35587 National Trl · Barstow, CA 92327

$185,000

6 bd · 4.5 ba · 2,226 sqft · MultiFamily · 381 Days on market

Built 1952 Poor condition 0.51 ac lot $83/sqft · 17% below area Est $224k · 17% under ↓ 7% since listing

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +5.0/10.0
• Livability +3.2/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Unlock the potential of this truly unique half-acre property featuring three separate homes, a workshop/garage, and an oversized inground pool—all nestled behind a gated, fully fenced lot. Public records call it a triplex, but this is so much more. Each unit is its own freestanding structure, offering endless possibilities for multi-generational living, investment, or creative redevelopment. The main house is full of character and opportunity, offering numerous rooms, three bathrooms, a spacious kitchen, and a sunroom that stretches across the front of the home—perfect for soaking in natural light. Downstairs, a 364 sq ft basement adds flexible space for storage or expansion. Out back, a large covered patio connects the home to the pool area, making it ideal for future entertaining. The second home is a blank canvas with four rooms, partial plumbing, and some drywall already in place—just waiting for your vision. The third unit is a cozy, studio-style structure with its own bathroom, ideal for a guest space or rental with another small basement. Convenient drive-through gates on both ends of the property make access a breeze. And for railfans or lovers of local character, the property faces the train tracks with a nearby crossing in full view—adding a touch of Americana to this one-of-a-kind fixer. This property is brimming with possibilities—bring your creativity and imagine what it could become!

Key facts

• Half-acre property
• Three separate homes
• Workshop garage

Tags

• HALF-ACRE PROPERTY
• THREE SEPARATE HOMES
• WORKSHOP GARAGE
• OVERSIZED INGROUND POOL
• GATED FULLY FENCED LOT
• MULTI-GENERATIONAL LIVING

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.5-bath units multifamily listed at $185k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $522/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $185k).
• Recommended offer: $163k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.4% vs local median 4.6% in Barstow — 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 63/100 on livability (#444 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+; Watch: amenities C-, health & safety C-, schools F.
• Silver Valley Unified (town): math 23% / reading 39% proficiency, ranked #323 of 517 in CA (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 21 active listings in the ZIP; 5,458 units permitted in San Bernardino County in 2024 (1,500 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($1k loan paydown + $6k appreciation (3.0% 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 (3.0% appreciation + 3.0% rent growth), your $52k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 381 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $162,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 381 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
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: 1.95% ✓
• Cap rate: 16.45%
• Cash-on-cash: 36.27%
• DSCR: 2.61
• GRM: 4.3

CMA / ARV

• ARV (median comp): $223,768
• List price: $185,000
• Delta: -17.32%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 41.9%
• Equity multiple: 3.36×
• Total profit: $122,048
• Equity at exit: $83,184

10-year hold

• IRR: 41.8%
• Equity multiple: 6.69×
• Total profit: $294,847
• Equity at exit: $128,196

Cash invested: $51,800 (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 92327

• Active inventory: 21
• Price-to-rent: 12.8×

Monthly cashflow live

• Estimated rent: $3,600 medium
• Mortgage (P&I): −$970
• Tax est. 1.5%: −$231 /mo · $2,775/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$756
• Net cashflow: $1,566

Break-even live

Break-even rent $1,618

Max offer price $185,000

Occupancy floor 52%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1.5	$3,600
Total (3 units)			$3,600

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $185,000 Active 381 DOM
2. 2026-06-17
   days on market $185,000 Active 380 DOM
3. 2026-06-16
   days on market $185,000 Active 379 DOM
4. 2026-06-15
   days on market $185,000 Active 378 DOM
5. 2026-06-13
   days on market $185,000 Active 376 DOM
6. 2026-06-13
   days on market $185,000 Active 375 DOM
7. 2026-06-09
   days on market $185,000 Active 372 DOM
8. 2026-06-08
   days on market $185,000 Active 371 DOM
9. 2026-06-07
   days on market $185,000 Active 370 DOM
10. 2026-06-04
    days on market $185,000 Active 367 DOM
11. 2026-06-03
    days on market $185,000 Active 366 DOM
12. 2026-06-02
    days on market $185,000 Active 365 DOM
13. 2026-06-01
    days on market $185,000 Active 364 DOM
14. 2026-05-31
    days on market $185,000 Active 363 DOM
15. 2025-11-12
    price $185,000 1450-char remark

    Show marketing remark (1450 chars)

    Unlock the potential of this truly unique half-acre property featuring three separate homes, a workshop/garage, and an oversized inground pool—all nestled behind a gated, fully fenced lot. Public records call it a triplex, but this is so much more. Each unit is its own freestanding structure, offering endless possibilities for multi-generational living, investment, or creative redevelopment. The main house is full of character and opportunity, offering numerous rooms, three bathrooms, a spacious kitchen, and a sunroom that stretches across the front of the home—perfect for soaking in natural light. Downstairs, a 364 sq ft basement adds flexible space for storage or expansion. Out back, a large covered patio connects the home to the pool area, making it ideal for future entertaining. The second home is a blank canvas with four rooms, partial plumbing, and some drywall already in place—just waiting for your vision. The third unit is a cozy, studio-style structure with its own bathroom, ideal for a guest space or rental with another small basement. Convenient drive-through gates on both ends of the property make access a breeze. And for railfans or lovers of local character, the property faces the train tracks with a nearby crossing in full view—adding a touch of Americana to this one-of-a-kind fixer. This property is brimming with possibilities—bring your creativity and imagine what it could become!

