9 Feather River Homesites Dr

Warner Valley, CA 96020

$97,258B-

2 bd · 1.0 ba · 1,188 sqft · Built 1940 · SingleFamily · Active · 35 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,178/mo
• Mortgage (P&I): −$510
• Tax + insurance: −$162
• HOA: −$0
• Vac / Maint / Mgmt: −$247
• Net cashflow: $259/mo
• Annual: $3,104/yr
• Cap rate: 9.48%
• Cash-on-cash: 11.40%
• DSCR: 1.51
• 1% rule: 1.21%
• Cash to close: $27,232

Investor read

• This is a 2-bed/1.0-bath single-family listed at $97k. Condition is rated fair.
• At list price, monthly cash flow is $259 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $97k).
• It's been on market 35 days — a 3% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $94k (3.0% below list) — sets the bar for market timing.
• In year one you build about $10k of equity ($672 loan paydown + $10k appreciation (10.0% local appreciation)).
• Location reads 29/100 on livability (#1,470 in CA) — a limited-amenity area; tenant pool skews transient or value-seeking. Strengths: crime A; Watch: amenities F, commute F, employment F.
• Plumas Unified (rural): math 21% / reading 44% proficiency, ranked #306 of 517 in CA (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 74 active listings in the ZIP; 39 units permitted in Plumas County in 2024 (0 in 5+ unit buildings).
• Plumas County population projected at -42% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 19 sale attempts since 17y ago 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 $72k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% 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?
• Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: kitchen appliances — Outdated and non-functional
• Major: bathroom fixtures — Outdated and non-functional
• Moderate: exterior siding — Weathered and in need of repainting
• Major: flooring — Worn and exposed subfloor
• Major: interior walls — Worn paint and outdated decor
• Major: HVAC system — Old stove and hot water heater