82962 Panamint Ave · Searles Valley, CA 93562

$39,000

2 bd · 1.0 ba · 1,224 sqft · SingleFamily public records · 110 Days on market

Built 1918 9,506 sqft lot $32/sqft · at area comps Est $40k · at est.

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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
• ARV discount +8.5/15.0
• Appreciation +5.0/10.0
• Livability +3.1/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This property is perfect for investors or buyers eager to renovate and add value. Key utilities are already in place including sewer, water, electric, and gas meters-making your renovation process that much easier. Inside, you'll find a centrally located kitchen and an oversized full bathroom, offering a flexible layout ready for your personal touch. Enjoy relaxing on the covered front porch or take advantage of the fully fenced lot with ample outdoor space, a storage shed, and an additional outbuilding for all your needs. Seller financing is available with as little as $15,000 down and a 24-month carry making this the ideal opportunity for both first-time buyers and seasoned investors. Ready to make this home your own? Schedule a showing today!

Key facts

• Ample space
• Mostly fenced yard
• 9,506 sq ft lot

Tags

• AMPLE SPACE
• MOSTLY FENCED YARD
• COVERED WRAP FRONT PORCH

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $39k.

Deal economics

• At list price, monthly cash flow is $339 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($749 rent vs $39k).
• Recommended offer: $35k (9.0% below list) — sets the bar for market timing.
• Cap rate 16.7% vs local median 10.4% in Searles Valley — 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 (#500 in CA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: health & safety C-, schools F, amenities F.
• Trona Joint Unified (rural): math 25% / reading 40% proficiency, ranked #1,004 of 1,400 in CA (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 56 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 5,458 units permitted in San Bernardino County in 2024 (1,500 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($270 loan paydown + $1k 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 $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 110 days — a 9% lower offer ($35k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $31k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1918 — 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 $35,490 (9.0% below list)

Questions for the listing agent

1. It's been on market 110 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1918 — 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. 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.
7. 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.
8. 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: 1.92% ✓
• Cap rate: 16.73%
• Cash-on-cash: 37.29%
• DSCR: 2.66
• GRM: 4.3

CMA / ARV

• ARV (median comp): $39,928
• List price: $39,000
• Delta: -2.32%
• Verdict: FAIR
• Comps: 19 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13319 Wildrose St	0.52mi	2/1.0	1,145 (-6%)	8mo	$95,000	$83	58
13322 Mariposa St	0.35mi	2/1.0	1,104 (-10%)	12mo	$62,500	$57	57
13407 Holly St	0.65mi	2/1.0	1,145 (-6%)	7mo	$109,000	$95	53
13285 Lupine St	0.47mi	2/1.0	1,104 (-10%)	23mo	$14,900	$13	42
13408 Sage St	0.74mi	3/2.0 (+1)	1,385 (+13%)	13mo	$169,900	$123	23

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

Projected returns pro-forma

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

5-year hold

• IRR: 42.9%
• Equity multiple: 3.41×
• Total profit: $26,311
• Equity at exit: $17,536

10-year hold

• IRR: 42.7%
• Equity multiple: 6.80×
• Total profit: $63,384
• Equity at exit: $27,025

Cash invested: $10,920 (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 93562

• Active inventory: 56
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $749 medium
• Mortgage (P&I): −$205
• Tax from tax record: −$32 /mo · $381/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$157
• Net cashflow: $339

Break-even live

Break-even rent $320

Max offer price $39,000

Occupancy floor 50%

Sensitivity live

Price	-10% $361	-5% $350	+0% $339	+5% $328	+10% $317
Rent	-10% $280	-5% $310	+0% $339	+5% $369	+10% $399
Rate	-1.0pp $359	-0.5pp $349	base $339	+0.5pp $329	+1.0pp $319

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: $9,750
• Closing costs: $1,170
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13350 Aster St Trona, CA	2.0	1.0	720	$825	$1.15	44d	1	0.43mi
13366 Verbena St Trona, CA	2.0	1.0	800	$700	$0.88	44d	1	0.64mi
13358 Verbena St Trona, CA	2.0	1.0	835	$700	$0.84	44d	1	0.64mi

