270 Bridge Street St

Chester, CA 96020

$239,000D+

4 bd · 1.0 ba · 1,397 sqft · Built 1935 · MultiFamily · Active · 44 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,650/mo
• Mortgage (P&I): −$1,253
• Tax + insurance: −$271
• HOA: −$0
• Vac / Maint / Mgmt: −$346
• Net cashflow: $-221/mo
• Annual: $-2,652/yr
• Cap rate: 5.18%
• Cash-on-cash: -3.96%
• DSCR: 0.82
• 1% rule: 0.69%
• Cash to close: $66,920

Investor read

• This is a 4-bed/1.0-bath multifamily listed at $239k.
• At list price, monthly cash flow is $-221 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $200k (16.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $165k (31.0% below list).
• It's been on market 44 days — a 3% lower offer ($232k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $165k (31.0% below list) — sets the bar for 1% rule.
• In year one you build about $26k of equity ($2k loan paydown + $24k appreciation (10.0% local appreciation)).
• Location reads 60/100 on livability (#581 in CA) — a middle-class / working-renter tenant base. Strengths: housing A+, crime B+; Watch: cost of living D+, amenities F, commute F.
• Plumas Unified (rural): math 21% / reading 44% proficiency, ranked #306 of 517 in CA (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: C. Roy Carmichael Elementary (346 students, 72% FRL); Quincy Junior/Senior High (math 22% / reading 47%, grade F, #618 of 1,170 statewide, top 56%, 340 students, 48% FRL) — zoned schools average 60% FRL vs 41% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 73 active listings in the ZIP; 39 units permitted in Plumas County in 2024 (0 in 5+ unit buildings).
• Plumas County population projected at -42% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $180k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• By year 2, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 44 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
• Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.