1421 Spinnaker Dr
Redding, CA 96003
$535,000
3 bd · 2 ba · 2,054 sqft · Listed 10d ago
View on Realtor.com →Year built
2020
Sqft
2,054
Lot sqft
11,326
HOA / mo
$0
Furnished
No
List date
2026-09-19T14:53:36.000000Z
Revenue
Annual revenue
$51,273
ADR
$190
Occupancy
74%
Cleaning fees (12 mo)
$6,182
Confidence
Low (29.61), 16 comps
Comp revenue range (p25 / median / p75)
Cozy Modern Home with Views | Quiet & Central
House · 3 bd · 2 ba · sleeps 5 · 0.4 mi
Revenue $11,945ADR $206Occ ≈ 16%5★ (1)
Shasta Lake Sanctuary!
House · 3 bd · 2 ba · sleeps 8 · 1.0 mi
Revenue $90,551ADR $503Occ ≈ 49%4.8★ (15)
|The Ritz 66| Posh + Pool + Views!
House · 3 bd · 2.5 ba · sleeps 12 · 1.1 mi
Revenue $769ADR $384Occ ≈ 1%—
The Watercress*walk by the river play in the park!
House · 3 bd · 2 ba · sleeps 6 · 1.7 mi
Revenue $45,772ADR $164Occ ≈ 76%4.8★ (217)
Royal Oaks Cottage w/ direct park access
House · 3 bd · 2 ba · sleeps 7 · 1.8 mi
Revenue $36,398ADR $159Occ ≈ 63%4.9★ (179)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Cozy Modern Home with Views | Quiet & Central House | 3 bd · 2 ba · sleeps 5 | $11,945 | $206 | 16% | 5★ (1) | 0.4 mi | Airbnb |
2 Kings~10 min Bethel~5 min downtown House | 3 bd · 2 ba · sleeps 8 | $47,086 | $224 | 58% | 5★ (104) | 0.8 mi | AirbnbVrbo |
Shasta Lake Sanctuary! House | 3 bd · 2 ba · sleeps 8 | $90,551 | $503 | 49% | 4.8★ (15) | 1.0 mi | Airbnb |
|The Ritz 66| Posh + Pool + Views! House | 3 bd · 2.5 ba · sleeps 12 | $769 | $384 | 1% | — | 1.1 mi | Airbnb |
Lakes and Bethel close by 30 days Apartment | 3 bd · 2 ba · sleeps 6 | $24,474 | $147 | 46% | 4.8★ (28) | 1.3 mi | AirbnbVrbo |
|Riverside Retreat| Pool - Spa - River Trail House | 3 bd · 2 ba · sleeps 8 | $77,767 | $323 | 66% | 4.8★ (186) | 1.4 mi | AirbnbVrbo |
Panorama green belt view with hot tub & fireplace House | 3 bd · 2 ba · sleeps 6 | $50,944 | $227 | 61% | 5★ (50) | 1.4 mi | AirbnbVrbo |
Kingsview Luxury above the city 1 King 2 Queens House | 3 bd · 2 ba · sleeps 6 | $105,338 | $417 | 69% | 4.9★ (81) | 1.6 mi | AirbnbVrbo |
The Watercress*walk by the river play in the park! House | 3 bd · 2 ba · sleeps 6 | $45,772 | $164 | 76% | 4.8★ (217) | 1.7 mi | Airbnb |
Royal Oaks Cottage w/ direct park access House | 3 bd · 2 ba · sleeps 7 | $36,398 | $159 | 63% | 4.9★ (179) | 1.8 mi | Airbnb |
Show all 16 comps
Havilah-Midcentury Modern 3/3 home
House · 3 bd · 3 ba · sleeps 7 · 1.8 mi
Revenue $31,363ADR $100Occ ≈ 86%4.5★ (8)
Long Term sleeps 6 Rose Garden Retreat
House · 3 bd · 1 ba · sleeps 6 · 2.0 mi
Revenue $10,740ADR $71Occ ≈ 41%5★ (1)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Havilah-Midcentury Modern 3/3 home House | 3 bd · 3 ba · sleeps 7 | $31,363 | $100 | 86% | 4.5★ (8) | 1.8 mi | Airbnb |
Westside ^Cottage^ House | 3 bd · 2 ba · sleeps 6 | $32,594 | $111 | 80% | 4.9★ (111) | 1.9 mi | AirbnbVrbo |
Westside Charmer Near Trails House | 3 bd · 2 ba · sleeps 6 | $43,636 | $253 | 47% | 4.8★ (28) | 2.0 mi | AirbnbVrbo |
House of Favor, King Bed + 4Twins,Close to Bethel House | 3 bd · 2 ba · sleeps 6 | $10,693 | $183 | 16% | 4.7★ (376) | 2.0 mi | AirbnbVrboBooking |
Long Term sleeps 6 Rose Garden Retreat House | 3 bd · 1 ba · sleeps 6 | $10,740 | $71 | 41% | 5★ (1) | 2.0 mi | Airbnb |
Relaxing Pool | Heated Spa | EV charger House | 3 bd · 2 ba · sleeps 6 | $78,802 | $330 | 65% | 5★ (79) | 2.0 mi | AirbnbVrboBooking |
