31776 Panorama Rd · Running Springs, CA 92382

$310,000

4 bd · 2.0 ba · 1,880 sqft · SingleFamily public records · 77 Days on market

Built 1962 4,785 sqft lot $165/sqft · 31% below area Est $449k · 31% under

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Why this score? — see what drove the C- 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 +17.2/30.0
• ARV discount +15.0/15.0
• DSCR +5.4/10.0
• 1% rule +4.1/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming two-story, four-bedroom, two-bath mountain home is nestled in beautiful Running Springs — just 25 minutes up Highway 330, sitting at approximately 6,000 ft elevation where you can enjoy true winter snowfalls. The entry-level features two bedrooms, a half bath, a spacious family/living room with a wood-burning fireplace, a convenient wet bar, a laundry room, and a versatile bonus room perfect for a workshop or storage. The upper level offers two additional bedrooms, a full bath, a bright living/family room with another wood-burning fireplace, a dining area, and a cozy kitchen with easy access to front and rear decks—ideal for relaxing or entertaining. A smaller bonus room can serve as a home office or extra storage space. The detached single-car garage includes a covered breezeway, keeping you protected from rain or snow, and the tandem driveway provides ample parking for multiple vehicles.

Key facts

• Wet bar
• Covered breezeway
• Bonus room

Tags

• MOUNTAIN HOME
• WOOD BURNING FIREPLACE
• WET BAR
• BONUS ROOM
• DETACHED SINGLE CAR GARAGE
• COVERED BREEZEWAY

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $310k.

Deal economics

• At list price, monthly cash flow is $221 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $282k (9.0% below list).
• Recommended offer: $282k (9.0% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 3.9% in Running Springs — 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 66/100 on livability (#333 in CA) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A-; Watch: crime C-, schools D+, amenities F.
• Rim Of The World Unified (town): math 13% / reading 34% proficiency, ranked #415 of 517 in CA (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 180 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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 42% of the median local income ($81k/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 $2k of loan paydown is wiped out by about $9k 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 77 days — a 6% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $40k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $130k; list at $310k implies a 138% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $282,040 (9.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1962 — 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 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?
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: 0.91% ✗
• Cap rate: 7.15%
• Cash-on-cash: 3.05%
• DSCR: 1.14
• GRM: 9.2

CMA / ARV

• ARV (median comp): $449,225
• List price: $310,000
• Delta: -30.99%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2616 Secret Dr	0.17mi	4/2.5	1,843 (-2%)	6mo	$380,000	$206	81
31471 Ocean Vw	0.42mi	3/2.0 (-1)	1,894 (+1%)	5mo	$425,000	$224	70
31349 Deer Lick	0.53mi	3/2.0 (-1)	1,886 (+0%)	1mo	$467,500	$248	69
31595 Luring Pines Dr	0.27mi	3/2.0 (-1)	1,753 (-7%)	8mo	$460,000	$262	64
31502 Hilltop Dr	0.39mi	3/2.0 (-1)	1,794 (-5%)	9mo	$403,500	$225	62
2765 Preston Dr	0.26mi	3/3.0 (-1)	1,657 (-12%)	6mo	$445,000	$269	54
2358 Rim Of The World	0.46mi	3/3.0 (-1)	1,677 (-11%)	0mo	$499,000	$298	51
32296 Fern Dr	0.65mi	5/3.0 (+1)	1,808 (-4%)	7mo	$380,000	$210	49
31364 Overhill Dr	0.73mi	3/2.5 (-1)	1,920 (+2%)	8mo	$495,000	$258	48
31521 Silver Spruce Dr	0.36mi	3/2.5 (-1)	2,162 (+15%)	7mo	$435,000	$201	45
2313 Spring Oak	0.74mi	3/2.5 (-1)	1,776 (-6%)	5mo	$490,000	$276	45
31510 Valley Ridge Dr	0.49mi	4/3.0	1,612 (-14%)	6mo	$360,000	$223	44

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: -11.5%
• Equity multiple: 0.58×
• Total profit: $-36,221
• Equity at exit: $46,222

10-year hold

• IRR: -2.3%
• Equity multiple: 0.84×
• Total profit: $-13,610
• Equity at exit: $26,803

Cash invested: $86,800 (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 92382

• Active inventory: 180
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,820 medium
• Mortgage (P&I): −$1,626
• Tax from tax record: −$253 /mo · $3,032/yr
• Insurance: −$129
• HOA: −$0
• Vacancy / Maint / Mgmt: −$592
• Net cashflow: $221

Break-even live

Break-even rent $2,541

Max offer price $310,000

Occupancy floor 87%

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: $77,500
• Closing costs: $9,300
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
31938 Encina Way Running Springs, CA	3.0	2.0	1320	$2,650	$2.01	44d	1	0.32mi
32415 Scandia Dr Running Springs, CA	3.0	3.0	1664	$2,650	$1.59	44d	1	0.82mi
4 Winding Way Running Springs, CA	3.0	2.5	1822	$2,900	$1.59	5d	1	1.11mi

