469 Morningstar Dr
Big Bear Lake, CA 92315
$879,000
3 bd · 2 ba · 2,082 sqft · Listed 1d ago
View on Realtor.com →Year built
2002
Sqft
2,082
Lot sqft
10,001
HOA / mo
$0
Furnished
No
List date
2026-10-22T18:59:35.000000Z
Revenue
Annual revenue
$45,710
ADR
$385
Occupancy
33%
Cleaning fees (12 mo)
$8,293
Confidence
Low (33.38), 49 comps
Comp revenue range (p25 / median / p75)
Median revenue of shown comps: $34,037
Fallen Leaf Hideaway Castle Estate
Vacation home · 3 bd · 2 ba · sleeps 10 · 345 ft
Revenue $40,183ADR $406Occ ≈ 27%3.6★ (4)
Eagle Ridge Retreat| Hot Tub+A/C+Game Room+By Lake
Cabin · 3 bd · 2 ba · sleeps 9 · 522 ft
- Hot tub
- A/C
- Free parking
- Wifi
- +5
Revenue $88,258ADR $301Occ ≈ 80%4.9★ (432)
Luxury 3BR/3BA Castle Glen Chalet: Large Sun Deck, Gas BBQ & Private Yard
Vacation home · 3 bd · 3 ba · sleeps 8 · 0.2 mi
Revenue $44,937ADR $2,135Occ ≈ 6%—
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Fallen Leaf Hideaway Castle Estate Vacation home | 3 bd · 2 ba · sleeps 10 | $40,183 | $406 | 27% | 3.6★ (4) | 345 ft | Booking |
SkyLoft | Big Bear Lake View • Hot Tub • Game Room Cabin
| 3 bd · 2 ba · sleeps 8 | $85,112 | $376 | 62% | 4.9★ (69) | 345 ft | AirbnbVrbo |
Fallen Leaf Winter Estate, MTN View Deck & Games Cabin
| 3 bd · 2 ba · sleeps 10 | $30,200 | $370 | 22% | 4.8★ (72) | 420 ft | AirbnbVrbo |
Eagle Ridge Retreat| Hot Tub+A/C+Game Room+By Lake Cabin
| 3 bd · 2 ba · sleeps 9 | $88,258 | $301 | 80% | 4.9★ (432) | 522 ft | Airbnb |
Hot Tub, Game Room & 2 Decks: Luxe Big Bear Home House | 3 bd · 2 ba · sleeps 6 | $57,451 | $461 | 34% | 4.8★ (54) | 0.1 mi | AirbnbVrboBooking |
Copper Moose Lodge: Hot Tub!Game Room!EV Charger! House | 3 bd · 3 ba · sleeps 10 | $21,820 | $436 | 14% | 4.8★ (33) | 0.1 mi | AirbnbVrbo |
Pet Friendly! Pool Table! Foosball! Spa Tub! House | 3 bd · 2 ba · sleeps 10 | $51,179 | $353 | 40% | 4.9★ (41) | 0.1 mi | AirbnbVrbo |
Starlight Vistas | Lake Views + Gas Fireplace Cabin
| 3 bd · 3 ba · sleeps 8 | $18,149 | $347 | 14% | 3.5★ (7) | 0.2 mi | AirbnbVrboBooking |
Luxury 3BR/3BA Castle Glen Chalet: Large Sun Deck, Gas BBQ & Private Yard Vacation home | 3 bd · 3 ba · sleeps 8 | $44,937 | $2,135 | 6% | — | 0.2 mi | Booking |
Amazing retreat w/views in Castle Glen Estates Cabin | 3 bd · 2 ba · sleeps 9 | $58,899 | $423 | 38% | 4.8★ (211) | 0.2 mi | AirbnbVrbo |
Show 39 more
3bdm-sleeps8 Big BearLake WM Resort
Cabin · 3 bd · 2 ba · sleeps 8 · 0.3 mi
Revenue $4,217ADR $502Occ ≈ 2%—
Big Bear Lake Cabin w/ Hot Tub & Gas Fire Pit!
