690-925 Eagles Nest Rd

Spaulding, CA 96130

$94,000B-

2 bd · 1.0 ba · 900 sqft · Built 1971 · SingleFamily · Active · 99 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,350/mo
• Mortgage (P&I): −$493
• Tax + insurance: −$157
• HOA: −$0
• Vac / Maint / Mgmt: −$283
• Net cashflow: $417/mo
• Annual: $5,001/yr
• Cap rate: 11.61%
• Cash-on-cash: 19.00%
• DSCR: 1.85
• 1% rule: 1.44%
• Cash to close: $26,320

Investor read

• This is a 2-bed/1.0-bath single-family listed at $94k. Condition is rated fair.
• At list price, monthly cash flow is $417 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $94k).
• It's been on market 99 days — a 9% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $86k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $650 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 49/100 on livability (#1,173 in CA) — a working-class tenant base; expect higher turnover. Watch: schools D-, 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; 6 units permitted in Lassen County in 2024 (0 in 5+ unit buildings).
• 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 $26k cash investment doubles in ~7 years — after that, you're playing with house money.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% 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 1971 — 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 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?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Kitchen cabinets — Worn but not damaged
• Minor: Bathroom fixtures — Basic and dated
• Moderate: Exterior paint — Some wear and tear visible