18355 Benson Rd · Cottonwood, CA 96022

$129,900

2 bd · 2.0 ba · 1,152 sqft · Manufactured public records · 235 Days on market

Built 1974 1.48 ac lot ↓ 13% since listing

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Why this score? — see what drove the B- 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• Schools +3.5/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Cash-Only Opportunity - 1.48 Acres with Pine Creek Access Discover the potential in this 1.48-acre property featuring a 1974 mobile home. Due to it's condition it will not qualify for traditional financing — cash buyers only. Value lies primarily in the land and existing utilities, including septic system, private well, and electricity already in place. Enjoy direct access to Pine Creek, offering a peaceful natural setting perfect for outdoor enthusiasts or those looking to build their dream getaway. With infrastructure ready to go, this is a great opportunity to replace the existing structure or renovate to your liking. If you're looking for a rural property with water access and

Key facts

• Existing utilities
• Electricity
• Private well

Tags

• 1.48 ACRES
• PINE CREEK ACCESS
• EXISTING UTILITIES
• SEPTIC SYSTEM
• PRIVATE WELL
• ELECTRICITY

Property features AI

Finance

• Other: Property sits on 1.48 acres; Additional parcel: 006-080-029-000

Exterior

• Parking: RV access/parking
• Home design: Manufactured in-park (mobile home); Fleetwood model
• Construction: Aluminum siding
• Exterior features: Asphalt road access; Has a view

Interior

• Flooring: Carpet
• Heating & cooling: Central air conditioning; Heating present
• Interior features: Carpet flooring; Has central air conditioning; Has heating

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $130k.

Deal economics

• At list price, monthly cash flow is $554 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.4% vs local median 2.9% in Cottonwood — 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 62/100 on livability (#476 in CA) — a middle-class / working-renter tenant base. Strengths: housing A+, employment B+; Watch: schools D+, crime D, amenities F.
• Evergreen Union (rural): math 33% / reading 49% proficiency, ranked #226 of 517 in CA (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 274 active listings in the ZIP; 186 units permitted in Tehama County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Tehama County population projected at -14% 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 $36k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 235 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $114,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 235 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
6. Crime grade is D 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?
7. 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.
8. 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.
9. 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: 1.41% ✓
• Cap rate: 11.41%
• Cash-on-cash: 18.27%
• DSCR: 1.81
• GRM: 5.9

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: 9.9%
• Equity multiple: 1.39×
• Total profit: $14,256
• Equity at exit: $19,369

10-year hold

• IRR: 19.1%
• Equity multiple: 2.59×
• Total profit: $57,952
• Equity at exit: $11,231

Cash invested: $36,372 (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 96022

• Home prices YoY: -12.9%
• Active inventory: 274
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,837 medium
• Mortgage (P&I): −$681
• Tax est. 1.5%: −$162 /mo · $1,948/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$386
• Net cashflow: $554

Break-even live

Break-even rent $1,136

Max offer price $129,900

Occupancy floor 65%

Sensitivity live

Price	-10% $644	-5% $599	+0% $554	+5% $509	+10% $464
Rent	-10% $409	-5% $481	+0% $554	+5% $626	+10% $699
Rate	-1.0pp $619	-0.5pp $587	base $554	+0.5pp $520	+1.0pp $486

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $129,900 Active 235 DOM
2. 2026-06-19
   days on market $129,900 Active 233 DOM
3. 2026-06-18
   days on market $129,900 Active 232 DOM
4. 2026-06-17
   days on market $129,900 Active 231 DOM
5. 2026-06-16
   days on market $129,900 Active 230 DOM
6. 2026-06-15
   days on market $129,900 Active 229 DOM
7. 2026-06-14
   days on market $129,900 Active 227 DOM
8. 2026-06-12
   days on market $129,900 Active 226 DOM
9. 2026-06-09
   days on market $129,900 Active 223 DOM
10. 2026-06-08
    days on market $129,900 Active 222 DOM
11. 2026-06-07
    days on market $129,900 Active 221 DOM
12. 2026-06-05
    days on market $129,900 Active 218 DOM
13. 2026-06-03
    days on market $129,900 Active 217 DOM
14. 2026-06-02
    days on market $129,900 Active 216 DOM
15. 2026-06-01
    days on market $129,900 Active 215 DOM
16. 2026-05-31
    days on market $129,900 Active 214 DOM
17. 2026-05-30
    days on market $129,900 Active 213 DOM
18. 2026-02-27
    price $129,900
19. 2026-01-12
    price $139,900
20. 2025-10-28
    listed $149,900 Active

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 8/10 Severe 7 d/yr ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 34 unhealthy d/yr today · 37 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,050
• − Mortgage interest: −$7,276
• − Property taxes: −$1,948
• − Insurance: −$650
• − Repairs & maintenance: −$1,764
• − Management: −$1,764
• − Depreciation: −$3,779
• Taxable income: $4,868
• Est. tax owed @ 24.0%: −$1,168
• After-tax cash flow: $5,478/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: Evergreen Union
• NCES district ID: 0613170
• Math proficiency: 33% ▼ -8.00%
• Reading proficiency: 49% ▼ -3.00%
• Median HH income: $49,783
• Composite: 35.24/100
• National rank: #4978
• State rank: #226 of 517 in CA

Livability — Cottonwood

• Score: 62/100
• State rank: #476
• US rank: #16162

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 16,497

Population outlook (Tehama County) Hauer SSP2

• Today (2025): 61,058 people
• By 2030: 59,493 · -2.6%
• By 2040: 56,076 · -8.2%
• By 2050: 52,372 · -14.2%
• By 2075: 43,895 · -28.1%
• By 2100: 34,186 · -44.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 11% Two or more races 11% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Lithuanian 5% Slovak 4% Portuguese 3%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · Spanish 3% Other Indo-European 2% Other Asian/Pacific 1%

Political lean MEDSL · Tehama

• 2024 margin: Solid R (+41.8) · D 27.9% · R 69.7% · Other 2.3%
• 2008→2024 swing: -17.7pp toward R · 2008: -24.1pp · 2024: -41.8pp
• All cycles: 2024: R+41.8 2020: R+35.6 2016: R+36.8 2012: R+27.4 2008: R+24.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -54.22%
• Current HPI: 364.3174
• 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

-13.3% since first listed

3 events — show timeline

• 2026-02-27 Price Changed $129,900 SAOR
• 2026-01-12 Price Changed $139,900 SAOR
• 2025-10-28 Listed $149,900 SAOR

Property tax history

+4.7%/yr

Latest (2025): $191 · +2.0% YoY. Source: county tax records.