22601 Bear Valley Rd · Apple Valley, CA 92308

$107,888

3 bd · 2.0 ba · 1,344 sqft · Land · 40 Days on market

Built 1989

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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 +7.5/15.0
• Rent growth +3.6/5.0
• Schools +3.1/10.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This lovely newly remodeled 3 bedroom 2 bath doublewide mobile home Is situated In the Apple Valley Highlands surrounded by clean air and beautiful mountain views. Located in a clean, quiet park. This home has a patio and deck, shed, carport, and laundry hook-ups. Forced air and heat. Close to schools, transportation, and shopping. $107888.00 plus monthly space rent of $823.

Key facts

• Close to schools
• Patio and deck
• Laundry hook-ups

Tags

• MOUNTAIN VIEWS
• PATIO AND DECK
• LAUNDRY HOOK-UPS
• CLOSE TO SCHOOLS
• CLOSE TO TRANSPORTATION
• CLOSE TO SHOPPING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $108k.

Deal economics

• At list price, monthly cash flow is $783 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $108k).
• Recommended offer: $105k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.0% vs local median 3.5% in Apple 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 61/100 on livability (#532 in CA) — a middle-class / working-renter tenant base. Strengths: housing A+, commute B+; Watch: employment D+, schools F, crime D-.
• Apple Valley Unified (suburban): math 25% / reading 40% proficiency, ranked #955 of 1,400 in CA (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.3%/yr); 427 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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).
• This rent runs 35% of the median local income ($67k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $746 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• 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 + 4.3% rent growth), your $30k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($105k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $104,651 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.79% ✓
• Cap rate: 15.00%
• Cash-on-cash: 31.10%
• DSCR: 2.38
• GRM: 4.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.3% rent growth · sell at horizon

5-year hold

• IRR: 27.4%
• Equity multiple: 2.16×
• Total profit: $34,974
• Equity at exit: $16,086

10-year hold

• IRR: 35.7%
• Equity multiple: 4.50×
• Total profit: $105,582
• Equity at exit: $9,328

Cash invested: $30,209 (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 92308

• Home prices YoY: -28.8%
• Rents YoY: 4.3%
• Active inventory: 427
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,935 medium
• Mortgage (P&I): −$566
• Tax est. 1.5%: −$135 /mo · $1,618/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$406
• Net cashflow: $783

Break-even live

Break-even rent $944

Max offer price $107,888

Occupancy floor 55%

Sensitivity live

Price	-10% $857	-5% $820	+0% $783	+5% $746	+10% $708
Rent	-10% $630	-5% $706	+0% $783	+5% $859	+10% $936
Rate	-1.0pp $837	-0.5pp $810	base $783	+0.5pp $755	+1.0pp $727

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: $26,972
• Closing costs: $3,237
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22544 Sioux Rd Unit 31 Apple Valley, CA	3.0	2.0	1236	$1,795	$1.45	21d	1	0.35mi
22526 Sioux Rd Unit 12 Apple Valley, CA	2.0	1.5	930	$1,495	$1.61	0d	1	0.35mi
12406 Pawnee Rd Apple Valley, CA	3.0	1.5	1488	$2,200	$1.48	18d	1	1.07mi
21490 Bear Valley Rd Apt A Apple Valley, CA	2.0	1.0	875	$1,595	$1.82	21d	1	1.48mi

Listing history 17 events

1. 2026-06-21
   days on market $107,888 Active 40 DOM
2. 2026-06-18
   days on market $107,888 Active 37 DOM
3. 2026-06-17
   days on market $107,888 Active 36 DOM
4. 2026-06-16
   days on market $107,888 Active 35 DOM
5. 2026-06-15
   days on market $107,888 Active 34 DOM
6. 2026-06-13
   days on market $107,888 Active 32 DOM
7. 2026-06-13
   days on market $107,888 Active 31 DOM
8. 2026-06-09
   days on market $107,888 Active 28 DOM
9. 2026-06-08
   days on market $107,888 Active 27 DOM
10. 2026-06-07
    days on market $107,888 Active 26 DOM
11. 2026-06-04
    days on market $107,888 Active 23 DOM
12. 2026-06-03
    days on market $107,888 Active 22 DOM
13. 2026-06-02
    days on market $107,888 Active 21 DOM
14. 2026-06-01
    days on market $107,888 Active 20 DOM
15. 2026-05-31
    days on market $107,888 Active 19 DOM
16. 2026-05-13
    listed $107,888 Active 377-char remark
17. 1997-07-03
    soldstatus $485,000

ⓘ 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 D · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 7/10 Severe 2 d/yr ≥99°F today · 6 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 25 unhealthy d/yr today · 30 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,218
• − Mortgage interest: −$6,043
• − Property taxes: −$1,618
• − Insurance: −$539
• − Repairs & maintenance: −$1,857
• − Management: −$1,857
• − Depreciation: −$3,139
• Taxable income: $8,163
• Est. tax owed @ 24.0%: −$1,959
• After-tax cash flow: $7,436/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: Apple Valley Unified
• NCES district ID: 0600017
• Math proficiency: 25% ▬ 0.00%
• Reading proficiency: 40% ▬ 0.00%
• Median HH income: $49,264
• Composite: 30.91/100
• National rank: #11351
• State rank: #955 of 1400 in CA

Livability — Apple Valley

• Score: 61/100
• State rank: #532
• US rank: #17800

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Apple Valley, CA
• County: San Bernardino County · 2,030,291 people
• City population: 83,889
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 42,709
• Household income: $66,568
• Rent vs Own: 28.5% rent · 71.5% own
• Severe rent burden: 1389.0

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: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 44% Hispanic / Latino 38% Two or more races 19% Black 9% Asian 3%
• Hispanic origin (detail): Mexican 34%
• Common ancestry: Italian 1% Iranian 1% Slovak 1%
• Foreign-born: 11% · Canada, South Korea
• Languages at home: 75% English-only · Spanish 20% Tagalog/Filipino 1% Other Asian/Pacific 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: ▼ -145.60%
• Current HPI: 359.2305
• Rent YoY: ▲ 4.30%
• 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

-77.8% since first listed

2 events — show timeline

• 2026-05-13 Listed $107,888 FSBO.com
• 1997-07-03 Sold (Public Records) $485,000 Public Records

Property tax history

+2.4%/yr

Latest (2025): $9,527 · +2.9% YoY. Source: county tax records.