2267 Crest Dr · Fortuna, CA 95540

$99,000

2 bd · 2.0 ba · 1,440 sqft · Manufactured · 113 Days on market

Built 1973 ↓ 32% since listing

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.5/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A view for miles and miles. This home has a wonderful view of the Eel River Valley, Ferndale and beyond. Sit on your covered front porch with glassed in seating so you can enjoy your first cup of coffee on the deck year round. Pop out the Sunsetter Awning if it gets too warm. In the living room you will find big picture windows to enjoy the views from the warmth of the interior. Large combo dining area with Tiffany style lighting and built in cabinets. There is an Air Conditioner mounted in the living room wall to battle those hot Summer days too. The kitchen has a open breakfast bar, updated cabinetry, appliance caddy, trash compactor and a spot for an oversized refrigerator. Seller converted the closet in the family room to an additional pantry for overflow food storage. The 2 bedrooms and 2 bathrooms are very nicely appointed, with nice sized closets and updated windows. The Master bath has a nice glassed in walk-in shower, and additional linen storage. The 8x40 (320 additional sq ft) front porch was completed enclosed and provides ample additional hobby space. In the enclosed porch is a 2 person hot tub to soak out the stiffness on those cold mornings. Sheds in the carport are great little shop spaces, both have power. Handicap ramp in the carport stays for easy access. The carport has been widened so that it is easier to get in and out of the vehicle when you park under cover.

Key facts

• Glassed in seating
• Tons of storage
• Updated cabinetry

Tags

• VIEW OF THE EEL RIVER VALLEY
• GLASSED IN SEATING
• LARGE PICTURE WINDOWS
• BREAKFAST BAR
• UPDATED CABINETRY
• TONS OF STORAGE

Property features AI

Finance

• Other: Private maintained road access; Lot is level to rolling slope; Concrete and paved road surface; Zoning: Other
• HOA & community: Located in Royal Crest Estates (park community)

Exterior

• Parking: 2 garage spaces
• Utilities: Public water; Public sewer; 220 volts electrical service; Circuit breakers; 220 volts in laundry; Underground utilities; Electricity connected; Natural gas connected (and available); Phone available
• Home design: Residential single family home; Located in a park setting (Royal Crest Estates, Hillcrest make)
• Construction: Aluminum siding; Membrane roof
• Exterior features: Deck; Porch; Partial fencing; Outbuilding; Has view; Insulation (energy efficient)

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Range hood
• Bedrooms: Total of 5 rooms (includes bedrooms and living spaces)
• Flooring: Carpet; Vinyl; Laminate
• Heating & cooling: Forced air heating; Natural gas heating; Has heating
• Interior features: Built-in features; Breakfast bar; Pantry; Other
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $99k.

Deal economics

• At list price, monthly cash flow is $560 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $90k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.1% vs local median 2.4% in Fortuna — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 69/100 on livability (#246 in CA) — a middle-class / working-renter tenant base. Strengths: health & safety A+, commute A-; Watch: employment D+, amenities F, cost of living F.
• Fortuna Union High (town): math 17% / reading 44% proficiency, ranked #350 of 517 in CA (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Linell K. Walker Elementary (math 17% / reading 27%, grade F, #1,179 of 1,571 statewide, top 78%, 294 students, 82% FRL); Fortuna Middle (math 10% / reading 24%, grade F, #443 of 498 statewide, top 90%, 237 students, 80% FRL); Fortuna Union High (math 12% / reading 37%, grade F, #826 of 1,170 statewide, top 80%, 830 students, 47% FRL).
• Market conditions: 110 active listings in the ZIP; 188 units permitted in Humboldt County in 2024 (17 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Humboldt County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($90k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $51k (34%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $90,090 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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.

