11420 Lee Ave #48 · Adelanto, CA 92301

$100,000

2 bd · 3.0 ba · 896 sqft · Manufactured public records · 286 Days on market

Built 1977 ↓ 17% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Livability +2.4/5.0
• Schools +2.2/10.0

Listing remarks MLS

Move-in Reay! Beautiful 3 bed, 2 bath home. Modern rehab/remodel and fantastic outdoor space, front and rear. w This move-in ready home features new microwave, new stove, new blinds, new window screens, new kitchen sink, new paint exterior and interior, new bathroom sinks, new counter tops new bathroom sinks, replace skirting. Fully fenced in for privacy. Carport, providing plenty of parking for cars, guests, or recreational vehicles. On the side of the home, you'll find a spacious outdoor hangout area. Shed stays. Spacious front and rear yard, perfect for relaxing or entertaining. Don't miss out on this opportunity!

Key facts

• New stove
• New window screens
• Modern rehab

Tags

• MODERN REHAB
• NEW MICROWAVE
• NEW STOVE
• NEW BLINDS
• NEW WINDOW SCREENS
• NEW KITCHEN SINK

Property features AI

Finance

• HOA & community: Land lease of $689

Exterior

• Parking: Located in Capri Mobile Park
• Utilities: Public sewer; District/public water
• Home design: Single-story mobile home (13' x 64'); Mobile home remains on the property; Living area per assessor's data; One total story
• Construction: Year built per assessor
• Exterior features: Community pool; Lot size in the 0–1 unit/acre range; Located in a valley

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Central furnace heating
• Interior features: One-level layout; Entry on main level
• Laundry & utility: Laundry inside the home

What this means for you Summary

Snapshot

• This is a 2-bed/3.0-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $506 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.4% 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; 17 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 5,458 units permitted in San Bernardino County in 2024 (1,500 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($691 loan paydown + $10k 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 $28k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 286 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 2→6/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $88,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 286 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 1977 — 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 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 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?
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: 1.52% ✓
• Cap rate: 12.37%
• Cash-on-cash: 21.69%
• DSCR: 1.97
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 41.4%
• Equity multiple: 4.19×
• Total profit: $89,331
• Equity at exit: $90,088

10-year hold

• IRR: 36.4%
• Equity multiple: 9.69×
• Total profit: $243,415
• Equity at exit: $194,278

Cash invested: $28,000 (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: 5.5×

Monthly cashflow live

• Estimated rent: $1,516 high
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,500/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $506

Break-even live

Break-even rent $875

Max offer price $100,000

Occupancy floor 62%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11388 Lee Ave Adelanto, CA	3.0	2.0	1058	$1,540	$1.46	1d	1	0.10mi
18335 Montezuma St Unit 13 Adelanto, CA	1.0	1.0	550	$1,345	$2.45	1d	1	0.21mi
18335 Montezuma St Unit 55-18 Adelanto, CA	2.0	1.0	650	$1,645	$2.53	1d	1	0.22mi
18335 Montezuma St Unit 55-4 Adelanto, CA	1.0	1.0	550	$1,345	$2.45	24d	1	0.22mi
18488 Montezuma St Unit 19 Adelanto, CA	1.0	1.0	590	$1,195	$2.03	15d	1	0.25mi
18488 Montezuma St Unit 40 Adelanto, CA	2.0	1.0	790	$1,295	$1.64	1d	1	0.25mi
11695 White Ave Unit 03 Adelanto, CA	2.0	1.0	800	$1,495	$1.87	1d	1	0.30mi
11210 Chamberlaine Way Unit B7 Adelanto, CA	1.0	1.0	625	$1,269	$2.03	24d	1	0.36mi
11210 Chamberlaine Way Unit B1 Adelanto, CA	1.0	1.0	650	$1,399	$2.15	10d	1	0.37mi
11800 White Ave Unit 8 Adelanto, CA	1.0	1.0	535	$1,100	$2.06	1d	1	0.46mi
11159 Chaparral Ave Unit A Adelanto, CA	2.0	1.0	884	$1,395	$1.58	1d	1	0.54mi
11200 Vintage Rd Unit 02 Adelanto, CA	1.0	1.0	700	$1,349	$1.93	1d	1	0.59mi
11200 Vintage Rd Adelanto, CA	1.0	1.0	700	$1,249	$1.78	4d	1	0.59mi
18142 Poinciana Rd Adelanto, CA	2.0	1.0	834	$1,550	$1.86	1d	1	0.61mi
11951 Chamberlaine Way Adelanto, CA	1.0	1.0	560	$1,295	$2.31	1d	1	0.66mi
11951 Chamberlaine Way Unit 12 Adelanto, CA	1.0	1.0	560	$1,395	$2.49	19d	1	0.66mi
12048 Sand Ave Unit B Adelanto, CA	2.0	1.0	900	$1,725	$1.92	1d	1	0.76mi

