203 Walnut St · Needles, CA 92363

$94,000

1 bd · 1.0 ba · 1,389 sqft · SingleFamily public records · 179 Days on market

Built 1920 7,560 sqft lot $68/sqft · 39% below area Est $155k · 39% under

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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
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• Appreciation +5.8/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks MLS

Fabulous Fixer Upper!! Must see the charm and potential this home has to offer! This 3 bedroom 1 bathroom on a large, corner, fully-fenced lot is just minutes from the Colorado River, launch ramps, golfing, off-roading and so much more! Interior features a Beautiful built in hutch and fireplace! Spacious home that just needs someone to love it again! Detached garage can be accessed from side street.

Key facts

• Built in hutch
• Fully fenced lot
• Corner lot

Tags

• CORNER LOT
• FULLY FENCED LOT
• BUILT IN HUTCH
• FIREPLACE
• DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $94k.

Deal economics

• At list price, monthly cash flow is $354 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $94k).
• Recommended offer: $83k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.8% vs local median 5.1% in Needles — 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 62/100 on livability (#492 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: health & safety C-, schools D+, crime F.
• Needles Unified (town): math 22% / reading 28% proficiency, ranked #1,194 of 1,400 in CA (top 85%) — 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.
• Market conditions: 151 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).

Forward outlook

• In year one you build about $2k of equity ($650 loan paydown + $2k appreciation (1.6% 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 (1.6% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 179 days — a 12% lower offer ($83k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $82,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 179 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.28% ✓
• Cap rate: 10.81%
• Cash-on-cash: 16.14%
• DSCR: 1.72
• GRM: 6.5

CMA / ARV

• ARV (median comp): $155,342
• List price: $94,000
• Delta: -39.49%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1312 W Broadway St	0.29mi	2/1.0 (+1)	1,207 (-13%)	2mo	$156,100	$129	58
311 E St	0.68mi	2/1.0 (+1)	1,449 (+4%)	8mo	$40,000	$28	50

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

Projected returns pro-forma

1.64% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.6%
• Equity multiple: 2.04×
• Total profit: $27,289
• Equity at exit: $35,282

10-year hold

• IRR: 22.1%
• Equity multiple: 3.82×
• Total profit: $74,178
• Equity at exit: $49,462

Cash invested: $26,320 (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 92363

• Home prices YoY: 0.6%
• Active inventory: 151
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,200 medium
• Mortgage (P&I): −$493
• Tax from tax record: −$62 /mo · $743/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $354

Break-even live

Break-even rent $752

Max offer price $94,000

Occupancy floor 66%

Sensitivity live

Price	-10% $407	-5% $381	+0% $354	+5% $327	+10% $301
Rent	-10% $259	-5% $307	+0% $354	+5% $401	+10% $449
Rate	-1.0pp $401	-0.5pp $378	base $354	+0.5pp $330	+1.0pp $305

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: $23,500
• Closing costs: $2,820
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
412 D St Needles, CA	2.0	1.0	1096	$1,200	$1.09	14d	1	0.79mi

Listing history 22 events

1. 2026-06-19
   days on market $94,000 Active 179 DOM
2. 2026-06-18
   days on market $94,000 Active 178 DOM
3. 2026-06-17
   days on market $94,000 Active 177 DOM
4. 2026-06-16
   days on market $94,000 Active 176 DOM
5. 2026-06-15
   days on market $94,000 Active 175 DOM
6. 2026-06-14
   days on market $94,000 Active 173 DOM
7. 2026-06-13
   days on market $94,000 Active 172 DOM
8. 2026-06-10
   days on market $94,000 Active 170 DOM
9. 2026-06-09
   days on market $94,000 Active 169 DOM
10. 2026-06-08
    days on market $94,000 Active 168 DOM
11. 2026-06-07
    days on market $94,000 Active 167 DOM
12. 2026-06-05
    days on market $94,000 Active 164 DOM
13. 2026-06-03
    price $94,000 Active 162 DOM
14. 2026-06-02
    pricedays on market $89,000 Active 162 DOM
15. 2026-06-01
    days on market $99,000 Active 161 DOM
16. 2026-05-31
    days on market $99,000 Active 160 DOM
17. 2026-05-30
    days on market $99,000 Active 159 DOM
18. 2026-04-22
    status Active 402-char remark

    Show marketing remark (402 chars)

    Fabulous Fixer Upper!! Must see the charm and potential this home has to offer! This 3 bedroom 1 bathroom on a large, corner, fully-fenced lot is just minutes from the Colorado River, launch ramps, golfing, off-roading and so much more! Interior features a Beautiful built in hutch and fireplace! Spacious home that just needs someone to love it again! Detached garage can be accessed from side street.

