1020 Washington St · Red Bluff, CA 96080

$425,000

5 bd · 4.0 ba · 2,612 sqft · MultiFamily public records · 15 Days on market

Built 2004

---

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 +21.0/30.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• 1% rule +4.6/10.0
• Livability +2.9/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Rare opportunity to own a beautifully maintained tri-plex that seamlessly blends historic charm with modern convenience. This distinctive property features classic architectural details, high ceilings, and craftsmanship throughout. The building offers three well-appointed residential units, each with spacious living areas, abundant natural light, and unique character. Updated kitchens and baths provide contemporary comfort while preserving the home's original appeal. Situated on a desirable lot, the property includes outdoor space for tenants to enjoy, ample storage, and convenient parking. Whether you're an investor seeking strong rental income, an owner-occupant looking to offset expenses, or someone who appreciates architecture, this tri-plex presents exceptional flexibility and long-term value. Ideally located near shopping, dining, parks, public transportation, and major commuter routes, this charming property offers the perfect combination of lifestyle, location, and income-producing potential.

Key facts

• Updated baths
• Historic charm
• Updated kitchens

Tags

• HISTORIC CHARM
• LARGE WRAP AROUND PORCH
• UPDATED KITCHENS
• UPDATED BATHS
• OUTDOOR SPACE
• CONVENIENT PARKING

Property features AI

Exterior

• Parking: Carport with 3 spaces; On-street parking available
• Home design: Residential income property
• Construction: Stucco construction
• Exterior features: Directions: From Main Street in Red Bluff, turn right on Cedar Street, then right on Washington Street. Property is on the right.; Cross street: Cedar Street

What this means for you Summary

Snapshot

• This is a 5-bed/4.0-bath multifamily listed at $425k.

Deal economics

• At list price, monthly cash flow is $597 ($7k/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 $409k (3.7% below list).
• Recommended offer: $409k (3.7% below list) — sets the bar for 1% rule.
• Cap rate 8.0% vs local median 3.7% in Red Bluff — 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 (#698 in CA) — a working-class tenant base; expect higher turnover. Strengths: health & safety A+, housing A-; Watch: cost of living D, crime F, amenities F.
• Red Bluff Union Elementary (town): math 20% / reading 31% proficiency, ranked #418 of 517 in CA (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 262 active listings in the ZIP; 186 units permitted in Tehama County in 2024 (0 in 5+ unit buildings).
• At $4,092/mo this rent would consume 74% of the median local household income ($66k/yr) (locally 981% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Tehama County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($419k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 20y 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 $238k; list at $425k implies a 79% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 6→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $409,200 (3.7% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 0.96% ✗
• Cap rate: 7.98%
• Cash-on-cash: 6.02%
• DSCR: 1.27
• GRM: 8.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.98% rent growth · sell at horizon

5-year hold

• IRR: -9.1%
• Equity multiple: 0.67×
• Total profit: $-39,139
• Equity at exit: $63,369

10-year hold

• IRR: -2.4%
• Equity multiple: 0.85×
• Total profit: $-17,770
• Equity at exit: $36,746

Cash invested: $119,000 (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 96080

• Rents YoY: 1.0%
• Active inventory: 262
• Price-to-rent: 25.4×

Monthly cashflow live

• Estimated rent: $4,092 high
• Mortgage (P&I): −$2,229
• Tax from tax record: −$230 /mo · $2,762/yr
• Insurance: −$177
• HOA: −$0
• Vacancy / Maint / Mgmt: −$859
• Net cashflow: $597

Break-even live

Break-even rent $3,337

Max offer price $425,000

Occupancy floor 80%

Sensitivity live

Price	-10% $837	-5% $717	+0% $597	+5% $476	+10% $356
Rent	-10% $273	-5% $435	+0% $597	+5% $758	+10% $920
Rate	-1.0pp $811	-0.5pp $705	base $597	+0.5pp $487	+1.0pp $375

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

Units	Beds	Baths	Est. rent
1× unit	2	2	$1,395
1× unit	2	1	$1,395
1× unit	1	1	$1,301
Total (3 units)			$4,092

