1221 E Cypress Ave Spc 309 · Redding, CA 96002

$139,000

2 bd · 2.0 ba · 1,224 sqft · Manufactured · 7 Days on market

Built 1971

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Why this score? — see what drove the C+ 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 +24.7/30.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Schools +4.6/10.0
• Livability +3.8/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Fall in love with this beautifully updated Redding retreat located inside the gated Starlite Mobile Estates, an inviting all-ages community. This upgraded 2-bedroom, 2-bath double-wide offers comfort, style, and thoughtful improvements throughout. Step inside to an open, welcoming layout featuring central heat and air, dual-pane windows, and a remodeled kitchen complete with a stainless steel 5-burner natural gas cooktop, built-in oven with warming drawer, tile backsplash, and abundant custom cabinetry and countertop space. Both bathrooms have been tastefully updated. The guest bath features a tile stall shower, modern cabinet, and countertop. The spacious primary suite includes a walk-in c

Key facts

• Walk-in closet
• Remodeled kitchen
• Tile stall shower

Tags

• REMODELED KITCHEN
• TILE STALL SHOWER
• WALK-IN CLOSET
• UPGRADED PRIVATE BATH
• LARGE COVERED FRONT DECK
• FULLY FENCED BACKYARD

Property features AI

Exterior

• Parking: Carport (1 space)
• Home design: Manufactured in park (mobile home); Located in Starlite park
• Construction: Aluminum siding; Pillar/post/pier foundation; Other roof material
• Exterior features: Deck; Chain link fencing; Level topography; Asphalt road access

Interior

• Kitchen: Convection oven; Cooktop; Oven
• Flooring: Vinyl flooring; Carpet
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Washer and dryer included; Convection oven and cooktop; Standard oven
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $139k.

Deal economics

• At list price, monthly cash flow is $291 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Cap rate 8.8% vs local median 3.3% in Redding — 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 76/100 on livability (#106 in CA, #3,726 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment C-, crime F, cost of living F.
• Shasta Union High (urban): math 41% / reading 67% proficiency, ranked #122 of 517 in CA (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+1.9%/yr); 286 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 246 units permitted in Shasta County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $961 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Shasta County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $139,000

Questions for the listing agent

1. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.14% ✓
• Cap rate: 8.80%
• Cash-on-cash: 8.97%
• DSCR: 1.40
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $74,664
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1221 E Cypress Ave #35	0.00mi	2/2.0	1,340 (+10%)	16mo	$82,000	$61	71
1221 E Cypress Ave #56	0.00mi	2/2.0	1,080 (-12%)	18mo	$56,500	$52	65

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.88% rent growth · sell at horizon

5-year hold

• IRR: -4.0%
• Equity multiple: 0.85×
• Total profit: $-5,740
• Equity at exit: $20,725

10-year hold

• IRR: 4.4%
• Equity multiple: 1.31×
• Total profit: $11,871
• Equity at exit: $12,018

Cash invested: $38,920 (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 96002

• Rents YoY: 1.9%
• Active inventory: 286
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,584 high
• Mortgage (P&I): −$729
• Tax est. 1.5%: −$174 /mo · $2,085/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $291

