120 Cedarwood Ln · Oildale, CA 93308

$119,900

3 bd · 2.0 ba · 1,536 sqft · Manufactured · 139 Days on market

Built 1977 3,500 sqft lot $78/sqft · 14% above area Est $105k · 14% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• Rent growth +3.1/5.0
• Livability +2.9/5.0
• Appreciation +2.7/10.0
• Condition / age +2.5/5.0
• ARV discount +1.1/15.0
• Schools +1.0/10.0

Listing remarks MLS

Welcome to this beautifully renovated home offering 3 bedrooms, 2 bathrooms, and 1,536 square feet of thoughtfully updated living space, ideally situated within the Riverdale Village community. Inside, natural light and fresh interior and exterior paint create a warm, inviting atmosphere throughout. The home features stylish wood-like flooring paired with newer carpet, refreshed appliances, tile countertops throughout, and updated kitchen cabinetry with breakfast bar seating, ideal for everyday living and entertaining. Enjoy the comfort of a newer HVAC system and roof, along with the ease of a dedicated indoor laundry room. The refreshed bathrooms offer a clean, modern feel, highlighted by two-toned cabinetry and a tub in the primary bathroom for added comfort. Residents enjoy access to resort-style community amenities including a sparkling pool, fitness center, beautifully maintained parks, dog stations, and a recreation room perfect for gatherings. Check this one out!

Key facts

• Renovated home
• Newer carpet
• Wood-like flooring

Tags

• RENOVATED HOME
• WOOD-LIKE FLOORING
• NEWER CARPET
• UPDATED KITCHEN CABINETRY
• BREAKFAST BAR SEATING
• NEWER HVAC SYSTEM

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $120k.

Deal economics

• At list price, monthly cash flow is $574 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.0% 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.
• Beardsley Elementary (suburban): math 7% / reading 18% proficiency, ranked #501 of 517 in CA (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Beardsley Elementary (math 2% / reading 8%, grade F, #1,564 of 1,571 statewide, top 100%, 421 students, 98% FRL); Beardsley Junior High (math 8% / reading 22%, grade F, #461 of 498 statewide, top 93%, 400 students, 94% FRL); North High (reading 75%, 2,214 students, 87% FRL) — zoned schools average 93% FRL vs 76% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.2%/yr); 313 active listings in the ZIP; 11 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).
• This rent runs 34% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k 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 + 2.2% rent growth), your $34k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 139 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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: extreme-heat days projected 6→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 139 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 1.48% ✓
• Cap rate: 12.04%
• Cash-on-cash: 20.53%
• DSCR: 1.91
• GRM: 5.6

CMA / ARV

• ARV (median comp): $104,890
• List price: $119,900
• Delta: 14.31%
• Verdict: OVERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
137 Fernwood Ln	0.10mi	3/2.0	1,524 (-1%)	10mo	$120,000	$79	86
115 Cedarwood Ln	0.02mi	3/2.0	1,440 (-6%)	8mo	$115,000	$80	82
225 Vivian Ln	0.07mi	3/2.0	1,440 (-6%)	9mo	$81,000	$56	78
156 Hickorywood Ln	0.16mi	3/2.0	1,440 (-6%)	10mo	$115,000	$80	74
210 Dogwood Ln	0.11mi	4/2.0 (+1)	1,440 (-6%)	8mo	$112,500	$78	73
159 Hickorywood Ln	0.16mi	4/2.0 (+1)	1,344 (-12%)	3mo	$99,000	$74	64
316 Nita	0.12mi	4/2.0 (+1)	1,344 (-12%)	7mo	$82,500	$61	62
101 Cinnamon Ln	0.07mi	3/2.0	1,344 (-12%)	21mo	$85,000	$63	58
153 Hickorywood Ln	0.16mi	2/2.0 (-1)	1,375 (-10%)	15mo	$38,000	$28	57
278 Teakwood Ln	0.14mi	3/2.0	1,344 (-12%)	21mo	$104,900	$78	55
170 Hickorywood Ln	0.21mi	2/2.0 (-1)	1,320 (-14%)	19mo	$95,000	$72	46

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: 12.0%
• Equity multiple: 1.47×
• Total profit: $15,793
• Equity at exit: $17,877

10-year hold

• IRR: 20.3%
• Equity multiple: 2.65×
• Total profit: $55,374
• Equity at exit: $10,367

Cash invested: $33,572 (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: 5.6×

Monthly cashflow live

• Estimated rent: $1,776 high
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,798/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $574

Break-even live

Break-even rent $1,049

Max offer price $119,900

Occupancy floor 63%

Sensitivity live

Price	-10% $657	-5% $616	+0% $574	+5% $533	+10% $491
Rent	-10% $434	-5% $504	+0% $574	+5% $644	+10% $715
Rate	-1.0pp $635	-0.5pp $605	base $574	+0.5pp $543	+1.0pp $512

