28 Larkspur Ave · North Auburn, CA 95603

$95,000

2 bd · 2.0 ba · 1,100 sqft · Manufactured · 33 Days on market

Built 1966 Good condition Est $114k · 17% under

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Why this score? — see what drove the A- 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.9/10.0
• Condition / age +4.0/5.0
• Rent growth +3.1/5.0
• Livability +3.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Comfortable, easy living in an all-age community! Situated on a corner lot with sunny, local views, this clean and well-maintained home offers approximately 1,100 sq. ft. of open and inviting living space with a spacious floor plan designed for everyday comfort and a seamless indoor/outdoor flow. Features include central heating and air conditioning, optional rooftop cooling, a newer double oven, gas stove, and abundant storage throughout. The spacious kitchen, dining, living room combo is the perfect gathering spot for entertaining and sizable enough for a crowd. Enjoy cool mornings and shaded evenings on the large covered patio - a great spot for enjoying nature, bird watching or spending

Key facts

• Central heating
• Air conditioning
• Spacious floor plan

Tags

• CORNER LOT
• OPEN LIVING SPACE
• SPACIOUS FLOOR PLAN
• INDOOR OUTDOOR FLOW
• CENTRAL HEATING
• AIR CONDITIONING

Property features AI

Finance

• Other: Located in Auburn, CA 95603 at 28 Larkspur Ave (inside Edgewood Mobile Village); Directions: From Hwy 49, take Edgewood Road to Edgewood Mobile Village. Inside the park take first left onto Larkspur Ave and continue to the end; home is on the left corner of Larkspur.
• Financial info: Land lease not required (listed as No); noted land lease amount entry present
• HOA & community: No homeowners association

Exterior

• Parking: Assigned covered parking
• Utilities: Cable and internet available; Natural gas connected; Generator for electric; Public sewer; Public water via water district
• Home design: Manufactured home in a park (double wide); Built in 1966
• Construction: Metal roof; Vinyl skirting; Crusader make (manufactured home)
• Exterior features: Corner lot; Shed(s) on the property

Interior

• Kitchen: Built-in electric oven; Gas cooktop; Hood over range; Free-standing refrigerator; Dishwasher; Microwave; Garbage disposal; Pantry cabinet and island
• Bedrooms: Two bedrooms
• Flooring: Vinyl flooring
• Bathrooms: Two full bathrooms; Bathrooms include tub with shower over and separate shower stall(s)
• Heating & cooling: Central heating (natural gas); Central air conditioning; Evaporative cooler; Ceiling fans
• Interior features: Carpeted porch steps with a covered, railed deck; Dual-pane partial windows; Great room with attached deck; Pantry cabinet and kitchen island; Synthetic kitchen counters; Dining bar and dining/living combo; formal dining area; Pets allowed
• Laundry & utility: Inside laundry room with washer and dryer included; Dryer is electric

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $95k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $945 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $92k (3.0% below list) — sets the bar for market timing.
• Cap rate 18.2% 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); 205 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 3d 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 $657 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 $27k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.

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 $92,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 2.13% ✓
• Cap rate: 18.23%
• Cash-on-cash: 42.62%
• DSCR: 2.90
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $114,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
99 Marigold Ave #99	0.12mi	2/2.0	1,052 (-4%)	0mo	$125,000	$119	87
85 Primrose Ave	0.06mi	2/2.0	1,100 (0%)	14mo	$155,000	$141	85
108 Marigold	0.11mi	2/2.0	1,000 (-9%)	10mo	$120,000	$120	72
110 Marigold Ave #110	0.11mi	3/— (+1)	1,190 (+8%)	6mo	$140,000	$118	71
107 Marigold Ave	0.13mi	2/2.0	1,200 (+9%)	15mo	$92,000	$77	66
1514 Cottonwood Cir #8	0.53mi	2/2.0	1,152 (+5%)	5mo	$99,000	$86	63
12202 Hemlock Dr	0.59mi	2/2.0	1,152 (+5%)	6mo	$120,000	$104	60
1608 Spruce Ct	0.60mi	2/2.0	1,152 (+5%)	10mo	$125,000	$109	56
1605 Grass Valley Hwy #84	0.27mi	2/2.0	1,246 (+13%)	14mo	$125,000	$100	54
12366 Pepperwood Cir #182	0.65mi	2/2.0	1,248 (+14%)	3mo	$110,000	$88	45
12207 Hemlock Dr #99	0.62mi	2/2.0	1,248 (+14%)	10mo	$120,000	$96	41
1604 Spruce Ct #95	0.60mi	2/2.0	1,248 (+14%)	16mo	$109,000	$87	37

