31072 Azurite Rd · Lucerne Valley, CA 92356

$216,200

1 bd · 1.0 ba · 1,000 sqft · SingleFamily public records · 504 Days on market

Built 1958 2.50 ac lot $216/sqft · at area comps Est $221k · 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 +26.6/30.0
• Appreciation +10.0/10.0
• DSCR +9.1/10.0
• ARV discount +8.6/15.0
• 1% rule +6.8/10.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Livability +2.1/5.0

Listing remarks MLS

This property offers a tranquil environment with a blank canvas and stunning views. It is a recent Real Estate Owned (REO) property. Property has been remodeled. Home repainted, ceilings textured/repainted, kitchen with new cabinets/counter tops, new flooring kitchen & bath, bedroom closet doors installed and more. Home is in almost move-in condition. Property to be sold "AS-IS" no repairs. REO owner has just completed the balance of the interior and this home is now move-in ready. Situated on approximately 2.5 acres (around 331 ft x 335 ft) at the end of a private road, the property is partially fenced around the building, has access to electricity, and benefits from hauled water service through two storage tanks (approximately 3,400 gallons). The land to the east and west is owned by the government, while the parcels to the north and south are privately held. Additional features include a spacious covered patio and a utility room equipped with washer hookups and an electric water heater. Heating is provided by a pellet stove. The property also includes two storage sheds and a newly installed septic system (November 2022). 1-24-25 updated photos added.

Key facts

• 2.5 acre lot
• Built 1958
• Listed 504 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $216k.

Deal economics

• At list price, monthly cash flow is $579 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $216k).
• Recommended offer: $190k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 4.7% in Lucerne 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 42/100 on livability (#1,358 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: cost of living C-, schools F, crime F.
• Lucerne Valley Unified (rural): math 22% / reading 33% proficiency, ranked #1,155 of 1,400 in CA (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 366 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).

Forward outlook

• In year one you build about $23k of equity ($1k loan paydown + $22k 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 + 3.0% rent growth), your $61k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 504 days — a 12% lower offer ($190k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 4y ago; this cycle's ask has dropped $19k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $190,256 (12.0% below list)

Questions for the listing agent

1. It's been on market 504 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1958 — 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. Crime grade is F 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?
7. 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.
8. 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.
9. 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: 1.18% ✓
• Cap rate: 9.51%
• Cash-on-cash: 11.49%
• DSCR: 1.51
• GRM: 7.1

CMA / ARV

• ARV (median comp): $221,438
• List price: $216,200
• Delta: -2.37%
• Verdict: FAIR
• Comps: 4 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 32.7%
• Equity multiple: 3.55×
• Total profit: $154,656
• Equity at exit: $194,770

10-year hold

• IRR: 28.2%
• Equity multiple: 8.04×
• Total profit: $426,419
• Equity at exit: $420,029

Cash invested: $60,536 (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 92356

• Home prices YoY: 20.6%
• Active inventory: 366
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $2,550 medium
• Mortgage (P&I): −$1,134
• Tax from tax record: −$211 /mo · $2,534/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$536
• Net cashflow: $579

Break-even live

Break-even rent $1,817

Max offer price $216,200

Occupancy floor 72%

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: $54,050
• Closing costs: $6,486
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
30881 Pawnee St Unit B Lucerne Valley, CA	2.0	2.0	1100	$2,550	$2.32	2d	1	1.44mi

Listing history 23 events

1. 2026-06-09
   days on market $216,200 Active 504 DOM
2. 2026-06-08
   days on market $216,200 Active 503 DOM
3. 2026-06-07
   days on market $216,200 Active 502 DOM
4. 2026-06-04
   days on market $216,200 Active 499 DOM
5. 2026-06-03
   days on market $216,200 Active 498 DOM
6. 2026-06-02
   days on market $216,200 Active 497 DOM
7. 2026-06-01
   days on market $216,200 Active 496 DOM
8. 2026-05-31
   days on market $216,200 Active 495 DOM
9. 2025-08-04
   price $216,200 1187-char remark

   Show marketing remark (1187 chars)

   This property offers a tranquil environment with a blank canvas and stunning views. It is a recent Real Estate Owned (REO) property. Property has been remodeled. Home repainted, ceilings textured/repainted, kitchen with new cabinets/counter tops, new flooring kitchen & bath, bedroom closet doors installed and more. Home is in almost move-in condition. Property to be sold "AS-IS" no repairs. REO owner has just completed the balance of the interior and this home is now move-in ready. Situated on approximately 2.5 acres (around 331 ft x 335 ft) at the end of a private road, the property is partially fenced around the building, has access to electricity, and benefits from hauled water service through two storage tanks (approximately 3,400 gallons). The land to the east and west is owned by the government, while the parcels to the north and south are privately held. Additional features include a spacious covered patio and a utility room equipped with washer hookups and an electric water heater. Heating is provided by a pellet stove. The property also includes two storage sheds and a newly installed septic system (November 2022). 1-24-25 updated photos added.

