11639 Snowpeak Way #505 · Truckee, CA 96161

$369,000

2 bd · 1.5 ba · 824 sqft · Condo · 41 Days on market

Built 1975 Good condition $448/sqft · 18% below area Est $452k · 18% under

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Why this score? — see what drove the C- 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).

• ARV discount +15.0/15.0
• Cash flow +12.1/30.0
• Schools +4.4/10.0
• 1% rule +4.2/10.0
• Rent growth +4.1/5.0
• Condition / age +3.8/5.0
• DSCR +3.6/10.0
• Livability +2.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fantastic opportunity to purchase a lovely mountain retreat in the heart of Tahoe Donner. This home exudes pride in ownership. Bathrooms remodeled - Flooring - Accent wall - Paint - Front door - you must see for yourself! Furnishings mostly included with some exclusions.

Key facts

• Hot tub
• Pool table
• Outside deck

Tags

• ENCLOSED MUDROOM
• OUTSIDE DECK
• PRIVATE ACCESS TO POOL
• CLUBHOUSE WITH PING PONG
• POOL TABLE
• HOT TUB

Property features AI

Finance

• HOA & community: Monthly association dues; Association amenities include beach access, pool, tennis courts, golf course, equestrian center, cross-country skiing, downhill skiing, exercise equipment, and boat ramp; No gated community

Exterior

• Parking: One covered space; Detached parking; One-car garage
• Utilities: Water served by utility district; Sewer served by utility district; Natural gas available; Cable connected
• Home design: Mountain-style architecture; Two levels; Used/previously occupied
• Construction: Composition roof; Concrete perimeter foundation
• Exterior features: Deck; Condo/PUD project; Rental history noted; Filtered, trees/woods and mountain views

Interior

• Kitchen: Range; Oven; Microwave; Dishwasher; Disposal; Refrigerator
• Flooring: Mixed flooring
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Electric heating
• Interior features: Mud room; Living room fireplace
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $369k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-78 ($-935/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $340k (7.8% below list).
• Recommended offer: $340k (7.8% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 2.0% 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.

Location & tenants

• 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: Truckee Elementary (math 33% / reading 45%, grade F, #656 of 1,571 statewide, top 42%, 451 students, 52% 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) — zoned schools at 34% FRL track the district average.
• Market conditions: Rents rising fast (+6.6%/yr); 381 active listings in the ZIP; high-income renter base; 215 units permitted in Nevada County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% of the median local income ($132k/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 $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Nevada County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($358k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y ago; this cycle's ask has dropped $30k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $310k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $340,395 (7.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
3. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.92% ✗
• Cap rate: 6.04%
• Cash-on-cash: -0.91%
• DSCR: 0.96
• GRM: 9.0

CMA / ARV

• ARV (median comp): $452,222
• List price: $369,000
• Delta: -11.77%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.59% rent growth · sell at horizon

5-year hold

• IRR: -13.5%
• Equity multiple: 0.50×
• Total profit: $-51,836
• Equity at exit: $55,019

10-year hold

• IRR: 0.6%
• Equity multiple: 1.05×
• Total profit: $5,502
• Equity at exit: $31,904

Cash invested: $103,320 (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 96161

• Rents YoY: 6.6%
• Active inventory: 381
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $3,404 medium
• Mortgage (P&I): −$1,935
• Tax est. 1.5%: −$461 /mo · $5,535/yr
• Insurance: −$154
• HOA est. from 3 same-building comps: −$217
• Vacancy / Maint / Mgmt: −$715
• Net cashflow: $-78

Break-even live

Break-even rent $3,503

Max offer price $357,720

Occupancy floor 97%

Sensitivity live

Price	-10% $177	-5% $50	+0% $-78	+5% $-205	+10% $-333
Rent	-10% $-347	-5% $-212	+0% $-78	+5% $57	+10% $191
Rate	-1.0pp $108	-0.5pp $16	base $-78	+0.5pp $-174	+1.0pp $-271

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: $92,250
• Closing costs: $11,070
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-21
   days on market $369,000 Active 41 DOM
2. 2026-06-18
   days on market $369,000 Active 38 DOM
3. 2026-06-17
   days on market $369,000 Active 37 DOM
4. 2026-06-16
   days on market $369,000 Active 36 DOM
5. 2026-06-15
   days on market $369,000 Active 35 DOM
6. 2026-06-14
   pricedays on market $369,000 Active 33 DOM
7. 2026-06-10
   days on market $399,000 Active 30 DOM
8. 2026-06-09
   days on market $399,000 Active 29 DOM
9. 2026-06-08
   days on market $399,000 Active 28 DOM
10. 2026-06-07
    days on market $399,000 Active 27 DOM
11. 2026-06-05
    days on market $399,000 Active 24 DOM
12. 2026-06-03
    days on market $399,000 Active 23 DOM
13. 2026-06-02
    days on market $399,000 Active 22 DOM
14. 2026-06-01
    days on market $399,000 Active 21 DOM
15. 2026-05-31
    days on market $399,000 Active 20 DOM
16. 2026-05-30
    days on market $399,000 Active 19 DOM
17. 2026-05-12
    listed $399,000 Active 2262-char remark
18. 2026-05-05
    price $399,000
19. 2026-04-20
    price $425,000
20. 2020-07-14
    soldstatus $310,000 Sold

    Show marketing remark (271 chars)

    Fantastic opportunity to purchase a lovely mountain retreat in the heart of Tahoe Donner. This home exudes pride in ownership. Bathrooms remodeled - Flooring - Accent wall - Paint - Front door - you must see for yourself! Furnishings mostly included with some exclusions.

