12308 Frontier Trl Unit F26-24

Truckee, CA 96161

$24,000D+

3 bd · 3.5 ba · 2,895 sqft · Built — · SingleFamily · Active · 120 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,813/mo
• Mortgage (P&I): −$126
• Tax + insurance: −$40
• HOA: −$869
• Vac / Maint / Mgmt: −$1,011
• Net cashflow: $2,767/mo
• Annual: $33,206/yr
• Cap rate: 144.65%
• Cash-on-cash: 494.14%
• DSCR: 22.99
• 1% rule: 20.05%
• Cash to close: $6,720

Investor read

• This is a 3-bed/3.5-bath single-family listed at $24k.
• At list price, monthly cash flow is $3k ($33k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $24k).
• It's been on market 120 days — a 9% lower offer ($22k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $22k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $166 of loan paydown is wiped out by about $720 of value loss. Plan a longer hold.
• Location reads 58/100 on livability (#697 in CA) — a working-class tenant base; expect higher turnover. Strengths: employment A+, housing B; Watch: amenities F, commute F, cost of living 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.
• Zoned schools: Glenshire Elementary (math 62% / reading 70%, grade B+, #176 of 1,571 statewide, top 11%, 500 students, 12% FRL); Alder Creek Middle (math 41% / reading 54%, grade C-, #113 of 498 statewide, top 23%, 538 students, 26% FRL); Tahoe Truckee High (math 47% / reading 62%, grade C-, #256 of 1,170 statewide, top 24%, 890 students, 24% FRL).
• Market conditions: Rents rising fast (+6.6%/yr); 381 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 215 units permitted in Nevada County in 2024 (0 in 5+ unit buildings).
• Nevada County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 6.6% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.
• Cap rate 144.7% vs local median 2.1% in Truckee — 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.
• This rent runs 44% of the median local income ($132k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 120 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.
• 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.
• 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.