4246 2nd Ave · North Lakeport, CA 95453

$149,000

3 bd · 2.0 ba · 924 sqft · Land · 32 Days on market

Built 1982 3,920 sqft lot $15/mo HOA · 1% of rent

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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 +28.6/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Great opportunity to own a home in Lakeport Ca. 1982 Manufactured home with living space 924 sq ft. This home features 3 bedrooms, 2 bathrooms. One full bathroom and one 3/4 bathroom with a walk-in shower. Hand-i-cap accessible ramp, covered carport and fenced yard. Some landscaping in front yard, end of the street with a private feel. Storage shed in back yard. Enclosed porch to relax and great for those morning cups of coffee. Separate laundry room with washer and dryer included. Larger bedroom at one end of the home with a 3/4 bathroom featuring a walk-in shower and large vanity. 2 more bedrooms at the opposite side of the home with a full bathroom. Large living room open to kitchen. Kit

Key facts

• Fenced yard
• Covered carport
• Storage shed

Tags

• HANDICAP ACCESSIBLE RAMP
• COVERED CARPORT
• FENCED YARD
• STORAGE SHED
• ENCLOSED PORCH
• SEPARATE LAUNDRY ROOM

Property features AI

Finance

• Other: Assessments: Unknown
• HOA & community: Part of an association (annual fee of $174); Association amenities: contact for rules; Community features include lake access and fishing

Exterior

• Parking: Covered parking; Attached carport; Driveway; Two parking/carport spaces total
• Security: Carbon monoxide detector(s); Smoke detector
• Utilities: Public/district water; Public sewer; Electricity connected
• Home design: Single-story; Entry level: 1; No shared/common walls; Property condition: needs cosmetic repairs; No ADU
• Construction: Pillar/post/pier foundation with pier jacks
• Exterior features: Manufactured house; Shingle roof; Screened, enclosed porch; Shed; Wood fencing; Back yard; Lot is level/flat; Has a view; Ramp to main level (accessibility)

Interior

• Kitchen: Garbage disposal; Refrigerator; Propane range; Formal dining room
• Bedrooms: One bedroom on the main level
• Flooring: Carpet
• Bathrooms: One full bathroom; One three-quarter bathroom; Showers and tub/shower combinations
• Heating & cooling: Central furnace heating; Wall or window cooling
• Interior features: Sliding glass doors; Panel doors; Side entry; One-level home; Carbon monoxide detector(s); Smoke detector; Window screens; Main level has one bedroom and one bathroom
• Laundry & utility: Laundry area inside the home; 220V in laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $149k.

Deal economics

• At list price, monthly cash flow is $493 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• Recommended offer: $145k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 2.7% in North Lakeport — 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 56/100 on livability (#808 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: health & safety D+, schools F, amenities F.
• Lakeport Unified (town): math 13% / reading 30% proficiency, ranked #451 of 517 in CA (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 150 active listings in the ZIP; 107 units permitted in Lake County in 2024 (40 in 5+ unit buildings).
• This rent runs 31% of the median local income ($71k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Lake County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $144,530 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.23% ✓
• Cap rate: 10.26%
• Cash-on-cash: 14.18%
• DSCR: 1.63
• GRM: 6.8

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: 4.5%
• Equity multiple: 1.17×
• Total profit: $7,236
• Equity at exit: $22,216

10-year hold

• IRR: 13.9%
• Equity multiple: 2.12×
• Total profit: $46,653
• Equity at exit: $12,883

Cash invested: $41,720 (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 95453

• Active inventory: 150
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,829 medium
• Mortgage (P&I): −$781
• Tax from tax record: −$93 /mo · $1,121/yr
• Insurance: −$62
• HOA: −$15
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $493

Break-even live

Break-even rent $1,205

Max offer price $149,000

Occupancy floor 68%

Sensitivity live

Price	-10% $577	-5% $535	+0% $493	+5% $451	+10% $409
Rent	-10% $349	-5% $421	+0% $493	+5% $565	+10% $638
Rate	-1.0pp $568	-0.5pp $531	base $493	+0.5pp $454	+1.0pp $415

