2035 Reedy Ave · San Bernardino, CA 92346

$889,000

20 bd · 10.0 ba · 3,064 sqft · MultiFamily public records · 377 Days on market

Built 1980 9,000 sqft lot $290/sqft · 36% above area Est $656k · 36% 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 +18.7/30.0
• DSCR +5.9/10.0
• 1% rule +4.2/10.0
• Rent growth +3.2/5.0
• Schools +3.1/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

A 4 unit apartment complex located in the city of Highland, California. The apartment building was built in 1980 and the unit mix consists of (4) 2bed/1bath. Each unit has approx. 766 square feet. In addition, the property is conveniently located within a five minute drive to stores such as Stater Bros. Markets, Jiffy Lube, Jack In the Box, del Taco, Walmart, Subway, ALDI, Ross, Applebee's Grill, Starbucks, Burger King and much more!

Key facts

• 9,000 sq ft lot
• 8 parking spots
• Built 1980

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1-bath units multifamily listed at $889k.

Deal economics

• At list price, monthly cash flow is $883 ($11k/yr) — positive. Per door: $221/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 $819k (7.9% below list).
• Recommended offer: $782k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 3.5% in San Bernardino — 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 59/100 on livability (#661 in CA) — a working-class tenant base; expect higher turnover. Strengths: commute A+, housing A; Watch: schools D, employment D, crime F.
• San Bernardino City Unified (urban): math 27% / reading 40% proficiency, ranked #959 of 1,400 in CA (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 81% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.9%/yr); 147 active listings in the ZIP; solid renter incomes; 5,458 units permitted in San Bernardino County in 2024 (1,500 in 5+ unit buildings).
• At $8,186/mo this rent would consume 115% of the median local household income ($85k/yr) (locally 1816% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $27k 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.

Negotiation context

• It's been on market 377 days — a 12% lower offer ($782k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 25y 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 $455k; list at $889k implies a 95% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 6→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $782,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 377 days. Have you received any prior offers? Is the seller open to a 12% 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 D-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 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?
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: 0.92% ✗
• Cap rate: 7.49%
• Cash-on-cash: 4.26%
• DSCR: 1.19
• GRM: 9.1

CMA / ARV

• ARV (median comp): $655,601
• List price: $889,000
• Delta: 35.60%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.91% rent growth · sell at horizon

5-year hold

• IRR: -9.8%
• Equity multiple: 0.64×
• Total profit: $-88,766
• Equity at exit: $132,553

10-year hold

• IRR: -0.5%
• Equity multiple: 0.96×
• Total profit: $-8,794
• Equity at exit: $76,864

Cash invested: $248,920 (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 92346

• Rents YoY: 2.9%
• Active inventory: 147
• Price-to-rent: 36.2×

Monthly cashflow live

• Estimated rent: $8,186 high
• Mortgage (P&I): −$4,662
• Tax from tax record: −$551 /mo · $6,616/yr
• Insurance: −$370
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,719
• Net cashflow: $883

Break-even live

Break-even rent $7,068

Max offer price $889,000

Occupancy floor 84%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$8,188
Total (4 units)			$8,186

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: $222,250
• Closing costs: $26,670
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-18
   days on market $889,000 Active 377 DOM
2. 2026-06-17
   days on market $889,000 Active 376 DOM
3. 2026-06-16
   days on market $889,000 Active 375 DOM
4. 2026-06-15
   days on market $889,000 Active 374 DOM
5. 2026-06-13
   days on market $889,000 Active 372 DOM
6. 2026-06-09
   days on market $889,000 Active 368 DOM
7. 2026-06-08
   days on market $889,000 Active 367 DOM
8. 2026-06-07
   days on market $889,000 Active 366 DOM
9. 2026-06-04
   days on market $889,000 Active 363 DOM
10. 2026-06-03
    days on market $889,000 Active 362 DOM
11. 2026-06-02
    days on market $889,000 Active 361 DOM
12. 2026-06-01
    days on market $889,000 Active 360 DOM
13. 2026-05-31
    days on market $889,000 Active 359 DOM
14. 2025-12-12
    price $889,000 437-char remark

