121 Glenwood St · Delano, CA 93215

$200,000

4 bd · 2.0 ba · 834 sqft · MultiFamily public records · 28 Days on market

Built 1949 7,840 sqft lot ↓ 19% since listing

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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 +27.5/30.0
• DSCR +9.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Livability +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: 1 unit. estimate disagrees with records

Listing remarks

Great Opportunity to add to your portfolio or your fist investment property. Duplexes are both 1 bedroom/ 1 bath. Over-sized lot for possible future units. Long term tenants. Upside for more potential rental income. Property is being sold in As-Is condition. Hard money or Cash only. Property must be sold in conjunction with 125 Glenwood St priced at $300,000. Offer subject to interior inspection.

Key facts

• 7,840 sq ft lot
• Built 1949
• Listed 28 days

Property features AI

Finance

• Other: Vacancy factor listed as 1.00; Price per unit listed at $125,000
• Financial info: Owner-occupied status listed as Owner; Two-unit property; Annual gross income approximately $12,960; Annual net income approximately $10,960; Total annual expenses approximately $2,000; Actual income/expense reporting; Actual monthly rent shown as $540 for each unit

Exterior

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

Interior

• Bedrooms: Three 1-bedroom units total (one unit in Unit Type 1; two units in Unit Type 2)
• Bathrooms: Three 1-bath units (one bath per unit)
• Heating & cooling: Other heating and cooling
• Interior features: Tenant-occupied units

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $591 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $197k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 3.2% in Delano — 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 50/100 on livability (#1,143 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: cost of living D, schools F, amenities F.
• Delano Union Elementary (suburban): math 32% / reading 43% proficiency, ranked #860 of 1,400 in CA (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 149 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $6k 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 + 3.0% rent growth), your $56k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $50k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate 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 $197,000 (1.5% below list)

Questions for the listing agent

1. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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 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: 1.12% ✓
• Cap rate: 9.84%
• Cash-on-cash: 12.67%
• DSCR: 1.56
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 2.4%
• Equity multiple: 1.09×
• Total profit: $5,161
• Equity at exit: $29,821

10-year hold

• IRR: 11.9%
• Equity multiple: 1.94×
• Total profit: $52,615
• Equity at exit: $17,292

Cash invested: $56,000 (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 93215

• Home prices YoY: -15.4%
• Active inventory: 149
• Price-to-rent: 14.9×

Monthly cashflow live

• Estimated rent: $2,238 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$45 /mo · $534/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$470
• Net cashflow: $591

Break-even live

Break-even rent $1,489

Max offer price $200,000

Occupancy floor 69%

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$2,238
Total (2 units)			$2,238

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
529 Main St Delano, CA	3.0	1.0	920	$1,850	$2.01	10d	1	0.35mi
1225 Lexington St Unit B Delano, CA	3.0	2.0	983	$1,700	$1.73	2d	1	1.01mi

Listing history 13 events

1. 2026-06-09
   status $200,000 Pending 28 DOM
2. 2026-06-08
   days on market $200,000 Active 28 DOM
3. 2026-06-07
   days on market $200,000 Active 27 DOM
4. 2026-06-05
   days on market $200,000 Active 24 DOM
5. 2026-06-03
   days on market $200,000 Active 23 DOM
6. 2026-06-03
   days on market $200,000 Active 22 DOM
7. 2026-06-01
   days on market $200,000 Active 21 DOM
8. 2026-05-31
   days on market $200,000 Active 20 DOM
9. 2026-05-12
   price $200,000
10. 2026-05-11
    listed $250,000 Active
11. 2025-02-01
    listed $250,000 Active
12. 2025-02-01
    listed $250,000 Active
13. 2024-08-27
    listed $247,451 Active

ⓘ 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: $534 · $45/mo
• Projected year-2 tax: $1,520 · $127/mo
• Expected delta: +$986/yr (+$82/mo · 184.5%)

ⓘ 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 ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 30 unhealthy d/yr today · 34 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,856
• − Mortgage interest: −$11,203
• − Property taxes: −$534
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,148
• − Management: −$2,148
• − Depreciation: −$5,818
• Taxable income: $4,003
• Est. tax owed @ 24.0%: −$961
• After-tax cash flow: $6,135/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: Delano Union Elementary
• NCES district ID: 0610890
• Math proficiency: 32% ▲ 6.00%
• Reading proficiency: 43% ▲ 4.00%
• Median HH income: $36,893
• Composite: 33.68/100
• National rank: #10442
• State rank: #860 of 1400 in CA

Livability — Delano

• Score: 50/100
• State rank: #1143
• US rank: #25752

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Delano, CA
• Population (ZIP): 53,627

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 (77%)
• Race & ethnicity: Hispanic / Latino 77% Two or more races 37% Asian 13% White 5% Black 4%
• Hispanic origin (detail): Mexican 73%
• Foreign-born: 34% · Canada, Vietnam
• Languages at home: 26% English-only · Spanish 64% Tagalog/Filipino 6% Other Asian/Pacific 3%

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: ▼ -70.32%
• Current HPI: 385.3136
• Rent YoY: —
• Metro: —
• 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

-19.2% since first listed

5 events — show timeline

• 2026-05-12 Price Changed $200,000 GEMLS
• 2026-05-11 Listed $250,000 GEMLS
• 2025-02-01 Listed $250,000 TCMLS
• 2025-02-01 Listed $250,000 GEMLS
• 2024-08-27 Listed $247,451 GEMLS

Property tax history

+5.2%/yr

Latest (2025): $534 · +3.4% YoY. Source: county tax records.