375 E Highway 20 Hwy #8

Upper Lake, CA 95485

$149,950B

4 bd · 2.0 ba · 1,324 sqft · Built 2025 · Manufactured · Pending · 50 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,022/mo
• Mortgage (P&I): −$786
• Tax + insurance: −$250
• HOA: −$0
• Vac / Maint / Mgmt: −$425
• Net cashflow: $561/mo
• Annual: $6,732/yr
• Cap rate: 10.78%
• Cash-on-cash: 16.03%
• DSCR: 1.71
• 1% rule: 1.35%
• Cash to close: $41,986

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $150k. Condition is rated good.
• At list price, monthly cash flow is $561 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• It's been on market 50 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $145k (3.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($1k loan paydown + $589 appreciation (0.4% local appreciation)).
• Location reads 65/100 on livability (#390 in CA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: health & safety D+, schools D-, amenities F.
• Upper Lake Unified (rural): math 17% / reading 32% proficiency, ranked #433 of 517 in CA (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 31 active listings in the ZIP; 107 units permitted in Lake County in 2024 (40 in 5+ unit buildings).
• Lake County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.4% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.