6945 Colusa St · Nice, CA 95464

$125,000

2 bd · 2.0 ba · 780 sqft · Land · 35 Days on market

Built 1983 5,663 sqft lot

---

Why this score? — see what drove the C 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 +23.4/30.0
• DSCR +7.5/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

SPACIOUS DOUBLE WIDE IN EXCELLENT LOCATION/GOOD NEIGHBORHOOD. 2 BEDROOM, 2 BATH, BONUS ROOM. HOME IN GOOD SHAPE. CARPORT, WORKSHOP, & SHED INCLUDED. LANDSCAPED REAR YARD. MUST SEE.

Key facts

• Covered carport
• 5,663 sq ft lot
• Built 1983

Tags

• FULLY FENCED BACKYARD
• TWO SMALL STORAGE SHEDS
• COVERED CARPORT

Property features AI

Finance

• Other: Total of 1 residential unit

Exterior

• Parking: Carport parking
• Utilities: Public/district water; Public sewer (sewer connected); Electricity connected with 220V in kitchen and laundry
• Home design: One-story manufactured home; No shared/common walls; Has a view; No accessory dwelling unit (ADU)
• Construction: Permanent foundation; Certified 433a; Shingle roofing
• Exterior features: Manufactured house; Shingle roof; Awning; Fenced yard in average condition; Yard with front yard; Paved lot and paved road frontage; Rectangular lot shape; Property is up slope from the street; Near public transit and park nearby; Dog park, fishing, lake, and park amenities nearby; No pool

Interior

• Kitchen: Electric range; Garbage disposal; Refrigerator; Breakfast counter/bar; Water heater unit (in-unit)
• Bedrooms: Two main-level bedrooms, including a primary bedroom
• Flooring: Carpet; Laminate
• Bathrooms: Two full bathrooms with bathtub and shower
• Heating & cooling: Wall/window cooling units
• Interior features: Single-level home with entry at the carport; Entry level is 1; Main level has 2 bedrooms and 2 bathrooms; All bedrooms located on the main level; Primary bedroom and primary bathroom included; Bathtub and separate shower
• Laundry & utility: Indoor laundry with washer and dryer included; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath land listed at $125k.

Deal economics

• At list price, monthly cash flow is $232 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $121k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 5.1% in Nice — 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 59/100 on livability (#652 in CA) — a working-class tenant base; expect higher turnover. Watch: health & safety C-, schools F, amenities F.
• Upper Lake Unified (rural): math 17% / reading 32% proficiency, ranked #433 of 517 in CA (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 62 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $864 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y ago 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.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 8→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $121,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-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. 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.
5. 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.
6. 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: 1.16% ✓
• Cap rate: 8.52%
• Cash-on-cash: 7.95%
• DSCR: 1.35
• GRM: 7.2

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: -4.1%
• Equity multiple: 0.84×
• Total profit: $-5,432
• Equity at exit: $18,638

10-year hold

• IRR: 5.6%
• Equity multiple: 1.41×
• Total profit: $14,508
• Equity at exit: $10,808

Cash invested: $35,000 (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 95464

• Home prices YoY: -20.2%
• Active inventory: 62
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,454 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$209 /mo · $2,512/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $232

Break-even live

Break-even rent $1,161

Max offer price $125,000

Occupancy floor 79%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6667 Blue Heron Dr Apt H Upper Lake, CA	1.0	1.0	600	$1,298	$2.16	44d	1	0.39mi
6687 Blue Heron Dr Unit 6607 D Upper Lake, CA	2.0	1.5	900	$1,598	$1.78	44d	1	0.40mi
6687 Blue Heron Dr Unit 6667 H Upper Lake, CA	1.0	1.0	600	$1,298	$2.16	44d	1	0.40mi
6627 Blue Heron Dr Unit A Upper Lake, CA	2.0	1.5	900	$1,598	$1.78	44d	1	0.42mi

