127 Agnes Ave · Santa Maria, CA 93458

$3,500,000

195 bd · 169.0 ba · 7,950 sqft · MultiFamily · 127 Days on market

Built 1965 0.43 ac lot

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Why this score? — see what drove the F 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 +9.5/30.0
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Rent growth +3.1/5.0
• Schools +2.9/10.0
• DSCR +2.7/10.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 13 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Fully leased! Positive Leverage From Day 1 w/ 3.77% Interest Only Assumable Agency Loan! Agnes Apartments is a 13-unit multifamily community located in Santa Maria, offering a well-positioned residential investment with immediate cash flow. The property features an ideal unit mix consisting of studios, one-bedroom, and two-bedroom units, allow-ing for broad tenant appeal. Units are arranged around a central courtyard with open green space, providing a functional common area for residents. The property includes a shared on-site washer and dryer room and covered carport parking, with one parking space provided per unit. Recent lighting upgrades have improved visibility and safety throughout the parking areas. **Part of a portfolio sale - 511 W Cook Street (11 units) is available under same ownership.**

Key facts

• Open green space
• Central courtyard
• 0.43 acre lot

Tags

• CENTRAL COURTYARD
• OPEN GREEN SPACE
• COVERED CARPORT PARKING
• RECENT LIGHTING UPGRADES

Property features AI

Finance

• Financial info: Sample reported rents: Unit type totals include $4,699 for one 2-bedroom unit group and $10,827 for a group of 6 one-bedroom units

Exterior

• Parking: 13 carport spaces
• Home design: Multi-unit property (13 total units); Zoned R-3

Interior

• Bedrooms: Two 2-bedroom units; Six 1-bedroom units; Five studio/other units (bath count only listed)
• Bathrooms: Multiple units with one bathroom each
• Interior features: Laundry room
• Laundry & utility: Laundry room available

What this means for you Summary

Snapshot

• This is a 13 × 1-bed/1.0-bath units multifamily listed at $3.50M.

Deal economics

• At list price, monthly cash flow is $-2k ($-30k/yr) — negative. Per door: $-189/mo.
• To cash-flow at today's rent, offer at most $3.07M (12.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $2.44M (30.2% below list).
• Recommended offer: $2.44M (30.2% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 3.5% in Santa Maria — 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 71/100 on livability (#202 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A; Watch: crime F, cost of living F.
• Santa Maria-Bonita (urban): math 26% / reading 34% proficiency, ranked #1,023 of 1,400 in CA (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Bruce (Robert) Elementary (951 students, 83% FRL); El Camino Junior High (779 students, 91% FRL); Pioneer Valley High (3,220 students, 74% FRL).
• Market conditions: Rents rising (+2.3%/yr); 56 active listings in the ZIP; solid renter incomes; 719 units permitted in Santa Barbara County in 2024 (217 in 5+ unit buildings).
• At $24,421/mo this rent would consume 389% of the median local household income ($75k/yr) (locally 2583% 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 $24k of loan paydown is wiped out by about $105k of value loss. Plan a longer hold.
• Santa Barbara County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 127 days — a 12% lower offer ($3.08M) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y 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 $1.86M; list at $3.50M implies a 88% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $2,442,100 (30.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 127 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
11. 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.
12. 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.
13. 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: 0.70% ✗
• Cap rate: 5.45%
• Cash-on-cash: -3.02%
• DSCR: 0.87
• GRM: 11.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.31% rent growth · sell at horizon

5-year hold

• IRR: -22.1%
• Equity multiple: 0.24×
• Total profit: $-741,947
• Equity at exit: $521,861

10-year hold

• IRR: -17.7%
• Equity multiple: 0.06×
• Total profit: $-920,738
• Equity at exit: $302,616

Cash invested: $980,000 (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 93458

• Rents YoY: 2.3%
• Active inventory: 56
• Price-to-rent: 155.3×

Monthly cashflow live

• Estimated rent: $24,421 high
• Mortgage (P&I): −$18,354
• Tax from tax record: −$1,942 /mo · $23,307/yr
• Insurance: −$1,458
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,128
• Net cashflow: $-2,462

