3408 20th St · San Bernardino, CA 92346

$194,000

2 bd · 1.0 ba · 882 sqft · Condo public records · 7 Days on market

Built 1969 $450/mo HOA · 22% 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).

• Cash flow +12.8/30.0
• ARV discount +7.5/15.0
• 1% rule +5.5/10.0
• DSCR +3.8/10.0
• 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 MLS

2 bedroom 1 bath condo in Highland Palms. One car parking in shared garage. Master bedroom offers a walk in closet and a makeup table. Central Heat and AC PLEASE NOTE NOT FHA APPROVED

Key facts

• Central heat
• Ceiling fan
• New kitchen cabinets

Tags

• DUAL PANE WINDOWS
• NEWER HVAC SYSTEM
• CENTRAL HEAT
• CEILING FAN
• NEW KITCHEN CABINETS
• LARGE WALK IN CLOSET

Property features AI

Finance

• Other: Access via city streets; maintained, paved roads with paved alley; Directions: Highland Blvd, right on Orange, left on 20th
• HOA & community: Part of an association (Sun Rise Manangement); Monthly association fee of $450; Association provides hot water; Community includes 264 units; Community feature: Foothills

Exterior

• Parking: Assigned parking; Off-street parking; Driveway-level access; Rear-entry garage; 1 garage space plus 1 uncovered space (2 total parking spaces)
• Security: Carbon monoxide detector(s); Smoke detector
• Utilities: 220V in kitchen; Natural gas available; Electricity connected; Sewer connected (specific type unknown); Public/district water; Telephone service: none listed
• Home design: Condominium; House structure type; South-facing; Two stories; Entry level: 1; No common walls
• Construction: Tile roof; Stucco construction; Year built per builder; Foundation: not certified
• Exterior features: Rain gutters; Patio; Corner lot; 0-1 Unit/Acre; Has a view

Interior

• Kitchen: Remodeled kitchen; Self-closing cabinet doors; Laminate counters; Range/Stove Hood; Electric range and electric oven/stove; Eating area in living room and formal dining room
• Bedrooms: All bedrooms located upstairs
• Flooring: Tile; Carpet; Laminate
• Bathrooms: One full bathroom with bathtub and shower-in-tub; Exhaust fan
• Heating & cooling: Central cooling; Forced air / central furnace heating
• Interior features: Turnkey, updated/remodeled condition; Ceiling fan; Laminate counters; Remodeled bathroom; Carbon monoxide and smoke detectors; Two levels; Front entry
• Laundry & utility: No laundry hook-ups on file

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $194k.

Deal economics

• At list price, monthly cash flow is $-19 ($-227/yr) — negative.
• To cash-flow at today's rent, offer at most $191k (1.7% below list).
• Meets the 1% rule at list price ($2k rent vs $194k).
• Recommended offer: $191k (1.7% below list) — sets the bar for cash-flow.
• Cap rate 6.2% 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: employment D, crime F, cost of living 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.
• Zoned schools: Oehl Elementary (479 students, 87% FRL); Serrano Middle (683 students, 90% FRL); San Gorgonio High (1,542 students, 88% FRL).
• Market conditions: Rents rising (+2.9%/yr); 150 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $6k 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

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 13y 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 $54k; list at $194k implies a 259% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $190,652 (1.7% 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. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.05% ✓
• Cap rate: 6.18%
• Cash-on-cash: -0.42%
• DSCR: 0.98
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.91% rent growth · sell at horizon

5-year hold

• IRR: -17.0%
• Equity multiple: 0.40×
• Total profit: $-32,618
• Equity at exit: $28,926

10-year hold

• IRR: -8.8%
• Equity multiple: 0.45×
• Total profit: $-29,861
• Equity at exit: $16,774

Cash invested: $54,320 (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: 150
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,042 high
• Mortgage (P&I): −$1,017
• Tax from tax record: −$84 /mo · $1,010/yr
• Insurance: −$81
• HOA: −$450
• Vacancy / Maint / Mgmt: −$429
• Net cashflow: $-19

