8001 Northstar Dr Unit 414 - Feb. Wk. 2 Share 7 · Tahoe Vista, CA 96161

$225,000

3 bd · 3.5 ba · 2,272 sqft · SingleFamily · 360 Days on market

Built 2007 Good condition $99/sqft · 73% above area $1200/mo HOA · 27% of rent

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +29.3/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Rent growth +4.1/5.0
• Condition / age +4.0/5.0
• Livability +2.6/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Celebrate the Super Bowl from your Northstar penthouse retreat. Here’s your chance to own a 1/8th deeded share of a top-floor penthouse in the coveted Catamount Lodge, located in the heart of the Village at Northstar directly across from the Gondola. With your primary week locked in annually for the 2nd week of February—Super Bowl week— February 6 to February 13 where you can make this your ultimate winter tradition. Imagine kicking off the big game weekend with a powder day on the slopes and wrapping it up fireside in your own private alpine getaway. This share includes: Primary Week: Super Bowl Week (2nd week of February, Friday to Friday) 4 additional planned weeks per year. Planned with selection starts in October Planned weeks for 2026 are: Mar 27 - Apr 3 Jul 17-24 Aug 14-21 Oct 2-9 Unlimited 3–7 day stays booked within 30 days Unlimited 1–7 day short-notice stays booked within 7 days Friday-to-Friday check-in/out. Schedule runs with calendar year. Unlike many other fractional opportunities, this share is short-term rental eligible, and the Village at Northstar is exempt from local STR restrictions—offering both lifestyle and income flexibility. The residence itself—Catamount Lodge #414—is a 2,272 sq ft penthouse that spans two levels and features: 3 bedrooms, 3.5 bathrooms, including two primary suites A wraparound covered deck with 380 sq ft of outdoor space Vaulted ceilings, a dramatic great room with a stone fireplace Lofted office space, gourmet kitchen, and private balcony Newly upgraded with designer furnishings, flooring, paint, and artwork Ownership includes full access to resort-style amenities: slope-side convenience, outdoor hot tubs, heated pool, and fitness center, plus Tahoe Mountain Club membership while in residence, with ski valet, exclusive dining, and the Alpine Club at Northstar. Whether you're chasing powder, soaking in après-ski vibes, or hosting friends for the Super Bowl, this is fractional ownership at its most flexible and fun.

Key facts

• Top floor penthouse
• Fitness center
• Gourmet kitchen

Tags

• TOP FLOOR PENTHOUSE
• WRAPAROUND COVERED DECK
• OUTDOOR HOT TUBS
• HEATED POOL
• FITNESS CENTER
• GOURMET KITCHEN

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath single-family listed at $225k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $789 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $225k).
• Recommended offer: $198k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 1.7% in Tahoe Vista — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 52/100 on livability (#1,011 in CA) — a working-class tenant base; expect higher turnover. Strengths: crime A+, employment A+; Watch: schools F, amenities F, commute F.
• Tahoe-Truckee Unified (town): math 44% / reading 56% proficiency, ranked #136 of 517 in CA (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+6.6%/yr); 381 active listings in the ZIP; high-income renter base; 3,535 units permitted in Placer County in 2024 (689 in 5+ unit buildings).
• This rent runs 41% of the median local income ($132k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Placer County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 6.6% rent growth), your $63k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 360 days — a 12% lower offer ($198k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.

