511 Oildale Dr · Oildale, CA 93308

$270,000

6 bd · 2.0 ba · 1,690 sqft · MultiFamily public records · 8 Days on market

Built 2000 6,969 sqft lot Est $414k · 35% under

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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 +24.9/30.0
• ARV discount +15.0/15.0
• DSCR +8.1/10.0
• 1% rule +6.1/10.0
• Rent growth +3.1/5.0
• Livability +2.9/5.0
• Appreciation +2.7/10.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0

Multi-family units

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

Listing remarks MLS

Built in 2000 with positive cash flow.

Key facts

• Move in ready
• Strong rental income
• Conveniently located

Tags

• LIGHT FILLED KITCHENS
• AMPLE CABINET STORAGE
• WASHER AND DRYER HOOKUPS
• MOVE IN READY
• STRONG RENTAL INCOME
• CONVENIENTLY LOCATED

Property features AI

Finance

• Other: Price per unit listed at $135,000
• Financial info: Two total dwelling units; Owner-occupied (per financial info); Annual gross income approximately $25,800; Annual net income approximately $29,300; Total annual expenses approximately $3,500; Income/expense reported as pro forma; Actual monthly rents: one unit at $800, two units at $1,350 each; Vacancy factor assumed at 10%

Exterior

• Parking: Uncovered parking
• Utilities: Public water; Sewer service
• Home design: Single-story building; R2 zoning
• Construction: Composition roof; Slab foundation
• Exterior features: Uncovered parking

Interior

• Kitchen: Two dishwashers total
• Bedrooms: Two unit types each with 3 bedrooms
• Bathrooms: Units with 1 bathroom each
• Heating & cooling: Central air conditioning
• Interior features: Tenant-occupied
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1-bath units multifamily listed at $270k.

Deal economics

• At list price, monthly cash flow is $576 ($7k/yr) — positive. Per door: $288/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $270k).
• Cap rate 8.9% 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+; Watch: crime F, amenities F, commute F.
• Beardsley Elementary (suburban): math 7% / reading 18% proficiency, ranked #501 of 517 in CA (top 97%) — 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.
• Zoned schools: Beardsley Elementary (math 2% / reading 8%, grade F, #1,564 of 1,571 statewide, top 100%, 421 students, 98% FRL) — zoned schools average 98% FRL vs 76% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.2%/yr); 312 active listings in the ZIP; 3,244 units permitted in Kern County in 2024 (73 in 5+ unit buildings).
• At $2,999/mo this rent would consume 58% of the median local household income ($62k/yr) (locally 2931% 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 $2k of loan paydown is wiped out by about $8k 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

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 28y 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 $110k; list at $270k implies a 145% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $270,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 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: 1.11% ✓
• Cap rate: 8.85%
• Cash-on-cash: 9.14%
• DSCR: 1.41
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $414,050
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
119 E Warren Ave	0.64mi	5/2.0 (-1)	1,632 (-3%)	15mo	$400,000	$245	47

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

Projected returns pro-forma

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

5-year hold

• IRR: -3.3%
• Equity multiple: 0.88×
• Total profit: $-9,421
• Equity at exit: $40,258

10-year hold

• IRR: 5.5%
• Equity multiple: 1.39×
• Total profit: $29,577
• Equity at exit: $23,345

Cash invested: $75,600 (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: 312
• Price-to-rent: 15.0×

Monthly cashflow live

• Estimated rent: $2,999 high
• Mortgage (P&I): −$1,416
• Tax from tax record: −$265 /mo · $3,181/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$630
• Net cashflow: $576

Break-even live

Break-even rent $2,270

Max offer price $270,000

Occupancy floor 76%

Sensitivity live

Price	-10% $729	-5% $652	+0% $576	+5% $499	+10% $423
Rent	-10% $339	-5% $457	+0% $576	+5% $694	+10% $813
Rate	-1.0pp $712	-0.5pp $644	base $576	+0.5pp $506	+1.0pp $435

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,000
Total (2 units)			$2,999

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: $67,500
• Closing costs: $8,100
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-05-15
   status Pending
2. 2026-05-07
   listed $270,000 Active
3. 2016-01-08
   soldstatus $110,000
4. 2010-02-26
   soldstatus $55,000 38-char remark

   Show marketing remark (38 chars)

   Built in 2000 with positive cash flow.

