2701 Audrey Ave · Lake Isabella, CA 93240

$189,900

2 bd · 2.0 ba · 1,742 sqft · SingleFamily public records · 101 Days on market

Built 1973 7,841 sqft lot $109/sqft · 12% below area Est $216k · 12% under

---

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 +16.9/30.0
• ARV discount +12.9/15.0
• Appreciation +7.8/10.0
• DSCR +5.3/10.0
• 1% rule +3.8/10.0
• Schools +2.6/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Spacious home situated on a large lot offering 2 bedrooms, 2 bathrooms, and approximately 1,742 sq ft of living space. The property features generously sized bedrooms and plenty of room for entertaining both inside and out. With its spacious layout and large lot, this home offers great potential for customization and improvements. An excellent opportunity for buyers utilizing a 203(k) loan or those looking to renovate and add their personal touch.

Key facts

• 7,841 sq ft lot
• 2 garage spots
• Built 1973

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $127 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $168k (11.5% below list).
• Recommended offer: $168k (11.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 52/100 on livability (#999 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A, cost of living B+; Watch: crime C-, schools F, amenities F.
• Kernville Union Elementary (rural): math 20% / reading 37% proficiency, ranked #1,128 of 1,400 in CA (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 135 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 $12k of equity ($1k loan paydown + $11k appreciation (5.5% local appreciation)).
• Kern County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (5.5% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($173k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $85k; list at $190k implies a 123% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 10→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $168,061 (11.5% below list)

Questions for the listing agent

1. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.88% ✗
• Cap rate: 7.09%
• Cash-on-cash: 2.86%
• DSCR: 1.13
• GRM: 9.4

CMA / ARV

• ARV (median comp): $215,655
• List price: $189,900
• Delta: -11.94%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2829 Alta Sierra Ave	0.23mi	2/2.0	1,524 (-12%)	0mo	$265,000	$174	68
2840 Pinon St	0.03mi	3/2.0 (+1)	1,520 (-13%)	15mo	$195,000	$128	60
2729 Audrey Ave	0.08mi	3/2.0 (+1)	1,584 (-9%)	22mo	$225,000	$142	58
6942 Hungry Gulch Rd	0.22mi	2/2.0	1,894 (+9%)	22mo	$225,000	$119	56
2605 Crestview Ave	0.33mi	3/2.0 (+1)	1,548 (-11%)	16mo	$235,000	$152	48
2112 Pecos Ave	0.63mi	3/2.0 (+1)	1,540 (-12%)	2mo	$215,000	$140	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

5.55% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.6%
• Equity multiple: 2.09×
• Total profit: $57,810
• Equity at exit: $114,023

10-year hold

• IRR: 16.7%
• Equity multiple: 4.11×
• Total profit: $165,118
• Equity at exit: $202,303

Cash invested: $53,172 (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 93240

• Home prices YoY: 1.6%
• Active inventory: 135
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,681 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$126 /mo · $1,514/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $127

Break-even live

Break-even rent $1,520

Max offer price $189,900

Occupancy floor 87%

Sensitivity live

Price	-10% $234	-5% $180	+0% $127	+5% $73	+10% $19
Rent	-10% $-6	-5% $60	+0% $127	+5% $193	+10% $259
Rate	-1.0pp $222	-0.5pp $175	base $127	+0.5pp $77	+1.0pp $27

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $189,900 Active 101 DOM
2. 2026-06-18
   days on market $189,900 Active 98 DOM
3. 2026-06-17
   days on market $189,900 Active 97 DOM
4. 2026-06-16
   days on market $189,900 Active 96 DOM
5. 2026-06-15
   days on market $189,900 Active 95 DOM
6. 2026-06-14
   days on market $189,900 Active 93 DOM
7. 2026-06-13
   days on market $189,900 Active 92 DOM
8. 2026-06-10
   days on market $189,900 Active 90 DOM
9. 2026-06-09
   days on market $189,900 Active 89 DOM
10. 2026-06-08
    days on market $189,900 Active 88 DOM
11. 2026-06-07
    days on market $189,900 Active 87 DOM
12. 2026-06-05
    days on market $189,900 Active 84 DOM
13. 2026-06-03
    days on market $189,900 Active 83 DOM
14. 2026-06-03
    days on market $189,900 Active 82 DOM
15. 2026-06-01
    days on market $189,900 Active 81 DOM
16. 2026-05-31
    days on market $189,900 Active 80 DOM
17. 2002-07-23
    soldstatus $85,000

ⓘ 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: $1,514 · $126/mo
• Projected year-2 tax: $1,514 · $126/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 8/10 Severe
• 🌡 Heat 7/10 Severe 10 d/yr ≥94°F today · 27 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 24 unhealthy d/yr today · 30 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,167
• − Mortgage interest: −$10,637
• − Property taxes: −$1,514
• − Insurance: −$950
• − Repairs & maintenance: −$1,613
• − Management: −$1,613
• − Depreciation: −$5,524
• Taxable loss: −$1,685
• Est. tax savings @ 24.0%: +$404
• After-tax cash flow: $1,923/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: Kernville Union Elementary
• NCES district ID: 0619590
• Math proficiency: 20% ▲ 4.00%
• Reading proficiency: 37% ▲ 11.00%
• Median HH income: $29,896
• Composite: 25.91/100
• National rank: #12766
• State rank: #1128 of 1400 in CA

Livability — Lake Isabella

• Score: 52/100
• State rank: #999
• US rank: #24814

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Isabella, CA
• City population: 5,622
• Population (ZIP): 5,622

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 White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 13% Two or more races 5% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Italian 3% Portuguese 2% Iranian 2%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 93% English-only · Spanish 4% Korean 1% Other Asian/Pacific 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: ▲ 5.55%
• Current HPI: 341.2481
• 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

1 event — show timeline

• 2002-07-23 Sold (Public Records) $85,000 Public Records

Property tax history

+5.2%/yr

Latest (2025): $1,514 · +2.8% YoY. Source: county tax records.