1285 Lancers Ln · Redding, CA 96003

$899,000

None bd · None ba · — sqft · MultiFamily · 605 Days on market

Built 1986

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Why this score? — see what drove the B- 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 +28.9/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Schools +4.6/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Two story 6-plex in popular location across from Home Depot. 6 spacious, all-electric 1,060 sf 2 bedroom, 2 bath units and one separate coin-op laundry room servicing the 6-plex. All units are now month to month tenancies.

Key facts

• Two story 6 plex
• All electric
• Built 1986

Tags

• TWO STORY 6 PLEX
• ALL ELECTRIC
• SEPARATE COIN-OP LAUNDRY ROOM

Property features AI

Exterior

• Parking: Off-street parking; On-street parking
• Home design: Residential income property
• Construction: Stucco construction
• Exterior features: Conforming zoning

Interior

• Heating & cooling: Electric forced-air heating; Central cooling
• Interior features: Has heating and cooling

What this means for you Summary

Snapshot

• This is a 6 × 2-bed/2.0-bath units multifamily listed at $899k.

Deal economics

• At list price, monthly cash flow is $3k ($36k/yr) — positive. Per door: $507/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($11k rent vs $899k).
• Recommended offer: $791k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.3% 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.
• Shasta Union High (urban): math 41% / reading 67% proficiency, ranked #122 of 517 in CA (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+6.0%/yr); 393 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 246 units permitted in Shasta County in 2024 (0 in 5+ unit buildings).
• At $10,721/mo this rent would consume 178% of the median local household income ($72k/yr) (locally 1668% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $27k 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 $252k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 605 days — a 12% lower offer ($791k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $100k; list at $899k implies a 799% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $791,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 605 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.19% ✓
• Cap rate: 10.35%
• Cash-on-cash: 14.49%
• DSCR: 1.64
• GRM: 7.0

CMA / ARV

No comps found within radius.

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1313 Lancers Ln	0.03mi	—/—	—	8mo	$730,000	—	80
1155 Brandon Ct	0.13mi	—/—	—	11mo	$765,413	—	72
1253 Brandon Ct	0.12mi	—/—	—	13mo	$1,345,000	—	71
1255 Burton Ct	0.07mi	—/—	—	17mo	$1,181,750	—	70
1148 Burton Dr	0.11mi	—/—	—	16mo	$795,000	—	68
1136 Burton Dr	0.12mi	—/—	—	16mo	$795,000	—	68
1180 Brandon Ct	0.15mi	—/—	—	16mo	$989,000	—	68
1112 Burton Dr	0.15mi	—/—	—	21mo	$875,000	—	63
1383 Browning St	0.34mi	—/—	—	16mo	$810,000	—	59

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: 7.9%
• Equity multiple: 1.32×
• Total profit: $80,666
• Equity at exit: $134,044

10-year hold

• IRR: 19.4%
• Equity multiple: 2.84×
• Total profit: $462,600
• Equity at exit: $77,729

Cash invested: $251,720 (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: 393
• Price-to-rent: 41.9×

Monthly cashflow live

• Estimated rent: $10,721 high
• Mortgage (P&I): −$4,714
• Tax from tax record: −$342 /mo · $4,098/yr
• Insurance: −$375
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,251
• Net cashflow: $3,039

Break-even live

Break-even rent $6,874

Max offer price $899,000

Occupancy floor 67%

Sensitivity live

Price	-10% $3,548	-5% $3,293	+0% $3,039	+5% $2,785	+10% $2,530
Rent	-10% $2,192	-5% $2,616	+0% $3,039	+5% $3,463	+10% $3,886
Rate	-1.0pp $3,492	-0.5pp $3,268	base $3,039	+0.5pp $2,806	+1.0pp $2,569

