1515 5th St · Eureka, CA 95501

$310,000

None bd · 2.0 ba · 2,184 sqft · MultiFamily · 237 Days on market

Built 1935 3,049 sqft lot Est $463k · 33% under ↓ 11% since listing

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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 +22.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.1/10.0
• 1% rule +5.8/10.0
• Rent growth +3.2/5.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Commercial building with attached, 2-unit, ADU. Very high visibility/traffic location with street frontage. The off street parking is easily accessible from Highway 101 North and South (4th st & 5th st). The commercial space is approximately 1000sqft with multiple entrances, storage and currently plumbed for two bathrooms, The attached ADU's consist of a downstairs studio and a 1bed/1bath upstairs. Bring your vision and ideas as there is a multitude of possibilities here. Includes two parcels-APN 001-224-017 and APN 001-224-018

Key facts

• 1bed 1bath upstairs
• Off street parking
• Downstairs studio

Tags

• ATTACHED ADU
• HIGH VISIBILITY LOCATION
• OFF STREET PARKING
• MULTIPLE ENTRANCES
• DOWNSTAIRS STUDIO
• 1BED 1BATH UPSTAIRS

Property features AI

Exterior

• Home design: Multi-family residential income property; Two levels / 2 stories
• Construction: Zoned commercial
• Exterior features: Sidewalks

Interior

• Bathrooms: 2 half bathrooms
• Interior features: Has view

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/1.0-bath units multifamily listed at $310k.

Deal economics

• At list price, monthly cash flow is $507 ($6k/yr) — positive. Per door: $253/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $310k).
• Recommended offer: $273k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 3.0% in Eureka — 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 59/100 on livability (#630 in CA) — a working-class tenant base; expect higher turnover. Strengths: health & safety A+, amenities A-; Watch: crime F, commute F, employment F.
• Eureka City Schools (town): math 19% / reading 29% proficiency, ranked #435 of 517 in CA (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+2.6%/yr); 101 active listings in the ZIP; 188 units permitted in Humboldt County in 2024 (17 in 5+ unit buildings).
• At $3,353/mo this rent would consume 74% of the median local household income ($54k/yr) (locally 1826% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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.

Negotiation context

• It's been on market 237 days — a 12% lower offer ($273k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $38k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $272,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 237 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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.

Investment metrics

• 1% rule: 1.08% ✓
• Cap rate: 8.25%
• Cash-on-cash: 7.00%
• DSCR: 1.31
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $463,008
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1141 Cousins St	0.48mi	5/3.0	2,509 (+15%)	0mo	$531,000	$212	49

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 · 2.61% rent growth · sell at horizon

5-year hold

• IRR: -6.0%
• Equity multiple: 0.78×
• Total profit: $-19,232
• Equity at exit: $46,222

10-year hold

• IRR: 3.2%
• Equity multiple: 1.23×
• Total profit: $19,664
• Equity at exit: $26,803

Cash invested: $86,800 (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 95501

• Rents YoY: 2.6%
• Active inventory: 101
• Price-to-rent: 15.4×

Monthly cashflow live

• Estimated rent: $3,353 medium
• Mortgage (P&I): −$1,626
• Tax est. 1.5%: −$388 /mo · $4,650/yr
• Insurance: −$129
• HOA: −$0
• Vacancy / Maint / Mgmt: −$704
• Net cashflow: $507

Break-even live

Break-even rent $2,712

Max offer price $310,000

Occupancy floor 80%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$3,352
Total (2 units)			$3,353

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: $77,500
• Closing costs: $9,300
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-19
   days on market $310,000 Active 237 DOM
2. 2026-06-18
   days on market $310,000 Active 236 DOM
3. 2026-06-17
   days on market $310,000 Active 235 DOM
4. 2026-06-16
   days on market $310,000 Active 234 DOM
5. 2026-06-15
   days on market $310,000 Active 233 DOM
6. 2026-06-14
   days on market $310,000 Active 231 DOM
7. 2026-06-13
   days on market $310,000 Active 230 DOM
8. 2026-06-10
   days on market $310,000 Active 228 DOM
9. 2026-06-09
   days on market $310,000 Active 227 DOM
10. 2026-06-08
    days on market $310,000 Active 226 DOM
11. 2026-06-07
    days on market $310,000 Active 225 DOM
12. 2026-06-05
    days on market $310,000 Active 222 DOM
13. 2026-06-03
    days on market $310,000 Active 221 DOM
14. 2026-06-02
    days on market $310,000 Active 220 DOM
15. 2026-06-01
    days on market $310,000 Active 219 DOM
16. 2026-05-31
    days on market $310,000 Active 218 DOM
17. 2026-05-30
    days on market $310,000 Active 217 DOM
18. 2026-04-29
    status Active
19. 2026-04-13
    price $310,000
20. 2026-01-26
    status Active
21. 2025-11-03
    price $330,000
22. 2025-10-24
    listed $348,000 Active
23. 2025-07-24
    listed $348,000 Active

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

Taxation est. · year 1

• Rental income: $40,236
• − Mortgage interest: −$17,365
• − Property taxes: −$4,650
• − Insurance: −$1,550
• − Repairs & maintenance: −$3,219
• − Management: −$3,219
• − Depreciation: −$9,018
• Taxable income: $1,215
• Est. tax owed @ 24.0%: −$292
• After-tax cash flow: $5,787/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: Eureka City Schools
• NCES district ID: 0600052
• Math proficiency: 19% ▼ -6.00%
• Reading proficiency: 29% ▼ -5.00%
• Median HH income: $39,249
• Composite: 20.16/100
• National rank: #8633
• State rank: #435 of 517 in CA

Livability — Eureka

• Score: 59/100
• State rank: #630
• US rank: #19902

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eureka, CA
• County: Humboldt County · 88,652 people
• City population: 47,944
• Metro: Eureka-Arcata, CA
• Population (ZIP): 22,890
• Household income: $54,137
• Rent vs Own: 59.0% rent · 41.0% own
• Severe rent burden: 1826.0

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 (67%)
• Race & ethnicity: White 67% Hispanic / Latino 14% Two or more races 12% Asian 5% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Slovak 4% Lithuanian 3% Italian 2%
• Foreign-born: 8% · Canada, China
• Languages at home: 86% English-only · Spanish 9% Other Asian/Pacific 2% Other Indo-European 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: ▼ -279.38%
• Current HPI: 236.9255
• Rent YoY: ▲ 2.61%
• Metro: Eureka-Arcata, 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

-10.9% since first listed

6 events — show timeline

• 2026-04-29 Relisted — HAR
• 2026-04-13 Price Changed $310,000 HAR
• 2026-01-26 Relisted — HAR
• 2025-11-03 Price Changed $330,000 HAR
• 2025-10-24 Listed $348,000 HAR
• 2025-07-24 Listed $348,000 HAR