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: $106,250
• Closing costs: $12,750
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-19
   days on market $425,000 Active 15 DOM
2. 2026-06-18
   days on market $425,000 Active 14 DOM
3. 2026-06-17
   days on market $425,000 Active 13 DOM
4. 2026-06-16
   days on market $425,000 Active 12 DOM
5. 2026-06-15
   days on market $425,000 Active 11 DOM
6. 2026-06-14
   days on market $425,000 Active 9 DOM
7. 2026-06-12
   days on market $425,000 Active 8 DOM
8. 2026-06-09
   days on market $425,000 Active 5 DOM
9. 2026-06-08
   days on market $425,000 Active 4 DOM
10. 2026-06-07
    days on market $425,000 Active 3 DOM
11. 2026-06-05
    remarks 699-char remark
12. 2026-06-05
    listed $425,000 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: $2,762 · $230/mo
• Projected year-2 tax: $3,230 · $269/mo
• Expected delta: +$468/yr (+$39/mo · 17.0%)

ⓘ 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 8/10 Severe
• 🌡 Heat 8/10 Severe 6 d/yr ≥105°F today · 13 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: $49,104
• − Mortgage interest: −$23,807
• − Property taxes: −$2,762
• − Insurance: −$2,125
• − Repairs & maintenance: −$3,928
• − Management: −$3,928
• − Depreciation: −$12,364
• Taxable income: $191
• Est. tax owed @ 24.0%: −$46
• After-tax cash flow: $7,115/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: Red Bluff Union Elementary
• NCES district ID: 0631980
• Math proficiency: 20% ▼ -15.00%
• Reading proficiency: 31% ▼ -9.00%
• Median HH income: $37,109
• Composite: 21.2/100
• National rank: #8416
• State rank: #418 of 517 in CA

Livability — Red Bluff

• Score: 58/100
• State rank: #698
• US rank: #21144

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Red Bluff, CA
• County: Tehama County · 31,554 people
• City population: 31,554
• Metro: Red Bluff, CA
• Population (ZIP): 31,554
• Household income: $66,076
• Rent vs Own: 36.3% rent · 63.7% own
• Severe rent burden: 981.0

Population outlook (Tehama County) Hauer SSP2

• Today (2025): 61,058 people
• By 2030: 59,493 · -2.6%
• By 2040: 56,076 · -8.2%
• By 2050: 52,372 · -14.2%
• By 2075: 43,895 · -28.1%
• By 2100: 34,186 · -44.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 19% Two or more races 13% Native American 3% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 89% English-only · Spanish 9%

Political lean MEDSL · Tehama

• 2024 margin: Solid R (+41.8) · D 27.9% · R 69.7% · Other 2.3%
• 2008→2024 swing: -17.7pp toward R · 2008: -24.1pp · 2024: -41.8pp
• All cycles: 2024: R+41.8 2020: R+35.6 2016: R+36.8 2012: R+27.4 2008: R+24.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -139.80%
• Current HPI: 246.877
• Rent YoY: ▲ 0.98%
• Metro: Red Bluff, 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

+37.1% since first listed

13 events — show timeline

• 2026-06-02 Listed $425,000 TCAOR
• 2026-06-02 Listed $425,000 SAOR
• 2018-07-02 Sold (Public Records) $238,000 Public Records
• 2018-07-02 Sold (MLS) $238,000 CRMLS
• 2018-07-02 Sold (MLS) $238,000 TCAOR
• 2018-03-16 Listed $255,000 CRMLS
• 2018-03-16 Listed $255,000 TCAOR
• 2007-11-26 Sold (Public Records) $315,000 Public Records
• 2007-11-26 Sold (MLS) $315,000 CRMLS
• 2006-08-31 Listing Removed — CRMLS
• 2006-03-10 Listed $369,000 CRMLS
• 2005-01-12 Sold (Public Records) $310,000 Public Records
• 2005-01-12 Sold (MLS) $310,000 CRMLS

Property tax history

+1.3%/yr

Latest (2025): $2,762 · +2.3% YoY. Source: county tax records.