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Rate 7.78% = 7.03% Freddie Mac 30-yr avg (Sep 24) + 0.75% investor premium

4680 Fiddleneck Dr

4680 Fiddleneck Dr

Redding, CA 96002

$549,000

5 bd · 3 ba · 2,427 sqft · Listed 13d ago

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Low confidence

Year built

1989

Sqft

2,427

Lot sqft

13,504

HOA / mo

$0

Furnished

No

List date

2026-09-16T21:32:55.000000Z

Revenue

Annual revenue

$71,957

ADR

$427

Occupancy

46%

Cleaning fees (12 mo)

$12,140

Confidence

Low (11.69), 6 comps

Comp revenue range (p25 / median / p75)

$17,822$48,969$78,777

  • Evergreen Retreat | Spacious + family friendly

    House · 5 bd · 2.5 ba · sleeps 12 · 282 ft

    Revenue $79,913ADR $540Occ ≈ 41%4.8★ (30)

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  • Large Redding, CA Oasis

    House · 5 bd · 3 ba · sleeps 15 · 1.2 mi

    Revenue $4,293ADR $505Occ ≈ 2%4★ (6)

    AirbnbBooking

  • Spacious 5-bedrooms house in fabulous Redding with Swimming pool 12 beds,3 bath

    House · 5 bd · 3 ba · sleeps 12 · 1.3 mi

    Revenue $22,569ADR $561Occ ≈ 11%4.4★ (3)

    Vrbo

  • Large 5 bedroom house South Redding, great location,

    House · 5 bd · 3 ba · sleeps 15 · 1.3 mi

    Revenue $16,240ADR $435Occ ≈ 10%4.5★ (21)

    Vrbo

  • Casita Shasta: Spacious Poolside Retreat w/ Spa

    House · 5 bd · 3 ba · sleeps 10 · 1.6 mi

    Revenue $75,368ADR $395Occ ≈ 52%4.9★ (59)

    Airbnb

  • *Oasis Place* game room • heated pool • hot tub

    House · 5 bd · 3 ba · sleeps 12 · 1.8 mi

    Revenue $128,642ADR $592Occ ≈ 60%4.9★ (256)

    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

Financing
Term

Rate 7.78% = 7.03% Freddie Mac 30-yr avg (Sep 24) + 0.75% investor premium

Est. revenue

$71,957

NOI

$38,358

Cash flow /mo

$238

Cash needed

$185,710

Cash-on-cash

1.5%

ROE (yr 1)

12.3%

Cap rate

7.0%

DSCR

1.08

Year-1 write-off

$134,352

Year-1 tax shield @ 32%

$42,993

Year-1 return on equity

  • Cash flow (annual)$2,858
  • Principal paydown$3,593
  • Appreciation at%$16,470
ROE12.3%
ROE incl. year-1 tax savings (32% bracket, STR loophole)35.5%
Opex, cash-needed & tax-savings breakdown

Annual operating expenses

  • Management (20% of revenue)$14,391
  • Platform fees (3% of revenue)$2,159
  • Maintenance / capex (5% of revenue)$3,598
  • Utilities & supplies$4,200
  • HOA$0
  • Property tax$6,863
  • Insurance (STR-rated)$3,212

Cash needed to close

  • Down payment (25%)$137,250
  • Closing costs (4.0%)$21,960
  • Furnishing (bought new)$26,500

Tax savings if the STR loophole applies

  • Tax shield @ 32%$42,993

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

$476,000

Short-life (5/15-yr)

$107,000 · 22%

Year-1 deduction

$134,000

Year-1 tax shield @ 32%

$43,000

Land 13% (county tax record, assessed value split) · building $369,000 over 39 years · new furniture $27,000

Based on: 2,427 sq ft, built 1989, 5 bd / 3 ba, unfurnished, listing features (pool, fireplace, flooring types).

IRS-guide safe-harbor floor: $103,000 in year 1 (16% short-life, $33,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$94,500

  • Kitchen cabinetsdefault

    $11,100 new × 40% good × 2.61 allocation

    $11,600

  • Kitchen countertopsdefault

    $9,100 new × 40% good × 2.61 allocation

    $9,500

  • Decorative trimdefault

    $4,200 new × 40% good × 2.61 allocation

    $4,400

  • Mirrorsdefault

    $500 new × 40% good × 2.61 allocation

    $500

  • Shelvingdefault

    $1,800 new × 40% good × 2.61 allocation

    $1,900

  • Window coverings (24)default

    $6,000 new × 40% good × 2.61 allocation

    $6,300

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

    $10,400 new × 40% good × 2.61 allocation

    $10,900

  • Kitchen & laundry equipment plumbingdefault

    $8,700 new × 40% good × 2.61 allocation

    $9,000

  • Kitchen, laundry & data equipment electricaldefault

    $5,200 new × 40% good × 2.61 allocation

    $5,500

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

    $8,100 new × 40% good × 2.61 allocation

    $8,500

  • Furniture bought newlisting

    $26,500 new × 100% good · bought separately

    $26,500
15-year land improvements$38,700

  • Paving: driveway & walks (paved)default

    $10,200 new × 50% good × 2.61 allocation

    $13,300

  • Landscaping (typical)default

    $9,800 new × 50% good × 2.61 allocation

    $12,800

  • Patiosdefault

    $2,400 new × 50% good × 2.61 allocation

    $3,100

  • Decks & porches (attached)default

    $2,400 new × 50% good × 2.61 allocation

    $3,100

  • Pool (above-ground)listing

    $6,000 new × 40% good × 2.61 allocation

    $6,300
Building, 39-year$369,100

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

    $262,900 new × 40% good × 2.61 allocation

    $274,600

  • Building plumbing & fixturesdefault

    $27,300 new × 40% good × 2.61 allocation

    $28,600

  • Building electrical & lightingdefault

    $28,000 new × 40% good × 2.61 allocation

    $29,300

  • HVACdefault

    $27,300 new × 40% good × 2.61 allocation

    $28,600

  • Hardwood & tile floorsdefault

    $5,200 new × 40% good × 2.61 allocation

    $5,400

  • Fireplacelisting

    $2,600 new × 40% good × 2.61 allocation

    $2,700

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$94,500$38,700$1,200$134,400
2$0$0$9,500$9,500
3$0$0$9,500$9,500
4$0$0$9,500$9,500
5$0$0$9,500$9,500
6+$0$0$330,100$330,100
Total$94,500$38,700$369,100$502,300

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.