21417 Gilbert Dr
Redding, CA 96002
$895,000
3 bd · 2.5 ba · 2,472 sqft · Listed 1d ago
View on Realtor.com →Year built
1990
Sqft
2,472
Lot sqft
395,960
HOA / mo
$0
Furnished
No
List date
2026-11-12T22:45:06.000000Z
Revenue
Annual revenue
$51,934
ADR
$352
Occupancy
40%
Cleaning fees (12 mo)
$10,044
Confidence
Low (43.08), 5 comps
Comp revenue range (p25 / median / p75)
Few similar-size comps were found, so all comps are shown.
Median revenue of shown comps: $46,575
-The Bluebird- Located on our Flower Farm
Farm stay · 4 bd · 2 ba · sleeps 6 · 1.6 mi
Revenue $63,469ADR $497Occ ≈ 35%5★ (11)
Delisted
Revival Ranchette - Mountain Views
House · 4 bd · 2.5 ba · sleeps 8 · 1.8 mi
Revenue $46,575ADR $568Occ ≈ 22%5★ (42)
Delisted
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Palo Cedro 22-Acre ViewPoint Lodge House
| 3 bd · 3 ba · sleeps 8 | $27,795 | $293 | 26% | 5★ (23) | 0.8 mi | AirbnbVrbo |
***Redding Country Cottage*** House
| 2 bd · 1 ba · sleeps 4 | $26,012 | $81 | 88% | 5★ (40) | 1.2 mi | AirbnbVrbo |
Farm house on 36 beautiful acres House
| 4 bd · 3 ba · sleeps 12 | $98,257 | $937 | 29% | 4.6★ (49) | 1.2 mi | AirbnbVrbo |
-The Bluebird- Located on our Flower Farm Farm stay | 4 bd · 2 ba · sleeps 6 | $63,469 | $497 | 35% | 5★ (11) | 1.6 mi | Delisted |
Revival Ranchette - Mountain Views House | 4 bd · 2.5 ba · sleeps 8 | $46,575 | $568 | 22% | 5★ (42) | 1.8 mi | Delisted |
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 7.86% = 7.11% Freddie Mac 30-yr avg (Nov 12) + 0.75% investor premium
Est. revenue
$51,934
NOI
$18,112
Cash flow /mo
-$3,351
Cash needed
$279,050
Cash-on-cash
-14.4%
ROE (yr 1)
-2.7%
Cap rate
2.0%
DSCR
0.31
Year-1 write-off
$200,408
Year-1 tax shield @ 32%
$64,131
Year-1 return on equity
- Cash flow (annual)-$40,209
- Principal paydown$5,765
- Appreciation at%$26,850
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)$10,387
- Platform fees (3% of revenue)$1,558
- Maintenance / capex (5% of revenue)$2,597
- Utilities & supplies$4,200
- HOA$0
- Property tax$11,188
- Insurance (STR-rated)$5,236
Cash needed to close
- Down payment (25%)$223,750
- Closing costs (4.0%)$35,800
- Furnishing (bought new)$19,500
Tax savings if the STR loophole applies
- Tax shield @ 32%$64,131
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
$831,000
Short-life (5/15-yr)
$180,000 · 22%
Year-1 deduction
$200,000
Year-1 tax shield @ 32%
$64,000
Land 7% (county tax record, assessed value split) · building $651,000 over 39 years · new furniture $20,000
Based on: 2,472 sq ft, built 1990, 3 bd / 2.5 ba, unfurnished, listing features (flooring types, septic).
Try the cost segregation calculator on any property →
IRS-guide safe-harbor floor: $149,000 in year 1 (15% short-life, $48,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $19,800
Kitchen cabinetsdefault
$11,200 new × 40% good × 4.42 allocation
- $16,200
Kitchen countertopsdefault
$9,200 new × 40% good × 4.42 allocation
- $7,700
Decorative trimdefault
$4,300 new × 40% good × 4.42 allocation
- $500
Mirrorsdefault
$300 new × 40% good × 4.42 allocation
- $2,100
Shelvingdefault
$1,200 new × 40% good × 4.42 allocation
- $11,100
Window coverings (25)default
$6,300 new × 40% good × 4.42 allocation
- $28,100
Carpet, vinyl & laminate (100% of floors)listing
$15,900 new × 40% good × 4.42 allocation
- $15,400
Kitchen & laundry equipment plumbingdefault
$8,700 new × 40% good × 4.42 allocation
- $9,300
Kitchen, laundry & data equipment electricaldefault
$5,300 new × 40% good × 4.42 allocation
- $14,300
Appliances (range, microwave, dishwasher, disposal, refrigerator, washer, dryer)default
$8,100 new × 40% good × 4.42 allocation
- $19,500
Furniture bought newlisting
$19,500 new × 100% good · bought separately
- $22,800
Paving: driveway & walks (paved)default
$10,300 new × 50% good × 4.42 allocation
- $21,900
Landscaping (typical)default
$9,900 new × 50% good × 4.42 allocation
- $5,400
Patiosdefault
$2,400 new × 50% good × 4.42 allocation
- $5,400
Decks & porches (attached)default
$2,400 new × 50% good × 4.42 allocation
- $475,200
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$268,600 new × 40% good × 4.42 allocation
- $49,300
Building plumbing & fixturesdefault
$27,900 new × 40% good × 4.42 allocation
- $50,600
Building electrical & lightingdefault
$28,600 new × 40% good × 4.42 allocation
- $49,300
HVACdefault
$27,800 new × 40% good × 4.42 allocation
- $26,500
Septic systemlisting
$12,000 new × 50% good × 4.42 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $144,200 | $55,500 | $700 | $200,400 |
| 2 | $0 | $0 | $16,700 | $16,700 |
| 3 | $0 | $0 | $16,700 | $16,700 |
| 4 | $0 | $0 | $16,700 | $16,700 |
| 5 | $0 | $0 | $16,700 | $16,700 |
| 6+ | $0 | $0 | $583,400 | $583,400 |
| Total | $144,200 | $55,500 | $650,900 | $850,600 |
The building's share of the price ($831,000) is 4.4x our depreciated replacement cost of the home ($188,000). The IRS guide treats a gap this size as a reason to review the land share: if land is worth more than the county ratio says, the basis and the write-off are smaller.
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.