221 E E St · Tehachapi, CA 93561

$675,000

2 bd · 2.0 ba · 3,822 sqft · MultiFamily public records · 48 Days on market

Built 1988 7,405 sqft lot

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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 +21.9/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +4.6/10.0
• Schools +3.0/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

Back on the market. No fault of the Seller - Buyer could not perform. Listed under appraised value. Don't miss this exceptional income-producing property located at 221 East E Street. This 4-plex offers a fantastic opportunity for both seasoned investors and those looking to expand their real estate portfolio. Each unit provides comfortable living spaces with strong rental appeal, making this property ideal for consistent cash flow. The property features detached garages, offering added convenience and value for tenants, as well as a shared on-site laundry room, which enhances tenant satisfaction and retention. Situated in a desirable location with easy access to local amenities, shopping,

Key facts

• Detached garages
• 7,405 sq ft lot
• 4 garage spots

Tags

• DETACHED GARAGES
• SHARED ON-SITE LAUNDRY ROOM
• EASY ACCESS TO LOCAL AMENITIES

Property features AI

Finance

• Other: Price per unit listed
• Financial info: Four-unit investment property; Actual income/expense reporting; Annual gross income: $55,776; Annual net income: $34,543; Total annual expenses: $21,232.07; Management fee: $3,600; Fire insurance: $3,534; Garden/garbage: $840; Repairs: $4,839.32; Utilities expense: $5,580; Vacancy factor: 2%; Exchange: Eligible

Exterior

• Parking: Garage parking with space for 4 vehicles
• Utilities: Public water; Sewer
• Home design: Single-story building; Flat roof; Slab foundation
• Construction: Flat roof; Slab foundation
• Exterior features: 0.17-acre lot; Zoned R-2

Interior

• Kitchen: Four stoves; Four dishwashers
• Bedrooms: Four 2-bedroom units
• Bathrooms: Each unit has 1.5 baths
• Heating & cooling: Floor/wall heaters
• Interior features: Laundry room (shared)
• Laundry & utility: On-site laundry room

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.5-bath units multifamily listed at $675k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $265/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $648k (4.0% below list).
• Recommended offer: $648k (4.0% below list) — sets the bar for 1% rule.
• Cap rate 8.2% vs local median 3.4% in Tehachapi — 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 51/100 on livability (#1,093 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A; Watch: employment D+, crime F, amenities F.
• Tehachapi Unified (town): math 26% / reading 40% proficiency, ranked #285 of 517 in CA (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cummings Valley Elementary (math 36% / reading 45%, grade F, #599 of 1,571 statewide, top 39%, 586 students, 24% FRL).
• Market conditions: Rents flat; 654 active listings in the ZIP; solid renter incomes; 3,244 units permitted in Kern County in 2024 (73 in 5+ unit buildings).
• At $6,479/mo this rent would consume 89% of the median local household income ($87k/yr) (locally 568% 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 $5k of loan paydown is wiped out by about $20k 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

• It's been on market 48 days — a 3% lower offer ($655k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 4% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $449k; list at $675k implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $647,900 (4.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 4% 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. 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. 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?
7. 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.
8. 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.
9. 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: 0.96% ✗
• Cap rate: 8.18%
• Cash-on-cash: 6.74%
• DSCR: 1.30
• GRM: 8.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.05% rent growth · sell at horizon

5-year hold

• IRR: -9.0%
• Equity multiple: 0.68×
• Total profit: $-60,770
• Equity at exit: $100,645

10-year hold

• IRR: -3.5%
• Equity multiple: 0.79×
• Total profit: $-39,299
• Equity at exit: $58,362

Cash invested: $189,000 (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 93561

• Home prices YoY: -23.9%
• Rents YoY: 0.1%
• Active inventory: 654
• Price-to-rent: 34.7×

Monthly cashflow live

• Estimated rent: $6,479 high
• Mortgage (P&I): −$3,540
• Tax from tax record: −$237 /mo · $2,839/yr
• Insurance: −$281
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,361
• Net cashflow: $1,061

