1137 Tropic Ct · Redlands, CA 92374

$589,000

3 bd · 2.5 ba · 1,648 sqft · SingleFamily · 47 Days on market

Built 2026 Excellent condition 3,500 sqft lot $357/sqft · at area comps Est $585k · at est. $145/mo HOA · 3% of rent ↓ 4% since listing

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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 +10.9/30.0
• ARV discount +7.2/15.0
• Condition / age +5.0/5.0
• Schools +4.7/10.0
• Livability +3.8/5.0
• 1% rule +3.5/10.0
• Rent growth +3.4/5.0
• DSCR +3.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Homeowners will love the impressive walk-in closet located just off the primary suite bathroom. Sizeable secondary bedrooms are ideal for kids or home office. The spacious great room flows seamlessly into the dining and kitchen to create an open feel.

Key facts

• Flexible lofts
• Walk-in closet
• Great room

Tags

• WALK-IN CLOSET
• GREAT ROOM
• CHEF-INSPIRED KITCHENS
• FLEXIBLE LOFTS
• ENERGY-EFFICIENT FEATURES

Property features AI

Finance

• Other: Zoned RES; Builder listed as source for year built; No common walls; Single-unit property
• Financial info: Has special assessments
• HOA & community: Part of Live Oak association; Monthly association fee of $145; Association amenities include playground and grounds maintenance; Community features: street lighting, sidewalks, suburban setting, park

Exterior

• Parking: Attached garage with direct garage access; Two garage spaces; Two total parking spaces
• Security: Fire sprinklers; Carbon monoxide detector(s); Smoke detector; Fire-rated drywall
• Utilities: Standard electric service; Public/district water; Public sewer; Sewer available; Telephone in street; Cable available; Electricity connected; Underground utilities; Water connected
• Home design: House; Two stories; Entry on main level; No ADU
• Construction: Tile roof; Spray foam insulation; Drywall walls; Seismic tie-down foundation; Built by Meritage Homes (Residence 2 model)
• Exterior features: Front porch; Has a patio; No pool; Level with street lot; Builder-sourced lot and dimensions; Has a view; Access via city streets; Paved road frontage; Planned development community

Interior

• Kitchen: Kitchen open to family room; Kitchen island; Granite counters; Dining ell; Energy Star appliances; Garbage disposal; Microwave; Self-cleaning oven; Vented exhaust fan; Free-standing range; Electric oven; Water line to refrigerator; Energy Star water heater
• Bedrooms: All bedrooms upstairs; Walk-in closet; Laundry on bedroom level
• Flooring: See remarks
• Bathrooms: Two full bathrooms; One half bathroom; Exhaust fan(s); Privacy toilet door; Low-flow toilet(s); Shower; Humidity-controlled
• Heating & cooling: Central electric cooling; Energy Star-rated cooling
• Interior features: Pantry; Recessed lighting; Open floor plan; Granite counters; Energy Star doors; Energy Star windows; Fire sprinklers; Carbon monoxide detector(s); Fire-rated drywall; Smoke detector; Entry on main level; Two levels; See remarks for flooring
• Laundry & utility: Inside laundry in an individual room

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $589k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-263 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $551k (6.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $500k (15.1% below list).
• Recommended offer: $500k (15.1% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 2.8% in Redlands — 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 75/100 on livability (#118 in CA, #4,193 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: crime C-, health & safety D, cost of living F.
• Redlands Unified (urban): math 44% / reading 57% proficiency, ranked #390 of 1,400 in CA (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Kingsbury Elementary (471 students, 68% FRL); Clement Middle (1,038 students, 75% FRL); Citrus Valley High (2,150 students, 64% FRL) — zoned schools average 69% FRL vs 48% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.7%/yr); 106 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 46d 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).
• At $5,002/mo this rent would consume 58% of the median local household income ($103k/yr) (locally 1176% 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 $4k of loan paydown is wiped out by about $18k 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 47 days — a 3% lower offer ($571k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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.

