2540 Grass Valley Hwy #18 · North Auburn, CA 95603

$130,000

2 bd · 2.0 ba · 960 sqft · Manufactured · 5 Days on market

Built 2018 Est $110k · 18% 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 +8.9/10.0
• 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

Bright, modern, move in ready home with functional layout, natural light, and comfort in a welcoming senior community setting. Located in Golden Chain Mobile Home Park, a 55+ community in Auburn, this well-maintained 2018 manufactured home features a great floor plan designed for easy living. The functional kitchen opens seamlessly to the living room and dining area, creating a bright, connected space perfect for everyday comfort. Enjoy a small side yard with grass, offering a outdoor area without the upkeep of a large yard. Ideally situated near the canal and just minutes from the hospital, dining, and grocery shopping, this home combines convenience, care, and low-maintenance living.

Key facts

• Functional kitchen
• Small side yard
• Near the canal

Tags

• GOLDEN CHAIN MOBILE HOME PARK
• FUNCTIONAL KITCHEN
• SMALL SIDE YARD
• NEAR THE CANAL

Property features AI

Finance

• Financial info: Land lease amount: $825
• HOA & community: No homeowners association; Located in a senior community; Land lease: no (land lease amount listed separately)

Exterior

• Parking: Attached covered parking; Guest parking available
• Utilities: Individual electric meter; Individual gas meter; Natural gas connected; Public water; Public sewer
• Home design: Manufactured home in a park; Double wide; Built in 2018
• Construction: Fleetwood make; Wood skirting
• Exterior features: Composition roof; Porch; Covered patio; Porch steps; Lot details: see remarks

Interior

• Kitchen: Free standing gas range; Free standing refrigerator; Dishwasher; Microwave; Range hood; Disposal; Pantry
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms; One bathroom with tub and shower over; Shower stall(s)
• Heating & cooling: Central heating (natural gas); Central air conditioning; Ceiling fans
• Interior features: Open great room living area; Pantry cabinet; Dining and living area combined; Covered porch and covered patio with porch steps; Pets allowed (with limit)
• Laundry & utility: Washer and dryer included; Laundry located inside the home; 220V outlet in laundry area

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $130k.

Deal economics

• At list price, monthly cash flow is $526 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Cap rate 11.2% 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: 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; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 10d 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 $899 of loan paydown is wiped out by about $4k 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 $36k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $130,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.39% ✓
• Cap rate: 11.15%
• Cash-on-cash: 17.36%
• DSCR: 1.77
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $110,400
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2540 Grass Valley Hwy #18	0.00mi	2/2.0	960 (0%)	1mo	$131,000	$136	99
2540 Grass Valley Hwy #112	0.00mi	2/2.0	840 (-12%)	6mo	$80,000	$95	75
2540 Grass Valley Hwy #12	0.30mi	2/2.0	1,026 (+7%)	3mo	$115,000	$112	72
2540 Grass Valley Hwy #27	0.30mi	2/2.0	1,040 (+8%)	2mo	$92,000	$88	70
2540 Grass Valley Hwy #51	0.00mi	2/1.0	840 (-12%)	13mo	$72,000	$86	64
2540 Grass Valley Hwy #75	0.30mi	2/2.0	1,060 (+10%)	7mo	$157,000	$148	63
2540 Grass Valley Hwy #133	0.30mi	2/2.0	840 (-12%)	6mo	$97,000	$115	60
2540 Grass Valley Hwy #17	0.30mi	2/2.0	1,000 (+4%)	24mo	$165,000	$165	59

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: 8.0%
• Equity multiple: 1.31×
• Total profit: $11,301
• Equity at exit: $19,383

10-year hold

• IRR: 16.7%
• Equity multiple: 2.33×
• Total profit: $48,308
• Equity at exit: $11,240

Cash invested: $36,400 (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: $1,804 high
• Mortgage (P&I): −$682
• Tax est. 1.5%: −$162 /mo · $1,950/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$379
• Net cashflow: $526

Break-even live

Break-even rent $1,137

Max offer price $130,000

Occupancy floor 66%

Sensitivity live

Price	-10% $616	-5% $571	+0% $526	+5% $482	+10% $437
Rent	-10% $384	-5% $455	+0% $526	+5% $598	+10% $669
Rate	-1.0pp $592	-0.5pp $560	base $526	+0.5pp $493	+1.0pp $458

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 10 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	5d	1	0.21mi
11752 Jones St Unit 11752 Auburn, CA	2.0	1.0	815	$1,795	$2.20	12d	1	0.21mi
11700 Garnet Way #4 Auburn, CA	2.0	1.0	840	$1,695	$2.02	19d	1	0.64mi
11550 Garnet Way #2 Auburn, CA	2.0	1.5	966	$1,725	$1.79	9d	1	0.74mi
3585 Sapphire Dr #4 Auburn, CA	2.0	1.0	900	$1,375	$1.53	0d	1	0.75mi
3633 Park Dr #2 Auburn, CA	2.0	1.0	922	$1,699	$1.84	0d	1	0.79mi
3713 Park Dr #4 Auburn, CA	1.0	1.0	900	$1,675	$1.86	14d	1	0.88mi
3681 Galena Dr #2 Auburn, CA	2.0	1.5	991	$1,800	$1.82	9d	1	0.92mi
3711 Galena Dr #3 Auburn, CA	2.0	1.5	991	$1,850	$1.87	3d	1	0.94mi
11325 Quartz Dr Auburn, CA	1.0–2.0	1.0	775	$2,069	$2.67	0d	8	0.96mi

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 · 15 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: $21,643
• − Mortgage interest: −$7,282
• − Property taxes: −$1,950
• − Insurance: −$650
• − Repairs & maintenance: −$1,731
• − Management: −$1,731
• − Depreciation: −$3,782
• Taxable income: $4,516
• Est. tax owed @ 24.0%: −$1,084
• After-tax cash flow: $5,233/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