2304 Castro Ln · Bakersfield, CA 93304

$275,000

4 bd · 2.0 ba · 1,127 sqft · SingleFamily public records · 53 Days on market

Built 1956 6,098 sqft lot $244/sqft · 10% below area Est $305k · 10% under ↓ 5% since listing

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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).

• Cash flow +12.4/30.0
• ARV discount +11.9/15.0
• Schools +4.2/10.0
• DSCR +3.7/10.0
• Livability +2.9/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

DEAR BUYER: We have a Motivated seller, cosmetic fixer (need some updates) located within walking distance to the Valley Plaza Mall. This home offers 1,127 sq. ft. of living space with 3 bedrooms and 2 baths. . The property includes an indoor laundry. The home is situated in a well-established neighborhood. Conveniently located near Schools, Freeways, Supermarkets, Gas sations, Gym, Restaurnts, etc. Making this property a great opportunity for investors or first buyers. Buyer can easily convert this property into a 4th bedrooms, it was originally built as a 4 bedroom, the sellers removed 1 wall making it a 3 beroom house.

Key facts

• Indoor laundry
• 6,098 sq ft lot
• 2 garage spots

Tags

• INDOOR LAUNDRY
• WELL-ESTABLISHED NEIGHBORHOOD
• CONVENIENTLY LOCATED NEAR GYM

Property features AI

Finance

• Other: Accessible parking available
• HOA & community: Community features include curbs and sidewalks

Exterior

• Parking: Attached garage; Garage with 2 parking spaces; Access via paved city streets
• Utilities: Standard electric service; Natural gas available; Public/District water; Public sewer
• Home design: House; Shingle roof; No accessory dwelling unit (ADU); No shared/common walls
• Construction: Year built source: Assessor; Living area source: Assessor; Parcel number available
• Exterior features: No pool; Lot appears to be 0–1 unit per acre; Curbs and sidewalks in the community

Interior

• Bedrooms: All bedrooms on the main level
• Flooring: See remarks for flooring details
• Bathrooms: Two full bathrooms; Bathtub in at least one bathroom
• Heating & cooling: Central furnace heating; Central air conditioning
• Interior features: One-level entry; Entry on main level; Single-story home; Main level has one bathroom and three bedrooms; Bathtub
• Laundry & utility: No laundry features listed

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $275k.

Deal economics

• At list price, monthly cash flow is $-43 ($-522/yr) — negative.
• To cash-flow at today's rent, offer at most $267k (2.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $205k (25.6% below list).
• Recommended offer: $205k (25.6% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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, crime F, amenities F.
• Panama-Buena Vista Union (urban): math 37% / reading 52% proficiency, ranked #542 of 1,400 in CA (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Amy B. Seibert Elementary (641 students, 94% FRL); Fred L. Thompson Junior High (728 students, 93% FRL); West High (reading 90%, 2,025 students, 91% FRL) — zoned schools average 93% FRL vs 51% district-wide (42 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-1.7%/yr); 157 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 3,244 units permitted in Kern County in 2024 (73 in 5+ unit buildings).
• At $2,045/mo this rent would consume 48% of the median local household income ($51k/yr) (locally 2587% 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 $2k of loan paydown is wiped out by about $8k 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 53 days — a 3% lower offer ($267k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• 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 $204,542 (25.6% 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 53 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Built in 1956 — 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. 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: 0.74% ✗
• Cap rate: 6.10%
• Cash-on-cash: -0.68%
• DSCR: 0.97
• GRM: 11.2

CMA / ARV

• ARV (median comp): $304,925
• List price: $275,000
• Delta: -9.81%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2500 Blackstone Ct	0.12mi	3/1.8 (-1)	1,147 (+2%)	5mo	$312,000	$272	81
1915 Benton St	0.38mi	3/2.0 (-1)	1,152 (+2%)	7mo	$265,000	$230	68
1704 Anita Ln	0.57mi	3/2.0 (-1)	1,092 (-3%)	2mo	$315,000	$288	62
1708 Anita Ln	0.57mi	3/1.5 (-1)	1,092 (-3%)	1mo	$305,000	$279	60
1913 Ming Ave	0.68mi	3/2.0 (-1)	1,092 (-3%)	2mo	$305,000	$279	56
1709 Hodges Ave	0.75mi	3/2.0 (-1)	1,092 (-3%)	3mo	$340,000	$311	52
1917 Clark Ave	0.55mi	3/1.0 (-1)	1,032 (-8%)	1mo	$273,000	$265	50
1317 Edna St	0.70mi	4/1.0	1,069 (-5%)	6mo	$282,500	$264	49
3520 Planz	0.73mi	3/2.0 (-1)	1,210 (+7%)	1mo	$359,000	$297	48
3413 Reeder Ave	0.67mi	3/2.0 (-1)	1,210 (+7%)	5mo	$329,000	$272	47
3117 Agate St	0.52mi	3/2.0 (-1)	1,292 (+15%)	2mo	$295,000	$228	45
3609 Granada Ave	0.74mi	3/1.0 (-1)	1,052 (-7%)	2mo	$304,000	$289	43

