2200 Jewell Ln #24

Redding, CA 96001

$24,000C

1 bd · 1.0 ba · 720 sqft · Built — · Manufactured · Active · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,263/mo
• Mortgage (P&I): −$126
• Tax + insurance: −$467
• HOA: −$0
• Vac / Maint / Mgmt: −$265
• Net cashflow: $405/mo
• Annual: $4,864/yr
• Cap rate: 47.89%
• Cash-on-cash: 148.55%
• DSCR: 7.61
• 1% rule: 5.26%
• Cash to close: $6,720

Investor read

• This is a 1-bed/1.0-bath manufactured listed at $24k. Condition is rated fair.
• At list price, monthly cash flow is $405 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $24k).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $166 of loan paydown is wiped out by about $720 of value loss. Plan a longer hold.
• 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.
• Shasta Union High (urban): math 41% / reading 67% proficiency, ranked #122 of 517 in CA (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: Rents rising fast (+7.5%/yr); 331 active listings in the ZIP; 246 units permitted in Shasta County in 2024 (0 in 5+ unit buildings).
• 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 + 7.5% rent growth), your $7k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wildfire risk; extreme-heat days projected 6→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 47.9% 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.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: exterior siding — Severe weathering and peeling
• Major: exterior paint — Peeling and chipping
• Major: landscaping — Overgrown vegetation and debris