8000 North Lake Blvd #5 · Kings Beach, CA 96143

$395,000

3 bd · 2.5 ba · 1,788 sqft · Condo public records · 1 Days on market

Built 1991 $221/sqft · 55% below area $567/mo HOA · 16% of rent ↓ 5% since listing

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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).

• Cash flow +9.9/30.0
• ARV discount +7.5/15.0
• Appreciation +5.7/10.0
• Schools +4.4/10.0
• 1% rule +3.9/10.0
• DSCR +2.8/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Situated in the center of Kings Beach at the junction of Highway 267 and Highway 28, Sweetbriar Condominiums offers one of North Lake Tahoe’s most sought-after fractional ownership opportunities, combining the ultimate summer beachfront lifestyle with ideal winter proximity to Northstar for world-class skiing. This gated lakefront community features direct sandy beach access—perfect for swimming, paddleboarding, boating, and sunsets—while being just minutes from lifts, après, and mountain winter activities. This 1/6th ownership provides 8–9 weeks annually on a rotating calendar and includes confirmed 2025 reservations of November 28–December 5 and December 19–26, along with premium 2026 dates including MLK weekend, peak winter ski weeks, summer weeks, and Thanksgiving. Owners are currently in 3rd position for the 2026 selection cycle and will move to 2nd position in 2027, offering strong future priority. Lakefront #5 is also one of only two lakefront residences in the community that recently replaced all heating elements, including brass valves and new tubing—a valuable upgrade for long-term comfort and reliability. Sweetbriar consists of just twelve residences—six lakefront and six garden units—each designed specifically for fractional ownership with individual APNs, shared scheduling, and turnkey, fully furnished interiors. The gated waterfront setting includes buoy access available seasonally through the HOA, and this residence offers a private attached garage. The comprehensive HOA covers nearly all ownership expenses, including gas, electric, water, sewer, sanitation, trash, cable TV, Wi-Fi, phone, insurance, snow removal, and landscaping; owners are responsible only for individually billed property taxes.

Key facts

• Lakefront community
• Garage
• Built 1991

Tags

• LAKEFRONT COMMUNITY
• DIRECT SANDY BEACH ACCESS
• GATED WATERFRONT SETTING
• BUOY ACCESS AVAILABLE
• PRIVATE ATTACHED GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $395k.

Deal economics

• At list price, monthly cash flow is $-242 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $352k (10.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $350k (11.4% below list).
• Recommended offer: $350k (11.4% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 1.7% in Kings Beach — 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 54/100 on livability (#889 in CA) — a working-class tenant base; expect higher turnover. Strengths: crime A; Watch: schools C-, amenities F, commute 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: 36 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 3,535 units permitted in Placer County in 2024 (689 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($3k loan paydown + $6k appreciation (1.4% local appreciation)).
• Placer County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 5, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $350,000 (11.4% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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: 0.89% ✗
• Cap rate: 5.56%
• Cash-on-cash: -2.63%
• DSCR: 0.88
• GRM: 9.4

CMA / ARV

• ARV (median comp): $868,525
• List price: $395,000
• Delta: -54.52%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

1.44% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $727
• Equity at exit: $143,954

10-year hold

• IRR: 4.7%
• Equity multiple: 1.60×
• Total profit: $66,567
• Equity at exit: $198,554

Cash invested: $110,600 (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 96143

• Home prices YoY: 0.5%
• Active inventory: 36
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $3,500 medium
• Mortgage (P&I): −$2,071
• Tax from tax record: −$204 /mo · $2,454/yr
• Insurance: −$165
• HOA: −$567
• Vacancy / Maint / Mgmt: −$735
• Net cashflow: $-242

Break-even live

Break-even rent $3,807

Max offer price $352,161

Occupancy floor —

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: $98,750
• Closing costs: $11,850
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
571 Brassie Ave Tahoe Vista, CA	3.0	2.0	1344	$3,500	$2.60	23d	1	0.40mi

HOA detail condo

• Monthly dues: $567 · $6,804/yr
• Likely covers: watersewertrashgaselectricinternetcablelandscapingsnow removalsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-06-17
   remarks 668-char remark
2. 2026-06-17
   days on marketlisting id $395,000 Active 1 DOM
3. 2026-05-30
   days on market $395,000 Active 178 DOM
4. 2026-03-18
   price $395,000 1801-char remark

