197 - 199 Hoffman Ave · Auburn, CA 95603

$299,000

1 bd · 1.5 ba · 2,004 sqft · MultiFamily public records · 3 Days on market

Built 1934 6,634 sqft lot

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Why this score? — see what drove the B- 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 +28.3/30.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• Schools +4.9/10.0
• Livability +3.2/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Classic Old Auburn Duplex. This property is a fixer waiting to be brought back to its former glory. Bring all investors and contractors to view this property as it has great potential due to its downtown location. Cash buyers only. Owner financing is potentially available. complete inspections by certified/ licensed inpectors is recommended.

Key facts

• 6,634 sq ft lot
• 4 parking spots
• Built 1934

Property features AI

Finance

• Other: Property listed as residential income — duplex; Condition listed as fixer
• HOA & community: No homeowners association

Exterior

• Parking: Off-street parking
• Utilities: Public water; Private sewer; Natural gas connected; No irrigation
• Home design: Duplex (residential income); Apartments subtype; 2 stories total; Built in 1934; Entry level information not specified; Facing direction not specified
• Construction: Built in 1934; Composition roof
• Exterior features: Composition roof; Lot features: none noted

Interior

• Bedrooms: 2 rooms total (includes bedrooms and other rooms)
• Flooring: Wood flooring; Other flooring
• Heating & cooling: Central heating; Wall furnace; Natural gas heating; Wall air conditioning units; No central air
• Interior features: Covered patio; Gas water heater; Fixer condition
• Laundry & utility: Laundry hookups (other)

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $299k.

Deal economics

• At list price, monthly cash flow is $963 ($12k/yr) — positive. Per door: $481/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $299k).
• Cap rate 10.2% vs local median 2.1% in 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 63/100 on livability (#450 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+; Watch: commute F, cost of living 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); 204 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).
• At $3,835/mo this rent would consume 54% of the median local household income ($85k/yr) (locally 1017% 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 $2k of loan paydown is wiped out by about $9k 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 $84k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1934 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $299,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1934 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.28% ✓
• Cap rate: 10.16%
• Cash-on-cash: 13.80%
• DSCR: 1.61
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.34% rent growth · sell at horizon

5-year hold

• IRR: 3.2%
• Equity multiple: 1.12×
• Total profit: $10,392
• Equity at exit: $44,582

10-year hold

• IRR: 12.2%
• Equity multiple: 1.93×
• Total profit: $77,992
• Equity at exit: $25,852

Cash invested: $83,720 (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: 204
• Price-to-rent: 13.0×

Monthly cashflow live

• Estimated rent: $3,835 high
• Mortgage (P&I): −$1,568
• Tax from tax record: −$374 /mo · $4,493/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$805
• Net cashflow: $963

Break-even live

Break-even rent $2,616

Max offer price $299,000

Occupancy floor 70%

Sensitivity live

Price	-10% $1,132	-5% $1,047	+0% $963	+5% $878	+10% $793
Rent	-10% $660	-5% $811	+0% $963	+5% $1,114	+10% $1,266
Rate	-1.0pp $1,113	-0.5pp $1,039	base $963	+0.5pp $885	+1.0pp $806

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,836
Total (2 units)			$3,835

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
172 Orange St Unit 1 Auburn, CA	1.0	1.0	1700	$2,095	$1.23	17d	1	0.47mi
1447 Lincoln Way Auburn, CA	2.0	1.0	1500	$1,825	$1.22	11d	1	0.67mi

Listing history 6 events

1. 2026-06-18
   days on market $299,000 Active 3 DOM
2. 2026-06-17
   remarks 343-char remark
3. 2026-06-17
   days on market $299,000 Active 2 DOM
4. 2026-06-16
   remarks 246-char remark
5. 2026-06-15
   remarks 187-char remark
6. 2026-06-15
   listed $299,000 Active 1 DOM

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

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $4,493 · $374/mo
• Projected year-2 tax: $4,493 · $374/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 9/10 Extreme
• 🌡 Heat 6/10 Major 7 d/yr ≥99°F today · 17 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: $46,020
• − Mortgage interest: −$16,749
• − Property taxes: −$4,493
• − Insurance: −$1,495
• − Repairs & maintenance: −$3,682
• − Management: −$3,682
• − Depreciation: −$8,698
• Taxable income: $7,222
• Est. tax owed @ 24.0%: −$1,733
• After-tax cash flow: $9,819/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 — Auburn

• Score: 63/100
• State rank: #450
• US rank: #15226

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Auburn, CA
• County: Placer County · 390,510 people
• City population: 48,133
• 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

Property tax history

+1.9%/yr

Latest (2025): $4,493 · +1.5% YoY. Source: county tax records.