18117 Poinciana · Adelanto, CA 92301

$725,000

8 bd · 4.8 ba · 3,576 sqft · MultiFamily public records · 106 Days on market

Built 1983 8,658 sqft lot Est $697k · at est.

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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 +18.6/30.0
• Appreciation +10.0/10.0
• DSCR +5.9/10.0
• ARV discount +5.7/15.0
• 1% rule +3.7/10.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Livability +2.4/5.0
• Schools +2.2/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Great investment opportunity! Fourplex in Adelanto features a two story, 3 bedroom 2 bath with fireplace in living room, two 2 bedroom, 2 bath units and one 1 bedroom, 1 bath unit. Fresh paint and carpet in all units! Laundry room in common area. Purchase this property for as little as 3% down! This property is approved for HomePath Mortgage and HomePath Renovation Mortgage Financing.

Key facts

• 8,658 sq ft lot
• 4 garage spots
• Built 1983

Tags

• MAJOR IMPROVEMENTS COMPLETED

Property features AI

Finance

• Other: No ADU
• Financial info: Total building area: 3,576; 4 total units; Gross scheduled income: $66,720; Gross income: $66,720; Net operating income: $46,704; Operating expenses: $20,016 (includes $3,000 trash, $2,500 insurance, $1,920 water/sewer); Operating expense percent listed as 25
• HOA & community: Community features include biking; Property is subject to rent control

Exterior

• Parking: 4 total parking spaces; Each unit includes 1 garage space (4 garages total)
• Utilities: Public (district) water; Septic (type unknown) sewer; 4 separate gas meters; 4 separate electric meters; 1 separate water meter
• Home design: Attached community apartment; Single-story; Rectangular lot, level with street
• Construction: One building
• Exterior features: No pool; Front yard

Interior

• Bedrooms: Unit A: 1 bedroom; Unit B: 3 bedrooms; Unit C: 2 bedrooms; Unit D: 2 bedrooms
• Bathrooms: Unit A: 1 full bath; Unit B: 2 full baths; Unit C: 1 full bath; Unit D: 1 full bath
• Interior features: Front entry; Entry level: 1
• Laundry & utility: On-site laundry area

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.2-bath units multifamily listed at $725k.

Deal economics

• At list price, monthly cash flow is $707 ($8k/yr) — positive. Per door: $177/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $633k (12.7% below list).
• Recommended offer: $633k (12.7% below list) — sets the bar for 1% rule.
• Cap rate 7.5% vs local median 4.2% in Adelanto — 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 47/100 on livability (#1,250 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: crime D, schools F, amenities F.
• Victor Valley Union High (urban): math 25% / reading 25% proficiency, ranked #407 of 517 in CA (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.7%/yr); 615 active listings in the ZIP; 5,458 units permitted in San Bernardino County in 2024 (1,500 in 5+ unit buildings).
• At $6,329/mo this rent would consume 111% of the median local household income ($69k/yr) (locally 1345% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $78k of equity ($5k loan paydown + $72k appreciation (10.0% local appreciation)).
• San Bernardino County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 4.7% rent growth), your $203k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$125k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($660k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 24y 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.
• Current owner paid $132k; list at $725k implies a 448% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 6→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $632,900 (12.7% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 13% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is D 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?
8. 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.
9. 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.
10. 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: 0.87% ✗
• Cap rate: 7.46%
• Cash-on-cash: 4.18%
• DSCR: 1.19
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $697,320
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18140 Poinciana Rd	0.05mi	8/5.0	3,338 (-7%)	6mo	$650,000	$195	80
18202 Casaba Rd	0.15mi	8/6.0	3,312 (-7%)	24mo	$570,000	$172	56
10943 Aztec Ln	0.19mi	8/4.0	3,224 (-10%)	19mo	$643,500	$200	56

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 4.68% rent growth · sell at horizon

5-year hold

• IRR: 27.8%
• Equity multiple: 3.22×
• Total profit: $450,416
• Equity at exit: $653,137

10-year hold

• IRR: 24.7%
• Equity multiple: 7.47×
• Total profit: $1,313,934
• Equity at exit: $1,408,516

Cash invested: $203,000 (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 92301

• Home prices YoY: 10.0%
• Rents YoY: 4.7%
• Active inventory: 615
• Price-to-rent: 38.2×

Monthly cashflow live

• Estimated rent: $6,329 high
• Mortgage (P&I): −$3,802
• Tax from tax record: −$189 /mo · $2,266/yr
• Insurance: −$302
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,329
• Net cashflow: $707

Break-even live

Break-even rent $5,434

Max offer price $725,000

Occupancy floor 84%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1.2	$6,328
Total (4 units)			$6,329

