6589 Hohape Ave · Soda Bay, CA 95451

$379,000

12 bd · 9.0 ba · 2,200 sqft · MultiFamily · 472 Days on market

Built 1959 7,841 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Huge investment potential in Soda Bay. First, a two-story main home houses a studio which features a full kitchen and fenced front porch. In the upper unit you'll find a updated one bedroom, one bath unit. Furthermore, the property features a small cottage equipped with laundry. Great lake views abound and this property includes beach access rights.

Key facts

• Open concept kitchen
• Lake views
• Tile walk-in shower

Tags

• LAKE VIEWS
• WALKING DISTANCE TO THE LAKE
• OPEN CONCEPT KITCHEN
• TILE WALK-IN SHOWER
• NEW APPLIANCES
• NEW DECK

Property features AI

Finance

• Other: Total of 3 units (triplex); No common walls between units; Living area estimated; Year built from public records; Parcel number available
• Financial info:
• HOA & community: Community features include sidewalks, street lighting, parks, dog park, bike and hiking trails, horse trails and riding/stables, golfing and watersports opportunities, nearby BLM/National Forest and public preserves, mountainous terrain, and storm drains/curbs/gutters

Exterior

• Parking:
• Security:
• Utilities: Public water (district); Public sewer; Electricity connected
• Home design: Two stories; Entry on street level; Property includes an ADU (1 ADU); Has lake rights; Has a view; R1 zoning
• Construction:
• Exterior features: Triplex structure; Front and back yards; Garden; Secluded yard; Park nearby; Near public transit; Lot-level/flat; Excellent-condition fencing; No pool

Interior

• Kitchen: Electric range and electric oven; Refrigerator; Electric water heater
• Bedrooms: Main floor primary bedroom; Total of 4 main-level bedrooms
• Flooring: Vinyl flooring
• Bathrooms: Three full bathrooms; Showers
• Heating & cooling: Electric heating; Wood stove and wood heating; Baseboard heating; Wall/window cooling units
• Interior features: Two-level home with main-floor primary bedroom; Street-level entry; Turnkey condition; Living room with fireplace; Workshop; See remarks (additional interior details)
• Laundry & utility: Laundry inside; Washer and dryer included; Electric dryer hookup; Washer hookup; Stackable washer/dryer compatible; 220V available in laundry

What this means for you Summary

Snapshot

• This is a 3 × 4-bed/3.0-bath units multifamily listed at $379k.

Deal economics

• At list price, monthly cash flow is $3k ($34k/yr) — positive. Per door: $944/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $379k).
• Recommended offer: $334k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.3% vs local median 3.8% in Soda Bay — 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 60/100 on livability (#595 in CA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: health & safety C-, crime F, amenities F.
• Kelseyville Unified (town): math 18% / reading 33% proficiency, ranked #1,150 of 1,400 in CA (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Riviera Elementary (223 students, 60% FRL); Mountain Vista Middle (375 students, 76% FRL); Kelseyville High (math 8% / reading 42%, grade F, #811 of 1,170 statewide, top 70%, 540 students, 64% FRL) — zoned schools at 67% FRL track the district average.
• Market conditions: 273 active listings in the ZIP; 107 units permitted in Lake County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k 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 $106k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 472 days — a 12% lower offer ($334k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 10y ago; this cycle's ask has dropped $46k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $160k; list at $379k implies a 137% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 8→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $333,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 472 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.82% ✓
• Cap rate: 15.26%
• Cash-on-cash: 32.02%
• DSCR: 2.42
• GRM: 4.6

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: 27.0%
• Equity multiple: 2.12×
• Total profit: $119,050
• Equity at exit: $56,510

10-year hold

• IRR: 34.6%
• Equity multiple: 4.17×
• Total profit: $336,332
• Equity at exit: $32,769

Cash invested: $106,120 (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 95451

• Active inventory: 273
• Price-to-rent: 13.7×

Monthly cashflow live

• Estimated rent: $6,900 medium
• Mortgage (P&I): −$1,988
• Tax est. 1.5%: −$474 /mo · $5,685/yr
• Insurance: −$158
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,449
• Net cashflow: $2,832

