3850 ATLANTIC Ave #165 · San Bernardino, CA 92346

$139,000

2 bd · 2.0 ba · 1,440 sqft · Manufactured public records · 50 Days on market

Built 1978 $97/sqft · at area comps Est $146k · at est. ↓ 4% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +9.7/15.0
• Rent growth +3.2/5.0
• Schools +3.1/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

YES, THIS IS IT!! A beautifully upgraded "Country Charmer" is ready for her new owner! Located in the highly sought after 55+ Valencia Lea community in Highland! This 1978 Royal encompasses 1,440 sq. ft. and includes 2 beds & 2 bathrooms. Generous sized primary bedroom with XL closet with organizational shelving. Has Modern light fixtures and fans. * COMPLETELY REMODELED KITCHEN WITH MODERN FOOTPRINT * UPGRADED WINDOWS * 5 YEAR OLD ROOF * NEWER VINYL FLOORING * UPDATED ELECTRICAL AND PLUMBING * NEW HVAC INSTALLED IN DECEMBER 25' * Park has incredible amenities, pool, 2 jacuzzis, Gazebo, 2 clubhouses, weekly activities, gym, library, billiard, Redwood tree walking path

Key facts

• 2 parking spots
• Community pool
• Built 1978

Property features AI

Finance

• Other: Lot features: 0-1 unit per acre; Elevation measured in feet
• Financial info: Land lease of $1,035 per month (seller provided); Rent includes trash and water
• HOA & community: Senior community; Park and community pool; Located in VALENCIA LEA park

Exterior

• Parking: 2 parking spaces; 2 carport spaces
• Utilities: Public sewer; District/public water
• Home design: Single-story mobile home (24' x 60'); Mobile home remains on site
• Construction: Year built per assessor; One story
• Exterior features: Community pool; Park in the community; One shed on the property; East-facing

Interior

• Kitchen: Quartz counters
• Bedrooms: All bedrooms on ground/main level
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (furnace); Central cooling
• Interior features: Quartz counters; Built-in storage; Storage space; Double-pane windows; Single-level home with main entry on the main level
• Laundry & utility: Laundry inside the home

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $139k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Recommended offer: $135k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.9% 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; 12 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 5,458 units permitted in San Bernardino County in 2024 (1,500 in 5+ unit buildings).
• This rent runs 35% of the median local income ($85k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $961 of loan paydown is wiped out by about $4k 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 + 2.9% rent growth), your $39k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($135k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 4→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $134,830 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
6. 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.
7. 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.
8. 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: 1.79% ✓
• Cap rate: 14.92%
• Cash-on-cash: 30.82%
• DSCR: 2.37
• GRM: 4.7

CMA / ARV

• ARV (median comp): $146,304
• List price: $139,000
• Delta: -4.99%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3850 Atlantic Ave #276	0.00mi	2/2.0	1,440 (0%)	0mo	$102,500	$71	100
3850 Atlantic Ave #207	0.00mi	2/2.0	1,428 (-1%)	1mo	$208,000	$146	98
3850 Atlantic Ave #287	0.00mi	2/2.0	1,440 (0%)	2mo	$200,000	$139	98
3850 E Atlantic Ave #284	0.00mi	2/2.0	1,440 (0%)	3mo	$159,900	$111	98
3850 Atlantic Ave #212	0.09mi	2/2.0	1,440 (0%)	1mo	$145,000	$101	95
3850 Atlantic #260	0.09mi	2/2.0	1,440 (0%)	2mo	$85,000	$59	94
3850 Atlantic Ave #189	0.00mi	2/2.0	1,344 (-7%)	2mo	$90,000	$67	87
3850 Atlantic Ave #274	0.09mi	2/2.0	1,344 (-7%)	5mo	$133,000	$99	81
3850 Atlantic Ave #151	0.09mi	2/2.0	1,600 (+11%)	1mo	$90,000	$56	77
4040 Piedmont Dr #283	0.68mi	2/2.0	1,560 (+8%)	1mo	$144,500	$93	54
4040 E Piedmont Dr #300	0.68mi	3/2.0 (+1)	1,536 (+7%)	0mo	$120,000	$78	52
4040 Piedmont Dr #324	0.68mi	3/2.0 (+1)	1,646 (+14%)	2mo	$225,400	$137	38

