323 E · Needles, CA 92363

$204,000

4 bd · 0.0 ba · 1,155 sqft · MultiFamily public records · 68 Days on market

Built 1925 6,800 sqft lot $177/sqft · 20% above area Est $170k · 20% over

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Why this score? — see what drove the D 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 +17.7/30.0
• Appreciation +5.8/10.0
• DSCR +5.5/10.0
• 1% rule +4.2/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• ARV discount +0.0/15.0

Multi-family units

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

Listing remarks MLS

Great investment opportunity just minutes from the Colorado River and downtown Needles! This duplex offers two separate units, perfect for rental income or multi-generational living. The larger unit features 3 bedrooms and 1 bathroom, complete with updated flooring and a comfortable, functional layout. The second unit offers 1 bedroom and 1 bathroom—ideal for a long-term tenant or guest space. Both units share access to a convenient, separate laundry room, adding ease and practicality for tenants. The property also boasts a spacious backyard area with plenty of room for parking, recreational vehicles, or future possibilities. The recent rental price for the units were a total of $2100 monthly, making for an ideal investment property. Located close to the Colorado river and downtown amenities. This property combines location, versatility, and income potential. Don’t miss out on this unique duplex opportunity!

Key facts

• Spacious backyard
• Updated flooring
• Separate units

Tags

• SEPARATE UNITS
• UPDATED FLOORING
• SEPARATE LAUNDRY ROOM
• SPACIOUS BACKYARD
• CLOSE TO COLORADO RIVER
• CLOSE TO DOWNTOWN AMENITIES

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $204k.

Deal economics

• At list price, monthly cash flow is $165 ($2k/yr) — positive. Per door: $83/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 $188k (7.9% below list).
• Recommended offer: $188k (7.9% below list) — sets the bar for 1% rule.
• Cap rate 7.3% vs local median 5.3% 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-, crime F, amenities 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.
• Zoned schools: Needles Middle (math 12% / reading 27%, grade F, #419 of 498 statewide, top 85%, 192 students, 80% FRL).
• Market conditions: 161 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 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 $5k of equity ($1k loan paydown + $3k 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 $57k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($192k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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 $160k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $187,800 (7.9% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 8% 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. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.92% ✗
• Cap rate: 7.26%
• Cash-on-cash: 3.47%
• DSCR: 1.15
• GRM: 9.1

CMA / ARV

• ARV (median comp): $169,681
• List price: $204,000
• Delta: 20.23%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 6.9%
• Equity multiple: 1.36×
• Total profit: $20,821
• Equity at exit: $76,569

10-year hold

• IRR: 10.5%
• Equity multiple: 2.37×
• Total profit: $78,114
• Equity at exit: $107,344

Cash invested: $57,120 (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: 161
• Price-to-rent: 18.1×

Monthly cashflow live

• Estimated rent: $1,878 medium
• Mortgage (P&I): −$1,070
• Tax from tax record: −$164 /mo · $1,963/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $165

Break-even live

Break-even rent $1,669

Max offer price $204,000

Occupancy floor 86%

Sensitivity live

Price	-10% $281	-5% $223	+0% $165	+5% $107	+10% $50
Rent	-10% $17	-5% $91	+0% $165	+5% $239	+10% $314
Rate	-1.0pp $268	-0.5pp $217	base $165	+0.5pp $112	+1.0pp $59

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,878
Total (2 units)			$1,878

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: $51,000
• Closing costs: $6,120
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
512 E St Needles, CA	3.0	1.0	895	$1,300	$1.45	15d	1	0.15mi
804 Valley Ave Needles, CA	3.0	1.0	840	$1,300	$1.55	15d	1	0.16mi
316 Bazoobuth St Needles, CA	3.0	1.0	1100	$1,250	$1.14	15d	1	0.33mi
316 Cibola St Unit Frt Needles, CA	3.0	2.0	1270	$1,300	$1.02	23d	1	0.36mi
1514 4th St Unit 1514 Needles, CA	3.0	1.0	968	$1,375	$1.42	15d	1	0.54mi
1929 Flora Vis Needles, CA	3.0	1.0	1184	$1,700	$1.44	15d	1	0.93mi
503 California Ave Needles, CA	3.0	2.0	1428	$1,500	$1.05	15d	1	1.03mi

Listing history 29 events

1. 2026-06-22
   days on market $204,000 Active 68 DOM
2. 2026-06-19
   days on market $204,000 Active 66 DOM
3. 2026-06-18
   days on market $204,000 Active 65 DOM
4. 2026-06-17
   days on market $204,000 Active 64 DOM
5. 2026-06-16
   days on market $204,000 Active 63 DOM
6. 2026-06-15
   days on market $204,000 Active 62 DOM
7. 2026-06-14
   days on market $204,000 Active 60 DOM
8. 2026-06-13
   pricedays on market $204,000 Active 59 DOM
9. 2026-06-10
   days on market $209,000 Active 57 DOM
10. 2026-06-09
    days on market $209,000 Active 56 DOM
11. 2026-06-08
    days on market $209,000 Active 55 DOM
12. 2026-06-07
    days on market $209,000 Active 54 DOM
13. 2026-06-05
    days on market $209,000 Active 51 DOM
14. 2026-06-02
    days on market $209,000 Active 49 DOM
15. 2026-06-01
    days on market $209,000 Active 48 DOM
16. 2026-05-31
    days on market $209,000 Active 47 DOM
17. 2026-05-30
    days on market $209,000 Active 46 DOM
18. 2026-05-14
    price $209,000 933-char remark

