1025 Martin St #3 · Lakeport, CA 95453

$34,900

2 bd · 1.0 ba · 815 sqft · Land · 8 Days on market

Built 1977 5.70 ac lot $43/sqft · 19% below area Est $43k · 19% under ↓ 20% since listing

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move in ready remodeled home with newer windows, fresh paint and luxury vinyl plank flooring located in a Mobile home park for residents age 55+. Newer kitchen cabinets with pull out drawers. Nice front porch to enjoy morning coffee and visit with the neighbors. This home is located close to restaurants and shopping downtown. There is a carport and then a long driveway that leads to a storage shed, that has electricity for a freezer and charging tools. Nice and bright inside with a 7 foot by 11 foot popout area at the entry which makes it feel more spacious. Plenty of storage. The walk in closet in the primary bedroom has room for a dresser. The Seller is willing to include a 1 year Home Warranty! Sellers are motivated and already have new home to move into in process. Low fencing to keep dogs in the yard is negotiable. The park has a clubhouse for activities with a kitchen, laundry room, tables for card games and puzzles. Community BBQ area and a community dog park.

Key facts

• Recreation room
• Community garden
• Bbq area

Tags

• WHEEL CHAIR LIFT
• SHARED SOLAR
• RECREATION ROOM
• COMMUNITY LAUNDRY FACILITIES
• COMMUNITY GARDEN
• BBQ AREA

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath land listed at $35k.

Deal economics

• At list price, monthly cash flow is $966 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $35k).
• Cap rate 39.5% vs local median 3.3% in Lakeport — 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 54/100 on livability (#925 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A; Watch: health & safety C-, schools D+, employment D+.
• Lakeport Unified (town): math 13% / reading 30% proficiency, ranked #451 of 517 in CA (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 148 active listings in the ZIP; 107 units permitted in Lake County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $241 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Lake County population projected at -15% 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 $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $14k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $34,900

Questions for the listing agent

1. Built in 1977 — 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. 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?
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 4.34% ✓
• Cap rate: 39.52%
• Cash-on-cash: 118.66%
• DSCR: 6.28
• GRM: 1.9

CMA / ARV

• ARV (median comp): $42,969
• List price: $34,900
• Delta: -7.14%
• Verdict: FAIR
• Comps: 14 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 6.72×
• Total profit: $55,906
• Equity at exit: $5,204

10-year hold

• IRR: —
• Equity multiple: 14.10×
• Total profit: $127,997
• Equity at exit: $3,018

Cash invested: $9,772 (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 95453

• Active inventory: 148
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,515 medium
• Mortgage (P&I): −$183
• Tax from tax record: −$33 /mo · $394/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $966

Break-even live

Break-even rent $292

Max offer price $34,900

Occupancy floor 31%

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: $8,725
• Closing costs: $1,047
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $34,900 Active 8 DOM
2. 2026-06-18
   days on market $34,900 Active 7 DOM
3. 2026-06-17
   days on market $34,900 Active 6 DOM
4. 2026-06-16
   days on market $34,900 Active 5 DOM
5. 2026-06-15
   days on market $34,900 Active 4 DOM
6. 2026-06-14
   days on market $34,900 Active 2 DOM
7. 2026-06-12
   pricestatusdays on marketlisting id $34,900 Active 1 DOM
8. 2026-05-11
   historical
9. 2026-03-14
   price $39,900
10. 2025-11-12
    listed $49,000 Active
11. 2023-10-24
    soldstatus $45,000 Closed Sale 982-char remark

    Show marketing remark (982 chars)

    Move in ready remodeled home with newer windows, fresh paint and luxury vinyl plank flooring located in a Mobile home park for residents age 55+. Newer kitchen cabinets with pull out drawers. Nice front porch to enjoy morning coffee and visit with the neighbors. This home is located close to restaurants and shopping downtown. There is a carport and then a long driveway that leads to a storage shed, that has electricity for a freezer and charging tools. Nice and bright inside with a 7 foot by 11 foot popout area at the entry which makes it feel more spacious. Plenty of storage. The walk in closet in the primary bedroom has room for a dresser. The Seller is willing to include a 1 year Home Warranty! Sellers are motivated and already have new home to move into in process. Low fencing to keep dogs in the yard is negotiable. The park has a clubhouse for activities with a kitchen, laundry room, tables for card games and puzzles. Community BBQ area and a community dog park.