Break-even live

Break-even rent $2,066

Max offer price $190,652

Occupancy floor 96%

Sensitivity live

Price	-10% $91	-5% $36	+0% $-19	+5% $-74	+10% $-129
Rent	-10% $-180	-5% $-100	+0% $-19	+5% $62	+10% $142
Rate	-1.0pp $79	-0.5pp $30	base $-19	+0.5pp $-69	+1.0pp $-120

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: $48,500
• Closing costs: $5,820
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3404 20th St #1 Highland, CA	2.0	1.0	780	$2,195	$2.81	5d	1	0.02mi
3479 20th St Highland, CA	2.0	1.0	882	$1,995	$2.26	1d	1	0.10mi
3479 20th St Highland, CA	2.0	1.0	882	$1,995	$2.26	46d	1	0.10mi
3495 21st St Unit B Highland, CA	2.0	2.0	1000	$2,000	$2.00	46d	1	0.11mi
3532 Rainbow Ln Highland, CA	2.0	1.0	882	$2,100	$2.38	1d	1	0.17mi
3511 Rainbow Ln Highland, CA	2.0	1.0	780	$2,050	$2.63	5d	1	0.17mi
6787 Cole Ave Highland, CA	2.0–3.0	2.0	1005	$2,125	$2.11	0d	1	0.27mi
27205 Main St Highland, CA	1.0	1.0	700	$1,575	$2.25	46d	1	0.47mi
6601 Victoria Ave Highland, CA	2.0	2.0	775	$1,827	$2.36	46d	1	0.54mi
6601 Victoria Ave Highland, CA	2.0	2.0	775	$1,677	$2.16	22d	1	0.54mi
6601 Victoria Ave Highland, CA	2.0	2.0	775	$1,677	$2.16	26d	1	0.54mi
2265 Bradford Ave Apt 524 Highland, CA	2.0	2.0	810	$1,800	$2.22	26d	1	0.58mi
7000 La Praix St Highland, CA	2.0	1.0	865	$2,200	$2.54	0d	1	0.84mi
7221 Olive St Highland, CA	2.0	1.0	866	$2,150	$2.48	46d	1	0.91mi
7410 San Francisco St Highland, CA	2.0	2.0	864	$2,400	$2.78	22d	1	1.24mi
7410 San Francisco St Highland, CA	2.0	2.0	864	$2,500	$2.89	26d	1	1.24mi
2225 Pumalo St San Bernardino, CA	1.0–2.0	1.0–2.0	750	$2,035	$2.71	46d	1	1.37mi
26660 9th St Highland, CA	1.0–2.0	1.0–2.0	755	$2,050	$2.72	0d	5	1.39mi

HOA detail condo

• Monthly dues: $450 · $5,400/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 44 events

1. 2026-06-22
   days on market $194,000 Active 7 DOM
2. 2026-06-21
   days on market $194,000 Active 6 DOM
3. 2026-06-18
   days on market $194,000 Active 3 DOM
4. 2026-06-17
   days on market $194,000 Active 2 DOM
5. 2026-06-15
   remarks 699-char remark
6. 2026-06-15
   pricedays on marketlisting id $194,000 Active 1 DOM
7. 2026-06-15
   days on market $199,999 Active 34 DOM
8. 2026-06-13
   days on market $199,999 Active 32 DOM
9. 2026-06-09
   days on market $199,999 Active 28 DOM
10. 2026-06-08
    days on market $199,999 Active 27 DOM
11. 2026-06-07
    days on market $199,999 Active 26 DOM
12. 2026-06-04
    days on market $199,999 Active 23 DOM
13. 2026-06-03
    days on market $199,999 Active 22 DOM
14. 2026-06-02
    days on market $199,999 Active 21 DOM
15. 2026-06-01
    days on market $199,999 Active 20 DOM
16. 2026-05-31
    days on market $199,999 Active 19 DOM
17. 2026-05-12
    listed $199,999 Active 184-char remark

    Show marketing remark (184 chars)