Break-even live

Break-even rent $3,315

Max offer price $379,000

Occupancy floor 54%

Sensitivity live

Price	-10% $3,094	-5% $2,963	+0% $2,832	+5% $2,701	+10% $2,570
Rent	-10% $2,287	-5% $2,559	+0% $2,832	+5% $3,104	+10% $3,377
Rate	-1.0pp $3,023	-0.5pp $2,928	base $2,832	+0.5pp $2,734	+1.0pp $2,634

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	4	3	$6,900
Total (3 units)			$6,900

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: $94,750
• Closing costs: $11,370
• Reserves months: —
• Total cash needed: —

Listing history 45 events

1. 2026-06-21
   days on market $379,000 Active 472 DOM
2. 2026-06-19
   days on market $379,000 Active 470 DOM
3. 2026-06-18
   days on market $379,000 Active 469 DOM
4. 2026-06-17
   days on market $379,000 Active 468 DOM
5. 2026-06-16
   days on market $379,000 Active 467 DOM
6. 2026-06-15
   days on market $379,000 Active 466 DOM
7. 2026-06-14
   days on market $379,000 Active 464 DOM
8. 2026-06-12
   days on market $379,000 Active 463 DOM
9. 2026-06-09
   days on market $379,000 Active 460 DOM
10. 2026-06-08
    days on market $379,000 Active 459 DOM
11. 2026-06-07
    days on market $379,000 Active 458 DOM
12. 2026-06-07
    days on market $379,000 Active 457 DOM
13. 2026-06-03
    days on market $379,000 Active 454 DOM
14. 2026-06-02
    pricestatusdays on market $379,000 Active 453 DOM
15. 2026-05-24
    status Pending Sale
16. 2026-04-28
    historical Active Under Contract
17. 2026-04-01
    status Active
18. 2026-04-01
    price $389,000
19. 2026-03-20
    historical Active Under Contract
20. 2026-03-13
    price $399,000
21. 2025-12-05
    price $409,000
22. 2025-03-11
    price $415,000
23. 2025-02-26
    listed $425,000 Active
24. 2018-07-26
    soldstatus $160,000 Closed Sale 351-char remark

    Show marketing remark (351 chars)

    Huge investment potential in Soda Bay. First, a two-story main home houses a studio which features a full kitchen and fenced front porch. In the upper unit you'll find a updated one bedroom, one bath unit. Furthermore, the property features a small cottage equipped with laundry. Great lake views abound and this property includes beach access rights.

25. 2018-06-29
    status Pending Sale 351-char remark

    Show marketing remark (351 chars)

    Huge investment potential in Soda Bay. First, a two-story main home houses a studio which features a full kitchen and fenced front porch. In the upper unit you'll find a updated one bedroom, one bath unit. Furthermore, the property features a small cottage equipped with laundry. Great lake views abound and this property includes beach access rights.

26. 2018-06-07
    status Active 351-char remark

    Show marketing remark (351 chars)

    Huge investment potential in Soda Bay. First, a two-story main home houses a studio which features a full kitchen and fenced front porch. In the upper unit you'll find a updated one bedroom, one bath unit. Furthermore, the property features a small cottage equipped with laundry. Great lake views abound and this property includes beach access rights.

27. 2018-06-04
    historical 351-char remark

    Show marketing remark (351 chars)

    Huge investment potential in Soda Bay. First, a two-story main home houses a studio which features a full kitchen and fenced front porch. In the upper unit you'll find a updated one bedroom, one bath unit. Furthermore, the property features a small cottage equipped with laundry. Great lake views abound and this property includes beach access rights.

28. 2018-04-27
    status Active 351-char remark

    Show marketing remark (351 chars)

    Huge investment potential in Soda Bay. First, a two-story main home houses a studio which features a full kitchen and fenced front porch. In the upper unit you'll find a updated one bedroom, one bath unit. Furthermore, the property features a small cottage equipped with laundry. Great lake views abound and this property includes beach access rights.

29. 2018-03-08
    historical Active Under Contract 351-char remark

    Show marketing remark (351 chars)

    Huge investment potential in Soda Bay. First, a two-story main home houses a studio which features a full kitchen and fenced front porch. In the upper unit you'll find a updated one bedroom, one bath unit. Furthermore, the property features a small cottage equipped with laundry. Great lake views abound and this property includes beach access rights.

