2350 osbun #1 · San Bernardino, CA 92404

$160,000

1 bd · 1.0 ba · 644 sqft · Condo · 115 Days on market

Built 1972 Poor condition $248/sqft · 12% below area Est $182k · 12% under $191/mo HOA · 13% of rent

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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).

• ARV discount +12.9/15.0
• Cash flow +9.8/30.0
• 1% rule +4.4/10.0
• Schools +3.1/10.0
• Livability +3.0/5.0
• DSCR +2.8/10.0
• Rent growth +2.7/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

One of the lowest HOA fees in the area. Community is clean and with good management company. one bed and one bath with average condition. It is a corner and up stair unit with one car garage. Close to 210 freeway, hospital, and grocery store.

Key facts

• $191 HOA
• Garage
• Built 1972

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $160k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $-104 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $145k (9.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $151k (5.6% below list).
• Recommended offer: $145k (9.4% below list) — sets the bar for cash-flow.
• Cap rate 5.5% 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 flat; 103 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 70% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $1k of loan paydown is wiped out by about $5k 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 115 days — a 9% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y 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 $50k; list at $160k implies a 220% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $144,968 (9.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 115 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
11. 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?
12. 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.
13. 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.
14. 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: 0.94% ✗
• Cap rate: 5.51%
• Cash-on-cash: -2.78%
• DSCR: 0.88
• GRM: 8.8

CMA / ARV

• ARV (median comp): $181,923
• List price: $160,000
• Delta: -12.05%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.98% rent growth · sell at horizon

5-year hold

• IRR: -23.5%
• Equity multiple: 0.21×
• Total profit: $-35,411
• Equity at exit: $23,857

10-year hold

• IRR: -26.3%
• Equity multiple: -0.13×
• Total profit: $-50,640
• Equity at exit: $13,834

Cash invested: $44,800 (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 92404

• Rents YoY: 1.0%
• Active inventory: 103
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,510 high
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,400/yr
• Insurance: −$67
• HOA: −$191
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $-104

Break-even live

Break-even rent $1,641

Max offer price $144,968

Occupancy floor —

Sensitivity live

Price	-10% $7	-5% $-49	+0% $-104	+5% $-159	+10% $-214
Rent	-10% $-223	-5% $-164	+0% $-104	+5% $-44	+10% $15
Rate	-1.0pp $-23	-0.5pp $-63	base $-104	+0.5pp $-145	+1.0pp $-188

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1775 E 20th St San Bernardino, CA	1.0	1.0	650	$1,595	$2.45	0d	1	0.28mi
1447 Pumalo St E Unit 6 San Bernardino, CA	2.0	1.0	750	$1,600	$2.13	44d	1	0.43mi
2225 Pumalo St San Bernardino, CA	1.0–2.0	1.0–2.0	750	$1,640	$2.19	44d	1	0.65mi
1405 E Lynwood Dr Unit 15 San Bernardino, CA	1.0	1.0	600	$1,280	$2.13	44d	1	0.76mi
3168 Sanchez St San Bernardino, CA	1.0	1.0	420	$1,500	$3.57	44d	1	0.86mi
1471 E Eureka St San Bernardino, CA	1.0–2.0	1.0	639	$1,495	$2.34	6d	3	1.02mi
7239 Sterling Ave San Bernardino, CA	2.0	1.0	600	$1,750	$2.92	19d	1	1.11mi
26030 E Baseline St San Bernardino, CA	1.0–2.0	1.0	788	$1,450	$1.84	44d	1	1.24mi
1410 Canyon Rd San Bernardino, CA	1.0	1.0	750	$1,250	$1.67	44d	1	1.37mi
2250 Valencia Ave Unit 677 San Bernardino, CA	1.0	1.0	500	$1,375	$2.75	44d	1	1.45mi