    Show marketing remark (437 chars)

    A 4 unit apartment complex located in the city of Highland, California. The apartment building was built in 1980 and the unit mix consists of (4) 2bed/1bath. Each unit has approx. 766 square feet. In addition, the property is conveniently located within a five minute drive to stores such as Stater Bros. Markets, Jiffy Lube, Jack In the Box, del Taco, Walmart, Subway, ALDI, Ross, Applebee's Grill, Starbucks, Burger King and much more!

15. 2025-09-07
    price $899,000 437-char remark

    Show marketing remark (437 chars)

    A 4 unit apartment complex located in the city of Highland, California. The apartment building was built in 1980 and the unit mix consists of (4) 2bed/1bath. Each unit has approx. 766 square feet. In addition, the property is conveniently located within a five minute drive to stores such as Stater Bros. Markets, Jiffy Lube, Jack In the Box, del Taco, Walmart, Subway, ALDI, Ross, Applebee's Grill, Starbucks, Burger King and much more!

16. 2025-06-06
    listed $925,000 Active 437-char remark

    Show marketing remark (437 chars)

    A 4 unit apartment complex located in the city of Highland, California. The apartment building was built in 1980 and the unit mix consists of (4) 2bed/1bath. Each unit has approx. 766 square feet. In addition, the property is conveniently located within a five minute drive to stores such as Stater Bros. Markets, Jiffy Lube, Jack In the Box, del Taco, Walmart, Subway, ALDI, Ross, Applebee's Grill, Starbucks, Burger King and much more!

17. 2021-02-16
    historical
18. 2020-12-16
    listed $650,000 Active
19. 2020-12-07
    historical
20. 2020-09-23
    listed $639,000 Active
21. 2018-04-30
    soldstatus $455,000
22. 2018-04-30
    soldstatus $455,000 Closed Sale
23. 2018-04-30
    soldstatus $455,000
24. 2018-03-17
    status Pending Sale
25. 2018-02-27
    listed $469,000
26. 2018-02-27
    listed $469,000 Active
27. 2017-12-08
    soldstatus $410,000
28. 2017-03-24
    soldstatus $335,000
29. 2017-03-24
    soldstatus $335,000 Closed Sale
30. 2017-03-23
    soldstatus $335,000
31. 2017-02-13
    status Pending Sale
32. 2017-01-14
    status Active
33. 2017-01-14
    status Pending Sale
34. 2017-01-13
    status Active
35. 2017-01-10
    status Pending Sale
36. 2016-12-30
    status Active
37. 2016-12-22
    status Pending Sale
38. 2016-12-10
    listed $344,900 Active
39. 2016-12-08
    listed $344,900
40. 2015-02-14
    historical
41. 2014-10-22
    listed $337,999 Active
42. 2014-09-26
    historical
43. 2014-09-24
    soldstatus $188,000 Closed Sale
44. 2014-09-17
    status Pending Sale
45. 2014-08-08
    status Pending
46. 2014-07-29
    listed $169,900 Active
47. 2002-06-03
    soldstatus $206,000
48. 2002-06-03
    soldstatus $206,000
49. 2001-04-11
    listed $212,000
50. 1999-02-24
    soldstatus $175,000

ⓘ 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: $6,616 · $551/mo
• Projected year-2 tax: $6,756 · $563/mo
• Expected delta: +$141/yr (+$12/mo · 2.1%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 8/10 Severe 6 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 29 unhealthy d/yr today · 35 by 30 yrs out

