33 Primrose Ave · North Auburn, CA 95603

$108,000

2 bd · 2.0 ba · 1,200 sqft · Manufactured · 8 Days on market

Built 1996 Good condition Est $120k · 10% 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 +12.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.9/10.0
• Condition / age +3.8/5.0
• Rent growth +3.1/5.0
• Livability +3.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Edgewood Mobile Home Park is a well maintained park that has recently become an All-Age Community! Welcome to a home with charm and character. The entry to this home offers a delightfully raised deck allowing for outside entertaining or just quietly taking in the nicely landscaped front yard. You enter the home into an open-beamed, vaulted ceiling great room. The bedrooms are nicely located at opposite ends of the home providing privacy. Just over a year ago, the home was painted both inside and out and new vinyl plank flooring added. Approximately three years ago a new HVAC system was installed and kitchen appliances were upgraded. The stack washer/dryer and refrigerator transfer with sale

Key facts

• Raised deck
• New hvac system
• Parking

Tags

• RAISED DECK
• OPEN-BEAMED VAULTED CEILING
• NEW HVAC SYSTEM
• UPGRADED KITCHEN APPLIANCES
• NICE SHED FOR STORAGE
• COMMUNITY GATHERING ROOM

Property features AI

Finance

• Other: Land lease: No (listed land lease amount present in source but excluded per instructions)
• HOA & community: No homeowners association; Not a senior community

Exterior

• Parking: Covered parking, no garage
• Utilities: Cable available; Internet available; Master electric meter; 220V in kitchen; 220V in laundry; Public water; Public sewer
• Home design: Manufactured home in park (double wide); Built in 1996
• Construction: Composition roof; Wood skirting; Karsten manufactured home
• Exterior features: Front yard with landscaping; Covered deck

Interior

• Kitchen: Free standing gas range; Free standing refrigerator; Dishwasher; Microwave; Breakfast area
• Bedrooms: 2 bedrooms
• Flooring: Carpet
• Bathrooms: 2 full bathrooms; Tub with shower over
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Cathedral/vaulted great room; Covered deck; Pantry cabinet; Laminate kitchen counters; Dining bar / dining-living combo; Furnished negotiable; Pets allowed
• Laundry & utility: Stacked washer/dryer included inside the home

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $108k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $874 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $108k).
• Cap rate 16.0% 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; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $747 of loan paydown is wiped out by about $3k 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 $30k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major flood risk; 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 $108,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.90% ✓
• Cap rate: 16.01%
• Cash-on-cash: 34.69%
• DSCR: 2.54
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $120,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
110 Marigold Ave #110	0.13mi	3/— (+1)	1,190 (-1%)	6mo	$140,000	$118	82
99 Marigold Ave #99	0.11mi	2/2.0	1,052 (-12%)	0mo	$125,000	$119	74
1605 Grass Valley Hwy #84	0.35mi	2/2.0	1,246 (+4%)	14mo	$125,000	$100	66
1514 Cottonwood Cir #8	0.52mi	2/2.0	1,152 (-4%)	5mo	$99,000	$86	65
1605 Grass Valley Hwy #46	0.33mi	2/2.0	1,344 (+12%)	2mo	$47,000	$35	63
12202 Hemlock Dr	0.59mi	2/2.0	1,152 (-4%)	6mo	$120,000	$104	61
12366 Pepperwood Cir #182	0.66mi	2/2.0	1,248 (+4%)	3mo	$110,000	$88	60
12207 Hemlock Dr #99	0.62mi	2/2.0	1,248 (+4%)	10mo	$120,000	$96	56
1608 Spruce Ct	0.62mi	2/2.0	1,152 (-4%)	10mo	$125,000	$109	56
12339 Pepperwood #12339	0.70mi	2/2.0	1,344 (+12%)	2mo	$112,000	$83	45
1524 Tulip Cir #66	0.59mi	2/2.0	1,344 (+12%)	10mo	$150,000	$112	44
12019 Hemlock Dr #150	0.56mi	3/2.0 (+1)	1,344 (+12%)	9mo	$121,000	$90	41

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: 29.4%
• Equity multiple: 2.22×
• Total profit: $36,862
• Equity at exit: $16,103

10-year hold

• IRR: 36.4%
• Equity multiple: 4.26×
• Total profit: $98,447
• Equity at exit: $9,338

Cash invested: $30,240 (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: 4.4×

Monthly cashflow live

• Estimated rent: $2,051 high
• Mortgage (P&I): −$566
• Tax est. 1.5%: −$135 /mo · $1,620/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$431
• Net cashflow: $874

Break-even live

Break-even rent $945

Max offer price $108,000

Occupancy floor 52%

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: $27,000
• Closing costs: $3,240
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
731 Mikkelsen Dr Auburn, CA	2.0	2.0	1006	$2,150	$2.14	1d	1	1.03mi
327 Nevada St Apt 4 Auburn, CA	1.0	1.0	800	$1,350	$1.69	1d	1	1.09mi
11754 Jones St Unit 11754 Auburn, CA	1.0	1.0	700	$1,595	$2.28	3d	1	1.16mi
11752 Jones St Unit 11752 Auburn, CA	2.0	1.0	815	$1,795	$2.20	10d	1	1.16mi
630 Shockley Rd Auburn, CA	3.0	2.0	1100	$2,495	$2.27	1d	1	1.20mi
560 Landis Cir Auburn, CA	2.0	1.0	1188	$2,550	$2.15	1d	1	1.23mi
203 E Electric St Auburn, CA	2.0	1.0	1100	$1,625	$1.48	1d	1	1.30mi
356 Chamberlain Ave Unit A Auburn, CA	2.0	1.0	700	$2,100	$3.00	16d	1	1.45mi

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 72% 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: $24,618
• − Mortgage interest: −$6,050
• − Property taxes: −$1,620
• − Insurance: −$540
• − Repairs & maintenance: −$1,969
• − Management: −$1,969
• − Depreciation: −$3,142
• Taxable income: $9,327
• Est. tax owed @ 24.0%: −$2,239
• After-tax cash flow: $8,253/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 75/100 Cosmetic rehab

This mobile home is in good condition with recent updates, including new flooring and appliances. It has a well-maintained exterior and landscaping, making it a good candidate for a cosmetic rehab to enhance its resale and rental value.

Value-add opportunities

• Resale Painting the exterior — Enhances curb appeal and value
• Resale Landscaping improvements — Enhances curb appeal and value
• Both Kitchen backsplash — Improves aesthetics and functionality
• Both New lighting fixtures — Enhances curb appeal and functionality

Renovation cost estimate screening

Value-add ROI direction

• Resale Painting the exterior — Enhances curb appeal and value ↑
• Resale Landscaping improvements — Enhances curb appeal and value ↑
• Both Kitchen backsplash — Improves aesthetics and functionality ↑
• Both New lighting fixtures — Enhances curb appeal and functionality ↑

ⓘ 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: 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