640-642 Locust StReddingCA96001
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayGlobal investors willing to prioritise equity over near-term yield will find 640-642 Locust St, Redding, CA, 96001 in Redding worth study. Rental yield 4.72%. The 4.72% gross yield is below cash-flow benchmarks at $315,000, but 5% annual appreciation, adding $87,029 over five years, frames this as a capital growth position. Rent of $1,240/mo partially offsets the $1,416/mo payment. Ziffy Mortgage finances appreciation-play properties (0.88 DSCR) for non-U.S. residents without domestic income documentation; a 30–35% down payment maximises coverage. Total projected return: $73,906.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 4.7% | 5.2% |
| Monthly Cash Flow | $(709) | $850 |
City averages based on Redding market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,240 |
| Total Monthly Debt Service | $1,823 |
| DSCR Ratio | 0.68x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Multi Family
Built in 1952
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 96001, Redding, CA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,105 (100%) |
| Owner Occupied HU | 8,550 (56.6%) |
| Renter Occupied HU | 5,530 (36.6%) |
| Vacant Housing Units | 1,025 ( 6.8%) |
| Median Home Value | $413,774 |
| Average Home Value | $471,891 |
Housing Distribution
Address Breakdown
Residential
14,656
Single Family
13,803
Multi-Family
853
Businesses
1,624
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Multi Family
Built in 1952
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 96001, Redding, CA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,105 (100%) |
| Owner Occupied HU | 8,550 (56.6%) |
| Renter Occupied HU | 5,530 (36.6%) |
| Vacant Housing Units | 1,025 ( 6.8%) |
| Median Home Value | $413,774 |
| Average Home Value | $471,891 |
Housing Distribution
Address Breakdown
Residential
14,656
Single Family
13,803
Multi-Family
853
Businesses
1,624
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Jesse Eline • eXp Realty of Northern California, Inc.
Mls Name: SMLS
Mls Provider:
Mls ID: #25-497
Disclaimer: Copyright Shasta Association of Realtors. All rights reserved. Information is deemed reliable but not guaranteed.