Vacation home · 3 bd · 2 ba · sleeps 10 · 0.3 mi
Revenue $25,994ADR $666Occ ≈ 11%5★ (1)
Eagles Landing Lodge
Cabin · 3 bd · 2.5 ba · sleeps 8 · 0.3 mi
- Hot tub
- Free parking
- Wifi
- Kitchen
- +3
Revenue $2,752ADR $550Occ ≈ 1%5★ (2)
5 Minutes From Bear and Summit
Cabin · 3 bd · 2 ba · sleeps 6 · 0.4 mi
Revenue $9,572ADR $533Occ ≈ 5%—
Delisted
Bear Lodge: Lake and Trails!Ski Slope Views!
House · 3 bd · 2.5 ba · sleeps 8 · 0.4 mi
Revenue $47,794ADR $382Occ ≈ 34%4.3★ (11)
Big Bear Lake - 3 Bedroom Condo
Serviced apartment · 3 bd · 2 ba · sleeps 8 · 0.4 mi
Revenue $17,548ADR $264Occ ≈ 18%—
Big Bear - 3BR
Serviced apartment · 3 bd · 2 ba · sleeps 8 · 0.4 mi
Revenue $7,469ADR $328Occ ≈ 6%5★ (1)
Big Bear 3 Bdrm Condo Resort
Apartment · 3 bd · 2 ba · sleeps 8 · 0.4 mi
Revenue $23,433ADR $183Occ ≈ 35%—
Sunrise Cabin - Hot Tub, Forest Views, Peaceful
Cabin · 3 bd · 3 ba · sleeps 8 · 0.4 mi
Revenue $78,816ADR $302Occ ≈ 72%5★ (68)
Delisted
FourBearsRetreat-Spa, Billiards, Poker, FencedYard
House · 3 bd · 2.5 ba · sleeps 10 · 0.5 mi
Revenue $26,167ADR $396Occ ≈ 18%4.8★ (79)
3bdm-sleeps Big Bear Lake WM-Resort
Cabin · 3 bd · 2 ba · sleeps 8 · 0.5 mi
Revenue $5,085ADR $445Occ ≈ 3%5★ (1)
Spacious Big Bear Sleeps 8-10
Apartment · 3 bd · 2 ba · sleeps 10 · 0.5 mi
Revenue $17,143ADR $413Occ ≈ 11%—
Lakefront Fun | Scenic Deck, Fire Pit & Arcade
House · 3 bd · 2 ba · sleeps 8 · 0.5 mi
- Free parking
- Pets OK
- Wifi
- Kitchen
- +5
Revenue $89,352ADR $403Occ ≈ 61%5★ (75)
Crater Cabin - 3Bdr, Sleeps 7, Fox Farm Area
Cabin · 3 bd · 2 ba · sleeps 7 · 0.5 mi
Revenue $13,793ADR $263Occ ≈ 14%5★ (5)
Enchanting Snow Escape with Hot Tub
Vacation home · 3 bd · 2 ba · sleeps 10 · 0.6 mi
Revenue $87,861ADR $417Occ ≈ 58%5★ (1)
131 - Moose Creek Lodge - Big Bear Getaway
Vacation home · 3 bd · 2 ba · sleeps 9 · 0.6 mi
Revenue $34,037ADR $333Occ ≈ 28%—
Centrally located pet-friendly lodge with fire pit, games, BBQ grill and more!
House · 3 bd · 2 ba · sleeps 9 · 0.6 mi
Revenue $10,564ADR $338Occ ≈ 9%—
Centrally located pet-friendly lodge with fire pit, games, BBQ grill and more!
