692-685 Lahonton Heights Dr · Stones Landing, CA 96130

$185,000

2 bd · 1.0 ba · 952 sqft · SingleFamily public records · 306 Days on market

Built 1985 0.31 ac lot

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Why this score? — see what drove the D- 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 +12.2/30.0
• ARV discount +7.5/15.0
• DSCR +3.6/10.0
• Schools +2.6/10.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming home in the desirable Stones Landing community at Eagle Lake! This property offers two bedrooms and a full bath on the main level, plus an additional bedroom/game room downstairs along with laundry hookups. The lower level also includes a one-car garage (dirt floor) and a large cemented space that could be converted into additional living quarters, workshop, or storage. Enjoy evenings under the stars on the spacious covered deck, perfect for outdoor entertaining. Situated on a corner lot with some landscaping, this home provides both privacy and potential. Located in the beautiful Eagle Lake recreational area, where you’ll find hiking, biking, off-road trails, boating, and wo

Key facts

• Covered deck
• Landscaping
• Biking

Tags

• COVERED DECK
• CORNER LOT
• LANDSCAPING
• EAGLE LAKE RECREATIONAL AREA
• HIKING
• BIKING

Property features AI

Exterior

• Parking: Garage (1 space)
• Security: Smoke detectors
• Utilities: Public sewer; Septic tank
• Home design: Single-family residence; 2 stories
• Construction: Composition roof
• Exterior features: Deck; Fenced yard; Outbuilding; Corner lot; Level lot; Unimproved road frontage

Interior

• Kitchen: Electric range; Electric oven; Microwave; Refrigerator
• Flooring: Carpet; Tile
• Heating & cooling: Wood stove heating; Baseboard heating; Ceiling fans; Wall/window air conditioning units
• Interior features: Vaulted ceilings; Window coverings; Living room fireplace
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $-38 ($-458/yr) — negative.
• To cash-flow at today's rent, offer at most $178k (3.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $139k (24.9% below list).
• Recommended offer: $139k (24.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Susanville Elementary (town): math 27% / reading 32% proficiency, ranked #350 of 517 in CA (top 68%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Mckinley Elementary (413 students, 63% FRL); Diamond View Middle (math 24% / reading 34%, grade F, #224 of 498 statewide, top 46%, 303 students, 65% FRL); Lassen High (math 12% / reading 47%, grade F, #750 of 1,170 statewide, top 66%, 820 students, 33% FRL).
• Market conditions: 240 active listings in the ZIP; 6 units permitted in Lassen County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Lassen County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 306 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $138,888 (24.9% below list)

Questions for the listing agent

1. 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?
2. It's been on market 306 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.75% ✗
• Cap rate: 6.05%
• Cash-on-cash: -0.88%
• DSCR: 0.96
• GRM: 11.1

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: -17.8%
• Equity multiple: 0.37×
• Total profit: $-32,478
• Equity at exit: $27,584

10-year hold

• IRR: -10.0%
• Equity multiple: 0.39×
• Total profit: $-31,686
• Equity at exit: $15,995

Cash invested: $51,800 (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 96130

• Active inventory: 240
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $1,389 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$88 /mo · $1,058/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $-38

Break-even live

Break-even rent $1,437

Max offer price $178,252

Occupancy floor 98%

Sensitivity live

Price	-10% $67	-5% $14	+0% $-38	+5% $-91	+10% $-143
Rent	-10% $-148	-5% $-93	+0% $-38	+5% $17	+10% $72
Rate	-1.0pp $55	-0.5pp $9	base $-38	+0.5pp $-86	+1.0pp $-135

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-22
   days on market $185,000 Active 306 DOM
2. 2026-06-21
   days on market $185,000 Active 305 DOM
3. 2026-06-19
   days on market $185,000 Active 303 DOM
4. 2026-06-18
   days on market $185,000 Active 302 DOM
5. 2026-06-17
   days on market $185,000 Active 301 DOM
6. 2026-06-16
   days on market $185,000 Active 300 DOM
7. 2026-06-15
   days on market $185,000 Active 299 DOM
8. 2026-06-14
   days on market $185,000 Active 297 DOM
9. 2026-06-12
   days on market $185,000 Active 296 DOM
10. 2026-06-09
    days on market $185,000 Active 293 DOM
11. 2026-06-08
    days on market $185,000 Active 292 DOM
12. 2026-06-07
    days on market $185,000 Active 291 DOM
13. 2026-06-07
    days on market $185,000 Active 290 DOM
14. 2026-06-04
    days on market $185,000 Active 287 DOM
15. 2026-06-02
    days on market $185,000 Active 286 DOM
16. 2026-06-01
    days on market $185,000 Active 285 DOM
17. 2026-05-31
    days on market $185,000 Active 284 DOM
18. 2026-05-31
    days on market $185,000 Active 283 DOM
19. 2025-08-19
    listed $185,000 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: $1,058 · $88/mo
• Projected year-2 tax: $1,406 · $117/mo
• Expected delta: +$348/yr (+$29/mo · 32.9%)

ⓘ 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 6/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥89°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 22 unhealthy d/yr today · 26 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,667
• − Mortgage interest: −$10,363
• − Property taxes: −$1,058
• − Insurance: −$925
• − Repairs & maintenance: −$1,333
• − Management: −$1,333
• − Depreciation: −$5,382
• Taxable loss: −$3,728
• Est. tax savings @ 24.0%: +$895
• After-tax cash flow: $436/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: Susanville Elementary
• NCES district ID: 0638550
• Math proficiency: 27% ▼ -6.00%
• Reading proficiency: 32% ▬ 0.00%
• Median HH income: $49,068
• Composite: 25.69/100
• National rank: #7387
• State rank: #350 of 517 in CA

Livability — Stones Landing

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Stones Landing, CA
• Population (ZIP): 20,892

Population outlook (Lassen County) Hauer SSP2

• Today (2025): 27,112 people
• By 2030: 26,732 · -1.4%
• By 2040: 25,536 · -5.8%
• By 2050: 23,262 · -14.2%
• By 2075: 18,620 · -31.3%
• By 2100: 14,679 · -45.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 57% Hispanic / Latino 26% Two or more races 17% Black 9% Native American 2% Pacific Islander 1% Asian 1%
• Hispanic origin (detail): Mexican 23%
• Common ancestry: Iranian 2% Lithuanian 2% Slovak 2%
• Foreign-born: 5% · Canada
• Languages at home: 80% English-only · Spanish 16% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · Lassen

• 2024 margin: Solid R (+54.0) · D 21.8% · R 75.8% · Other 2.4%
• 2008→2024 swing: -19.8pp toward R · 2008: -34.2pp · 2024: -54.0pp
• All cycles: 2024: R+54.0 2020: R+51.5 2016: R+51.3 2012: R+39.8 2008: R+34.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -126.12%
• Current HPI: 136.1585
• Rent YoY: —
• Metro: —
• 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

• 2025-08-19 Listed $185,000 LAORMLS

Property tax history

-3.9%/yr

Latest (2020): $1,058 · +1.0% YoY. Source: county tax records.