Taxation est. · year 1

• Rental income: $98,232
• − Mortgage interest: −$49,798
• − Property taxes: −$6,616
• − Insurance: −$4,445
• − Repairs & maintenance: −$7,859
• − Management: −$7,859
• − Depreciation: −$25,862
• Taxable loss: −$4,206
• Est. tax savings @ 24.0%: +$1,009
• After-tax cash flow: $11,608/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: San Bernardino City Unified
• NCES district ID: 0634170
• Math proficiency: 27% ▲ 1.00%
• Reading proficiency: 40% ▬ 0.00%
• Median HH income: $39,758
• Composite: 30.8/100
• National rank: #11385
• State rank: #959 of 1400 in CA

Livability — San Bernardino

• Score: 59/100
• State rank: #661
• US rank: #20479

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: San Bernardino, CA
• County: San Bernardino County · 2,030,291 people
• City population: 255,614
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 56,179
• Household income: $85,163
• Rent vs Own: 32.9% rent · 67.1% own
• Severe rent burden: 1816.0

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 0.63)
• Race & ethnicity: Hispanic / Latino 53% White 26% Two or more races 14% Black 8% Asian 8% Native American 1%
• Hispanic origin (detail): Mexican 46%
• Common ancestry: Italian 1% Iranian 1% Lithuanian 1%
• Foreign-born: 19% · Canada, Vietnam, South Korea
• Languages at home: 60% English-only · Spanish 32% Vietnamese 2% Tagalog/Filipino 2%

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: ▼ -328.00%
• Current HPI: 367.2829
• Rent YoY: ▲ 2.91%
• 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

+945.9% since first listed

38 events — show timeline

• 2025-12-12 Price Changed $889,000 CRMLS
• 2025-09-07 Price Changed $899,000 CRMLS
• 2025-06-06 Listed $925,000 CRMLS
• 2021-02-16 Listing Removed — CRMLS
• 2020-12-16 Listed $650,000 CRMLS
• 2020-12-07 Listing Removed — CRMLS
• 2020-09-23 Listed $639,000 CRMLS
• 2018-04-30 Sold (Public Records) $455,000 Public Records
• 2018-04-30 Sold (MLS) $455,000 CRMLS
• 2018-04-30 Sold (MLS) $455,000 SDMLS
• 2018-03-17 Pending — CRMLS
• 2018-02-27 Listed $469,000 CRMLS
• 2018-02-27 Listed $469,000 SDMLS
• 2017-12-08 Sold (Public Records) $410,000 Public Records
• 2017-03-24 Sold (MLS) $335,000 CRMLS
• 2017-03-24 Sold (MLS) $335,000 SDMLS
• 2017-03-23 Sold (Public Records) $335,000 Public Records
• 2017-02-13 Pending — CRMLS
• 2017-01-14 Relisted — CRMLS
• 2017-01-14 Pending — CRMLS
• 2017-01-13 Relisted — CRMLS
• 2017-01-10 Pending — CRMLS
• 2016-12-30 Relisted — CRMLS
• 2016-12-22 Pending — CRMLS
• 2016-12-10 Listed $344,900 CRMLS
• 2016-12-08 Listed $344,900 SDMLS
• 2015-02-14 Listing Removed — CRMLS
• 2014-10-22 Listed $337,999 CRMLS
• 2014-09-26 Listing Removed — CRMLS
• 2014-09-24 Sold (MLS) $188,000 CRMLS
• 2014-09-17 Pending — CRMLS
• 2014-08-08 Pending — CRMLS
• 2014-07-29 Listed $169,900 CRMLS
• 2002-06-03 Sold (Public Records) $206,000 Public Records
• 2002-06-03 Sold (MLS) $206,000 CRMLS
• 2001-04-11 Listed $212,000 CRMLS
• 1999-02-24 Sold (Public Records) $175,000 Public Records
• 1999-01-08 Sold (Public Records) $85,000 Public Records

Property tax history

+4.9%/yr

Latest (2025): $6,616 · -0.2% YoY. Source: county tax records.