2681 Irwin Rd

Redding, CA 96002

$150,000

3 bd · 1 ba · 1,056 sqft · Listed 12d ago

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Low confidence

Year built

1959

Sqft

1,056

Lot sqft

16,553

HOA / mo

Furnished

List date

2026-09-17T18:09:27.000000Z

Revenue

Annual revenue

$33,143

ADR

$133

Occupancy

68%

Cleaning fees (12 mo)

$3,908

Confidence

Low (15.24), 7 comps

Comp revenue range (p25 / median / p75)

$6,942$25,143$40,685

Desert Chic Meets California Cool in Redding
House · 3 bd · 2 ba · sleeps 6 · 0.1 mi
Revenue $3,163ADR $210Occ ≈ 4%1★ (1)
Airbnb
The Reservoir Home 3BR near Pickleball
House · 3 bd · 2 ba · sleeps 7 · 0.2 mi
Revenue $867ADR $123Occ ≈ 2%—
Airbnb
“The Lion’s Keep”, Entire 3/2 residential home
House · 3 bd · 2 ba · sleeps 6 · 0.3 mi
Revenue $44,762ADR $171Occ ≈ 72%5★ (91)
Airbnb
Cozy Blue Cottage
House · 3 bd · 1 ba · sleeps 6 · 0.5 mi
Revenue $25,143ADR $101Occ ≈ 68%4.9★ (16)
Airbnb
Cozy 3/2 Mid-Century Modern Home With Backyard
House · 3 bd · 2 ba · sleeps 6 · 0.5 mi
Revenue $10,721ADR $101Occ ≈ 29%4.8★ (8)
Airbnb
* * *Carpenter Lane* * *
House · 3 bd · 2 ba · sleeps 6 · 0.6 mi
Revenue $56,514ADR $206Occ ≈ 75%4.9★ (225)
Airbnb Vrbo
Oh Joy! 3 beds 2 baths Organic Avocado mattress
House · 3 bd · 2 ba · sleeps 6 · 0.7 mi
Revenue $36,607ADR $207Occ ≈ 48%4.7★ (46)
Airbnb Booking

Listing	Size	Revenue (12 mo)	ADR	Occ ≈	Rating	Distance	Links
Desert Chic Meets California Cool in Redding House	3 bd · 2 ba · sleeps 6	$3,163	$210	4%	1★ (1)	0.1 mi	Airbnb
The Reservoir Home 3BR near Pickleball House	3 bd · 2 ba · sleeps 7	$867	$123	2%	—	0.2 mi	Airbnb
“The Lion’s Keep”, Entire 3/2 residential home House	3 bd · 2 ba · sleeps 6	$44,762	$171	72%	5★ (91)	0.3 mi	Airbnb
Cozy Blue Cottage House	3 bd · 1 ba · sleeps 6	$25,143	$101	68%	4.9★ (16)	0.5 mi	Airbnb
Cozy 3/2 Mid-Century Modern Home With Backyard House	3 bd · 2 ba · sleeps 6	$10,721	$101	29%	4.8★ (8)	0.5 mi	Airbnb
* * Carpenter Lane * * House	3 bd · 2 ba · sleeps 6	$56,514	$206	75%	4.9★ (225)	0.6 mi	Airbnb Vrbo
Oh Joy! 3 beds 2 baths Organic Avocado mattress House	3 bd · 2 ba · sleeps 6	$36,607	$207	48%	4.7★ (46)	0.7 mi	Airbnb 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

Purchase priceAlready furnishedTax bracket

Est. revenue

$33,143

NOI

$17,135

Cash flow /mo

$1,428

Cash needed

$175,500

Cash-on-cash (all cash)

9.8%

ROE (yr 1)

