505 Washington Ave · Oildale, CA 93308

$420,000

6 bd · 3.0 ba · 2,324 sqft · MultiFamily public records · 90 Days on market

Built 1975 6,098 sqft lot $181/sqft · 43% above area Est $294k · 43% over

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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 +17.7/30.0
• DSCR +5.5/10.0
• 1% rule +4.5/10.0
• 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
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Opportunity for a triplex in Oildale. Each unit is 2 bedrooms, 1 bath. Alley access. Uncovered parking. Close to local amenities - shopping, school, and area park.

Key facts

• Alley access
• Triplex
• Uncovered parking

Tags

• TRIPLEX
• ALLEY ACCESS
• UNCOVERED PARKING
• LOCAL AMENITIES

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1-bath units multifamily listed at $420k.

Deal economics

• At list price, monthly cash flow is $335 ($4k/yr) — positive. Per door: $112/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $398k (5.3% below list).
• Recommended offer: $395k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.2% 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+; 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.
• Zoned schools: Wingland Elementary (751 students, 89% FRL); Standard Middle (991 students, 88% FRL); North High (reading 75%, 2,214 students, 87% FRL) — zoned schools average 88% FRL vs 66% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.2%/yr); 313 active listings in the ZIP; 3,244 units permitted in Kern County in 2024 (73 in 5+ unit buildings).
• At $3,978/mo this rent would consume 76% of the median local household income ($62k/yr) (locally 2931% 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 $3k of loan paydown is wiped out by about $13k 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 90 days — a 6% lower offer ($395k) is reasonable based on typical stale-listing flexibility.
• 6 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 $160k; list at $420k implies a 162% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $394,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.95% ✗
• Cap rate: 7.25%
• Cash-on-cash: 3.42%
• DSCR: 1.15
• GRM: 8.8

CMA / ARV

• ARV (median comp): $293,585
• List price: $420,000
• Delta: 43.06%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
505 Woodrow Ave	0.06mi	6/3.0	2,324 (0%)	2mo	$355,000	$153	95
522 Lincoln Ave / 908 Yosemite	0.09mi	6/2.0	2,228 (-4%)	5mo	$240,000	$108	80
222 Harding	0.38mi	6/3.5	2,220 (-4%)	1mo	$428,000	$193	72
414 Washington Ave	0.10mi	6/4.0	2,464 (+6%)	14mo	$479,000	$194	70
622 Lincoln Ave	0.21mi	6/3.0	2,208 (-5%)	15mo	$382,000	$173	69
441 Sequoia Dr	0.39mi	6/2.0	2,332 (+0%)	13mo	$450,000	$193	66
619 Ann Arbor Dr	0.39mi	6/3.0	2,479 (+7%)	6mo	$340,000	$137	66
723 Lincoln Ave	0.34mi	6/3.0	2,117 (-9%)	7mo	$360,000	$170	63
338 Norris Rd	0.36mi	5/5.0 (-1)	2,388 (+3%)	3mo	$490,000	$205	63
820 Woodrow	0.46mi	7/3.0 (+1)	2,556 (+10%)	3mo	$545,000	$213	54
115 Arvin St	0.73mi	5/5.0 (-1)	2,420 (+4%)	2mo	$500,000	$207	45
1017 El Tejon Ave	0.71mi	5/5.0 (-1)	2,475 (+6%)	10mo	$465,000	$188	35

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 · 2.22% rent growth · sell at horizon

5-year hold

• IRR: -11.8%
• Equity multiple: 0.58×
• Total profit: $-49,835
• Equity at exit: $62,623

10-year hold

• IRR: -3.8%
• Equity multiple: 0.76×
• Total profit: $-28,450
• Equity at exit: $36,314

Cash invested: $117,600 (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: 313
• Price-to-rent: 26.4×

Monthly cashflow live

• Estimated rent: $3,978 high
• Mortgage (P&I): −$2,203
• Tax from tax record: −$430 /mo · $5,164/yr
• Insurance: −$175
• HOA: −$0
• Vacancy / Maint / Mgmt: −$835
• Net cashflow: $335

Break-even live

Break-even rent $3,554

Max offer price $420,000

Occupancy floor 87%

Sensitivity live

Price	-10% $572	-5% $454	+0% $335	+5% $216	+10% $97
Rent	-10% $20	-5% $178	+0% $335	+5% $492	+10% $649
Rate	-1.0pp $546	-0.5pp $442	base $335	+0.5pp $226	+1.0pp $115

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$3,978
Total (3 units)			$3,978

