  We study the J1-J2 Ising model on the square lattice using the random local
field approximation (RLFA) and Monte Carlo (MC) simulations for various values
of the ratio p = J2/|J1| with antiferromagnetic coupling J2, ensuring spin
frustration. RLFA predicts metastable states with zero order parameter
(polarization) at low temperature for p \in (0,1). This is supported by our MC
simulations, in which the system relaxes into metastable states with not only
zero, but also with arbitrary polarization, depending on its initial value,
external field, and temperature. We support our findings by calculating the
energy barriers of these states at the level of individual spin flips relevant
to the MC calculation. We discuss experimental conditions and compounds
appropriate for experimental verification of our predictions.