19. 2026-02-25
    historical Active Under Contract 402-char remark

    Show marketing remark (402 chars)

    Fabulous Fixer Upper!! Must see the charm and potential this home has to offer! This 3 bedroom 1 bathroom on a large, corner, fully-fenced lot is just minutes from the Colorado River, launch ramps, golfing, off-roading and so much more! Interior features a Beautiful built in hutch and fireplace! Spacious home that just needs someone to love it again! Detached garage can be accessed from side street.

20. 2026-02-12
    status Active 402-char remark

    Show marketing remark (402 chars)

    Fabulous Fixer Upper!! Must see the charm and potential this home has to offer! This 3 bedroom 1 bathroom on a large, corner, fully-fenced lot is just minutes from the Colorado River, launch ramps, golfing, off-roading and so much more! Interior features a Beautiful built in hutch and fireplace! Spacious home that just needs someone to love it again! Detached garage can be accessed from side street.

21. 2026-02-01
    status Pending Sale 402-char remark

    Show marketing remark (402 chars)

    Fabulous Fixer Upper!! Must see the charm and potential this home has to offer! This 3 bedroom 1 bathroom on a large, corner, fully-fenced lot is just minutes from the Colorado River, launch ramps, golfing, off-roading and so much more! Interior features a Beautiful built in hutch and fireplace! Spacious home that just needs someone to love it again! Detached garage can be accessed from side street.

22. 2025-12-11
    listed $99,000 Active 402-char remark

    Show marketing remark (402 chars)

    Fabulous Fixer Upper!! Must see the charm and potential this home has to offer! This 3 bedroom 1 bathroom on a large, corner, fully-fenced lot is just minutes from the Colorado River, launch ramps, golfing, off-roading and so much more! Interior features a Beautiful built in hutch and fireplace! Spacious home that just needs someone to love it again! Detached garage can be accessed from side street.

ⓘ 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: $743 · $62/mo
• Projected year-2 tax: $743 · $62/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥116°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,400
• − Mortgage interest: −$5,265
• − Property taxes: −$743
• − Insurance: −$470
• − Repairs & maintenance: −$1,152
• − Management: −$1,152
• − Depreciation: −$2,735
• Taxable income: $2,883
• Est. tax owed @ 24.0%: −$692
• After-tax cash flow: $3,556/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: Needles Unified
• NCES district ID: 0626760
• Math proficiency: 22% ▼ -2.00%
• Reading proficiency: 28% ▼ -1.00%
• Median HH income: $31,795
• Composite: 23.35/100
• National rank: #13305
• State rank: #1194 of 1400 in CA

Livability — Needles

• Score: 62/100
• State rank: #492
• US rank: #16661

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Needles, CA
• Population (ZIP): 5,392

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 0.63)
• Race & ethnicity: White 54% Hispanic / Latino 29% Two or more races 16% Native American 11% Black 3%
• Hispanic origin (detail): Mexican 24% Puerto Rican 2%
• Common ancestry: Romanian 3% Iranian 3% Lithuanian 2%
• Foreign-born: 3% · Canada, China
• Languages at home: 89% English-only · Spanish 9% Chinese 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: ▲ 1.64%
• Current HPI: 279.7931
• 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

5 events — show timeline

• 2026-04-22 Relisted — CRMLS
• 2026-02-25 Contingent — CRMLS
• 2026-02-12 Relisted — CRMLS
• 2026-02-01 Pending — CRMLS
• 2025-12-11 Listed $99,000 CRMLS

Property tax history

+9.6%/yr

Latest (2025): $743 · +1.8% YoY. Source: county tax records.