4809 Hardwood Blvd #122 · Redding, CA 96003

$79,000

2 bd · 2.0 ba · 934 sqft · Manufactured public records · 31 Days on market

Built 1990 Est $61k · 30% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

THE REDWOODS - a Five Star Senior Park. Enjoy your morning coffee on the front porch deck overlooking a mountain view. 1990 charmer with a split floor plan. Living room with high ceilings. Modern kitchen. Spacious master bedroom. Indoor laundry. 3 car covered carport. Greenbelt at the rear. Space rent includes water, sewer, & trash. Move in ready. Financeable !!!

Key facts

• Efficient kitchen
• 3 parking spots
• Built 1990

Tags

• PRIVATE OUTDOOR PATIO
• EFFICIENT KITCHEN

Property features AI

Finance

• HOA & community: Located in Redwoods park

Exterior

• Parking: Carport (3 spaces)
• Utilities: Public water
• Home design: Manufactured in park; Mobile home
• Construction: Wood siding construction; Skirted with wood
• Exterior features: Composition roof; Wood siding

Interior

• Kitchen: Dishwasher; Disposal; Range; Refrigerator; Oven
• Flooring: Vinyl flooring; Carpet flooring
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Dishwasher; Disposal; Range; Refrigerator; Oven; No fireplace

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $79k.

Deal economics

• At list price, monthly cash flow is $607 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $79k).
• Recommended offer: $77k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.5% vs local median 3.3% in Redding — 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 76/100 on livability (#106 in CA, #3,726 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment C-, crime F, cost of living F.
• Gateway Unified (suburban): math 25% / reading 35% proficiency, ranked #355 of 517 in CA (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.0%/yr); 391 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 246 units permitted in Shasta County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $546 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Shasta County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 6.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y 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.

Risks & watch-outs

• Climate carrying-cost: major 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 $76,630 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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. 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.
6. 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.
7. 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: 1.85% ✓
• Cap rate: 15.51%
• Cash-on-cash: 32.93%
• DSCR: 2.47
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $60,710
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
426 Milkwood Dr #188	0.15mi	3/2.0 (+1)	928 (-1%)	1mo	$57,000	$61	86
1269 Mountain Shadows Blvd	0.36mi	2/2.0	896 (-4%)	6mo	$52,500	$59	72
432 Red Cedar DR Sp#91 Dr	0.06mi	2/2.0	1,040 (+11%)	9mo	$80,500	$77	71
1187 Mountain Shadows Blvd #162	0.42mi	2/1.0	980 (+5%)	4mo	$64,000	$65	66
493 Bitterroot Dr. Dr #46	0.16mi	2/2.0	1,040 (+11%)	10mo	$60,000	$58	65
1120 Shawnee Trl	0.52mi	2/2.0	976 (+4%)	5mo	$109,500	$112	64
4513 Chippewa Ln Unit Mountain Shadows Mobile Home	0.42mi	2/1.0	968 (+4%)	18mo	$59,000	$61	55
11037 Erickson Way #15	0.65mi	2/2.0	900 (-4%)	13mo	$89,000	$99	53
1257 Mountain Shadows Blvd	0.37mi	2/1.0	840 (-10%)	14mo	$40,000	$48	50
4438 Menasha Trl #58	0.35mi	2/1.0	804 (-14%)	9mo	$30,000	$37	49
4518 Big Eagle Ln	0.47mi	2/2.0	1,056 (+13%)	14mo	$85,000	$80	45
11037 Erickson Way #10	0.65mi	2/2.0	1,000 (+7%)	18mo	$129,990	$130	43

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 5.98% rent growth · sell at horizon

5-year hold

• IRR: 31.4%
• Equity multiple: 2.37×
• Total profit: $30,392
• Equity at exit: $11,779

10-year hold

• IRR: 40.2%
• Equity multiple: 5.34×
• Total profit: $96,002
• Equity at exit: $6,830

Cash invested: $22,120 (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 96003

• Rents YoY: 6.0%
• Active inventory: 391
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,460 high
• Mortgage (P&I): −$414
• Tax est. 1.5%: −$99 /mo · $1,185/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $607