16. 2025-06-02
    listed $195,000 Active 1450-char remark

    Show marketing remark (1450 chars)

    Unlock the potential of this truly unique half-acre property featuring three separate homes, a workshop/garage, and an oversized inground pool—all nestled behind a gated, fully fenced lot. Public records call it a triplex, but this is so much more. Each unit is its own freestanding structure, offering endless possibilities for multi-generational living, investment, or creative redevelopment. The main house is full of character and opportunity, offering numerous rooms, three bathrooms, a spacious kitchen, and a sunroom that stretches across the front of the home—perfect for soaking in natural light. Downstairs, a 364 sq ft basement adds flexible space for storage or expansion. Out back, a large covered patio connects the home to the pool area, making it ideal for future entertaining. The second home is a blank canvas with four rooms, partial plumbing, and some drywall already in place—just waiting for your vision. The third unit is a cozy, studio-style structure with its own bathroom, ideal for a guest space or rental with another small basement. Convenient drive-through gates on both ends of the property make access a breeze. And for railfans or lovers of local character, the property faces the train tracks with a nearby crossing in full view—adding a touch of Americana to this one-of-a-kind fixer. This property is brimming with possibilities—bring your creativity and imagine what it could become!

17. 2024-10-04
    historical
18. 2024-06-27
    price $189,000
19. 2024-04-18
    listed $199,000 Active

ⓘ 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 1/10 Low FEMA zone D · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 11 unhealthy d/yr today · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $43,200
• − Mortgage interest: −$10,363
• − Property taxes: −$2,775
• − Insurance: −$925
• − Repairs & maintenance: −$3,456
• − Management: −$3,456
• − Depreciation: −$5,382
• Taxable income: $16,843
• Est. tax owed @ 24.0%: −$4,042
• After-tax cash flow: $14,744/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.

Condition & rehab AI · 12 photos

Poor 20/100 Extensive rehab

This property requires extensive renovations, including painting, flooring, and plumbing, to become move-in ready and significantly increase its value.

Repairs flagged

• Major Kitchen cabinets — Cabinets are unfinished and require full installation
• Major Bathroom plumbing — Exposed plumbing indicates incomplete plumbing
• Major Exterior siding — Weathered and incomplete, needs full siding installation
• Major Flooring — Unfinished and requires full flooring installation
• Major Paint — Peeling and unfinished, needs full paint job
• Major Windows — Missing panes and unfinished, needs full window installation

Value-add opportunities

• Resale Paint job — Fresh paint enhances curb appeal and interior aesthetics
• Resale Flooring installation — New flooring improves the home's appearance and functionality
• Resale Kitchen cabinets — Completed kitchen cabinets add value and functionality
• Resale Bathroom plumbing — Completed plumbing ensures the bathroom is functional and attractive
• Resale Windows — Completed windows improve natural light and energy efficiency
• Resale Siding installation — Completed siding enhances the home's curb appeal and durability
• Both HVAC/mechanical installation — Completed HVAC and mechanical systems ensure comfort and energy efficiency
• Resale Landscaping — Landscaping enhances curb appeal and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Cabinets are unfinished and require full installation	Major	$15,000–50,000
Bathroom plumbing · Exposed plumbing indicates incomplete plumbing	Major	$15,000–50,000
Exterior siding · Weathered and incomplete, needs full siding installation	Major	$15,000–50,000
Flooring · Unfinished and requires full flooring installation	Major	$15,000–50,000
Paint · Peeling and unfinished, needs full paint job	Major	$15,000–50,000
Windows · Missing panes and unfinished, needs full window installation	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Resale Paint job — Fresh paint enhances curb appeal and interior aesthetics ↑
• Resale Flooring installation — New flooring improves the home's appearance and functionality ↑
• Resale Kitchen cabinets — Completed kitchen cabinets add value and functionality ↑
• Resale Bathroom plumbing — Completed plumbing ensures the bathroom is functional and attractive ↑
• Resale Windows — Completed windows improve natural light and energy efficiency ↑
• Resale Siding installation — Completed siding enhances the home's curb appeal and durability ↑
• Both HVAC/mechanical installation — Completed HVAC and mechanical systems ensure comfort and energy efficiency ↑
• Resale Landscaping — Landscaping enhances curb appeal and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Silver Valley Unified
• NCES district ID: 0636820
• Math proficiency: 23% ▼ -12.00%
• Reading proficiency: 39% ▼ -12.00%
• Median HH income: $48,754
• Composite: 26.85/100
• National rank: #7105
• State rank: #323 of 517 in CA

Livability — Barstow

• Score: 63/100
• State rank: #444
• US rank: #15099

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 33,954
• Population (ZIP): 706

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: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 48% Hispanic / Latino 23% Black 22% Two or more races 22%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: English 4% Italian 2%

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: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• 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

-7.0% since first listed

5 events — show timeline

• 2025-11-12 Price Changed $185,000 CRMLS
• 2025-06-02 Listed $195,000 CRMLS
• 2024-10-04 Listing Removed — CRMLS
• 2024-06-27 Price Changed $189,000 CRMLS
• 2024-04-18 Listed $199,000 CRMLS