Listing history 19 events

1. 2026-06-18
   days on market $39,000 Active 110 DOM
2. 2026-06-17
   days on market $39,000 Active 109 DOM
3. 2026-06-16
   days on market $39,000 Active 108 DOM
4. 2026-06-15
   days on market $39,000 Active 107 DOM
5. 2026-06-14
   days on market $39,000 Active 105 DOM
6. 2026-06-13
   days on market $39,000 Active 104 DOM
7. 2026-06-10
   days on market $39,000 Active 102 DOM
8. 2026-06-09
   days on market $39,000 Active 101 DOM
9. 2026-06-08
   days on market $39,000 Active 100 DOM
10. 2026-06-07
    days on market $39,000 Active 99 DOM
11. 2026-06-05
    days on market $39,000 Active 96 DOM
12. 2026-06-03
    days on market $39,000 Active 95 DOM
13. 2026-06-03
    days on market $39,000 Active 94 DOM
14. 2026-06-01
    days on market $39,000 Active 93 DOM
15. 2026-05-31
    days on market $39,000 Active 92 DOM
16. 2026-03-08
    status Active 755-char remark

    Show marketing remark (755 chars)

    This property is perfect for investors or buyers eager to renovate and add value. Key utilities are already in place including sewer, water, electric, and gas meters-making your renovation process that much easier. Inside, you'll find a centrally located kitchen and an oversized full bathroom, offering a flexible layout ready for your personal touch. Enjoy relaxing on the covered front porch or take advantage of the fully fenced lot with ample outdoor space, a storage shed, and an additional outbuilding for all your needs. Seller financing is available with as little as $15,000 down and a 24-month carry making this the ideal opportunity for both first-time buyers and seasoned investors. Ready to make this home your own? Schedule a showing today!

17. 2026-02-28
    listed $39,000 Active 353-char remark

    Show marketing remark (353 chars)

    Great investor property, Featuring ample space to relay out your perfect home. Seller financing available for up to 2 years with 15,000 down. Gas meter, water meter and electric meter still on property, Additional structures include 2 sheds, mostly fenced yard. Make this a must see today, covered wrap front porch is perfect feel for old time settings.

18. 2025-12-31
    listed $39,000 Active 755-char remark

    Show marketing remark (755 chars)

    This property is perfect for investors or buyers eager to renovate and add value. Key utilities are already in place including sewer, water, electric, and gas meters-making your renovation process that much easier. Inside, you'll find a centrally located kitchen and an oversized full bathroom, offering a flexible layout ready for your personal touch. Enjoy relaxing on the covered front porch or take advantage of the fully fenced lot with ample outdoor space, a storage shed, and an additional outbuilding for all your needs. Seller financing is available with as little as $15,000 down and a 24-month carry making this the ideal opportunity for both first-time buyers and seasoned investors. Ready to make this home your own? Schedule a showing today!

19. 1985-09-27
    soldstatus $31,000

ⓘ 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: $381 · $32/mo
• Projected year-2 tax: $381 · $32/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 D · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $8,991
• − Mortgage interest: −$2,185
• − Property taxes: −$381
• − Insurance: −$195
• − Repairs & maintenance: −$719
• − Management: −$719
• − Depreciation: −$1,135
• Taxable income: $3,657
• Est. tax owed @ 24.0%: −$878
• After-tax cash flow: $3,194/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: Trona Joint Unified
• NCES district ID: 0639840
• Math proficiency: 25% ▲ 5.00%
• Reading proficiency: 40% ▲ 5.00%
• Median HH income: $35,514
• Composite: 29.6/100
• National rank: #11751
• State rank: #1004 of 1400 in CA

Livability — Searles Valley

• Score: 62/100
• State rank: #500
• US rank: #16976

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Searles Valley, CA
• Population (ZIP): 1,822

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 White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 22% Two or more races 14% Black 2% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 16% Cuban 2%
• Common ancestry: Italian 6% Slovak 2% Russian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 94% English-only · Spanish 4% 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: —
• 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

+25.8% since first listed

4 events — show timeline

• 2026-03-08 Relisted — SSMLS
• 2026-02-28 Listed $39,000 GPSMLS
• 2025-12-31 Listed $39,000 SSMLS
• 1985-09-27 Sold (Public Records) $31,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $381 · +1.9% YoY. Source: county tax records.