581 Garrett Rd

Hyampom, CA 96046

$447,000C

4 bd · 4.0 ba · 2,452 sqft · Built 2004 · MultiFamily · Active · 146 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,491/mo
• Mortgage (P&I): −$2,344
• Tax + insurance: −$501
• HOA: −$0
• Vac / Maint / Mgmt: −$943
• Net cashflow: $703/mo
• Annual: $8,439/yr
• Cap rate: 8.18%
• Cash-on-cash: 6.74%
• DSCR: 1.30
• 1% rule: 1.00%
• Cash to close: $125,160

Investor read

• This is a 4 × 4-bed/1.0-bath units multifamily listed at $447k.
• At list price, monthly cash flow is $703 ($8k/yr) — positive. Per door: $176/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $447k).
• It's been on market 146 days — a 12% lower offer ($393k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $393k (12.0% below list) — sets the bar for market timing.
• In year one you build about $16k of equity ($3k loan paydown + $13k appreciation (3.0% local appreciation)).
• Location reads 34/100 on livability (#1,446 in CA) — a limited-amenity area; tenant pool skews transient or value-seeking. Strengths: crime A; Watch: health & safety C-, schools F, amenities F.
• Mountain Valley Unified (rural): math 40% / reading 40% proficiency, ranked #788 of 1,400 in CA (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 13 active listings in the ZIP; 21 units permitted in Trinity County in 2024 (0 in 5+ unit buildings).
• Trinity County population projected at -38% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $190k; list at $447k implies a 135% gain — meaningful room to come down on a strong offer.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $125k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 9→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 146 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.