    Show marketing remark (933 chars)

    Great investment opportunity just minutes from the Colorado River and downtown Needles! This duplex offers two separate units, perfect for rental income or multi-generational living. The larger unit features 3 bedrooms and 1 bathroom, complete with updated flooring and a comfortable, functional layout. The second unit offers 1 bedroom and 1 bathroom—ideal for a long-term tenant or guest space. Both units share access to a convenient, separate laundry room, adding ease and practicality for tenants. The property also boasts a spacious backyard area with plenty of room for parking, recreational vehicles, or future possibilities. The recent rental price for the units were a total of $2100 monthly, making for an ideal investment property. Located close to the Colorado river and downtown amenities. This property combines location, versatility, and income potential. Don’t miss out on this unique duplex opportunity!

19. 2026-04-17
    price $220,000 933-char remark

    Show marketing remark (933 chars)

    Great investment opportunity just minutes from the Colorado River and downtown Needles! This duplex offers two separate units, perfect for rental income or multi-generational living. The larger unit features 3 bedrooms and 1 bathroom, complete with updated flooring and a comfortable, functional layout. The second unit offers 1 bedroom and 1 bathroom—ideal for a long-term tenant or guest space. Both units share access to a convenient, separate laundry room, adding ease and practicality for tenants. The property also boasts a spacious backyard area with plenty of room for parking, recreational vehicles, or future possibilities. The recent rental price for the units were a total of $2100 monthly, making for an ideal investment property. Located close to the Colorado river and downtown amenities. This property combines location, versatility, and income potential. Don’t miss out on this unique duplex opportunity!

20. 2026-04-14
    listed $210,000 Active 933-char remark

    Show marketing remark (933 chars)

    Great investment opportunity just minutes from the Colorado River and downtown Needles! This duplex offers two separate units, perfect for rental income or multi-generational living. The larger unit features 3 bedrooms and 1 bathroom, complete with updated flooring and a comfortable, functional layout. The second unit offers 1 bedroom and 1 bathroom—ideal for a long-term tenant or guest space. Both units share access to a convenient, separate laundry room, adding ease and practicality for tenants. The property also boasts a spacious backyard area with plenty of room for parking, recreational vehicles, or future possibilities. The recent rental price for the units were a total of $2100 monthly, making for an ideal investment property. Located close to the Colorado river and downtown amenities. This property combines location, versatility, and income potential. Don’t miss out on this unique duplex opportunity!

21. 2023-06-05
    soldstatus $160,000 Closed Sale 1413-char remark

    Show marketing remark (1413 chars)

    Great Needles Opportunity! Income Property Two Houses! Located in the heart of Needles, this charming duplex offers the perfect comfort and convenience; this duplex features: the main house, renovated kitchen with tile countertops, tile floors, bedrooms that have carpet, an electric stove, central ac about one year old, an open layout that maximizes natural light and creates a welcoming atmosphere. The one-bedroom unit at the bottom has a gas stove, tile countertops, tile floor in the kitchen and living room, and a patio where you can sit to enjoy the view of the city, and you can use the income of this unit to help you pay for your mortgage, The duplex also features a large backyard that is all dirt right now; you can use your imagination to convert it for your perfect outdoor gatherings and entertainment. Perfect for parking your boat or RV Located just minutes away from shopping, dining, and entertainment options, this duplex is a must-see for anyone seeking the ideal balance of comfort and convenience. Separate electrical meters and gas meters for the unit downstairs. Close to Jack Smith Park and Launching Facility Jack Smith Memorial Park & Launch Facilities include Shade Structures Playground Apparatus, restrooms, Turf Area. Launch Ramp, Beaches, Deep Pit BBQ BBQ’s. Electrical Hookups. Swim Area. Don't miss out on this incredible opportunity to make this duplex your home!

