2201 Scott Peak Pl 49

Sunnyside-Tahoe City, CA 96146

$535,000D

2 bd · 2.0 ba · 1,132 sqft · Built 1980 · Condo · Active · 325 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,866/mo
• Mortgage (P&I): −$2,806
• Tax + insurance: −$394
• HOA: −$0
• Vac / Maint / Mgmt: −$602
• Net cashflow: $-935/mo
• Annual: $-11,225/yr
• Cap rate: 4.19%
• Cash-on-cash: -7.49%
• DSCR: 0.67
• 1% rule: 0.54%
• Cash to close: $149,800

Investor read

• This is a 2-bed/2.0-bath condo listed at $535k.
• At list price, monthly cash flow is $-935 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $370k (30.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $287k (46.4% below list).
• It's been on market 325 days — a 12% lower offer ($471k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $287k (46.4% below list) — sets the bar for 1% rule.
• In year one you build about $21k of equity ($4k loan paydown + $17k appreciation (3.2% local appreciation)).
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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: Tahoe Lake Elementary (math 52% / reading 52%, grade C-, #354 of 1,571 statewide, top 24%, 292 students, 23% FRL); North Tahoe Middle (math 39% / reading 53%, grade D+, #122 of 498 statewide, top 25%, 299 students, 37% FRL); North Tahoe High (math 47% / reading 67%, grade C, #234 of 1,170 statewide, top 21%, 505 students, 33% FRL) — zoned schools at 31% FRL track the district average.
• Market conditions: 52 active listings in the ZIP; 3,535 units permitted in Placer County in 2024 (689 in 5+ unit buildings).
• Placer County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $79k; list at $535k implies a 577% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.2% vs local median 0.0% in Sunnyside-Tahoe City — 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.

Questions for listing agent

• 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?
• It's been on market 325 days. Have you received any prior offers? Is the seller open to a 46% concession, seller financing, or rate buy-down credit?
• 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?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.
• 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.