359 Aquamarine Way
Redding, CA 96003
$439,000
3 bd · 2 ba · 1,508 sqft · Listed 12d ago
View on Realtor.com →Year built
1988
Sqft
1,508
Lot sqft
14,810
HOA / mo
$0
Furnished
No
List date
2026-09-17T19:18:16.000000Z
Revenue
Annual revenue
$54,283
ADR
$177
Occupancy
84%
Cleaning fees (12 mo)
$5,745
Confidence
Low (-7.86), 9 comps
Comp revenue range (p25 / median / p75)
Shasta Lake Sanctuary!
House · 3 bd · 2 ba · sleeps 8 · 0.3 mi
Revenue $90,551ADR $503Occ ≈ 49%4.8★ (15)
White Picket Fence-Clean, Cozy, Pet Friendly
House · 2 bd · 1 ba · sleeps 4 · 0.4 mi
Revenue $22,903ADR $154Occ ≈ 41%5★ (125)
Remodeled Two Bedroom Townhouse overlooking River
Apartment · 2 bd · 1.5 ba · sleeps 4 · 0.4 mi
Revenue $13,709ADR $79Occ ≈ 48%—
Quiet Home Downtown, Near River Trail
House · 2 bd · 1 ba · sleeps 4 · 0.4 mi
Revenue $2,268ADR $81Occ ≈ 8%—
|The Ritz 66| Posh + Pool + Views!
House · 3 bd · 2.5 ba · sleeps 12 · 0.7 mi
Revenue $769ADR $384Occ ≈ 1%—
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
|Riverside Retreat| Pool - Spa - River Trail House | 3 bd · 2 ba · sleeps 8 | $77,767 | $323 | 66% | 4.8★ (186) | 0.2 mi | AirbnbVrbo |
Shasta Lake Sanctuary! House | 3 bd · 2 ba · sleeps 8 | $90,551 | $503 | 49% | 4.8★ (15) | 0.3 mi | Airbnb |
White Picket Fence-Clean, Cozy, Pet Friendly House | 2 bd · 1 ba · sleeps 4 | $22,903 | $154 | 41% | 5★ (125) | 0.4 mi | Airbnb |
Remodeled Two Bedroom Townhouse overlooking River Apartment | 2 bd · 1.5 ba · sleeps 4 | $13,709 | $79 | 48% | — | 0.4 mi | Airbnb |
Quiet Home Downtown, Near River Trail House | 2 bd · 1 ba · sleeps 4 | $2,268 | $81 | 8% | — | 0.4 mi | Airbnb |
|Arbor Haus| Modern Sanctuary House | 2 bd · 2.5 ba · sleeps 10 | $107,229 | $449 | 65% | 5★ (15) | 0.5 mi | AirbnbVrbo |
Westside ^Cottage^ House | 3 bd · 2 ba · sleeps 6 | $32,594 | $111 | 80% | 4.9★ (111) | 0.6 mi | AirbnbVrbo |
Charming and Spacious Renovated 1940’s Home House | 4 bd · 2 ba · sleeps 8 | $1,209 | $0 | — | 5★ (41) | 0.7 mi | AirbnbVrbo |
|The Ritz 66| Posh + Pool + Views! House | 3 bd · 2.5 ba · sleeps 12 | $769 | $384 | 1% | — | 0.7 mi | Airbnb |
Revenue and nightly rate (ADR) are trailing-12-month figures per listing. Occupancy is estimated as revenue ÷ ADR ÷ 365 and can read high when revenue includes cleaning fees.
Cash flow calculator
Est. revenue
$54,283
NOI
$27,487
Cash flow /mo
$2,291
Cash needed
$476,060
Cash-on-cash (all cash)
5.8%
ROE (yr 1)
8.5%
Cap rate
6.3%
DSCR
—
Year-1 write-off
$103,713
Year-1 tax shield @ 32%
$33,188
Year-1 return on equity
- Cash flow (annual)$27,487
- Principal paydown (n/a, cash)$0
- Appreciation at%$13,170
Opex, cash-needed & tax-savings breakdown
Annual operating expenses
- Management (20% of revenue)$10,857
- Platform fees (3% of revenue)$1,628
- Maintenance / capex (5% of revenue)$2,714
- Utilities & supplies$4,200
- HOA$0
- Property tax$5,488
- Insurance (STR-rated)$2,568
Cash needed to close
- Purchase price (all cash)$439,000
- Closing costs (4.0%)$17,560
- Furnishing (bought new)$19,500
Tax savings if the STR loophole applies
- Tax shield @ 32%$33,188
Property tax, insurance rate and the land/building split come from this listing's county tax record; other assumptions match the daily feed (see tasks/plan.md).