Listing history 23 events

1. 2026-06-18
   days on market $310,000 Active 77 DOM
2. 2026-06-17
   days on market $310,000 Active 76 DOM
3. 2026-06-16
   days on market $310,000 Active 75 DOM
4. 2026-06-15
   days on market $310,000 Active 74 DOM
5. 2026-06-13
   days on market $310,000 Active 72 DOM
6. 2026-06-13
   pricedays on market $310,000 Active 71 DOM
7. 2026-06-09
   days on market $350,000 Active 68 DOM
8. 2026-06-08
   days on market $350,000 Active 67 DOM
9. 2026-06-07
   days on market $350,000 Active 66 DOM
10. 2026-06-04
    days on market $350,000 Active 63 DOM
11. 2026-06-03
    days on market $350,000 Active 62 DOM
12. 2026-06-02
    days on market $350,000 Active 61 DOM
13. 2026-06-01
    days on market $350,000 Active 60 DOM
14. 2026-05-31
    days on market $350,000 Active 59 DOM
15. 2026-05-16
    status Pending Sale 928-char remark

    Show marketing remark (928 chars)

    This charming two-story, four-bedroom, two-bath mountain home is nestled in beautiful Running Springs — just 25 minutes up Highway 330, sitting at approximately 6,000 ft elevation where you can enjoy true winter snowfalls. The entry-level features two bedrooms, a half bath, a spacious family/living room with a wood-burning fireplace, a convenient wet bar, a laundry room, and a versatile bonus room perfect for a workshop or storage. The upper level offers two additional bedrooms, a full bath, a bright living/family room with another wood-burning fireplace, a dining area, and a cozy kitchen with easy access to front and rear decks—ideal for relaxing or entertaining. A smaller bonus room can serve as a home office or extra storage space. The detached single-car garage includes a covered breezeway, keeping you protected from rain or snow, and the tandem driveway provides ample parking for multiple vehicles.

16. 2026-03-20
    listed $350,000 Active 928-char remark

    Show marketing remark (928 chars)

    This charming two-story, four-bedroom, two-bath mountain home is nestled in beautiful Running Springs — just 25 minutes up Highway 330, sitting at approximately 6,000 ft elevation where you can enjoy true winter snowfalls. The entry-level features two bedrooms, a half bath, a spacious family/living room with a wood-burning fireplace, a convenient wet bar, a laundry room, and a versatile bonus room perfect for a workshop or storage. The upper level offers two additional bedrooms, a full bath, a bright living/family room with another wood-burning fireplace, a dining area, and a cozy kitchen with easy access to front and rear decks—ideal for relaxing or entertaining. A smaller bonus room can serve as a home office or extra storage space. The detached single-car garage includes a covered breezeway, keeping you protected from rain or snow, and the tandem driveway provides ample parking for multiple vehicles.

17. 2025-11-08
    status Active
18. 2025-11-02
    listed $350,000 Active
19. 2025-08-26
    price $309,000
20. 2025-07-17
    listed $325,000 Active
21. 2025-07-12
    historical
22. 1992-03-02
    soldstatus $130,000
23. 1987-03-04
    soldstatus $88,000

ⓘ 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: $3,032 · $253/mo
• Projected year-2 tax: $3,032 · $253/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 8/10 Severe
• 🌡 Heat 2/10 Low
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 35 unhealthy d/yr today · 45 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,845
• − Mortgage interest: −$17,365
• − Property taxes: −$3,032
• − Insurance: −$1,550
• − Repairs & maintenance: −$2,708
• − Management: −$2,708
• − Depreciation: −$9,018
• Taxable loss: −$2,535
• Est. tax savings @ 24.0%: +$608
• After-tax cash flow: $3,256/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: Rim Of The World Unified
• NCES district ID: 0632610
• Math proficiency: 13% ▼ -10.00%
• Reading proficiency: 34% ▼ -7.00%
• Median HH income: $55,860
• Composite: 21.29/100
• National rank: #8389
• State rank: #415 of 517 in CA

Livability — Running Springs

• Score: 66/100
• State rank: #333
• US rank: #11396

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Running Springs, CA
• County: San Bernardino County · 2,030,291 people
• City population: 5,215
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 5,215
• Household income: $81,493
• Rent vs Own: 26.0% rent · 74.0% own
• Severe rent burden: 255.0

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 White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 21% Two or more races 17% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 18%
• Common ancestry: Iranian 2% Slovak 2% Scotch-Irish 2%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 90% English-only · Spanish 6% Tagalog/Filipino 3% French/Haitian/Cajun 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: ▼ -263.08%
• Current HPI: 341.4318
• Rent YoY: —
• 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

+297.7% since first listed

9 events — show timeline

• 2026-05-16 Pending — CRMLS
• 2026-03-20 Listed $350,000 CRMLS
• 2025-11-08 Relisted — CRMLS
• 2025-11-02 Listed $350,000 CRMLS
• 2025-08-26 Price Changed $309,000 CRMLS
• 2025-07-17 Listed $325,000 CRMLS
• 2025-07-12 Coming Soon — CRMLS
• 1992-03-02 Sold (Public Records) $130,000 Public Records
• 1987-03-04 Sold (Public Records) $88,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $3,032 · +6.5% YoY. Source: county tax records.