House · 3 bd · 2 ba · sleeps 9 · 0.6 mi
Revenue $8,115ADR $261Occ ≈ 9%4.6★ (20)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
LuxLogCabin!GarageParking!NearSkiSlopes!GameTable! House | 3 bd · 2 ba · sleeps 10 | $29,544 | $470 | 17% | 4.8★ (124) | 0.2 mi | AirbnbVrbo |
Luxury Cabin Living: HotTub, Fire Pit, Game Room Cabin
| 3 bd · 2.5 ba · sleeps 9 | $59,062 | $654 | 25% | 5★ (42) | 0.3 mi | AirbnbVrbo |
1648-Eagle Ridge Views Cabin
| 3 bd · 2.5 ba · sleeps 10 | $59,238 | $768 | 21% | 4.7★ (11) | 0.3 mi | AirbnbVrbo |
Eagle Ridge Views Log Cabin w/ Hot Tub + Games Cabin
| 3 bd · 2.5 ba · sleeps 10 | $59,902 | $866 | 19% | 4.2★ (13) | 0.3 mi | AirbnbBooking |
3bdm-sleeps8 Big BearLake WM Resort Cabin | 3 bd · 2 ba · sleeps 8 | $4,217 | $502 | 2% | — | 0.3 mi | Airbnb |
Custom Cabin w/Jacuzzi, Pool table, & Game Room Cabin
| 3 bd · 2 ba · sleeps 10 | $43,004 | $808 | 15% | 4.8★ (122) | 0.3 mi | AirbnbVrboBooking |
Big Bear Lake Cabin w/ Hot Tub & Gas Fire Pit! Vacation home | 3 bd · 2 ba · sleeps 10 | $25,994 | $666 | 11% | 5★ (1) | 0.3 mi | Booking |
Big Bear Lake Cabin w/ Hot Tub & Gas Fire Pit! Cabin
| 3 bd · 2 ba · sleeps 10 | $25,588 | $542 | 13% | 4.7★ (16) | 0.3 mi | AirbnbVrbo |
Eagles Landing Lodge Cabin
| 3 bd · 2.5 ba · sleeps 8 | $2,752 | $550 | 1% | 5★ (2) | 0.3 mi | Airbnb |
1 Sweet Retreat: Lake View! Fully Fenced! Hot Tub! House
| 3 bd · 3 ba · sleeps 8 | $82,193 | $483 | 47% | 4.8★ (80) | 0.4 mi | AirbnbVrbo |
5 Minutes From Bear and Summit Cabin | 3 bd · 2 ba · sleeps 6 | $9,572 | $533 | 5% | — | 0.4 mi | Delisted |
Log Home with Mountain Views! Gameroom! Firepit! House
| 3 bd · 3 ba · sleeps 8 | $58,699 | $357 | 45% | 4.8★ (97) | 0.4 mi | AirbnbVrbo |
Bear Lodge: Lake and Trails!Ski Slope Views! House | 3 bd · 2.5 ba · sleeps 8 | $47,794 | $382 | 34% | 4.3★ (11) | 0.4 mi | Airbnb |
3BR's Big Bear Perfect Place to Enjoy! Serviced apartment | 3 bd · 2 ba · sleeps 8 | $42,155 | $226 | 51% | — | 0.4 mi | AirbnbVrbo |
Big Bear Lake - 3 Bedroom Condo Serviced apartment | 3 bd · 2 ba · sleeps 8 | $17,548 | $264 | 18% | — | 0.4 mi | Airbnb |
GorgeousViewsofBakersPond!A/C!SingleStory!HotTub! House
| 3 bd · 2 ba · sleeps 8 | $17,473 | $396 | 12% | 5★ (7) | 0.4 mi | AirbnbVrbo |
Castle Glen Lodge | Hot Tub, Views, Private! House | 3 bd · 2 ba · sleeps 10 | $48,321 | $458 | 29% | 4.8★ (82) | 0.4 mi | AirbnbVrbo |
Three-Bedroom Condo at WorldMark Big Bear! Villa | 3 bd · 2 ba · sleeps 8 | $29,688 | $230 | 35% | 5★ (6) | 0.4 mi | AirbnbVrbo |
Big Bear - 3BR Serviced apartment | 3 bd · 2 ba · sleeps 8 | $7,469 | $328 | 6% | 5★ (1) | 0.4 mi | Airbnb |
Big Bear 3 Bdrm Condo Resort Apartment | 3 bd · 2 ba · sleeps 8 | $23,433 | $183 | 35% | — | 0.4 mi | Airbnb |
Hot Tub, Foosball, Deck w/ Ping Pong & BBQ Grill Cabin | 3 bd · 2 ba · sleeps 8 | $67,855 | $468 | 40% | 4.7★ (88) | 0.4 mi | AirbnbBooking |
Sunrise Cabin - Hot Tub, Forest Views, Peaceful Cabin | 3 bd · 3 ba · sleeps 8 | $78,816 | $302 | 72% | 5★ (68) | 0.4 mi | Delisted |
Aspen Pine Luxury Cabin Cabin | 3 bd · 2 ba · sleeps 6 | $1,253 | $417 | 1% | — | 0.4 mi | Airbnb |
FourBearsRetreat-Spa, Billiards, Poker, FencedYard House | 3 bd · 2.5 ba · sleeps 10 | $26,167 | $396 | 18% | 4.8★ (79) | 0.5 mi | Airbnb |
