6601 Eucalyptus Dr #233 · East Niles, CA 93306

$39,000

2 bd · 1.0 ba · 728 sqft · Manufactured public records · 99 Days on market

Built 1996 $54/sqft · 36% below area Est $61k · 36% under ↓ 13% since listing

---

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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.4/10.0
• Rent growth +3.1/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming 2 bedroom, 1 bath homeperfect for a first-time buyer or a savvy investor. This home offers a comfortable layout with an indoor laundry area for everyday convenience. Step outside to enjoy the covered patio, a great spot to relax or gather with friends and family. The property features a good-sized yard with a fully fenced space, giving you privacy and plenty of room for outdoor activities, pets, or gardening. A storage shed in the backyard provides extra space for tools and seasonal items, while the driveway offers easy parking. With great potential and practical features throughout, this home is a wonderful opportunity to own or invest. Don't miss your chance to make it yours!

Key facts

• Indoor laundry area
• Good-sized yard
• Easy parking

Tags

• INDOOR LAUNDRY AREA
• COVERED PATIO
• GOOD-SIZED YARD
• FULLY FENCED SPACE
• STORAGE SHED
• EASY PARKING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $39k.

Deal economics

• At list price, monthly cash flow is $915 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $39k).
• Recommended offer: $35k (9.0% below list) — sets the bar for market timing.
• Cap rate 34.5% vs local median 4.4% in East Niles — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Kern High (urban): math 21% / reading 51% proficiency, ranked #860 of 1,400 in CA (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.2%/yr); 387 active listings in the ZIP; 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 $270 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 2.2% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($35k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $35,490 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 3.79% ✓
• Cap rate: 34.46%
• Cash-on-cash: 100.60%
• DSCR: 5.48
• GRM: 2.2

CMA / ARV

• ARV (median comp): $61,027
• List price: $39,000
• Delta: -36.09%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6601 Eucalyptus Dr #300	0.00mi	2/1.0	744 (+2%)	12mo	$35,900	$48	86
6601 Eucalyptus Dr #11	0.00mi	2/2.0	732 (+0%)	13mo	$29,900	$41	85
6601 Eucalyptus Dr #356	0.00mi	2/2.0	753 (+3%)	10mo	$79,000	$105	82

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 · 2.24% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 5.66×
• Total profit: $50,875
• Equity at exit: $5,815

10-year hold

• IRR: —
• Equity multiple: 11.52×
• Total profit: $114,892
• Equity at exit: $3,372

Cash invested: $10,920 (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 93306

• Rents YoY: 2.2%
• Active inventory: 387
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $1,478 medium
• Mortgage (P&I): −$205
• Tax from tax record: −$31 /mo · $374/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $915

Break-even live

Break-even rent $319

Max offer price $39,000

Occupancy floor 33%

Sensitivity live

Price	-10% $938	-5% $926	+0% $915	+5% $904	+10% $893
Rent	-10% $799	-5% $857	+0% $915	+5% $974	+10% $1,032
Rate	-1.0pp $935	-0.5pp $925	base $915	+0.5pp $905	+1.0pp $895

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: $9,750
• Closing costs: $1,170
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $39,000 Active 99 DOM
2. 2026-06-17
   days on market $39,000 Active 98 DOM
3. 2026-06-16
   days on market $39,000 Active 97 DOM
4. 2026-06-15
   days on market $39,000 Active 96 DOM
5. 2026-06-14
   days on market $39,000 Active 94 DOM
6. 2026-06-10
   days on market $39,000 Active 91 DOM
7. 2026-06-09
   days on market $39,000 Active 90 DOM
8. 2026-06-08
   days on market $39,000 Active 89 DOM
9. 2026-06-07
   days on market $39,000 Active 88 DOM
10. 2026-06-05
    days on market $39,000 Active 85 DOM
11. 2026-06-03
    days on market $39,000 Active 84 DOM
12. 2026-06-03
    days on market $39,000 Active 83 DOM
13. 2026-06-01
    days on market $39,000 Active 82 DOM
14. 2026-05-31
    days on market $39,000 Active 81 DOM
15. 2026-04-15
    price $39,000 711-char remark

    Show marketing remark (711 chars)

    Welcome to this charming 2 bedroom, 1 bath homeperfect for a first-time buyer or a savvy investor. This home offers a comfortable layout with an indoor laundry area for everyday convenience. Step outside to enjoy the covered patio, a great spot to relax or gather with friends and family. The property features a good-sized yard with a fully fenced space, giving you privacy and plenty of room for outdoor activities, pets, or gardening. A storage shed in the backyard provides extra space for tools and seasonal items, while the driveway offers easy parking. With great potential and practical features throughout, this home is a wonderful opportunity to own or invest. Don't miss your chance to make it yours!

16. 2026-03-11
    listed $45,000 Active 711-char remark

    Show marketing remark (711 chars)

    Welcome to this charming 2 bedroom, 1 bath homeperfect for a first-time buyer or a savvy investor. This home offers a comfortable layout with an indoor laundry area for everyday convenience. Step outside to enjoy the covered patio, a great spot to relax or gather with friends and family. The property features a good-sized yard with a fully fenced space, giving you privacy and plenty of room for outdoor activities, pets, or gardening. A storage shed in the backyard provides extra space for tools and seasonal items, while the driveway offers easy parking. With great potential and practical features throughout, this home is a wonderful opportunity to own or invest. Don't miss your chance to make it yours!

ⓘ 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: $374 · $31/mo
• Projected year-2 tax: $374 · $31/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 6/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 34 unhealthy d/yr today · 40 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,732
• − Mortgage interest: −$2,185
• − Property taxes: −$374
• − Insurance: −$195
• − Repairs & maintenance: −$1,419
• − Management: −$1,419
• − Depreciation: −$1,135
• Taxable income: $11,007
• Est. tax owed @ 24.0%: −$2,642
• After-tax cash flow: $8,344/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: Kern High
• NCES district ID: 0619540
• Math proficiency: 21% ▬ 0.00%
• Reading proficiency: 51% ▲ 2.00%
• Median HH income: $49,686
• Composite: 33.68/100
• National rank: #10443
• State rank: #860 of 1400 in CA

Livability — East Niles

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: East Niles, CA
• County: Kern County · 710,371 people
• Metro: Bakersfield, CA
• Population (ZIP): 74,116
• Household income: $69,805
• Rent vs Own: 36.2% rent · 63.8% own
• Severe rent burden: 2871.0

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 Hispanic (67%)
• Race & ethnicity: Hispanic / Latino 67% White 23% Two or more races 20% Black 3% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 63%
• Common ancestry: Italian 2% Slovak 1% Russian 1%
• Foreign-born: 19% · Canada
• Languages at home: 50% English-only · Spanish 46% Other Asian/Pacific 1% Arabic 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: ▼ -323.02%
• Current HPI: 358.5434
• Rent YoY: ▲ 2.24%
• 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

-13.3% since first listed

2 events — show timeline

• 2026-04-15 Price Changed $39,000 GEMLS
• 2026-03-11 Listed $45,000 GEMLS

Property tax history

+8.2%/yr

Latest (2025): $374 · +4.4% YoY. Source: county tax records.