The Story Behind the Sale
It Sold for Less Than It Cost in 2021. It Still Made Money.
745 Barrett Way closed on September 10, 2026 for $452,500. Public listing history shows the same house traded at $470,000 in August 2021. Five years later, furniture included and rental permit in place, it sold for about $17,500 less.
Put that on a flyer and it reads like a loss. It wasn't one, and the reason matters more than the sale price does.
This house was never sitting empty. It ran as a short-term rental the entire five years — the listing's published remarks cite income averaging roughly $5,000 a month, and 230-plus five-star reviews say it ran consistently, not in bursts. Against that, the price decline plus selling costs came to about $44,650.
Run the full five years three ways, varying the one thing I cannot know — what the owners spent to operate it:
Every row is after subtracting the price decline and the full selling costs. The owners ran this one themselves, which puts them in the top row — but the answer doesn't depend on which row you pick. That's the point. Across every reasonable assumption, this house paid them to hold it.
How I calculated this
61-month hold. Gross rental income of $5,000/month taken from the property's published listing remarks. Actual San Bernardino County property taxes of roughly $28,080 over the period. Selling costs estimated at 6% of the sale price. The $17,500 price change. Operating costs modeled as a percentage of gross, because the sellers' actual books are private.
These figures are illustrative, not audited financials. They exclude mortgage interest and principal paydown, and exclude depreciation and tax treatment — both of which typically work in the owner's favor. They are not a projection of what any other property will do. Your numbers will be different, which is exactly why they're worth running.
It Still Took 141 Days
Performing well as an investment and being priced right on day one are different questions, and this sale only got one of them right. Here's the whole price path, including the part that isn't flattering to me.
Four price positions across five months, landing 9.5% below the original ask. The cost of those 141 days wasn't the reductions — it was five extra months of carrying a house that was already doing its job. Priced at the market from day one, this sells in a fraction of the time for close to the same number.
Which is the whole lesson, and it cuts both ways. Stop measuring an income property by its sale price. If you bought a Big Bear rental in 2021 and you're waiting to "get back to even" before you sell, you may already be well past even and not know it. Then price it like a seller who knows that, instead of one defending a number from five years ago.
Sale data from Mountain Resort Communities AOR (MLS #32600749) and public records. The 2021 sale price is as reported in public listing history. Rental income is from the property's published listing remarks and was not independently audited. Short-term rental permits in Big Bear are regulated by the City of Big Bear Lake and San Bernardino County depending on location, are subject to change, and do not automatically transfer with a sale — verify current eligibility before relying on it. Nothing here is investment, tax, or legal advice.