Recommended offer $198,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 360 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.99% ✓
• Cap rate: 10.50%
• Cash-on-cash: 15.03%
• DSCR: 1.67
• GRM: 4.2

CMA / ARV

• ARV (median comp): $130,150
• List price: $225,000
• Delta: 72.88%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8001 Northstar Dr Unit 414 - Presidents' Week	0.01mi	3/3.5	2,272 (0%)	17mo	$269,000	$118	86
2100 North Village Dr Unit 308/12	0.03mi	4/4.0 (+1)	2,400 (+6%)	2mo	$185,000	$77	80
2100 North Village Dr Unit 305/9	0.03mi	3/3.0	2,000 (-12%)	8mo	$120,000	$60	70
2100 North Village Dr Unit 402/14	0.03mi	4/4.0 (+1)	2,400 (+6%)	15mo	$185,000	$77	70
2100 North Village Dr Unit 302/6	0.03mi	4/4.0 (+1)	2,400 (+6%)	16mo	$185,000	$77	69
2100 North Village Dr Unit 304/8	0.03mi	3/3.0	2,000 (-12%)	11mo	$130,000	$65	67
15004 Peak View Pl	0.57mi	3/2.5	2,200 (-3%)	3mo	$479,000	$218	62
2100 North Village Dr Unit 50% of 403/15; N3-81	0.03mi	3/3.0	2,000 (-12%)	18mo	$67,500	$34	61
852 Beaver Pond	0.50mi	4/3.0 (+1)	2,082 (-8%)	9mo	$1,300,000	$624	48
1005 Martis Lndg	0.60mi	4/2.0 (+1)	2,052 (-10%)	3mo	$1,570,000	$765	43
419 Lodgepole	0.70mi	3/4.0	2,548 (+12%)	6mo	$1,995,000	$783	40
1003 Martis Lndg	0.59mi	4/3.0 (+1)	2,032 (-11%)	15mo	$1,795,000	$883	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 6.59% rent growth · sell at horizon

5-year hold

• IRR: 11.8%
• Equity multiple: 1.50×
• Total profit: $31,375
• Equity at exit: $33,548

10-year hold

• IRR: 24.6%
• Equity multiple: 3.69×
• Total profit: $169,458
• Equity at exit: $19,454

Cash invested: $63,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 96161

• Rents YoY: 6.6%
• Active inventory: 381
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $4,486 medium
• Mortgage (P&I): −$1,180
• Tax est. 1.5%: −$281 /mo · $3,375/yr
• Insurance: −$94
• HOA: −$1,200
• Vacancy / Maint / Mgmt: −$942
• Net cashflow: $789

Break-even live

Break-even rent $3,487

Max offer price $225,000

Occupancy floor 77%

Sensitivity live

Price	-10% $944	-5% $867	+0% $789	+5% $711	+10% $633
Rent	-10% $434	-5% $612	+0% $789	+5% $966	+10% $1,143
Rate	-1.0pp $902	-0.5pp $846	base $789	+0.5pp $731	+1.0pp $671

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $1,200 · $14,400/yr
• Likely covers: poolgym

Listing history 11 events

1. 2026-06-10
   days on market $225,000 Active 360 DOM
2. 2026-06-09
   days on market $225,000 Active 359 DOM
3. 2026-06-08
   days on market $225,000 Active 358 DOM
4. 2026-06-07
   days on market $225,000 Active 357 DOM
5. 2026-06-05
   days on market $225,000 Active 354 DOM
6. 2026-06-03
   days on market $225,000 Active 353 DOM
7. 2026-06-02
   days on market $225,000 Active 352 DOM
8. 2026-06-01
   days on market $225,000 Active 351 DOM
9. 2026-05-31
   days on market $225,000 Active 350 DOM
10. 2026-05-30
    days on market $225,000 Active 349 DOM
11. 2025-06-15
    listed $225,000 Active 2059-char remark

    Show marketing remark (2059 chars)

