609 N East B St

Alturas, CA 96101

$108,000D

2 bd · 1.0 ba · 916 sqft · Built 1929 · SingleFamily · Active · 48 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $949/mo
• Mortgage (P&I): −$566
• Tax + insurance: −$84
• HOA: −$0
• Vac / Maint / Mgmt: −$199
• Net cashflow: $99/mo
• Annual: $1,190/yr
• Cap rate: 7.40%
• Cash-on-cash: 3.94%
• DSCR: 1.18
• 1% rule: 0.88%
• Cash to close: $30,240

Investor read

• This is a 2-bed/1.0-bath single-family listed at $108k.
• At list price, monthly cash flow is $99 ($1k/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 $95k (12.2% below list).
• It's been on market 48 days — a 3% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $95k (12.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $747 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 60/100 on livability (#560 in CA) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Modoc Joint Unified (town): math 21% / reading 31% proficiency, ranked #404 of 517 in CA (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Alturas Elementary (math 27% / reading 27%, grade F, #917 of 1,571 statewide, top 60%, 389 students, 65% FRL); Modoc Middle (math 17% / reading 37%, grade F, #242 of 498 statewide, top 50%, 192 students, 67% FRL); Modoc High (math 15% / reading 24%, grade F, #987 of 1,170 statewide, top 86%, 227 students, 62% FRL).
• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 106 active listings in the ZIP; 6 units permitted in Modoc County in 2024 (0 in 5+ unit buildings).
• Modoc County population projected at -41% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 48 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1929 — 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.
• 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?
• 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.
• 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.