39207 Waterview Dr
Big Bear Lake, CA 92315
$675,000
4 bd · 3 ba · 2,042 sqft · Listed 1d ago
View on Realtor.com →Year built
1978
Sqft
2,042
Lot sqft
9,975
HOA / mo
$0
Furnished
No
List date
2026-11-01T00:34:30.000000Z
Revenue
Annual revenue
$57,362
ADR
$482
Occupancy
33%
Cleaning fees (12 mo)
$8,750
Confidence
Low (24.37), 49 comps
Comp revenue range (p25 / median / p75)
Median revenue of shown comps: $49,517
Family Fun Cozy Cabin Game Room Foosball Near Lake
Cabin · 4 bd · 2 ba · sleeps 12 · 128 ft
Revenue $28,706ADR $726Occ ≈ 11%3.5★ (2)
Delisted
Beautiful rustic abode with private hot tub, BBQ, yard, pool table and more!
House · 4 bd · 3 ba · sleeps 10 · 302 ft
Revenue $8,279ADR $517Occ ≈ 4%5★ (1)
Delisted
Beautiful rustic abode with private hot tub, BBQ, yard, pool table and more!
House · 4 bd · 3 ba · sleeps 10 · 302 ft
Revenue $16,268ADR $411Occ ≈ 11%3★ (1)
Delisted
Pool Table! Lake views! Flat Fenced Yard+Foosball!
Cabin · 4 bd · 2.5 ba · sleeps 12 · 0.1 mi
Revenue $98,644ADR $908Occ ≈ 30%3.6★ (3)
Lakefront Raccoon's Nest - On the Lake
Vacation home · 4 bd · 2 ba · sleeps 11 · 0.2 mi
Revenue $52,096ADR $599Occ ≈ 24%5★ (1)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Family Fun Cozy Cabin Game Room Foosball Near Lake Cabin | 4 bd · 2 ba · sleeps 12 | $28,706 | $726 | 11% | 3.5★ (2) | 128 ft | Delisted |
Crystal Pines #2605 Cabin
| 4 bd · 2 ba · sleeps 12 | $30,357 | $563 | 15% | — | 128 ft | AirbnbVrboBooking |
Beautiful rustic abode with private hot tub, BBQ, yard, pool table and more! House | 4 bd · 3 ba · sleeps 10 | $8,279 | $517 | 4% | 5★ (1) | 302 ft | Delisted |
Beautiful rustic abode with private hot tub, BBQ, yard, pool table and more! House | 4 bd · 3 ba · sleeps 10 | $16,268 | $411 | 11% | 3★ (1) | 302 ft | Delisted |
Rustic abode with spa BBQ yard and pool table House | 4 bd · 3 ba · sleeps 10 | $59,676 | $559 | 29% | 4.4★ (20) | 394 ft | AirbnbBooking |
Rustic Ridge | Gated, Jacuzzi, Pool Table, Village Cabin
| 4 bd · 2.5 ba · sleeps 10 | $26,523 | $389 | 19% | 4.8★ (12) | 407 ft | AirbnbVrboBooking |
Pool Table! Lake views! Flat Fenced Yard+Foosball! Cabin | 4 bd · 2.5 ba · sleeps 12 | $98,644 | $908 | 30% | 3.6★ (3) | 0.1 mi | Airbnb |
The Black Cormorant | On the Lake House
| 4 bd · 3 ba · sleeps 12 | $119,774 | $1,133 | 29% | 5★ (21) | 0.1 mi | AirbnbVrbo |
LAKEfront HOT TUB Views! BEST lake location LRN Cabin
| 4 bd · 2.5 ba · sleeps 11 | $82,585 | $640 | 35% | 4.3★ (129) | 0.2 mi | AirbnbVrboBooking |
Lakefront Raccoon's Nest - On the Lake Vacation home | 4 bd · 2 ba · sleeps 11 | $52,096 | $599 | 24% | 5★ (1) | 0.2 mi | Booking |
Show 21 more
Lakeview Haven- Luxury Retreat
Vacation home · 4 bd · 2 ba · sleeps 12 · 0.3 mi
Revenue $46,677ADR $566Occ ≈ 23%5★ (1)
Willow Retro Fun - Spa, Games, Photo Booth, AC
House · 4 bd · 2 ba · sleeps 9 · 0.4 mi
Revenue $24,121ADR $346Occ ≈ 19%4.8★ (9)
Delisted
NEW! Boulder Bay Cabin Retreat
Cabin · 4 bd · 2 ba · sleeps 9 · 0.4 mi
Revenue $2,834ADR $354Occ ≈ 2%4.4★ (22)
Unwind in a Serene Mountain Lodge with Lake Views!
