39148 Rim Of The World Dr · Big Bear Lake, CA 92333

$399,000

3 bd · 3.0 ba · 1,509 sqft · SingleFamily public records · 25 Days on market

Built 1957 3,536 sqft lot Est $490k · 19% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

4-bedroom, 3-bath home located on a corner lot in Fawnskin. Features include a spacious living room with a full-wall rock fireplace and efficient wood-burning stove, open floor plan, and kitchen with ample counter space. Recent updates include newer carpet, a remodeled bathroom, and a brand-new washing machine. The property offers a carport, fenced backyard, and a functional layout with potential for a variety of living arrangements. Conveniently located within walking distance to Big Bear Lake and the National Forest, and just minutes from the Village, ski resorts, hiking trails, and other year-round recreational amenities. A great opportunity for a primary residence, second home, orinvest

Key facts

• National forest
• Remodeled bathroom
• Fenced backyard

Tags

• CORNER LOT
• FULL-WALL ROCK FIREPLACE
• EFFICIENT WOOD-BURNING STOVE
• REMODELED BATHROOM
• FENCED BACKYARD
• NATIONAL FOREST

Property features AI

Exterior

• Parking: Carport; No garage; Parking spaces available
• Utilities: Electricity connected; Natural gas connected; Public water; Sewer connected
• Home design: Single-story; Stick-built construction; Composition roof; Slab foundation
• Construction: Built with stick-frame construction; Composition roof; Slab foundation
• Exterior features: Paved driveway; Blacktop driveway; Partial fencing; Fence; Storage structure; Level topography; Has view

Interior

• Kitchen: Gas range; Microwave; Disposal; Refrigerator
• Bedrooms: Total of 5 rooms (includes bedrooms and other rooms)
• Flooring: Laminate; Partially carpeted; Vinyl
• Bathrooms: 1 full bathroom; 2 three-quarter bathrooms
• Heating & cooling: Natural gas heating; Wood stove; Wall furnace; Ceiling fans; Wall/window cooling units
• Interior features: Vaulted ceilings; Living/Dining room; Mud room; Window treatments; Drapes; Furnished
• Laundry & utility: Washer hookup; Dryer hookup; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $399k.

Deal economics

• At list price, monthly cash flow is $4k ($51k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $399k).
• Recommended offer: $393k (1.5% below list) — sets the bar for market timing.
• Cap rate 19.3% vs local median 2.4% in Big Bear Lake — 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 64/100 on livability (#420 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+; Watch: crime C-, housing C-, health & safety D+.
• Bear Valley Unified (town): math 26% / reading 43% proficiency, ranked #289 of 517 in CA (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 77 active listings in the ZIP; 2 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

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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 + 3.0% rent growth), your $112k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($393k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $210k; list at $399k implies a 90% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $393,015 (1.5% below list)

Questions for the listing agent

1. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 2.18% ✓
• Cap rate: 19.35%
• Cash-on-cash: 46.62%
• DSCR: 3.07
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $490,425
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
39239 Mohawk Dr	0.13mi	4/2.0 (+1)	1,548 (+3%)	7mo	$435,000	$281	75
39186 Mohawk Dr	0.05mi	2/2.0 (-1)	1,512 (+0%)	18mo	$475,000	$314	73
39474 Cline Miller Pl	0.41mi	3/2.5	1,513 (+0%)	10mo	$477,000	$315	70
39110 Choctaw Dr	0.16mi	3/2.0	1,380 (-8%)	22mo	$400,000	$290	56
954 Chinook Rd	0.70mi	3/2.0	1,475 (-2%)	8mo	$480,000	$325	52
39389 N Shore Dr	0.39mi	3/2.0	1,338 (-11%)	13mo	$585,000	$437	48
39654 Flicker Rd	0.70mi	3/2.0	1,350 (-10%)	1mo	$760,000	$563	45
1085 Canyon Rd	0.74mi	3/2.0	1,314 (-13%)	21mo	$519,900	$396	22
908 Canyon Rd	0.65mi	4/2.0 (+1)	1,728 (+14%)	24mo	$580,000	$336	17

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

Projected returns pro-forma

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

5-year hold

• IRR: 43.1%
• Equity multiple: 2.86×
• Total profit: $207,571
• Equity at exit: $59,492

10-year hold

• IRR: 49.2%
• Equity multiple: 5.76×
• Total profit: $531,362
• Equity at exit: $34,498