Investment metrics

• 1% rule: 1.59% ✓
• Cap rate: 13.09%
• Cash-on-cash: 24.26%
• DSCR: 2.08
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 17.6%
• Equity multiple: 1.71×
• Total profit: $19,673
• Equity at exit: $14,761

10-year hold

• IRR: 26.0%
• Equity multiple: 3.28×
• Total profit: $63,185
• Equity at exit: $8,560

Cash invested: $27,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 95540

• Active inventory: 110
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,575 medium
• Mortgage (P&I): −$519
• Tax est. 1.5%: −$124 /mo · $1,485/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $560

Break-even live

Break-even rent $866

Max offer price $99,000

Occupancy floor 59%

Sensitivity live

Price	-10% $629	-5% $595	+0% $560	+5% $526	+10% $492
Rent	-10% $436	-5% $498	+0% $560	+5% $623	+10% $685
Rate	-1.0pp $610	-0.5pp $586	base $560	+0.5pp $535	+1.0pp $509

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $99,000 Active 113 DOM
2. 2026-06-19
   pricedays on market $99,000 Active 111 DOM
3. 2026-06-18
   days on market $115,000 Active 110 DOM
4. 2026-06-17
   days on market $115,000 Active 109 DOM
5. 2026-06-16
   days on market $115,000 Active 108 DOM
6. 2026-06-15
   days on market $115,000 Active 107 DOM
7. 2026-06-14
   days on market $115,000 Active 105 DOM
8. 2026-06-12
   days on market $115,000 Active 104 DOM
9. 2026-06-09
   days on market $115,000 Active 101 DOM
10. 2026-06-08
    days on market $115,000 Active 100 DOM
11. 2026-06-07
    days on market $115,000 Active 99 DOM
12. 2026-06-07
    days on market $115,000 Active 98 DOM
13. 2026-06-04
    days on market $115,000 Active 95 DOM
14. 2026-06-02
    days on market $115,000 Active 94 DOM
15. 2026-06-01
    days on market $115,000 Active 93 DOM
16. 2026-05-31
    days on market $115,000 Active 92 DOM
17. 2026-05-31
    days on market $115,000 Active 91 DOM
18. 2026-04-15
    price $115,000
19. 2026-03-10
    price $119,999
20. 2026-02-28
    listed $149,999 Active
21. 2024-01-22
    soldstatus $160,000 Closed 1404-char remark

    Show marketing remark (1404 chars)

    A view for miles and miles. This home has a wonderful view of the Eel River Valley, Ferndale and beyond. Sit on your covered front porch with glassed in seating so you can enjoy your first cup of coffee on the deck year round. Pop out the Sunsetter Awning if it gets too warm. In the living room you will find big picture windows to enjoy the views from the warmth of the interior. Large combo dining area with Tiffany style lighting and built in cabinets. There is an Air Conditioner mounted in the living room wall to battle those hot Summer days too. The kitchen has a open breakfast bar, updated cabinetry, appliance caddy, trash compactor and a spot for an oversized refrigerator. Seller converted the closet in the family room to an additional pantry for overflow food storage. The 2 bedrooms and 2 bathrooms are very nicely appointed, with nice sized closets and updated windows. The Master bath has a nice glassed in walk-in shower, and additional linen storage. The 8x40 (320 additional sq ft) front porch was completed enclosed and provides ample additional hobby space. In the enclosed porch is a 2 person hot tub to soak out the stiffness on those cold mornings. Sheds in the carport are great little shop spaces, both have power. Handicap ramp in the carport stays for easy access. The carport has been widened so that it is easier to get in and out of the vehicle when you park under cover.

22. 2023-12-29
    status Pending 1404-char remark

    Show marketing remark (1404 chars)

    A view for miles and miles. This home has a wonderful view of the Eel River Valley, Ferndale and beyond. Sit on your covered front porch with glassed in seating so you can enjoy your first cup of coffee on the deck year round. Pop out the Sunsetter Awning if it gets too warm. In the living room you will find big picture windows to enjoy the views from the warmth of the interior. Large combo dining area with Tiffany style lighting and built in cabinets. There is an Air Conditioner mounted in the living room wall to battle those hot Summer days too. The kitchen has a open breakfast bar, updated cabinetry, appliance caddy, trash compactor and a spot for an oversized refrigerator. Seller converted the closet in the family room to an additional pantry for overflow food storage. The 2 bedrooms and 2 bathrooms are very nicely appointed, with nice sized closets and updated windows. The Master bath has a nice glassed in walk-in shower, and additional linen storage. The 8x40 (320 additional sq ft) front porch was completed enclosed and provides ample additional hobby space. In the enclosed porch is a 2 person hot tub to soak out the stiffness on those cold mornings. Sheds in the carport are great little shop spaces, both have power. Handicap ramp in the carport stays for easy access. The carport has been widened so that it is easier to get in and out of the vehicle when you park under cover.