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -20.4%
• Equity multiple: 0.31×
• Total profit: $-53,443
• Equity at exit: $41,003

10-year hold

• IRR: -20.8%
• Equity multiple: 0.04×
• Total profit: $-73,745
• Equity at exit: $23,777

Cash invested: $77,000 (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 93304

• Rents YoY: -1.7%
• Active inventory: 157
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $2,045 high
• Mortgage (P&I): −$1,442
• Tax from tax record: −$103 /mo · $1,232/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $-43

Break-even live

Break-even rent $2,100

Max offer price $267,319

Occupancy floor 97%

Sensitivity live

Price	-10% $112	-5% $34	+0% $-43	+5% $-121	+10% $-199
Rent	-10% $-205	-5% $-124	+0% $-43	+5% $37	+10% $118
Rate	-1.0pp $95	-0.5pp $26	base $-43	+0.5pp $-115	+1.0pp $-187

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2312 Castro Ln Bakersfield, CA	3.0	2.0	1127	$2,100	$1.86	4d	1	0.04mi
3013 Alma Way Bakersfield, CA	3.0	2.0	1151	$2,100	$1.82	4d	1	0.13mi
2704 Villalovos Ct Unit 2 Bakersfield, CA	3.0	2.0	1092	$1,650	$1.51	45d	1	0.30mi
2805 Cambria Ave Bakersfield, CA	3.0	1.5	1395	$2,050	$1.47	4d	1	0.49mi
1928 Doolittle Ave Bakersfield, CA	3.0	2.0	1142	$2,100	$1.84	21d	1	0.51mi
2109 Belvedere Ave Bakersfield, CA	4.0	2.0	1480	$2,200	$1.49	4d	1	0.59mi
1821 Lacey St Unit H Bakersfield, CA	3.0	2.0	1350	$2,150	$1.59	45d	1	0.77mi
1821 Lacey St Apt J Bakersfield, CA	3.0	2.0	1350	$2,150	$1.59	4d	1	0.79mi
2313 San Lorenzo Ave Bakersfield, CA	3.0	2.0	1386	$2,095	$1.51	4d	1	0.85mi
2801 El Berrendo Ave Unit 1 Bakersfield, CA	3.0	2.0	1491	$2,395	$1.61	16d	1	0.89mi
1409 Lindsay Dr Bakersfield, CA	3.0	1.0	1049	$2,200	$2.10	4d	1	0.97mi
3608 Balboa Dr Bakersfield, CA	3.0	1.5	1051	$2,195	$2.09	4d	1	1.15mi
4508 Planz Rd Apt A Bakersfield, CA	3.0	2.0	1400	$1,700	$1.21	4d	1	1.22mi
3720 Apache Ave Unit A Bakersfield, CA	3.0	1.0	1048	$2,000	$1.91	4d	1	1.26mi
3920 Navajo Ave Bakersfield, CA	3.0	1.5	1068	$2,100	$1.97	5d	1	1.28mi
515 Cherokee Dr Bakersfield, CA	3.0	1.0	1420	$1,999	$1.41	4d	1	1.30mi
3401 Starwood Ln Bakersfield, CA	3.0	2.0	1293	$1,750	$1.35	12d	1	1.32mi
4208 White Ln Apt B Bakersfield, CA	3.0	2.5	1200	$1,575	$1.31	12d	1	1.41mi
4208 White Ln Unit A Bakersfield, CA	3.0	2.5	1200	$1,575	$1.31	4d	1	1.41mi
4309 Rosewall St Bakersfield, CA	3.0	2.0	1356	$2,200	$1.62	4d	1	1.42mi
5051 Ming Ave Bakersfield, CA	1.0–3.0	1.0–2.0	925	$1,695	$1.83	4d	9	1.44mi
5204 Curson Ave Bakersfield, CA	3.0	2.0	1232	$2,050	$1.66	12d	1	1.44mi
4700 Nordic Dr Unit 1 Bakersfield, CA	3.0	2.0	1197	$1,800	$1.50	4d	1	1.48mi
4505 Gardenwood Ln Bakersfield, CA	3.0	2.5	1385	$2,295	$1.66	4d	1	1.49mi

