11754 Hardy · Adelanto, CA 92301

$379,000

6 bd · 4.0 ba · 903 sqft · MultiFamily public records · 108 Days on market

Built 1964 6,720 sqft lot

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Why this score? — see what drove the C- 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 +16.1/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.0/10.0
• 1% rule +4.4/10.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Livability +2.4/5.0
• Schools +2.2/10.0

Multi-family units

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

Listing remarks MLS

Duplex In Good Shape Currently Empty Call John Simpson For Details And Combo 909-295-6588

Key facts

• 6,720 sq ft lot
• 4 parking spots
• Built 1964

Property features AI

Finance

• Financial info: Total building area 1,113; Gross scheduled income approximately $12,000; Gross income approximately $11,000; Net operating income approximately $9,600; Operating expenses / total expenses approximately $2,400; Insurance approx. $1,200; Water/Sewer approx. $1,000; Trash approx. $200
• HOA & community: Rural community

Exterior

• Parking: Unpaved driveway; Four uncovered parking spaces
• Utilities: Public sewer; District/public water; Sewer, electricity, and water connected; One separate water meter; Two separate electric meters
• Home design: Multifamily property with 2 total units; Single-story (1 story); No ADU
• Construction: Updated/remodeled construction; One building
• Exterior features: Tile roof; No pool; Energy-efficient insulation and windows; Lot zoned roughly 2–5 units per acre; Attached property with one common wall

Interior

• Kitchen: Kitchens included in each unit
• Bedrooms: One 1-bedroom unit (downstairs); One 2-bedroom unit (downstairs)
• Bathrooms: Each unit has one full bathroom
• Heating & cooling: Electric heating; Combination heating system; Dual cooling; Electric cooling; Wall/window units
• Interior features: Single-story layout; All bedrooms on main level; Updated / remodeled condition; Entry at ground level
• Laundry & utility: Laundry available outdoors

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $379k.

Deal economics

• At list price, monthly cash flow is $196 ($2k/yr) — positive. Per door: $98/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 $356k (6.0% below list).
• Recommended offer: $345k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.9% 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; 5,458 units permitted in San Bernardino County in 2024 (1,500 in 5+ unit buildings).
• At $3,564/mo this rent would consume 62% of the median local household income ($69k/yr) (locally 1345% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $41k of equity ($3k loan paydown + $38k 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 $106k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$65k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($345k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $145k; list at $379k implies a 161% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 5→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $344,890 (9.0% below list)

Questions for the listing agent

1. It's been on market 108 days. Have you received any prior offers? Is the seller open to a 9% 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 1964 — 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 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.94% ✗
• Cap rate: 6.91%
• Cash-on-cash: 2.22%
• DSCR: 1.10
• GRM: 8.9

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: 26.5%
• Equity multiple: 3.12×
• Total profit: $225,099
• Equity at exit: $341,433

10-year hold

• IRR: 23.7%
• Equity multiple: 7.28×
• Total profit: $666,460
• Equity at exit: $736,314

Cash invested: $106,120 (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 92301

• Home prices YoY: 10.0%
• Rents YoY: 4.7%
• Active inventory: 615
• Price-to-rent: 17.7×

Monthly cashflow live

• Estimated rent: $3,564 medium
• Mortgage (P&I): −$1,988
• Tax est. 1.5%: −$474 /mo · $5,685/yr
• Insurance: −$158
• HOA: −$0
• Vacancy / Maint / Mgmt: −$748
• Net cashflow: $196

Break-even live

Break-even rent $3,315

Max offer price $379,000

Occupancy floor 89%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,564
Total (2 units)			$3,564

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: $94,750
• Closing costs: $11,370
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $379,000 Active 108 DOM
2. 2026-06-17
   days on market $379,000 Active 107 DOM
3. 2026-06-16
   days on market $379,000 Active 106 DOM
4. 2026-06-15
   days on market $379,000 Active 105 DOM
5. 2026-06-13
   days on market $379,000 Active 103 DOM
6. 2026-06-09
   days on market $379,000 Active 99 DOM
7. 2026-06-08
   days on market $379,000 Active 98 DOM
8. 2026-06-07
   days on market $379,000 Active 97 DOM
9. 2026-06-04
   days on market $379,000 Active 94 DOM
10. 2026-06-03
    days on market $379,000 Active 93 DOM
11. 2026-06-02
    days on market $379,000 Active 92 DOM
12. 2026-06-01
    days on market $379,000 Active 91 DOM
13. 2026-05-31
    days on market $379,000 Active 90 DOM
14. 2026-03-02
    listed $379,000 Active
15. 2026-02-28
    historical $379,000
16. 2006-04-14
    soldstatus $145,000
17. 2001-10-15
    soldstatus $29,900 89-char remark

    Show marketing remark (89 chars)

    Duplex In Good Shape Currently Empty Call John Simpson For Details And Combo 909-295-6588

18. 2001-09-26
    soldstatus $29,900 105-char remark

    Show marketing remark (105 chars)

    Duplex 1 Bed 1 Bath Each Call John Simpson 909-496-6930 Good Shape Vacant Being Sold As Is Great Potental

19. 2001-09-25
    soldstatus $25,000
20. 1997-06-06
    soldstatus $16,000
21. 1992-12-09
    soldstatus $500
22. 1990-03-14
    soldstatus $57,500
23. 1987-05-06
    soldstatus $50,000
24. 1986-11-24
    soldstatus $37,000
25. 1978-01-01
    soldstatus $20,500

ⓘ 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 5 d/yr ≥99°F today · 14 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: $42,768
• − Mortgage interest: −$21,230
• − Property taxes: −$5,685
• − Insurance: −$1,895
• − Repairs & maintenance: −$3,421
• − Management: −$3,421
• − Depreciation: −$11,025
• Taxable loss: −$3,910
• Est. tax savings @ 24.0%: +$938
• After-tax cash flow: $3,295/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

+1748.8% since first listed

12 events — show timeline

• 2026-03-02 Listed $379,000 CRMLS
• 2026-02-28 Coming Soon $379,000 CRMLS
• 2006-04-14 Sold (Public Records) $145,000 Public Records
• 2001-10-15 Sold (MLS) $29,900 CRMLS
• 2001-09-26 Sold (MLS) $29,900 CRMLS
• 2001-09-25 Sold (Public Records) $25,000 Public Records
• 1997-06-06 Sold (Public Records) $16,000 Public Records
• 1992-12-09 Sold (Public Records) $500 Public Records
• 1990-03-14 Sold (Public Records) $57,500 Public Records
• 1987-05-06 Sold (Public Records) $50,000 Public Records
• 1986-11-24 Sold (Public Records) $37,000 Public Records
• 1978-01-01 Sold (Public Records) $20,500 Public Records

Property tax history

-8.4%/yr

Latest (2025): $386 · +6.9% YoY. Source: county tax records.