180 Rose Ln & 1011 Fourth St Unit vacant

Yreka, CA 96097

$465,000B-

None bd · 8.0 ba · 6,400 sqft · Built — · MultiFamily · Active · 46 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $9,013/mo
• Mortgage (P&I): −$2,439
• Tax + insurance: −$775
• HOA: −$0
• Vac / Maint / Mgmt: −$1,893
• Net cashflow: $3,907/mo
• Annual: $46,881/yr
• Cap rate: 16.37%
• Cash-on-cash: 36.01%
• DSCR: 2.60
• 1% rule: 1.94%
• Cash to close: $130,200

Investor read

• This is a 8 × ?-bed/1-bath units multifamily listed at $465k. Condition is rated fair.
• At list price, monthly cash flow is $4k ($47k/yr) — positive. Per door: $488/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $465k).
• It's been on market 46 days — a 3% lower offer ($451k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $451k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.
• Location reads 60/100 on livability (#602 in CA) — a middle-class / working-renter tenant base. Strengths: health & safety A+, housing A; Watch: crime F, amenities F, commute F.
• Yreka Union High (town): math 25% / reading 65% proficiency, ranked #630 of 1,400 in CA (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Evergreen Elementary (math 27% / reading 17%, grade F, #1,179 of 1,571 statewide, top 78%, 447 students, 71% FRL); Jackson Street Elementary (math 14% / reading 27%, grade F, #412 of 498 statewide, top 83%, 438 students, 70% FRL); Yreka High (math 37% / reading 82%, grade C+, #205 of 1,170 statewide, top 19%, 669 students, 52% FRL).
• Market conditions: 122 active listings in the ZIP; 50 units permitted in Siskiyou County in 2024 (0 in 5+ unit buildings).
• Siskiyou County population projected at -26% 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 $130k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 16.4% vs local median 2.9% in Yreka — 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

• It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Exterior walls — Some discoloration visible.
• Minor: Interior walls — Some discoloration visible.
• Minor: Flooring — Worn appearance.
• Moderate: Bathrooms — Dated fixtures and appearance.
• Moderate: Kitchen — Dated fixtures and appearance.
• Minor: Windows — Could be updated for energy efficiency.