821 Saint Marks St #26 · Redding, CA 96003

$18,900

2 bd · 2.0 ba · 592 sqft · Manufactured public records · 12 Days on market

Built 1976 $32/sqft · 60% below area ↓ 50% since listing

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 bedroom 2 bath. Situated conveniently close to shopping and other amenities. this is and adults only mobile home park. 2 shed included. In need of some TLC.

Key facts

• Open space
• Mobile home park
• Sheds on property

Tags

• OPEN SPACE
• MOBILE HOME PARK
• SHEDS ON PROPERTY

Property features AI

Exterior

• Parking: Attached carport; 1 carport space
• Utilities: 220-volt electric
• Home design: Manufactured in park (mobile home)
• Exterior features: Level topography; Asphalt road access; Park setting (Moose Horn)

Interior

• Kitchen: Refrigerator
• Heating & cooling: Has heating
• Interior features: Includes view; Fixer condition
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $19k.

Deal economics

• At list price, monthly cash flow is $912 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $19k).
• Cap rate 64.2% vs local median 3.3% in Redding — 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 76/100 on livability (#106 in CA, #3,726 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment C-, crime F, cost of living F.
• Gateway Unified (suburban): math 25% / reading 35% proficiency, ranked #355 of 517 in CA (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.0%/yr); 391 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); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; 246 units permitted in Shasta County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $131 of loan paydown is wiped out by about $567 of value loss. Plan a longer hold.
• Shasta County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 6.0% rent growth), your $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 4y 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.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 5→11/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $18,900

Questions for the listing agent

1. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 6.89% ✓
• Cap rate: 64.18%
• Cash-on-cash: 206.75%
• DSCR: 10.20
• GRM: 1.2

CMA / ARV

• ARV (median comp): $93,595
• List price: $18,900
• Delta: -79.81%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4488 Menasha Ln #60	0.37mi	1/1.0 (-1)	576 (-3%)	4mo	$13,400	$23	66
895 Shawnee Trl Unit Mountain Shadows	0.25mi	2/1.0	624 (+5%)	23mo	$42,000	$67	56
821 St Marks St #19	0.06mi	2/1.0	672 (+14%)	24mo	$25,000	$37	51

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 · 5.98% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 12.16×
• Total profit: $59,039
• Equity at exit: $2,818

10-year hold

• IRR: —
• Equity multiple: 28.17×
• Total profit: $143,767
• Equity at exit: $1,634

Cash invested: $5,292 (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 96003

• Rents YoY: 6.0%
• Active inventory: 391
• Price-to-rent: 1.2×

Monthly cashflow live

• Estimated rent: $1,302 medium
• Mortgage (P&I): −$99
• Tax from tax record: −$10 /mo · $116/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $912

Break-even live

Break-even rent $148

Max offer price $18,900

Occupancy floor 25%

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: $4,725
• Closing costs: $567
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3717 Saint Nicholas Ave Unit 5 Redding, CA	1.0	1.0	650	$1,150	$1.77	44d	1	0.31mi
272 Boulder Creek Dr Unit 08 Redding, CA	1.0	1.0	437	$929	$2.13	44d	1	1.27mi
284 Boulder Creek Dr Unit F Redding, CA	1.0	1.0	500	$1,099	$2.20	44d	1	1.28mi
251 Hilltop Dr Redding, CA	1.0–2.0	1.0–2.0	757	$1,475	$1.95	13d	1	1.35mi

Listing history 5 events

1. 2026-05-10
   listed $18,900 Active 180-char remark
2. 2022-08-02
   soldstatus $23,000 Closed 158-char remark

   Show marketing remark (158 chars)

   2 bedroom 2 bath. Situated conveniently close to shopping and other amenities. this is and adults only mobile home park. 2 shed included. In need of some TLC.

3. 2022-06-30
   status Pending 158-char remark

   Show marketing remark (158 chars)

   2 bedroom 2 bath. Situated conveniently close to shopping and other amenities. this is and adults only mobile home park. 2 shed included. In need of some TLC.

4. 2022-05-25
   price $29,000 158-char remark

   Show marketing remark (158 chars)

   2 bedroom 2 bath. Situated conveniently close to shopping and other amenities. this is and adults only mobile home park. 2 shed included. In need of some TLC.

5. 2022-02-23
   listed $34,000 Active 158-char remark

   Show marketing remark (158 chars)

   2 bedroom 2 bath. Situated conveniently close to shopping and other amenities. this is and adults only mobile home park. 2 shed included. In need of some TLC.

ⓘ 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: $116 · $10/mo
• Projected year-2 tax: $144 · $12/mo
• Expected delta: +$27/yr (+$2/mo · 23.4%)

ⓘ 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 7/10 Severe
• 🌡 Heat 8/10 Severe 5 d/yr ≥106°F today · 11 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 37 unhealthy d/yr today · 40 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,622
• − Mortgage interest: −$1,059
• − Property taxes: −$116
• − Insurance: −$94
• − Repairs & maintenance: −$1,250
• − Management: −$1,250
• − Depreciation: −$550
• Taxable income: $11,303
• Est. tax owed @ 24.0%: −$2,713
• After-tax cash flow: $8,228/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: Gateway Unified
• NCES district ID: 0614950
• Math proficiency: 25% ▼ -5.00%
• Reading proficiency: 35% ▲ 2.00%
• Median HH income: $41,888
• Composite: 25.39/100
• National rank: #7465
• State rank: #355 of 517 in CA

Livability — Redding

• Score: 76/100
• State rank: #106
• US rank: #3726

Category grades

Amenities A+ Commute A+ Cost of living F 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: Redding, CA
• County: Shasta County · 147,641 people
• City population: 112,523
• Metro: Redding, CA
• Population (ZIP): 44,923
• Household income: $72,445
• Rent vs Own: 41.5% rent · 58.5% own
• Severe rent burden: 1668.0

Population outlook (Shasta County) Hauer SSP2

• Today (2025): 179,231 people
• By 2030: 176,953 · -1.3%
• By 2040: 169,982 · -5.2%
• By 2050: 162,547 · -9.3%
• By 2075: 145,649 · -18.7%
• By 2100: 123,025 · -31.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 11% Two or more races 10% Asian 4% Native American 1% Black 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 5% Slovak 3% Lithuanian 3%
• Foreign-born: 6% · Canada, China
• Languages at home: 92% English-only · Spanish 3% German/W. Germanic 1% Other Asian/Pacific 1%

Political lean MEDSL · Shasta

• 2024 margin: Solid R (+36.5) · D 30.5% · R 67.0% · Other 2.5%
• 2008→2024 swing: -10.7pp toward R · 2008: -25.8pp · 2024: -36.5pp
• All cycles: 2024: R+36.5 2020: R+33.1 2016: R+37.4 2012: R+30.3 2008: R+25.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -181.66%
• Current HPI: 152.3069
• Rent YoY: ▲ 5.98%
• Metro: Redding, 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

-50.0% since first listed

7 events — show timeline

• 2026-06-12 Sold (MLS) $17,000 SAOR
• 2026-05-22 Pending — SAOR
• 2026-05-10 Listed $18,900 SAOR
• 2022-08-02 Sold (MLS) $23,000 SAOR
• 2022-06-30 Pending — SAOR
• 2022-05-25 Price Changed $29,000 SAOR
• 2022-02-23 Listed $34,000 SAOR

Property tax history

-0.1%/yr

Latest (2020): $116 · +1.2% YoY. Source: county tax records.