388 Petrol Rd · Oildale, CA 93308

$45,000

2 bd · 1.0 ba · 624 sqft · Manufactured · 30 Days on market

Built 1964 ↓ 10% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +3.1/5.0
• Livability +2.9/5.0
• Appreciation +2.7/10.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Listing remarks MLS

Single-wide mobile home for sale featuring an updated bathroom, updated flooring, newer windows, and a spacious living room and kitchen. Call your favorite Realtor today to schedule a showing

Key facts

• Spacious kitchen
• Newer windows
• Updated flooring

Tags

• UPDATED BATHROOM
• UPDATED FLOORING
• NEWER WINDOWS
• SPACIOUS LIVING ROOM
• SPACIOUS KITCHEN

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $45k.

Deal economics

• At list price, monthly cash flow is $801 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $44k (1.5% below list) — sets the bar for market timing.
• Cap rate 27.6% 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+, schools B+; 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.
• Market conditions: Rents rising (+2.2%/yr); 307 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 3,244 units permitted in Kern County in 2024 (73 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k 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 + 2.2% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($44k) 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.
• Current owner paid $30k; list at $45k implies a 50% gain — meaningful room to come down on a strong offer.

Recommended offer $44,325 (1.5% below list)

Questions for the listing agent

1. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 3.00% ✓
• Cap rate: 27.64%
• Cash-on-cash: 76.24%
• DSCR: 4.39
• GRM: 2.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.22% rent growth · sell at horizon

5-year hold

• IRR: 75.3%
• Equity multiple: 4.38×
• Total profit: $42,636
• Equity at exit: $6,710

10-year hold

• IRR: 78.8%
• Equity multiple: 8.82×
• Total profit: $98,504
• Equity at exit: $3,891

Cash invested: $12,600 (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: 307
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,349 medium
• Mortgage (P&I): −$236
• Tax from tax record: −$10 /mo · $122/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $801

Break-even live

Break-even rent $335

Max offer price $45,000

Occupancy floor 36%

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
435 Woodlands Meadow Ct Unit B Bakersfield, CA	1.0	1.0	445	$1,500	$3.37	3d	1	0.59mi
3518 N Chester Ave Unit 6 Bakersfield, CA	1.0	1.0	542	$995	$1.84	44d	1	0.84mi
3125 Park Meadows Dr Unit B Bakersfield, CA	1.0	1.0	718	$1,495	$2.08	44d	1	1.09mi
2600 Park Meadows Dr Bakersfield, CA	1.0–2.0	1.0–2.0	864	$1,495	$1.73	3d	2	1.41mi

Listing history 22 events

1. 2026-06-18
   days on market $45,000 Active 30 DOM
2. 2026-06-17
   days on market $45,000 Active 29 DOM
3. 2026-06-16
   days on market $45,000 Active 28 DOM
4. 2026-06-15
   days on market $45,000 Active 27 DOM
5. 2026-06-14
   days on market $45,000 Active 25 DOM
6. 2026-06-10
   days on market $45,000 Active 22 DOM
7. 2026-06-09
   days on market $45,000 Active 21 DOM
8. 2026-06-08
   days on market $45,000 Active 20 DOM
9. 2026-06-07
   days on market $45,000 Active 19 DOM
10. 2026-06-05
    days on market $45,000 Active 16 DOM
11. 2026-06-03
    days on market $45,000 Active 15 DOM
12. 2026-06-03
    days on market $45,000 Active 14 DOM
13. 2026-06-01
    days on market $45,000 Active 13 DOM
14. 2026-05-31
    days on market $45,000 Active 12 DOM
15. 2026-05-19
    listed $45,000 Active 191-char remark

    Show marketing remark (191 chars)

    Single-wide mobile home for sale featuring an updated bathroom, updated flooring, newer windows, and a spacious living room and kitchen. Call your favorite Realtor today to schedule a showing

16. 2023-02-21
    soldstatus $30,000 Sold 263-char remark

    Show marketing remark (263 chars)

    Great opportunity for someone looking for a cozy place to call home! This cozy layout is perfect for a first time home buyer. You have your own covered porch along with a covered carport with plenty of parking. Call your favorite agent and schedule your showing!!

17. 2023-01-21
    status Pending 263-char remark

    Show marketing remark (263 chars)

    Great opportunity for someone looking for a cozy place to call home! This cozy layout is perfect for a first time home buyer. You have your own covered porch along with a covered carport with plenty of parking. Call your favorite agent and schedule your showing!!

18. 2022-12-26
    price $30,000 263-char remark

    Show marketing remark (263 chars)

    Great opportunity for someone looking for a cozy place to call home! This cozy layout is perfect for a first time home buyer. You have your own covered porch along with a covered carport with plenty of parking. Call your favorite agent and schedule your showing!!

19. 2022-11-28
    price $35,000 263-char remark

    Show marketing remark (263 chars)

    Great opportunity for someone looking for a cozy place to call home! This cozy layout is perfect for a first time home buyer. You have your own covered porch along with a covered carport with plenty of parking. Call your favorite agent and schedule your showing!!

20. 2022-11-08
    price $40,000 263-char remark

    Show marketing remark (263 chars)

    Great opportunity for someone looking for a cozy place to call home! This cozy layout is perfect for a first time home buyer. You have your own covered porch along with a covered carport with plenty of parking. Call your favorite agent and schedule your showing!!

21. 2022-11-01
    price $45,000 263-char remark

    Show marketing remark (263 chars)

    Great opportunity for someone looking for a cozy place to call home! This cozy layout is perfect for a first time home buyer. You have your own covered porch along with a covered carport with plenty of parking. Call your favorite agent and schedule your showing!!

22. 2022-10-14
    listed $50,000 Active 263-char remark

    Show marketing remark (263 chars)

    Great opportunity for someone looking for a cozy place to call home! This cozy layout is perfect for a first time home buyer. You have your own covered porch along with a covered carport with plenty of parking. Call your favorite agent and schedule your showing!!

ⓘ 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: $122 · $10/mo
• Projected year-2 tax: $342 · $28/mo
• Expected delta: +$220/yr (+$18/mo · 179.9%)

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

Taxation est. · year 1

• Rental income: $16,184
• − Mortgage interest: −$2,521
• − Property taxes: −$122
• − Insurance: −$225
• − Repairs & maintenance: −$1,295
• − Management: −$1,295
• − Depreciation: −$1,309
• Taxable income: $9,418
• Est. tax owed @ 24.0%: −$2,260
• After-tax cash flow: $7,346/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

-10.0% since first listed

8 events — show timeline

• 2026-05-19 Listed $45,000 GEMLS
• 2023-02-21 Sold (MLS) $30,000 GEMLS
• 2023-01-21 Pending — GEMLS
• 2022-12-26 Price Changed $30,000 GEMLS
• 2022-11-28 Price Changed $35,000 GEMLS
• 2022-11-08 Price Changed $40,000 GEMLS
• 2022-11-01 Price Changed $45,000 GEMLS
• 2022-10-14 Listed $50,000 GEMLS

Property tax history

-6.6%/yr

Latest (2025): $122 · +6.5% YoY. Source: county tax records.