11560 Sage St · Adelanto, CA 92301

$650,000

9 bd · 3.9 ba · 2,895 sqft · MultiFamily public records · 726 Days on market

Built 1985 10,368 sqft lot Est $579k · 12% 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 +14.0/30.0
• Appreciation +10.0/10.0
• DSCR +4.3/10.0
• Rent growth +3.7/5.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0
• Livability +2.4/5.0
• Schools +2.2/10.0
• ARV discount +2.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Bank Owned. Sold As Is. Seller repaired all drywall, new interior paint in 3 of the 4 units, new interior doors, and much more! Great opportunity. Don't let this one go. Make it yours! 4 Units all 2/1. Priced to sell quickly! Must See. Seller will consider closing costs.

Key facts

• 7.51 cap rate
• 0.24 acre lot
• Garage

Tags

• HIGH CASH FLOW POTENTIAL
• 7.51 CAP RATE

Property features AI

Finance

• Other: Unit rent details (actual / projected): Unit 1 — $1,587 (projected $1,700); Unit 2 — $2,000; Unit 3 — $968 (projected $1,700); Unit 4 — $1,800
• Financial info: Actual annual gross rent reported as $76,250; Net operating income reported as $58,250; Total annual expenses reported as $18,000; Gross rent multiplier reported as 8.5; Units are rental income units; one building on the lot
• HOA & community: Four total units in the complex

Exterior

• Parking: 1-car garage; Total of 4 parking spaces
• Utilities: Utilities details not provided
• Home design: Residential income property; One-story
• Construction: Information on year built and construction materials not provided
• Exterior features: No additional structures on the lot; Lot dimensions approximately 64 x 162

Interior

• Kitchen: Standard kitchens in each rental unit
• Bedrooms: Multiple units with 2 bedrooms each (unit breakdown available)
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Baseboard heating; Swamp cooler(s) for cooling
• Interior features: One-level building
• Laundry & utility: On-site laundry/utility provisions typical for rental units

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.3-bath units multifamily listed at $650k.

Deal economics

• At list price, monthly cash flow is $86 ($1k/yr) — positive. Per door: $29/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 $530k (18.5% below list).
• Recommended offer: $530k (18.5% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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 $5,295/mo this rent would consume 93% 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 $69k of equity ($4k loan paydown + $65k 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 $182k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$112k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 726 days — a 12% lower offer ($572k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 22y ago; this cycle's ask has dropped $50k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $392k; list at $650k implies a 66% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 4→11/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $529,500 (18.5% below list)

Questions for the listing agent

1. It's been on market 726 days. Have you received any prior offers? Is the seller open to a 19% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
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: 0.81% ✗
• Cap rate: 6.45%
• Cash-on-cash: 0.57%
• DSCR: 1.03
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $579,000
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10943 Aztec Ln	0.56mi	8/4.0 (-1)	3,224 (+11%)	19mo	$643,500	$200	34
18202 Casaba Rd	0.27mi	8/6.0 (-1)	3,312 (+14%)	24mo	$570,000	$172	30

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

Projected returns pro-forma

10.0% appreciation · 4.68% rent growth · sell at horizon

5-year hold

• IRR: 25.2%
• Equity multiple: 3.02×
• Total profit: $368,443
• Equity at exit: $585,571

10-year hold

• IRR: 22.6%
• Equity multiple: 7.04×
• Total profit: $1,100,127
• Equity at exit: $1,262,807

Cash invested: $182,000 (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: 30.7×

Monthly cashflow live

• Estimated rent: $5,295 high
• Mortgage (P&I): −$3,409
• Tax from tax record: −$417 /mo · $5,006/yr
• Insurance: −$271
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,112
• Net cashflow: $86

Break-even live

Break-even rent $5,186

Max offer price $650,000

Occupancy floor 93%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.3	$5,295
Total (3 units)			$5,295

