23555 Highway 26

West Point, CA 95255

$131,100D+

1 bd · 1.0 ba · 732 sqft · Built 1967 · SingleFamily · Active · 235 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,170/mo
• Mortgage (P&I): −$688
• Tax + insurance: −$264
• HOA: −$0
• Vac / Maint / Mgmt: −$246
• Net cashflow: $-27/mo
• Annual: $-318/yr
• Cap rate: 6.05%
• Cash-on-cash: -0.87%
• DSCR: 0.96
• 1% rule: 0.89%
• Cash to close: $36,708

Investor read

• This is a 1-bed/1.0-bath single-family listed at $131k.
• At list price, monthly cash flow is $-27 ($-318/yr) — negative.
• To cash-flow at today's rent, offer at most $126k (3.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $117k (10.7% below list).
• It's been on market 235 days — a 12% lower offer ($115k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $115k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($906 loan paydown + $1k appreciation (1.1% local appreciation)).
• Location reads 41/100 on livability (#1,375 in CA) — a working-class tenant base; expect higher turnover. Strengths: crime A, cost of living B; Watch: amenities F, commute F, employment F.
• Calaveras Unified (rural): math 16% / reading 28% proficiency, ranked #436 of 517 in CA (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: West Point Elementary (math 24% / reading 34%, grade F, #856 of 1,571 statewide, top 57%, 121 students, 69% FRL); Toyon Middle (math 14% / reading 29%, grade F, #400 of 498 statewide, top 82%, 531 students, 46% FRL); Calaveras High (math 27% / reading 52%, grade F, #532 of 1,170 statewide, top 48%, 746 students, 36% FRL) — zoned schools at 50% FRL track the district average.
• Market conditions: 37 active listings in the ZIP; 77 units permitted in Calaveras County in 2024 (0 in 5+ unit buildings).
• Calaveras County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.1% appreciation + 3.0% rent growth), your $37k cash investment doubles in ~10 years — after that, you're playing with house money.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 6→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 235 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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?
• 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.