Cabin · 4 bd · 3 ba · sleeps 9 · 0.4 mi
- Hot tub
- Free parking
- Wifi
- Kitchen
- +3
Revenue $40,470ADR $399Occ ≈ 28%4.8★ (210)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Waterview Lodge. New Addition. Spa. Lake views. House
| 4 bd · 2.5 ba · sleeps 12 | $40,063 | $670 | 16% | 4.8★ (28) | 0.2 mi | AirbnbVrbo |
Gorgeous Lake Views. Hot Tub, Dog Enclosed Yard. Cabin
| 4 bd · 4 ba · sleeps 12 | $101,452 | $891 | 31% | 4.8★ (172) | 0.2 mi | AirbnbVrbo |
4BR Lakefront Vibes Getaway | Dock, Spa & Games Cabin
| 4 bd · 3 ba · sleeps 13 | $151,600 | $769 | 54% | 5★ (31) | 0.2 mi | AirbnbVrbo |
Pet Friendly! Hot Tub! Outdoor Oasis! Firepit! House
| 4 bd · 3 ba · sleeps 10 | $74,723 | $684 | 30% | 5★ (43) | 0.3 mi | AirbnbVrbo |
Lakeview Haven- Luxury Retreat Vacation home | 4 bd · 2 ba · sleeps 12 | $46,677 | $566 | 23% | 5★ (1) | 0.3 mi | Booking |
Lakeview Haven- Game Room + Spa Walk to the Marina Cabin
| 4 bd · 2 ba · sleeps 12 | $49,517 | $990 | 14% | 4★ (5) | 0.3 mi | AirbnbVrbo |
✦Modern Lakeview Cabin @Big Bear | Hot Tub | BBQ ✦ Cabin
| 4 bd · 3.5 ba · sleeps 10 | $126,602 | $599 | 58% | 4.8★ (201) | 0.3 mi | AirbnbVrbo |
5-Star Lakefront Cabin FIRE PIT Game Room! LE Cabin
| 4 bd · 3 ba · sleeps 13 | $115,201 | $929 | 34% | 5★ (39) | 0.3 mi | AirbnbVrboBooking |
Lake View, Game Room, Hot Tub Cabin | 4 bd · 3 ba · sleeps 13 | $79,816 | $706 | 31% | 4.7★ (17) | 0.4 mi | AirbnbBooking |
Steps to Lake • Pool Table | Lakeside in Bearadise Cabin
| 4 bd · 2 ba · sleeps 9 | $28,506 | $458 | 17% | 4.5★ (30) | 0.4 mi | AirbnbVrboBooking |
Willow Retro Fun - Spa, Games, Photo Booth, AC House | 4 bd · 2 ba · sleeps 9 | $24,121 | $346 | 19% | 4.8★ (9) | 0.4 mi | Delisted |
Lakeview Cabin w/Walk to Lake + Slopes + Dog House
| 4 bd · 4 ba · sleeps 13 | $4,500 | $642 | 2% | 5★ (1) | 0.4 mi | AirbnbVrbo |
Scandinavian chalet close to ski, lake & village Cabin
| 4 bd · 4 ba · sleeps 10 | $34,792 | $732 | 13% | 4.7★ (27) | 0.4 mi | AirbnbVrbo |
Lakefront -Game Room, Boat Dock, Fire Pit, Hot Tub House
| 4 bd · 4 ba · sleeps 10 | $51,863 | $1,012 | 14% | 5★ (4) | 0.4 mi | AirbnbVrbo |
NEW! Boulder Bay Cabin Retreat Cabin | 4 bd · 2 ba · sleeps 9 | $2,834 | $354 | 2% | 4.4★ (22) | 0.4 mi | Airbnb |
Bay Views-7mins walk to lake-SPA & BBQ-Home Cinema House
| 4 bd · 3 ba · sleeps 9 | $58,764 | $630 | 26% | 5★ (191) | 0.4 mi | AirbnbVrbo |
Designer Cabin - 3 min walk to Lake & Private Dock House
| 4 bd · 3 ba · sleeps 10 | $39,262 | $547 | 20% | 5★ (15) | 0.4 mi | AirbnbVrbo |
Willow Playhouse | Spa, Games, Photo Booth, AC House