Cash invested: $111,720 (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 92333

• Home prices YoY: -7.9%
• Active inventory: 77
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $8,688 medium
• Mortgage (P&I): −$2,092
• Tax from tax record: −$265 /mo · $3,180/yr
• Insurance: −$166
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,825
• Net cashflow: $4,274

Break-even live

Break-even rent $3,279

Max offer price $399,000

Occupancy floor 46%

Sensitivity live

Price	-10% $4,500	-5% $4,387	+0% $4,274	+5% $4,161	+10% $4,048
Rent	-10% $3,587	-5% $3,931	+0% $4,274	+5% $4,617	+10% $4,960
Rate	-1.0pp $4,475	-0.5pp $4,375	base $4,274	+0.5pp $4,170	+1.0pp $4,065

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
39254 Cedar Dell Rd Fawnskin, CA	4.0	3.0	1876	$10,500	$5.60	0d	1	0.18mi
1090 Bruin Trl Fawnskin, CA	4.0	3.5	2036	$4,000	$1.96	0d	1	0.42mi

Listing history 21 events

1. 2026-06-21
   days on market $399,000 Active 25 DOM
2. 2026-06-18
   days on market $399,000 Active 22 DOM
3. 2026-06-17
   days on market $399,000 Active 21 DOM
4. 2026-06-16
   days on market $399,000 Active 20 DOM
5. 2026-06-15
   days on market $399,000 Active 19 DOM
6. 2026-06-13
   days on market $399,000 Active 17 DOM
7. 2026-06-13
   days on market $399,000 Active 16 DOM
8. 2026-06-09
   days on market $399,000 Active 13 DOM
9. 2026-06-08
   days on market $399,000 Active 12 DOM
10. 2026-06-07
    days on market $399,000 Active 11 DOM
11. 2026-06-04
    days on market $399,000 Active 8 DOM
12. 2026-06-03
    days on market $399,000 Active 7 DOM
13. 2026-06-02
    days on market $399,000 Active 6 DOM
14. 2026-06-01
    days on market $399,000 Active 5 DOM
15. 2026-05-31
    days on market $399,000 Active 4 DOM
16. 2026-05-26
    listed $399,000 Active
17. 2026-02-09
    historical
18. 2025-08-08
    listed $425,000 Active
19. 2010-05-24
    soldstatus $210,000
20. 2002-06-07
    soldstatus $125,000
21. 1992-09-23
    soldstatus $91,000

ⓘ 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: $3,180 · $265/mo
• Projected year-2 tax: $3,180 · $265/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 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 2/10 Low 9 d/yr ≥83°F today · 26 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 24 unhealthy d/yr today · 30 by 30 yrs out

Taxation est. · year 1

• Rental income: $104,261
• − Mortgage interest: −$22,350
• − Property taxes: −$3,180
• − Insurance: −$2,792
• − Repairs & maintenance: −$8,341
• − Management: −$8,341
• − Depreciation: −$11,607
• Taxable income: $47,649
• Est. tax owed @ 24.0%: −$11,436
• After-tax cash flow: $39,849/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: Bear Valley Unified
• NCES district ID: 0604230
• Math proficiency: 26% ▼ -4.00%
• Reading proficiency: 43% ▼ -4.00%
• Median HH income: $42,222
• Composite: 29.12/100
• National rank: #6588
• State rank: #289 of 517 in CA

Livability — Big Bear Lake

• Score: 64/100
• State rank: #420
• US rank: #14284

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 5,215
• Population (ZIP): 403

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 White (91%)
• Race & ethnicity: White 91% Two or more races 9% Hispanic / Latino 2%
• Common ancestry: Lithuanian 18% Italian 6% Scottish 6%
• Foreign-born: 7% · Canada
• Languages at home: 82% English-only · Spanish 9% Other Indo-European 6% French/Haitian/Cajun 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: ▼ -27.30%
• Current HPI: 318.6629
• 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

+338.5% since first listed

6 events — show timeline

• 2026-05-26 Listed $399,000 MRCAOR
• 2026-02-09 Listing Removed — GPSMLS
• 2025-08-08 Listed $425,000 GPSMLS
• 2010-05-24 Sold (Public Records) $210,000 Public Records
• 2002-06-07 Sold (Public Records) $125,000 Public Records
• 1992-09-23 Sold (Public Records) $91,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $3,180 · +2.9% YoY. Source: county tax records.