241 Farrar Drive Dr

Chester, CA 96020

$180,000C-

4 bd · 1.0 ba · 1,978 sqft · Built 1957 · SingleFamily · Active · 147 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,465/mo
• Mortgage (P&I): −$944
• Tax + insurance: −$339
• HOA: −$0
• Vac / Maint / Mgmt: −$308
• Net cashflow: $-125/mo
• Annual: $-1,502/yr
• Cap rate: 5.46%
• Cash-on-cash: -2.98%
• DSCR: 0.87
• 1% rule: 0.81%
• Cash to close: $50,400

Investor read

• This is a 4-bed/1.0-bath single-family listed at $180k.
• At list price, monthly cash flow is $-125 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $158k (12.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $146k (18.6% below list).
• It's been on market 147 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $146k (18.6% below list) — sets the bar for 1% rule.
• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Location reads 60/100 on livability (#581 in CA) — a middle-class / working-renter tenant base. Strengths: housing A+, crime B+; Watch: cost of living D+, amenities F, commute F.
• Plumas Unified (rural): math 21% / reading 44% proficiency, ranked #306 of 517 in CA (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 74 active listings in the ZIP; 39 units permitted in Plumas County in 2024 (0 in 5+ unit buildings).
• Plumas County population projected at -42% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $80k (31%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 147 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
• Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.