1800 South Main St #23 · Lakeport, CA 95453

$159,500

2 bd · 2.0 ba · 1,368 sqft · Other · 4 Days on market

Built 1974

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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 +28.2/30.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

great channel front home in a beautiful senior park. Fish from your private dock or just jump on your pontoon boat and cruise Beautiful Clearlake with all its water sports and wildlife. Great community, close to shopping and dining, pool, club house for those neighborhood gatherings with friends. home feature's brand new composition roof, ceiling fans, split unit heating and cooling, open floor plan covered patio, shop or storage building. easy living on the water come enjoy you deserve it !! great price point.

Key facts

• Mini-split system
• New exterior paint
• New interior paint

Tags

• NEW EXTERIOR PAINT
• NEW INTERIOR PAINT
• LIFEPROOF LVP FLOORING
• GRANITE COUNTERTOPS
• MINI-SPLIT SYSTEM
• UPGRADED MAIN ELECTRICAL PANEL

Property features AI

Finance

• Other: Manager approval required for multi-unit (double body); Pets allowed with breed restrictions
• Financial info: Land lease (amount listed)
• HOA & community: Senior community; Park name: Lagoons; Community amenities include gutters, curbs, watersports, horse trails, golf course, biking, hiking, fishing, lake, street lighting, sidewalks, park

Exterior

• Parking: Attached carport (1 space); Driveway level access
• Security: Carbon monoxide detector(s); Smoke detector
• Utilities: Public/district water; Public sewer; sewer connected; Water connected; Cable available
• Home design: Single-story; Entry from carport; Turnkey condition; Mobile home remains (24' x 60'); Has a view
• Construction: Wood construction; Composition roof; Pillar/post/pier foundation; 1 shed
• Exterior features: Covered concrete patio; Private dock; In-ground association pool; Wire and wood fencing; Shop; Storage building; Lot is level/flat; Lake on lot; Lot includes dock; Canal/channel frontage; Fishing in community

Interior

• Kitchen: Garbage disposal; Microwave; Built-in range; Dishwasher; Electric stove; Granite counters
• Bedrooms: All bedrooms on ground level; Primary bedroom on main floor
• Flooring: Laminated flooring
• Bathrooms: 2 full bathrooms; Walk-in shower
• Heating & cooling: Ductless heating; Ductless cooling
• Interior features: Ceiling fan; Storage space; Granite counters; Double pane windows with blinds; Carbon monoxide and smoke detectors; No interior steps; Grab bars in bathroom(s)
• Laundry & utility: Inside laundry; Washer included; Dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $160k.

Deal economics

• At list price, monthly cash flow is $506 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Cap rate 10.1% vs local median 3.1% in Lakeport — 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 54/100 on livability (#925 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A; Watch: health & safety C-, schools D+, employment D+.
• Lakeport Unified (town): math 13% / reading 30% proficiency, ranked #451 of 517 in CA (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 150 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 107 units permitted in Lake County in 2024 (40 in 5+ unit buildings).
• This rent runs 34% of the median local income ($71k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Lake County population projected at -15% 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 $45k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 19y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $112k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $159,500

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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 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: 1.28% ✓
• Cap rate: 10.10%
• Cash-on-cash: 13.60%
• DSCR: 1.60
• GRM: 6.5

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: 3.7%
• Equity multiple: 1.14×
• Total profit: $6,411
• Equity at exit: $23,782

10-year hold

• IRR: 13.2%
• Equity multiple: 2.06×
• Total profit: $47,203
• Equity at exit: $13,791

Cash invested: $44,660 (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 95453

• Active inventory: 150
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $2,036 high
• Mortgage (P&I): −$836
• Tax est. 1.5%: −$199 /mo · $2,392/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$428
• Net cashflow: $506

Break-even live

Break-even rent $1,395

Max offer price $159,500

Occupancy floor 70%

Sensitivity live

Price	-10% $616	-5% $561	+0% $506	+5% $451	+10% $396
Rent	-10% $345	-5% $426	+0% $506	+5% $586	+10% $667
Rate	-1.0pp $586	-0.5pp $547	base $506	+0.5pp $465	+1.0pp $423

