7360 Lassen St · Nice, CA 95464

$99,500

2 bd · 1.0 ba · 728 sqft · Land · 252 Days on market

Built 1981 7,841 sqft lot

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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 +8.0/10.0
• ARV discount +7.5/15.0
• 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

Two bedroom, one bathroom manufactured home situated on its own private lot, could be an investment opportunity! The home features an open floor plan, great natural lighting, updated kitchen cabinets, and a large deck outside of the living room. The partially fenced large lot offers nice sized area for gardening, with a shed for added storage.

Key facts

• Natural lighting
• Large deck
• Open floor plan

Tags

• PRIVATE LOT
• OPEN FLOOR PLAN
• NATURAL LIGHTING
• UPDATED KITCHEN CABINETS
• LARGE DECK
• PARTIALLY FENCED LOT

Property features AI

Finance

• Other: Zoning: R1; No ADU; Single-unit property; No common walls; Living area and year built source: Assessor
• Financial info: Assessments: Unknown
• HOA & community: Community offers watersports, biking, hiking, fishing, lake access, foothills, mountainous terrain, and nearby BLM/National Forest

Exterior

• Parking: Driveway (unpaved) with uphill slope from street; Has parking
• Security: Carbon monoxide detector(s); Smoke detector
• Utilities: 220V in kitchen; Public sewer; Public/district water; Electricity connected; Sewer connected; Water connected
• Home design: One story; Entry level 1; Ground-level entry with steps; Has view
• Construction: Manufactured construction
• Exterior features: Manufactured house; Covered wood rear porch and deck; Awning; Shed on property; No pool; Fenced (good condition); Treed lot; Up slope from street; Unpaved road access

Interior

• Kitchen: Refrigerator; Electric range; Formica counters; Eating area in kitchen; Kitchen open to family room
• Bedrooms: 2 main-level bedrooms
• Flooring: Vinyl; Carpet; Bamboo
• Bathrooms: 1 full bathroom with shower-in-tub
• Heating & cooling: Central furnace heating; Evaporative cooling
• Interior features: Open floor plan; Attached living room deck; Entry at ground level with steps; One-level home
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry area located outside

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath land listed at $100k.

Deal economics

• At list price, monthly cash flow is $387 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.0% 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; 2 comparable units currently listed for rent nearby; 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 $688 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 252 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $44k; list at $100k implies a 129% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 8→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 252 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.30% ✓
• Cap rate: 10.96%
• Cash-on-cash: 16.68%
• DSCR: 1.74
• GRM: 6.4

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: 7.8%
• Equity multiple: 1.31×
• Total profit: $8,533
• Equity at exit: $14,836

10-year hold

• IRR: 17.1%
• Equity multiple: 2.41×
• Total profit: $39,149
• Equity at exit: $8,603

Cash invested: $27,860 (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: 6.4×

Monthly cashflow live

• Estimated rent: $1,298 medium
• Mortgage (P&I): −$522
• Tax from tax record: −$75 /mo · $899/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $387

Break-even live

Break-even rent $808

Max offer price $99,500

Occupancy floor 65%

Sensitivity live

Price	-10% $444	-5% $415	+0% $387	+5% $359	+10% $331
Rent	-10% $285	-5% $336	+0% $387	+5% $439	+10% $490
Rate	-1.0pp $437	-0.5pp $413	base $387	+0.5pp $362	+1.0pp $335

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: $24,875
• Closing costs: $2,985
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	0.88mi
6687 Blue Heron Dr Unit 6667 H Upper Lake, CA	1.0	1.0	600	$1,298	$2.16	44d	1	0.89mi

Listing history 20 events

1. 2026-06-19
   days on market $99,500 Active 252 DOM
2. 2026-06-18
   days on market $99,500 Active 251 DOM
3. 2026-06-17
   days on market $99,500 Active 250 DOM
4. 2026-06-16
   days on market $99,500 Active 249 DOM
5. 2026-06-15
   days on market $99,500 Active 248 DOM
6. 2026-06-14
   days on market $99,500 Active 246 DOM
7. 2026-06-12
   days on market $99,500 Active 245 DOM
8. 2026-06-09
   days on market $99,500 Active 242 DOM
9. 2026-06-08
   days on market $99,500 Active 241 DOM
10. 2026-06-07
    days on market $99,500 Active 240 DOM
11. 2026-06-03
    days on market $99,500 Active 236 DOM
12. 2026-06-02
    days on market $99,500 Active 235 DOM
13. 2026-06-01
    days on market $99,500 Active 234 DOM
14. 2026-05-31
    days on market $99,500 Active 233 DOM
15. 2026-05-30
    days on market $99,500 Active 232 DOM
16. 2026-02-09
    price $99,500 345-char remark

    Show marketing remark (345 chars)

    Two bedroom, one bathroom manufactured home situated on its own private lot, could be an investment opportunity! The home features an open floor plan, great natural lighting, updated kitchen cabinets, and a large deck outside of the living room. The partially fenced large lot offers nice sized area for gardening, with a shed for added storage.

17. 2025-12-09
    price $99,500
18. 2025-10-12
    listed $114,800 Active 345-char remark

    Show marketing remark (345 chars)

    Two bedroom, one bathroom manufactured home situated on its own private lot, could be an investment opportunity! The home features an open floor plan, great natural lighting, updated kitchen cabinets, and a large deck outside of the living room. The partially fenced large lot offers nice sized area for gardening, with a shed for added storage.

19. 2025-10-10
    listed $114,800 Active
20. 2001-03-29
    soldstatus $43,500

ⓘ 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: $899 · $75/mo
• Projected year-2 tax: $899 · $75/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 · 17 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: $15,576
• − Mortgage interest: −$5,574
• − Property taxes: −$899
• − Insurance: −$498
• − Repairs & maintenance: −$1,246
• − Management: −$1,246
• − Depreciation: −$2,895
• Taxable income: $3,220
• Est. tax owed @ 24.0%: −$773
• After-tax cash flow: $3,875/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

+128.7% since first listed

5 events — show timeline

• 2026-02-09 Price Changed $99,500 BAREIS
• 2025-12-09 Price Changed $99,500 CRMLS
• 2025-10-12 Listed $114,800 BAREIS
• 2025-10-10 Listed $114,800 CRMLS
• 2001-03-29 Sold (Public Records) $43,500 Public Records

Property tax history

+1.7%/yr

Latest (2025): $899 · -1.0% YoY. Source: county tax records.