Listing history 22 events

1. 2026-06-19
   days on market $125,000 Active 35 DOM
2. 2026-06-18
   days on market $125,000 Active 34 DOM
3. 2026-06-17
   days on market $125,000 Active 33 DOM
4. 2026-06-16
   days on market $125,000 Active 32 DOM
5. 2026-06-15
   days on market $125,000 Active 31 DOM
6. 2026-06-14
   days on market $125,000 Active 29 DOM
7. 2026-06-12
   days on market $125,000 Active 28 DOM
8. 2026-06-09
   days on market $125,000 Active 25 DOM
9. 2026-06-08
   days on market $125,000 Active 24 DOM
10. 2026-06-07
    days on market $125,000 Active 23 DOM
11. 2026-06-03
    days on market $125,000 Active 19 DOM
12. 2026-06-02
    days on market $125,000 Active 18 DOM
13. 2026-06-01
    days on market $125,000 Active 17 DOM
14. 2026-05-31
    days on market $125,000 Active 16 DOM
15. 2026-05-30
    days on market $125,000 Active 15 DOM
16. 2026-05-15
    listed $125,000 Active
17. 2005-03-03
    soldstatus $135,000 185-char remark

    Show marketing remark (185 chars)

    SPACIOUS DOUBLE WIDE IN EXCELLENT LOCATION/GOOD NEIGHBORHOOD. 2 BEDROOM, 2 BATH, BONUS ROOM. HOME IN GOOD SHAPE. CARPORT, WORKSHOP, & SHED INCLUDED. LANDSCAPED REAR YARD. MUST SEE.

18. 2005-03-03
    soldstatus $135,000

    Show marketing remark (185 chars)

    SPACIOUS DOUBLE WIDE IN EXCELLENT LOCATION/GOOD NEIGHBORHOOD. 2 BEDROOM, 2 BATH, BONUS ROOM. HOME IN GOOD SHAPE. CARPORT, WORKSHOP, & SHED INCLUDED. LANDSCAPED REAR YARD. MUST SEE.

19. 2004-09-30
    historical
20. 2004-03-28
    listed $138,000 185-char remark

    Show marketing remark (185 chars)

    SPACIOUS DOUBLE WIDE IN EXCELLENT LOCATION/GOOD NEIGHBORHOOD. 2 BEDROOM, 2 BATH, BONUS ROOM. HOME IN GOOD SHAPE. CARPORT, WORKSHOP, & SHED INCLUDED. LANDSCAPED REAR YARD. MUST SEE.

21. 2004-03-27
    listed $138,000
22. 1998-07-29
    soldstatus $16,000

ⓘ 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: $2,512 · $209/mo
• Projected year-2 tax: $2,512 · $209/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 9/10 Extreme
• 🌡 Heat 6/10 Major 8 d/yr ≥101°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 34 unhealthy d/yr today · 36 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,450
• − Mortgage interest: −$7,002
• − Property taxes: −$2,512
• − Insurance: −$625
• − Repairs & maintenance: −$1,396
• − Management: −$1,396
• − Depreciation: −$3,636
• Taxable income: $883
• Est. tax owed @ 24.0%: −$212
• After-tax cash flow: $2,571/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: Upper Lake Unified
• NCES district ID: 0601442
• Math proficiency: 17% ▼ -3.00%
• Reading proficiency: 32% ▲ 1.00%
• Median HH income: $35,872
• Composite: 20.24/100
• National rank: #8624
• State rank: #433 of 517 in CA

Livability — Nice

• Score: 59/100
• State rank: #652
• US rank: #20328

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Nice, CA
• City population: 2,417
• Population (ZIP): 2,417

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 55% Hispanic / Latino 29% Native American 17% Asian 3%
• Hispanic origin (detail): Mexican 28%
• Common ancestry: Lithuanian 2% Scotch-Irish 1% Italian 1%
• Foreign-born: 9% · Canada
• Languages at home: 78% English-only · Spanish 20%

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: ▼ -44.76%
• Current HPI: 177.0701
• 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

+681.2% since first listed

7 events — show timeline

• 2026-05-15 Listed $125,000 CRMLS
• 2005-03-03 Sold (Public Records) $135,000 Public Records
• 2005-03-03 Sold (MLS) $135,000 CRMLS
• 2004-09-30 Listing Removed — CRMLS
• 2004-03-28 Listed $138,000 CRMLS
• 2004-03-27 Listed $138,000 CRMLS
• 1998-07-29 Sold (Public Records) $16,000 Public Records

Property tax history

+3.0%/yr

Latest (2025): $2,512 · +2.0% YoY. Source: county tax records.