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931 Leisha Ln

931 Leisha Ln

Redding, CA 96001

$515,000

4 bd · 2.5 ba · 1,710 sqft · Listed 6d ago

View on Realtor.com →
Low confidence

Year built

2006

Sqft

1,710

Lot sqft

7,841

HOA / mo

$0

Furnished

No

List date

2026-09-23T22:50:54.000000Z

Revenue

Annual revenue

$68,373

ADR

$303

Occupancy

62%

Cleaning fees (12 mo)

$9,574

Confidence

Med (61.16), 7 comps

Comp revenue range (p25 / median / p75)

$51,890$78,802$98,039

  • Westside Charmer Near Trails

    House · 3 bd · 2 ba · sleeps 6 · 157 ft

    Revenue $43,636ADR $253Occ ≈ 47%4.8★ (28)

    AirbnbVrbo

  • Redding Getaway w/ Hot Tub & Outdoor Kitchen!

    House · 5 bd · 3 ba · sleeps 10 · 0.3 mi

    Revenue $111,817ADR $812Occ ≈ 38%4.8★ (35)

    AirbnbVrboBooking

  • Royal Oaks Cottage w/ direct park access

    House · 3 bd · 2 ba · sleeps 7 · 0.3 mi

    Revenue $36,398ADR $159Occ ≈ 63%4.9★ (179)

    Airbnb

  • Relaxing Pool | Heated Spa | EV charger

    House · 3 bd · 2 ba · sleeps 6 · 0.3 mi

    Revenue $78,802ADR $330Occ ≈ 65%5★ (79)

    AirbnbVrboBooking

  • FAMILY FUN GETAWAY !! 🎱🏓RecRoom⚽️🕹 BBQ♨️FirePit

    House · 4 bd · 3 ba · sleeps 10 · 0.4 mi

    Revenue $60,144ADR $341Occ ≈ 48%4.8★ (202)

    AirbnbVrbo

  • House In The Clouds - Perfect Summer Getaway

    House · 4 bd · 2 ba · sleeps 8 · 0.6 mi

    Revenue $97,172ADR $380Occ ≈ 70%4.8★ (83)

    AirbnbVrbo

  • House in the Clouds

    Vacation home · 4 bd · 2 ba · sleeps 8 · 0.6 mi

    Revenue $98,906ADR $352Occ ≈ 77%5★ (2)

    Booking

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

Financing

Est. revenue

$68,373

NOI

$36,351

Cash flow /mo

$3,029

Cash needed

$558,600

Cash-on-cash (all cash)

6.5%

ROE (yr 1)

9.3%

Cap rate

7.1%

DSCR

—

Year-1 write-off

$100,996

Year-1 tax shield @ 32%

$32,319

Year-1 return on equity

  • Cash flow (annual)$36,351
  • Principal paydown (n/a, cash)$0
  • Appreciation at%$15,450
ROE9.3%
ROE incl. year-1 tax savings (32% bracket, STR loophole)15.1%
Opex, cash-needed & tax-savings breakdown

Annual operating expenses

  • Management (20% of revenue)$13,675
  • Platform fees (3% of revenue)$2,051
  • Maintenance / capex (5% of revenue)$3,419
  • Utilities & supplies$4,200
  • HOA$0
  • Property tax$6,438
  • Insurance (STR-rated)$3,013

Cash needed to close

  • Purchase price (all cash)$515,000
  • Closing costs (4.0%)$20,600
  • Furnishing (bought new)$23,000

Tax savings if the STR loophole applies

  • Tax shield @ 32%$32,319

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

$431,000

Short-life (5/15-yr)

$77,000 · 18%

Year-1 deduction

$101,000

Year-1 tax shield @ 32%

$32,000

Land 16% (county tax record, assessed value split) · building $354,000 over 39 years · new furniture $23,000

Based on: 1,710 sq ft, built 2006, 4 bd / 2.5 ba, unfurnished, listing features (fireplace, flooring types).

IRS-guide safe-harbor floor: $79,000 in year 1 (13% short-life, $25,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$77,000

  • Kitchen cabinetsdefault

    $9,500 new × 40% good × 2.26 allocation

    $8,600

  • Kitchen countertopsdefault

    $7,800 new × 40% good × 2.26 allocation

    $7,100

  • Decorative trimdefault

    $3,000 new × 40% good × 2.26 allocation

    $2,700

  • Mirrorsdefault

    $300 new × 40% good × 2.26 allocation

    $300

  • Shelvingdefault

    $1,500 new × 40% good × 2.26 allocation

    $1,400

  • Window coverings (17)default

    $4,300 new × 40% good × 2.26 allocation

    $3,800

  • Carpet, vinyl & laminate (67% of floors)listing

    $7,300 new × 40% good × 2.26 allocation

    $6,600

  • Kitchen & laundry equipment plumbingdefault

    $7,400 new × 60% good × 2.26 allocation

    $10,100

  • Kitchen, laundry & data equipment electricaldefault

    $4,500 new × 60% good × 2.26 allocation

    $6,100

  • Appliances (range, microwave, dishwasher, disposal, refrigerator, washer, dryer)default

    $8,100 new × 40% good × 2.26 allocation

    $7,300

  • Furniture bought newlisting

    $23,000 new × 100% good · bought separately

    $23,000
15-year land improvements$22,800

  • Paving: driveway & walks (paved)default

    $8,600 new × 50% good × 2.26 allocation

    $9,700

  • Landscaping (typical)default

    $8,200 new × 50% good × 2.26 allocation

    $9,300

  • Patiosdefault

    $1,700 new × 50% good × 2.26 allocation

    $1,900

  • Decks & porches (attached)default

    $1,700 new × 50% good × 2.26 allocation

    $1,900
Building, 39-year$353,900

  • Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault

    $185,000 new × 67% good × 2.26 allocation

    $279,000

  • Building plumbing & fixturesdefault

    $19,200 new × 60% good × 2.26 allocation

    $26,100

  • Building electrical & lightingdefault

    $18,900 new × 60% good × 2.26 allocation

    $25,700

  • HVACdefault

    $19,300 new × 40% good × 2.26 allocation

    $17,400

  • Hardwood & tile floorsdefault

    $3,700 new × 40% good × 2.26 allocation

    $3,300

  • Fireplacelisting

    $2,600 new × 40% good × 2.26 allocation

    $2,400

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$77,000$22,800$1,100$101,000
2$0$0$9,100$9,100
3$0$0$9,100$9,100
4$0$0$9,100$9,100
5$0$0$9,100$9,100
6+$0$0$316,500$316,500
Total$77,000$22,800$353,900$453,800

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.