STR Yield
← Back to deals
MortgageCash

Rate 7.78% = 7.03% Freddie Mac 30-yr avg (Sep 24) + 0.75% investor premium

691 Santa Barbara Ave

691 Santa Barbara Ave

Sugarloaf, CA 92386

$350,000

2 bd · 1 ba · 806 sqft · Listed 14d ago

View on Realtor.com →
Negative cash flow

Year built

1973

Sqft

806

Lot sqft

5,001

HOA / mo

$0

Furnished

Yes

List date

2026-09-15T17:34:15.000000Z

Revenue

Annual revenue

$23,516

ADR

$183

Occupancy

35%

Cleaning fees (12 mo)

$5,552

Confidence

Low (41.66), 49 comps

Comp revenue range (p25 / median / p75)

$13,938$20,607$30,523

  • Between-the-Pines Cozy Cabin

    Cabin · 2 bd · 1 ba · sleeps 6 · 400 ft

    Revenue $12,293ADR $339Occ ≈ 10%5★ (25)

    Airbnb

  • Sandy's Place - Summer Specials, California King

    House · 2 bd · 1 ba · sleeps 6 · 518 ft

    Revenue $2,059ADR $221Occ ≈ 3%4.3★ (3)

    Airbnb

  • 2 Bedroom Cabin

    Cabin · 2 bd · 2 ba · sleeps 8 · 0.1 mi

    Revenue $14,599ADR $136Occ ≈ 29%4.9★ (9)

    Airbnb

  • Cozy Mountain Cabin | Relax | Hike | Lake Nearby

    Cabin · 2 bd · 1 ba · sleeps 6 · 0.1 mi

    Revenue $34,790ADR $163Occ ≈ 58%4.9★ (157)

    Airbnb

  • Dog Friendly Cabin + Fenced Backyard! No Pet Fees!

    Cabin · 2 bd · 1 ba · sleeps 6 · 0.1 mi

    Revenue $29,753ADR $206Occ ≈ 40%5★ (90)

    AirbnbVrboBooking

  • SandyBear Cabin! Open floor plan & covered patio!

    Cabin · 2 bd · 2 ba · sleeps 5 · 0.1 mi

    Revenue $20,919ADR $243Occ ≈ 24%4.8★ (171)

    Airbnb

  • Updated pet-friendly home with fenced yard, deck, near attractions and more!

    House · 2 bd · 2 ba · sleeps 6 · 0.1 mi

    Revenue $3,514ADR $195Occ ≈ 5%—

    Vrbo

  • Cozy Home with Serene Views. Pet-Friendly!

    House · 2 bd · 1.5 ba · sleeps 6 · 0.2 mi

    Revenue $22,010ADR $200Occ ≈ 30%4.9★ (36)

    Airbnb

  • Cozy Getaway, Lake, Dog Friendly, Quiet & Peaceful

    Cabin · 2 bd · 2 ba · sleeps 7 · 0.2 mi

    Revenue $16,498ADR $292Occ ≈ 15%5★ (31)

    AirbnbVrbo

  • Twin Pines | Cozy Big Bear Cabin w/ Hot Tub

    Cabin · 2 bd · 1 ba · sleeps 6 · 0.2 mi

    Revenue $10,702ADR $149Occ ≈ 20%4.9★ (48)

    Airbnb

Show all 50 comps

  • Updated pet-friendly home with fenced yard deck

    House · 2 bd · 2 ba · sleeps 6 · 0.2 mi

    Revenue $13,718ADR $215Occ ≈ 17%4.3★ (17)

    AirbnbVrboBooking

  • Pine Forest Retreat - Private Hot Tub & Fire Pit

    House · 2 bd · 1.5 ba · sleeps 4 · 0.2 mi

    Revenue $33,292ADR $212Occ ≈ 43%4.8★ (205)

    Airbnb

  • Near Slopes & Shores: Pet-Friendly Sugarloaf Gem

    Cabin · 2 bd · 1 ba · sleeps 6 · 0.2 mi

    Revenue $17,674ADR $211Occ ≈ 23%4.8★ (37)

    AirbnbVrboBooking

  • Ohana Pines Cabin

    Cabin · 2 bd · 1 ba · sleeps 5 · 0.2 mi

    Revenue $11,527ADR $282Occ ≈ 11%5★ (52)

    AirbnbVrbo

  • Cozy Quiet Cabin Escape

    House · 2 bd · 1.5 ba · sleeps 6 · 0.2 mi

    Revenue $26,392ADR $155Occ ≈ 47%4.9★ (107)

