12326 Pepperwood Cir #200 · North Auburn, CA 95603

$165,000

2 bd · 2.0 ba · 1,440 sqft · Manufactured · 32 Days on market

Built 1980 Est $120k · 38% over

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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).

• Cash flow +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• Schools +4.9/10.0
• Rent growth +3.1/5.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to peaceful living in this vibrant and friendly neighborhood at Woodside Village Senior Park. Located at the top of Pepperwood Circle, it allows for abundant outdoor living with a custom, babbling brook in front. Enjoy the updated, bright interior with new laminate flooring throughout, dual pane windows, new microwave, new dishwasher, new gas cooktop, new cordless blinds, newer roof and so much more. Planter boxes outside with a greenhouse and citrus trees make this a gardener's delight. This senior community has a pool, spa, activities and plenty of friendly people. You can't go wrong with this delightful home. Come and make it your own.

Key facts

• New dishwasher
• Dual pane windows
• New microwave

Tags

• CUSTOM BABBLING BROOK
• UPDATED BRIGHT INTERIOR
• NEW LAMINATE FLOORING
• DUAL PANE WINDOWS
• NEW MICROWAVE
• NEW DISHWASHER

Property features AI

Finance

• Other: Land lease amount listed but not applicable
• Financial info: No land lease
• HOA & community: No homeowners association; Senior community

Exterior

• Parking: Off-street parking; Attached covered parking; Guest parking available; No enclosed garage
• Utilities: Individual electric meter; Individual gas meter; Natural gas connected; Public water; Public sewer
• Home design: Manufactured home in park; Double-wide; Updated / remodeled; Built in 1980
• Construction: Vinyl skirting; Roof: Other; Manufacturer: Far West Homes Inc (FarWest)
• Exterior features: Fenced yard; Front yard landscaping and garden; Regular-shaped lot; Outbuilding / shed(s)

Interior

• Kitchen: Free-standing refrigerator; Built-in gas oven; Gas cooktop; Hood over range; Ice maker; Dishwasher; Disposal; Microwave; Breakfast area; Pantry cabinet; Synthetic countertops; Dining bar / dining-family combo
• Bedrooms: 2 bedrooms (includes master bedroom)
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms; Skylight/solar tube; Tub with shower over; Shower stall(s)
• Heating & cooling: Central heating; Central air conditioning; Ceiling fans
• Interior features: Formal entry; Dual-pane windows with coverings and screens; Covered deck with railings and porch steps; Storage area
• Laundry & utility: Laundry hookups inside a room; 220V outlet in laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $165k.

Deal economics

• At list price, monthly cash flow is $657 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $160k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.1% 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: 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; 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 $1k of loan paydown is wiped out by about $5k 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 $46k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $160,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.38% ✓
• Cap rate: 11.07%
• Cash-on-cash: 17.07%
• DSCR: 1.76
• GRM: 6.0

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
12326 Pepperwood Cir #200	0.00mi	2/2.0	1,440 (0%)	1mo	$165,000	$115	99
12318 Pepperwood Cir #228	0.05mi	2/2.0	1,440 (0%)	3mo	$115,000	$80	95
12369 Pepperwood Cir	0.11mi	2/2.0	1,440 (0%)	8mo	$130,000	$90	88
12339 Pepperwood #12339	0.09mi	2/2.0	1,344 (-7%)	2mo	$112,000	$83	83
1564 Cottonwood Cir	0.19mi	3/2.0 (+1)	1,440 (0%)	9mo	$95,000	$66	79
1605 Grass Valley Hwy #62	0.54mi	2/2.0	1,440 (0%)	1mo	$55,000	$38	74
12366 Pepperwood Cir #182	0.12mi	2/2.0	1,248 (-13%)	3mo	$110,000	$88	70
12019 Hemlock Dr #150	0.25mi	3/2.0 (+1)	1,344 (-7%)	9mo	$121,000	$90	64
12180 Laurel Dr	0.21mi	3/2.0 (+1)	1,560 (+8%)	9mo	$129,000	$83	64
1605 Grass Valley Hwy #46	0.54mi	2/2.0	1,344 (-7%)	2mo	$47,000	$35	62
5 Lily Ave	0.71mi	3/2.0 (+1)	1,440 (0%)	9mo	$39,900	$28	55
1605 Grass Valley Hwy #73	0.54mi	3/2.0 (+1)	1,536 (+7%)	5mo	$110,000	$72	55

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: 7.6%
• Equity multiple: 1.30×
• Total profit: $13,649
• Equity at exit: $24,602

10-year hold

• IRR: 16.3%
• Equity multiple: 2.30×
• Total profit: $59,839
• Equity at exit: $14,266

Cash invested: $46,200 (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: 6.0×

Monthly cashflow live

• Estimated rent: $2,275 medium
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,475/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$478
• Net cashflow: $657

Break-even live

Break-even rent $1,443

Max offer price $165,000

Occupancy floor 66%

Sensitivity live

Price	-10% $771	-5% $714	+0% $657	+5% $600	+10% $543
Rent	-10% $477	-5% $567	+0% $657	+5% $747	+10% $837
Rate	-1.0pp $740	-0.5pp $699	base $657	+0.5pp $614	+1.0pp $571

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: $41,250
• Closing costs: $4,950
• 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	3d	1	0.87mi
731 Mikkelsen Dr Auburn, CA	2.0	2.0	1006	$2,150	$2.14	3d	1	1.50mi

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 7 d/yr ≥99°F today · 16 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: $27,302
• − Mortgage interest: −$9,243
• − Property taxes: −$2,475
• − Insurance: −$825
• − Repairs & maintenance: −$2,184
• − Management: −$2,184
• − Depreciation: −$4,800
• Taxable income: $5,591
• Est. tax owed @ 24.0%: −$1,342
• After-tax cash flow: $6,544/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