Break-even live

Break-even rent $5,136

Max offer price $675,000

Occupancy floor 79%

Sensitivity live

Price	-10% $1,443	-5% $1,252	+0% $1,061	+5% $870	+10% $679
Rent	-10% $549	-5% $805	+0% $1,061	+5% $1,317	+10% $1,573
Rate	-1.0pp $1,401	-0.5pp $1,233	base $1,061	+0.5pp $886	+1.0pp $708

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1.5	$6,480
Total (4 units)			$6,479

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: $168,750
• Closing costs: $20,250
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $675,000 Active 48 DOM
2. 2026-06-17
   days on market $675,000 Active 47 DOM
3. 2026-06-16
   days on market $675,000 Active 46 DOM
4. 2026-06-15
   days on market $675,000 Active 45 DOM
5. 2026-06-14
   days on market $675,000 Active 43 DOM
6. 2026-06-10
   days on market $675,000 Active 40 DOM
7. 2026-06-09
   days on market $675,000 Active 39 DOM
8. 2026-06-08
   days on market $675,000 Active 38 DOM
9. 2026-06-07
   days on market $675,000 Active 37 DOM
10. 2026-06-03
    statusdays on market $675,000 Active 33 DOM
11. 2026-06-03
    statusdays on market $675,000 Active - Contingent 32 DOM
12. 2026-06-01
    days on market $675,000 Active 31 DOM
13. 2026-05-31
    days on market $675,000 Active 30 DOM
14. 2026-05-18
    status Active
15. 2026-05-18
    price $675,000
16. 2026-05-07
    historical Active - Contingent
17. 2026-04-12
    status Pending
18. 2026-04-06
    listed $649,500 Active
19. 2006-09-21
    soldstatus $449,000
20. 2003-03-03
    soldstatus $182,500

ⓘ 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: $2,839 · $237/mo
• Projected year-2 tax: $5,130 · $428/mo
• Expected delta: +$2,291/yr (+$191/mo · 80.7%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 4/10 Moderate 7 d/yr ≥90°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 17 unhealthy d/yr today · 21 by 30 yrs out

Taxation est. · year 1

• Rental income: $77,748
• − Mortgage interest: −$37,810
• − Property taxes: −$2,839
• − Insurance: −$3,375
• − Repairs & maintenance: −$6,220
• − Management: −$6,220
• − Depreciation: −$19,636
• Taxable income: $1,648
• Est. tax owed @ 24.0%: −$395
• After-tax cash flow: $12,334/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: Tehachapi Unified
• NCES district ID: 0638880
• Math proficiency: 26% ▼ -5.00%
• Reading proficiency: 40% ▼ -6.00%
• Median HH income: $59,230
• Composite: 29.52/100
• National rank: #6497
• State rank: #285 of 517 in CA

Livability — Tehachapi

• Score: 51/100
• State rank: #1093
• US rank: #25419

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tehachapi, CA
• County: Kern County · 710,371 people
• City population: 31,175
• Metro: Bakersfield, CA
• Population (ZIP): 31,175
• Household income: $87,357
• Rent vs Own: 20.2% rent · 79.8% own
• Severe rent burden: 568.0

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: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 24% Two or more races 9% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: Italian 6% Lithuanian 3% Slovak 3%
• Foreign-born: 10% · Canada, China
• Languages at home: 83% English-only · Spanish 13% Chinese 1% Other Indo-European 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: ▼ -116.70%
• Current HPI: 371.6546
• Rent YoY: ▬ 0.05%
• 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

+269.9% since first listed

7 events — show timeline

• 2026-05-18 Relisted — GEMLS
• 2026-05-18 Price Changed $675,000 GEMLS
• 2026-05-07 Contingent — GEMLS
• 2026-04-12 Pending — GEMLS
• 2026-04-06 Listed $649,500 GEMLS
• 2006-09-21 Sold (Public Records) $449,000 Public Records
• 2003-03-03 Sold (Public Records) $182,500 Public Records

Property tax history

+2.7%/yr

Latest (2025): $2,839 · +1.3% YoY. Source: county tax records.