113 Hopkins Ave · Oildale, CA 93308

$655,000

None bd · None ba · 2,430 sqft · MultiFamily public records · 136 Days on market

Built 1926 9,583 sqft lot $270/sqft · 86% above area

---

Why this score? — see what drove the B- 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 +9.3/10.0
• ARV discount +7.5/15.0
• Rent growth +3.1/5.0
• Livability +2.9/5.0
• Appreciation +2.7/10.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 8 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Renovated 8-unit multifamily investment located in North Bakersfield, featuring a strong unit mix of five 2BR/1BA units and three studio units. Seller financing available, offering flexible terms for investors seeking steady cash flow, strong rental demand, and long-term upside.

Key facts

• Strong unit mix
• 9,583 sq ft lot
• Built 1926

Tags

• STRONG UNIT MIX

What this means for you Summary

Snapshot

• This is a 8 × 2.0-bed/1.0-bath units multifamily listed at $655k.

Deal economics

• At list price, monthly cash flow is $3k ($31k/yr) — positive. Per door: $328/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $655k).
• Recommended offer: $576k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.1% 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.
• 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.
• Market conditions: Rents rising (+2.2%/yr); 307 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 3,244 units permitted in Kern County in 2024 (73 in 5+ unit buildings).
• At $9,339/mo this rent would consume 179% 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 $5k of loan paydown is wiped out by about $20k 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 $183k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 136 days — a 12% lower offer ($576k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 23y 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

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $576,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 136 days. Have you received any prior offers? Is the seller open to a 12% 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 1926 — 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. 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.
10. 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.
11. 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: 1.43% ✓
• Cap rate: 11.10%
• Cash-on-cash: 17.17%
• DSCR: 1.76
• GRM: 5.8

CMA / ARV

• ARV (median comp): $352,997
• List price: $655,000
• Delta: 85.55%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
129 Hart St	0.08mi	5/4.0	2,410 (-1%)	10mo	$391,000	$162	86
222 Harding	0.51mi	6/3.5	2,220 (-9%)	1mo	$428,000	$193	61
110 Cooper Ave	0.63mi	4/2.0	2,230 (-8%)	6mo	$301,000	$135	52
713 Iris St	0.56mi	6/3.0	2,407 (-1%)	24mo	$390,000	$162	52
3817 K St	0.73mi	—/—	2,388 (-2%)	14mo	$412,000	$173	51
142 Cooper Ave	0.63mi	4/4.0	2,130 (-12%)	23mo	$450,000	$211	31

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: 7.6%
• Equity multiple: 1.29×
• Total profit: $53,968
• Equity at exit: $97,663

10-year hold

• IRR: 16.2%
• Equity multiple: 2.28×
• Total profit: $233,922
• Equity at exit: $56,632

Cash invested: $183,400 (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: 307
• Price-to-rent: 46.8×

Monthly cashflow live

• Estimated rent: $9,339 medium
• Mortgage (P&I): −$3,435
• Tax from tax record: −$1,046 /mo · $12,557/yr
• Insurance: −$273
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,961
• Net cashflow: $2,624

Break-even live

Break-even rent $6,018

Max offer price $655,000

Occupancy floor 67%

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

Units	Beds	Baths	Est. rent
▸ 8× units	2.0	1	$9,336
Total (8 units)			$9,339

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: $163,750
• Closing costs: $19,650
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3200 El Encanto Ct #1 Bakersfield, CA	3.0	2.0	2116	$2,100	$0.99	2d	1	1.13mi
130 El Cerrito Dr Bakersfield, CA	3.0	2.0	1767	$2,750	$1.56	44d	1	1.18mi

Listing history 26 events

1. 2026-06-18
   days on market $655,000 Active 136 DOM
2. 2026-06-17
   days on market $655,000 Active 135 DOM
3. 2026-06-16
   days on market $655,000 Active 134 DOM
4. 2026-06-15
   days on market $655,000 Active 133 DOM
5. 2026-06-14
   days on market $655,000 Active 131 DOM
6. 2026-06-10
   days on market $655,000 Active 128 DOM
7. 2026-06-09
   days on market $655,000 Active 127 DOM
8. 2026-06-08
   days on market $655,000 Active 126 DOM
9. 2026-06-07
   days on market $655,000 Active 125 DOM
10. 2026-06-05
    days on market $655,000 Active 122 DOM
11. 2026-06-03
    days on market $655,000 Active 121 DOM
12. 2026-06-03
    days on market $655,000 Active 120 DOM
13. 2026-06-01
    days on market $655,000 Active 119 DOM
14. 2026-05-31
    days on market $655,000 Active 118 DOM
15. 2026-02-17
    status Active 279-char remark

    Show marketing remark (279 chars)

    Renovated 8-unit multifamily investment located in North Bakersfield, featuring a strong unit mix of five 2BR/1BA units and three studio units. Seller financing available, offering flexible terms for investors seeking steady cash flow, strong rental demand, and long-term upside.

16. 2026-01-13
    status Pending 279-char remark

    Show marketing remark (279 chars)

    Renovated 8-unit multifamily investment located in North Bakersfield, featuring a strong unit mix of five 2BR/1BA units and three studio units. Seller financing available, offering flexible terms for investors seeking steady cash flow, strong rental demand, and long-term upside.

17. 2025-12-22
    listed $675,000 Active 279-char remark

    Show marketing remark (279 chars)

    Renovated 8-unit multifamily investment located in North Bakersfield, featuring a strong unit mix of five 2BR/1BA units and three studio units. Seller financing available, offering flexible terms for investors seeking steady cash flow, strong rental demand, and long-term upside.

18. 2023-12-20
    soldstatus $590,000
19. 2021-03-30
    soldstatus $320,000
20. 2019-10-31
    historical
21. 2019-08-01
    listed $399,000 Active
22. 2003-11-12
    soldstatus $215,000
23. 2003-11-07
    soldstatus $215,000
24. 2003-08-12
    price $225,000
25. 2003-08-12
    historical
26. 2003-06-19
    listed $215,000

ⓘ 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: $12,557 · $1,046/mo
• Projected year-2 tax: $12,557 · $1,046/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 4/10 Moderate FEMA zone X · 23% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°F today · 18 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: $112,068
• − Mortgage interest: −$36,690
• − Property taxes: −$12,557
• − Insurance: −$3,275
• − Repairs & maintenance: −$8,965
• − Management: −$8,965
• − Depreciation: −$19,055
• Taxable income: $22,561
• Est. tax owed @ 24.0%: −$5,415
• After-tax cash flow: $26,069/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

+214.0% since first listed

12 events — show timeline

• 2026-02-17 Relisted — GEMLS
• 2026-01-13 Pending — GEMLS
• 2025-12-22 Listed $675,000 GEMLS
• 2023-12-20 Sold (Public Records) $590,000 Public Records
• 2021-03-30 Sold (Public Records) $320,000 Public Records
• 2019-10-31 Listing Removed — SDMLS
• 2019-08-01 Listed $399,000 SDMLS
• 2003-11-12 Sold (MLS) $215,000 GEMLS
• 2003-11-07 Sold (Public Records) $215,000 Public Records
• 2003-08-12 Delisted — GEMLS
• 2003-08-12 Price Changed $225,000 GEMLS
• 2003-06-19 Listed $215,000 GEMLS

Property tax history

+10.9%/yr

Latest (2025): $12,557 · +3.8% YoY. Source: county tax records.