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: $105,000
• Closing costs: $12,600
• Reserves months: —
• Total cash needed: —

Listing history 36 events

1. 2026-06-18
   days on market $420,000 Active 90 DOM
2. 2026-06-17
   days on market $420,000 Active 89 DOM
3. 2026-06-16
   days on market $420,000 Active 88 DOM
4. 2026-06-15
   days on market $420,000 Active 87 DOM
5. 2026-06-14
   days on market $420,000 Active 85 DOM
6. 2026-06-10
   days on market $420,000 Active 82 DOM
7. 2026-06-09
   days on market $420,000 Active 81 DOM
8. 2026-06-08
   days on market $420,000 Active 80 DOM
9. 2026-06-07
   days on market $420,000 Active 79 DOM
10. 2026-06-05
    days on market $420,000 Active 76 DOM
11. 2026-06-03
    days on market $420,000 Active 75 DOM
12. 2026-06-03
    days on market $420,000 Active 74 DOM
13. 2026-06-01
    days on market $420,000 Active 73 DOM
14. 2026-05-31
    days on market $420,000 Active 72 DOM
15. 2026-04-28
    price $420,000 163-char remark

    Show marketing remark (163 chars)

    Opportunity for a triplex in Oildale. Each unit is 2 bedrooms, 1 bath. Alley access. Uncovered parking. Close to local amenities - shopping, school, and area park.

16. 2026-03-18
    listed $430,000 Active 163-char remark

    Show marketing remark (163 chars)

    Opportunity for a triplex in Oildale. Each unit is 2 bedrooms, 1 bath. Alley access. Uncovered parking. Close to local amenities - shopping, school, and area park.

17. 2025-04-22
    listed $450,000 Active
18. 2015-03-19
    soldstatus $160,000
19. 2015-03-19
    soldstatus $160,000
20. 2015-01-24
    historical
21. 2015-01-24
    price $165,000
22. 2015-01-16
    listed $160,000
23. 2013-03-05
    soldstatus $136,000
24. 2013-03-04
    soldstatus $136,000
25. 2013-02-25
    historical
26. 2013-02-25
    price $140,000
27. 2013-01-04
    listed $136,000
28. 2010-03-18
    soldstatus $110,000
29. 2010-03-18
    soldstatus $110,000
30. 2009-08-14
    historical
31. 2009-08-14
    listed $110,000
32. 2005-05-10
    soldstatus $270,000
33. 2005-05-10
    soldstatus $270,000
34. 2005-02-28
    historical
35. 2004-11-08
    listed $270,000
36. 1991-03-15
    soldstatus $89,000

ⓘ 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: $5,164 · $430/mo
• Projected year-2 tax: $5,164 · $430/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 · 16 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: $47,736
• − Mortgage interest: −$23,527
• − Property taxes: −$5,164
• − Insurance: −$2,100
• − Repairs & maintenance: −$3,819
• − Management: −$3,819
• − Depreciation: −$12,218
• Taxable loss: −$2,911
• Est. tax savings @ 24.0%: +$699
• After-tax cash flow: $4,715/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

+371.9% since first listed

22 events — show timeline

• 2026-04-28 Price Changed $420,000 GEMLS
• 2026-03-18 Listed $430,000 GEMLS
• 2025-04-22 Listed $450,000 GEMLS
• 2015-03-19 Sold (Public Records) $160,000 Public Records
• 2015-03-19 Sold (MLS) $160,000 GEMLS
• 2015-01-24 Price Changed $165,000 GEMLS
• 2015-01-24 Delisted — GEMLS
• 2015-01-16 Listed $160,000 GEMLS
• 2013-03-05 Sold (Public Records) $136,000 Public Records
• 2013-03-04 Sold (MLS) $136,000 GEMLS
• 2013-02-25 Price Changed $140,000 GEMLS
• 2013-02-25 Delisted — GEMLS
• 2013-01-04 Listed $136,000 GEMLS
• 2010-03-18 Sold (Public Records) $110,000 Public Records
• 2010-03-18 Sold (MLS) $110,000 GEMLS
• 2009-08-14 Listed $110,000 GEMLS
• 2009-08-14 Delisted — GEMLS
• 2005-05-10 Sold (Public Records) $270,000 Public Records
• 2005-05-10 Sold (MLS) $270,000 GEMLS
• 2005-02-28 Delisted — GEMLS
• 2004-11-08 Listed $270,000 GEMLS
• 1991-03-15 Sold (Public Records) $89,000 Public Records

Property tax history

+4.5%/yr

Latest (2025): $5,164 · +3.6% YoY. Source: county tax records.