1414 Citrus · San Bernardino, CA 92404

$6,480,000

72 bd · 3.5 ba · 30,780 sqft · MultiFamily public records · 54 Days on market

Built 1963 1.11 ac lot

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Why this score? — see what drove the F 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 +7.5/15.0
• Schools +3.1/10.0
• Livability +3.0/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Cash flow +0.0/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Stable, low maintenance, gated with high occupancy. Carports, laundry room. Located on a quiet street close to freeway and all daily amenities. Solid cash flow in a San Bernardino infill location. Priced to sell quick with an aggressive Cap Rate. All new windows, over 70% new roof and 95% upgraded all 2 beds one bath units with granite countertops, new cabinetry, and attractive vinyl flooring.

Key facts

• Quiet street
• Laundry room
• New cabinetry

Tags

• LAUNDRY ROOM
• QUIET STREET
• NEW WINDOWS
• NEW ROOF
• GRANITE COUNTERTOPS
• NEW CABINETRY

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1-bath units multifamily listed at $6.48M.

Deal economics

• At list price, monthly cash flow is $-36k ($-429k/yr) — negative. Per door: $-9k/mo.
• To cash-flow at today's rent, offer at most $796k (87.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $696k (89.3% below list).
• Recommended offer: $696k (89.3% below list) — sets the bar for 1% rule.
• Cap rate -0.3% vs local median 3.5% in San Bernardino — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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; 102 active listings in the ZIP; 5,458 units permitted in San Bernardino County in 2024 (1,500 in 5+ unit buildings).
• At $6,965/mo this rent would consume 125% of the median local household income ($67k/yr) (locally 3423% 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 $45k of loan paydown is wiped out by about $194k 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 54 days — a 3% lower offer ($6.29M) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 8y 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 $4.00M; list at $6.48M implies a 62% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $696,500 (89.3% 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 54 days. Have you received any prior offers? Is the seller open to a 89% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.11% ✗
• Cap rate: -0.32%
• Cash-on-cash: -23.62%
• DSCR: -0.05
• GRM: 77.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -69.0%
• Equity multiple: -0.84×
• Total profit: $-3,340,763
• Equity at exit: $966,189

10-year hold

• IRR: —
• Equity multiple: -2.25×
• Total profit: $-5,901,349
• Equity at exit: $560,272

Cash invested: $1,814,400 (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: 102
• Price-to-rent: 310.1×

Monthly cashflow live

• Estimated rent: $6,965 medium
• Mortgage (P&I): −$33,982
• Tax from tax record: −$4,536 /mo · $54,437/yr
• Insurance: −$2,700
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,463
• Net cashflow: $-35,716

Break-even live

Break-even rent $52,175

Max offer price $796,199

Occupancy floor —

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$6,964
Total (4 units)			$6,965

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: $1,620,000
• Closing costs: $194,400
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-18
   days on market $6,480,000 Active 54 DOM
2. 2026-06-17
   days on market $6,480,000 Active 53 DOM
3. 2026-06-16
   days on market $6,480,000 Active 52 DOM
4. 2026-06-15
   days on market $6,480,000 Active 51 DOM
5. 2026-06-13
   days on market $6,480,000 Active 49 DOM
6. 2026-06-09
   days on market $6,480,000 Active 45 DOM
7. 2026-06-08
   days on market $6,480,000 Active 44 DOM
8. 2026-06-07
   days on market $6,480,000 Active 43 DOM
9. 2026-06-04
   days on market $6,480,000 Active 40 DOM
10. 2026-06-03
    days on market $6,480,000 Active 39 DOM
11. 2026-06-02
    days on market $6,480,000 Active 38 DOM
12. 2026-06-01
    days on market $6,480,000 Active 37 DOM
13. 2026-05-31
    days on market $6,480,000 Active 36 DOM
14. 2026-04-25
    listed $6,480,000 Active 396-char remark

    Show marketing remark (396 chars)

    Stable, low maintenance, gated with high occupancy. Carports, laundry room. Located on a quiet street close to freeway and all daily amenities. Solid cash flow in a San Bernardino infill location. Priced to sell quick with an aggressive Cap Rate. All new windows, over 70% new roof and 95% upgraded all 2 beds one bath units with granite countertops, new cabinetry, and attractive vinyl flooring.

15. 2024-08-16
    historical
16. 2024-05-07
    listed $6,995,000 Active
17. 2020-01-22
    soldstatus $3,995,000 Closed Sale
18. 2020-01-22
    status Pending Sale
19. 2019-05-14
    listed $3,995,000 Active
20. 2018-06-28
    soldstatus $3,300,000 Closed Sale
21. 2018-06-28
    soldstatus $3,300,000
22. 2018-06-27
    soldstatus $3,200,000
23. 2018-05-15
    status Pending Sale
24. 2018-03-14
    price $3,425,000
25. 2018-02-01
    listed $3,500,000 Active
26. 2018-02-01
    listed $3,425,000
27. 2017-04-13
    soldstatus $2,700,000
28. 2015-06-08
    soldstatus $1,896,000

ⓘ 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: $54,437 · $4,536/mo
• Projected year-2 tax: $54,437 · $4,536/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 6/10 Major FEMA zone X · 67% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 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 25 unhealthy d/yr today · 31 by 30 yrs out

Taxation est. · year 1

• Rental income: $83,580
• − Mortgage interest: −$362,981
• − Property taxes: −$54,437
• − Insurance: −$32,400
• − Repairs & maintenance: −$6,686
• − Management: −$6,686
• − Depreciation: −$188,509
• Taxable loss: −$568,119
• Est. tax savings @ 24.0%: +$136,349
• After-tax cash flow: $-292,242/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): 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

+241.8% since first listed

15 events — show timeline

• 2026-04-25 Listed $6,480,000 CRMLS
• 2024-08-16 Listing Removed — CRMLS
• 2024-05-07 Listed $6,995,000 CRMLS
• 2020-01-22 Sold (MLS) $3,995,000 CRMLS
• 2020-01-22 Pending — CRMLS
• 2019-05-14 Listed $3,995,000 CRMLS
• 2018-06-28 Sold (MLS) $3,300,000 SDMLS
• 2018-06-28 Sold (MLS) $3,300,000 CRMLS
• 2018-06-27 Sold (Public Records) $3,200,000 Public Records
• 2018-05-15 Pending — CRMLS
• 2018-03-14 Price Changed $3,425,000 CRMLS
• 2018-02-01 Listed $3,425,000 SDMLS
• 2018-02-01 Listed $3,500,000 CRMLS
• 2017-04-13 Sold (Public Records) $2,700,000 Public Records
• 2015-06-08 Sold (Public Records) $1,896,000 Public Records

Property tax history

+9.4%/yr

Latest (2025): $54,437 · +2.1% YoY. Source: county tax records.