3701 Risher Dr · Clearlake, CA 95422

$159,000

3 bd · 2.0 ba · 56 sqft · Land public records · 31 Days on market

Built 1972 0.53 ac lot

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Why this score? — see what drove the D- 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 +12.3/30.0
• ARV discount +7.5/15.0
• DSCR +3.6/10.0
• Livability +3.1/5.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Three-bedroom Two bath home on a large lot right in Clearlake close to shopping in amenities. As you approach the property, you'll notice ample parking for all your needs with plenty of room for guests and toys, ensuring room for everyone. Enjoy plenty of shade and forest like setting this property has to offer. Seller will finance.

Key facts

• Ample parking
• Forest like setting
• Large lot

Tags

• LARGE LOT
• AMPLE PARKING
• FOREST LIKE SETTING

Property features AI

Finance

• Other: Living area estimated
• HOA & community: Community offers hiking, fishing, mountainous terrain, BLM/National Forest access, lake access, and hunting

Exterior

• Parking: Direct garage access; 1 garage/parking space
• Utilities: Public sewer; District/public water
• Home design: Single-story (1 story); No common walls; No accessory dwelling unit (ADU)
• Construction: Year built reported by builder; Foundation certification: No
• Exterior features: Manufactured house; No pool; Lot generally between 0 and 1 unit per acre; Property has a view

Interior

• Bedrooms: Bedrooms are on the main level
• Bathrooms: 2 full bathrooms; At least 1 bathroom on the main level
• Heating & cooling: Central cooling
• Interior features: One-level home; All bedrooms located on the main level; Bonus room with a fireplace; Main level includes 1 bathroom and 1 bedroom
• Laundry & utility: Washer hookup available; Has laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $159k.

Deal economics

• At list price, monthly cash flow is $-30 ($-361/yr) — negative.
• To cash-flow at today's rent, offer at most $154k (3.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $124k (22.0% below list).
• Recommended offer: $124k (22.0% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.8% in Clearlake — 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 61/100 on livability (#549 in CA) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+; Watch: schools F, crime F, amenities F.
• Konocti Unified (town): math 9% / reading 21% proficiency, ranked #494 of 517 in CA (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 77% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 292 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 43% 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 $1k of loan paydown is wiped out by about $5k 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 31 days — a 3% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.
• Current owner paid $86k; list at $159k implies a 85% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,993 (22.0% below list)

Questions for the listing agent

1. 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?
2. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.78% ✗
• Cap rate: 6.07%
• Cash-on-cash: -0.81%
• DSCR: 0.96
• GRM: 10.7

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: -17.7%
• Equity multiple: 0.38×
• Total profit: $-27,719
• Equity at exit: $23,707

10-year hold

• IRR: -9.8%
• Equity multiple: 0.40×
• Total profit: $-26,754
• Equity at exit: $13,747

Cash invested: $44,520 (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 95422

• Home prices YoY: -33.4%
• Active inventory: 292
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,240 high
• Mortgage (P&I): −$834
• Tax from tax record: −$110 /mo · $1,315/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $-30

Break-even live

Break-even rent $1,278

Max offer price $153,679

Occupancy floor 97%

Sensitivity live

Price	-10% $60	-5% $15	+0% $-30	+5% $-75	+10% $-120
Rent	-10% $-128	-5% $-79	+0% $-30	+5% $19	+10% $68
Rate	-1.0pp $50	-0.5pp $10	base $-30	+0.5pp $-71	+1.0pp $-113

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14984 Putnam Ln Clearlake, CA	2.0	1.5	819	$1,500	$1.83	44d	1	0.83mi
14531 Emory Ave Clearlake, CA	3.0	1.0	912	$1,450	$1.59	22d	1	0.96mi
14087 Lakeshore Dr Clearlake, CA	3.0	3.0	1815	$2,500	$1.38	44d	1	1.25mi
14083 Lakeshore Dr Clearlake, CA	2.0	2.0	1076	$1,450	$1.35	22d	1	1.29mi
5935 Old Highway 53 Unit D Clearlake, CA	2.0	2.0	700	$1,000	$1.43	22d	1	1.37mi
5935 Old Highway 53 Spc 32 MH (Park Owned) Clearlake, CA	3.0	2.0	1300	$1,400	$1.08	22d	1	1.37mi
13955 Lakeshore Dr Unit 9 Clearlake, CA	2.0	1.0	—	$1,150	—	44d	1	1.38mi

