5547 Tares Cir · Elk Grove, CA 95757

$399,000

2 bd · 2.0 ba · 1,314 sqft · Condo public records · 73 Days on market

Built 2006 $304/sqft · at area comps Est $420k · at est. $260/mo HOA · 10% of rent

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Why this score? — see what drove the D 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).

• Appreciation +10.0/10.0
• ARV discount +9.7/15.0
• Cash flow +6.4/30.0
• Schools +4.1/10.0
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• 1% rule +1.8/10.0
• DSCR +0.7/10.0

Listing remarks

HUGE PRICE REDUCTION! Step into this renovated, ground-floor condo featuring 2 bedrooms and 2 full baths, located in the GATED Jasmine Community with SECURITY PATROL for added peace of mind. The interior boasts fresh paint, modern lighting, a newer thermostat, and LUXURY vinyl plank flooring that connects every space with a clean, cohesive look. The kitchen is anchored by solid granite countertops, a functional breakfast bar, and classic wooden cabinetry; it comes fully equipped with a spacious pantry, a dedicated breakfast area, and ENERGY STAR stainless steel appliances, including a 5-burner gas range. The adjacent living area feels cozy and bright, centered around a gas-log fireplace and

Key facts

• Gated community
• Covered balcony
• Security patrol

Tags

• GATED COMMUNITY
• SECURITY PATROL
• SOLID GRANITE COUNTERTOPS
• ENERGY STAR APPLIANCES
• COVERED BALCONY
• WALK-IN CLOSETS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $399k.

Deal economics

• At list price, monthly cash flow is $-699 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $276k (30.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $269k (32.5% below list).
• Recommended offer: $269k (32.5% below list) — sets the bar for 1% rule.
• Cap rate 4.2% vs local median 2.8% in Elk Grove — 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 71/100 on livability (#212 in CA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime B+; Watch: commute F, cost of living F.
• Elk Grove Unified (suburban): math 40% / reading 51% proficiency, ranked #165 of 517 in CA (top 32%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Franklin Elementary (math 45% / reading 60%, grade C-, #350 of 1,571 statewide, top 22%, 894 students, 38% FRL); Toby Johnson Middle (math 58% / reading 65%, grade B+, #52 of 498 statewide, top 11%, 1,234 students, 33% FRL); Franklin High (math 56% / reading 72%, grade B-, #180 of 1,170 statewide, top 15%, 2,587 students, 25% FRL).
• Zoned-school proficiency averages 59% at this address vs 46% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Elk Grove Unified average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+4.5%/yr); 297 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 6,825 units permitted in Sacramento County in 2024 (1,752 in 5+ unit buildings).

Forward outlook

• In year one you build about $43k of equity ($3k loan paydown + $40k appreciation (10.0% local appreciation)).
• Sacramento County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$69k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($375k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $184k; list at $399k implies a 117% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $269,395 (32.5% below list)

Questions for the listing agent

1. 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?
2. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. 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?
9. 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.
10. 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.
11. 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: 0.68% ✗
• Cap rate: 4.19%
• Cash-on-cash: -7.51%
• DSCR: 0.67
• GRM: 12.3

CMA / ARV

• ARV (median comp): $419,797
• List price: $399,000
• Delta: -4.95%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 4.54% rent growth · sell at horizon

5-year hold

• IRR: 19.4%
• Equity multiple: 2.59×
• Total profit: $177,120
• Equity at exit: $359,451

10-year hold

• IRR: 18.2%
• Equity multiple: 6.07×
• Total profit: $565,912
• Equity at exit: $775,169

Cash invested: $111,720 (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 95757

• Home prices YoY: 13.5%
• Rents YoY: 4.5%
• Active inventory: 297
• Price-to-rent: 12.3×

Monthly cashflow live

• Estimated rent: $2,694 high
• Mortgage (P&I): −$2,092
• Tax from tax record: −$308 /mo · $3,701/yr
• Insurance: −$166
• HOA: −$260
• Vacancy / Maint / Mgmt: −$566
• Net cashflow: $-699

Break-even live

Break-even rent $3,579

Max offer price $275,552

Occupancy floor —

Sensitivity live

Price	-10% $-473	-5% $-586	+0% $-699	+5% $-812	+10% $-925
Rent	-10% $-912	-5% $-805	+0% $-699	+5% $-592	+10% $-486
Rate	-1.0pp $-498	-0.5pp $-597	base $-699	+0.5pp $-802	+1.0pp $-907