| 4 bd · 2 ba · sleeps 9 | $6,818 | $279 | 7% | 5★ (3) | 0.4 mi | AirbnbVrbo |
Boulder Landing|EV Charger, Private Dock, Hot Tub! House
| 4 bd · 3 ba · sleeps 11 | $52,324 | $558 | 26% | 5★ (19) | 0.4 mi | AirbnbVrbo |
Unwind in a Serene Mountain Lodge with Lake Views! Cabin
| 4 bd · 3 ba · sleeps 9 | $40,470 | $399 | 28% | 4.8★ (210) | 0.4 mi | Airbnb |
Near the Lake!Breathtaking Views! Hot Tub! House
| 4 bd · 3 ba · sleeps 11 | $124,254 | $842 | 40% | 4.9★ (46) | 0.4 mi | AirbnbVrbo |
Revenue and nightly rate (ADR) are trailing-12-month figures per listing. Occupancy is estimated as revenue ÷ ADR ÷ 365 and can read high when revenue includes cleaning fees.
Cash flow calculator
Rate 7.99% = 7.24% Freddie Mac 30-yr avg (Oct 29) + 0.75% investor premium
Est. revenue
$57,362
NOI
$26,233
Cash flow /mo
-$1,525
Cash needed
$224,750
Cash-on-cash
-8.1%
ROE (yr 1)
2.8%
Cap rate
3.9%
DSCR
0.59
Year-1 write-off
$148,666
Year-1 tax shield @ 32%
$47,573
Year-1 return on equity
- Cash flow (annual)-$18,301
- Principal paydown$4,237
- Appreciation at%$20,250
Tax savings aren't counted. Turn on “Count tax savings in returns” above if you can use the losses.
Opex, cash-needed & tax-savings breakdown
Annual operating expenses
- Management (20% of revenue)$11,472
- Platform fees (3% of revenue)$1,721
- Maintenance / capex (5% of revenue)$2,868
- Utilities & supplies$4,200
- HOA$0
- Property tax$8,438
- Insurance (STR-rated)$3,443
Cash needed to close
- Down payment (25%)$168,750
- Closing costs (4.0%)$27,000
- Furnishing (bought new)$29,000
Tax savings if the STR loophole applies
- Tax shield @ 32%$47,573
Property tax, insurance rate and the land/building split come from this listing's county tax record; other assumptions match the daily feed (see tasks/plan.md).
The write-off comes from the cost segregation estimate below. Not tax advice.
Cost segregation estimate
An estimate from the listing: every part of the home is priced from national construction costs, less wear for age, and the price (less land) is spread over the parts in proportion. The headline is what a typical cost seg study would claim for this property. The answers below are optional refinements.
Depreciable basis
$506,000
Short-life (5/15-yr)
$119,000 · 24%
Year-1 deduction
$149,000
Year-1 tax shield @ 32%
$48,000
Land 25% (county tax record, assessed value split) · building $387,000 over 39 years · new furniture $29,000
Based on: 2,042 sq ft, built 1978, 4 bd / 3 ba, unfurnished, listing features (patio, fence, game room, fireplace, stone counters, flooring types, appliance list).