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
Rate 7.78% = 7.03% Freddie Mac 30-yr avg (Sep 24) + 0.75% investor premium
Est. revenue
$51,273
NOI
$23,702
Cash flow /mo
-$908
Cash needed
$174,650
Cash-on-cash
-6.2%
ROE (yr 1)
5.0%
Cap rate
4.4%
DSCR
0.69
Year-1 write-off
$106,195
Year-1 tax shield @ 32%
$33,982
Year-1 return on equity
- Cash flow (annual)-$10,893
- Principal paydown$3,501
- Appreciation at%$16,050
Opex, cash-needed & tax-savings breakdown
Annual operating expenses
- Management (20% of revenue)$10,255
- Platform fees (3% of revenue)$1,538
- Maintenance / capex (5% of revenue)$2,564
- Utilities & supplies$4,200
- HOA$0
- Property tax$6,688
- Insurance (STR-rated)$3,130
Cash needed to close
- Down payment (25%)$133,750
- Closing costs (4.0%)$21,400
- Furnishing (bought new)$19,500
Tax savings if the STR loophole applies
- Tax shield @ 32%$33,982
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
$441,000
Short-life (5/15-yr)
$86,000 · 19%
Year-1 deduction
$106,000
Year-1 tax shield @ 32%
$34,000
Land 18% (county tax record, assessed value split) · building $356,000 over 39 years · new furniture $20,000
Based on: 2,054 sq ft, built 2020, 3 bd / 2 ba, unfurnished, listing features (fireplace, stone counters, flooring types).
IRS-guide safe-harbor floor: $77,000 in year 1 (13% short-life, $25,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $10,700
Kitchen cabinetsdefault
$10,300 new × 76% good × 1.37 allocation
- $11,000
Kitchen countertops (stone)listing
$10,500 new × 76% good × 1.37 allocation
- $3,700
Decorative trimdefault
$3,600 new × 76% good × 1.37 allocation
- $200
Mirrorsdefault
$300 new × 50% good × 1.37 allocation
- $1,200
Shelvingdefault
$1,200 new × 76% good × 1.37 allocation
- $2,900
Window coverings (21)default
$5,300 new × 40% good × 1.37 allocation
- $9,100
Carpet, vinyl & laminate (100% of floors)listing
$13,200 new × 50% good × 1.37 allocation
- $9,700
Kitchen & laundry equipment plumbingdefault
$8,000 new × 88% good × 1.37 allocation
- $5,800
Kitchen, laundry & data equipment electricaldefault
$4,800 new × 88% good × 1.37 allocation
- $5,500
Appliances (range, microwave, dishwasher, disposal, refrigerator, washer, dryer)default
$8,100 new × 50% good × 1.37 allocation
- $19,500
Furniture bought newlisting
$19,500 new × 100% good · bought separately
- $12,200
Paving: driveway & walks (paved)default
$11,700 new × 76% good × 1.37 allocation
- $9,400
Landscaping (typical)default
$9,000 new × 76% good × 1.37 allocation
- $2,100
Patiosdefault
$2,000 new × 76% good × 1.37 allocation
- $1,900
Decks & porches (attached)default
$2,000 new × 70% good × 1.37 allocation
- $274,800
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$222,900 new × 90% good × 1.37 allocation
- $27,900
Building plumbing & fixturesdefault
$23,100 new × 88% good × 1.37 allocation
- $28,100
Building electrical & lightingdefault
$23,300 new × 88% good × 1.37 allocation
- $22,200
HVACdefault
$23,100 new × 70% good × 1.37 allocation
- $2,700
Fireplacelisting
$2,600 new × 76% good × 1.37 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $79,400 | $25,700 | $1,100 | $106,200 |
| 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 | $318,100 | $318,100 |
| Total | $79,400 | $25,700 | $355,700 | $460,700 |
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.