The write-off comes from the cost segregation estimate below. Not tax advice.
Cost segregation estimate
An estimate from the listing: every part of the home is priced from national construction costs, less wear for age, and the price (less land) is spread over the parts in proportion. The headline is what a typical cost seg study would claim for this property. The answers below are optional refinements.
Depreciable basis
$359,000
Short-life (5/15-yr)
$83,000 · 23%
Year-1 deduction
$104,000
Year-1 tax shield @ 32%
$33,000
Land 18% (county tax record, assessed value split) · building $276,000 over 39 years · new furniture $20,000
Based on: 1,508 sq ft, built 1988, 3 bd / 2 ba, unfurnished, listing features (flooring types).
IRS-guide safe-harbor floor: $76,000 in year 1 (15% short-life, $24,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $11,300
Kitchen cabinetsdefault
$9,100 new × 40% good × 3.09 allocation
- $9,200
Kitchen countertopsdefault
$7,500 new × 40% good × 3.09 allocation
- $3,300
Decorative trimdefault
$2,600 new × 40% good × 3.09 allocation
- $400
Mirrorsdefault
$300 new × 40% good × 3.09 allocation
- $1,500
Shelvingdefault
$1,200 new × 40% good × 3.09 allocation
- $4,600
Window coverings (15)default
$3,800 new × 40% good × 3.09 allocation
- $8,800
Kitchen & laundry equipment plumbingdefault
$7,100 new × 40% good × 3.09 allocation
- $5,300
Kitchen, laundry & data equipment electricaldefault
$4,300 new × 40% good × 3.09 allocation
- $10,000
Appliances (range, microwave, dishwasher, disposal, refrigerator, washer, dryer)default
$8,100 new × 40% good × 3.09 allocation
- $19,500
Furniture bought newlisting
$19,500 new × 100% good · bought separately
- $12,400
Paving: driveway & walks (paved)default
$8,100 new × 50% good × 3.09 allocation
- $12,000
Landscaping (typical)default
$7,700 new × 50% good × 3.09 allocation
- $2,300
Patiosdefault
$1,500 new × 50% good × 3.09 allocation
- $2,300
Decks & porches (attached)default
$1,500 new × 50% good × 3.09 allocation
- $201,900
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$163,300 new × 40% good × 3.09 allocation
- $20,900
Building plumbing & fixturesdefault
$16,900 new × 40% good × 3.09 allocation
- $20,300
Building electrical & lightingdefault
$16,400 new × 40% good × 3.09 allocation
- $21,000
HVACdefault
$17,000 new × 40% good × 3.09 allocation
- $12,000
Hardwood & tile floorsdefault
$9,700 new × 40% good × 3.09 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $73,800 | $29,000 | $900 | $103,700 |
| 2 | $0 | $0 | $7,100 | $7,100 |
| 3 | $0 | $0 | $7,100 | $7,100 |
| 4 | $0 | $0 | $7,100 | $7,100 |
| 5 | $0 | $0 | $7,100 | $7,100 |
| 6+ | $0 | $0 | $246,900 | $246,900 |
| Total | $73,800 | $29,000 | $276,100 | $379,000 |
The building's share of the price ($359,000) is 3.1x our depreciated replacement cost of the home ($116,000). The IRS guide treats a gap this size as a reason to review the land share: if land is worth more than the county ratio says, the basis and the write-off are smaller.
Model-based estimate, not an engineered cost segregation study. The IRS doesn’t approve studies; get a professional study before filing. Using these losses against W-2 income needs the short-term rental exception (average stay ≤7 days + material participation). The 39-year building life applies because stays average under 30 days, a separate test (27.5 years for a long-term rental). Federal only: California and Georgia disallow bonus depreciation, Ohio adds back 5/6 of it, and Tennessee has no personal income tax. Not tax advice.
Market note
Rules differ by jurisdiction. City of Redding caps whole-home vacation rentals at 400 with a 600 ft spacing rule (300 ft with a physical buffer), and its permit is NOT transferable to a new owner. Shasta Lake city and unincorporated Shasta County allow permitted rentals with no cap found, but permits also do not transfer on sale. Lodging tax ~10% plus a 2% tourism assessment in Redding. Verify parcel eligibility with the city or county before you buy.