382 Bowman Trl

Homestead Valley, CA 92285

$90,000B+

2 bd · 1.0 ba · 1,000 sqft · Built 1959 · SingleFamily · Active · 56 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,250/mo
• Mortgage (P&I): −$472
• Tax + insurance: −$283
• HOA: −$0
• Vac / Maint / Mgmt: −$472
• Net cashflow: $1,022/mo
• Annual: $12,270/yr
• Cap rate: 19.93%
• Cash-on-cash: 48.69%
• DSCR: 3.17
• 1% rule: 2.50%
• Cash to close: $25,200

Investor read

• This is a 2-bed/1.0-bath single-family listed at $90k.
• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• It's been on market 56 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• In year one you build about $10k of equity ($622 loan paydown + $9k appreciation (10.0% local appreciation)).
• Location reads 49/100 on livability (#1,167 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: amenities F, commute F, employment F.
• Morongo Unified (town): math 15% / reading 38% proficiency, ranked #395 of 517 in CA (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Yucca Mesa Elementary (math 24% / reading 24%, grade F, #973 of 1,571 statewide, top 73%, 402 students, 70% FRL); La Contenta Middle (math 11% / reading 27%, grade F, #426 of 498 statewide, top 86%, 650 students, 72% FRL); Yucca Valley High (math 15% / reading 49%, grade F, #674 of 1,170 statewide, top 59%, 1,264 students, 64% FRL).
• Watch-outs: property tax is 3.3% of price; built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 199 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).
• San Bernardino County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 8 sale attempts since 18y 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 $25k; list at $90k implies a 260% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 8→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.