38634 N Shore Dr
Fawnskin, CA 92333
$775,000
4 bd · 2 ba · 1,404 sqft · Listed 7d ago
View on Realtor.com →Year built
1977
Sqft
1,404
Lot sqft
6,800
HOA / mo
$0
Furnished
No
List date
2026-09-22T21:22:22.000000Z
Revenue
Annual revenue
$59,523
ADR
$703
Occupancy
23%
Cleaning fees (12 mo)
$6,633
Confidence
Low (16.27), 14 comps
Comp revenue range (p25 / median / p75)
North Shore Chalet by Big Bear Vacations Lakeside Fawnskin Estate Boat Dock Lake Access
Chalet · 4 bd · 3 ba · sleeps 8 · 43 ft
Revenue $76,433ADR $1,424Occ ≈ 15%—
169 - Lakefront Deep Water - Big Bear Getaway
Vacation home · 4 bd · 2 ba · sleeps 10 · 0.2 mi
Revenue $54,189ADR $488Occ ≈ 30%—
Scenic and Serene Lake House! 4 bedroom 2 bath home bordering the national fores
House · 4 bd · 2 ba · sleeps 10 · 0.2 mi
Revenue $1,743ADR $249Occ ≈ 2%5★ (1)
Scenic and Serene Lake House! 4 bedroom 2 bath home bordering the national fores
House · 4 bd · 2 ba · sleeps 10 · 0.2 mi
Revenue $4,463ADR $390Occ ≈ 3%—
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
North Shore Chalet by Big Bear Vacations Lakeside Fawnskin Estate Boat Dock Lake Access Chalet | 4 bd · 3 ba · sleeps 8 | $76,433 | $1,424 | 15% | — | 43 ft | Booking |
Living Lake Life at North Shore Chalet Big Bear Chalet | 4 bd · 2.5 ba · sleeps 8 | $50,811 | $592 | 24% | 4★ (17) | 148 ft | AirbnbVrboBooking |
Peaceful Lakefront Cabin in Fawnskin with Fire Pit House | 4 bd · 3 ba · sleeps 12 | $4,269 | $739 | 2% | — | 443 ft | AirbnbVrbo |
Lakefront + Private Dock + Beach • Hiking + Trails House | 4 bd · 2.5 ba · sleeps 8 | $10,915 | $355 | 8% | 4.9★ (5) | 509 ft | AirbnbVrboBooking |
BB lakefront home w/spectacular views & Generator! House | 4 bd · 3 ba · sleeps 10 | $53,620 | $591 | 25% | 5★ (95) | 0.1 mi | AirbnbVrbo |
169 - Lakefront Deep Water - Big Bear Getaway Vacation home | 4 bd · 2 ba · sleeps 10 | $54,189 | $488 | 30% | — | 0.2 mi | Booking |
Scenic and Serene Lake House! 4 bedroom 2 bath home bordering the national fores House | 4 bd · 2 ba · sleeps 10 | $1,743 | $249 | 2% | 5★ (1) | 0.2 mi | Vrbo |
Scenic and Serene Lake House! 4 bedroom 2 bath home bordering the national fores House | 4 bd · 2 ba · sleeps 10 | $4,463 | $390 | 3% | — | 0.2 mi | Vrbo |
Firepit BBQ Game Room House | 4 bd · 2 ba · sleeps 10 | $40,192 | $486 | 23% | 4.3★ (7) | 0.2 mi | AirbnbVrbo |
Your own Boat Dock, Peekaboo Lake Views, 4 Bedroom House | 4 bd · 2.5 ba · sleeps 12 | $21,759 | $650 | 9% | 4.8★ (37) | 0.6 mi | AirbnbVrbo |
Show all 14 comps
Inspiration Point Retreat by Big Bear Vacations
Vacation home · 4 bd · 3 ba · sleeps 10 · 0.7 mi
Revenue $136,845ADR $917Occ ≈ 41%—
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Inspiration Point Retreat- Boat Dock + Game Room Cabin | 4 bd · 3 ba · sleeps 10 | $100,332 | $622 | 44% | 4★ (10) | 0.7 mi | AirbnbVrboBooking |
Inspiration Point Retreat by Big Bear Vacations Vacation home | 4 bd · 3 ba · sleeps 10 | $136,845 | $917 | 41% | — | 0.7 mi | Booking |
Walk to Lake | Lake Views | Hot Tub | Pool Table House | 4 bd · 3 ba · sleeps 8 | $33,826 | $902 | 10% | 5★ (51) | 0.7 mi | AirbnbVrbo |
Pet Friendly! Hot Tub! Outdoor Oasis! Firepit! House | 4 bd · 3 ba · sleeps 10 | $73,831 | $684 | 30% | 5★ (40) | 0.7 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 7.78% = 7.03% Freddie Mac 30-yr avg (Sep 24) + 0.75% investor premium
Est. revenue
$59,523
NOI
