12468 Trappers Trl Unit F33-05 · Truckee, CA 96161

$14,000

3 bd · None ba · 2,470 sqft · SingleFamily · 117 Days on market

Good condition $6/sqft · 36% below area Est $22k · 36% under $769/mo HOA · 10% of rent

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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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.4/10.0
• Rent growth +4.1/5.0
• Condition / age +4.0/5.0
• Livability +2.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Enjoy this freshly renovated 3-bed Cabin w/ Murphy office room at Old Greenwood, 1/17 shared ownership, featuring premium winter week 5 every year. (Feb 5, - Feb 12th 2027) + floating time included. Preferred Access to two Championship golf courses accompany the Tahoe Mountain Club whenever you are in residence, including free shuttle service to Northstar resort and a private members lounge in the Village and private on-mountain restaurant creating a luxury 4-season club ownership experience. Guest can check in unaccompanied and use the amenities. Space Available is open for reservation by Flex, mid-week, and spontaneous reservations. Owner holds various additional reservations of 9/28-10/2, 2026 midweek and 8/28-9/4, 2026 for Flex week. See additional remarks for more info.

Key facts

• 2 garage spots
• Community pool
• Listed 117 days

What this means for you Summary

Snapshot

• This is a 3-bed/?-bath single-family listed at $14k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $5k ($61k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $14k).
• Recommended offer: $13k (9.0% below list) — sets the bar for market timing.
• Cap rate 438.5% 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.

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.
• Market conditions: Rents rising fast (+6.6%/yr); 381 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 215 units permitted in Nevada County in 2024 (0 in 5+ unit buildings).
• At $7,478/mo this rent would consume 68% of the median local household income ($132k/yr) (locally 559% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $97 of loan paydown is wiped out by about $420 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.
• At projected returns (-3.0% appreciation + 6.6% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 117 days — a 9% lower offer ($13k) is reasonable based on typical stale-listing flexibility.

Recommended offer $12,740 (9.0% below list)

Questions for the listing agent

1. It's been on market 117 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 53.42% ✓
• Cap rate: 438.46%
• Cash-on-cash: 1543.47%
• DSCR: 69.68
• GRM: 0.2

CMA / ARV

• ARV (median comp): $21,953
• List price: $14,000
• Delta: -36.23%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12448 Trappers Trl Unit F32-05	0.02mi	3/3.5	2,470 (0%)	0mo	$1,000	—	99
12448 Trappers Trl Unit F32-28	0.02mi	3/3.5	2,470 (0%)	1mo	$27,500	$11	99
12448 Trappers Trl Unit F32-24	0.02mi	3/3.5	2,470 (0%)	2mo	$12,500	$5	97
12463 Lookout Loop Unit F17-22	0.08mi	3/3.5	2,470 (0%)	0mo	$7,000	$3	96
12423 Lookout Loop Unit F15-30	0.07mi	3/3.5	2,470 (0%)	1mo	$21,000	$9	96
12381 Lookout Loop Unit F13-24	0.09mi	3/3.5	2,470 (0%)	3mo	$12,750	$5	94
12498 Lookout Loop Unit F38-26	0.10mi	3/3.5	2,470 (0%)	4mo	$23,000	$9	92
12283 Lookout Loop Unit F8-34	0.17mi	3/3.5	2,470 (0%)	2mo	$20,000	$8	90
12323 Lookout Loop Unit F10-24	0.13mi	3/3.5	2,470 (0%)	5mo	$13,500	$5	90
12328 Frontier Trl Unit F27-07	0.14mi	3/3.5	2,470 (0%)	7mo	$12,000	$5	88
12041 Highland Ave	0.64mi	3/2.5	2,266 (-8%)	0mo	$1,240,000	$547	56
12191 Highland Ave	0.65mi	4/3.0 (+1)	2,304 (-7%)	5mo	$1,170,000	$508	49

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 · 6.59% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 89.63×
• Total profit: $347,429
• Equity at exit: $2,087

10-year hold

• IRR: —
• Equity multiple: 215.81×
• Total profit: $842,064
• Equity at exit: $1,210

Cash invested: $3,920 (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: 0.2×