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

Units	Beds	Baths	Est. rent
▸ 6× units	2	2	$10,722
Total (6 units)			$10,721

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: $224,750
• Closing costs: $26,970
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1233 Bundy Ct Unit 6 Redding, CA	2.0	2.0	1000	$1,595	$1.59	14d	1	0.02mi
1232 Burton Ct Unit 3 Redding, CA	2.0	1.5	900	$1,395	$1.55	14d	1	0.09mi
1377 Browning St Unit B Redding, CA	3.0	2.5	2050	$2,395	$1.17	14d	1	0.35mi
1230 Canby Rd Redding, CA	2.0	1.0	743	$1,495	$2.01	14d	1	0.38mi
1252 Old Alturas Rd Redding, CA	3.0	2.0	1175	$2,250	$1.91	14d	1	0.42mi
1580 Dana Dr Unit 3 Redding, CA	2.0	1.5	950	$1,450	$1.53	14d	1	0.43mi
1238 Old Alturas Rd Redding, CA	3.0	2.0	1175	$2,350	$2.00	14d	1	0.43mi
1256 Old Alturas Rd Redding, CA	3.0	2.0	1387	$2,350	$1.69	14d	1	0.43mi
1230 Old Alturas Rd Redding, CA	3.0	2.0	1387	$2,350	$1.69	14d	1	0.47mi
1701 Dana Dr Redding, CA	2.0–3.0	1.5	1070	$1,675	$1.57	14d	1	0.53mi
870 Mission Sierra Ct #26 Redding, CA	2.0	2.5	1331	$1,995	$1.50	14d	1	0.56mi
550 Mission de Oro Dr Redding, CA	3.0	2.0	1429	$1,995	$1.40	22d	1	0.93mi
1263 Snowcap Trl Redding, CA	2.0	2.0	1456	$2,095	$1.44	14d	1	0.94mi
1975 Bechelli Ln Redding, CA	2.0	2.0	1347	$1,850	$1.37	22d	1	1.01mi
2351 Victor Ave Redding, CA	2.0	1.5	900	$1,400	$1.56	14d	1	1.26mi
2155 Park Marina Dr Redding, CA	2.0	1.0	905	$1,400	$1.55	14d	1	1.28mi
381 Bountiful Path Redding, CA	3.0	2.5	3172	$2,750	$0.87	14d	1	1.32mi
500 Hilltop Dr Redding, CA	2.0–3.0	2.0–3.0	1282	$1,700	$1.33	14d	4	1.35mi
1729 Marigold Way Redding, CA	3.0	2.0	1344	$2,295	$1.71	14d	1	1.38mi
1978 Goren Ct Redding, CA	3.0	2.0	1561	$2,650	$1.70	14d	1	1.40mi
1995 Lugano Trl Redding, CA	3.0	2.5	1616	$2,350	$1.45	14d	1	1.45mi
1949 Trumpet Dr Redding, CA	3.0	2.0	1584	$2,295	$1.45	22d	1	1.46mi

Listing history 22 events

1. 2026-06-21
   days on market $899,000 Active 605 DOM
2. 2026-06-19
   days on market $899,000 Active 603 DOM
3. 2026-06-18
   days on market $899,000 Active 602 DOM
4. 2026-06-17
   days on market $899,000 Active 601 DOM
5. 2026-06-16
   days on market $899,000 Active 600 DOM
6. 2026-06-15
   days on market $899,000 Active 599 DOM
7. 2026-06-14
   days on market $899,000 Active 597 DOM
8. 2026-06-13
   days on market $899,000 Active 596 DOM
9. 2026-06-10
   days on market $899,000 Active 594 DOM
10. 2026-06-09
    days on market $899,000 Active 593 DOM
11. 2026-06-08
    days on market $899,000 Active 592 DOM
12. 2026-06-07
    days on market $899,000 Active 591 DOM
13. 2026-06-05
    days on market $899,000 Active 588 DOM
14. 2026-06-03
    days on market $899,000 Active 587 DOM
15. 2026-06-02
    days on market $899,000 Active 586 DOM
16. 2026-06-01
    days on market $899,000 Active 585 DOM
17. 2026-05-31
    days on market $899,000 Active 584 DOM
18. 2026-05-30
    days on market $899,000 Active 583 DOM
19. 2026-03-20
    price $899,000
20. 2025-01-02
    price $925,000
21. 2024-10-23
    listed $949,000 Active
22. 1997-05-01
    soldstatus $100,000

ⓘ 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: $4,098 · $342/mo
• Projected year-2 tax: $6,832 · $569/mo
• Expected delta: +$2,734/yr (+$228/mo · 66.7%)

ⓘ 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 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 41 unhealthy d/yr today · 48 by 30 yrs out

Taxation est. · year 1

• Rental income: $128,652
• − Mortgage interest: −$50,358
• − Property taxes: −$4,098
• − Insurance: −$4,495
• − Repairs & maintenance: −$10,292
• − Management: −$10,292
• − Depreciation: −$26,153
• Taxable income: $22,964
• Est. tax owed @ 24.0%: −$5,511
• After-tax cash flow: $30,957/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: Shasta Union High
• NCES district ID: 0636600
• Math proficiency: 41% ▲ 3.00%
• Reading proficiency: 67% ▲ 9.00%
• Median HH income: $50,080
• Composite: 46.01/100
• National rank: #2532
• State rank: #122 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

+799.0% since first listed

4 events — show timeline

• 2026-03-20 Price Changed $899,000 SAOR
• 2025-01-02 Price Changed $925,000 SAOR
• 2024-10-23 Listed $949,000 SAOR
• 1997-05-01 Sold (Public Records) $100,000 Public Records

Property tax history

+1.6%/yr

Latest (2025): $4,098 · +1.5% YoY. Source: county tax records.