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
627 Hood Dr Bakersfield, CA	3.0	1.0	1140	$1,795	$1.57	4d	1	0.30mi
448 S Oildale Dr Bakersfield, CA	3.0	2.0	1080	$1,500	$1.39	4d	1	0.49mi
930 Olive Dr Bakersfield, CA	4.0	2.5	1544	$2,250	$1.46	23d	1	0.55mi
223 McCord Ave Bakersfield, CA	3.0	2.0	1536	$1,795	$1.17	4d	1	0.67mi
222 Harding Ave Unit B Bakersfield, CA	3.0	2.0	1100	$1,750	$1.59	4d	1	0.76mi
901 Castaic Ave Bakersfield, CA	2.0	1.0	1076	$1,700	$1.58	4d	1	0.89mi
1207 El Tejon Ave Unit 1 Bakersfield, CA	3.0	1.0	1212	$1,950	$1.61	4d	1	0.97mi
106 E Warren Ave Bakersfield, CA	3.0	2.0	1169	$1,400	$1.20	12d	1	1.05mi
3200 El Encanto Ct #1 Bakersfield, CA	3.0	2.0	2116	$2,100	$0.99	4d	1	1.06mi
709 Francis St Bakersfield, CA	3.0	1.0	1300	$1,400	$1.08	45d	1	1.06mi
411 Highland Dr Bakersfield, CA	2.0	1.0	1051	$1,650	$1.57	4d	1	1.40mi

Listing history 17 events

1. 2026-06-22
   days on market $119,900 Active 139 DOM
2. 2026-06-18
   days on market $119,900 Active 136 DOM
3. 2026-06-17
   days on market $119,900 Active 135 DOM
4. 2026-06-16
   days on market $119,900 Active 134 DOM
5. 2026-06-15
   days on market $119,900 Active 133 DOM
6. 2026-06-14
   days on market $119,900 Active 131 DOM
7. 2026-06-10
   days on market $119,900 Active 128 DOM
8. 2026-06-09
   days on market $119,900 Active 127 DOM
9. 2026-06-08
   days on market $119,900 Active 126 DOM
10. 2026-06-07
    days on market $119,900 Active 125 DOM
11. 2026-06-05
    days on market $119,900 Active 122 DOM
12. 2026-06-03
    days on market $119,900 Active 121 DOM
13. 2026-06-03
    days on market $119,900 Active 120 DOM
14. 2026-06-01
    days on market $119,900 Active 119 DOM
15. 2026-05-31
    days on market $119,900 Active 118 DOM
16. 2026-02-02
    listed $119,900 Active 984-char remark

    Show marketing remark (984 chars)

    Welcome to this beautifully renovated home offering 3 bedrooms, 2 bathrooms, and 1,536 square feet of thoughtfully updated living space, ideally situated within the Riverdale Village community. Inside, natural light and fresh interior and exterior paint create a warm, inviting atmosphere throughout. The home features stylish wood-like flooring paired with newer carpet, refreshed appliances, tile countertops throughout, and updated kitchen cabinetry with breakfast bar seating, ideal for everyday living and entertaining. Enjoy the comfort of a newer HVAC system and roof, along with the ease of a dedicated indoor laundry room. The refreshed bathrooms offer a clean, modern feel, highlighted by two-toned cabinetry and a tub in the primary bathroom for added comfort. Residents enjoy access to resort-style community amenities including a sparkling pool, fitness center, beautifully maintained parks, dog stations, and a recreation room perfect for gatherings. Check this one out!

17. 2026-02-02
    listed $119,900 Active 984-char remark

    Show marketing remark (984 chars)

    Welcome to this beautifully renovated home offering 3 bedrooms, 2 bathrooms, and 1,536 square feet of thoughtfully updated living space, ideally situated within the Riverdale Village community. Inside, natural light and fresh interior and exterior paint create a warm, inviting atmosphere throughout. The home features stylish wood-like flooring paired with newer carpet, refreshed appliances, tile countertops throughout, and updated kitchen cabinetry with breakfast bar seating, ideal for everyday living and entertaining. Enjoy the comfort of a newer HVAC system and roof, along with the ease of a dedicated indoor laundry room. The refreshed bathrooms offer a clean, modern feel, highlighted by two-toned cabinetry and a tub in the primary bathroom for added comfort. Residents enjoy access to resort-style community amenities including a sparkling pool, fitness center, beautifully maintained parks, dog stations, and a recreation room perfect for gatherings. Check this one out!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 8/10 Severe 6 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: $21,310
• − Mortgage interest: −$6,716
• − Property taxes: −$1,798
• − Insurance: −$600
• − Repairs & maintenance: −$1,705
• − Management: −$1,705
• − Depreciation: −$3,488
• Taxable income: $5,298
• Est. tax owed @ 24.0%: −$1,272
• After-tax cash flow: $5,620/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: Beardsley Elementary
• NCES district ID: 0604260
• Math proficiency: 7% ▼ -12.00%
• Reading proficiency: 18% ▼ -16.00%
• Median HH income: $28,808
• Composite: 9.63/100
• National rank: #9841
• State rank: #501 of 517 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

+0.0% since first listed

2 events — show timeline

• 2026-02-02 Listed $119,900 CRMLS
• 2026-02-02 Listed $119,900 GEMLS