118 Hughes Ave · Oildale, CA 93308

$170,000

2 bd · 1.0 ba · 1,125 sqft · Other · 76 Days on market

Built 2024 4,791 sqft lot $151/sqft · 27% below area Est $232k · 27% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +12.9/30.0
• DSCR +3.9/10.0
• 1% rule +3.4/10.0
• Rent growth +3.1/5.0
• Livability +2.9/5.0
• Appreciation +2.7/10.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Listing remarks MLS

Great investment opportunity! This partially completed 600sq. ft. 2-bedroom, 1-bath home is over 60% finished and ready for the right buyer to bring it across the finish line. Major improvements are already completed, including new windows, new roof, electrical, and plumbing. The home also features a dedicated laundry room and sits on a large lot with plenty of room to expand. Even better, approved blueprints and permits are already in place, giving you a head start on completing the project. All that's left are the final touches to make this property truly shine.

Key facts

• Large lot
• Permits
• New roof

Tags

• NEW WINDOWS
• NEW ROOF
• DEDICATED LAUNDRY ROOM
• LARGE LOT
• APPROVED BLUEPRINTS
• PERMITS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $170k.

Deal economics

• At list price, monthly cash flow is $-13 ($-156/yr) — negative.
• To cash-flow at today's rent, offer at most $168k (1.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $142k (16.4% below list).
• Recommended offer: $142k (16.4% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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; 38 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $1k of loan paydown is wiped out by about $5k 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 76 days — a 6% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 7y 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 $135k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $142,045 (16.4% 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 76 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
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 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?
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. 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?
8. 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.
9. 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.
10. 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: 0.84% ✗
• Cap rate: 6.20%
• Cash-on-cash: -0.33%
• DSCR: 0.99
• GRM: 10.0

CMA / ARV

• ARV (median comp): $231,887
• List price: $170,000
• Delta: -26.69%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -17.7%
• Equity multiple: 0.38×
• Total profit: $-29,484
• Equity at exit: $25,348

10-year hold

• IRR: -11.3%
• Equity multiple: 0.34×
• Total profit: $-31,220
• Equity at exit: $14,698

Cash invested: $47,600 (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: 10.0×

Monthly cashflow live

• Estimated rent: $1,420 high
• Mortgage (P&I): −$891
• Tax from tax record: −$173 /mo · $2,074/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $-13

