29867 N 1st · Barstow, CA 92311

$550,000

9 bd · 6.9 ba · 4,056 sqft · MultiFamily public records · 10 Days on market

Built 1955 3.70 ac lot

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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 +21.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +4.7/10.0
• Livability +3.2/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

These are very nice units in the growing city of Barstow. Barstow is located 30 miles north of Victorville in the Upper Desert. Barstow's future growth is estimated to double in the near future due to Barstow being the center of the Barstow International Gateway project. This plan includes a 5,000 acre rail & logistics hub led by BNSF Railway. This identified "BIG" facility is designed to streamline freight movement and position Barstow as a regional economic powerhouse. This includes a 9 MILLION SQUARE FOOT WAREHOUSE EMPLOYING 15,000+ NEW JOBS!! Please see details in documents attached. These units are located just north of Route 66 and central Barstow. Public & schoo

Key facts

• Tile flooring
• Located on 3.7 acres
• 3.7 acre lot

Tags

• GROWING CITY OF BARSTOW
• 5 ACRE RAIL AND LOGISTICS HUB
• PUBLIC AND SCHOOL BUS STOPS
• FRONT AND REAR BUILDINGS
• TILE FLOORING
• LOCATED ON 3.7 ACRES

Property features AI

Finance

• Financial info: Total of 7 rental units; Building area reported as 5,000 total; Gross scheduled income approximately $84,780; Net operating income approximately $65,506; Total operating expenses approximately $19,274 (including water/sewer and insurance); Gross rent roll examples: one 3-bedroom unit showing $1,025 actual rent; six 1-bedroom units showing $6,040 actual rent (unit counts and rents reported separately)

Exterior

• Utilities: Public sewer; District/public water; One separate water meter; Eight separate gas meters; Eight separate electric meters
• Home design: Attached multi-unit property; Single-story buildings; Two buildings on the parcel; Property zoned/characterized as suburban
• Construction: Year built per assessor; Common walls (2+ shared walls)
• Exterior features: No pool

Interior

• Bedrooms: Units include 3-bedroom and 1-bedroom configurations (see unit breakdown)
• Bathrooms: Units feature full bathrooms
• Interior features: Ground-level entry
• Laundry & utility: No on-site laundry listed

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/2.3-bath units multifamily listed at $550k.

Deal economics

• At list price, monthly cash flow is $828 ($10k/yr) — positive. Per door: $276/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 $531k (3.5% below list).
• Recommended offer: $531k (3.5% below list) — sets the bar for 1% rule.
• Cap rate 8.1% vs local median 4.5% 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-, crime F.
• Barstow Unified (town): math 11% / reading 22% proficiency, ranked #482 of 517 in CA (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Skyline North Elementary (math 12% / reading 17%, grade F, #1,428 of 1,571 statewide, top 92%, 427 students, 72% FRL); Barstow Junior High (math 4% / reading 13%, grade F, #495 of 498 statewide, top 100%, 742 students, 80% FRL); Barstow High (math 22% / reading 47%, grade F, #618 of 1,170 statewide, top 56%, 1,584 students, 67% FRL) — zoned schools at 73% FRL track the district average.
• Market conditions: Rents rising (+2.3%/yr); 349 active listings in the ZIP; 5,458 units permitted in San Bernardino County in 2024 (1,500 in 5+ unit buildings).
• At $5,308/mo this rent would consume 103% of the median local household income ($62k/yr) (locally 1305% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.
• San Bernardino County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $170k; list at $550k implies a 224% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 8→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $530,800 (3.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.97% ✗
• Cap rate: 8.10%
• Cash-on-cash: 6.45%
• DSCR: 1.29
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.32% rent growth · sell at horizon

5-year hold

• IRR: -7.1%
• Equity multiple: 0.74×
• Total profit: $-40,211
• Equity at exit: $82,007

10-year hold

• IRR: 1.6%
• Equity multiple: 1.11×
• Total profit: $17,492
• Equity at exit: $47,554

Cash invested: $154,000 (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 92311

• Home prices YoY: -30.6%
• Rents YoY: 2.3%
• Active inventory: 349
• Price-to-rent: 25.9×

Monthly cashflow live

• Estimated rent: $5,308 medium
• Mortgage (P&I): −$2,884
• Tax from tax record: −$252 /mo · $3,028/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,115
• Net cashflow: $828

Break-even live

Break-even rent $4,260

Max offer price $550,000

Occupancy floor 79%

Sensitivity live

Price	-10% $1,139	-5% $983	+0% $828	+5% $672	+10% $516
Rent	-10% $408	-5% $618	+0% $828	+5% $1,037	+10% $1,247
Rate	-1.0pp $1,105	-0.5pp $967	base $828	+0.5pp $685	+1.0pp $540

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	2.3	$5,307
Total (3 units)			$5,308

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: $137,500
• Closing costs: $16,500
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-21
   days on market $550,000 Active 10 DOM
2. 2026-06-18
   days on market $550,000 Active 7 DOM
3. 2026-06-17
   days on market $550,000 Active 6 DOM
4. 2026-06-16
   days on market $550,000 Active 5 DOM
5. 2026-06-15
   days on market $550,000 Active 4 DOM
6. 2026-06-13
   days on market $550,000 Active 2 DOM
7. 2026-06-13
   remarks 681-char remark
8. 2026-06-13
   listed $550,000 Active 1 DOM

ⓘ 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: $3,028 · $252/mo
• Projected year-2 tax: $4,180 · $348/mo
• Expected delta: +$1,152/yr (+$96/mo · 38.0%)

ⓘ 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 8/10 Severe 8 d/yr ≥104°F today · 22 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 11 unhealthy d/yr today · 15 by 30 yrs out

Taxation est. · year 1

• Rental income: $63,696
• − Mortgage interest: −$30,809
• − Property taxes: −$3,028
• − Insurance: −$2,750
• − Repairs & maintenance: −$5,096
• − Management: −$5,096
• − Depreciation: −$16,000
• Taxable income: $918
• Est. tax owed @ 24.0%: −$220
• After-tax cash flow: $9,710/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: Barstow Unified
• NCES district ID: 0604020
• Math proficiency: 11% ▼ -7.00%
• Reading proficiency: 22% ▼ -7.00%
• Median HH income: $44,505
• Composite: 14.44/100
• National rank: #9430
• State rank: #482 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

• County: San Bernardino County · 2,030,291 people
• City population: 33,954
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 33,954
• Household income: $61,862
• Rent vs Own: 50.0% rent · 50.0% own
• Severe rent burden: 1305.0

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: Hispanic / Latino 46% White 29% Two or more races 22% Black 15% Native American 3% Asian 2% Pacific Islander 1%
• Hispanic origin (detail): Mexican 39% Puerto Rican 2%
• Common ancestry: Portuguese 1% Lithuanian 1% Italian 1%
• Foreign-born: 9% · Canada, South Korea
• Languages at home: 77% English-only · Spanish 20% Tagalog/Filipino 1% Other Indo-European 1%

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: ▼ -139.26%
• Current HPI: 316.4858
• Rent YoY: ▲ 2.32%
• 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

+279.3% since first listed

4 events — show timeline

• 2026-06-13 Price Changed $550,000 CRMLS
• 2026-06-11 Listed $699,000 CRMLS
• 2004-04-23 Sold (Public Records) $170,000 Public Records
• 1991-01-22 Sold (Public Records) $145,000 Public Records

Property tax history

+1.8%/yr

Latest (2025): $3,028 · +1.8% YoY. Source: county tax records.