21. 2020-06-16
    historical Contingent

    Show marketing remark (271 chars)

    Fantastic opportunity to purchase a lovely mountain retreat in the heart of Tahoe Donner. This home exudes pride in ownership. Bathrooms remodeled - Flooring - Accent wall - Paint - Front door - you must see for yourself! Furnishings mostly included with some exclusions.

22. 2020-06-12
    listed $295,000 Active

    Show marketing remark (271 chars)

    Fantastic opportunity to purchase a lovely mountain retreat in the heart of Tahoe Donner. This home exudes pride in ownership. Bathrooms remodeled - Flooring - Accent wall - Paint - Front door - you must see for yourself! Furnishings mostly included with some exclusions.

23. 2018-10-25
    soldstatus $223,000 Sold
24. 2015-08-27
    historical
25. 2015-07-30
    listed $228,000 Active
26. 2005-08-31
    soldstatus $330,000
27. 2005-08-02
    historical
28. 2005-05-02
    listed $340,000

ⓘ 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 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 1/10 Low 10 d/yr ≥85°F today · 26 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 19 unhealthy d/yr today · 24 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,847
• − Mortgage interest: −$20,670
• − Property taxes: −$5,535
• − Insurance: −$1,845
• − Repairs & maintenance: −$3,268
• − Management: −$3,268
• − HOA: −$2,604
• − Depreciation: −$10,735
• Taxable loss: −$7,076
• Est. tax savings @ 24.0%: +$1,698
• After-tax cash flow: $763/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 charming two-bedroom, one and a half-bathroom condominium is in good condition with minimal repairs needed. It offers a well-maintained interior and exterior, making it an attractive option for both buyers and renters.

Value-add opportunities

• Both Paint exterior siding — Fresh paint can enhance curb appeal and property value.
• Both Replace worn-out flooring — New flooring can improve the overall look and feel of the home.
• Both Update kitchen appliances — Modern appliances can attract more buyers and renters.
• Both Install smart home features — Smart home features can increase convenience and appeal to tech-savvy buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Fresh paint can enhance curb appeal and property value. ↑
• Both Replace worn-out flooring — New flooring can improve the overall look and feel of the home. ↑
• Both Update kitchen appliances — Modern appliances can attract more buyers and renters. ↑
• Both Install smart home features — Smart home features can increase convenience and appeal to tech-savvy buyers and renters. ↑

ⓘ 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: Tahoe-Truckee Unified
• NCES district ID: 0638770
• Math proficiency: 44% ▼ -9.00%
• Reading proficiency: 56% ▼ -4.00%
• Median HH income: $67,136
• Composite: 44.38/100
• National rank: #2816
• State rank: #136 of 517 in CA

Livability — Truckee

• Score: 58/100
• State rank: #697
• US rank: #21110

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Truckee, CA
• County: Nevada County · 85,339 people
• City population: 19,634
• Metro: Truckee-Grass Valley, CA
• Population (ZIP): 19,634
• Household income: $131,702
• Rent vs Own: 24.1% rent · 75.9% own
• Severe rent burden: 559.0

Population outlook (Nevada County) Hauer SSP2

• Today (2025): 98,490 people
• By 2030: 97,295 · -1.2%
• By 2040: 92,041 · -6.5%
• By 2050: 85,164 · -13.5%
• By 2075: 68,436 · -30.5%
• By 2100: 49,536 · -49.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 12% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 5% Lithuanian 4% Portuguese 3%
• Foreign-born: 10% · Canada, Jamaica, Dominican Republic
• Languages at home: 85% English-only · Spanish 10% French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Nevada

• 2024 margin: D (+12.2) · D 54.4% · R 42.1% · Other 3.5%
• 2008→2024 swing: +6.9pp toward D · 2008: 5.3pp · 2024: 12.2pp
• All cycles: 2024: D+12.2 2020: D+14.8 2016: D+4.5 2012: R+4.7 2008: D+5.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -307.87%
• Current HPI: 336.9632
• Rent YoY: ▲ 6.59%
• Metro: Truckee-Grass Valley, 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

Price history

+8.5% since first listed

13 events — show timeline

• 2026-06-13 Price Changed $369,000 TSMLS
• 2026-05-12 Listed $399,000 TSMLS
• 2026-05-05 Price Changed $399,000 TSMLS
• 2026-04-20 Price Changed $425,000 TSMLS
• 2020-07-14 Sold (MLS) $310,000 TSMLS
• 2020-06-16 Contingent — TSMLS
• 2020-06-12 Listed $295,000 TSMLS
• 2018-10-25 Sold (MLS) $223,000 TSMLS
• 2015-08-27 Delisted — TSMLS
• 2015-07-30 Listed $228,000 TSMLS
• 2005-08-31 Sold (MLS) $330,000 TSMLS
• 2005-08-02 Delisted — TSMLS
• 2005-05-02 Listed $340,000 TSMLS