Monthly cashflow live

• Estimated rent: $7,478 medium
• Mortgage (P&I): −$73
• Tax est. 1.5%: −$18 /mo · $210/yr
• Insurance: −$6
• HOA: −$769
• Vacancy / Maint / Mgmt: −$1,570
• Net cashflow: $5,042

Break-even live

Break-even rent $1,096

Max offer price $14,000

Occupancy floor 28%

Sensitivity live

Price	-10% $5,052	-5% $5,047	+0% $5,042	+5% $5,037	+10% $5,032
Rent	-10% $4,451	-5% $4,747	+0% $5,042	+5% $5,337	+10% $5,633
Rate	-1.0pp $5,049	-0.5pp $5,046	base $5,042	+0.5pp $5,038	+1.0pp $5,035

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: $3,500
• Closing costs: $420
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10175 Annies Loop Truckee, CA	3.0	3.5	2194	$7,500	$3.42	44d	1	1.00mi
10077 Jake S Way Truckee, CA	3.0	3.5	2552	$10,500	$4.11	44d	1	1.01mi
10085 Nicolas Dr Unit A Truckee, CA	3.0	2.5	1871	$5,500	$2.94	44d	1	1.45mi

HOA detail

• Monthly dues: $769 · $9,228/yr

Listing history 17 events

1. 2026-06-21
   days on market $14,000 Active 117 DOM
2. 2026-06-18
   days on market $14,000 Active 114 DOM
3. 2026-06-17
   days on market $14,000 Active 113 DOM
4. 2026-06-16
   days on market $14,000 Active 112 DOM
5. 2026-06-15
   days on market $14,000 Active 111 DOM
6. 2026-06-14
   days on market $14,000 Active 109 DOM
7. 2026-06-10
   days on market $14,000 Active 106 DOM
8. 2026-06-09
   days on market $14,000 Active 105 DOM
9. 2026-06-08
   days on market $14,000 Active 104 DOM
10. 2026-06-07
    days on market $14,000 Active 103 DOM
11. 2026-06-05
    days on market $14,000 Active 100 DOM
12. 2026-06-03
    days on market $14,000 Active 99 DOM
13. 2026-06-02
    days on market $14,000 Active 98 DOM
14. 2026-06-01
    days on market $14,000 Active 97 DOM
15. 2026-05-31
    days on market $14,000 Active 96 DOM
16. 2026-05-30
    days on market $14,000 Active 95 DOM
17. 2026-02-23
    listed $14,000 Active 785-char remark

    Show marketing remark (785 chars)

    Enjoy this freshly renovated 3-bed Cabin w/ Murphy office room at Old Greenwood, 1/17 shared ownership, featuring premium winter week 5 every year. (Feb 5, - Feb 12th 2027) + floating time included. Preferred Access to two Championship golf courses accompany the Tahoe Mountain Club whenever you are in residence, including free shuttle service to Northstar resort and a private members lounge in the Village and private on-mountain restaurant creating a luxury 4-season club ownership experience. Guest can check in unaccompanied and use the amenities. Space Available is open for reservation by Flex, mid-week, and spontaneous reservations. Owner holds various additional reservations of 9/28-10/2, 2026 midweek and 8/28-9/4, 2026 for Flex week. See additional remarks for more info.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $89,738
• − Mortgage interest: −$784
• − Property taxes: −$210
• − Insurance: −$70
• − Repairs & maintenance: −$7,179
• − Management: −$7,179
• − HOA: −$9,228
• − Depreciation: −$407
• Taxable income: $64,680
• Est. tax owed @ 24.0%: −$15,523
• After-tax cash flow: $44,981/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 80/100 Cosmetic rehab

This well-maintained cabin in Truckee, CA, offers a luxurious 4-season club ownership experience with premium winter week 5 access and access to two championship golf courses. The property is in excellent condition with modern amenities and a prime location.

Value-add opportunities

• Both landscaping and snow removal services — improves curb appeal and accessibility
• Both winter maintenance kit — prepares for winter conditions and ensures safety
• Rental winter sports equipment — attracts winter sports enthusiasts

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping and snow removal services — improves curb appeal and accessibility ↑
• Both winter maintenance kit — prepares for winter conditions and ensures safety ↑
• Rental winter sports equipment — attracts winter sports enthusiasts ↑

ⓘ 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

1 event — show timeline

• 2026-02-23 Listed $14,000 TSMLS