148 Pike St · Bertsch-Oceanview, CA 95531

$99,000

1 bd · 1.0 ba · 624 sqft · SingleFamily public records · 23 Days on market

Built 1960 0.72 ac lot ↓ 48% since listing

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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
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• ARV discount +7.5/15.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Endless Potential on a Private Multi-Family Parcel - Unlock the possibilities with this rare investment opportunity tucked away at the end of a quiet road. Set on a private . 72-acre lot, this multi-family zoned property features two homes ready for transformation. Yes, this is a true fixer-upper—both structures require extensive repairs—but for the right buyer, this is where vision meets value. Whether you’re an experienced investor, contractor, or someone looking to create something special from the ground up, this property offers a blank canvas with serious upside. Surrounded by peace and privacy, the setting alone makes this worth a closer look. Bring your ideas, your

Key facts

• 0.72 acre lot
• Built 1960
• Listed 22 days

Tags

• PRIVATE MULTI-FAMILY PARCEL
• MULTI-FAMILY ZONED PROPERTY
• INVESTMENT OPPORTUNITY

Property features AI

Finance

• Other: Listing agent: Eric Dremann — Cell: 541-254-3594; Listing broker: RE/MAX Coastal Redwoods — 707-464-5400

Exterior

• Utilities: Public water; Sewer connected
• Home design: Single-family residence
• Construction: Built as a single-family home
• Exterior features: Approximately 0.72-acre lot; Zoned for multiple residence

Interior

• Interior features: Residential single-family interior

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $381 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.9% vs local median 3.1% in Bertsch-Oceanview — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Del Norte County Unified (town): math 25% / reading 36% proficiency, ranked #1,047 of 1,400 in CA (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 230 active listings in the ZIP; 55 units permitted in Del Norte County in 2024 (22 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Del Norte County population projected at -14% 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 $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.

Recommended offer $97,515 (1.5% below list)

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.38% ✓
• Cap rate: 10.92%
• Cash-on-cash: 16.51%
• DSCR: 1.73
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 7.6%
• Equity multiple: 1.30×
• Total profit: $8,283
• Equity at exit: $14,761

10-year hold

• IRR: 16.9%
• Equity multiple: 2.39×
• Total profit: $38,611
• Equity at exit: $8,560

Cash invested: $27,720 (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 95531

• Active inventory: 230
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,363 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$135 /mo · $1,617/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $381

Break-even live

Break-even rent $880

Max offer price $99,000

Occupancy floor 67%

Sensitivity live

Price	-10% $438	-5% $410	+0% $381	+5% $353	+10% $325
Rent	-10% $274	-5% $328	+0% $381	+5% $435	+10% $489
Rate	-1.0pp $431	-0.5pp $407	base $381	+0.5pp $356	+1.0pp $330

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-21
   days on market $99,000 Active 23 DOM
2. 2026-06-19
   days on market $99,000 Active 21 DOM
3. 2026-06-18
   days on market $99,000 Active 20 DOM
4. 2026-06-17
   days on market $99,000 Active 19 DOM
5. 2026-06-16
   days on market $99,000 Active 18 DOM
6. 2026-06-15
   days on market $99,000 Active 17 DOM
7. 2026-06-14
   days on market $99,000 Active 15 DOM
8. 2026-06-13
   remarks 681-char remark
9. 2026-06-13
   listed $99,000 Active 14 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: $1,617 · $135/mo
• Projected year-2 tax: $1,617 · $135/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 2/10 Low 9 d/yr ≥77°F today · 28 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 8 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,355
• − Mortgage interest: −$5,546
• − Property taxes: −$1,617
• − Insurance: −$495
• − Repairs & maintenance: −$1,308
• − Management: −$1,308
• − Depreciation: −$2,880
• Taxable income: $3,200
• Est. tax owed @ 24.0%: −$768
• After-tax cash flow: $3,810/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: Del Norte County Unified
• NCES district ID: 0610770
• Math proficiency: 25% ▲ 1.00%
• Reading proficiency: 36% ▲ 1.00%
• Median HH income: $39,747
• Composite: 28.43/100
• National rank: #12110
• State rank: #1047 of 1400 in CA

Livability — Bertsch-Oceanview

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Bertsch-Oceanview, CA
• Population (ZIP): 22,491

Population outlook (Del Norte County) Hauer SSP2

• Today (2025): 25,011 people
• By 2030: 24,204 · -3.2%
• By 2040: 22,826 · -8.7%
• By 2050: 21,495 · -14.1%
• By 2075: 18,487 · -26.1%
• By 2100: 16,113 · -35.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 61% Hispanic / Latino 20% Two or more races 12% Native American 5% Asian 4% Black 3%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Slovak 4% Russian 2% Lithuanian 2%
• Foreign-born: 8% · Canada, Vietnam, South Korea
• Languages at home: 88% English-only · Spanish 8% Other Asian/Pacific 2% Vietnamese 1%

Political lean MEDSL · Del Norte

• 2024 margin: R (+16.4) · D 40.4% · R 56.8% · Other 2.8%
• 2008→2024 swing: -9.7pp toward R · 2008: -6.8pp · 2024: -16.4pp
• All cycles: 2024: R+16.4 2020: R+15.6 2016: R+17.6 2012: R+10.8 2008: R+6.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -300.53%
• Current HPI: 148.4819
• Rent YoY: —
• Metro: —
• 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

-47.9% since first listed

5 events — show timeline

• 2026-06-13 Relisted — DNAORMLS
• 2026-04-15 Listed $99,000 DNAORMLS
• 2026-01-14 Price Changed $149,900 IMLS
• 2025-12-13 Price Changed $159,900 IMLS
• 2025-07-27 Listed $189,900 IMLS

Property tax history

+0.9%/yr

Latest (2025): $1,617 · +5.5% YoY. Source: county tax records.