Break-even live

Break-even rent $1,437

Max offer price $167,705

Occupancy floor 96%

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
106 E Warren Ave Bakersfield, CA	3.0	2.0	1169	$1,400	$1.20	10d	1	0.16mi
120 Harding Ave Unit D Bakersfield, CA	1.0	1.0	1000	$900	$0.90	2d	1	0.28mi
214 E Belle Ave Unit A Bakersfield, CA	1.0	1.0	875	$1,250	$1.43	2d	1	0.33mi
222 Harding Ave Unit B Bakersfield, CA	3.0	2.0	1100	$1,750	$1.59	2d	1	0.38mi
222 Moneta Ave Unit 222 Bakersfield, CA	3.0	2.0	1040	$1,700	$1.63	2d	1	0.47mi
419 Washington Ave Unit 417 Bakersfield, CA	3.0	2.0	975	$1,500	$1.54	2d	1	0.51mi
327 McCord Ave Unit 6 Bakersfield, CA	3.0	1.0	1000	$1,500	$1.50	2d	1	0.72mi
415 Arvin St Bakersfield, CA	1.0	1.0	800	$1,000	$1.25	2d	1	0.73mi
213 Oildale Dr Unit A Bakersfield, CA	2.0	2.0	928	$1,195	$1.29	2d	1	0.76mi
611 Wilson Ave Unit B Bakersfield, CA	2.0	1.0	750	$1,195	$1.59	43d	1	0.76mi
1405 Yosemite Dr Unit 1405 Bakersfield, CA	2.0	1.0	712	$1,100	$1.54	43d	1	0.77mi
210 Douglas St Unit B Bakersfield, CA	2.0	1.5	1274	$1,400	$1.10	2d	1	0.82mi
1905 McCray St Bakersfield, CA	2.0	1.0	736	$1,450	$1.97	2d	1	0.84mi
411 Highland Dr Bakersfield, CA	2.0	1.0	1051	$1,650	$1.57	2d	1	0.84mi
2301 Olympic Dr Unit C Bakersfield, CA	1.0	1.0	756	$1,095	$1.45	2d	1	0.84mi
2309 Manor St Bakersfield, CA	3.0	1.0	1090	$1,725	$1.58	2d	1	0.94mi
2413 Ashby St Unit 1 Bakersfield, CA	3.0	1.0	1230	$1,750	$1.42	14d	1	0.98mi
448 S Oildale Dr Bakersfield, CA	3.0	2.0	1080	$1,500	$1.39	2d	1	1.03mi
709 Francis St Bakersfield, CA	3.0	1.0	1300	$1,400	$1.08	43d	1	1.03mi
819 Washington Ave Bakersfield, CA	2.0	1.0	767	$1,295	$1.69	2d	1	1.04mi
501 Belmont Ave Bakersfield, CA	1.0	1.0	1000	$625	$0.62	43d	1	1.05mi
627 Beardsley Ave Bakersfield, CA	3.0	1.0	967	$1,575	$1.63	43d	1	1.05mi
101 Star Ct Bakersfield, CA	3.0	2.0	1040	$2,145	$2.06	43d	1	1.06mi
615 W China Grade Loop Bakersfield, CA	1.0–2.0	1.0–2.0	875	$1,850	$2.11	2d	6	1.10mi
901 Castaic Ave Bakersfield, CA	2.0	1.0	1076	$1,700	$1.58	2d	1	1.12mi
706 Huskey Dr Bakersfield, CA	2.0	1.0	832	$1,450	$1.74	43d	1	1.14mi
627 Hood Dr Bakersfield, CA	3.0	1.0	1140	$1,795	$1.57	2d	1	1.16mi
811 Beardsley Ave Bakersfield, CA	2.0	1.0	800	$1,295	$1.62	2d	1	1.20mi
901 W Columbus St Unit 266 Bakersfield, CA	2.0	1.0	864	$1,325	$1.53	21d	1	1.27mi
901 W Columbus St Apt 232 Bakersfield, CA	2.0	1.0	864	$1,165	$1.35	21d	1	1.29mi
901 W Columbus St Bakersfield, CA	1.0–2.0	1.0	807	$1,425	$1.77	2d	12	1.30mi
901 W Columbus St Unit 236 Bakersfield, CA	2.0	1.0	864	$1,325	$1.53	43d	1	1.30mi
4504 Tierra Verde St Unit C Bakersfield, CA	2.0	1.5	925	$1,595	$1.72	2d	1	1.30mi
2609 Violet Ct Bakersfield, CA	3.0	2.0	1471	$2,100	$1.43	43d	1	1.33mi
2600 Park Meadows Dr Bakersfield, CA	1.0–2.0	1.0–2.0	864	$1,495	$1.73	2d	2	1.34mi
1201 40th St Bakersfield, CA	2.0–3.0	1.0–2.0	870	$1,075	$1.23	2d	1	1.35mi
3817 K St Unit A Bakersfield, CA	2.0	1.0	763	$1,285	$1.68	2d	1	1.37mi
706 Orchid Dr Apt A Bakersfield, CA	3.0	2.0	1233	$1,900	$1.54	2d	1	1.43mi