$26,179
Cash flow /mo
-$1,995
Cash needed
$247,750
Cash-on-cash
-9.7%
ROE (yr 1)
1.8%
Cap rate
3.4%
DSCR
0.52
Year-1 write-off
$125,651
Year-1 tax shield @ 32%
$40,208
Year-1 return on equity
- Cash flow (annual)-$23,935
- Principal paydown$5,071
- Appreciation at%$23,250
Opex, cash-needed & tax-savings breakdown
Annual operating expenses
- Management (20% of revenue)$11,905
- Platform fees (3% of revenue)$1,786
- Maintenance / capex (5% of revenue)$2,976
- Utilities & supplies$4,200
- HOA$0
- Property tax$9,688
- Insurance (STR-rated)$3,953
Cash needed to close
- Down payment (25%)$193,750
- Closing costs (4.0%)$31,000
- Furnishing (bought new)$23,000
Tax savings if the STR loophole applies
- Tax shield @ 32%$40,208
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
$379,000
Short-life (5/15-yr)
$102,000 · 27%
Year-1 deduction
$126,000
Year-1 tax shield @ 32%
$40,000
Land 51% (county tax record, assessed value split) · building $277,000 over 39 years · new furniture $23,000
Based on: 1,404 sq ft, built 1977, 4 bd / 2 ba, unfurnished, listing features (fireplace, flooring types).
IRS-guide safe-harbor floor: $96,000 in year 1 (19% short-life, $31,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $12,100
Kitchen cabinetsdefault
$8,900 new × 40% good × 3.41 allocation
- $9,900
Kitchen countertopsdefault
$7,300 new × 40% good × 3.41 allocation
- $3,400
Decorative trimdefault
$2,500 new × 40% good × 3.41 allocation
- $400
Mirrorsdefault
$300 new × 40% good × 3.41 allocation
- $2,000
Shelvingdefault
$1,500 new × 40% good × 3.41 allocation
- $4,800
Window coverings (14)default
$3,500 new × 40% good × 3.41 allocation
- $12,300
Carpet, vinyl & laminate (100% of floors)listing
$9,000 new × 40% good × 3.41 allocation
- $9,400
Kitchen & laundry equipment plumbingdefault
$6,900 new × 40% good × 3.41 allocation
- $5,700
Kitchen, laundry & data equipment electricaldefault
$4,200 new × 40% good × 3.41 allocation
- $11,000
Appliances (range, microwave, dishwasher, disposal, refrigerator, washer, dryer)default
$8,100 new × 40% good × 3.41 allocation
- $23,000
Furniture bought newlisting
$23,000 new × 100% good · bought separately
- $13,200
Paving: driveway & walks (paved)default
$7,800 new × 50% good × 3.41 allocation
- $12,700
Landscaping (typical)default
$7,500 new × 50% good × 3.41 allocation
- $2,400
Patiosdefault
$1,400 new × 50% good × 3.41 allocation
- $2,400
Decks & porches (attached)default
$1,400 new × 50% good × 3.41 allocation
- $206,700
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$151,600 new × 40% good × 3.41 allocation
- $21,500
Building plumbing & fixturesdefault
$15,800 new × 40% good × 3.41 allocation
- $20,500
Building electrical & lightingdefault
$15,100 new × 40% good × 3.41 allocation
- $21,600
HVACdefault
$15,800 new × 40% good × 3.41 allocation
- $7,200
Fireplaces (2)listing
$5,300 new × 40% good × 3.41 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $94,100 | $30,700 | $900 | $125,700 |
| 2 | $0 | $0 | $7,100 | $7,100 |
| 3 | $0 | $0 | $7,100 | $7,100 |
| 4 | $0 | $0 | $7,100 | $7,100 |
| 5 | $0 | $0 | $7,100 | $7,100 |
| 6+ | $0 | $0 | $248,100 | $248,100 |
| Total | $94,100 | $30,700 | $277,500 | $402,300 |
The building's share of the price ($379,000) is 3.4x our depreciated replacement cost of the home ($111,000). 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.