Recommended offer $500,247 (15.1% 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 47 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
7. 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.
8. 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.
9. 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: 0.85% ✗
• Cap rate: 5.76%
• Cash-on-cash: -1.92%
• DSCR: 0.91
• GRM: 9.8

CMA / ARV

• ARV (median comp): $584,600
• List price: $589,000
• Delta: 0.75%
• 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
2147 Bergamot St	0.05mi	3/2.5	1,648 (0%)	1mo	$564,000	$342	97
1118 Tropic Ct	0.06mi	3/2.5	1,648 (0%)	1mo	$554,000	$336	96
1132 Tropic Ct	0.05mi	3/2.5	1,465 (-11%)	0mo	$549,000	$375	79
1136 Tropic Ct	0.06mi	3/2.5	1,465 (-11%)	0mo	$554,000	$378	79
1116 Tropic Ct	0.06mi	3/2.5	1,465 (-11%)	2mo	$545,000	$372	77
2165 Bergamot St	0.05mi	3/2.5	1,465 (-11%)	5mo	$569,000	$388	75
2185 Bergamot St	0.07mi	3/2.5	1,465 (-11%)	6mo	$569,000	$388	74
2069 Meyer Ln	0.22mi	3/2.5	1,816 (+10%)	4mo	$670,000	$369	70
2063 Tangelo Ln	0.26mi	3/3.0	1,816 (+10%)	2mo	$687,500	$379	67
2040 Tangelo Ln	0.29mi	3/3.0	1,816 (+10%)	2mo	$649,000	$357	66
2040 Meyer Ln	0.26mi	3/3.0	1,816 (+10%)	5mo	$649,000	$357	65
1679 Camellia	0.61mi	4/2.5 (+1)	1,864 (+13%)	2mo	$665,000	$357	43

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 · 3.73% rent growth · sell at horizon

5-year hold

• IRR: -18.6%
• Equity multiple: 0.34×
• Total profit: $-108,359
• Equity at exit: $87,822

10-year hold

• IRR: -9.5%
• Equity multiple: 0.39×
• Total profit: $-99,884
• Equity at exit: $50,926

Cash invested: $164,920 (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 92374

• Rents YoY: 3.7%
• Active inventory: 106
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $5,002 high
• Mortgage (P&I): −$3,089
• Tax est. 1.5%: −$736 /mo · $8,835/yr
• Insurance: −$245
• HOA: −$145
• Vacancy / Maint / Mgmt: −$1,051
• Net cashflow: $-263

Break-even live

Break-even rent $5,336

Max offer price $550,873

Occupancy floor —

Sensitivity live

Price	-10% $144	-5% $-60	+0% $-263	+5% $-467	+10% $-671
Rent	-10% $-659	-5% $-461	+0% $-263	+5% $-66	+10% $132
Rate	-1.0pp $33	-0.5pp $-114	base $-263	+0.5pp $-416	+1.0pp $-571

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: $147,250
• Closing costs: $17,670
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1121 Tropic Ct Redlands, CA	4.0	3.0	2125	$7,575	$3.56	45d	1	0.04mi
27431 San Bernardino Ave Redlands, CA	1.0–2.0	1.0–2.0	902	$2,997	$3.32	1d	15	0.86mi
1538 Webster St Redlands, CA	4.0	2.0	1350	$3,495	$2.59	45d	1	1.08mi
1808 Cave St Redlands, CA	3.0	2.5	1569	$3,200	$2.04	46d	1	1.18mi
1555 Orange St Unit 1007 Redlands, CA	3.0	2.5	1314	$2,850	$2.17	6d	1	1.20mi
120 Doyle Ave Redlands, CA	4.0	1.5	1431	$2,850	$1.99	26d	1	1.22mi
1312 Live Oak Ct Unit 1 Redlands, CA	3.0	2.0	1120	$2,895	$2.58	45d	1	1.29mi
503 W Lugonia Ave Redlands, CA	2.0	2.0	1357	$2,500	$1.84	22d	1	1.33mi

HOA detail

• Monthly dues: $145 · $1,740/yr

Listing history 23 events

1. 2026-06-21
   days on market $589,000 Active 47 DOM
2. 2026-06-18
   days on market $589,000 Active 44 DOM
3. 2026-06-17
   days on market $589,000 Active 43 DOM
4. 2026-06-16
   days on market $589,000 Active 42 DOM
5. 2026-06-15
   days on market $589,000 Active 41 DOM
6. 2026-06-13
   days on market $589,000 Active 39 DOM
7. 2026-06-13
   days on market $589,000 Active 38 DOM
8. 2026-06-10
   price $589,000 Active 35 DOM

   Show marketing remark (251 chars)

   Homeowners will love the impressive walk-in closet located just off the primary suite bathroom. Sizeable secondary bedrooms are ideal for kids or home office. The spacious great room flows seamlessly into the dining and kitchen to create an open feel.