Break-even live

Break-even rent $691

Max offer price $79,000

Occupancy floor 53%

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4490 Alder St Unit C Redding, CA	2.0	1.0	900	$1,150	$1.28	21d	1	0.26mi
400 Lake Blvd Redding, CA	2.0	1.5	900	$1,310	$1.46	13d	1	0.32mi
701 Redwood Blvd Redding, CA	2.0	1.5–2.5	1163	$1,820	$1.56	13d	1	0.36mi
335 Buckeye Ter Unit 2 Redding, CA	2.0	1.5	800	$1,399	$1.75	21d	1	0.37mi
4296 Clay St Unit 17 Redding, CA	2.0	1.5	900	$1,395	$1.55	21d	1	0.40mi
130 Masonic Ave Apt 9 Redding, CA	2.0	1.0	780	$1,200	$1.54	44d	1	0.42mi
150 Masonic Ave Unit 1 Redding, CA	2.0	1.5	924	$1,400	$1.52	13d	1	0.46mi
170 Masonic Ave #4 Redding, CA	2.0	1.5	924	$1,400	$1.52	13d	1	0.47mi
5391 Stonethrow Ct Redding, CA	3.0	2.0	1100	$1,895	$1.72	44d	1	0.52mi
4433 White River Dr Redding, CA	2.0	2.0	1100	$1,500	$1.36	44d	1	0.57mi
333 Boulder Creek Dr Redding, CA	1.0–2.0	1.0	780	$1,000	$1.28	13d	1	0.69mi
636 Lake Blvd Redding, CA	2.0–3.0	1.0–2.0	986	$1,295	$1.31	13d	8	0.72mi
251 Hilltop Dr Redding, CA	1.0–2.0	1.0–2.0	757	$1,475	$1.95	13d	1	0.74mi
5576 Mountain View Dr Redding, CA	2.0	1.0	776	$1,200	$1.55	13d	1	0.84mi
4288 Bradley Dr Redding, CA	3.0	2.0	1008	$1,950	$1.93	21d	1	0.86mi
3717 Saint Nicholas Ave Unit 5 Redding, CA	1.0	1.0	650	$1,150	$1.77	44d	1	0.99mi
500 Hilltop Dr Redding, CA	2.0–3.0	2.0–3.0	1282	$1,700	$1.33	13d	4	1.26mi
3465 Magnums Way Apt 2 Redding, CA	3.0	2.0	1080	$1,775	$1.64	44d	1	1.38mi
19087 Leaf Ln Redding, CA	2.0	2.0	840	$1,495	$1.78	13d	1	1.49mi

Listing history 22 events

1. 2026-06-19
   days on market $79,000 Active 31 DOM
2. 2026-06-18
   days on market $79,000 Active 30 DOM
3. 2026-06-17
   days on market $79,000 Active 29 DOM
4. 2026-06-16
   days on market $79,000 Active 28 DOM
5. 2026-06-15
   days on market $79,000 Active 27 DOM
6. 2026-06-14
   days on market $79,000 Active 25 DOM
7. 2026-06-13
   days on market $79,000 Active 24 DOM
8. 2026-06-10
   days on market $79,000 Active 22 DOM
9. 2026-06-09
   days on market $79,000 Active 21 DOM
10. 2026-06-08
    days on market $79,000 Active 20 DOM
11. 2026-06-07
    days on market $79,000 Active 19 DOM
12. 2026-06-03
    days on market $79,000 Active 15 DOM
13. 2026-06-02
    pricedays on market $79,000 Active 14 DOM
14. 2026-06-01
    days on market $82,000 Active 13 DOM
15. 2026-05-31
    days on market $82,000 Active 12 DOM
16. 2026-05-30
    days on market $82,000 Active 11 DOM
17. 2026-05-18
    listed $82,000 Active
18. 2023-02-21
    soldstatus $87,000 Closed 370-char remark

    Show marketing remark (370 chars)

    THE REDWOODS - a Five Star Senior Park. Enjoy your morning coffee on the front porch deck overlooking a mountain view. 1990 charmer with a split floor plan. Living room with high ceilings. Modern kitchen. Spacious master bedroom. Indoor laundry. 3 car covered carport. Greenbelt at the rear. Space rent includes water, sewer, & trash. Move in ready. Financeable !!!

