221 Universe Ave · Oildale, CA 93308

$280,000

4 bd · 2.0 ba · 1,632 sqft · MultiFamily public records · 60 Days on market

Built 1979 8,276 sqft lot $172/sqft · 6% below area Est $297k · 6% under

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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 +23.4/30.0
• ARV discount +10.1/15.0
• DSCR +7.5/10.0
• 1% rule +5.8/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Investor opportunity! This property is 2 units located in North Bakersfield. Both units have 2 bedrooms and 1 bath each. One unit is currently tenant occupied and one is vacant. Buyer must assume the current tenant and take the property in As-Is condition. Combined square footage of the units is 1,632 and the total lot size is 8,276.

Key facts

• As-is condition
• Tenant occupied
• 2 units

Tags

• 2 UNITS
• NORTH BAKERSFIELD
• TENANT OCCUPIED
• VACANT
• AS-IS CONDITION

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $280k.

Deal economics

• At list price, monthly cash flow is $517 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $280k).
• Recommended offer: $272k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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+, schools B+; 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.
• Market conditions: Rents rising (+2.2%/yr); 312 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 3,244 units permitted in Kern County in 2024 (73 in 5+ unit buildings).
• At $3,011/mo this rent would consume 58% 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 $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 60 days — a 3% lower offer ($272k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 33y 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.

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 $271,600 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.08% ✓
• Cap rate: 8.51%
• Cash-on-cash: 7.91%
• DSCR: 1.35
• GRM: 7.7

CMA / ARV

• ARV (median comp): $296,943
• List price: $280,000
• Delta: -5.71%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
618 Spring Meadow Ct	0.66mi	4/2.0	1,590 (-3%)	23mo	$451,500	$284	45

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: -5.1%
• Equity multiple: 0.81×
• Total profit: $-14,816
• Equity at exit: $41,749

10-year hold

• IRR: 3.6%
• Equity multiple: 1.26×
• Total profit: $19,993
• Equity at exit: $24,209

Cash invested: $78,400 (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: 312
• Price-to-rent: 15.5×

Monthly cashflow live

• Estimated rent: $3,011 high
• Mortgage (P&I): −$1,468
• Tax from tax record: −$277 /mo · $3,325/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$632
• Net cashflow: $517

Break-even live

Break-even rent $2,357

Max offer price $280,000

Occupancy floor 78%

Sensitivity live

Price	-10% $675	-5% $596	+0% $517	+5% $437	+10% $358
Rent	-10% $279	-5% $398	+0% $517	+5% $635	+10% $754
Rate	-1.0pp $658	-0.5pp $588	base $517	+0.5pp $444	+1.0pp $370

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,012
Total (2 units)			$3,011

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: $70,000
• Closing costs: $8,400
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
208 Electra Ave Bakersfield, CA	3.0	2.0	1614	$2,000	$1.24	44d	1	0.49mi
2001 Bedford Way Bakersfield, CA	4.0	2.0	1500	$2,500	$1.67	4d	1	0.54mi
549 Yellow Meadow Ct Unit D Bakersfield, CA	3.0	2.0	1200	$1,825	$1.52	24d	1	0.54mi
2609 Violet Ct Bakersfield, CA	3.0	2.0	1471	$2,100	$1.43	44d	1	0.55mi
524 Sunset Meadow Ln Bakersfield, CA	4.0	2.0	1346	$2,150	$1.60	3d	1	0.59mi
2413 Ashby St Unit 1 Bakersfield, CA	3.0	1.0	1230	$1,750	$1.42	15d	1	0.59mi
530 Sunset Meadow Ln Bakersfield, CA	3.0	2.0	1116	$2,050	$1.84	3d	1	0.59mi
706 Orchid Dr Apt A Bakersfield, CA	3.0	2.0	1233	$1,900	$1.54	3d	1	0.64mi
2309 Manor St Bakersfield, CA	3.0	1.0	1090	$1,725	$1.58	3d	1	0.69mi
805 Sunset Meadow Ln Bakersfield, CA	3.0	2.0	1163	$2,050	$1.76	3d	1	0.83mi
709 Francis St Bakersfield, CA	3.0	1.0	1300	$1,400	$1.08	44d	1	0.97mi
106 E Warren Ave Bakersfield, CA	3.0	2.0	1169	$1,400	$1.20	11d	1	1.28mi
222 Harding Ave Unit B Bakersfield, CA	3.0	2.0	1100	$1,750	$1.59	3d	1	1.33mi

Listing history 18 events

1. 2026-06-21
   days on market $280,000 Active 60 DOM
2. 2026-06-18
   days on market $280,000 Active 57 DOM
3. 2026-06-17
   days on market $280,000 Active 56 DOM
4. 2026-06-16
   days on market $280,000 Active 55 DOM
5. 2026-06-15
   days on market $280,000 Active 54 DOM
6. 2026-06-14
   days on market $280,000 Active 52 DOM
7. 2026-06-10
   days on market $280,000 Active 49 DOM
8. 2026-06-09
   days on market $280,000 Active 48 DOM
9. 2026-06-08
   days on market $280,000 Active 47 DOM
10. 2026-06-07
    days on market $280,000 Active 46 DOM
11. 2026-06-05
    days on market $280,000 Active 43 DOM
12. 2026-06-03
    days on market $280,000 Active 42 DOM
13. 2026-06-03
    days on market $280,000 Active 41 DOM
14. 2026-06-01
    days on market $280,000 Active 40 DOM
15. 2026-05-31
    days on market $280,000 Active 39 DOM
16. 2026-04-22
    listed $280,000 Active 335-char remark

    Show marketing remark (335 chars)

    Investor opportunity! This property is 2 units located in North Bakersfield. Both units have 2 bedrooms and 1 bath each. One unit is currently tenant occupied and one is vacant. Buyer must assume the current tenant and take the property in As-Is condition. Combined square footage of the units is 1,632 and the total lot size is 8,276.

17. 1993-06-12
    historical
18. 1993-02-18
    listed $85,000

ⓘ 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: $3,325 · $277/mo
• Projected year-2 tax: $3,325 · $277/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: $36,132
• − Mortgage interest: −$15,684
• − Property taxes: −$3,325
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,891
• − Management: −$2,891
• − Depreciation: −$8,145
• Taxable income: $1,796
• Est. tax owed @ 24.0%: −$431
• After-tax cash flow: $5,768/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

+229.4% since first listed

3 events — show timeline

• 2026-04-22 Listed $280,000 GEMLS
• 1993-06-12 Delisted — GEMLS
• 1993-02-18 Listed $85,000 GEMLS

Property tax history

+3.9%/yr

Latest (2025): $3,325 · +3.7% YoY. Source: county tax records.