30. 2018-02-08
    listed $159,000 Active 351-char remark

    Show marketing remark (351 chars)

    Huge investment potential in Soda Bay. First, a two-story main home houses a studio which features a full kitchen and fenced front porch. In the upper unit you'll find a updated one bedroom, one bath unit. Furthermore, the property features a small cottage equipped with laundry. Great lake views abound and this property includes beach access rights.

31. 2017-10-31
    historical
32. 2017-10-03
    listed $159,900 Active
33. 2017-09-29
    status Active
34. 2017-09-10
    historical
35. 2017-08-10
    historical Active Under Contract
36. 2017-06-26
    price $159,900
37. 2017-05-24
    price $179,000
38. 2017-04-21
    price $189,900
39. 2017-03-13
    listed $199,000 Active
40. 2016-11-10
    historical
41. 2016-10-26
    historical
42. 2016-05-17
    listed $199,000 Active
43. 2016-05-17
    price $199,000
44. 2016-03-22
    price $209,000
45. 2016-01-26
    listed $219,000 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 6/10 Major 8 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 32 unhealthy d/yr today · 32 by 30 yrs out

Taxation est. · year 1

• Rental income: $82,800
• − Mortgage interest: −$21,230
• − Property taxes: −$5,685
• − Insurance: −$1,895
• − Repairs & maintenance: −$6,624
• − Management: −$6,624
• − Depreciation: −$11,025
• Taxable income: $29,717
• Est. tax owed @ 24.0%: −$7,132
• After-tax cash flow: $26,850/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: Kelseyville Unified
• NCES district ID: 0619320
• Math proficiency: 18% ▼ -1.00%
• Reading proficiency: 33% ▲ 4.00%
• Median HH income: $47,210
• Composite: 25.19/100
• National rank: #12920
• State rank: #1150 of 1400 in CA

Livability — Soda Bay

• Score: 60/100
• State rank: #595
• US rank: #19239

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Soda Bay, CA
• County: Lake County · 24,333 people
• Metro: Clearlake, CA
• Population (ZIP): 12,592
• Household income: $62,568
• Rent vs Own: 27.1% rent · 72.9% own
• Severe rent burden: 194.0

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: Majority White (57%)
• Race & ethnicity: White 57% Hispanic / Latino 38% Two or more races 11% Black 1%
• Hispanic origin (detail): Mexican 35%
• Common ancestry: Russian 3% Slovak 3% Italian 2%
• Foreign-born: 14% · Canada
• Languages at home: 71% English-only · Spanish 28% German/W. Germanic 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: ▼ -158.45%
• Current HPI: 168.6995
• 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

+77.6% since first listed

31 events — show timeline

• 2026-05-24 Pending — CRMLS
• 2026-04-28 Contingent — CRMLS
• 2026-04-01 Relisted — CRMLS
• 2026-04-01 Price Changed $389,000 CRMLS
• 2026-03-20 Contingent — CRMLS
• 2026-03-13 Price Changed $399,000 CRMLS
• 2025-12-05 Price Changed $409,000 CRMLS
• 2025-03-11 Price Changed $415,000 CRMLS
• 2025-02-26 Listed $425,000 CRMLS
• 2018-07-26 Sold (MLS) $160,000 CRMLS
• 2018-06-29 Pending — CRMLS
• 2018-06-07 Relisted — CRMLS
• 2018-06-04 Listing Removed — CRMLS
• 2018-04-27 Relisted — CRMLS
• 2018-03-08 Contingent — CRMLS
• 2018-02-08 Listed $159,000 CRMLS
• 2017-10-31 Listing Removed — CRMLS
• 2017-10-03 Listed $159,900 CRMLS
• 2017-09-29 Relisted — CRMLS
• 2017-09-10 Listing Removed — CRMLS
• 2017-08-10 Contingent — CRMLS
• 2017-06-26 Price Changed $159,900 CRMLS
• 2017-05-24 Price Changed $179,000 CRMLS
• 2017-04-21 Price Changed $189,900 CRMLS
• 2017-03-13 Listed $199,000 CRMLS
• 2016-11-10 Listing Removed — CRMLS
• 2016-10-26 Listing Removed — CRMLS
• 2016-05-17 Listed $199,000 CRMLS
• 2016-05-17 Price Changed $199,000 CRMLS
• 2016-03-22 Price Changed $209,000 CRMLS
• 2016-01-26 Listed $219,000 CRMLS