Break-even live

Break-even rent $27,538

Max offer price $3,065,011

Occupancy floor —

Sensitivity live

Price	-10% $-481	-5% $-1,472	+0% $-2,462	+5% $-3,453	+10% $-4,444
Rent	-10% $-4,392	-5% $-3,427	+0% $-2,462	+5% $-1,498	+10% $-533
Rate	-1.0pp $-700	-0.5pp $-1,572	base $-2,462	+0.5pp $-3,369	+1.0pp $-4,292

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

Units	Beds	Baths	Est. rent
▸ 13× units	1	1	$24,427
Total (13 units)			$24,421

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: $875,000
• Closing costs: $105,000
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-03
   days on marketlisting id $3,500,000 Active 127 DOM
2. 2026-06-02
   days on market $3,500,000 Active 126 DOM
3. 2026-06-01
   days on market $3,500,000 Active 125 DOM
4. 2026-05-31
   days on market $3,500,000 Active 124 DOM
5. 2026-05-30
   days on market $3,500,000 Active 123 DOM
6. 2026-01-27
   listed $3,500,000 Active 811-char remark

   Show marketing remark (811 chars)

   Fully leased! Positive Leverage From Day 1 w/ 3.77% Interest Only Assumable Agency Loan! Agnes Apartments is a 13-unit multifamily community located in Santa Maria, offering a well-positioned residential investment with immediate cash flow. The property features an ideal unit mix consisting of studios, one-bedroom, and two-bedroom units, allow-ing for broad tenant appeal. Units are arranged around a central courtyard with open green space, providing a functional common area for residents. The property includes a shared on-site washer and dryer room and covered carport parking, with one parking space provided per unit. Recent lighting upgrades have improved visibility and safety throughout the parking areas. **Part of a portfolio sale - 511 W Cook Street (11 units) is available under same ownership.**

7. 2026-01-27
   listed $3,500,000 Active

   Show marketing remark (811 chars)

   Fully leased! Positive Leverage From Day 1 w/ 3.77% Interest Only Assumable Agency Loan! Agnes Apartments is a 13-unit multifamily community located in Santa Maria, offering a well-positioned residential investment with immediate cash flow. The property features an ideal unit mix consisting of studios, one-bedroom, and two-bedroom units, allow-ing for broad tenant appeal. Units are arranged around a central courtyard with open green space, providing a functional common area for residents. The property includes a shared on-site washer and dryer room and covered carport parking, with one parking space provided per unit. Recent lighting upgrades have improved visibility and safety throughout the parking areas. **Part of a portfolio sale - 511 W Cook Street (11 units) is available under same ownership.**

8. 2018-11-13
   soldstatus $1,860,000
9. 2018-11-09
   soldstatus $1,860,000 510-char remark

   Show marketing remark (510 chars)

   Recently updated 13 unit apartment complex located in Santa Maria just off Broadway Avenue, a major arterial. Property is located in close proximity to several local markets, restaurants and retail outlets. Alvin Elementary School and El Camino Junior High School are located within a third of a mile and the Santa Maria town center is located under a mile, placing this complex in a great location. The property provides 13 covered off-street parking places and has just completed an extensive remodel includi

10. 2018-11-09
    soldstatus $1,860,000 Closed Sale

    Show marketing remark (510 chars)

    Recently updated 13 unit apartment complex located in Santa Maria just off Broadway Avenue, a major arterial. Property is located in close proximity to several local markets, restaurants and retail outlets. Alvin Elementary School and El Camino Junior High School are located within a third of a mile and the Santa Maria town center is located under a mile, placing this complex in a great location. The property provides 13 covered off-street parking places and has just completed an extensive remodel includi

11. 2018-09-11
    status Pending Sale
12. 2018-08-13
    listed $1,950,000 510-char remark

    Show marketing remark (510 chars)

    Recently updated 13 unit apartment complex located in Santa Maria just off Broadway Avenue, a major arterial. Property is located in close proximity to several local markets, restaurants and retail outlets. Alvin Elementary School and El Camino Junior High School are located within a third of a mile and the Santa Maria town center is located under a mile, placing this complex in a great location. The property provides 13 covered off-street parking places and has just completed an extensive remodel includi