12.3%

Cap rate

11.4%

DSCR

—

Year-1 write-off

$48,681

Year-1 tax shield @ 32%

$15,578

Year-1 return on equity

Cash flow (annual)$17,135
Principal paydown (n/a, cash)$0
Appreciation at%$4,500

ROE12.3%

ROE incl. year-1 tax savings (32% bracket, STR loophole)21.2%

Opex, cash-needed & tax-savings breakdown

Annual operating expenses

Management (20% of revenue)$6,629
Platform fees (3% of revenue)$994
Maintenance / capex (5% of revenue)$1,657
Utilities & supplies$4,200
HOA$0
Property tax$1,875
Insurance (STR-rated)$878

Cash needed to close

Purchase price (all cash)$150,000
Closing costs (4.0%)$6,000
Furnishing (bought new)$19,500

Tax savings if the STR loophole applies

Tax shield @ 32%$15,578

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

$96,000

Short-life (5/15-yr)

$29,000 · 30%

Year-1 deduction

$49,000

Year-1 tax shield @ 32%

$16,000

Land 36% (county tax record, assessed value split) · building $67,000 over 39 years · new furniture $20,000

Based on: 1,056 sq ft, built 1959, 3 bd / 1 ba, unfurnished, listing features (fireplace, flooring types).

IRS-guide safe-harbor floor: $40,000 in year 1 (21% short-life, $13,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$39,900

Kitchen cabinetsdefault
$8,100 new × 40% good × 1.12 allocation
$3,600
Kitchen countertopsdefault
$6,600 new × 40% good × 1.12 allocation
$3,000
Decorative trimdefault
$1,800 new × 40% good × 1.12 allocation
$800
Mirrorsdefault
$200 new × 40% good × 1.12 allocation
$100
Shelvingdefault
$1,200 new × 40% good × 1.12 allocation
$500
Window coverings (11)default
$2,800 new × 40% good × 1.12 allocation
$1,200
Carpet, vinyl & laminate (100% of floors)listing
$6,800 new × 40% good × 1.12 allocation
$3,000
Kitchen & laundry equipment plumbingdefault
$6,300 new × 40% good × 1.12 allocation
$2,800
Kitchen, laundry & data equipment electricaldefault
$3,800 new × 40% good × 1.12 allocation
$1,700
Appliances (range, microwave, dishwasher, disposal, refrigerator, washer, dryer)default
$8,100 new × 40% good × 1.12 allocation
$3,600
Furniture bought newlisting
$19,500 new × 100% good · bought separately
$19,500

15-year land improvements$8,500

Paving: driveway & walks (paved)default
$6,700 new × 50% good × 1.12 allocation
$3,800
Landscaping (typical)default
$6,500 new × 50% good × 1.12 allocation
$3,600
Patiosdefault
$1,000 new × 50% good × 1.12 allocation
$600
Decks & porches (attached)default
$1,000 new × 50% good × 1.12 allocation
$600

Building, 39-year$67,500

Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$114,000 new × 40% good × 1.12 allocation
$50,900
Building plumbing & fixturesdefault
$11,800 new × 40% good × 1.12 allocation
$5,300
Building electrical & lightingdefault
$10,700 new × 40% good × 1.12 allocation
$4,800
HVACdefault
$11,900 new × 40% good × 1.12 allocation
$5,300
Fireplacelisting
$2,600 new × 40% good × 1.12 allocation
$1,200

About the property

Sold furnishedGame roomHot tubPoolDeckDrivewayLandscapingFencedIrrigationLong-term rental (27.5-yr)Carpet / vinyl / laminate %Placed in serviceClosing costs $ (adds to basis)Land %Bonus depreciation %

Depreciation schedule: typical cost seg study

Year	5-yr	15-yr	Building	Total
1	$39,900	$8,500	$200	$48,700
2	$0	$0	$1,700	$1,700
3	$0	$0	$1,700	$1,700
4	$0	$0	$1,700	$1,700
5	$0	$0	$1,700	$1,700
6+	$0	$0	$60,300	$60,300
Total	$39,900	$8,500	$67,500	$115,900

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 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.