3432 Starjet St St

Rosamond, CA 93560

$396,000D-

3 bd · 2.0 ba · 1,433 sqft · Built 2005 · SingleFamily · Active · 268 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,756/mo
• Mortgage (P&I): −$2,077
• Tax + insurance: −$468
• HOA: −$0
• Vac / Maint / Mgmt: −$579
• Net cashflow: $-368/mo
• Annual: $-4,410/yr
• Cap rate: 5.18%
• Cash-on-cash: -3.98%
• DSCR: 0.82
• 1% rule: 0.70%
• Cash to close: $110,880

Investor read

• This is a 3-bed/2.0-bath single-family listed at $396k.
• At list price, monthly cash flow is $-368 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $331k (16.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $276k (30.4% below list).
• It's been on market 268 days — a 12% lower offer ($348k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $276k (30.4% below list) — sets the bar for 1% rule.
• In year one you build about $12k of equity ($3k loan paydown + $10k appreciation (2.4% local appreciation)).
• Location reads 49/100 on livability (#1,178 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: schools F, crime F, amenities F.
• Southern Kern Unified (town): math 25% / reading 25% proficiency, ranked #387 of 517 in CA (top 75%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 458 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,244 units permitted in Kern County in 2024 (73 in 5+ unit buildings).
• Kern County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 17y ago; this cycle's ask has dropped $23k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $125k; list at $396k implies a 217% gain — meaningful room to come down on a strong offer.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.2% vs local median 4.3% in Rosamond — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• This rent runs 43% of the median local income ($77k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• It's been on market 268 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?
• 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?
• 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.