Try the cost segregation calculator on any property →
IRS-guide safe-harbor floor: $112,000 in year 1 (16% short-life, $36,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $13,000
Kitchen cabinetsdefault
$10,300 new × 40% good × 3.16 allocation
- $13,300
Kitchen countertops (stone)listing
$10,500 new × 40% good × 3.16 allocation
- $4,500
Decorative trimdefault
$3,600 new × 40% good × 3.16 allocation
- $600
Mirrorsdefault
$500 new × 40% good × 3.16 allocation
- $1,900
Shelvingdefault
$1,500 new × 40% good × 3.16 allocation
- $6,300
Window coverings (20)default
$5,000 new × 40% good × 3.16 allocation
- $10,100
Kitchen & laundry equipment plumbingdefault
$8,000 new × 40% good × 3.16 allocation
- $6,100
Kitchen, laundry & data equipment electricaldefault
$4,800 new × 40% good × 3.16 allocation
- $7,200
Appliances (range, microwave, dishwasher, refrigerator)listing
$5,700 new × 40% good × 3.16 allocation
- $23,000
Furniture bought newlisting
$23,000 new × 100% good · bought separately
- $6,000
Game-room equipment bought newlisting
$6,000 new × 100% good · bought separately
- $14,800
Paving: driveway & walks (paved)listing
$9,400 new × 50% good × 3.16 allocation
- $14,200
Landscaping (typical)default
$9,000 new × 50% good × 3.16 allocation
- $14,500
Patioslisting
$9,200 new × 50% good × 3.16 allocation
- $3,200
Decks & porches (attached)default
$2,000 new × 50% good × 3.16 allocation
- $9,500
Fencinglisting
$6,000 new × 50% good × 3.16 allocation
- $279,600
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$221,200 new × 40% good × 3.16 allocation
- $29,100
Building plumbing & fixturesdefault
$23,000 new × 40% good × 3.16 allocation
- $29,300
Building electrical & lightingdefault
$23,200 new × 40% good × 3.16 allocation
- $29,100
HVACdefault
$23,000 new × 40% good × 3.16 allocation
- $16,600
Hardwood & tile floorsdefault
$13,100 new × 40% good × 3.16 allocation
- $3,300
Fireplacelisting
$2,600 new × 40% good × 3.16 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $92,000 | $56,200 | $400 | $148,700 |
| 2 | $0 | $0 | $9,900 | $9,900 |
| 3 | $0 | $0 | $9,900 | $9,900 |
| 4 | $0 | $0 | $9,900 | $9,900 |
| 5 | $0 | $0 | $9,900 | $9,900 |
| 6+ | $0 | $0 | $346,900 | $346,900 |
| Total | $92,000 | $56,200 | $387,000 | $535,300 |
The building's share of the price ($506,000) is 3.2x our depreciated replacement cost of the home ($160,000). The IRS guide treats a gap this size as a reason to review the land share: if land is worth more than the county ratio says, the basis and the write-off are smaller.
Model-based estimate, not an engineered cost segregation study. The IRS doesn’t approve studies; get a professional study before filing. Using these losses against W-2 income needs the short-term rental exception (average stay ≤7 days + material participation). The 39-year building life applies because stays average under 30 days, a separate test (27.5 years for a long-term rental). Federal only: California, Georgia and Wisconsin disallow bonus depreciation, Ohio adds back 5/6 of it, and Tennessee has no personal income tax. Not tax advice.
Market note
Big Bear Lake (city) and unincorporated county areas both allow permitted short-term rentals, and we found no numeric permit cap in either. Permits/licenses generally do NOT transfer on sale — a buyer must apply for their own, so confirm permit status with the city or San Bernardino County before closing. City: vacation rental license, up to 3 per owner. County: 1 permit per parcel under 2 acres, 2 max per owner. Lodging tax ~13% in the city, ~7% county. Rules change; verify before you buy.