Listing history 18 events

1. 2026-06-22
   days on market $275,000 Active 53 DOM
2. 2026-06-18
   days on market $275,000 Active 50 DOM
3. 2026-06-17
   days on market $275,000 Active 49 DOM
4. 2026-06-16
   days on market $275,000 Active 48 DOM
5. 2026-06-15
   days on market $275,000 Active 47 DOM
6. 2026-06-14
   days on market $275,000 Active 45 DOM
7. 2026-06-13
   days on market $275,000 Active 44 DOM
8. 2026-06-10
   days on market $275,000 Active 42 DOM
9. 2026-06-09
   days on market $275,000 Active 41 DOM
10. 2026-06-08
    days on market $275,000 Active 40 DOM
11. 2026-06-07
    days on market $275,000 Active 39 DOM
12. 2026-06-05
    days on market $275,000 Active 36 DOM
13. 2026-06-03
    days on market $275,000 Active 35 DOM
14. 2026-06-03
    days on market $275,000 Active 34 DOM
15. 2026-06-01
    days on market $275,000 Active 33 DOM
16. 2026-05-31
    days on market $275,000 Active 32 DOM
17. 2026-04-29
    listed $290,000 Active 630-char remark
18. 2026-04-28
    listed $290,000 Active 629-char remark

    Show marketing remark (629 chars)

    DEAR BUYER: We have a Motivated seller, cosmetic fixer (need some updates) located within walking distance to the Valley Plaza Mall. This home offers 1,127 sq. ft. of living space with 3 bedrooms and 2 baths. . The property includes an indoor laundry. The home is situated in a well-established neighborhood. Conveniently located near Schools, Freeways, Supermarkets, Gas sations, Gym, Restaurnts, etc. Making this property a great opportunity for investors or first buyers. Buyer can easily convert this property into a 4th bedrooms, it was originally built as a 4 bedroom, the sellers removed 1 wall making it a 3 beroom house.

ⓘ 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: $1,232 · $103/mo
• Projected year-2 tax: $2,090 · $174/mo
• Expected delta: +$858/yr (+$72/mo · 69.7%)

ⓘ 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 (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 33 unhealthy d/yr today · 37 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,545
• − Mortgage interest: −$15,404
• − Property taxes: −$1,232
• − Insurance: −$1,375
• − Repairs & maintenance: −$1,964
• − Management: −$1,964
• − Depreciation: −$8,000
• Taxable loss: −$5,393
• Est. tax savings @ 24.0%: +$1,294
• After-tax cash flow: $773/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: Panama-Buena Vista Union
• NCES district ID: 0606390
• Math proficiency: 37% ▲ 3.00%
• Reading proficiency: 52% ▲ 1.00%
• Median HH income: $63,361
• Composite: 41.71/100
• National rank: #7191
• State rank: #542 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): 51,037
• Household income: $50,790
• Rent vs Own: 53.9% rent · 46.1% own
• Severe rent burden: 2587.0

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 (71%)
• Race & ethnicity: Hispanic / Latino 71% Two or more races 18% White 14% Black 9% Asian 3% Native American 2%
• Hispanic origin (detail): Mexican 65%
• Foreign-born: 22% · Canada, China
• Languages at home: 48% English-only · Spanish 49% Other Asian/Pacific 1% Tagalog/Filipino 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: ▼ -314.78%
• Current HPI: 397.9557
• Rent YoY: ▼ -1.68%
• 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

-5.2% since first listed

4 events — show timeline

• 2026-05-29 Price Changed $275,000 CRMLS
• 2026-05-29 Price Changed $275,000 GEMLS
• 2026-04-29 Listed $290,000 CRMLS
• 2026-04-28 Listed $290,000 GEMLS

Property tax history

+3.5%/yr

Latest (2025): $1,232 · +2.7% YoY. Source: county tax records.