6524 Lowry · Lake of the Woods, CA 93225

$385,000

1 bd · 2.4 ba · 676 sqft · MultiFamily public records · 245 Days on market

Built 1960 4,396 sqft lot $570/sqft · 172% above area Est $337k · 14% over

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Why this score? — see what drove the F 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 +8.5/30.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• Livability +2.2/5.0
• 1% rule +1.8/10.0
• ARV discount +1.1/15.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

This is a great investment property. Rent both units, or live in one and rent the other unit out. The front unit has a bright and roomie living room as you come in the front door. The kitchen is large with lots of counter space and has a dining area. The hall leads you to the bright and clean bedroom and bathroom. The front unit comes with a carport. The back unit has a large living room, spacious kitchen and 1/4 bath down stairs and two large bedrooms and full bath upstairs. This unit has a one car garage and a fully fenced yard. Both units have in house laundry areas. This duplex is located in a very desirable area. Our community has a lot to offer family's. Enjoy the four seasons, fresh air, and starry nights.

Key facts

• Front unit
• Back unit
• Dining area

Tags

• FRONT UNIT
• LARGE KITCHEN
• DINING AREA
• CLEAN BEDROOM
• CARPORT
• BACK UNIT

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $385k.

Deal economics

• At list price, monthly cash flow is $-339 ($-4k/yr) — negative. Per door: $-170/mo.
• To cash-flow at today's rent, offer at most $325k (15.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $263k (31.7% below list).
• Recommended offer: $263k (31.7% below list) — sets the bar for 1% rule.
• Cap rate 5.2% vs local median 3.5% in Lake of the Woods — 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 45/100 on livability (#1,303 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: employment D, crime F, amenities F.
• El Tejon Unified (rural): math 13% / reading 45% proficiency, ranked #361 of 517 in CA (top 70%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Frazier Park Elementary (244 students, 76% FRL); El Tejon Elementary (math 12% / reading 42%, grade F, #242 of 498 statewide, top 50%, 189 students, 87% FRL); Frazier Mountain High (math 15% / reading 64%, grade F, #520 of 1,170 statewide, top 45%, 253 students, 70% FRL) — zoned schools average 78% FRL vs 52% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 125 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 $3k of loan paydown is wiped out by about $12k 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 245 days — a 12% lower offer ($339k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 $385k implies a 141% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $262,800 (31.7% 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 245 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 0.68% ✗
• Cap rate: 5.24%
• Cash-on-cash: -3.78%
• DSCR: 0.83
• GRM: 12.2

CMA / ARV

• ARV (median comp): $337,020
• List price: $385,000
• Delta: 14.24%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -22.7%
• Equity multiple: 0.22×
• Total profit: $-84,107
• Equity at exit: $57,405

10-year hold

• IRR: -17.1%
• Equity multiple: 0.06×
• Total profit: $-101,516
• Equity at exit: $33,288

Cash invested: $107,800 (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 93225

• Home prices YoY: -5.5%
• Active inventory: 125
• Price-to-rent: 24.4×

Monthly cashflow live

• Estimated rent: $2,628 medium
• Mortgage (P&I): −$2,019
• Tax from tax record: −$236 /mo · $2,832/yr
• Insurance: −$160
• HOA: −$0
• Vacancy / Maint / Mgmt: −$552
• Net cashflow: $-339

Break-even live

Break-even rent $3,057

Max offer price $325,063

Occupancy floor —

Sensitivity live

Price	-10% $-121	-5% $-230	+0% $-339	+5% $-448	+10% $-557
Rent	-10% $-547	-5% $-443	+0% $-339	+5% $-235	+10% $-132
Rate	-1.0pp $-145	-0.5pp $-241	base $-339	+0.5pp $-439	+1.0pp $-541

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,628
Total (2 units)			$2,628