Break-even live

Break-even rent $1,216

Max offer price $139,000

Occupancy floor 77%

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1295 Downard Ln Apt 5 Redding, CA	2.0	1.0	800	$1,199	$1.50	13d	1	0.17mi
2821 Blue View St Redding, CA	2.0	1.0	1000	$1,595	$1.59	13d	1	0.28mi
1063 Del Sol Pl Unit D Redding, CA	2.0	1.5	941	$1,350	$1.43	13d	1	0.66mi
2351 Victor Ave Redding, CA	2.0	1.5	900	$1,400	$1.56	13d	1	0.68mi
1631 Bramble Pl Unit 1 Redding, CA	2.0	1.0	900	$1,295	$1.44	13d	1	0.73mi
1601 Bramble Pl Unit 4 Redding, CA	2.0	1.0	750	$1,250	$1.67	13d	1	0.74mi
3220 C St Redding, CA	2.0	1.5	886	$1,500	$1.69	13d	1	0.76mi
1933 Wheeler St Redding, CA	3.0	2.0	1242	$2,000	$1.61	13d	1	0.79mi
3512 Adams Ln Unit 8 Redding, CA	2.0	1.0	900	$1,375	$1.53	13d	1	0.91mi
1975 Bechelli Ln Redding, CA	2.0	2.0	1347	$1,850	$1.37	21d	1	0.94mi
1013 Echo Rd Redding, CA	2.0	1.0	768	$1,375	$1.79	13d	1	0.95mi
1006 2nd St Unit A Redding, CA	2.0	1.0	700	$1,175	$1.68	13d	1	1.02mi
712 Kerryjen Ct Unit B Redding, CA	2.0	1.0	850	$1,300	$1.53	21d	1	1.07mi
3629 Bechelli Ln Redding, CA	1.0–2.0	1.0	769	$1,650	$2.15	13d	1	1.12mi
1701 Dana Dr Redding, CA	2.0–3.0	1.5	1070	$1,675	$1.57	13d	1	1.20mi
1580 Dana Dr Unit 3 Redding, CA	2.0	1.5	950	$1,450	$1.53	13d	1	1.26mi
3773 Ricardo Ave Redding, CA	3.0	3.0	1404	$1,995	$1.42	13d	1	1.30mi
3980 Churn Creek Rd Redding, CA	2.0	1.0	755	$1,295	$1.72	13d	1	1.34mi
2510 Hartnell Ave Unit 9 Redding, CA	2.0	1.0	835	$1,380	$1.65	21d	1	1.37mi
3996 Morningsun Dr Redding, CA	3.0	2.0	1384	$1,975	$1.43	13d	1	1.40mi
2155 Park Marina Dr Redding, CA	2.0	1.0	905	$1,400	$1.55	13d	1	1.41mi
1238 Old Alturas Rd Redding, CA	3.0	2.0	1175	$2,350	$2.00	13d	1	1.44mi
1232 Burton Ct Unit 3 Redding, CA	2.0	1.5	900	$1,395	$1.55	13d	1	1.44mi
2604 Wilson Ave Apt 1 Redding, CA	2.0	1.0	800	$1,129	$1.41	13d	1	1.45mi
1233 Bundy Ct Unit 6 Redding, CA	2.0	2.0	1000	$1,595	$1.59	13d	1	1.46mi
1230 Old Alturas Rd Redding, CA	3.0	2.0	1387	$2,350	$1.69	13d	1	1.46mi
1252 Old Alturas Rd Redding, CA	3.0	2.0	1175	$2,250	$1.91	13d	1	1.48mi
1256 Old Alturas Rd Redding, CA	3.0	2.0	1387	$2,350	$1.69	13d	1	1.49mi

Listing history 7 events

1. 2026-06-19
   days on market $139,000 Active 7 DOM
2. 2026-06-18
   days on market $139,000 Active 6 DOM
3. 2026-06-17
   days on market $139,000 Active 5 DOM
4. 2026-06-16
   days on market $139,000 Active 4 DOM
5. 2026-06-15
   days on market $139,000 Active 3 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $139,000 Active 1 DOM

ⓘ 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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 37 unhealthy d/yr today · 40 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,010
• − Mortgage interest: −$7,786
• − Property taxes: −$2,085
• − Insurance: −$695
• − Repairs & maintenance: −$1,521
• − Management: −$1,521
• − Depreciation: −$4,044
• Taxable income: $1,358
• Est. tax owed @ 24.0%: −$326
• After-tax cash flow: $3,164/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: Shasta Union High
• NCES district ID: 0636600
• Math proficiency: 41% ▲ 3.00%
• Reading proficiency: 67% ▲ 9.00%
• Median HH income: $50,080
• Composite: 46.01/100
• National rank: #2532
• State rank: #122 of 517 in CA

Livability — Redding

• Score: 76/100
• State rank: #106
• US rank: #3726

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Redding, CA
• County: Shasta County · 147,641 people
• City population: 112,523
• Metro: Redding, CA
• Population (ZIP): 33,783
• Household income: $73,222
• Rent vs Own: 39.8% rent · 60.2% own
• Severe rent burden: 1026.0

Population outlook (Shasta County) Hauer SSP2

• Today (2025): 179,231 people
• By 2030: 176,953 · -1.3%
• By 2040: 169,982 · -5.2%
• By 2050: 162,547 · -9.3%
• By 2075: 145,649 · -18.7%
• By 2100: 123,025 · -31.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 13% Two or more races 12% Asian 6% Native American 2% Black 1%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Italian 4% Lithuanian 2% Slovak 2%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 4% Other Asian/Pacific 2% Other Indo-European 1%

Political lean MEDSL · Shasta

• 2024 margin: Solid R (+36.5) · D 30.5% · R 67.0% · Other 2.5%
• 2008→2024 swing: -10.7pp toward R · 2008: -25.8pp · 2024: -36.5pp
• All cycles: 2024: R+36.5 2020: R+33.1 2016: R+37.4 2012: R+30.3 2008: R+25.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -248.70%
• Current HPI: 319.713
• Rent YoY: ▲ 1.88%
• Metro: Redding, CA
• 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

1 event — show timeline

• 2026-06-12 Listed $139,000 SAOR