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $15 · $180/yr
• Likely covers: landscaping

Listing history 18 events

1. 2026-06-21
   days on market $149,000 Active 32 DOM
2. 2026-06-19
   days on market $149,000 Active 30 DOM
3. 2026-06-18
   days on market $149,000 Active 29 DOM
4. 2026-06-17
   days on market $149,000 Active 28 DOM
5. 2026-06-16
   days on market $149,000 Active 27 DOM
6. 2026-06-15
   days on market $149,000 Active 26 DOM
7. 2026-06-14
   days on market $149,000 Active 24 DOM
8. 2026-06-12
   days on market $149,000 Active 23 DOM
9. 2026-06-09
   days on market $149,000 Active 20 DOM
10. 2026-06-08
    days on market $149,000 Active 19 DOM
11. 2026-06-07
    days on market $149,000 Active 18 DOM
12. 2026-06-05
    days on market $149,000 Active 15 DOM
13. 2026-06-03
    days on market $149,000 Active 14 DOM
14. 2026-06-02
    days on market $149,000 Active 13 DOM
15. 2026-06-01
    days on market $149,000 Active 12 DOM
16. 2026-05-31
    days on market $149,000 Active 11 DOM
17. 2026-05-30
    days on market $149,000 Active 10 DOM
18. 2026-05-20
    listed $149,000 Active

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

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $1,121 · $93/mo
• Projected year-2 tax: $1,132 · $94/mo
• Expected delta: +$11/yr (+$1/mo · 1.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 6/10 Major 7 d/yr ≥102°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 34 unhealthy d/yr today · 36 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,948
• − Mortgage interest: −$8,346
• − Property taxes: −$1,121
• − Insurance: −$745
• − Repairs & maintenance: −$1,756
• − Management: −$1,756
• − HOA: −$180
• − Depreciation: −$4,335
• Taxable income: $3,709
• Est. tax owed @ 24.0%: −$890
• After-tax cash flow: $5,026/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: Lakeport Unified
• NCES district ID: 0620670
• Math proficiency: 13% ▼ -8.00%
• Reading proficiency: 30% ▲ 1.00%
• Median HH income: $44,332
• Composite: 18.55/100
• National rank: #8912
• State rank: #451 of 517 in CA

Livability — North Lakeport

• Score: 56/100
• State rank: #808
• US rank: #22865

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Lakeport, CA
• County: Lake County · 24,333 people
• Metro: Clearlake, CA
• Population (ZIP): 11,741
• Household income: $71,419
• Rent vs Own: 21.8% rent · 78.2% own
• Severe rent burden: 250.0

Population outlook (Lake County) Hauer SSP2

• Today (2025): 62,396 people
• By 2030: 60,626 · -2.8%
• By 2040: 56,453 · -9.5%
• By 2050: 53,054 · -15.0%
• By 2075: 47,663 · -23.6%
• By 2100: 41,804 · -33.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 14% Two or more races 9% Native American 5% Asian 1%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Italian 3% Slovak 3% Romanian 2%
• Foreign-born: 6% · Canada
• Languages at home: 89% English-only · Spanish 9% Other Indo-European 1%

Political lean MEDSL · Lake

• 2024 margin: Toss-up / Even · D 47.8% · R 49.2% · Other 3.0%
• 2008→2024 swing: -20.6pp toward R · 2008: 19.3pp · 2024: -1.4pp
• All cycles: 2024: R+1.4 2020: D+6.3 2016: D+3.7 2012: D+16.5 2008: D+19.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -176.01%
• Current HPI: 155.5391
• Rent YoY: —
• Metro: Clearlake, 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

• 2026-05-20 Listed $149,000 CRMLS

Property tax history

+1.7%/yr

Latest (2025): $1,121 · +2.7% YoY. Source: county tax records.