10. 2025-01-21
    listed $235,000 Active 1187-char remark

    Show marketing remark (1187 chars)

    This property offers a tranquil environment with a blank canvas and stunning views. It is a recent Real Estate Owned (REO) property. Property has been remodeled. Home repainted, ceilings textured/repainted, kitchen with new cabinets/counter tops, new flooring kitchen & bath, bedroom closet doors installed and more. Home is in almost move-in condition. Property to be sold "AS-IS" no repairs. REO owner has just completed the balance of the interior and this home is now move-in ready. Situated on approximately 2.5 acres (around 331 ft x 335 ft) at the end of a private road, the property is partially fenced around the building, has access to electricity, and benefits from hauled water service through two storage tanks (approximately 3,400 gallons). The land to the east and west is owned by the government, while the parcels to the north and south are privately held. Additional features include a spacious covered patio and a utility room equipped with washer hookups and an electric water heater. Heating is provided by a pellet stove. The property also includes two storage sheds and a newly installed septic system (November 2022). 1-24-25 updated photos added.

11. 2025-01-08
    historical $235,000 1187-char remark

    Show marketing remark (1187 chars)

    This property offers a tranquil environment with a blank canvas and stunning views. It is a recent Real Estate Owned (REO) property. Property has been remodeled. Home repainted, ceilings textured/repainted, kitchen with new cabinets/counter tops, new flooring kitchen & bath, bedroom closet doors installed and more. Home is in almost move-in condition. Property to be sold "AS-IS" no repairs. REO owner has just completed the balance of the interior and this home is now move-in ready. Situated on approximately 2.5 acres (around 331 ft x 335 ft) at the end of a private road, the property is partially fenced around the building, has access to electricity, and benefits from hauled water service through two storage tanks (approximately 3,400 gallons). The land to the east and west is owned by the government, while the parcels to the north and south are privately held. Additional features include a spacious covered patio and a utility room equipped with washer hookups and an electric water heater. Heating is provided by a pellet stove. The property also includes two storage sheds and a newly installed septic system (November 2022). 1-24-25 updated photos added.

12. 2024-12-12
    historical
13. 2024-11-16
    status Active
14. 2024-11-01
    status Active
15. 2024-10-16
    status Active
16. 2024-10-02
    status Active
17. 2024-09-04
    status Active
18. 2024-08-27
    listed $239,900 Active
19. 2022-11-30
    soldstatus $190,000 Closed Sale
20. 2022-11-30
    soldstatus $190,000
21. 2022-10-18
    status Pending Sale
22. 2022-08-19
    listed $200,000 Active
23. 1999-08-24
    soldstatus $25,000

ⓘ 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: $2,534 · $211/mo
• Projected year-2 tax: $2,534 · $211/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 7/10 Severe
• 🌡 Heat 7/10 Severe 7 d/yr ≥99°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 30 unhealthy d/yr today · 37 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,600
• − Mortgage interest: −$12,111
• − Property taxes: −$2,534
• − Insurance: −$1,081
• − Repairs & maintenance: −$2,448
• − Management: −$2,448
• − Depreciation: −$6,289
• Taxable income: $3,689
• Est. tax owed @ 24.0%: −$885
• After-tax cash flow: $6,068/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: Lucerne Valley Unified
• NCES district ID: 0600015
• Math proficiency: 22% ▲ 6.00%
• Reading proficiency: 33% ▲ 1.00%
• Median HH income: $28,341
• Composite: 24.98/100
• National rank: #12969
• State rank: #1155 of 1400 in CA

Livability — Lucerne Valley

• Score: 42/100
• State rank: #1358
• US rank: #26994

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lucerne Valley, CA
• Population (ZIP): 6,665

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 0.58)
• Race & ethnicity: White 56% Hispanic / Latino 32% Two or more races 17% Asian 3% Black 3% Native American 2%
• Hispanic origin (detail): Mexican 28% Cuban 2%
• Common ancestry: Italian 4% Lithuanian 2% Romanian 2%
• Foreign-born: 18% · Canada, South Korea
• Languages at home: 70% English-only · Spanish 26% Korean 3% Tagalog/Filipino 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: ▲ 75.34%
• Current HPI: 440.6077
• 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

+764.8% since first listed

15 events — show timeline

• 2025-08-04 Price Changed $216,200 CRMLS
• 2025-01-21 Listed $235,000 CRMLS
• 2025-01-08 Coming Soon $235,000 CRMLS
• 2024-12-12 Listing Removed — CRMLS
• 2024-11-16 Relisted — CRMLS
• 2024-11-01 Relisted — CRMLS
• 2024-10-16 Relisted — CRMLS
• 2024-10-02 Relisted — CRMLS
• 2024-09-04 Relisted — CRMLS
• 2024-08-27 Listed $239,900 CRMLS
• 2022-11-30 Sold (Public Records) $190,000 Public Records
• 2022-11-30 Sold (MLS) $190,000 CRMLS
• 2022-10-18 Pending — CRMLS
• 2022-08-19 Listed $200,000 CRMLS
• 1999-08-24 Sold (Public Records) $25,000 Public Records

Property tax history

+11.0%/yr

Latest (2025): $2,534 · +2.3% YoY. Source: county tax records.