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: $39,875
• Closing costs: $4,785
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
300 Grace Ln Lakeport, CA	2.0	2.0	1200	$2,500	$2.08	45d	1	0.23mi
10 Royale Ave Lakeport, CA	2.0–3.0	2.0	1475	$1,800	$1.22	45d	3	0.24mi
10 Royale Ave #21 Lakeport, CA	2.0	2.0	1225	$2,195	$1.79	45d	1	0.24mi
10 Royale Ave #17 Lakeport, CA	2.0	2.0	1221	$2,100	$1.72	45d	1	0.24mi
595 9th St Lakeport, CA	3.0	2.5	1596	$1,900	$1.19	45d	1	1.18mi

Listing history 4 events

1. 2026-06-21
   days on market $159,500 Active 4 DOM
2. 2026-06-19
   days on market $159,500 Active 2 DOM
3. 2026-06-17
   remarks 687-char remark
4. 2026-06-17
   listed $159,500 Active 1 DOM

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 28 unhealthy d/yr today · 29 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,429
• − Mortgage interest: −$8,934
• − Property taxes: −$2,392
• − Insurance: −$798
• − Repairs & maintenance: −$1,954
• − Management: −$1,954
• − Depreciation: −$4,640
• Taxable income: $3,756
• Est. tax owed @ 24.0%: −$901
• After-tax cash flow: $5,170/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: Lakeport Unified
• NCES district ID: 0620670
• Math proficiency: 13% ▼ -8.00%
• Reading proficiency: 30% ▲ 1.00%
• Median HH income: $44,332
• Composite: 18.55/100
• National rank: #8912
• State rank: #451 of 517 in CA

Livability — Lakeport

• Score: 54/100
• State rank: #925
• US rank: #24236

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lakeport, CA
• County: Lake County · 24,333 people
• City population: 11,741
• Metro: Clearlake, CA
• Population (ZIP): 11,741
• Household income: $71,419
• Rent vs Own: 21.8% rent · 78.2% own
• Severe rent burden: 250.0

Population outlook (Lake County) Hauer SSP2

• Today (2025): 62,396 people
• By 2030: 60,626 · -2.8%
• By 2040: 56,453 · -9.5%
• By 2050: 53,054 · -15.0%
• By 2075: 47,663 · -23.6%
• By 2100: 41,804 · -33.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 14% Two or more races 9% Native American 5% Asian 1%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Italian 3% Slovak 3% Romanian 2%
• Foreign-born: 6% · Canada
• Languages at home: 89% English-only · Spanish 9% Other Indo-European 1%

Political lean MEDSL · Lake

• 2024 margin: Toss-up / Even · D 47.8% · R 49.2% · Other 3.0%
• 2008→2024 swing: -20.6pp toward R · 2008: 19.3pp · 2024: -1.4pp
• All cycles: 2024: R+1.4 2020: D+6.3 2016: D+3.7 2012: D+16.5 2008: D+19.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -176.01%
• Current HPI: 155.5391
• Rent YoY: —
• Metro: Clearlake, 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

+67.9% since first listed

11 events — show timeline

• 2026-06-17 Listed $159,500 CRMLS
• 2025-08-15 Sold (MLS) $112,000 CRMLS
• 2025-08-15 Sold (MLS) $112,000 BAREIS
• 2025-08-13 Price Changed $124,900 CRMLS
• 2025-08-13 Price Changed $124,900 BAREIS
• 2025-08-11 Pending — BAREIS
• 2025-07-24 Contingent — CRMLS
• 2025-05-02 Listed $129,900 BAREIS
• 2025-05-01 Listed $129,900 CRMLS
• 2008-09-12 Sold (MLS) $90,000 CRMLS
• 2007-11-12 Listed $95,000 CRMLS

Property tax history

+2.6%/yr

Latest (2025): $237 · +5.8% YoY. Source: county tax records.