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5028 Ocean Ln Elk Grove, CA	2.0	2.5	1225	$2,700	$2.20	14d	1	0.40mi
5028 Ocean Ln Elk Grove, CA	2.0	2.5	1225	$2,695	$2.20	0d	1	0.40mi
10057 Van Brocklin Way Elk Grove, CA	3.0	2.0	1179	$2,450	$2.08	0d	1	0.43mi
4724 Millner Way Elk Grove, CA	3.0	2.0	1660	$2,800	$1.69	45d	1	0.67mi
7216 Tavira Ct Elk Grove, CA	3.0	2.0	1513	$2,600	$1.72	45d	1	1.23mi
7540 Abbey Cir Elk Grove, CA	2.0	2.0	1257	$2,700	$2.15	6d	1	1.29mi
7405 Rothschild Ct Elk Grove, CA	3.0	2.0	1859	$2,650	$1.43	3d	1	1.29mi
9932 Westminster Way Elk Grove, CA	2.0	2.0	1376	$2,695	$1.96	25d	1	1.37mi
10371 Bruceville Rd Elk Grove, CA	2.0	3.0	1152	$2,700	$2.34	45d	1	1.42mi
10371 Bruceville Rd Elk Grove, CA	2.0	3.0	1152	$2,700	$2.34	19d	1	1.42mi

HOA detail condo

• Monthly dues: $260 · $3,120/yr
• Likely covers: gassecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-21
   days on market $399,000 Active 73 DOM
2. 2026-06-18
   days on market $399,000 Active 70 DOM
3. 2026-06-18
   price $399,000 Active 69 DOM
4. 2026-06-17
   days on market $418,000 Active 69 DOM
5. 2026-06-16
   days on market $418,000 Active 68 DOM
6. 2026-06-15
   days on market $418,000 Active 67 DOM
7. 2026-06-13
   days on market $418,000 Active 65 DOM
8. 2026-06-13
   days on market $418,000 Active 64 DOM
9. 2026-06-09
   days on market $418,000 Active 61 DOM
10. 2026-06-08
    days on market $418,000 Active 60 DOM
11. 2026-06-07
    days on market $418,000 Active 59 DOM
12. 2026-06-05
    days on market $418,000 Active 56 DOM
13. 2026-06-03
    days on market $418,000 Active 55 DOM
14. 2026-06-02
    days on market $418,000 Active 54 DOM
15. 2026-06-01
    days on market $418,000 Active 53 DOM
16. 2026-05-31
    days on market $418,000 Active 52 DOM
17. 2013-12-02
    soldstatus $184,000

ⓘ 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: $3,701 · $308/mo
• Projected year-2 tax: $3,701 · $308/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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 25 unhealthy d/yr today · 27 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,327
• − Mortgage interest: −$22,350
• − Property taxes: −$3,701
• − Insurance: −$1,995
• − Repairs & maintenance: −$2,586
• − Management: −$2,586
• − HOA: −$3,120
• − Depreciation: −$11,607
• Taxable loss: −$15,618
• Est. tax savings @ 24.0%: +$3,748
• After-tax cash flow: $-4,637/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: Elk Grove Unified
• NCES district ID: 0612330
• Math proficiency: 40% ▼ -5.00%
• Reading proficiency: 51% ▼ -5.00%
• Median HH income: $67,860
• Composite: 40.72/100
• National rank: #3658
• State rank: #165 of 517 in CA

Livability — Elk Grove

• Score: 71/100
• State rank: #212
• US rank: #6681

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elk Grove, CA
• County: Sacramento County · 1,539,646 people
• City population: 190,119
• Metro: Sacramento-Roseville-Folsom, CA
• Population (ZIP): 56,764
• Household income: $138,198
• Rent vs Own: 26.5% rent · 73.5% own
• Severe rent burden: 1121.0

Population outlook (Sacramento County) Hauer SSP2

• Today (2025): 1,660,763 people
• By 2030: 1,732,990 · +4.3%
• By 2040: 1,855,755 · +11.7%
• By 2050: 1,941,335 · +16.9%
• By 2075: 2,046,162 · +23.2%
• By 2100: 1,961,444 · +18.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.75)
• Race & ethnicity: Asian 40% White 21% Hispanic / Latino 18% Two or more races 14% Black 11% Pacific Islander 1%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Russian 1% Italian 1% Portuguese 1%
• Foreign-born: 28% · China, Canada, Vietnam
• Languages at home: 62% English-only · Spanish 8% Other Indo-European 7% Chinese 7%

Political lean MEDSL · Sacramento

• 2024 margin: D (+19.7) · D 58.1% · R 38.4% · Other 3.5%
• 2008→2024 swing: +0.7pp no change · 2008: 19.0pp · 2024: 19.7pp
• All cycles: 2024: D+19.7 2020: D+25.3 2016: D+23.7 2012: D+16.3 2008: D+19.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 39.15%
• Current HPI: 328.5885
• Rent YoY: ▲ 4.54%
• 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

Price history

1 event — show timeline

• 2013-12-02 Sold (Public Records) $184,000 Public Records

Property tax history

+1.2%/yr

Latest (2025): $3,701 · +1.3% YoY. Source: county tax records.