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 · 2.91% rent growth · sell at horizon

5-year hold

• IRR: 25.5%
• Equity multiple: 2.05×
• Total profit: $40,950
• Equity at exit: $20,725

10-year hold

• IRR: 33.1%
• Equity multiple: 4.00×
• Total profit: $116,866
• Equity at exit: $12,018

Cash invested: $38,920 (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: 4.7×

Monthly cashflow live

• Estimated rent: $2,481 high
• Mortgage (P&I): −$729
• Tax est. 1.5%: −$174 /mo · $2,085/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$521
• Net cashflow: $1,000

Break-even live

Break-even rent $1,216

Max offer price $139,000

Occupancy floor 55%

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3532 Rainbow Ln Highland, CA	2.0	1.0	882	$2,100	$2.38	1d	1	0.43mi
6787 Cole Ave Highland, CA	2.0–3.0	2.0	1005	$2,125	$2.11	1d	1	0.45mi
3495 21st St Unit B Highland, CA	2.0	2.0	1000	$2,000	$2.00	43d	1	0.47mi
3479 20th St Highland, CA	2.0	1.0	882	$1,995	$2.26	43d	1	0.48mi
2223 N Oakridge Ct Highland, CA	3.0	2.5	1600	$4,300	$2.69	43d	1	0.50mi
3317 Highland Ave Highland, CA	3.0	2.0	1250	$2,000	$1.60	24d	1	0.69mi
1991 Central Ave Highland, CA	2.0	3.0	1312	$2,500	$1.91	43d	1	0.82mi
26814 Mansfield St Highland, CA	3.0	1.0	1275	$2,850	$2.24	43d	1	1.04mi
7257 Wakefield Ct Highland, CA	3.0	2.0	1183	$2,395	$2.02	24d	1	1.21mi
7219 Seville Ave Highland, CA	3.0	2.0	1843	$3,000	$1.63	43d	1	1.24mi
7219 Seville Ave Highland, CA	3.0	2.0	1843	$3,000	$1.63	24d	1	1.24mi
27531 Temple St Highland, CA	3.0	2.0	1144	$2,650	$2.32	10d	1	1.25mi

Listing history 15 events

1. 2026-06-18
   days on market $139,000 Active 50 DOM
2. 2026-06-17
   days on market $139,000 Active 49 DOM
3. 2026-06-16
   days on market $139,000 Active 48 DOM
4. 2026-06-15
   days on market $139,000 Active 47 DOM
5. 2026-06-13
   days on market $139,000 Active 45 DOM
6. 2026-06-09
   days on market $139,000 Active 41 DOM
7. 2026-06-08
   days on market $139,000 Active 40 DOM
8. 2026-06-07
   days on market $139,000 Active 39 DOM
9. 2026-06-04
   days on market $139,000 Active 36 DOM
10. 2026-06-03
    days on market $139,000 Active 35 DOM
11. 2026-06-02
    days on market $139,000 Active 34 DOM
12. 2026-06-01
    days on market $139,000 Active 33 DOM
13. 2026-05-31
    days on market $139,000 Active 32 DOM
14. 2026-04-29
    listed $145,000 Active 1094-char remark
15. 2026-04-27
    historical $145,000 1094-char remark

ⓘ 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 8/10 Severe
• 🌡 Heat 8/10 Severe 4 d/yr ≥101°F today · 13 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: $29,774
• − Mortgage interest: −$7,786
• − Property taxes: −$2,085
• − Insurance: −$695
• − Repairs & maintenance: −$2,382
• − Management: −$2,382
• − Depreciation: −$4,044
• Taxable income: $10,401
• Est. tax owed @ 24.0%: −$2,496
• After-tax cash flow: $9,498/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

-4.1% since first listed

3 events — show timeline

• 2026-05-27 Price Changed $139,000 CRMLS
• 2026-04-29 Listed $145,000 CRMLS
• 2026-04-27 Coming Soon $145,000 CRMLS

Property tax history

-17.2%/yr

Latest (2025): $11 · +0.0% YoY. Source: county tax records.