3850 Atlantic #66 · San Bernardino, CA 92346

$69,000

2 bd · 2.0 ba · 1,440 sqft · Manufactured · 77 Days on market

Built 1972 Fair condition $48/sqft · 44% below area Est $122k · 44% under ↓ 10% 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.2/5.0
• Schools +3.1/10.0
• Livability +3.0/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 2-Bedroom Mobile Home in Desirable 55+ Community – Great Fixer Opportunity! Bring your vision and make this large 2-bedroom, 2-bath mobile home your own! This home offers a fantastic opportunity for someone looking to add their personal touch and build equity. Inside you’ll find a generous floor plan with spacious living areas, a large primary bedroom, and a bonus room. With a little TLC and updating, this home has the potential to truly shine. Situated in the beautiful, well-maintained Highland park, Valencia Lea, residents enjoy access to a variety of amenities including a clubhouse, pool, social activities, and beautifully landscaped common areas. The community is known for its friendly atmosphere and convenient location close to shopping, dining, and local services. If you’re looking for an affordable home in a great community and aren’t afraid to put in a little work, this could be the perfect opportunity! Don’t miss the chance to turn this diamond in the rough into something special!

Key facts

• Clubhouse
• Bonus room
• Pool

Tags

• GENEROUS FLOOR PLAN
• BONUS ROOM
• CLUBHOUSE
• POOL
• LANDSCAPED COMMON AREAS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $69k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $69k).
• Recommended offer: $65k (6.0% below list) — sets the bar for market timing.
• Cap rate 32.2% 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: 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 $477 of loan paydown is wiped out by about $2k 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 $19k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($65k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 5→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $64,859 (6.0% 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 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
9. 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.
10. 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: 3.61% ✓
• Cap rate: 32.20%
• Cash-on-cash: 92.53%
• DSCR: 5.12
• GRM: 2.3

CMA / ARV

• ARV (median comp): $122,412
• List price: $69,000
• Delta: -43.63%
• 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
3850 Atlantic Ave #212	0.00mi	2/2.0	1,440 (0%)	1mo	$145,000	$101	100
3850 Atlantic #260	0.00mi	2/2.0	1,440 (0%)	2mo	$85,000	$59	98
3850 Atlantic Ave #276	0.09mi	2/2.0	1,440 (0%)	0mo	$102,500	$71	96
3850 Atlantic Ave #207	0.09mi	2/2.0	1,428 (-1%)	1mo	$208,000	$146	94
3850 Atlantic Ave #287	0.09mi	2/2.0	1,440 (0%)	2mo	$200,000	$139	94
3850 E Atlantic Ave #284	0.09mi	2/2.0	1,440 (0%)	3mo	$159,900	$111	94
3850 Atlantic Ave #274	0.00mi	2/2.0	1,344 (-7%)	5mo	$133,000	$99	85
3850 Atlantic Ave #189	0.09mi	2/2.0	1,344 (-7%)	2mo	$90,000	$67	83
3850 Atlantic Ave #151	0.01mi	2/2.0	1,600 (+11%)	1mo	$90,000	$56	80
4040 Piedmont Dr #283	0.69mi	2/2.0	1,560 (+8%)	1mo	$144,500	$93	53
4040 E Piedmont Dr #300	0.69mi	3/2.0 (+1)	1,536 (+7%)	0mo	$120,000	$78	51
4040 Piedmont Dr #324	0.69mi	3/2.0 (+1)	1,646 (+14%)	2mo	$225,400	$137	37

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: 93.2%
• Equity multiple: 5.32×
• Total profit: $83,516
• Equity at exit: $10,288

10-year hold

• IRR: 96.0%
• Equity multiple: 11.05×
• Total profit: $194,134
• Equity at exit: $5,966

Cash invested: $19,320 (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: 147
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $2,489 high
• Mortgage (P&I): −$362
• Tax est. 1.5%: −$86 /mo · $1,035/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$523
• Net cashflow: $1,490