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: 38.6%
• Equity multiple: 2.63×
• Total profit: $43,471
• Equity at exit: $14,165

10-year hold

• IRR: 44.8%
• Equity multiple: 5.14×
• Total profit: $110,045
• Equity at exit: $8,214

Cash invested: $26,600 (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: 205
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $2,027 high
• Mortgage (P&I): −$498
• Tax est. 1.5%: −$119 /mo · $1,425/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$426
• Net cashflow: $945

Break-even live

Break-even rent $831

Max offer price $95,000

Occupancy floor 48%

Sensitivity live

Price	-10% $1,010	-5% $978	+0% $945	+5% $912	+10% $879
Rent	-10% $785	-5% $865	+0% $945	+5% $1,025	+10% $1,105
Rate	-1.0pp $993	-0.5pp $969	base $945	+0.5pp $920	+1.0pp $895

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 7 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	4d	1	1.05mi
11752 Jones St Unit 11752 Auburn, CA	2.0	1.0	815	$1,795	$2.20	11d	1	1.05mi
731 Mikkelsen Dr Auburn, CA	2.0	2.0	1006	$2,150	$2.14	2d	1	1.16mi
327 Nevada St Apt 4 Auburn, CA	1.0	1.0	800	$1,350	$1.69	2d	1	1.18mi
630 Shockley Rd Auburn, CA	3.0	2.0	1100	$2,495	$2.27	2d	1	1.29mi
560 Landis Cir Auburn, CA	2.0	1.0	1188	$2,550	$2.15	2d	1	1.36mi
203 E Electric St Auburn, CA	2.0	1.0	1100	$1,625	$1.48	2d	1	1.43mi

Listing history 14 events

1. 2026-06-21
   days on market $95,000 Active 33 DOM
2. 2026-06-18
   days on market $95,000 Active 30 DOM
3. 2026-06-17
   days on market $95,000 Active 29 DOM
4. 2026-06-16
   days on market $95,000 Active 28 DOM
5. 2026-06-15
   days on market $95,000 Active 27 DOM
6. 2026-06-13
   days on market $95,000 Active 25 DOM
7. 2026-06-13
   days on market $95,000 Active 24 DOM
8. 2026-06-09
   days on market $95,000 Active 21 DOM
9. 2026-06-08
   days on market $95,000 Active 20 DOM
10. 2026-06-07
    days on market $95,000 Active 19 DOM
11. 2026-06-03
    days on market $95,000 Active 15 DOM
12. 2026-06-02
    days on market $95,000 Active 14 DOM
13. 2026-06-01
    days on market $95,000 Active 13 DOM
14. 2026-05-31
    days on market $95,000 Active 12 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 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: $24,323
• − Mortgage interest: −$5,321
• − Property taxes: −$1,425
• − Insurance: −$475
• − Repairs & maintenance: −$1,946
• − Management: −$1,946
• − Depreciation: −$2,764
• Taxable income: $10,446
• Est. tax owed @ 24.0%: −$2,507
• After-tax cash flow: $8,830/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 · 30 photos

Good 80/100 Cosmetic rehab

This manufactured home is in good condition with a clean and well-maintained interior and exterior. It is ready for a fresh coat of paint to enhance its curb appeal and value.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Clean gutters — Improves drainage and aesthetics

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Clean gutters — Improves drainage 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: 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