1605 Grass Valley Hwy #99 · North Auburn, CA 95603

$70,000

2 bd · 1.0 ba · 672 sqft · Manufactured · 80 Days on market

Built 1985 Est $77k · 9% under

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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 +30.0/30.0
• ARV discount +11.7/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.9/10.0
• Rent growth +3.1/5.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This well-maintained 1985 with brand new roof. It is a wood-sided home offers a story of practical comfort, featuring two bedrooms, a kitchen with appliances updated within the last five years, and the convenience of an indoor laundry area. Whether it's a warm summer afternoon or a cool evening, the central heating and air conditioning, dual pane windows coupled with window awnings and ceiling fans ensure you are always comfortable when at home. Outside, the property provides a large covered carport and generous storage solutions, including two sheds and another clever storage area beneath the sidesteps. Located in a 55+ community known for having some of the most competitive space rents in

Key facts

• Indoor laundry area
• Low-level entry
• Two sheds

Tags

• INDOOR LAUNDRY AREA
• LARGE COVERED CARPORT
• GENEROUS STORAGE SOLUTIONS
• TWO SHEDS
• LOW-LEVEL ENTRY

Property features AI

Finance

• Other: Property located at 1605 Grass Valley Hwy #99, Auburn, CA 95603; cross street Luther; directions: Grass Valley Hwy, turn into the street entrance at Taco Bell, across from Luther.
• Financial info: Land lease: No (listed land lease amount present in source but excluded by instructions)
• HOA & community: No homeowners association; Senior community

Exterior

• Parking: Attached covered parking
• Utilities: Individual electric meter; Individual gas meter; Natural gas connected; Public water; Public sewer
• Home design: Manufactured in park; Single wide; Built in 1985
• Construction: Wood skirting; Fleetwood manufactured unit; Elastomeric and foam roof
• Exterior features: Storage area; Storage shed(s); Close to clubhouse

Interior

• Kitchen: Hood over range; Dishwasher; Laminate counters; Dining bar
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Wood
• Bathrooms: 1 full bathroom with shower stall
• Heating & cooling: Central heating; Fireplace(s); Central cooling; Ceiling fan(s)
• Interior features: Cathedral ceiling; Dual-pane full windows
• Laundry & utility: Laundry closet; 220 volt outlet in laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $70k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $66k (6.0% below list) — sets the bar for market timing.
• Cap rate 24.3% vs local median 2.6% in North Auburn — 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 61/100 on livability (#519 in CA) — a middle-class / working-renter tenant base. Strengths: employment A-, housing A-; Watch: schools F, crime D-, amenities F.
• Placer Union High (suburban): math 39% / reading 72% proficiency, ranked #98 of 517 in CA (top 19%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+2.3%/yr); 204 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 3,535 units permitted in Placer County in 2024 (689 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k 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 + 2.3% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($66k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 6→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $65,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 2.77% ✓
• Cap rate: 24.26%
• Cash-on-cash: 64.17%
• DSCR: 3.86
• GRM: 3.0

CMA / ARV

• ARV (on-the-fly): $77,280
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1605 Grass Valley Hwy #99	0.00mi	2/1.0	672 (0%)	22mo	$77,000	$115	82
1638 Alder Cir #1638	0.34mi	2/1.0	684 (+2%)	1mo	$48,000	$70	80
12102 Hemlock Dr	0.30mi	2/1.0	720 (+7%)	3mo	$83,000	$115	72
31 Larkspur Ave	0.28mi	2/1.0	688 (+2%)	14mo	$75,000	$109	71

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 · 2.34% rent growth · sell at horizon

5-year hold

• IRR: 62.5%
• Equity multiple: 3.76×
• Total profit: $54,158
• Equity at exit: $10,437

10-year hold

• IRR: 66.8%
• Equity multiple: 7.53×
• Total profit: $128,051
• Equity at exit: $6,052

Cash invested: $19,600 (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 95603

• Rents YoY: 2.3%
• Active inventory: 204
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,939 medium
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$88 /mo · $1,050/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $1,048

Break-even live

Break-even rent $612

Max offer price $70,000

Occupancy floor 41%

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11754 Jones St Unit 11754 Auburn, CA	1.0	1.0	700	$1,595	$2.28	3d	1	0.81mi
750 Auburn Ravine Rd Auburn, CA	1.0	1.0	540	$1,901	$3.52	1d	4	1.23mi

Listing history 13 events

1. 2026-06-18
   days on market $70,000 Active 80 DOM
2. 2026-06-17
   days on market $70,000 Active 79 DOM
3. 2026-06-16
   days on market $70,000 Active 78 DOM
4. 2026-06-15
   days on market $70,000 Active 77 DOM
5. 2026-06-13
   days on market $70,000 Active 75 DOM
6. 2026-06-13
   pricedays on market $70,000 Active 74 DOM
7. 2026-06-09
   days on market $76,000 Active 71 DOM
8. 2026-06-08
   days on market $76,000 Active 70 DOM
9. 2026-06-07
   days on market $76,000 Active 69 DOM
10. 2026-06-03
    days on market $76,000 Active 65 DOM
11. 2026-06-02
    days on market $76,000 Active 64 DOM
12. 2026-06-01
    days on market $76,000 Active 63 DOM
13. 2026-05-31
    days on market $76,000 Active 62 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 10/10 Extreme
• 🌡 Heat 6/10 Major 6 d/yr ≥99°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 34 unhealthy d/yr today · 41 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,268
• − Mortgage interest: −$3,921
• − Property taxes: −$1,050
• − Insurance: −$350
• − Repairs & maintenance: −$1,861
• − Management: −$1,861
• − Depreciation: −$2,036
• Taxable income: $12,188
• Est. tax owed @ 24.0%: −$2,925
• After-tax cash flow: $9,652/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.

Schools (NCES district)

• District: Placer Union High
• NCES district ID: 0630750
• Math proficiency: 39% ▲ 1.00%
• Reading proficiency: 72% ▲ 3.00%
• Median HH income: $69,119
• Composite: 49.04/100
• National rank: #2060
• State rank: #98 of 517 in CA

Livability — North Auburn

• Score: 61/100
• State rank: #519
• US rank: #17512

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Auburn, CA
• County: Placer County · 390,510 people
• City population: 28,195
• Metro: Sacramento-Roseville-Folsom, CA
• Population (ZIP): 28,432
• Household income: $85,357
• Rent vs Own: 30.4% rent · 69.6% own
• Severe rent burden: 1017.0

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 (73%)
• Race & ethnicity: White 73% Hispanic / Latino 17% Two or more races 11% Asian 3%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Italian 3% Slovak 3% Lithuanian 2%
• Foreign-born: 9% · Canada, South Korea
• Languages at home: 88% English-only · Spanish 10% Other Indo-European 1% Tagalog/Filipino 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: ▼ -500.89%
• Current HPI: 251.4573
• Rent YoY: ▲ 2.34%
• Metro: Sacramento-Roseville-Folsom, 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