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: $181,250
• Closing costs: $21,750
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $725,000 Active 106 DOM
2. 2026-06-17
   days on market $725,000 Active 105 DOM
3. 2026-06-16
   days on market $725,000 Active 104 DOM
4. 2026-06-15
   days on market $725,000 Active 103 DOM
5. 2026-06-13
   days on market $725,000 Active 101 DOM
6. 2026-06-09
   days on market $725,000 Active 97 DOM
7. 2026-06-08
   days on market $725,000 Active 96 DOM
8. 2026-06-07
   days on market $725,000 Active 95 DOM
9. 2026-06-04
   days on market $725,000 Active 92 DOM
10. 2026-06-03
    days on market $725,000 Active 91 DOM
11. 2026-06-02
    days on market $725,000 Active 90 DOM
12. 2026-06-01
    days on market $725,000 Active 89 DOM
13. 2026-05-31
    days on market $725,000 Active 88 DOM
14. 2026-03-04
    listed $725,000 Active
15. 2023-12-19
    historical $1,400
16. 2022-12-17
    listed $1,400
17. 2013-04-30
    soldstatus $132,283 387-char remark

    Show marketing remark (387 chars)

    Great investment opportunity! Fourplex in Adelanto features a two story, 3 bedroom 2 bath with fireplace in living room, two 2 bedroom, 2 bath units and one 1 bedroom, 1 bath unit. Fresh paint and carpet in all units! Laundry room in common area. Purchase this property for as little as 3% down! This property is approved for HomePath Mortgage and HomePath Renovation Mortgage Financing.

18. 2003-10-31
    soldstatus $699,500 88-char remark

    Show marketing remark (88 chars)

    5 QUADRUPLEX, NEW REMODELED FULLY OCCUPIED PLEASE DO NOT DISTURB TENANTS. DRIVE BY ONLY.

19. 2003-04-16
    soldstatus $135,000
20. 2002-07-23
    listed $699,500 88-char remark

    Show marketing remark (88 chars)

    5 QUADRUPLEX, NEW REMODELED FULLY OCCUPIED PLEASE DO NOT DISTURB TENANTS. DRIVE BY ONLY.

21. 1998-10-30
    soldstatus $134,000
22. 1990-09-28
    soldstatus $80,000

ⓘ 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: $2,266 · $189/mo
• Projected year-2 tax: $5,510 · $459/mo
• Expected delta: +$3,244/yr (+$270/mo · 143.2%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 6 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 16 unhealthy d/yr today · 20 by 30 yrs out

Taxation est. · year 1

• Rental income: $75,948
• − Mortgage interest: −$40,611
• − Property taxes: −$2,266
• − Insurance: −$3,625
• − Repairs & maintenance: −$6,076
• − Management: −$6,076
• − Depreciation: −$21,091
• Taxable loss: −$3,797
• Est. tax savings @ 24.0%: +$911
• After-tax cash flow: $9,395/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: Victor Valley Union High
• NCES district ID: 0636972
• Math proficiency: 25% ▲ 6.00%
• Reading proficiency: 25% ▼ -12.00%
• Median HH income: $45,112
• Composite: 21.6/100
• National rank: #8296
• State rank: #407 of 517 in CA

Livability — Adelanto

• Score: 47/100
• State rank: #1250
• US rank: #26338

Category grades

Amenities F Commute F Cost of living D- Crime D Employment D- Housing A+ Health & safety F User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Adelanto, CA
• County: San Bernardino County · 2,030,291 people
• City population: 38,577
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 38,577
• Household income: $68,676
• Rent vs Own: 37.8% rent · 62.2% own
• Severe rent burden: 1345.0

Population outlook (San Bernardino County) Hauer SSP2

• Today (2025): 2,300,329 people
• By 2030: 2,378,907 · +3.4%
• By 2040: 2,523,137 · +9.7%
• By 2050: 2,642,388 · +14.9%
• By 2075: 2,880,769 · +25.2%
• By 2100: 2,909,436 · +26.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (69%)
• Race & ethnicity: Hispanic / Latino 69% Two or more races 34% Black 15% White 9% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 58%
• Foreign-born: 18% · Canada
• Languages at home: 52% English-only · Spanish 46%

Political lean MEDSL · San Bernardino

• 2024 margin: Toss-up / Even · D 47.5% · R 49.7% · Other 2.8%
• 2008→2024 swing: -8.5pp toward R · 2008: 6.3pp · 2024: -2.1pp
• All cycles: 2024: R+2.1 2020: D+10.7 2016: D+9.8 2012: D+5.4 2008: D+6.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 41.09%
• Current HPI: 453.6071
• Rent YoY: ▲ 4.68%
• Metro: Riverside-San Bernardino-Ontario, 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

+806.2% since first listed

9 events — show timeline

• 2026-03-04 Listed $725,000 CRMLS
• 2023-12-19 Rental Removed $1,400 CRMLS
• 2022-12-17 Listed for Rent $1,400 CRMLS
• 2013-04-30 Sold (MLS) $132,283 CRMLS
• 2003-10-31 Sold (MLS) $699,500 CRMLS
• 2003-04-16 Sold (Public Records) $135,000 Public Records
• 2002-07-23 Listed $699,500 CRMLS
• 1998-10-30 Sold (Public Records) $134,000 Public Records
• 1990-09-28 Sold (Public Records) $80,000 Public Records

Property tax history

+1.9%/yr

Latest (2025): $2,266 · +7.1% YoY. Source: county tax records.