12. 2023-10-16
    status Pending Sale 982-char remark

    Show marketing remark (982 chars)

    Move in ready remodeled home with newer windows, fresh paint and luxury vinyl plank flooring located in a Mobile home park for residents age 55+. Newer kitchen cabinets with pull out drawers. Nice front porch to enjoy morning coffee and visit with the neighbors. This home is located close to restaurants and shopping downtown. There is a carport and then a long driveway that leads to a storage shed, that has electricity for a freezer and charging tools. Nice and bright inside with a 7 foot by 11 foot popout area at the entry which makes it feel more spacious. Plenty of storage. The walk in closet in the primary bedroom has room for a dresser. The Seller is willing to include a 1 year Home Warranty! Sellers are motivated and already have new home to move into in process. Low fencing to keep dogs in the yard is negotiable. The park has a clubhouse for activities with a kitchen, laundry room, tables for card games and puzzles. Community BBQ area and a community dog park.

13. 2023-09-28
    historical Active Under Contract 982-char remark

    Show marketing remark (982 chars)

    Move in ready remodeled home with newer windows, fresh paint and luxury vinyl plank flooring located in a Mobile home park for residents age 55+. Newer kitchen cabinets with pull out drawers. Nice front porch to enjoy morning coffee and visit with the neighbors. This home is located close to restaurants and shopping downtown. There is a carport and then a long driveway that leads to a storage shed, that has electricity for a freezer and charging tools. Nice and bright inside with a 7 foot by 11 foot popout area at the entry which makes it feel more spacious. Plenty of storage. The walk in closet in the primary bedroom has room for a dresser. The Seller is willing to include a 1 year Home Warranty! Sellers are motivated and already have new home to move into in process. Low fencing to keep dogs in the yard is negotiable. The park has a clubhouse for activities with a kitchen, laundry room, tables for card games and puzzles. Community BBQ area and a community dog park.

14. 2023-07-27
    status Active 982-char remark

    Show marketing remark (982 chars)

    Move in ready remodeled home with newer windows, fresh paint and luxury vinyl plank flooring located in a Mobile home park for residents age 55+. Newer kitchen cabinets with pull out drawers. Nice front porch to enjoy morning coffee and visit with the neighbors. This home is located close to restaurants and shopping downtown. There is a carport and then a long driveway that leads to a storage shed, that has electricity for a freezer and charging tools. Nice and bright inside with a 7 foot by 11 foot popout area at the entry which makes it feel more spacious. Plenty of storage. The walk in closet in the primary bedroom has room for a dresser. The Seller is willing to include a 1 year Home Warranty! Sellers are motivated and already have new home to move into in process. Low fencing to keep dogs in the yard is negotiable. The park has a clubhouse for activities with a kitchen, laundry room, tables for card games and puzzles. Community BBQ area and a community dog park.

15. 2023-07-25
    historical Active Under Contract 982-char remark

    Show marketing remark (982 chars)

    Move in ready remodeled home with newer windows, fresh paint and luxury vinyl plank flooring located in a Mobile home park for residents age 55+. Newer kitchen cabinets with pull out drawers. Nice front porch to enjoy morning coffee and visit with the neighbors. This home is located close to restaurants and shopping downtown. There is a carport and then a long driveway that leads to a storage shed, that has electricity for a freezer and charging tools. Nice and bright inside with a 7 foot by 11 foot popout area at the entry which makes it feel more spacious. Plenty of storage. The walk in closet in the primary bedroom has room for a dresser. The Seller is willing to include a 1 year Home Warranty! Sellers are motivated and already have new home to move into in process. Low fencing to keep dogs in the yard is negotiable. The park has a clubhouse for activities with a kitchen, laundry room, tables for card games and puzzles. Community BBQ area and a community dog park.

16. 2023-07-25
    status Active 982-char remark

    Show marketing remark (982 chars)

    Move in ready remodeled home with newer windows, fresh paint and luxury vinyl plank flooring located in a Mobile home park for residents age 55+. Newer kitchen cabinets with pull out drawers. Nice front porch to enjoy morning coffee and visit with the neighbors. This home is located close to restaurants and shopping downtown. There is a carport and then a long driveway that leads to a storage shed, that has electricity for a freezer and charging tools. Nice and bright inside with a 7 foot by 11 foot popout area at the entry which makes it feel more spacious. Plenty of storage. The walk in closet in the primary bedroom has room for a dresser. The Seller is willing to include a 1 year Home Warranty! Sellers are motivated and already have new home to move into in process. Low fencing to keep dogs in the yard is negotiable. The park has a clubhouse for activities with a kitchen, laundry room, tables for card games and puzzles. Community BBQ area and a community dog park.