Listing history 24 events

1. 2026-06-18
   days on market $100,000 Active 286 DOM
2. 2026-06-17
   days on market $100,000 Active 285 DOM
3. 2026-06-16
   days on market $100,000 Active 284 DOM
4. 2026-06-15
   days on market $100,000 Active 283 DOM
5. 2026-06-13
   days on market $100,000 Active 281 DOM
6. 2026-06-09
   days on market $100,000 Active 277 DOM
7. 2026-06-08
   days on market $100,000 Active 276 DOM
8. 2026-06-07
   days on market $100,000 Active 275 DOM
9. 2026-06-04
   days on market $100,000 Active 272 DOM
10. 2026-06-03
    days on market $100,000 Active 271 DOM
11. 2026-06-02
    days on market $100,000 Active 270 DOM
12. 2026-06-01
    days on market $100,000 Active 269 DOM
13. 2026-05-31
    days on market $100,000 Active 268 DOM
14. 2026-04-14
    price $100,000 624-char remark

    Show marketing remark (624 chars)

    Move-in Reay! Beautiful 3 bed, 2 bath home. Modern rehab/remodel and fantastic outdoor space, front and rear. w This move-in ready home features new microwave, new stove, new blinds, new window screens, new kitchen sink, new paint exterior and interior, new bathroom sinks, new counter tops new bathroom sinks, replace skirting. Fully fenced in for privacy. Carport, providing plenty of parking for cars, guests, or recreational vehicles. On the side of the home, you'll find a spacious outdoor hangout area. Shed stays. Spacious front and rear yard, perfect for relaxing or entertaining. Don't miss out on this opportunity!

15. 2026-04-14
    price $100,000

    Show marketing remark (624 chars)

    Move-in Reay! Beautiful 3 bed, 2 bath home. Modern rehab/remodel and fantastic outdoor space, front and rear. w This move-in ready home features new microwave, new stove, new blinds, new window screens, new kitchen sink, new paint exterior and interior, new bathroom sinks, new counter tops new bathroom sinks, replace skirting. Fully fenced in for privacy. Carport, providing plenty of parking for cars, guests, or recreational vehicles. On the side of the home, you'll find a spacious outdoor hangout area. Shed stays. Spacious front and rear yard, perfect for relaxing or entertaining. Don't miss out on this opportunity!

16. 2026-04-07
    price $110,000

    Show marketing remark (624 chars)

    Move-in Reay! Beautiful 3 bed, 2 bath home. Modern rehab/remodel and fantastic outdoor space, front and rear. w This move-in ready home features new microwave, new stove, new blinds, new window screens, new kitchen sink, new paint exterior and interior, new bathroom sinks, new counter tops new bathroom sinks, replace skirting. Fully fenced in for privacy. Carport, providing plenty of parking for cars, guests, or recreational vehicles. On the side of the home, you'll find a spacious outdoor hangout area. Shed stays. Spacious front and rear yard, perfect for relaxing or entertaining. Don't miss out on this opportunity!

17. 2026-04-07
    price $110,000 624-char remark

    Show marketing remark (624 chars)

    Move-in Reay! Beautiful 3 bed, 2 bath home. Modern rehab/remodel and fantastic outdoor space, front and rear. w This move-in ready home features new microwave, new stove, new blinds, new window screens, new kitchen sink, new paint exterior and interior, new bathroom sinks, new counter tops new bathroom sinks, replace skirting. Fully fenced in for privacy. Carport, providing plenty of parking for cars, guests, or recreational vehicles. On the side of the home, you'll find a spacious outdoor hangout area. Shed stays. Spacious front and rear yard, perfect for relaxing or entertaining. Don't miss out on this opportunity!

18. 2026-02-02
    price $109,000 624-char remark

    Show marketing remark (624 chars)

    Move-in Reay! Beautiful 3 bed, 2 bath home. Modern rehab/remodel and fantastic outdoor space, front and rear. w This move-in ready home features new microwave, new stove, new blinds, new window screens, new kitchen sink, new paint exterior and interior, new bathroom sinks, new counter tops new bathroom sinks, replace skirting. Fully fenced in for privacy. Carport, providing plenty of parking for cars, guests, or recreational vehicles. On the side of the home, you'll find a spacious outdoor hangout area. Shed stays. Spacious front and rear yard, perfect for relaxing or entertaining. Don't miss out on this opportunity!