22. 2023-06-02
    soldstatus $160,000
23. 2023-06-01
    status Pending Sale 1413-char remark

    Show marketing remark (1413 chars)

    Great Needles Opportunity! Income Property Two Houses! Located in the heart of Needles, this charming duplex offers the perfect comfort and convenience; this duplex features: the main house, renovated kitchen with tile countertops, tile floors, bedrooms that have carpet, an electric stove, central ac about one year old, an open layout that maximizes natural light and creates a welcoming atmosphere. The one-bedroom unit at the bottom has a gas stove, tile countertops, tile floor in the kitchen and living room, and a patio where you can sit to enjoy the view of the city, and you can use the income of this unit to help you pay for your mortgage, The duplex also features a large backyard that is all dirt right now; you can use your imagination to convert it for your perfect outdoor gatherings and entertainment. Perfect for parking your boat or RV Located just minutes away from shopping, dining, and entertainment options, this duplex is a must-see for anyone seeking the ideal balance of comfort and convenience. Separate electrical meters and gas meters for the unit downstairs. Close to Jack Smith Park and Launching Facility Jack Smith Memorial Park & Launch Facilities include Shade Structures Playground Apparatus, restrooms, Turf Area. Launch Ramp, Beaches, Deep Pit BBQ BBQ’s. Electrical Hookups. Swim Area. Don't miss out on this incredible opportunity to make this duplex your home!

24. 2023-05-16
    historical Active Under Contract 1413-char remark

    Show marketing remark (1413 chars)

    Great Needles Opportunity! Income Property Two Houses! Located in the heart of Needles, this charming duplex offers the perfect comfort and convenience; this duplex features: the main house, renovated kitchen with tile countertops, tile floors, bedrooms that have carpet, an electric stove, central ac about one year old, an open layout that maximizes natural light and creates a welcoming atmosphere. The one-bedroom unit at the bottom has a gas stove, tile countertops, tile floor in the kitchen and living room, and a patio where you can sit to enjoy the view of the city, and you can use the income of this unit to help you pay for your mortgage, The duplex also features a large backyard that is all dirt right now; you can use your imagination to convert it for your perfect outdoor gatherings and entertainment. Perfect for parking your boat or RV Located just minutes away from shopping, dining, and entertainment options, this duplex is a must-see for anyone seeking the ideal balance of comfort and convenience. Separate electrical meters and gas meters for the unit downstairs. Close to Jack Smith Park and Launching Facility Jack Smith Memorial Park & Launch Facilities include Shade Structures Playground Apparatus, restrooms, Turf Area. Launch Ramp, Beaches, Deep Pit BBQ BBQ’s. Electrical Hookups. Swim Area. Don't miss out on this incredible opportunity to make this duplex your home!

25. 2023-04-26
    listed $173,000 Active 1413-char remark

    Show marketing remark (1413 chars)

    Great Needles Opportunity! Income Property Two Houses! Located in the heart of Needles, this charming duplex offers the perfect comfort and convenience; this duplex features: the main house, renovated kitchen with tile countertops, tile floors, bedrooms that have carpet, an electric stove, central ac about one year old, an open layout that maximizes natural light and creates a welcoming atmosphere. The one-bedroom unit at the bottom has a gas stove, tile countertops, tile floor in the kitchen and living room, and a patio where you can sit to enjoy the view of the city, and you can use the income of this unit to help you pay for your mortgage, The duplex also features a large backyard that is all dirt right now; you can use your imagination to convert it for your perfect outdoor gatherings and entertainment. Perfect for parking your boat or RV Located just minutes away from shopping, dining, and entertainment options, this duplex is a must-see for anyone seeking the ideal balance of comfort and convenience. Separate electrical meters and gas meters for the unit downstairs. Close to Jack Smith Park and Launching Facility Jack Smith Memorial Park & Launch Facilities include Shade Structures Playground Apparatus, restrooms, Turf Area. Launch Ramp, Beaches, Deep Pit BBQ BBQ’s. Electrical Hookups. Swim Area. Don't miss out on this incredible opportunity to make this duplex your home!

26. 2023-02-21
    soldstatus $65,000
27. 2003-10-08
    soldstatus $40,000
28. 1993-08-31
    soldstatus $53,000
29. 1989-08-29
    soldstatus $25,000

ⓘ 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: $1,963 · $164/mo
• Projected year-2 tax: $1,963 · $164/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $22,536
• − Mortgage interest: −$11,427
• − Property taxes: −$1,963
• − Insurance: −$1,020
• − Repairs & maintenance: −$1,803
• − Management: −$1,803
• − Depreciation: −$5,935
• Taxable loss: −$1,415
• Est. tax savings @ 24.0%: +$340
• After-tax cash flow: $2,322/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

+736.0% since first listed

12 events — show timeline

• 2026-05-14 Price Changed $209,000 CRMLS
• 2026-04-17 Price Changed $220,000 CRMLS
• 2026-04-14 Listed $210,000 CRMLS
• 2023-06-05 Sold (MLS) $160,000 CRMLS
• 2023-06-02 Sold (Public Records) $160,000 Public Records
• 2023-06-01 Pending — CRMLS
• 2023-05-16 Contingent — CRMLS
• 2023-04-26 Listed $173,000 CRMLS
• 2023-02-21 Sold (Public Records) $65,000 Public Records
• 2003-10-08 Sold (Public Records) $40,000 Public Records
• 1993-08-31 Sold (Public Records) $53,000 Public Records
• 1989-08-29 Sold (Public Records) $25,000 Public Records

Property tax history

+7.9%/yr

Latest (2025): $1,963 · +1.6% YoY. Source: county tax records.