1300 Niles St · Bakersfield, CA 93305

$1,200,000

None bd · None ba · 10,900 sqft · MultiFamily public records · 17 Days on market

Built 1965 0.35 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.2/5.0
• Schools +3.4/10.0
• Livability +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 16 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

16 units corner Lot, NE. Rents are low. Fenced swimming pool. Great opportunity

Key facts

• Newer roof
• Newer paint
• 0.35 acre lot

Tags

• 16 UNIT APARTMENT COMPLEX
• UPDATED ELECTRICAL PANELS
• NEWER PAINT
• NEWER ROOF
• PROFESSIONALLY MANAGED

Property features AI

Finance

• Other: Occupant type: Tenant
• Financial info: 16-unit multifamily property; Annual gross income reported at $142,452; Annual net income reported at $106,452; Total annual expenses reported at $36,000; Actual income/expense data available; Annual Property Operating Data available; Vacancy factor assumed at 5%; Price per unit listed at $75,000; Some financial details noted as 'Other (See Remarks)'
• HOA & community: Community pool

Exterior

• Parking: Uncovered parking
• Security: Not specified
• Utilities: Sewer service available
• Home design: Two-story building; Zoned C1
• Construction: Composition roof; Slab foundation
• Exterior features: On a 0.35-acre site; Cross street: Miller

Interior

• Kitchen: Not specified
• Bedrooms: Mostly 2-bedroom units (14 units of this type)
• Flooring: Not specified
• Bathrooms: Mostly 1-bath units (14 units of this type)
• Heating & cooling: Floor or wall heaters; Other heating/cooling types listed
• Interior features: Tenant-occupied
• Laundry & utility: Laundry hookups available

What this means for you Summary

Snapshot

• This is a 16 × 2-bed/1-bath units multifamily listed at $1.20M.

Deal economics

• At list price, monthly cash flow is $7k ($84k/yr) — positive. Per door: $438/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($19k rent vs $1.20M).
• Recommended offer: $1.18M (1.5% below list) — sets the bar for market timing.
• Cap rate 13.3% vs local median 3.6% in Bakersfield — 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 (#716 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: health & safety D, schools D-, crime F.
• 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 fast (+6.8%/yr); 143 active listings in the ZIP; lower-income renter base — watch delinquency; 3,244 units permitted in Kern County in 2024 (73 in 5+ unit buildings).
• At $19,400/mo this rent would consume 538% of the median local household income ($43k/yr) (locally 2376% 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 $8k of loan paydown is wiped out by about $36k 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 + 6.8% rent growth), your $336k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($1.18M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 22y 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 $795k; list at $1.20M implies a 51% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,182,000 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-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: 1.62% ✓
• Cap rate: 13.31%
• Cash-on-cash: 25.05%
• DSCR: 2.11
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.79% rent growth · sell at horizon

5-year hold

• IRR: 22.8%
• Equity multiple: 1.98×
• Total profit: $329,319
• Equity at exit: $178,924

10-year hold

• IRR: 33.1%
• Equity multiple: 4.58×
• Total profit: $1,203,897
• Equity at exit: $103,754

Cash invested: $336,000 (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 93305

• Home prices YoY: -29.9%
• Rents YoY: 6.8%
• Active inventory: 143
• Price-to-rent: 82.5×

Monthly cashflow live

• Estimated rent: $19,400 high
• Mortgage (P&I): −$6,293
• Tax from tax record: −$1,520 /mo · $18,239/yr
• Insurance: −$500
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,074
• Net cashflow: $7,013

Break-even live

Break-even rent $10,523

Max offer price $1,200,000

Occupancy floor 59%

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

Units	Beds	Baths	Est. rent
▸ 16× units	2	1	$19,392
Total (16 units)			$19,400

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: $300,000
• Closing costs: $36,000
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $1,200,000 Active 17 DOM
2. 2026-06-17
   days on market $1,200,000 Active 16 DOM
3. 2026-06-16
   days on market $1,200,000 Active 15 DOM
4. 2026-06-15
   days on market $1,200,000 Active 14 DOM
5. 2026-06-14
   days on market $1,200,000 Active 12 DOM
6. 2026-06-10
   days on market $1,200,000 Active 9 DOM
7. 2026-06-09
   days on market $1,200,000 Active 8 DOM
8. 2026-06-08
   days on market $1,200,000 Active 7 DOM
9. 2026-06-07
   days on market $1,200,000 Active 6 DOM
10. 2026-06-05
    remarks 215-char remark
11. 2026-06-05
    days on market $1,200,000 Active 3 DOM
12. 2026-06-03
    days on market $1,200,000 Active 2 DOM
13. 2026-06-02
    remarks 149-char remark
14. 2026-06-02
    listed $1,200,000 Active 1 DOM

ⓘ 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: $18,239 · $1,520/mo
• Projected year-2 tax: $18,239 · $1,520/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 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°F today · 19 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: $232,800
• − Mortgage interest: −$67,219
• − Property taxes: −$18,239
• − Insurance: −$6,000
• − Repairs & maintenance: −$18,624
• − Management: −$18,624
• − Depreciation: −$34,909
• Taxable income: $69,185
• Est. tax owed @ 24.0%: −$16,605
• After-tax cash flow: $67,554/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 — Bakersfield

• Score: 58/100
• State rank: #716
• US rank: #21355

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bakersfield, CA
• County: Kern County · 710,371 people
• City population: 499,124
• Metro: Bakersfield, CA
• Population (ZIP): 37,714
• Household income: $43,244
• Rent vs Own: 65.8% rent · 34.2% own
• Severe rent burden: 2376.0

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 (76%)
• Race & ethnicity: Hispanic / Latino 76% Two or more races 18% White 16% Black 5% Native American 3%
• Hispanic origin (detail): Mexican 69% Puerto Rican 1%
• Common ancestry: Lithuanian 1% Serbian 1% Dutch 1%
• Foreign-born: 22% · Canada
• Languages at home: 45% English-only · Spanish 54%

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: ▼ -181.24%
• Current HPI: 424.6051
• Rent YoY: ▲ 6.79%
• 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

+50.9% since first listed

5 events — show timeline

• 2026-06-01 Listed $1,200,000 GEMLS
• 2004-11-12 Sold (Public Records) $795,000 Public Records
• 2004-11-12 Sold (MLS) $795,000 GEMLS
• 2004-06-28 Delisted — GEMLS
• 2004-06-23 Listed $795,000 GEMLS

Property tax history

+6.5%/yr

Latest (2025): $18,239 · +1.6% YoY. Source: county tax records.