    Celebrate the Super Bowl from your Northstar penthouse retreat. Here’s your chance to own a 1/8th deeded share of a top-floor penthouse in the coveted Catamount Lodge, located in the heart of the Village at Northstar directly across from the Gondola. With your primary week locked in annually for the 2nd week of February—Super Bowl week— February 6 to February 13 where you can make this your ultimate winter tradition. Imagine kicking off the big game weekend with a powder day on the slopes and wrapping it up fireside in your own private alpine getaway. This share includes: Primary Week: Super Bowl Week (2nd week of February, Friday to Friday) 4 additional planned weeks per year. Planned with selection starts in October Planned weeks for 2026 are: Mar 27 - Apr 3 Jul 17-24 Aug 14-21 Oct 2-9 Unlimited 3–7 day stays booked within 30 days Unlimited 1–7 day short-notice stays booked within 7 days Friday-to-Friday check-in/out. Schedule runs with calendar year. Unlike many other fractional opportunities, this share is short-term rental eligible, and the Village at Northstar is exempt from local STR restrictions—offering both lifestyle and income flexibility. The residence itself—Catamount Lodge #414—is a 2,272 sq ft penthouse that spans two levels and features: 3 bedrooms, 3.5 bathrooms, including two primary suites A wraparound covered deck with 380 sq ft of outdoor space Vaulted ceilings, a dramatic great room with a stone fireplace Lofted office space, gourmet kitchen, and private balcony Newly upgraded with designer furnishings, flooring, paint, and artwork Ownership includes full access to resort-style amenities: slope-side convenience, outdoor hot tubs, heated pool, and fitness center, plus Tahoe Mountain Club membership while in residence, with ski valet, exclusive dining, and the Alpine Club at Northstar. Whether you're chasing powder, soaking in après-ski vibes, or hosting friends for the Super Bowl, this is fractional ownership at its most flexible and fun.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $53,830
• − Mortgage interest: −$12,603
• − Property taxes: −$3,375
• − Insurance: −$1,125
• − Repairs & maintenance: −$4,306
• − Management: −$4,306
• − HOA: −$14,400
• − Depreciation: −$6,545
• Taxable income: $7,168
• Est. tax owed @ 24.0%: −$1,720
• After-tax cash flow: $7,746/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This Northstar penthouse is in excellent condition with modern amenities and a prime location. It's move-in ready and would benefit from minor updates to enhance its curb appeal and interior aesthetics.

Value-add opportunities

• Both landscaping — enhances curb appeal and adds value
• Both painting — refreshes interior and exterior
• Both window treatments — improves energy efficiency and aesthetics

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — enhances curb appeal and adds value ↑
• Both painting — refreshes interior and exterior ↑
• Both window treatments — improves energy efficiency and aesthetics ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Tahoe-Truckee Unified
• NCES district ID: 0638770
• Math proficiency: 44% ▼ -9.00%
• Reading proficiency: 56% ▼ -4.00%
• Median HH income: $67,136
• Composite: 44.38/100
• National rank: #2816
• State rank: #136 of 517 in CA

Livability — Tahoe Vista

• Score: 52/100
• State rank: #1011
• US rank: #24918

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment A+ Housing C Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Nevada County · 85,339 people
• City population: 19,634
• Metro: Truckee-Grass Valley, CA
• Population (ZIP): 19,634
• Household income: $131,702
• Rent vs Own: 24.1% rent · 75.9% own
• Severe rent burden: 559.0

Population outlook (Placer County) Hauer SSP2

• Today (2025): 422,709 people
• By 2030: 444,249 · +5.1%
• By 2040: 480,192 · +13.6%
• By 2050: 506,390 · +19.8%
• By 2075: 550,219 · +30.2%
• By 2100: 547,760 · +29.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 12% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 5% Lithuanian 4% Portuguese 3%
• Foreign-born: 10% · Canada, Jamaica, Dominican Republic
• Languages at home: 85% English-only · Spanish 10% French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Placer

• 2024 margin: Lean R (+8.5) · D 44.3% · R 52.8% · Other 2.9%
• 2008→2024 swing: +2.8pp toward D · 2008: -11.3pp · 2024: -8.5pp
• All cycles: 2024: R+8.5 2020: R+6.7 2016: R+11.3 2012: R+20.1 2008: R+11.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -307.87%
• Current HPI: 336.9632
• Rent YoY: ▲ 6.59%
• Metro: Truckee-Grass Valley, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

1 event — show timeline

• 2025-06-15 Listed $225,000 TSMLS