19. 2023-01-30
    status Pending 370-char remark

    Show marketing remark (370 chars)

    THE REDWOODS - a Five Star Senior Park. Enjoy your morning coffee on the front porch deck overlooking a mountain view. 1990 charmer with a split floor plan. Living room with high ceilings. Modern kitchen. Spacious master bedroom. Indoor laundry. 3 car covered carport. Greenbelt at the rear. Space rent includes water, sewer, & trash. Move in ready. Financeable !!!

20. 2022-10-03
    listed $87,000 Active 370-char remark

    Show marketing remark (370 chars)

    THE REDWOODS - a Five Star Senior Park. Enjoy your morning coffee on the front porch deck overlooking a mountain view. 1990 charmer with a split floor plan. Living room with high ceilings. Modern kitchen. Spacious master bedroom. Indoor laundry. 3 car covered carport. Greenbelt at the rear. Space rent includes water, sewer, & trash. Move in ready. Financeable !!!

21. 2016-04-12
    soldstatus $30,000 167-char remark

    Show marketing remark (167 chars)

    THE REDWOODS - a Five Star Senior Park. Must be 55 years or older. 2 bedroom and 2 full baths; View from the covered front porch, large living room; dining area; shed.

22. 2016-03-02
    listed $32,000 167-char remark

    Show marketing remark (167 chars)

    THE REDWOODS - a Five Star Senior Park. Must be 55 years or older. 2 bedroom and 2 full baths; View from the covered front porch, large living room; dining area; shed.

ⓘ 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 7/10 Severe
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 37 unhealthy d/yr today · 40 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,514
• − Mortgage interest: −$4,425
• − Property taxes: −$1,185
• − Insurance: −$395
• − Repairs & maintenance: −$1,401
• − Management: −$1,401
• − Depreciation: −$2,298
• Taxable income: $6,409
• Est. tax owed @ 24.0%: −$1,538
• After-tax cash flow: $5,747/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: Gateway Unified
• NCES district ID: 0614950
• Math proficiency: 25% ▼ -5.00%
• Reading proficiency: 35% ▲ 2.00%
• Median HH income: $41,888
• Composite: 25.39/100
• National rank: #7465
• State rank: #355 of 517 in CA

Livability — Redding

• Score: 76/100
• State rank: #106
• US rank: #3726

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Redding, CA
• County: Shasta County · 147,641 people
• City population: 112,523
• Metro: Redding, CA
• Population (ZIP): 44,923
• Household income: $72,445
• Rent vs Own: 41.5% rent · 58.5% own
• Severe rent burden: 1668.0

Population outlook (Shasta County) Hauer SSP2

• Today (2025): 179,231 people
• By 2030: 176,953 · -1.3%
• By 2040: 169,982 · -5.2%
• By 2050: 162,547 · -9.3%
• By 2075: 145,649 · -18.7%
• By 2100: 123,025 · -31.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 11% Two or more races 10% Asian 4% Native American 1% Black 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 5% Slovak 3% Lithuanian 3%
• Foreign-born: 6% · Canada, China
• Languages at home: 92% English-only · Spanish 3% German/W. Germanic 1% Other Asian/Pacific 1%

Political lean MEDSL · Shasta

• 2024 margin: Solid R (+36.5) · D 30.5% · R 67.0% · Other 2.5%
• 2008→2024 swing: -10.7pp toward R · 2008: -25.8pp · 2024: -36.5pp
• All cycles: 2024: R+36.5 2020: R+33.1 2016: R+37.4 2012: R+30.3 2008: R+25.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -181.66%
• Current HPI: 152.3069
• Rent YoY: ▲ 5.98%
• Metro: Redding, 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

+156.2% since first listed

6 events — show timeline

• 2026-05-18 Listed $82,000 SAOR
• 2023-02-21 Sold (MLS) $87,000 SAOR
• 2023-01-30 Pending — SAOR
• 2022-10-03 Listed $87,000 SAOR
• 2016-04-12 Sold (MLS) $30,000 SAOR
• 2016-03-02 Listed $32,000 SAOR

Property tax history

+2.8%/yr

Latest (2020): $101 · +1.2% YoY. Source: county tax records.