2011 Parkway Dr · Bertsch-Oceanview, CA 95531

$95,000

2 bd · 1.0 ba · 1,304 sqft · Other public records · 84 Days on market

Built 1948 0.79 ac lot $73/sqft · 79% below area ↓ 27% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This property is beautiful its many Redwood Trees. Home and grounds need some TLC, but there is potential for a super cute location. This home was built in 1948 and offers 1,304 sq. ft.

Key facts

• 0.79 acre lot
• Built 1948
• Listed 83 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $95k.

Deal economics

• At list price, monthly cash flow is $714 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $89k (6.0% below list) — sets the bar for market timing.
• Cap rate 15.3% vs local median 3.1% in Bertsch-Oceanview — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Del Norte County Unified (town): math 25% / reading 36% proficiency, ranked #1,047 of 1,400 in CA (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 226 active listings in the ZIP; 55 units permitted in Del Norte County in 2024 (22 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Del Norte County population projected at -14% 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 $27k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($89k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.85% ✓
• Cap rate: 15.32%
• Cash-on-cash: 32.22%
• DSCR: 2.43
• GRM: 4.5

CMA / ARV

• ARV (median comp): $316,978
• List price: $95,000
• Delta: -65.30%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 27.3%
• Equity multiple: 2.13×
• Total profit: $30,138
• Equity at exit: $14,165

10-year hold

• IRR: 34.8%
• Equity multiple: 4.19×
• Total profit: $84,981
• Equity at exit: $8,214

Cash invested: $26,600 (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 95531

• Active inventory: 226
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,759 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$138 /mo · $1,654/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $714

Break-even live

Break-even rent $855

Max offer price $95,000

Occupancy floor 54%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-12
   days on market $95,000 Active 84 DOM
2. 2026-06-09
   days on market $95,000 Active 81 DOM
3. 2026-06-08
   days on market $95,000 Active 80 DOM
4. 2026-06-07
   days on market $95,000 Active 79 DOM
5. 2026-06-07
   days on market $95,000 Active 78 DOM
6. 2026-06-04
   days on market $95,000 Active 75 DOM
7. 2026-06-02
   days on market $95,000 Active 74 DOM
8. 2026-06-01
   days on market $95,000 Active 73 DOM
9. 2026-05-31
   days on market $95,000 Active 72 DOM
10. 2026-05-31
    days on market $95,000 Active 71 DOM
11. 2026-04-09
    price $110,000 185-char remark

    Show marketing remark (185 chars)

    This property is beautiful its many Redwood Trees. Home and grounds need some TLC, but there is potential for a super cute location. This home was built in 1948 and offers 1,304 sq. ft.

12. 2026-03-30
    price $125,000 185-char remark

    Show marketing remark (185 chars)

    This property is beautiful its many Redwood Trees. Home and grounds need some TLC, but there is potential for a super cute location. This home was built in 1948 and offers 1,304 sq. ft.

13. 2026-03-20
    listed $150,000 Active 185-char remark

    Show marketing remark (185 chars)

    This property is beautiful its many Redwood Trees. Home and grounds need some TLC, but there is potential for a super cute location. This home was built in 1948 and offers 1,304 sq. ft.

ⓘ 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: $1,654 · $138/mo
• Projected year-2 tax: $1,654 · $138/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 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥76°F today · 22 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 8 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,112
• − Mortgage interest: −$5,321
• − Property taxes: −$1,654
• − Insurance: −$475
• − Repairs & maintenance: −$1,689
• − Management: −$1,689
• − Depreciation: −$2,764
• Taxable income: $7,520
• Est. tax owed @ 24.0%: −$1,805
• After-tax cash flow: $6,767/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: Del Norte County Unified
• NCES district ID: 0610770
• Math proficiency: 25% ▲ 1.00%
• Reading proficiency: 36% ▲ 1.00%
• Median HH income: $39,747
• Composite: 28.43/100
• National rank: #12110
• State rank: #1047 of 1400 in CA

Livability — Bertsch-Oceanview

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 22,491

Population outlook (Del Norte County) Hauer SSP2

• Today (2025): 25,011 people
• By 2030: 24,204 · -3.2%
• By 2040: 22,826 · -8.7%
• By 2050: 21,495 · -14.1%
• By 2075: 18,487 · -26.1%
• By 2100: 16,113 · -35.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 61% Hispanic / Latino 20% Two or more races 12% Native American 5% Asian 4% Black 3%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Slovak 4% Russian 2% Lithuanian 2%
• Foreign-born: 8% · Canada, Vietnam, South Korea
• Languages at home: 88% English-only · Spanish 8% Other Asian/Pacific 2% Vietnamese 1%

Political lean MEDSL · Del Norte

• 2024 margin: R (+16.4) · D 40.4% · R 56.8% · Other 2.8%
• 2008→2024 swing: -9.7pp toward R · 2008: -6.8pp · 2024: -16.4pp
• All cycles: 2024: R+16.4 2020: R+15.6 2016: R+17.6 2012: R+10.8 2008: R+6.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -300.53%
• Current HPI: 148.4819
• 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

-26.7% since first listed

3 events — show timeline

• 2026-04-09 Price Changed $110,000 DNAORMLS
• 2026-03-30 Price Changed $125,000 DNAORMLS
• 2026-03-20 Listed $150,000 DNAORMLS

Property tax history

+16.8%/yr

Latest (2025): $1,654 · +312.8% YoY. Source: county tax records.