Listing history 34 events

1. 2026-06-18
   days on market $170,000 Active 76 DOM
2. 2026-06-17
   days on market $170,000 Active 75 DOM
3. 2026-06-16
   days on market $170,000 Active 74 DOM
4. 2026-06-15
   days on market $170,000 Active 73 DOM
5. 2026-06-14
   pricedays on market $170,000 Active 71 DOM
6. 2026-06-10
   days on market $175,000 Active 68 DOM
7. 2026-06-09
   days on market $175,000 Active 67 DOM
8. 2026-06-08
   days on market $175,000 Active 66 DOM
9. 2026-06-07
   days on market $175,000 Active 65 DOM
10. 2026-06-05
    days on market $175,000 Active 62 DOM
11. 2026-06-03
    days on market $175,000 Active 61 DOM
12. 2026-06-03
    days on market $175,000 Active 60 DOM
13. 2026-06-01
    days on market $175,000 Active 59 DOM
14. 2026-05-31
    days on market $175,000 Active 58 DOM
15. 2026-04-03
    listed $175,000 Active 570-char remark

    Show marketing remark (570 chars)

    Great investment opportunity! This partially completed 600sq. ft. 2-bedroom, 1-bath home is over 60% finished and ready for the right buyer to bring it across the finish line. Major improvements are already completed, including new windows, new roof, electrical, and plumbing. The home also features a dedicated laundry room and sits on a large lot with plenty of room to expand. Even better, approved blueprints and permits are already in place, giving you a head start on completing the project. All that's left are the final touches to make this property truly shine.

16. 2025-03-06
    status Active
17. 2025-03-02
    status Pending
18. 2024-11-10
    listed $250,000 Active
19. 2024-03-26
    soldstatus $135,000 Sold
20. 2024-03-26
    soldstatus $135,000
21. 2024-03-26
    status Pending
22. 2024-03-12
    listed $150,000 Active
23. 2022-04-22
    price $69,000
24. 2022-03-09
    price $79,900
25. 2020-04-30
    price $31,000
26. 2020-04-09
    price $35,000
27. 2019-08-29
    price $26,000
28. 2019-08-28
    soldstatus $26,000 Sold
29. 2019-08-19
    status Pending
30. 2019-08-18
    price $30,000
31. 2019-08-16
    price $30,000
32. 2019-07-31
    listed $35,000 Active
33. 2005-12-23
    soldstatus $95,000
34. 1989-06-22
    soldstatus $15,000

ⓘ 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: $2,074 · $173/mo
• Projected year-2 tax: $2,074 · $173/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 5/10 Major
• 🌡 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: $17,045
• − Mortgage interest: −$9,523
• − Property taxes: −$2,074
• − Insurance: −$850
• − Repairs & maintenance: −$1,364
• − Management: −$1,364
• − Depreciation: −$4,945
• Taxable loss: −$3,074
• Est. tax savings @ 24.0%: +$738
• After-tax cash flow: $582/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

+1066.7% since first listed

20 events — show timeline

• 2026-04-03 Listed $175,000 GEMLS
• 2025-03-06 Relisted — GEMLS
• 2025-03-02 Pending — GEMLS
• 2024-11-10 Listed $250,000 GEMLS
• 2024-03-26 Sold (Public Records) $135,000 Public Records
• 2024-03-26 Sold (MLS) $135,000 GEMLS
• 2024-03-26 Pending — GEMLS
• 2024-03-12 Listed $150,000 GEMLS
• 2022-04-22 Price Changed $69,000 GEMLS
• 2022-03-09 Price Changed $79,900 GEMLS
• 2020-04-30 Price Changed $31,000 GEMLS
• 2020-04-09 Price Changed $35,000 GEMLS
• 2019-08-29 Price Changed $26,000 GEMLS
• 2019-08-28 Sold (MLS) $26,000 GEMLS
• 2019-08-19 Pending — GEMLS
• 2019-08-18 Price Changed $30,000 GEMLS
• 2019-08-16 Price Changed $30,000 GEMLS
• 2019-07-31 Listed $35,000 GEMLS
• 2005-12-23 Sold (Public Records) $95,000 Public Records
• 1989-06-22 Sold (Public Records) $15,000 Public Records

Property tax history

+21.8%/yr

Latest (2025): $2,074 · +5.8% YoY. Source: county tax records.