    Airbnb

  • The Eagles Nest Hot Tub BBQ Modern Retreat

    Chalet · 2 bd · 1 ba · sleeps 4 · 0.2 mi

    Revenue $23,043ADR $262Occ ≈ 24%3.5★ (1)

    Booking

  • Acute A Frame Cozy Cottage & BBQ

    Cabin · 2 bd · 1 ba · sleeps 4 · 0.2 mi

    Revenue $32,991ADR $198Occ ≈ 46%4.5★ (368)

    AirbnbVrboBooking

  • Updated pet-friendly home with fenced yard, deck, near attractions and more!

    House · 2 bd · 2 ba · sleeps 6 · 0.2 mi

    Revenue $532ADR $133Occ ≈ 1%3★ (1)

    Vrbo

  • Cozy cabin

    Cabin · 2 bd · 1 ba · sleeps 9 · 0.2 mi

    Revenue $3,058ADR $235Occ ≈ 4%4.8★ (60)

    AirbnbVrbo

  • Cozy Modern Spa, AC, BBQ, Firepit

    House · 2 bd · 1 ba · sleeps 5 · 0.2 mi

    Revenue $48,306ADR $211Occ ≈ 63%4.8★ (161)

    Airbnb

  • Newly Remodeled! PetsOK, Bikes,Firepit, Fooseball!

    Cabin · 2 bd · 1 ba · sleeps 4 · 0.2 mi

    Revenue $34,444ADR $180Occ ≈ 52%4.9★ (106)

    Airbnb

  • Pops Bear Cabin (Pub, Firepit, BBQ, Games & More)

    Cabin · 2 bd · 1 ba · sleeps 6 · 0.2 mi

    Revenue $42,433ADR $188Occ ≈ 62%5★ (238)

    AirbnbVrbo

  • Cozy Rustic Cottage in Sugarloaf

    Cabin · 2 bd · 2 ba · sleeps 4 · 0.2 mi

    Revenue $14,817ADR $188Occ ≈ 22%4.9★ (12)

    AirbnbVrbo

  • The Red Door Chalet — Fireplaces | BBQ | Wifi | EV

    Cabin · 2 bd · 2 ba · sleeps 7 · 0.2 mi

    Revenue $21,360ADR $220Occ ≈ 27%5★ (44)

    Airbnb

  • Quiet Pine Cabin nestled in the National Forest

    Cabin · 2 bd · 1 ba · sleeps 4 · 0.2 mi

    Revenue $39,057ADR $253Occ ≈ 42%5★ (181)

    AirbnbVrbo

  • AC*HikingTrails+PetsOK+Arcade+FencedYard+BBQ

    Cabin · 2 bd · 2 ba · sleeps 6 · 0.2 mi

    Revenue $23,251ADR $240Occ ≈ 27%4.8★ (37)

    Airbnb

  • Heavenly Bear by Big Bear Vacations

    Vacation home · 2 bd · 1 ba · sleeps 4 · 0.2 mi

    Revenue $38,385ADR $467Occ ≈ 23%—

    Booking

  • Heavenly bear #2362

    Vacation home · 2 bd · 1 ba · sleeps 4 · 0.2 mi

    Revenue $50,193ADR $651Occ ≈ 21%—

    Booking

  • Relaxing Heavenly Bear Cottage at Sugarloaf

    Cabin · 2 bd · 1 ba · sleeps 4 · 0.3 mi

    Revenue $19,195ADR $418Occ ≈ 13%3.5★ (2)

    AirbnbVrbo

  • Sunset Point A Modern A-Frame

    Cabin · 2 bd · 2 ba · sleeps 6 · 0.3 mi

    Revenue $14,766ADR $204Occ ≈ 20%5★ (55)

    AirbnbVrbo

  • Spacious Big Bear cabin with fireplace

    Cabin · 2 bd · 1.5 ba · sleeps 5 · 0.3 mi

    Revenue $11,328ADR $140Occ ≈ 22%4.9★ (107)

    Airbnb

  • Steps from the National Forest: Deck & Gated Yard

    Cabin · 2 bd · 1 ba · sleeps 4 · 0.3 mi

    Revenue $30,780ADR $188Occ ≈ 45%5★ (197)

    Airbnb

  • Vista Sugarloaf ~ Dog-friendly Mountain getaway near town & skiing w/ gas grill & spacious deck