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: $162,500
• Closing costs: $19,500
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-18
   days on market $650,000 Active 726 DOM
2. 2026-06-17
   days on market $650,000 Active 725 DOM
3. 2026-06-16
   days on market $650,000 Active 724 DOM
4. 2026-06-15
   days on market $650,000 Active 723 DOM
5. 2026-06-13
   days on market $650,000 Active 721 DOM
6. 2026-06-09
   days on market $650,000 Active 717 DOM
7. 2026-06-08
   days on market $650,000 Active 716 DOM
8. 2026-06-07
   days on market $650,000 Active 715 DOM
9. 2026-06-04
   days on market $650,000 Active 712 DOM
10. 2026-06-03
    days on market $650,000 Active 711 DOM
11. 2026-06-02
    days on market $650,000 Active 710 DOM
12. 2026-06-01
    days on market $650,000 Active 709 DOM
13. 2026-05-31
    days on market $650,000 Active 708 DOM
14. 2026-04-03
    status Active
15. 2026-02-11
    status Active
16. 2026-01-17
    historical Backup Offers Accepted
17. 2025-03-04
    price $625,000
18. 2025-02-03
    price $650,000
19. 2024-12-16
    price $675,000
20. 2024-10-03
    price $699,999
21. 2024-06-01
    listed $700,000 Active
22. 2020-10-27
    soldstatus $392,500
23. 2011-08-20
    historical
24. 2011-04-26
    listed $65,000 Active
25. 2008-02-28
    soldstatus $240,000 271-char remark

    Show marketing remark (271 chars)

    Bank Owned. Sold As Is. Seller repaired all drywall, new interior paint in 3 of the 4 units, new interior doors, and much more! Great opportunity. Don't let this one go. Make it yours! 4 Units all 2/1. Priced to sell quickly! Must See. Seller will consider closing costs.

26. 2007-10-15
    historical
27. 2007-02-14
    listed $465,000
28. 2006-12-16
    historical
29. 2006-06-16
    listed $389,000
30. 2004-10-15
    soldstatus $192,000
31. 2004-10-15
    soldstatus $192,000
32. 2004-10-15
    soldstatus $192,000
33. 2004-09-07
    listed $200,000
34. 1990-01-30
    soldstatus $145,000

ⓘ 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: $5,006 · $417/mo
• Projected year-2 tax: $5,006 · $417/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 X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 4 d/yr ≥99°F today · 11 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: $63,540
• − Mortgage interest: −$36,410
• − Property taxes: −$5,006
• − Insurance: −$3,250
• − Repairs & maintenance: −$5,083
• − Management: −$5,083
• − Depreciation: −$18,909
• Taxable loss: −$10,202
• Est. tax savings @ 24.0%: +$2,448
• After-tax cash flow: $3,485/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

+331.0% since first listed

21 events — show timeline

• 2026-04-03 Relisted — TheMLS
• 2026-02-11 Relisted — TheMLS
• 2026-01-17 Contingent — TheMLS
• 2025-03-04 Price Changed $625,000 TheMLS
• 2025-02-03 Price Changed $650,000 TheMLS
• 2024-12-16 Price Changed $675,000 TheMLS
• 2024-10-03 Price Changed $699,999 TheMLS
• 2024-06-01 Listed $700,000 TheMLS
• 2020-10-27 Sold (Public Records) $392,500 Public Records
• 2011-08-20 Listing Removed — CRMLS
• 2011-04-26 Listed $65,000 CRMLS
• 2008-02-28 Sold (MLS) $240,000 CRMLS
• 2007-10-15 Listing Removed — CRMLS
• 2007-02-14 Listed $465,000 CRMLS
• 2006-12-16 Listing Removed — CRMLS
• 2006-06-16 Listed $389,000 CRMLS
• 2004-10-15 Sold (Public Records) $192,000 Public Records
• 2004-10-15 Sold (MLS) $192,000 CRMLS
• 2004-10-15 Sold (MLS) $192,000 CRMLS
• 2004-09-07 Listed $200,000 CRMLS
• 1990-01-30 Sold (Public Records) $145,000 Public Records

Property tax history

-0.3%/yr

Latest (2025): $5,006 · +7.1% YoY. Source: county tax records.