1605 Grass Valley Hwy #62 · North Auburn, CA 95603

$79,000

2 bd · 2.0 ba · 1,440 sqft · Manufactured · 107 Days on market

Built 1973 Est $120k · 34% 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 +15.0/15.0
• 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

Motivated Seller. Bring an offer!!! This 2 bedroom 2 bath in Auburn Hills Estates Mobile Home Park. This Mobile Home needs some work and is just waiting for a new owner to add their personal touches. As you enter, you will love the extra large living room that adjoins a dining room area. The Kitchen cabinets have been painted and new flooring installed in the last 5 years. Family room/office space is next to the kitchen and also has same flooring. Master bedroom offers dual sinks, a vanity table and two closets; one being a walk in. There is an extra long carport and larger garden in back yard. This is one of the largest lots in Auburn Hills. Seller has moved out of state but lived in this

Key facts

• Dual sinks
• Dining room area
• New flooring

Tags

• XTRA LARGE LIVING ROOM
• DINING ROOM AREA
• PAINTED KITCHEN CABINETS
• NEW FLOORING
• FAMILY ROOM OFFICE SPACE
• DUAL SINKS

Property features AI

Finance

• Other: Land lease amount listed as $828
• Financial info: Land lease: No
• HOA & community: No homeowners association

Exterior

• Parking: Covered parking
• Utilities: Other utilities; Other electric; Other sewer; Other water source; No solar power production
• Home design: Manufactured in-park home; Double wide; Built in 1973; Located in a senior community; Street address: 1605 Grass Valley Hwy #62, Auburn, CA 95603
• Construction: Fleetwood make; Skirting: Other
• Exterior features: Other roof; Other lot features

Interior

• Kitchen: No specified kitchen features
• Bedrooms: 2 bedrooms
• Flooring: Other flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Other heating; Other cooling
• Interior features: Living room with unspecified additional features; Dining area with unspecified additional features; Shower stall(s); Pets allowed with a limit
• Laundry & utility: Laundry features present (unspecified)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $79k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $79k).
• Recommended offer: $72k (9.0% below list) — sets the bar for market timing.
• Cap rate 25.1% 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: crime D-, amenities F, commute 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.
• Zoned schools: Ev Cain Middle (math 23% / reading 43%, grade F, #199 of 498 statewide, top 40%, 524 students, 45% FRL); Placer High (math 30% / reading 62%, grade D-, #409 of 1,170 statewide, top 36%, 1,310 students, 30% FRL).
• Zoned-school proficiency averages 40% at this address vs 56% district-wide (-16 pts) — the specific schools serving this property underperform the Placer Union High average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+2.3%/yr); 205 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).
• This rent runs 32% of the median local income ($85k/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 $546 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 $22k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 107 days — a 9% lower offer ($72k) 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 $71,890 (9.0% below list)

Questions for the listing agent

1. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
7. 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.
8. 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.
9. 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: 2.86% ✓
• Cap rate: 25.08%
• Cash-on-cash: 67.09%
• DSCR: 3.99
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $119,520
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1605 Grass Valley Hwy #62	0.00mi	2/2.0	1,440 (0%)	1mo	$55,000	$38	99
1605 Grass Valley Hwy #46	0.01mi	2/2.0	1,344 (-7%)	2mo	$47,000	$35	87
1605 Grass Valley Hwy #73	0.00mi	3/2.0 (+1)	1,536 (+7%)	5mo	$110,000	$72	80
5 Lily Ave	0.24mi	3/2.0 (+1)	1,440 (0%)	9mo	$39,900	$28	76
12326 Pepperwood Cir #200	0.54mi	2/2.0	1,440 (0%)	1mo	$165,000	$115	74
12318 Pepperwood Cir #228	0.52mi	2/2.0	1,440 (0%)	3mo	$115,000	$80	73
12369 Pepperwood Cir	0.44mi	2/2.0	1,440 (0%)	8mo	$130,000	$90	73
1564 Cottonwood Cir	0.38mi	3/2.0 (+1)	1,440 (0%)	9mo	$95,000	$66	70
12339 Pepperwood #12339	0.47mi	2/2.0	1,344 (-7%)	2mo	$112,000	$83	65
12019 Hemlock Dr #150	0.29mi	3/2.0 (+1)	1,344 (-7%)	10mo	$121,000	$90	62
12180 Laurel Dr	0.35mi	3/2.0 (+1)	1,560 (+8%)	9mo	$129,000	$83	57
12366 Pepperwood Cir #182	0.43mi	2/2.0	1,248 (-13%)	3mo	$110,000	$88	56

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: 65.7%
• Equity multiple: 3.92×
• Total profit: $64,509
• Equity at exit: $11,779

10-year hold

• IRR: 69.8%
• Equity multiple: 7.86×
• Total profit: $151,707
• Equity at exit: $6,830

Cash invested: $22,120 (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: 2.9×

Monthly cashflow live

• Estimated rent: $2,257 medium
• Mortgage (P&I): −$414
• Tax est. 1.5%: −$99 /mo · $1,185/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$474
• Net cashflow: $1,237

Break-even live

Break-even rent $691

Max offer price $79,000

Occupancy floor 40%

Sensitivity live

Price	-10% $1,291	-5% $1,264	+0% $1,237	+5% $1,209	+10% $1,182
Rent	-10% $1,058	-5% $1,148	+0% $1,237	+5% $1,326	+10% $1,415
Rate	-1.0pp $1,276	-0.5pp $1,257	base $1,237	+0.5pp $1,216	+1.0pp $1,195

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
630 Shockley Rd Auburn, CA	3.0	2.0	1100	$2,495	$2.27	0d	1	1.25mi
731 Mikkelsen Dr Auburn, CA	2.0	2.0	1006	$2,150	$2.14	0d	1	1.37mi

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: $27,078
• − Mortgage interest: −$4,425
• − Property taxes: −$1,185
• − Insurance: −$395
• − Repairs & maintenance: −$2,166
• − Management: −$2,166
• − Depreciation: −$2,298
• Taxable income: $14,442
• Est. tax owed @ 24.0%: −$3,466
• After-tax cash flow: $11,374/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