   Show marketing remark (1801 chars)

   Situated in the center of Kings Beach at the junction of Highway 267 and Highway 28, Sweetbriar Condominiums offers one of North Lake Tahoe’s most sought-after fractional ownership opportunities, combining the ultimate summer beachfront lifestyle with ideal winter proximity to Northstar for world-class skiing. This gated lakefront community features direct sandy beach access—perfect for swimming, paddleboarding, boating, and sunsets—while being just minutes from lifts, après, and mountain winter activities. This 1/6th ownership provides 8–9 weeks annually on a rotating calendar and includes confirmed 2025 reservations of November 28–December 5 and December 19–26, along with premium 2026 dates including MLK weekend, peak winter ski weeks, summer weeks, and Thanksgiving. Owners are currently in 3rd position for the 2026 selection cycle and will move to 2nd position in 2027, offering strong future priority. Lakefront #5 is also one of only two lakefront residences in the community that recently replaced all heating elements, including brass valves and new tubing—a valuable upgrade for long-term comfort and reliability. Sweetbriar consists of just twelve residences—six lakefront and six garden units—each designed specifically for fractional ownership with individual APNs, shared scheduling, and turnkey, fully furnished interiors. The gated waterfront setting includes buoy access available seasonally through the HOA, and this residence offers a private attached garage. The comprehensive HOA covers nearly all ownership expenses, including gas, electric, water, sewer, sanitation, trash, cable TV, Wi-Fi, phone, insurance, snow removal, and landscaping; owners are responsible only for individually billed property taxes.

5. 2025-12-02
   listed $415,000 Active 1801-char remark

   Show marketing remark (1801 chars)

   Situated in the center of Kings Beach at the junction of Highway 267 and Highway 28, Sweetbriar Condominiums offers one of North Lake Tahoe’s most sought-after fractional ownership opportunities, combining the ultimate summer beachfront lifestyle with ideal winter proximity to Northstar for world-class skiing. This gated lakefront community features direct sandy beach access—perfect for swimming, paddleboarding, boating, and sunsets—while being just minutes from lifts, après, and mountain winter activities. This 1/6th ownership provides 8–9 weeks annually on a rotating calendar and includes confirmed 2025 reservations of November 28–December 5 and December 19–26, along with premium 2026 dates including MLK weekend, peak winter ski weeks, summer weeks, and Thanksgiving. Owners are currently in 3rd position for the 2026 selection cycle and will move to 2nd position in 2027, offering strong future priority. Lakefront #5 is also one of only two lakefront residences in the community that recently replaced all heating elements, including brass valves and new tubing—a valuable upgrade for long-term comfort and reliability. Sweetbriar consists of just twelve residences—six lakefront and six garden units—each designed specifically for fractional ownership with individual APNs, shared scheduling, and turnkey, fully furnished interiors. The gated waterfront setting includes buoy access available seasonally through the HOA, and this residence offers a private attached garage. The comprehensive HOA covers nearly all ownership expenses, including gas, electric, water, sewer, sanitation, trash, cable TV, Wi-Fi, phone, insurance, snow removal, and landscaping; owners are responsible only for individually billed property taxes.

ⓘ 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: $2,454 · $204/mo
• Projected year-2 tax: $3,002 · $250/mo
• Expected delta: +$548/yr (+$46/mo · 22.3%)

ⓘ 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 5/10 Major
• 🌡 Heat 1/10 Low 8 d/yr ≥85°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 25 unhealthy d/yr today · 31 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,000
• − Mortgage interest: −$22,126
• − Property taxes: −$2,454
• − Insurance: −$1,975
• − Repairs & maintenance: −$3,360
• − Management: −$3,360
• − HOA: −$6,804
• − Depreciation: −$11,491
• Taxable loss: −$9,570
• Est. tax savings @ 24.0%: +$2,297
• After-tax cash flow: $-613/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: 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 — Kings Beach

• Score: 54/100
• State rank: #889
• US rank: #23842

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kings Beach, CA
• City population: 2,852
• Population (ZIP): 2,852

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: Majority White (54%)
• Race & ethnicity: White 54% