1408 North St · Susanville, CA 96130

$340,000

4 bd · 4.0 ba · 2,590 sqft · MultiFamily public records · 479 Days on market

Built 1940 8,712 sqft lot Est $264k · 29% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• Livability +3.2/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

#1: 1 BEDROOM, 1 BATH APARTMENT APPROX 650 SQ FT WITH NATURAL GAS MONITOR HEATER, GAS RANGE, REFRIGERATOR, GAS WATER HEATER. #2: 1 BEDROOM, 1 BATH APARTMENT APPROX 650 SQ FT WITH NATURAL GAS MONITOR HEATER, GAS RANGE, REFRIGERATOR, GAS WATER HEATER. #3: 1 BEDROOM, 1 BATH APARTMENTS, APPROX 650 SQ FT WITH NATURAL GAS HEAT, GAS STOVE & REFRIGERATOR REMODELED BATHROOM. #4: 1 BEDROOM, 1 BATH APARTMENT APPROX 650 SQ FT WITH NATURAL GAS MONITOR HEATER, GAS RANGE, REFRIGERATOR, REMODELED BATHROOM.

Key facts

• New exterior stucco
• Units 1 2 renovated
• New windows

Tags

• NEW EXTERIOR STUCCO
• NEW WINDOWS
• UNITS 1 2 RENOVATED
• UNIT 3 PARTIALLY RENOVATED

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Residential income property; Quadruplex; Zoned R3-A (buyer to verify)
• Construction: Stucco exterior; Built on lot of about 0.2 acres
• Exterior features: Fenced yard; Rolled/hot mop roof

Interior

• Flooring: Carpet; Laminate
• Heating & cooling: Electric heating; Natural gas heating
• Interior features: Electric water heater; Smoke detectors

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/1.0-bath units multifamily listed at $340k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $353/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $340k).
• Recommended offer: $299k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.3% vs local median 3.8% in Susanville — 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 64/100 on livability (#421 in CA) — a middle-class / working-renter tenant base. Strengths: housing A+, commute A-, health & safety A-; Watch: schools F, crime F, amenities F.
• Susanville Elementary (town): math 27% / reading 32% proficiency, ranked #350 of 517 in CA (top 68%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 236 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 6 units permitted in Lassen County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Lassen 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 $95k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 479 days — a 12% lower offer ($299k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago; this cycle's ask has dropped $35k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $225k; list at $340k implies a 51% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $299,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 479 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.32% ✓
• Cap rate: 11.27%
• Cash-on-cash: 17.78%
• DSCR: 1.79
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $264,180
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1508 Third St	0.09mi	4/3.0	2,458 (-5%)	5mo	$250,000	$102	79

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: 9.3%
• Equity multiple: 1.36×
• Total profit: $34,669
• Equity at exit: $50,695

10-year hold

• IRR: 18.4%
• Equity multiple: 2.53×
• Total profit: $145,618
• Equity at exit: $29,397

Cash invested: $95,200 (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 96130

• Active inventory: 236
• Price-to-rent: 25.2×

Monthly cashflow live

• Estimated rent: $4,504 medium
• Mortgage (P&I): −$1,783
• Tax from tax record: −$223 /mo · $2,679/yr
• Insurance: −$142
• HOA: −$0
• Vacancy / Maint / Mgmt: −$946
• Net cashflow: $1,410

Break-even live

Break-even rent $2,719

Max offer price $340,000

Occupancy floor 64%

Sensitivity live

Price	-10% $1,603	-5% $1,506	+0% $1,410	+5% $1,314	+10% $1,218
Rent	-10% $1,054	-5% $1,232	+0% $1,410	+5% $1,588	+10% $1,766
Rate	-1.0pp $1,581	-0.5pp $1,497	base $1,410	+0.5pp $1,322	+1.0pp $1,233

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$4,504
Total (4 units)			$4,504

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: $85,000
• Closing costs: $10,200
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
765 Plumas St Susanville, CA	4.0	2.0	1838	$1,595	$0.87	14d	1	0.83mi

Listing history 24 events

1. 2026-06-19
   days on market $340,000 Active 479 DOM
2. 2026-06-18
   days on market $340,000 Active 478 DOM
3. 2026-06-17
   days on market $340,000 Active 477 DOM
4. 2026-06-16
   days on market $340,000 Active 476 DOM
5. 2026-06-15
   days on market $340,000 Active 475 DOM
6. 2026-06-14
   days on market $340,000 Active 473 DOM
7. 2026-06-12
   days on market $340,000 Active 472 DOM
8. 2026-06-09
   days on market $340,000 Active 469 DOM
9. 2026-06-08
   days on market $340,000 Active 468 DOM
10. 2026-06-07
    days on market $340,000 Active 467 DOM
11. 2026-06-07
    days on market $340,000 Active 466 DOM
12. 2026-06-04
    days on market $340,000 Active 463 DOM
13. 2026-06-02
    days on market $340,000 Active 462 DOM
14. 2026-06-01
    days on market $340,000 Active 461 DOM
15. 2026-05-31
    days on market $340,000 Active 460 DOM
16. 2026-05-31
    days on market $340,000 Active 459 DOM
17. 2025-10-29
    price $340,000
18. 2025-02-25
    listed $375,000 Active
19. 2020-07-27
    soldstatus $225,000 501-char remark

    Show marketing remark (501 chars)

    #1: 1 BEDROOM, 1 BATH APARTMENT APPROX 650 SQ FT WITH NATURAL GAS MONITOR HEATER, GAS RANGE, REFRIGERATOR, GAS WATER HEATER. #2: 1 BEDROOM, 1 BATH APARTMENT APPROX 650 SQ FT WITH NATURAL GAS MONITOR HEATER, GAS RANGE, REFRIGERATOR, GAS WATER HEATER. #3: 1 BEDROOM, 1 BATH APARTMENTS, APPROX 650 SQ FT WITH NATURAL GAS HEAT, GAS STOVE & REFRIGERATOR REMODELED BATHROOM. #4: 1 BEDROOM, 1 BATH APARTMENT APPROX 650 SQ FT WITH NATURAL GAS MONITOR HEATER, GAS RANGE, REFRIGERATOR, REMODELED BATHROOM.

20. 2020-07-27
    soldstatus $225,000

    Show marketing remark (501 chars)

    #1: 1 BEDROOM, 1 BATH APARTMENT APPROX 650 SQ FT WITH NATURAL GAS MONITOR HEATER, GAS RANGE, REFRIGERATOR, GAS WATER HEATER. #2: 1 BEDROOM, 1 BATH APARTMENT APPROX 650 SQ FT WITH NATURAL GAS MONITOR HEATER, GAS RANGE, REFRIGERATOR, GAS WATER HEATER. #3: 1 BEDROOM, 1 BATH APARTMENTS, APPROX 650 SQ FT WITH NATURAL GAS HEAT, GAS STOVE & REFRIGERATOR REMODELED BATHROOM. #4: 1 BEDROOM, 1 BATH APARTMENT APPROX 650 SQ FT WITH NATURAL GAS MONITOR HEATER, GAS RANGE, REFRIGERATOR, REMODELED BATHROOM.

21. 2019-08-30
    listed $240,000 501-char remark

    Show marketing remark (501 chars)

    #1: 1 BEDROOM, 1 BATH APARTMENT APPROX 650 SQ FT WITH NATURAL GAS MONITOR HEATER, GAS RANGE, REFRIGERATOR, GAS WATER HEATER. #2: 1 BEDROOM, 1 BATH APARTMENT APPROX 650 SQ FT WITH NATURAL GAS MONITOR HEATER, GAS RANGE, REFRIGERATOR, GAS WATER HEATER. #3: 1 BEDROOM, 1 BATH APARTMENTS, APPROX 650 SQ FT WITH NATURAL GAS HEAT, GAS STOVE & REFRIGERATOR REMODELED BATHROOM. #4: 1 BEDROOM, 1 BATH APARTMENT APPROX 650 SQ FT WITH NATURAL GAS MONITOR HEATER, GAS RANGE, REFRIGERATOR, REMODELED BATHROOM.

22. 2008-02-28
    soldstatus $200,000
23. 2003-09-30
    soldstatus $103,000
24. 1995-09-29
    soldstatus $70,000

ⓘ 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: $2,679 · $223/mo
• Projected year-2 tax: $2,679 · $223/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 8/10 Severe
• 🌡 Heat 4/10 Moderate 8 d/yr ≥92°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 30 unhealthy d/yr today · 31 by 30 yrs out

Taxation est. · year 1

• Rental income: $54,048
• − Mortgage interest: −$19,045
• − Property taxes: −$2,679
• − Insurance: −$1,700
• − Repairs & maintenance: −$4,324
• − Management: −$4,324
• − Depreciation: −$9,891
• Taxable income: $12,085
• Est. tax owed @ 24.0%: −$2,900
• After-tax cash flow: $14,023/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: Susanville Elementary
• NCES district ID: 0638550
• Math proficiency: 27% ▼ -6.00%
• Reading proficiency: 32% ▬ 0.00%
• Median HH income: $49,068
• Composite: 25.69/100
• National rank: #7387
• State rank: #350 of 517 in CA

Livability — Susanville

• Score: 64/100
• State rank: #421
• US rank: #14210

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Susanville, CA
• Population (ZIP): 20,892

Population outlook (Lassen County) Hauer SSP2

• Today (2025): 27,112 people
• By 2030: 26,732 · -1.4%
• By 2040: 25,536 · -5.8%
• By 2050: 23,262 · -14.2%
• By 2075: 18,620 · -31.3%
• By 2100: 14,679 · -45.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 57% Hispanic / Latino 26% Two or more races 17% Black 9% Native American 2% Pacific Islander 1% Asian 1%
• Hispanic origin (detail): Mexican 23%
• Common ancestry: Iranian 2% Lithuanian 2% Slovak 2%
• Foreign-born: 5% · Canada
• Languages at home: 80% English-only · Spanish 16% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · Lassen

• 2024 margin: Solid R (+54.0) · D 21.8% · R 75.8% · Other 2.4%
• 2008→2024 swing: -19.8pp toward R · 2008: -34.2pp · 2024: -54.0pp
• All cycles: 2024: R+54.0 2020: R+51.5 2016: R+51.3 2012: R+39.8 2008: R+34.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -126.12%
• Current HPI: 136.1585
• 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

+385.7% since first listed

8 events — show timeline

• 2025-10-29 Price Changed $340,000 LAORMLS
• 2025-02-25 Listed $375,000 LAORMLS
• 2020-07-27 Sold (Public Records) $225,000 Public Records
• 2020-07-27 Sold (MLS) $225,000 LAORMLS
• 2019-08-30 Listed $240,000 LAORMLS
• 2008-02-28 Sold (Public Records) $200,000 Public Records
• 2003-09-30 Sold (Public Records) $103,000 Public Records
• 1995-09-29 Sold (Public Records) $70,000 Public Records

Property tax history

+1.2%/yr

Latest (2025): $2,679 · +2.1% YoY. Source: county tax records.