active
21. 2024-02-29
    historical
22. 2023-09-27
    price $355,000
23. 2023-09-27
    price $355,000
24. 2023-09-19
    listed $360,000 Active
25. 2023-07-24
    listed Active
26. 2020-09-01
    soldstatus $90,000
27. 2019-09-01
    historical
28. 2019-02-24
    listed $169,000 Active
29. 2015-03-19
    historical
30. 2003-12-02
    soldstatus $87,500
31. 2003-10-16
    listed $87,500
32. 1992-03-11
    soldstatus $100,000
33. 1988-10-10
    soldstatus $81,000

ⓘ 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: $1,875 · $156/mo
• Projected year-2 tax: $2,850 · $238/mo
• Expected delta: +$975/yr (+$81/mo · 52.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone A · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥101°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 10 unhealthy d/yr today · 13 by 30 yrs out

Taxation est. · year 1

• Rental income: $57,600
• − Mortgage interest: −$21,006
• − Property taxes: −$1,875
• − Insurance: −$3,378
• − Repairs & maintenance: −$4,608
• − Management: −$4,608
• − Depreciation: −$10,909
• Taxable income: $11,217
• Est. tax owed @ 24.0%: −$2,692
• After-tax cash flow: $13,961/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: Muroc Joint Unified
• NCES district ID: 0626490
• Math proficiency: 22% ▼ -13.00%
• Reading proficiency: 39% ▼ -9.00%
• Median HH income: $47,457
• Composite: 26.31/100
• National rank: #7241
• State rank: #340 of 517 in CA

Livability — North Edwards

• Score: 53/100
• State rank: #930
• US rank: #24267

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Edwards, CA
• Population (ZIP): 3,681

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 0.67)
• Race & ethnicity: White 54% Two or more races 22% Hispanic / Latino 13% Black 12% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2%
• Common ancestry: Italian 6% Lithuanian 3% Iranian 2%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 4% Other Asian/Pacific 1% Tagalog/Filipino 1%

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: ▼ -0.68%
• Current HPI: 354.8553
• 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

+363.0% since first listed

19 events — show timeline

• 2026-05-04 Listed $375,000 CRMLS
• 2026-04-30 Listed $375,000 AVMLS
• 2024-10-30 Listing Removed — CRMLS
• 2024-09-16 Relisted — CRMLS
• 2024-09-04 Pending — CRMLS
• 2024-05-03 Listed $355,000 CRMLS
• 2024-02-29 Listing Removed — CRMLS
• 2023-09-27 Price Changed $355,000 AVMLS
• 2023-09-27 Price Changed $355,000 CRMLS
• 2023-09-19 Listed $360,000 CRMLS
• 2023-07-24 Listed — TheMLS
• 2020-09-01 Sold (Public Records) $90,000 Public Records
• 2019-09-01 Listing Removed — AVMLS
• 2019-02-24 Listed $169,000 AVMLS
• 2015-03-19 Listing Removed — AVMLS
• 2003-12-02 Sold (Public Records) $87,500 Public Records
• 2003-10-16 Listed $87,500 AVMLS
• 1992-03-11 Sold (Public Records) $100,000 Public Records
• 1988-10-10 Sold (Public Records) $81,000 Public Records

Property tax history

+5.6%/yr

Latest (2025): $1,875 · +0.2% YoY. Source: county tax records.