| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Fair |
| Demographics | 37th | Poor |
| Amenities | 22nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2100 Morningstar Way, Shasta Lake, CA, 96019, US |
| Region / Metro | Shasta Lake |
| Year of Construction | 1992 |
| Units | 38 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2100 Morningstar Way Shasta Lake Multifamily Investment
Neighborhood occupancy is solidly above metro norms and the 1992 vintage positions the asset competitively against older local stock, according to WDSuite s CRE market data. Expect steady renter demand driven by a growing nearby household base and ownership costs that nudge households toward multifamily.
The property sits in an Inner Suburb of the Redding, CA metro with a neighborhood rating of B-. Neighborhood occupancy is in the top quartile among 71 metro neighborhoods and in the 78th percentile nationally, indicating comparatively stable leasing conditions for multifamily. Note that this refers to the neighborhood s occupancy, not the property.
Local amenities are mixed: pharmacy access ranks competitively (10th of 71 in the metro; 76th percentile nationally) and restaurants are serviceable (14th of 71; 58th percentile nationally), while cafes, groceries, and parks are sparse within the immediate neighborhood. Average public school ratings rank 5th among 71 metro neighborhoods (61st percentile nationally), an above-median education signal for families weighing location quality.
The area s housing stock skews older (average construction year 1968), while this property s 1992 vintage offers relative competitiveness versus older comparables and may reduce near-term systems risk while still leaving room for selective modernization. Renter-occupied housing accounts for roughly two-fifths of neighborhood units, supporting a meaningful tenant base and underpinning demand for midsize multifamily assets.
Within a 3-mile radius, demographics point to a larger tenant base over recent years: population and households have grown, and WDSuite data indicate a projected increase in the renter share alongside higher household incomes. This combination tends to support occupancy stability and leasing velocity. Elevated value-to-income measures (72nd percentile nationally) signal a higher-cost ownership context relative to incomes, which can reinforce reliance on rentals. Rent-to-income levels appear manageable by regional standards, aiding retention and minimizing turnover pressure.
Safety indicators are comparatively weaker: the neighborhood ranks near the higher-crime end of the 71 Redding neighborhoods and sits below the national median by percentile. In practical terms, investors often budget for visible property management presence, lighting, and access controls to support resident comfort and retention. Trends should be monitored, as year-over-year changes can influence operating practices and insurance costs.
This 38-unit property s 1992 vintage stands newer than much of the surrounding housing stock, offering relative competitiveness and potential to capture demand without immediate heavy capital needs. Neighborhood occupancy is top quartile within the Redding metro and above national medians, which supports stable leasing performance. According to CRE market data from WDSuite, within 3 miles the household base has expanded and the renter share is expected to rise, reinforcing the depth of the tenant pool.
Ownership costs benchmark higher relative to incomes in this area, which typically sustains reliance on rentals and can support pricing power when paired with prudent lease management. The trade-off is thinner amenity density in the immediate neighborhood and safety metrics that are below national averages, warranting proactive operations and security planning.
- Top-quartile neighborhood occupancy vs. metro supports leasing stability
- 1992 vintage competes well against older local stock with selective value-add potential
- Growing nearby households and rising renter share expand the tenant base (3-mile radius)
- Higher ownership costs relative to incomes reinforce sustained multifamily demand
- Risks: thinner amenity density and below-median safety suggest active management and security investment