13. 2018-08-13
    listed $1,950,000 Active

    Show marketing remark (510 chars)

    Recently updated 13 unit apartment complex located in Santa Maria just off Broadway Avenue, a major arterial. Property is located in close proximity to several local markets, restaurants and retail outlets. Alvin Elementary School and El Camino Junior High School are located within a third of a mile and the Santa Maria town center is located under a mile, placing this complex in a great location. The property provides 13 covered off-street parking places and has just completed an extensive remodel includi

14. 2017-04-04
    historical
15. 2016-06-10
    soldstatus $1,500,000
16. 2015-11-25
    soldstatus $1,500,000
17. 2015-01-05
    listed $1,499,950

ⓘ 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: $23,307 · $1,942/mo
• Projected year-2 tax: $26,600 · $2,217/mo
• Expected delta: +$3,293/yr (+$274/mo · 14.1%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥84°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 11 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $293,052
• − Mortgage interest: −$196,054
• − Property taxes: −$23,307
• − Insurance: −$17,500
• − Repairs & maintenance: −$23,444
• − Management: −$23,444
• − Depreciation: −$101,818
• Taxable loss: −$92,516
• Est. tax savings @ 24.0%: +$22,204
• After-tax cash flow: $-7,345/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: Santa Maria-Bonita
• NCES district ID: 0605580
• Math proficiency: 26% ▲ 3.00%
• Reading proficiency: 34% ▲ 3.00%
• Median HH income: $50,959
• Composite: 29.11/100
• National rank: #11891
• State rank: #1023 of 1400 in CA

Livability — Santa Maria

• Score: 71/100
• State rank: #202
• US rank: #6519

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Santa Maria, CA
• County: Santa Barbara County · 410,380 people
• City population: 145,655
• Metro: Santa Maria-Santa Barbara, CA
• Population (ZIP): 59,148
• Household income: $75,257
• Rent vs Own: 57.1% rent · 42.9% own
• Severe rent burden: 2583.0

Population outlook (Santa Barbara County) Hauer SSP2

• Today (2025): 484,679 people
• By 2030: 505,323 · +4.3%
• By 2040: 545,783 · +12.6%
• By 2050: 584,263 · +20.5%
• By 2075: 682,586 · +40.8%
• By 2100: 723,188 · +49.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (87%)
• Race & ethnicity: Hispanic / Latino 87% Two or more races 41% White 8% Asian 4% Native American 4%
• Hispanic origin (detail): Mexican 83%
• Common ancestry: Lithuanian 1%
• Foreign-born: 40% · Canada, Jamaica
• Languages at home: 21% English-only · Spanish 72% Tagalog/Filipino 2% Other Asian/Pacific 1%

Political lean MEDSL · Santa Barbara

• 2024 margin: Strong D (+26.7) · D 61.8% · R 35.1% · Other 3.1%
• 2008→2024 swing: +3.8pp toward D · 2008: 22.9pp · 2024: 26.7pp
• All cycles: 2024: D+26.7 2020: D+32.1 2016: D+28.2 2012: D+17.1 2008: D+22.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -422.91%
• Current HPI: 347.9281
• Rent YoY: ▲ 2.31%
• Metro: Santa Maria-Santa Barbara, 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

+133.3% since first listed

12 events — show timeline

• 2026-01-27 Listed $3,500,000 SBMLS
• 2026-01-27 Listed $3,500,000 NSBCRMLS
• 2018-11-13 Sold (Public Records) $1,860,000 Public Records
• 2018-11-09 Sold (MLS) $1,860,000 CRMLS
• 2018-11-09 Sold (MLS) $1,860,000 SDMLS
• 2018-09-11 Pending — CRMLS
• 2018-08-13 Listed $1,950,000 CRMLS
• 2018-08-13 Listed $1,950,000 SDMLS
• 2017-04-04 Listing Removed — NSBCRMLS
• 2016-06-10 Sold (Public Records) $1,500,000 Public Records
• 2015-11-25 Sold (Public Records) $1,500,000 Public Records
• 2015-01-05 Listed $1,499,950 NSBCRMLS

Property tax history

+13.4%/yr

Latest (2025): $23,307 · +4.7% YoY. Source: county tax records.