HOA detail condo

• Monthly dues: $191 · $2,292/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-21
   days on market $160,000 Active 115 DOM
2. 2026-06-18
   days on market $160,000 Active 112 DOM
3. 2026-06-17
   days on market $160,000 Active 111 DOM
4. 2026-06-16
   days on market $160,000 Active 110 DOM
5. 2026-06-15
   days on market $160,000 Active 109 DOM
6. 2026-06-13
   days on market $160,000 Active 107 DOM
7. 2026-06-09
   days on market $160,000 Active 103 DOM
8. 2026-06-08
   days on market $160,000 Active 102 DOM
9. 2026-06-07
   days on market $160,000 Active 101 DOM
10. 2026-06-04
    days on market $160,000 Active 98 DOM
11. 2026-06-03
    days on market $160,000 Active 97 DOM
12. 2026-06-02
    days on market $160,000 Active 96 DOM
13. 2026-06-01
    days on market $160,000 Active 95 DOM
14. 2026-05-31
    days on market $160,000 Active 94 DOM
15. 2026-02-26
    listed $160,000 Active 242-char remark

    Show marketing remark (242 chars)

    One of the lowest HOA fees in the area. Community is clean and with good management company. one bed and one bath with average condition. It is a corner and up stair unit with one car garage. Close to 210 freeway, hospital, and grocery store.

16. 2014-03-28
    soldstatus $50,000 Closed 145-char remark

    Show marketing remark (145 chars)

    Very Clean, one bed, one bath unit. Great for investor. Complex has pool and BBQ area. Cash buyer required due to number rental units in complex.

17. 2014-02-28
    status Pending 145-char remark

    Show marketing remark (145 chars)

    Very Clean, one bed, one bath unit. Great for investor. Complex has pool and BBQ area. Cash buyer required due to number rental units in complex.

18. 2014-01-13
    listed $52,900 Active 145-char remark

    Show marketing remark (145 chars)

    Very Clean, one bed, one bath unit. Great for investor. Complex has pool and BBQ area. Cash buyer required due to number rental units in complex.

ⓘ 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 X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥101°F today · 20 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: $18,119
• − Mortgage interest: −$8,962
• − Property taxes: −$2,400
• − Insurance: −$800
• − Repairs & maintenance: −$1,450
• − Management: −$1,450
• − HOA: −$2,292
• − Depreciation: −$4,655
• Taxable loss: −$3,889
• Est. tax savings @ 24.0%: +$933
• After-tax cash flow: $-313/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.

Condition & rehab AI · 2 photos

Poor 20/100 Extensive rehab

This property requires extensive repairs and maintenance, including painting the exterior and landscaping, to improve its condition and value.

Repairs flagged

• Major exterior siding — Severe weathering and peeling
• Major exterior paint — Significant peeling and discoloration
• Major landscaping — Overgrown vegetation and unkempt appearance

Value-add opportunities

• Both paint exterior — Enhances curb appeal and property value
• Both landscaping — Improves curb appeal and property value
• Both repair and paint exterior siding — Significant improvement in property appearance and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Severe weathering and peeling	Major	$15,000–50,000
exterior paint · Significant peeling and discoloration	Major	$15,000–50,000
landscaping · Overgrown vegetation and unkempt appearance	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both paint exterior — Enhances curb appeal and property value ↑
• Both landscaping — Improves curb appeal and property value ↑
• Both repair and paint exterior siding — Significant improvement in property appearance and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 63,243
• Household income: $66,701
• Rent vs Own: 49.9% rent · 50.1% own
• Severe rent burden: 3423.0

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% White 16% Two or more races 15% Black 10% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 57%
• Common ancestry: Lithuanian 1% Iranian 1%
• Foreign-born: 22% · Canada, Vietnam
• Languages at home: 46% English-only · Spanish 50% Vietnamese 1% 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: ▼ -538.78%
• Current HPI: 478.0652
• Rent YoY: ▲ 0.98%
• 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

+202.5% since first listed

4 events — show timeline

• 2026-02-26 Listed $160,000 CRMLS
• 2014-03-28 Sold (MLS) $50,000 CRMLS
• 2014-02-28 Pending — CRMLS
• 2014-01-13 Listed $52,900 CRMLS