    2 bedroom 1 bath condo in Highland Palms. One car parking in shared garage. Master bedroom offers a walk in closet and a makeup table. Central Heat and AC PLEASE NOTE NOT FHA APPROVED

18. 2025-07-08
    historical $1,900
19. 2025-06-28
    historical
20. 2025-06-14
    status Active
21. 2025-06-14
    price $195,000
22. 2025-06-13
    status Pending Sale
23. 2025-06-10
    price $189,000
24. 2025-05-30
    status Active
25. 2025-05-24
    historical Active Under Contract
26. 2025-05-19
    price $195,000
27. 2025-05-08
    status Active
28. 2025-05-08
    price $209,000
29. 2025-04-16
    historical Active Under Contract
30. 2025-03-22
    listed $205,000 Active
31. 2024-08-08
    listed $1,900
32. 2014-04-02
    soldstatus $54,000 Closed
33. 2014-04-02
    soldstatus $54,000
34. 2014-03-20
    status Pending
35. 2014-03-12
    price $56,500
36. 2014-03-06
    price $59,900
37. 2014-03-06
    price $60,000
38. 2014-03-05
    price $62,000
39. 2014-02-26
    listed $69,900 Active
40. 2014-01-24
    soldstatus $43,500 Closed
41. 2014-01-24
    soldstatus $43,500
42. 2014-01-11
    status Pending
43. 2013-12-19
    listed $45,500 Active
44. 1979-08-31
    soldstatus $38,500

ⓘ 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: $1,010 · $84/mo
• Projected year-2 tax: $1,474 · $123/mo
• Expected delta: +$465/yr (+$39/mo · 46.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 8/10 Severe 6 d/yr ≥101°F today · 17 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: $24,507
• − Mortgage interest: −$10,867
• − Property taxes: −$1,010
• − Insurance: −$970
• − Repairs & maintenance: −$1,961
• − Management: −$1,961
• − HOA: −$5,400
• − Depreciation: −$5,644
• Taxable loss: −$3,304
• Est. tax savings @ 24.0%: +$793
• After-tax cash flow: $566/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

+403.9% since first listed

29 events — show timeline

• 2026-06-15 Listed $194,000 CRMLS
• 2026-05-12 Listed $199,999 FSBO.com
• 2025-07-08 Rental Removed $1,900 REDFIN
• 2025-06-28 Listing Removed — CRMLS
• 2025-06-14 Relisted — CRMLS
• 2025-06-14 Price Changed $195,000 CRMLS
• 2025-06-13 Pending — CRMLS
• 2025-06-10 Price Changed $189,000 CRMLS
• 2025-05-30 Relisted — CRMLS
• 2025-05-24 Contingent — CRMLS
• 2025-05-19 Price Changed $195,000 CRMLS
• 2025-05-08 Relisted — CRMLS
• 2025-05-08 Price Changed $209,000 CRMLS
• 2025-04-16 Contingent — CRMLS
• 2025-03-22 Listed $205,000 CRMLS
• 2024-08-08 Listed for Rent $1,900 REDFIN
• 2014-04-02 Sold (Public Records) $54,000 Public Records
• 2014-04-02 Sold (MLS) $54,000 CRMLS
• 2014-03-20 Pending — CRMLS
• 2014-03-12 Price Changed $56,500 CRMLS
• 2014-03-06 Price Changed $59,900 CRMLS
• 2014-03-06 Price Changed $60,000 CRMLS
• 2014-03-05 Price Changed $62,000 CRMLS
• 2014-02-26 Listed $69,900 CRMLS
• 2014-01-24 Sold (Public Records) $43,500 Public Records
• 2014-01-24 Sold (MLS) $43,500 CRMLS
• 2014-01-11 Pending — CRMLS
• 2013-12-19 Listed $45,500 CRMLS
• 1979-08-31 Sold (Public Records) $38,500 Public Records

Property tax history

+1.5%/yr

Latest (2025): $1,010 · -64.4% YoY. Source: county tax records.