19. 2026-02-02
    price $109,000

    Show marketing remark (624 chars)

    Move-in Reay! Beautiful 3 bed, 2 bath home. Modern rehab/remodel and fantastic outdoor space, front and rear. w This move-in ready home features new microwave, new stove, new blinds, new window screens, new kitchen sink, new paint exterior and interior, new bathroom sinks, new counter tops new bathroom sinks, replace skirting. Fully fenced in for privacy. Carport, providing plenty of parking for cars, guests, or recreational vehicles. On the side of the home, you'll find a spacious outdoor hangout area. Shed stays. Spacious front and rear yard, perfect for relaxing or entertaining. Don't miss out on this opportunity!

20. 2025-12-30
    price $109,900 624-char remark

    Show marketing remark (624 chars)

    Move-in Reay! Beautiful 3 bed, 2 bath home. Modern rehab/remodel and fantastic outdoor space, front and rear. w This move-in ready home features new microwave, new stove, new blinds, new window screens, new kitchen sink, new paint exterior and interior, new bathroom sinks, new counter tops new bathroom sinks, replace skirting. Fully fenced in for privacy. Carport, providing plenty of parking for cars, guests, or recreational vehicles. On the side of the home, you'll find a spacious outdoor hangout area. Shed stays. Spacious front and rear yard, perfect for relaxing or entertaining. Don't miss out on this opportunity!

21. 2025-09-18
    price $109,999 624-char remark

    Show marketing remark (624 chars)

    Move-in Reay! Beautiful 3 bed, 2 bath home. Modern rehab/remodel and fantastic outdoor space, front and rear. w This move-in ready home features new microwave, new stove, new blinds, new window screens, new kitchen sink, new paint exterior and interior, new bathroom sinks, new counter tops new bathroom sinks, replace skirting. Fully fenced in for privacy. Carport, providing plenty of parking for cars, guests, or recreational vehicles. On the side of the home, you'll find a spacious outdoor hangout area. Shed stays. Spacious front and rear yard, perfect for relaxing or entertaining. Don't miss out on this opportunity!

22. 2025-09-18
    price $109,999

    Show marketing remark (624 chars)

    Move-in Reay! Beautiful 3 bed, 2 bath home. Modern rehab/remodel and fantastic outdoor space, front and rear. w This move-in ready home features new microwave, new stove, new blinds, new window screens, new kitchen sink, new paint exterior and interior, new bathroom sinks, new counter tops new bathroom sinks, replace skirting. Fully fenced in for privacy. Carport, providing plenty of parking for cars, guests, or recreational vehicles. On the side of the home, you'll find a spacious outdoor hangout area. Shed stays. Spacious front and rear yard, perfect for relaxing or entertaining. Don't miss out on this opportunity!

23. 2025-09-05
    listed $120,000 Active
24. 2025-09-03
    listed $120,000 Active 624-char remark

    Show marketing remark (624 chars)

    Move-in Reay! Beautiful 3 bed, 2 bath home. Modern rehab/remodel and fantastic outdoor space, front and rear. w This move-in ready home features new microwave, new stove, new blinds, new window screens, new kitchen sink, new paint exterior and interior, new bathroom sinks, new counter tops new bathroom sinks, replace skirting. Fully fenced in for privacy. Carport, providing plenty of parking for cars, guests, or recreational vehicles. On the side of the home, you'll find a spacious outdoor hangout area. Shed stays. Spacious front and rear yard, perfect for relaxing or entertaining. Don't miss out on this opportunity!

ⓘ 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 X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 2 d/yr ≥99°F today · 6 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: $18,187
• − Mortgage interest: −$5,602
• − Property taxes: −$1,500
• − Insurance: −$500
• − Repairs & maintenance: −$1,455
• − Management: −$1,455
• − Depreciation: −$2,909
• Taxable income: $4,766
• Est. tax owed @ 24.0%: −$1,144
• After-tax cash flow: $4,931/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

-16.7% since first listed

11 events — show timeline

• 2026-04-14 Price Changed $100,000 AVMLS
• 2026-04-14 Price Changed $100,000 CRMLS
• 2026-04-07 Price Changed $110,000 CRMLS
• 2026-04-07 Price Changed $110,000 AVMLS
• 2026-02-02 Price Changed $109,000 AVMLS
• 2026-02-02 Price Changed $109,000 CRMLS
• 2025-12-30 Price Changed $109,900 AVMLS
• 2025-09-18 Price Changed $109,999 AVMLS
• 2025-09-18 Price Changed $109,999 CRMLS
• 2025-09-05 Listed $120,000 CRMLS
• 2025-09-03 Listed $120,000 AVMLS

Property tax history

-0.7%/yr

Latest (2025): $28 · +5.3% YoY. Source: county tax records.