    Vacation home · 2 bd · 1 ba · sleeps 6 · 0.3 mi

    Revenue $32,126ADR $463Occ ≈ 19%5★ (1)

    Booking

  • Vista Sugarloaf ~Mountain Getaway

    Cabin · 2 bd · 1 ba · sleeps 6 · 0.3 mi

    Revenue $26,334ADR $455Occ ≈ 16%—

    AirbnbVrboBooking

  • Private/Spacious Cabin near Big Bear

    Cabin · 2 bd · 1.5 ba · sleeps 4 · 0.3 mi

    Revenue $28,246ADR $214Occ ≈ 36%4.9★ (11)

    AirbnbVrbo

  • 3 Oaks Cabin - Secluded Private Cabin w Hot Tub

    Cabin · 2 bd · 1 ba · sleeps 4 · 0.3 mi

    Revenue $53,663ADR $214Occ ≈ 69%5★ (162)

    Airbnb

  • The K Chalet - An Intimate Mountain Retreat

    Cabin · 2 bd · 2 ba · sleeps 6 · 0.3 mi

    Revenue $17,749ADR $228Occ ≈ 21%5★ (76)

    Airbnb

  • Smart TV, Fireplace, BBQ

    Cabin · 2 bd · 1 ba · sleeps 4 · 0.3 mi

    Revenue $9,588ADR $208Occ ≈ 13%4.8★ (21)

    AirbnbVrboBooking

  • Cute and Cozy Cottage- Big Bear Retreat

    Cabin · 2 bd · 2 ba · sleeps 4 · 0.3 mi

    Revenue $15,570ADR $967Occ ≈ 4%3★ (5)

    AirbnbVrboBooking

  • Family Friendly w/Fenced Yard & Game Room

    Cabin · 2 bd · 2 ba · sleeps 6 · 0.3 mi

    Revenue $18,010ADR $292Occ ≈ 17%5★ (23)

    AirbnbVrboBooking

  • 8 Mi to Big Bear Lake: Cabin w/ Deck & Fireplace

    Cabin · 2 bd · 1.5 ba · sleeps 6 · 0.3 mi

    Revenue $22,731ADR $205Occ ≈ 30%5★ (34)

    AirbnbVrboBooking

  • Romantic A Frame w/Eco Organic Bed+Late Checkout

    Chalet · 2 bd · 1 ba · sleeps 4 · 0.3 mi

    Revenue $56,004ADR $207Occ ≈ 74%5★ (221)

    Airbnb

  • Cozy Bear Lodge | Deck, EV charger and Near Slopes

    House · 2 bd · 1 ba · sleeps 6 · 0.3 mi

    Revenue $11,852ADR $107Occ ≈ 30%5★ (9)

    AirbnbVrboBooking

  • Cute Cozy Comfort Cabin, 1 Night Free!

    Cabin · 2 bd · 1.5 ba · sleeps 6 · 0.3 mi

    Revenue $10,746ADR $230Occ ≈ 13%4.2★ (5)

    AirbnbVrbo

  • The Beary Cozy Cabin + open woods near by!

    Cabin · 2 bd · 1 ba · sleeps 6 · 0.3 mi

    Revenue $20,294ADR $130Occ ≈ 43%4.5★ (12)

    AirbnbVrboBooking

  • Bear Escapes II: Affordable Luxury Cabin Big Bear

    Cabin · 2 bd · 1 ba · sleeps 5 · 0.3 mi

    Revenue $23,076ADR $197Occ ≈ 32%5★ (68)

    AirbnbVrboBooking

  • Private Cabin in Quiet Valley w/ Hot Tub + Views

    House · 2 bd · 2 ba · sleeps 6 · 0.3 mi

    Revenue $19,450ADR $220Occ ≈ 24%5★ (27)

    AirbnbVrboBooking

  • Gnome Charm, 2 bedroom. Avail for 2026 ski season.

    Cabin · 2 bd · 1 ba · sleeps 4 · 0.3 mi

    Revenue $7,084ADR $87Occ ≈ 22%5★ (82)

    AirbnbVrbo

  • Juniper Hideaway: Steps to Forest + Hot Tub

    Cabin · 2 bd · 2 ba · sleeps 6 · 0.3 mi

    Revenue $24,723ADR $391Occ ≈ 17%4.9★ (20)

    AirbnbVrbo

  • Sugarloaf Cutie w/Wood Burning Fireplace.