23. 2023-11-20
    listed $170,200 Active 1404-char remark

    Show marketing remark (1404 chars)

    A view for miles and miles. This home has a wonderful view of the Eel River Valley, Ferndale and beyond. Sit on your covered front porch with glassed in seating so you can enjoy your first cup of coffee on the deck year round. Pop out the Sunsetter Awning if it gets too warm. In the living room you will find big picture windows to enjoy the views from the warmth of the interior. Large combo dining area with Tiffany style lighting and built in cabinets. There is an Air Conditioner mounted in the living room wall to battle those hot Summer days too. The kitchen has a open breakfast bar, updated cabinetry, appliance caddy, trash compactor and a spot for an oversized refrigerator. Seller converted the closet in the family room to an additional pantry for overflow food storage. The 2 bedrooms and 2 bathrooms are very nicely appointed, with nice sized closets and updated windows. The Master bath has a nice glassed in walk-in shower, and additional linen storage. The 8x40 (320 additional sq ft) front porch was completed enclosed and provides ample additional hobby space. In the enclosed porch is a 2 person hot tub to soak out the stiffness on those cold mornings. Sheds in the carport are great little shop spaces, both have power. Handicap ramp in the carport stays for easy access. The carport has been widened so that it is easier to get in and out of the vehicle when you park under cover.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥84°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 9 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,905
• − Mortgage interest: −$5,546
• − Property taxes: −$1,485
• − Insurance: −$495
• − Repairs & maintenance: −$1,512
• − Management: −$1,512
• − Depreciation: −$2,880
• Taxable income: $5,474
• Est. tax owed @ 24.0%: −$1,314
• After-tax cash flow: $5,411/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Fortuna Union High
• NCES district ID: 0614190
• Math proficiency: 17% ▼ -10.00%
• Reading proficiency: 44% ▼ -8.00%
• Median HH income: $41,411
• Composite: 25.69/100
• National rank: #7386
• State rank: #350 of 517 in CA

Livability — Fortuna

• Score: 69/100
• State rank: #246
• US rank: #8234

Category grades

Amenities F Commute A- Cost of living F Crime B- Employment D+ Housing C+ Health & safety A+ User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fortuna, CA
• City population: 14,641
• Population (ZIP): 14,641

Population outlook (Humboldt County) Hauer SSP2

• Today (2025): 135,550 people
• By 2030: 134,798 · -0.6%
• By 2040: 132,222 · -2.5%
• By 2050: 130,850 · -3.5%
• By 2075: 128,656 · -5.1%
• By 2100: 120,238 · -11.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 19% Two or more races 12% Asian 3% Native American 3%
• Hispanic origin (detail): Mexican 18%
• Common ancestry: Lithuanian 4% Italian 4% Slovak 3%
• Foreign-born: 12% · Canada, China
• Languages at home: 85% English-only · Spanish 13% Other Indo-European 1% Chinese 1%

Political lean MEDSL · Humboldt

• 2024 margin: Strong D (+28.4) · D 62.0% · R 33.6% · Other 4.5%
• 2008→2024 swing: +0.2pp no change · 2008: 28.2pp · 2024: 28.4pp
• All cycles: 2024: D+28.4 2020: D+33.4 2016: D+25.9 2012: D+26.2 2008: D+28.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -232.72%
• Current HPI: 236.0203
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

-32.4% since first listed

6 events — show timeline

• 2026-04-15 Price Changed $115,000 HAR
• 2026-03-10 Price Changed $119,999 HAR
• 2026-02-28 Listed $149,999 HAR
• 2024-01-22 Sold (MLS) $160,000 HAR
• 2023-12-29 Pending — HAR
• 2023-11-20 Listed $170,200 HAR