490 Martin St · Lakeport, CA 95453

$217,000

3 bd · 1.5 ba · 1,242 sqft · SingleFamily public records · 43 Days on market

Built 1966 10,454 sqft lot $175/sqft · 36% below area Est $337k · 36% under

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Why this score? — see what drove the C+ 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 +23.4/30.0
• ARV discount +15.0/15.0
• DSCR +7.5/10.0
• 1% rule +5.4/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Great opportunity for a fixer upper! This single story home features 3 bedrooms and 2 bathrooms on a spacious lot, with a well designed floor plan full of potential. With a bit of creativity and vision, you can truly make this home shine again. Living room features a large window and fireplace. The spacious kitchen offers ample room, a double sink, and direct access to the carport. Enjoy relaxing on the covered porch with your favorite drink. The back yard includes a detached, oversized one car garage. Lots of back yard space to entertain family and friends. Enjoy the convenience of walking to downtown, parks and the lake, along with access to fantastic local amenities like boating, fishing

Key facts

• 0.24 acre lot
• Garage
• Built 1966

Property features AI

Finance

• Other: No accessory dwelling unit (ADU); No common walls (detached); Total units: 1
• HOA & community: Community offers biking, fishing, and lake access

Exterior

• Parking: Carport (attached); One covered parking space; One garage space listed
• Utilities: Public sewer; Public/District water; Electricity connected
• Home design: Single-family house; Single-story (1 story); Entry on front
• Construction: Fixer condition; Year built per public records
• Exterior features: Front porch; Back yard; No pool; Has view

Interior

• Kitchen: Refrigerator; Electric oven; Dishwasher; Eating area in kitchen
• Bedrooms: Three main-level bedrooms
• Flooring: Carpet; Laminate
• Bathrooms: Two full bathrooms (both on main level)
• Heating & cooling: Electric heating; Wall/window cooling units
• Interior features: One-level layout with front entry; Family room with fireplace; Kitchen and family room included among room types; Bathtub in bathroom(s)
• Laundry & utility: Laundry located in carport

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $217k.

Deal economics

• At list price, monthly cash flow is $280 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $217k).
• Recommended offer: $210k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 3.3% in Lakeport — 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 54/100 on livability (#925 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A; Watch: health & safety C-, schools D+, employment D+.
• Lakeport Unified (town): math 13% / reading 30% proficiency, ranked #451 of 517 in CA (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 148 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 107 units permitted in Lake County in 2024 (40 in 5+ unit buildings).
• This rent runs 38% of the median local income ($71k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 43 days — a 3% lower offer ($210k) 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 $75k; list at $217k implies a 189% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $122/mo.
• Climate carrying-cost: in FEMA flood zone AO (mandatory federal flood insurance); 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 $210,490 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-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. 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.
8. 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.
9. 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: 1.04% ✓
• Cap rate: 8.52%
• Cash-on-cash: 7.94%
• DSCR: 1.35
• GRM: 8.0

CMA / ARV

• ARV (median comp): $337,125
• List price: $217,000
• Delta: -35.63%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
355 1st St	0.12mi	3/2.0	1,349 (+9%)	1mo	$375,000	$278	78
325 S Forbes	0.13mi	3/1.0	1,365 (+10%)	1mo	$357,000	$262	75
145 N Brush St	0.16mi	3/2.0	1,156 (-7%)	12mo	$297,750	$258	69
944 First St	0.28mi	4/1.5 (+1)	1,196 (-4%)	10mo	$339,000	$283	68
1150 North St	0.61mi	3/2.0	1,254 (+1%)	1mo	$355,000	$283	67
730 Sixth St	0.41mi	3/2.0	1,222 (-2%)	13mo	$326,000	$267	66
435 Armstrong St	0.04mi	2/2.0 (-1)	1,086 (-13%)	8mo	$334,000	$308	63
305 N Brush	0.25mi	2/1.0 (-1)	1,085 (-13%)	4mo	$289,000	$266	58
977 Sixth St	0.47mi	2/2.0 (-1)	1,326 (+7%)	7mo	$300,000	$226	54
659 14th St	0.71mi	3/1.5	1,204 (-3%)	13mo	$336,600	$280	51
625 10th St	0.53mi	2/1.0 (-1)	1,140 (-8%)	8mo	$217,000	$190	48
710 Clearlake Ave	0.67mi	3/2.0	1,123 (-10%)	8mo	$355,000	$316	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -7.7%
• Equity multiple: 0.72×
• Total profit: $-17,303
• Equity at exit: $32,355