    Cabin · 2 bd · 1 ba · sleeps 6 · 0.4 mi

    Revenue $15,483ADR $242Occ ≈ 18%4.5★ (41)

    AirbnbVrboBooking

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

Financing
Term

Rate 7.78% = 7.03% Freddie Mac 30-yr avg (Sep 24) + 0.75% investor premium

Est. revenue

$23,516

NOI

$7,097

Cash flow /mo

-$1,295

Cash needed

$101,500

Cash-on-cash

-15.3%

ROE (yr 1)

-2.7%

Cap rate

2.0%

DSCR

0.31

Year-1 write-off

$94,509

Year-1 tax shield @ 32%

$30,243

Year-1 return on equity

  • Cash flow (annual)-$15,536
  • Principal paydown$2,290
  • Appreciation at%$10,500
ROE-2.7%
ROE incl. year-1 tax savings (32% bracket, STR loophole)27.1%
Opex, cash-needed & tax-savings breakdown

Annual operating expenses

  • Management (20% of revenue)$4,703
  • Platform fees (3% of revenue)$705
  • Maintenance / capex (5% of revenue)$1,176
  • Utilities & supplies$4,200
  • HOA$0
  • Property tax$4,697
  • Insurance (STR-rated)$1,785

Cash needed to close

  • Down payment (25%)$87,500
  • Closing costs (4.0%)$14,000
  • Furnishing (conveyed with the sale)$0

Tax savings if the STR loophole applies

  • Tax shield @ 32%$30,243

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

$281,000

Short-life (5/15-yr)

$94,000 · 33%

Year-1 deduction

$95,000

Year-1 tax shield @ 32%

$30,000

Land 20% (county tax record, assessed value split) · building $187,000 over 39 years

Based on: 806 sq ft, built 1973, 2 bd / 1 ba, furnished, listing features (deck, fireplace, flooring types, appliance list).

IRS-guide safe-harbor floor: $52,000 in year 1 (18% short-life, $17,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$52,300

  • Kitchen cabinetsdefault

    $7,600 new × 40% good × 3.89 allocation

    $11,800

  • Kitchen countertopsdefault

    $6,200 new × 40% good × 3.89 allocation

    $9,600

  • Decorative trimdefault

    $1,400 new × 40% good × 3.89 allocation

    $2,200

  • Mirrorsdefault

    $200 new × 40% good × 3.89 allocation

    $200

  • Shelvingdefault

    $900 new × 40% good × 3.89 allocation

    $1,400

  • Window coverings (8)default

    $2,000 new × 40% good × 3.89 allocation

    $3,100

  • Kitchen & laundry equipment plumbingdefault

    $5,900 new × 40% good × 3.89 allocation

    $9,200

  • Kitchen, laundry & data equipment electricaldefault

    $3,600 new × 40% good × 3.89 allocation

    $5,500

  • Appliances (range)listing

    $1,800 new × 40% good × 3.89 allocation

    $2,800

  • Furniture conveyed with the sale (used)listing

    $16,000 new × 40% good · out of the price

    $6,400
15-year land improvements$41,700

  • Paving: driveway & walks (paved)default

    $5,900 new × 50% good × 3.89 allocation

    $11,400

  • Landscaping (typical)default

    $5,700 new × 50% good × 3.89 allocation

    $11,000

  • Patiosdefault

    $800 new × 50% good × 3.89 allocation

    $1,500

  • Decks & porches (attached)listing

    $9,100 new × 50% good × 3.89 allocation

    $17,600
Building, 39-year$187,400

  • Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault

    $87,000 new × 40% good × 3.89 allocation

    $135,400

  • Building plumbing & fixturesdefault

    $9,000 new × 40% good × 3.89 allocation

    $14,000

  • Building electrical & lightingdefault

    $7,500 new × 40% good × 3.89 allocation

    $11,700

  • HVACdefault

    $9,100 new × 40% good × 3.89 allocation

    $14,100

  • Hardwood & tile floorsdefault

    $5,200 new × 40% good × 3.89 allocation

    $8,100

  • Fireplacelisting

    $2,600 new × 40% good × 3.89 allocation

    $4,100

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$52,300$41,700$600$94,500
2$0$0$4,800$4,800
3$0$0$4,800$4,800
4$0$0$4,800$4,800
5$0$0$4,800$4,800
6+$0$0$167,600$167,600
Total$52,300$41,700$187,400$281,300

The building's share of the price ($275,000) is 3.9x our depreciated replacement cost of the home ($71,000). 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 and Georgia 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.