465 Silkwood Dr #10 · Redding, CA 96003

$57,000

2 bd · 2.0 ba · 1,440 sqft · Manufactured · 97 Days on market

Built 1974 Fair condition $40/sqft · 27% below area Est $78k · 27% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Schools +2.5/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Tucked away in the desirable Redwoods Mobile Home Park, this 2 bedroom, 2 bathroom home offers comfortable living in a welcoming 55+ community. The property features low-maintenance landscaping, making it easy to enjoy your surroundings without extensive upkeep. A large covered patio provides a great space to relax outdoors, enjoy the shade, or visit with friends and neighbors. The covered carport adds convenient parking and protection from the elements. A storage shed in the back offers additional space for tools, seasonal items, or hobbies. The home is positioned in a quieter area of the park, giving it a peaceful, tucked-away feel. Inside, the primary bedroom includes a walk-in closet and a dedicated vanity area, providing both functionality and convenience. The secondary bedroom also features its own walk-in closet, offering ample storage for guests or additional use. Residents of The Redwoods enjoy a variety of community amenities including a pool, sauna, clubhouse, and additional recreational spaces, creating opportunities for social activities and an active lifestyle. The location provides easy access to several popular Redding destinations within about five miles, including Turtle Bay Exploration Park and the scenic Sundial Bridge, offering beautiful walking paths and riverfront views. Nearby shopping, restaurants, medical services, and everyday conveniences make this a practical and comfortable place to call home.

Key facts

• Easy access
• Covered carport
• Community amenities

Tags

• LOW MAINTENANCE LANDSCAPING
• LARGE COVERED PATIO
• COVERED CARPORT
• COMMUNITY AMENITIES
• EASY ACCESS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $57k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $924 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $57k).
• Recommended offer: $52k (9.0% below list) — sets the bar for market timing.
• Cap rate 25.7% 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.

Location & tenants

• 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.
• Gateway Unified (suburban): math 25% / reading 35% proficiency, ranked #355 of 517 in CA (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.0%/yr); 391 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 246 units permitted in Shasta County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $394 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• 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 + 6.0% rent growth), your $16k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y ago; this cycle's ask has dropped $8k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $23k; list at $57k implies a 148% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $51,870 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 2.93% ✓
• Cap rate: 25.75%
• Cash-on-cash: 69.48%
• DSCR: 4.09
• GRM: 2.8

CMA / ARV

• ARV (median comp): $77,705
• List price: $57,000
• Delta: -26.65%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4555 Underwood Dr	0.34mi	2/2.0	1,440 (0%)	1mo	$99,000	$69	83
301 Sapwood Dr #280	0.31mi	2/2.0	1,440 (0%)	4mo	$65,900	$46	82
323 Sapwood Dr Sp# 279 Dr	0.31mi	2/2.0	1,440 (0%)	4mo	$89,000	$62	82
458 Balsawood Dr	0.14mi	2/2.0	1,344 (-7%)	1mo	$60,000	$45	82
4719 Maple Trl	0.32mi	3/2.0 (+1)	1,520 (+6%)	3mo	$181,500	$119	69
362 Lemon Dr #24	0.07mi	3/2.0 (+1)	1,248 (-13%)	2mo	$76,100	$61	67
4649 Underwood Dr #257	0.28mi	3/2.0 (+1)	1,536 (+7%)	4mo	$75,000	$49	67
470 Brushwood Dr #139	0.18mi	2/2.0	1,632 (+13%)	6mo	$98,000	$60	65
4532 Hardwood Blvd #195	0.33mi	2/2.0	1,600 (+11%)	3mo	$76,000	$48	64
1350 Aztec Path #229	0.67mi	2/2.0	1,456 (+1%)	6mo	$95,000	$65	62
899 Tuberose Trl	0.33mi	3/2.0 (+1)	1,560 (+8%)	5mo	$99,180	$64	62
11037 Erickson Way #76	0.59mi	3/2.0 (+1)	1,344 (-7%)	2mo	$28,800	$21	55

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 · 5.98% rent growth · sell at horizon

5-year hold

• IRR: 72.3%
• Equity multiple: 4.43×
• Total profit: $54,795
• Equity at exit: $8,499

10-year hold

• IRR: 77.1%
• Equity multiple: 10.15×
• Total profit: $146,075
• Equity at exit: $4,928

Cash invested: $15,960 (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 96003

• Rents YoY: 6.0%
• Active inventory: 391
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,668 high
• Mortgage (P&I): −$299
• Tax est. 1.5%: −$71 /mo · $855/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $924