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: $96,250
• Closing costs: $11,550
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-22
   days on market $385,000 Active 245 DOM
2. 2026-06-18
   days on market $385,000 Active 242 DOM
3. 2026-06-17
   days on market $385,000 Active 241 DOM
4. 2026-06-16
   days on market $385,000 Active 240 DOM
5. 2026-06-15
   days on market $385,000 Active 239 DOM
6. 2026-06-14
   days on market $385,000 Active 237 DOM
7. 2026-06-13
   days on market $385,000 Active 236 DOM
8. 2026-06-10
   days on market $385,000 Active 234 DOM
9. 2026-06-09
   days on market $385,000 Active 233 DOM
10. 2026-06-08
    days on market $385,000 Active 232 DOM
11. 2026-06-07
    days on market $385,000 Active 231 DOM
12. 2026-06-05
    days on market $385,000 Active 228 DOM
13. 2026-06-03
    days on market $385,000 Active 227 DOM
14. 2026-06-03
    days on market $385,000 Active 226 DOM
15. 2026-06-01
    days on market $385,000 Active 225 DOM
16. 2026-05-31
    days on market $385,000 Active 224 DOM
17. 2025-10-19
    listed $385,000 Active 726-char remark

    Show marketing remark (726 chars)

    This is a great investment property. Rent both units, or live in one and rent the other unit out. The front unit has a bright and roomie living room as you come in the front door. The kitchen is large with lots of counter space and has a dining area. The hall leads you to the bright and clean bedroom and bathroom. The front unit comes with a carport. The back unit has a large living room, spacious kitchen and 1/4 bath down stairs and two large bedrooms and full bath upstairs. This unit has a one car garage and a fully fenced yard. Both units have in house laundry areas. This duplex is located in a very desirable area. Our community has a lot to offer family's. Enjoy the four seasons, fresh air, and starry nights.

18. 2025-06-16
    historical
19. 2024-07-16
    listed $385,000 Active
20. 2004-01-30
    soldstatus $160,000
21. 1996-06-14
    soldstatus $83,000
22. 1990-03-26
    soldstatus $105,000

ⓘ 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: $2,832 · $236/mo
• Projected year-2 tax: $2,926 · $244/mo
• Expected delta: +$94/yr (+$8/mo · 3.3%)

ⓘ 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 9/10 Extreme
• 🌡 Heat 3/10 Moderate 10 d/yr ≥86°F today · 26 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 14 unhealthy d/yr today · 18 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,536
• − Mortgage interest: −$21,566
• − Property taxes: −$2,832
• − Insurance: −$1,925
• − Repairs & maintenance: −$2,523
• − Management: −$2,523
• − Depreciation: −$11,200
• Taxable loss: −$11,033
• Est. tax savings @ 24.0%: +$2,648
• After-tax cash flow: $-1,424/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: El Tejon Unified
• NCES district ID: 0600026
• Math proficiency: 13% ▼ -12.00%
• Reading proficiency: 45% ▼ -2.00%
• Median HH income: $49,019
• Composite: 25.15/100
• National rank: #7519
• State rank: #361 of 517 in CA

Livability — Lake of the Woods

• Score: 45/100
• State rank: #1303
• US rank: #26614

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake of the Woods, CA
• Population (ZIP): 4,532

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 White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 14% Two or more races 8%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Slovak 5% Serbian 3% Portuguese 3%
• Foreign-born: 9% · Canada, South Korea
• Languages at home: 90% English-only · Spanish 8% 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: ▼ -20.47%
• Current HPI: 354.6398
• 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

+266.7% since first listed

6 events — show timeline

• 2025-10-19 Listed $385,000 CRMLS
• 2025-06-16 Listing Removed — CRMLS
• 2024-07-16 Listed $385,000 CRMLS
• 2004-01-30 Sold (Public Records) $160,000 Public Records
• 1996-06-14 Sold (Public Records) $83,000 Public Records
• 1990-03-26 Sold (Public Records) $105,000 Public Records

Property tax history

+10.5%/yr

Latest (2025): $2,832 · +1.1% YoY. Source: county tax records.