460 Nevada St

Portola, CA 96122

$134,900D

2 bd · 1.0 ba · 1,092 sqft · Built 1931 · SingleFamily · Active · 47 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,083/mo
• Mortgage (P&I): −$707
• Tax + insurance: −$197
• HOA: −$0
• Vac / Maint / Mgmt: −$227
• Net cashflow: $-48/mo
• Annual: $-581/yr
• Cap rate: 5.86%
• Cash-on-cash: -1.54%
• DSCR: 0.93
• 1% rule: 0.80%
• Cash to close: $37,772

Investor read

• This is a 2-bed/1.0-bath single-family listed at $135k.
• At list price, monthly cash flow is $-48 ($-581/yr) — negative.
• To cash-flow at today's rent, offer at most $126k (6.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $108k (19.7% below list).
• It's been on market 47 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $108k (19.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 55/100 on livability (#851 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A, crime B+, cost of living B+; Watch: amenities F, commute F, employment D-.
• Plumas Unified (rural): math 21% / reading 44% proficiency, ranked #306 of 517 in CA (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: C. Roy Carmichael Elementary (346 students, 72% FRL); Quincy Junior/Senior High (math 22% / reading 47%, grade F, #618 of 1,170 statewide, top 56%, 340 students, 48% FRL) — zoned schools average 60% FRL vs 41% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1931 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 142 active listings in the ZIP; 39 units permitted in Plumas County in 2024 (0 in 5+ unit buildings).
• Plumas County population projected at -42% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Climate carrying-cost: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 47 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
• Built in 1931 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.