9. 2026-06-09
   days on market $617,400 Active 35 DOM
10. 2026-06-08
    days on market $617,400 Active 34 DOM
11. 2026-06-07
    days on market $617,400 Active 33 DOM
12. 2026-06-04
    days on market $617,400 Active 30 DOM
13. 2026-06-03
    days on market $617,400 Active 29 DOM
14. 2026-06-02
    days on market $617,400 Active 28 DOM
15. 2026-06-01
    days on market $617,400 Active 27 DOM
16. 2026-05-31
    days on market $617,400 Active 26 DOM
17. 2026-05-05
    listed $615,400 Active 863-char remark
18. 2026-04-25
    status Active 251-char remark

    Show marketing remark (251 chars)

    Homeowners will love the impressive walk-in closet located just off the primary suite bathroom. Sizeable secondary bedrooms are ideal for kids or home office. The spacious great room flows seamlessly into the dining and kitchen to create an open feel.

19. 2026-04-25
    historical 251-char remark

    Show marketing remark (251 chars)

    Homeowners will love the impressive walk-in closet located just off the primary suite bathroom. Sizeable secondary bedrooms are ideal for kids or home office. The spacious great room flows seamlessly into the dining and kitchen to create an open feel.

20. 2026-04-22
    price $615,400 251-char remark

    Show marketing remark (251 chars)

    Homeowners will love the impressive walk-in closet located just off the primary suite bathroom. Sizeable secondary bedrooms are ideal for kids or home office. The spacious great room flows seamlessly into the dining and kitchen to create an open feel.

21. 2026-04-22
    status Active 251-char remark

    Show marketing remark (251 chars)

    Homeowners will love the impressive walk-in closet located just off the primary suite bathroom. Sizeable secondary bedrooms are ideal for kids or home office. The spacious great room flows seamlessly into the dining and kitchen to create an open feel.

22. 2025-10-24
    historical 251-char remark

    Show marketing remark (251 chars)

    Homeowners will love the impressive walk-in closet located just off the primary suite bathroom. Sizeable secondary bedrooms are ideal for kids or home office. The spacious great room flows seamlessly into the dining and kitchen to create an open feel.

23. 2025-10-22
    listed $613,400 Active 251-char remark

    Show marketing remark (251 chars)

    Homeowners will love the impressive walk-in closet located just off the primary suite bathroom. Sizeable secondary bedrooms are ideal for kids or home office. The spacious great room flows seamlessly into the dining and kitchen to create an open feel.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $60,030
• − Mortgage interest: −$32,993
• − Property taxes: −$8,835
• − Insurance: −$2,945
• − Repairs & maintenance: −$4,802
• − Management: −$4,802
• − HOA: −$1,740
• − Depreciation: −$17,135
• Taxable loss: −$13,223
• Est. tax savings @ 24.0%: +$3,173
• After-tax cash flow: $12/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 · 1 photo

Excellent 100/100 None rehab

This brand new, energy-efficient home is in excellent condition with no visible repairs or maintenance needed. It is move-in ready and ideal for both resale and rental.

Schools (NCES district)

• District: Redlands Unified
• NCES district ID: 0632070
• Math proficiency: 44% ▼ -1.00%
• Reading proficiency: 57% ▼ -2.00%
• Median HH income: $67,959
• Composite: 46.88/100
• National rank: #5185
• State rank: #390 of 1400 in CA

Livability — Redlands

• Score: 75/100
• State rank: #118
• US rank: #4193

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Redlands, CA
• County: San Bernardino County · 2,030,291 people
• City population: 80,519
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 45,262
• Household income: $102,813
• Rent vs Own: 42.3% rent · 57.7% own
• Severe rent burden: 1176.0

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 0.67)
• Race & ethnicity: Hispanic / Latino 43% White 37% Two or more races 19% Asian 8% Black 6% Pacific Islander 1%
• Hispanic origin (detail): Mexican 37%
• Common ancestry: Italian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 18% · Canada, China, Vietnam
• Languages at home: 67% English-only · Spanish 24% Other Indo-European 2% Other Asian/Pacific 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: ▼ -425.72%
• Current HPI: 367.6123
• Rent YoY: ▲ 3.73%
• 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

-4.0% since first listed

13 events — show timeline

• 2026-06-11 Price Changed $589,000 Zillow
• 2026-06-10 Price Changed $617,400 Zillow
• 2026-06-10 Price Changed $589,000 Zillow
• 2026-06-09 Price Changed $589,000 CRMLS
• 2026-05-23 Price Changed $617,400 Zillow
• 2026-05-19 Price Changed $617,400 CRMLS
• 2026-05-05 Listed $615,400 CRMLS
• 2026-04-25 Relisted — Zillow
• 2026-04-25 Delisted — Zillow
• 2026-04-22 Price Changed $615,400 Zillow
• 2026-04-22 Relisted — Zillow
• 2025-10-24 Delisted — Zillow
• 2025-10-22 Listed $613,400 Zillow