1757 Edeline Ave

McKinleyville, CA 95519

$239,000C-

3 bd · 1.0 ba · 1,204 sqft · Built 1954 · SingleFamily · Active · 35 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,028/mo
• Mortgage (P&I): −$1,253
• Tax + insurance: −$227
• HOA: −$0
• Vac / Maint / Mgmt: −$426
• Net cashflow: $122/mo
• Annual: $1,467/yr
• Cap rate: 6.91%
• Cash-on-cash: 2.19%
• DSCR: 1.10
• 1% rule: 0.85%
• Cash to close: $66,920

Investor read

• This is a 3-bed/1.0-bath single-family listed at $239k.
• At list price, monthly cash flow is $122 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $203k (15.1% below list).
• It's been on market 35 days — a 3% lower offer ($232k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $203k (15.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 52/100 on livability (#1,028 in CA) — a working-class tenant base; expect higher turnover. Watch: employment C-, health & safety C-, crime F.
• Mckinleyville Union Elementary (town): math 34% / reading 42% proficiency, ranked #789 of 1,400 in CA (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Morris Elementary (292 students, 59% FRL); Mckinleyville Middle (360 students, 54% FRL); Mckinleyville High (math 10% / reading 50%, grade F, #723 of 1,170 statewide, top 64%, 556 students, 51% FRL).
• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 98 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 188 units permitted in Humboldt County in 2024 (17 in 5+ unit buildings).
• Humboldt County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Cap rate 6.9% vs local median 2.8% in McKinleyville — 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.
• This rent runs 33% of the median local income ($73k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 35 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
• Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?
• 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.
• 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.