3bdm-sleeps Big Bear Lake WM-Resort Cabin | 3 bd · 2 ba · sleeps 8 | $5,085 | $445 | 3% | 5★ (1) | 0.5 mi | Airbnb |
Spacious Big Bear Sleeps 8-10 Apartment | 3 bd · 2 ba · sleeps 10 | $17,143 | $413 | 11% | — | 0.5 mi | Airbnb |
Modern Relaxation at Castle Glen Gem Big Bear Lake Chalet
| 3 bd · 2.5 ba · sleeps 8 | $33,861 | $552 | 17% | 5★ (1) | 0.5 mi | AirbnbVrboBooking |
*Brave Stone Cabin a modern Hygge retreat! House | 3 bd · 3 ba · sleeps 9 | $88,966 | $523 | 47% | 4.9★ (168) | 0.5 mi | AirbnbVrbo |
Walk to Lake | Hot Tub + Game Room House
| 3 bd · 3 ba · sleeps 10 | $14,423 | $500 | 8% | 4.8★ (4) | 0.5 mi | AirbnbVrbo |
Lakefront Fun | Scenic Deck, Fire Pit & Arcade House
| 3 bd · 2 ba · sleeps 8 | $89,352 | $403 | 61% | 5★ (75) | 0.5 mi | Airbnb |
Mountain Jewel: Near Grocery Stores & the Lake! House | 3 bd · 2.5 ba · sleeps 9 | $11,901 | $288 | 11% | 4.9★ (85) | 0.5 mi | AirbnbVrbo |
Fox Farm Lodge- Charming Cabin In Central Location Cabin | 3 bd · 2 ba · sleeps 8 | $54,741 | $378 | 40% | 5★ (44) | 0.5 mi | AirbnbVrbo |
Crater Cabin - 3Bdr, Sleeps 7, Fox Farm Area Cabin | 3 bd · 2 ba · sleeps 7 | $13,793 | $263 | 14% | 5★ (5) | 0.5 mi | Airbnb |
Enchanting Snow Escape with Hot Tub Vacation home | 3 bd · 2 ba · sleeps 10 | $87,861 | $417 | 58% | 5★ (1) | 0.6 mi | Booking |
131 - Moose Creek Lodge - Big Bear Getaway Vacation home | 3 bd · 2 ba · sleeps 9 | $34,037 | $333 | 28% | — | 0.6 mi | Booking |
Centrally located pet-friendly lodge with fire pit, games, BBQ grill and more! House | 3 bd · 2 ba · sleeps 9 | $10,564 | $338 | 9% | — | 0.6 mi | Vrbo |
Centrally located pet-friendly lodge with fire pit, games, BBQ grill and more! House | 3 bd · 2 ba · sleeps 9 | $8,115 | $261 | 9% | 4.6★ (20) | 0.6 mi | Vrbo |
Fox Farm Retreat: EV, PingPong, Fenced Yard! Cabin | 3 bd · 2.5 ba · sleeps 7 | $48,564 | $360 | 37% | 5★ (68) | 0.6 mi | AirbnbVrbo |
Paradise Amongst the Pines House | 3 bd · 3 ba · sleeps 10 | $36,268 | $401 | 25% | 5★ (42) | 0.6 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 8.07% = 7.32% Freddie Mac 30-yr avg (Oct 22) + 0.75% investor premium
Est. revenue
$45,710
NOI
$14,559
Cash flow /mo
-$3,656
Cash needed
$280,410
Cash-on-cash
-15.6%
ROE (yr 1)
-4.3%
Cap rate
1.7%
DSCR
0.25
Year-1 write-off
$199,047
Year-1 tax shield @ 32%
$63,695
Year-1 return on equity
- Cash flow (annual)-$43,875
- Principal paydown$5,431
- Appreciation at%$26,370
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)$9,142
- Platform fees (3% of revenue)$1,371
- Maintenance / capex (5% of revenue)$2,286
- Utilities & supplies$4,200
- HOA$0
- Property tax$10,988
- Insurance (STR-rated)$4,483
Cash needed to close
- Down payment (25%)$219,750
- Closing costs (4.0%)$35,160
- Furnishing (bought new)$25,500
Tax savings if the STR loophole applies
- Tax shield @ 32%$63,695
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
$703,000
Short-life (5/15-yr)
$173,000 · 25%
Year-1 deduction
$199,000
Year-1 tax shield @ 32%
$64,000
Land 20% (county tax record, assessed value split) · building $530,000 over 39 years · new furniture $26,000
Based on: 2,082 sq ft, built 2002, 3 bd / 2 ba, unfurnished, listing features (hot tub, deck, patio, fence, game room, fireplace, stone counters, flooring types, appliance list).