Break-even live

Break-even rent $499

Max offer price $57,000

Occupancy floor 40%

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: $14,250
• Closing costs: $1,710
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
701 Redwood Blvd Redding, CA	2.0	1.5–2.5	1163	$1,820	$1.56	13d	1	0.25mi
5391 Stonethrow Ct Redding, CA	3.0	2.0	1100	$1,895	$1.72	43d	1	0.36mi
4490 Alder St Unit C Redding, CA	2.0	1.0	900	$1,150	$1.28	21d	1	0.43mi
400 Lake Blvd Redding, CA	2.0	1.5	900	$1,310	$1.46	13d	1	0.49mi
4296 Clay St Unit 17 Redding, CA	2.0	1.5	900	$1,395	$1.55	21d	1	0.57mi
150 Masonic Ave Unit 1 Redding, CA	2.0	1.5	924	$1,400	$1.52	13d	1	0.58mi
170 Masonic Ave #4 Redding, CA	2.0	1.5	924	$1,400	$1.52	13d	1	0.59mi
4433 White River Dr Redding, CA	2.0	2.0	1100	$1,500	$1.36	43d	1	0.62mi
251 Hilltop Dr Redding, CA	1.0–2.0	1.0–2.0	757	$1,475	$1.95	13d	1	0.75mi
636 Lake Blvd Redding, CA	2.0–3.0	1.0–2.0	986	$1,295	$1.31	13d	8	0.87mi
4288 Bradley Dr Redding, CA	3.0	2.0	1008	$1,950	$1.93	21d	1	0.91mi
6053 Fallworth Dr Redding, CA	3.0	2.0	1622	$2,650	$1.63	13d	1	1.28mi
500 Hilltop Dr Redding, CA	2.0–3.0	2.0–3.0	1282	$1,700	$1.33	13d	4	1.29mi
6073 Fallworth Dr Redding, CA	3.0	2.0	1622	$2,650	$1.63	13d	1	1.30mi
550 Mission de Oro Dr Redding, CA	3.0	2.0	1429	$1,995	$1.40	21d	1	1.39mi
3465 Magnums Way Apt 2 Redding, CA	3.0	2.0	1080	$1,775	$1.64	43d	1	1.50mi

Listing history 19 events

1. 2026-06-19
   days on market $57,000 Active 97 DOM
2. 2026-06-18
   days on market $57,000 Active 96 DOM
3. 2026-06-17
   days on market $57,000 Active 95 DOM
4. 2026-06-16
   days on market $57,000 Active 94 DOM
5. 2026-06-15
   days on market $57,000 Active 93 DOM
6. 2026-06-14
   days on market $57,000 Active 91 DOM
7. 2026-06-13
   days on market $57,000 Active 90 DOM
8. 2026-06-10
   days on market $57,000 Active 88 DOM
9. 2026-06-09
   days on market $57,000 Active 87 DOM
10. 2026-06-08
    days on market $57,000 Active 86 DOM
11. 2026-06-07
    days on market $57,000 Active 85 DOM
12. 2026-06-03
    days on market $57,000 Active 81 DOM
13. 2026-06-02
    days on market $57,000 Active 80 DOM
14. 2026-06-01
    days on market $57,000 Active 79 DOM
15. 2026-05-31
    days on market $57,000 Active 78 DOM
16. 2026-05-30
    days on market $57,000 Active 77 DOM
17. 2026-03-14
    listed $65,000 Active 1446-char remark

    Show marketing remark (1446 chars)

    Tucked away in the desirable Redwoods Mobile Home Park, this 2 bedroom, 2 bathroom home offers comfortable living in a welcoming 55+ community. The property features low-maintenance landscaping, making it easy to enjoy your surroundings without extensive upkeep. A large covered patio provides a great space to relax outdoors, enjoy the shade, or visit with friends and neighbors. The covered carport adds convenient parking and protection from the elements. A storage shed in the back offers additional space for tools, seasonal items, or hobbies. The home is positioned in a quieter area of the park, giving it a peaceful, tucked-away feel. Inside, the primary bedroom includes a walk-in closet and a dedicated vanity area, providing both functionality and convenience. The secondary bedroom also features its own walk-in closet, offering ample storage for guests or additional use. Residents of The Redwoods enjoy a variety of community amenities including a pool, sauna, clubhouse, and additional recreational spaces, creating opportunities for social activities and an active lifestyle. The location provides easy access to several popular Redding destinations within about five miles, including Turtle Bay Exploration Park and the scenic Sundial Bridge, offering beautiful walking paths and riverfront views. Nearby shopping, restaurants, medical services, and everyday conveniences make this a practical and comfortable place to call home.