17. 2023-07-24
    historical Active Under Contract 982-char remark

    Show marketing remark (982 chars)

    Move in ready remodeled home with newer windows, fresh paint and luxury vinyl plank flooring located in a Mobile home park for residents age 55+. Newer kitchen cabinets with pull out drawers. Nice front porch to enjoy morning coffee and visit with the neighbors. This home is located close to restaurants and shopping downtown. There is a carport and then a long driveway that leads to a storage shed, that has electricity for a freezer and charging tools. Nice and bright inside with a 7 foot by 11 foot popout area at the entry which makes it feel more spacious. Plenty of storage. The walk in closet in the primary bedroom has room for a dresser. The Seller is willing to include a 1 year Home Warranty! Sellers are motivated and already have new home to move into in process. Low fencing to keep dogs in the yard is negotiable. The park has a clubhouse for activities with a kitchen, laundry room, tables for card games and puzzles. Community BBQ area and a community dog park.

18. 2023-03-30
    listed $49,900 Active 982-char remark

    Show marketing remark (982 chars)

    Move in ready remodeled home with newer windows, fresh paint and luxury vinyl plank flooring located in a Mobile home park for residents age 55+. Newer kitchen cabinets with pull out drawers. Nice front porch to enjoy morning coffee and visit with the neighbors. This home is located close to restaurants and shopping downtown. There is a carport and then a long driveway that leads to a storage shed, that has electricity for a freezer and charging tools. Nice and bright inside with a 7 foot by 11 foot popout area at the entry which makes it feel more spacious. Plenty of storage. The walk in closet in the primary bedroom has room for a dresser. The Seller is willing to include a 1 year Home Warranty! Sellers are motivated and already have new home to move into in process. Low fencing to keep dogs in the yard is negotiable. The park has a clubhouse for activities with a kitchen, laundry room, tables for card games and puzzles. Community BBQ area and a community dog park.

ⓘ 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: $394 · $33/mo
• Projected year-2 tax: $394 · $33/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 8/10 Severe
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 28 unhealthy d/yr today · 29 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,178
• − Mortgage interest: −$1,955
• − Property taxes: −$394
• − Insurance: −$174
• − Repairs & maintenance: −$1,454
• − Management: −$1,454
• − Depreciation: −$1,015
• Taxable income: $11,731
• Est. tax owed @ 24.0%: −$2,815
• After-tax cash flow: $8,780/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: Lakeport Unified
• NCES district ID: 0620670
• Math proficiency: 13% ▼ -8.00%
• Reading proficiency: 30% ▲ 1.00%
• Median HH income: $44,332
• Composite: 18.55/100
• National rank: #8912
• State rank: #451 of 517 in CA

Livability — Lakeport

• Score: 54/100
• State rank: #925
• US rank: #24236

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lakeport, CA
• County: Lake County · 24,333 people
• City population: 11,741
• Metro: Clearlake, CA
• Population (ZIP): 11,741
• Household income: $71,419
• Rent vs Own: 21.8% rent · 78.2% own
• Severe rent burden: 250.0

Population outlook (Lake County) Hauer SSP2

• Today (2025): 62,396 people
• By 2030: 60,626 · -2.8%
• By 2040: 56,453 · -9.5%
• By 2050: 53,054 · -15.0%
• By 2075: 47,663 · -23.6%
• By 2100: 41,804 · -33.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 14% Two or more races 9% Native American 5% Asian 1%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Italian 3% Slovak 3% Romanian 2%
• Foreign-born: 6% · Canada
• Languages at home: 89% English-only · Spanish 9% Other Indo-European 1%

Political lean MEDSL · Lake

• 2024 margin: Toss-up / Even · D 47.8% · R 49.2% · Other 3.0%
• 2008→2024 swing: -20.6pp toward R · 2008: 19.3pp · 2024: -1.4pp
• All cycles: 2024: R+1.4 2020: D+6.3 2016: D+3.7 2012: D+16.5 2008: D+19.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -176.01%
• Current HPI: 155.5391
• Rent YoY: —
• Metro: Clearlake, 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

-20.0% since first listed

11 events — show timeline

• 2026-05-11 Listing Removed — CRMLS
• 2026-03-14 Price Changed $39,900 CRMLS
• 2025-11-12 Listed $49,000 CRMLS
• 2023-10-24 Sold (MLS) $45,000 CRMLS
• 2023-10-16 Pending — CRMLS
• 2023-09-28 Contingent — CRMLS
• 2023-07-27 Relisted — CRMLS
• 2023-07-25 Contingent — CRMLS
• 2023-07-25 Relisted — CRMLS
• 2023-07-24 Contingent — CRMLS
• 2023-03-30 Listed $49,900 CRMLS

Property tax history

+13.6%/yr

Latest (2025): $394 · +124.7% YoY. Source: county tax records.