4718 Hawaina Way · Clearlake Riviera, CA 95451

$225,000

3 bd · 1.5 ba · 1,152 sqft · SingleFamily public records · 6 Days on market

Built 1972 7,405 sqft lot Est $313k · 28% under $12/mo HOA · 1% of rent

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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 +20.2/30.0
• ARV discount +15.0/15.0
• DSCR +6.4/10.0
• 1% rule +4.3/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

6TH FAIRWAY, FIXER UPPER, NEEDS STRUCTURAL PEST CONTROL WORK, TOTAL COSMETICS INSIDE & OUTSIDE, NEARLY LEVEL LOT, 28X24 OVERSIZE GAR

Key facts

• Back yard access
• Deck access
• Close to lake

Tags

• BACK YARD ACCESS
• SIDE YARD ACCESS
• DECK ACCESS
• CLOSE TO SHOPPING CENTER
• CLOSE TO KONOCTI HARBOR INN
• CLOSE TO LAKE

Property features AI

Finance

• Other: Single dwelling unit (no common walls); Total of 1 unit on the property
• HOA & community: Part of Kelseyville Riviera Community Association; Association fee $142 annually; Community features: Foothills

Exterior

• Parking: Garage parking (1 space); Total parking for 1 vehicle
• Utilities: Public sewer; District/public water; Propane; Electricity connected
• Home design: House; Single-story; Entry at main level
• Construction: Concrete block foundation; Built (year per public records)
• Exterior features: Patio (has patio); Gentle slope lot; Has view

Interior

• Kitchen: Refrigerator; Electric range; Dishwasher; Garbage disposal; Electric water heater; Casual eating area
• Bedrooms: 3 bedrooms on the main level; Primary bedroom
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms with shower and shower-in-tub options
• Heating & cooling: Central cooling; Oil and propane heating
• Interior features: Living room with attached deck; One-level living
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry located in the garage

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $283 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $210k (6.7% below list).
• Recommended offer: $210k (6.7% below list) — sets the bar for 1% rule.
• Cap rate 7.8% vs local median 4.2% in Clearlake Riviera — 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 58/100 on livability (#690 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: crime C-, health & safety C-, 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; 1 comparable units currently listed for rent nearby; 107 units permitted in Lake County in 2024 (40 in 5+ unit buildings).
• This rent runs 40% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 26y 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.
• Current owner paid $65k; list at $225k implies a 246% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $209,994 (6.7% below list)

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.93% ✗
• Cap rate: 7.80%
• Cash-on-cash: 5.38%
• DSCR: 1.24
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $313,344
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4672 Hawaina	0.21mi	2/2.0 (-1)	1,232 (+7%)	2mo	$320,000	$260	70
10431 Edgewater Dr	0.35mi	2/2.0 (-1)	1,159 (+1%)	10mo	$325,000	$280	67
10695 Edgewater	0.32mi	2/1.5 (-1)	1,093 (-5%)	9mo	$190,000	$174	64
10305 Hok Has Ha	0.37mi	3/2.0	1,300 (+13%)	5mo	$340,000	$262	56
10869 Northslope Dr	0.44mi	2/2.0 (-1)	1,120 (-3%)	20mo	$340,000	$304	51
10706 Edgewater Dr	0.28mi	2/2.0 (-1)	1,310 (+14%)	9mo	$310,000	$237	50
10818 Skyview Dr	0.53mi	2/2.0 (-1)	1,260 (+9%)	4mo	$400,000	$317	49
10469 Fairway Pl	0.23mi	2/1.0 (-1)	1,008 (-12%)	19mo	$270,000	$268	46
10091 Emerald Dr	0.66mi	2/2.0 (-1)	1,065 (-8%)	9mo	$340,000	$319	42
4524 Crystal Cv	0.49mi	2/2.0 (-1)	1,300 (+13%)	13mo	$385,000	$296	38
5294 Bel Air W	0.72mi	3/2.0	1,310 (+14%)	6mo	$319,000	$244	36
9731 Sequoia Rd	0.70mi	3/2.0	1,280 (+11%)	20mo	$348,000	$272	30

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -8.0%
• Equity multiple: 0.71×
• Total profit: $-18,543
• Equity at exit: $33,548

10-year hold

• IRR: 1.5%
• Equity multiple: 1.11×
• Total profit: $6,707
• Equity at exit: $19,454

Cash invested: $63,000 (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: 8.9×

Monthly cashflow live

• Estimated rent: $2,100 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$91 /mo · $1,089/yr
• Insurance: −$94
• HOA: −$12
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $283

Break-even live

Break-even rent $1,742

Max offer price $225,000

Occupancy floor 82%

Sensitivity live

Price	-10% $410	-5% $346	+0% $283	+5% $219	+10% $155
Rent	-10% $117	-5% $200	+0% $283	+5% $365	+10% $448
Rate	-1.0pp $396	-0.5pp $340	base $283	+0.5pp $224	+1.0pp $165

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10340 Hok Has Ha Ln Unit B Kelseyville, CA	2.0	2.0	1144	$1,550	$1.35	46d	1	0.38mi

HOA detail

• Monthly dues: $12 · $144/yr

Listing history 6 events

1. 2026-06-22
   days on market $225,000 Active 6 DOM
2. 2026-06-21
   days on market $225,000 Active 5 DOM
3. 2026-06-19
   days on market $225,000 Active 3 DOM
4. 2026-06-18
   days on market $225,000 Active 2 DOM
5. 2026-06-17
   remarks 606-char remark
6. 2026-06-17
   listed $225,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $1,089 · $91/mo
• Projected year-2 tax: $1,710 · $142/mo
• Expected delta: +$621/yr (+$52/mo · 57.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 9/10 Extreme
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 32 unhealthy d/yr today · 34 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,199
• − Mortgage interest: −$12,603
• − Property taxes: −$1,089
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,016
• − Management: −$2,016
• − HOA: −$144
• − Depreciation: −$6,545
• Taxable loss: −$339
• Est. tax savings @ 24.0%: +$81
• After-tax cash flow: $3,472/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 — Clearlake Riviera

• Score: 58/100
• State rank: #690
• US rank: #20956

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clearlake Riviera, 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

+181.6% since first listed

4 events — show timeline

• 2026-06-16 Listed $225,000 CRMLS
• 2000-09-29 Sold (Public Records) $65,000 Public Records
• 2000-09-29 Sold (MLS) $65,000 CRMLS
• 2000-08-07 Listed $79,900 CRMLS

Property tax history

+2.0%/yr

Latest (2025): $1,089 · +1.7% YoY. Source: county tax records.