12048 Sand Ave · Adelanto, CA 92301

$360,000

4 bd · 2.0 ba · 1,800 sqft · MultiFamily public records · 153 Days on market

Built 1982 8,190 sqft lot Est $500k · 28% under

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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).

• ARV discount +15.0/15.0
• Cash flow +12.7/30.0
• Appreciation +10.0/10.0
• DSCR +3.8/10.0
• Rent growth +3.7/5.0
• 1% rule +3.6/10.0
• 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: 2 units. confirmed

Listing remarks MLS

Bank Owned Property. Sold AS-IS. Single Story Duplex in North Adelanto. Close to SCLA. Each unit is 2 bedroom, 1 bath, single attached garage. This property is being sold in its present condition. (AS-IS)

Key facts

• Street-level lot
• Private patios
• Single-story duplex

Tags

• SINGLE-STORY DUPLEX
• PRIVATE PATIOS
• AMPLE ON-SITE PARKING
• DESERT LANDSCAPING
• STREET-LEVEL LOT

Property features AI

Finance

• Other: Property is not an ADU
• Financial info: Total building area reported as 1,800 (unit not repeated in interior/exterior); Gross income/Gross scheduled income of $36,600; Net operating income of $25,559; Gross multiplier 9.83; Operating expenses reported at $11,041 with line items including taxes, insurance, gardener, maintenance, trash, electric, and water/sewer; One building with two total units
• HOA & community: Community apartment common interest

Exterior

• Parking: Two parking spaces total; Each unit has an attached 2-car garage
• Security: No security details provided
• Utilities: Septic tank sewer system; District/public water; One separate water meter; Two separate gas meters; Two separate electric meters
• Home design: Single-story building; Attached dwelling; Community apartment property
• Construction: Year built from public records (year not specified)
• Exterior features: No pool; Lot characterized as 2–5 units per acre

Interior

• Kitchen: No specific kitchen appliance details provided
• Bedrooms: Unit(s) include 2-bedroom layouts
• Flooring: No flooring information provided
• Bathrooms: Units include 1 full bathroom
• Heating & cooling: No heating or cooling information provided
• Interior features: Ground-floor entry; Attached property with one common wall; Two-unit community apartment
• Laundry & utility: No laundry facilities in-unit

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $360k.

Deal economics

• At list price, monthly cash flow is $-467 ($-6k/yr) — negative. Per door: $-234/mo.
• To cash-flow at today's rent, offer at most $292k (18.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $310k (13.9% below list).
• Recommended offer: $292k (18.8% below list) — sets the bar for cash-flow.
• Cap rate 6.2% 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; 1 comparable units currently listed for rent nearby; 5,458 units permitted in San Bernardino County in 2024 (1,500 in 5+ unit buildings).
• At $3,098/mo this rent would consume 54% 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 $38k of equity ($2k loan paydown + $36k 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.
• By year 2, paydown + projected appreciation supports a ~$62k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 153 days — a 12% lower offer ($317k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 19y 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 $22k; list at $360k implies a 1536% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); extreme-heat days projected 6→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $292,424 (18.8% below list)

Questions for the listing agent

1. 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?
2. It's been on market 153 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.86% ✗
• Cap rate: 6.16%
• Cash-on-cash: -0.48%
• DSCR: 0.98
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $500,400
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18415 Jonathan St	0.42mi	4/1.0	2,048 (+14%)	8mo	$570,000	$278	46

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: 20.9%
• Equity multiple: 2.71×
• Total profit: $171,955
• Equity at exit: $324,317

10-year hold

• IRR: 19.4%
• Equity multiple: 6.38×
• Total profit: $541,951
• Equity at exit: $699,401

Cash invested: $100,800 (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: 19.4×

Monthly cashflow live

• Estimated rent: $3,098 high
• Mortgage (P&I): −$1,888
• Tax est. 1.5%: −$450 /mo · $5,400/yr
• Insurance: −$150
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$651
• Net cashflow: $-467

Break-even live

Break-even rent $3,689

Max offer price $292,424

Occupancy floor —

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,098
Total (2 units)			$3,098

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: $90,000
• Closing costs: $10,800
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11715 Lee Ave Adelanto, CA	3.0	3.0	1916	$3,195	$1.67	1d	1	0.47mi

Listing history 28 events

1. 2026-06-18
   days on market $360,000 Active 153 DOM
2. 2026-06-17
   days on market $360,000 Active 152 DOM
3. 2026-06-16
   days on market $360,000 Active 151 DOM
4. 2026-06-15
   days on market $360,000 Active 150 DOM
5. 2026-06-13
   days on market $360,000 Active 148 DOM
6. 2026-06-09
   days on market $360,000 Active 144 DOM
7. 2026-06-08
   days on market $360,000 Active 143 DOM
8. 2026-06-07
   days on market $360,000 Active 142 DOM
9. 2026-06-04
   days on market $360,000 Active 139 DOM
10. 2026-06-03
    days on market $360,000 Active 138 DOM
11. 2026-06-02
    days on market $360,000 Active 137 DOM
12. 2026-06-01
    days on market $360,000 Active 136 DOM
13. 2026-05-31
    days on market $360,000 Active 135 DOM
14. 2026-05-19
    status Active
15. 2026-04-02
    historical Active Under Contract
16. 2026-01-16
    listed $360,000 Active
17. 2010-03-19
    soldstatus $22,000 204-char remark

    Show marketing remark (204 chars)

    Bank Owned Property. Sold AS-IS. Single Story Duplex in North Adelanto. Close to SCLA. Each unit is 2 bedroom, 1 bath, single attached garage. This property is being sold in its present condition. (AS-IS)

18. 2009-03-19
    historical
19. 2009-03-13
    price $49,900
20. 2009-02-10
    price $54,900
21. 2008-11-12
    listed $72,900
22. 2008-01-01
    historical
23. 2008-01-01
    historical
24. 2007-06-15
    listed $180,000
25. 2007-06-15
    listed $180,000
26. 2006-07-24
    soldstatus $239,000
27. 2006-07-24
    soldstatus $240,000
28. 2004-11-23
    soldstatus $125,000

ⓘ 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 3/10 Moderate FEMA zone AE · 10% 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: $37,176
• − Mortgage interest: −$20,166
• − Property taxes: −$5,400
• − Insurance: −$6,919
• − Repairs & maintenance: −$2,974
• − Management: −$2,974
• − Depreciation: −$10,473
• Taxable loss: −$11,729
• Est. tax savings @ 24.0%: +$2,815
• After-tax cash flow: $-2,789/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

+188.0% since first listed

15 events — show timeline

• 2026-05-19 Relisted — CRMLS
• 2026-04-02 Contingent — CRMLS
• 2026-01-16 Listed $360,000 CRMLS
• 2010-03-19 Sold (MLS) $22,000 CRMLS
• 2009-03-19 Listing Removed — CRMLS
• 2009-03-13 Price Changed $49,900 CRMLS
• 2009-02-10 Price Changed $54,900 CRMLS
• 2008-11-12 Listed $72,900 CRMLS
• 2008-01-01 Listing Removed — CRMLS
• 2008-01-01 Listing Removed — CRMLS
• 2007-06-15 Listed $180,000 CRMLS
• 2007-06-15 Listed $180,000 CRMLS
• 2006-07-24 Sold (Public Records) $240,000 Public Records
• 2006-07-24 Sold (MLS) $239,000 CRMLS
• 2004-11-23 Sold (Public Records) $125,000 Public Records

Property tax history

-9.6%/yr

Latest (2025): $490 · +7.0% YoY. Source: county tax records.