10-year hold

• IRR: 1.9%
• Equity multiple: 1.13×
• Total profit: $8,029
• Equity at exit: $18,762

Cash invested: $60,760 (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 95453

• Active inventory: 148
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,256 medium
• Mortgage (P&I): −$1,138
• Tax from tax record: −$152 /mo · $1,819/yr
• Insurance: −$90
• Flood insurance flood zone: −$122 /mo · $1,468/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$474
• Net cashflow: $280

Break-even live

Break-even rent $1,902

Max offer price $217,000

Occupancy floor 83%

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: $54,250
• Closing costs: $6,510
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10 Royale Ave Lakeport, CA	2.0–3.0	2.0	1475	$2,195	$1.49	43d	3	0.57mi
10 Royale Ave #21 Lakeport, CA	2.0	2.0	1225	$2,195	$1.79	43d	1	0.57mi
10 Royale Ave #17 Lakeport, CA	2.0	2.0	1221	$2,100	$1.72	43d	1	0.57mi
300 Grace Ln Lakeport, CA	2.0	2.0	1200	$2,500	$2.08	43d	1	0.71mi

Listing history 18 events

1. 2026-06-18
   days on market $217,000 Active 43 DOM
2. 2026-06-17
   days on market $217,000 Active 42 DOM
3. 2026-06-16
   days on market $217,000 Active 41 DOM
4. 2026-06-15
   days on market $217,000 Active 40 DOM
5. 2026-06-14
   days on market $217,000 Active 38 DOM
6. 2026-06-12
   statusdays on market $217,000 Active 37 DOM
7. 2026-06-09
   days on market $217,000 Active Under Contract 34 DOM
8. 2026-06-08
   days on market $217,000 Active Under Contract 33 DOM
9. 2026-06-07
   days on market $217,000 Active Under Contract 32 DOM
10. 2026-06-05
    days on market $217,000 Active Under Contract 29 DOM
11. 2026-06-03
    days on market $217,000 Active Under Contract 28 DOM
12. 2026-06-02
    days on market $217,000 Active Under Contract 27 DOM
13. 2026-06-01
    days on market $217,000 Active Under Contract 26 DOM
14. 2026-05-31
    days on market $217,000 Active Under Contract 25 DOM
15. 2026-05-30
    days on market $217,000 Active Under Contract 24 DOM
16. 2026-05-17
    historical Active Under Contract 767-char remark
17. 2026-05-06
    listed $217,000 Active 767-char remark
18. 1989-08-02
    soldstatus $75,000

ⓘ 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: $1,819 · $152/mo
• Projected year-2 tax: $1,819 · $152/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 AO · 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 28 unhealthy d/yr today · 29 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,070
• − Mortgage interest: −$12,155
• − Property taxes: −$1,819
• − Insurance: −$2,552
• − Repairs & maintenance: −$2,166
• − Management: −$2,166
• − Depreciation: −$6,313
• Taxable loss: −$101
• Est. tax savings @ 24.0%: +$24
• After-tax cash flow: $3,382/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: Lakeport Unified
• NCES district ID: 0620670
• Math proficiency: 13% ▼ -8.00%
• Reading proficiency: 30% ▲ 1.00%
• Median HH income: $44,332
• Composite: 18.55/100
• National rank: #8912
• State rank: #451 of 517 in CA

Livability — Lakeport

• Score: 54/100
• State rank: #925
• US rank: #24236

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lakeport, CA
• County: Lake County · 24,333 people
• City population: 11,741
• Metro: Clearlake, CA
• Population (ZIP): 11,741
• Household income: $71,419
• Rent vs Own: 21.8% rent · 78.2% own
• Severe rent burden: 250.0

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: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 14% Two or more races 9% Native American 5% Asian 1%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Italian 3% Slovak 3% Romanian 2%
• Foreign-born: 6% · Canada
• Languages at home: 89% English-only · Spanish 9% 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: ▼ -176.01%
• Current HPI: 155.5391
• Rent YoY: —
• Metro: Clearlake, CA
• 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

+189.3% since first listed

5 events — show timeline

• 2026-06-18 Listing Removed — CRMLS
• 2026-06-11 Relisted — CRMLS
• 2026-05-17 Contingent — CRMLS
• 2026-05-06 Listed $217,000 CRMLS
• 1989-08-02 Sold (Public Records) $75,000 Public Records

Property tax history

+2.6%/yr

Latest (2025): $1,819 · +2.4% YoY. Source: county tax records.