18. 2017-03-31
    soldstatus $23,000 420-char remark

    Show marketing remark (420 chars)

    THE REDWOODS - A Senior Mobile Home Park. Must be 55 years or older. Mobile located very close to the active Club House with swimming pool, card room, pool tables, kitchen, etc. 2 bedrooms; 2 full baths; living, family, & dining room. Central Heat & AC; 7x48 ft front deck; Unit backs up to a green belt/creek. Close to shopping & transportation; Space rent of $469. includes water, sewer, & trash.

19. 2017-03-01
    listed $24,000 420-char remark

    Show marketing remark (420 chars)

    THE REDWOODS - A Senior Mobile Home Park. Must be 55 years or older. Mobile located very close to the active Club House with swimming pool, card room, pool tables, kitchen, etc. 2 bedrooms; 2 full baths; living, family, & dining room. Central Heat & AC; 7x48 ft front deck; Unit backs up to a green belt/creek. Close to shopping & transportation; Space rent of $469. includes water, sewer, & trash.

ⓘ 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 7/10 Severe
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 37 unhealthy d/yr today · 40 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,020
• − Mortgage interest: −$3,193
• − Property taxes: −$855
• − Insurance: −$285
• − Repairs & maintenance: −$1,602
• − Management: −$1,602
• − Depreciation: −$1,658
• Taxable income: $10,826
• Est. tax owed @ 24.0%: −$2,598
• After-tax cash flow: $8,491/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This mobile home requires moderate repairs and updates to improve its condition and value. Painting, updating cabinets, and landscaping would significantly enhance its appeal.

Repairs flagged

• Minor kitchen cabinets — Light wear and tear.
• Minor bathroom fixtures — Aesthetic update needed.
• Minor exterior paint — Slight fading.
• Minor interior paint — Faded in some areas.
• Minor landscaping — Needs trimming and updating.
• Minor HVAC filters — Regular maintenance needed.

Value-add opportunities

• Both Painting and updating kitchen cabinets — Enhances curb appeal and interior aesthetics.
• Both Landscaping and curb appeal improvements — Enhances property's visual appeal and value.
• Both HVAC system maintenance — Improves comfort and energy efficiency, attracting potential buyers/tenants.

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · Light wear and tear.	Minor	$500–3,000
bathroom fixtures · Aesthetic update needed.	Minor	$500–3,000
exterior paint · Slight fading.	Minor	$500–3,000
interior paint · Faded in some areas.	Minor	$500–3,000
landscaping · Needs trimming and updating.	Minor	$500–3,000
HVAC filters · Regular maintenance needed.	Minor	$500–3,000
Total estimated repair cost · 6 items		$3,000–18,000

Value-add ROI direction

• Both Painting and updating kitchen cabinets — Enhances curb appeal and interior aesthetics. ↑
• Both Landscaping and curb appeal improvements — Enhances property's visual appeal and value. ↑
• Both HVAC system maintenance — Improves comfort and energy efficiency, attracting potential buyers/tenants. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Gateway Unified
• NCES district ID: 0614950
• Math proficiency: 25% ▼ -5.00%
• Reading proficiency: 35% ▲ 2.00%
• Median HH income: $41,888
• Composite: 25.39/100
• National rank: #7465
• State rank: #355 of 517 in CA

Livability — Redding

• Score: 76/100
• State rank: #106
• US rank: #3726

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Redding, CA
• County: Shasta County · 147,641 people
• City population: 112,523
• Metro: Redding, CA
• Population (ZIP): 44,923
• Household income: $72,445
• Rent vs Own: 41.5% rent · 58.5% own
• Severe rent burden: 1668.0

Population outlook (Shasta County) Hauer SSP2

• Today (2025): 179,231 people
• By 2030: 176,953 · -1.3%
• By 2040: 169,982 · -5.2%
• By 2050: 162,547 · -9.3%
• By 2075: 145,649 · -18.7%
• By 2100: 123,025 · -31.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 11% Two or more races 10% Asian 4% Native American 1% Black 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 5% Slovak 3% Lithuanian 3%
• Foreign-born: 6% · Canada, China
• Languages at home: 92% English-only · Spanish 3% German/W. Germanic 1% Other Asian/Pacific 1%

Political lean MEDSL · Shasta

• 2024 margin: Solid R (+36.5) · D 30.5% · R 67.0% · Other 2.5%
• 2008→2024 swing: -10.7pp toward R · 2008: -25.8pp · 2024: -36.5pp
• All cycles: 2024: R+36.5 2020: R+33.1 2016: R+37.4 2012: R+30.3 2008: R+25.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -181.66%
• Current HPI: 152.3069
• Rent YoY: ▲ 5.98%
• Metro: Redding, 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

+170.8% since first listed

3 events — show timeline

• 2026-03-14 Listed $65,000 SAOR
• 2017-03-31 Sold (MLS) $23,000 SAOR
• 2017-03-01 Listed $24,000 SAOR