5. 2010-02-26
   soldstatus $55,000

   Show marketing remark (38 chars)

   Built in 2000 with positive cash flow.

6. 2009-11-18
   listed $55,000 38-char remark

   Show marketing remark (38 chars)

   Built in 2000 with positive cash flow.

7. 2002-09-06
   soldstatus $92,000 290-char remark

   Show marketing remark (290 chars)

   Original structure was removed & this DX was moved onto site w/ utility & water heater rms. added. Units were completely remodeled w/ new plumbing & elect. , tile, cabinets, paint & carpet in early 2001, all done w/ permits. Prox. 1664 sq. ft. - Rents now @ $525 ea.

8. 2002-09-06
   soldstatus $92,000

   Show marketing remark (290 chars)

   Original structure was removed & this DX was moved onto site w/ utility & water heater rms. added. Units were completely remodeled w/ new plumbing & elect. , tile, cabinets, paint & carpet in early 2001, all done w/ permits. Prox. 1664 sq. ft. - Rents now @ $525 ea.

9. 2002-07-26
   historical 290-char remark

   Show marketing remark (290 chars)

   Original structure was removed & this DX was moved onto site w/ utility & water heater rms. added. Units were completely remodeled w/ new plumbing & elect. , tile, cabinets, paint & carpet in early 2001, all done w/ permits. Prox. 1664 sq. ft. - Rents now @ $525 ea.

10. 2002-07-26
    price $96,000 290-char remark

    Show marketing remark (290 chars)

    Original structure was removed & this DX was moved onto site w/ utility & water heater rms. added. Units were completely remodeled w/ new plumbing & elect. , tile, cabinets, paint & carpet in early 2001, all done w/ permits. Prox. 1664 sq. ft. - Rents now @ $525 ea.

11. 2002-06-03
    listed $92,000 290-char remark

    Show marketing remark (290 chars)

    Original structure was removed & this DX was moved onto site w/ utility & water heater rms. added. Units were completely remodeled w/ new plumbing & elect. , tile, cabinets, paint & carpet in early 2001, all done w/ permits. Prox. 1664 sq. ft. - Rents now @ $525 ea.

12. 1998-12-22
    soldstatus $8,000
13. 1998-12-02
    price $9,995
14. 1998-12-02
    historical
15. 1998-11-24
    listed $8,000

ⓘ 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: $3,181 · $265/mo
• Projected year-2 tax: $3,181 · $265/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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°F today · 17 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: $35,988
• − Mortgage interest: −$15,124
• − Property taxes: −$3,181
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,879
• − Management: −$2,879
• − Depreciation: −$7,855
• Taxable income: $2,720
• Est. tax owed @ 24.0%: −$653
• After-tax cash flow: $6,255/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: Beardsley Elementary
• NCES district ID: 0604260
• Math proficiency: 7% ▼ -12.00%
• Reading proficiency: 18% ▼ -16.00%
• Median HH income: $28,808
• Composite: 9.63/100
• National rank: #9841
• State rank: #501 of 517 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

+3275.0% since first listed

15 events — show timeline

• 2026-05-15 Pending — GEMLS
• 2026-05-07 Listed $270,000 GEMLS
• 2016-01-08 Sold (Public Records) $110,000 Public Records
• 2010-02-26 Sold (Public Records) $55,000 Public Records
• 2010-02-26 Sold (MLS) $55,000 GEMLS
• 2009-11-18 Listed $55,000 GEMLS
• 2002-09-06 Sold (Public Records) $92,000 Public Records
• 2002-09-06 Sold (MLS) $92,000 GEMLS
• 2002-07-26 Price Changed $96,000 GEMLS
• 2002-07-26 Delisted — GEMLS
• 2002-06-03 Listed $92,000 GEMLS
• 1998-12-22 Sold (MLS) $8,000 GEMLS
• 1998-12-02 Delisted — GEMLS
• 1998-12-02 Price Changed $9,995 GEMLS
• 1998-11-24 Listed $8,000 GEMLS

Property tax history

+6.6%/yr

Latest (2025): $3,181 · +3.6% YoY. Source: county tax records.