4381 Key West Dr
Redding, CA 96002
$629,000
4 bd · 2 ba · 2,288 sqft · Listed 1d ago
View on Realtor.com →Year built
2002
Sqft
2,288
Lot sqft
14,810
HOA / mo
$43
Furnished
No
List date
2026-10-16T19:18:30.000000Z
Revenue
Annual revenue
$71,816
ADR
$333
Occupancy
59%
Cleaning fees (12 mo)
$11,400
Confidence
Low (12.74), 7 comps
Comp revenue range (p25 / median / p75)
Few similar-size comps were found, so all comps are shown.
Median revenue of shown comps: $50,170
House+ADU+Pool + RV/Boat Parking
House · 4 bd · 3 ba · sleeps 10 · 1.0 mi
- Pool
- A/C
- Free parking
- Pets OK
- +3
Revenue $4,286ADR $499Occ ≈ 2%5★ (6)
Redding retreat for Large Family / Entire house
House · 4 bd · 2 ba · sleeps 8 · 1.4 mi
- A/C
- Wifi
- Kitchen
- Washer
- +1
Revenue $37,145ADR $227Occ ≈ 45%5★ (123)
❤️FULLY LOADED 2🔥 3BR 2 Bath SMARTHOME! 🏠 BY LAKE 🌊
House · 4 bd · 2 ba · sleeps 14 · 1.7 mi
Revenue $3,272ADR $300Occ ≈ 3%4.7★ (65)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
The W Resort Outdoor Kitchen Pool Hot Tub Oasis House
| 4 bd · 2.5 ba · sleeps 10 | $135,416 | $615 | 60% | 4.8★ (37) | 0.8 mi | AirbnbVrbo |
Forest Hill Resort: Heated Pool +Billiards +Trails House
| 4 bd · 2 ba · sleeps 12 | $102,651 | $524 | 54% | 4.9★ (146) | 0.8 mi | AirbnbVrbo |
House+ADU+Pool + RV/Boat Parking House
| 4 bd · 3 ba · sleeps 10 | $4,286 | $499 | 2% | 5★ (6) | 1.0 mi | Airbnb |
Redding retreat for Large Family / Entire house House
| 4 bd · 2 ba · sleeps 8 | $37,145 | $227 | 45% | 5★ (123) | 1.4 mi | Airbnb |
4bdr Pet Friendly + 3 Kings + EV + Trailer Parking House
| 4 bd · 2 ba · sleeps 8 | $59,204 | $283 | 57% | 5★ (67) | 1.7 mi | AirbnbVrbo |
❤️FULLY LOADED 2🔥 3BR 2 Bath SMARTHOME! 🏠 BY LAKE 🌊 House | 4 bd · 2 ba · sleeps 14 | $3,272 | $300 | 3% | 4.7★ (65) | 1.7 mi | Airbnb |
Large 4 bedroom w/ play space, office, 3 king beds House
| 4 bd · 3 ba · sleeps 10 | $50,170 | $247 | 56% | 5★ (43) | 1.8 mi | AirbnbVrbo |
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 8.15% = 7.40% Freddie Mac 30-yr avg (Oct 15) + 0.75% investor premium
Est. revenue
$71,816
NOI
$36,393
Cash flow /mo
-$478
Cash needed
$205,410
Cash-on-cash
-2.8%
ROE (yr 1)
8.3%
Cap rate
5.8%
DSCR
0.86
Year-1 write-off
$170,710
Year-1 tax shield @ 32%
$54,627
Year-1 return on equity
- Cash flow (annual)-$5,739
- Principal paydown$3,825
- Appreciation at%$18,870
Tax savings aren't counted. Turn on “Count tax savings in returns” above if you can use the losses.
Opex, cash-needed & tax-savings breakdown
Annual operating expenses
- Management (20% of revenue)$14,363
- Platform fees (3% of revenue)$2,154
- Maintenance / capex (5% of revenue)$3,591
- Utilities & supplies$4,200
- HOA$516
- Property tax$7,863
- Insurance (STR-rated)$3,680
Cash needed to close
- Down payment (25%)$157,250
- Closing costs (4.0%)$25,160
- Furnishing (bought new)$23,000
Tax savings if the STR loophole applies
- Tax shield @ 32%$54,627
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
$522,000
Short-life (5/15-yr)
$147,000 · 28%
Year-1 deduction
$171,000
Year-1 tax shield @ 32%
$55,000
Land 17% (county tax record, assessed value split) · building $375,000 over 39 years · new furniture $23,000
Based on: 2,288 sq ft, built 2002, 4 bd / 2 ba, unfurnished, listing features (pool, fence, flooring types).
Try the cost segregation calculator on any property →
IRS-guide safe-harbor floor: $148,000 in year 1 (24% short-life, $47,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $8,600
Kitchen cabinetsdefault
$10,800 new × 40% good × 1.98 allocation
- $7,000
Kitchen countertopsdefault
$8,800 new × 40% good × 1.98 allocation
- $3,200
Decorative trimdefault
$4,000 new × 40% good × 1.98 allocation
- $200
Mirrorsdefault
$300 new × 40% good × 1.98 allocation
- $1,200
Shelvingdefault
$1,500 new × 40% good × 1.98 allocation
- $4,600
Window coverings (23)default
$5,800 new × 40% good × 1.98 allocation
- $5,800
Carpet, vinyl & laminate (50% of floors)listing
$7,400 new × 40% good × 1.98 allocation
- $8,700
Kitchen & laundry equipment plumbingdefault
$8,400 new × 52% good × 1.98 allocation
- $5,200
Kitchen, laundry & data equipment electricaldefault
$5,100 new × 52% good × 1.98 allocation
- $6,400
Appliances (range, microwave, dishwasher, disposal, refrigerator, washer, dryer)default
$8,100 new × 40% good × 1.98 allocation
- $23,000
Furniture bought newlisting
$23,000 new × 100% good · bought separately
- $12,300
Paving: driveway & walks (paved)default
$12,400 new × 50% good × 1.98 allocation
- $9,400
Landscaping (typical)default
$9,500 new × 50% good × 1.98 allocation
- $2,200
Patiosdefault
$2,300 new × 50% good × 1.98 allocation
- $2,200
Decks & porches (attached)default
$2,300 new × 50% good × 1.98 allocation
- $64,300
Pool (in-ground)listing
$65,000 new × 50% good × 1.98 allocation
- $5,900
Fencinglisting
$6,000 new × 50% good × 1.98 allocation
- $294,800
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$248,200 new × 60% good × 1.98 allocation
- $26,500
Building plumbing & fixturesdefault
$25,800 new × 52% good × 1.98 allocation
- $27,000
Building electrical & lightingdefault
$26,300 new × 52% good × 1.98 allocation
- $20,400
HVACdefault
$25,800 new × 40% good × 1.98 allocation
- $5,800
Hardwood & tile floorsdefault
$7,400 new × 40% good × 1.98 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $73,900 | $96,500 | $400 | $170,700 |
| 2 | $0 | $0 | $9,600 | $9,600 |
| 3 | $0 | $0 | $9,600 | $9,600 |
| 4 | $0 | $0 | $9,600 | $9,600 |
| 5 | $0 | $0 | $9,600 | $9,600 |
| 6+ | $0 | $0 | $335,800 | $335,800 |
| Total | $73,900 | $96,500 | $374,600 | $544,900 |
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, Georgia and Wisconsin 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.