Listing history 23 events

1. 2026-06-19
   days on market $159,000 Active 31 DOM
2. 2026-06-18
   days on market $159,000 Active 30 DOM
3. 2026-06-17
   days on market $159,000 Active 29 DOM
4. 2026-06-16
   days on market $159,000 Active 28 DOM
5. 2026-06-15
   days on market $159,000 Active 27 DOM
6. 2026-06-14
   days on market $159,000 Active 25 DOM
7. 2026-06-13
   days on market $159,000 Active 24 DOM
8. 2026-06-10
   days on market $159,000 Active 22 DOM
9. 2026-06-09
   days on market $159,000 Active 21 DOM
10. 2026-06-08
    days on market $159,000 Active 20 DOM
11. 2026-06-07
    days on market $159,000 Active 19 DOM
12. 2026-06-05
    days on market $159,000 Active 16 DOM
13. 2026-06-02
    days on market $159,000 Active 14 DOM
14. 2026-06-01
    days on market $159,000 Active 13 DOM
15. 2026-05-31
    days on market $159,000 Active 12 DOM
16. 2026-05-30
    days on market $159,000 Active 11 DOM
17. 2026-05-19
    listed $159,000 Active
18. 2026-03-31
    historical
19. 2026-02-02
    price $159,000
20. 2025-11-06
    price $160,000
21. 2025-08-21
    price $175,000
22. 2025-05-14
    listed $199,000 Active
23. 2005-09-27
    soldstatus $86,000

ⓘ 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: $1,315 · $110/mo
• Projected year-2 tax: $1,315 · $110/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 10/10 Extreme
• 🌡 Heat 6/10 Major 7 d/yr ≥100°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 31 unhealthy d/yr today · 33 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,879
• − Mortgage interest: −$8,906
• − Property taxes: −$1,315
• − Insurance: −$795
• − Repairs & maintenance: −$1,190
• − Management: −$1,190
• − Depreciation: −$4,625
• Taxable loss: −$3,144
• Est. tax savings @ 24.0%: +$754
• After-tax cash flow: $393/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: Konocti Unified
• NCES district ID: 0620070
• Math proficiency: 9% ▼ -5.00%
• Reading proficiency: 21% ▼ -6.00%
• Median HH income: $30,026
• Composite: 11.81/100
• National rank: #9677
• State rank: #494 of 517 in CA

Livability — Clearlake

• Score: 61/100
• State rank: #549
• US rank: #18284

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clearlake, CA
• Population (ZIP): 17,101

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 0.59)
• Race & ethnicity: White 56% Hispanic / Latino 30% Two or more races 15% Black 4% Native American 3% Asian 1%
• Hispanic origin (detail): Mexican 26%
• Common ancestry: Lithuanian 3% Italian 1% Russian 1%
• Foreign-born: 10% · Canada
• Languages at home: 77% English-only · Spanish 22% Other Indo-European 1%

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: ▼ -124.47%
• Current HPI: 248.654
• 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

+84.9% since first listed

7 events — show timeline

• 2026-05-19 Listed $159,000 CRMLS
• 2026-03-31 Listing Removed — CRMLS
• 2026-02-02 Price Changed $159,000 CRMLS
• 2025-11-06 Price Changed $160,000 CRMLS
• 2025-08-21 Price Changed $175,000 CRMLS
• 2025-05-14 Listed $199,000 CRMLS
• 2005-09-27 Sold (Public Records) $86,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $1,315 · +1.3% YoY. Source: county tax records.