Break-even live

Break-even rent $604

Max offer price $69,000

Occupancy floor 35%

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: $17,250
• Closing costs: $2,070
• 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	0.39mi
3495 21st St Unit B Highland, CA	2.0	2.0	1000	$2,000	$2.00	43d	1	0.41mi
2223 N Oakridge Ct Highland, CA	3.0	2.5	1600	$4,300	$2.69	43d	1	0.43mi
6787 Cole Ave Highland, CA	2.0–3.0	2.0	1005	$2,125	$2.11	1d	1	0.44mi
3479 20th St Highland, CA	2.0	1.0	882	$1,995	$2.26	43d	1	0.44mi
3317 Highland Ave Highland, CA	3.0	2.0	1250	$2,000	$1.60	24d	1	0.62mi
1991 Central Ave Highland, CA	2.0	3.0	1312	$2,500	$1.91	43d	1	0.78mi
26814 Mansfield St Highland, CA	3.0	1.0	1275	$2,850	$2.24	43d	1	1.01mi
7257 Wakefield Ct Highland, CA	3.0	2.0	1183	$2,395	$2.02	24d	1	1.22mi
27531 Temple St Highland, CA	3.0	2.0	1144	$2,650	$2.32	10d	1	1.31mi
7219 Seville Ave Highland, CA	3.0	2.0	1843	$3,000	$1.63	43d	1	1.33mi
7219 Seville Ave Highland, CA	3.0	2.0	1843	$3,000	$1.63	24d	1	1.33mi

Listing history 2 events

1. 2026-05-04
   price $69,000 1051-char remark

   Show marketing remark (1051 chars)

   Spacious 2-Bedroom Mobile Home in Desirable 55+ Community – Great Fixer Opportunity! Bring your vision and make this large 2-bedroom, 2-bath mobile home your own! This home offers a fantastic opportunity for someone looking to add their personal touch and build equity. Inside you’ll find a generous floor plan with spacious living areas, a large primary bedroom, and a bonus room. With a little TLC and updating, this home has the potential to truly shine. Situated in the beautiful, well-maintained Highland park, Valencia Lea, residents enjoy access to a variety of amenities including a clubhouse, pool, social activities, and beautifully landscaped common areas. The community is known for its friendly atmosphere and convenient location close to shopping, dining, and local services. If you’re looking for an affordable home in a great community and aren’t afraid to put in a little work, this could be the perfect opportunity! Don’t miss the chance to turn this diamond in the rough into something special!

2. 2026-03-10
   listed $77,000 Active 1051-char remark

   Show marketing remark (1051 chars)

   Spacious 2-Bedroom Mobile Home in Desirable 55+ Community – Great Fixer Opportunity! Bring your vision and make this large 2-bedroom, 2-bath mobile home your own! This home offers a fantastic opportunity for someone looking to add their personal touch and build equity. Inside you’ll find a generous floor plan with spacious living areas, a large primary bedroom, and a bonus room. With a little TLC and updating, this home has the potential to truly shine. Situated in the beautiful, well-maintained Highland park, Valencia Lea, residents enjoy access to a variety of amenities including a clubhouse, pool, social activities, and beautifully landscaped common areas. The community is known for its friendly atmosphere and convenient location close to shopping, dining, and local services. If you’re looking for an affordable home in a great community and aren’t afraid to put in a little work, this could be the perfect opportunity! Don’t miss the chance to turn this diamond in the rough into something special!

ⓘ 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 9/10 Extreme
• 🌡 Heat 8/10 Severe 5 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: $29,873
• − Mortgage interest: −$3,865
• − Property taxes: −$1,035
• − Insurance: −$345
• − Repairs & maintenance: −$2,390
• − Management: −$2,390
• − Depreciation: −$2,007
• Taxable income: $17,841
• Est. tax owed @ 24.0%: −$4,282
• After-tax cash flow: $13,596/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 · 12 photos

Fair 45/100 Moderate rehab

This mobile home requires moderate repairs and updates to improve its condition and value. Exterior and interior paint, HVAC replacement, and kitchen/bathroom updates are recommended.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major interior paint — Peeling and worn
• Major HVAC units — Visible rust and wear

Value-add opportunities

• Both exterior paint and siding — Enhances curb appeal and value
• Both HVAC replacement — Improves comfort and energy efficiency
• Both kitchen and bathroom updates — Modernizes spaces and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
interior paint · Peeling and worn	Major	$15,000–50,000
HVAC units · Visible rust and wear	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both exterior paint and siding — Enhances curb appeal and value ↑
• Both HVAC replacement — Improves comfort and energy efficiency ↑
• Both kitchen and bathroom updates — Modernizes spaces and adds 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): 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

-10.4% since first listed

2 events — show timeline

• 2026-05-04 Price Changed $69,000 CRMLS
• 2026-03-10 Listed $77,000 CRMLS