Try the cost segregation calculator on any property →
IRS-guide safe-harbor floor: $131,000 in year 1 (15% short-life, $42,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $12,700
Kitchen cabinetsdefault
$10,400 new × 40% good × 3.06 allocation
- $13,000
Kitchen countertops (stone)listing
$10,600 new × 40% good × 3.06 allocation
- $4,500
Decorative trimdefault
$3,600 new × 40% good × 3.06 allocation
- $400
Mirrorsdefault
$300 new × 40% good × 3.06 allocation
- $1,500
Shelvingdefault
$1,200 new × 40% good × 3.06 allocation
- $6,400
Window coverings (21)default
$5,300 new × 40% good × 3.06 allocation
- $8,200
Carpet, vinyl & laminate (50% of floors)listing
$6,700 new × 40% good × 3.06 allocation
- $12,800
Kitchen & laundry equipment plumbingdefault
$8,100 new × 52% good × 3.06 allocation
- $7,800
Kitchen, laundry & data equipment electricaldefault
$4,900 new × 52% good × 3.06 allocation
- $7,000
Appliances (range, microwave, dishwasher, refrigerator)listing
$5,700 new × 40% good × 3.06 allocation
- $11,000
Hot tub (freestanding)listing
$9,000 new × 40% good × 3.06 allocation
- $19,500
Furniture bought newlisting
$19,500 new × 100% good · bought separately
- $6,000
Game-room equipment bought newlisting
$6,000 new × 100% good · bought separately
- $14,500
Paving: driveway & walks (paved)listing
$9,500 new × 50% good × 3.06 allocation
- $13,900
Landscaping (typical)default
$9,100 new × 50% good × 3.06 allocation
- $14,300
Patioslisting
$9,400 new × 50% good × 3.06 allocation
- $35,900
Decks & porches (attached)listing
$23,400 new × 50% good × 3.06 allocation
- $9,200
Fencinglisting
$6,000 new × 50% good × 3.06 allocation
- $415,100
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$226,000 new × 60% good × 3.06 allocation
- $37,300
Building plumbing & fixturesdefault
$23,400 new × 52% good × 3.06 allocation
- $37,700
Building electrical & lightingdefault
$23,700 new × 52% good × 3.06 allocation
- $28,700
HVACdefault
$23,500 new × 40% good × 3.06 allocation
- $8,200
Hardwood & tile floorsdefault
$6,700 new × 40% good × 3.06 allocation
- $3,200
Fireplacelisting
$2,600 new × 40% good × 3.06 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $110,700 | $87,800 | $600 | $199,000 |
| 2 | $0 | $0 | $13,600 | $13,600 |
| 3 | $0 | $0 | $13,600 | $13,600 |
| 4 | $0 | $0 | $13,600 | $13,600 |
| 5 | $0 | $0 | $13,600 | $13,600 |
| 6+ | $0 | $0 | $475,300 | $475,300 |
| Total | $110,700 | $87,800 | $530,200 | $728,700 |
The building's share of the price ($703,000) is 3.1x our depreciated replacement cost of the home ($230,000). 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.