481 Twin View Blvd #63

Redding, CA 96003

$28,000C

2 bd · 2.0 ba · 1,000 sqft · Built — · Manufactured · Active · 263 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,153/mo
• Mortgage (P&I): −$147
• Tax + insurance: −$47
• HOA: −$0
• Vac / Maint / Mgmt: −$242
• Net cashflow: $718/mo
• Annual: $8,611/yr
• Cap rate: 37.05%
• Cash-on-cash: 109.83%
• DSCR: 5.89
• 1% rule: 4.12%
• Cash to close: $7,840

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $28k. Condition is rated fair.
• At list price, monthly cash flow is $718 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $28k).
• It's been on market 263 days — a 12% lower offer ($25k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $25k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $194 of loan paydown is wiped out by about $840 of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#106 in CA, #3,726 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment C-, crime F, cost of living F.
• Gateway Unified (suburban): math 25% / reading 35% proficiency, ranked #355 of 517 in CA (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Shasta Lake (math 27% / reading 36%, grade F, #816 of 1,571 statewide, top 52%, 616 students, 74% FRL); Central Valley High (math 42% / reading 67%, grade C-, #256 of 1,170 statewide, top 24%, 625 students, 60% FRL).
• Zoned-school proficiency averages 43% at this address vs 30% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Gateway Unified average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+6.0%/yr); 511 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals lingering (median 63d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 246 units permitted in Shasta County in 2024 (0 in 5+ unit buildings).
• Shasta County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $12k (30%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 6.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 6→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 37.0% vs local median 3.4% in Redding — 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.

Questions for listing agent

• It's been on market 263 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: exterior siding — Severe weathering and peeling
• Major: interior paint — Worn and peeling paint
• Major: flooring — Worn carpet in living and dining areas