2810 Bechelli Ln Spc D6

Redding, CA 96002

$44,900B

2 bd · 2.0 ba · 648 sqft · Built 1990 · Manufactured · Pending · 46 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,388/mo
• Mortgage (P&I): −$235
• Tax + insurance: −$75
• HOA: −$0
• Vac / Maint / Mgmt: −$291
• Net cashflow: $786/mo
• Annual: $9,433/yr
• Cap rate: 27.30%
• Cash-on-cash: 75.03%
• DSCR: 4.34
• 1% rule: 3.09%
• Cash to close: $12,572

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $45k.
• At list price, monthly cash flow is $786 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• It's been on market 46 days — a 3% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $44k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $310 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• 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.
• Shasta Union High (urban): math 41% / reading 67% proficiency, ranked #122 of 517 in CA (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Zoned schools: Rother Elementary (math 17% / reading 17%, grade F, #1,340 of 1,571 statewide, top 88%, 277 students, 86% FRL); Parsons Junior High (math 26% / reading 42%, grade F, #192 of 498 statewide, top 39%, 483 students, 84% FRL); Enterprise High (math 33% / reading 61%, grade D-, #389 of 1,170 statewide, top 35%, 1,109 students, 60% FRL) — zoned schools average 77% FRL vs 16% district-wide (60 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 33% at this address vs 54% district-wide (-21 pts) — the specific schools serving this property underperform the Shasta Union High average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.9%/yr); 286 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 246 units permitted in Shasta County in 2024 (0 in 5+ unit buildings).
• 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 + 1.9% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 27.3% 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.

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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.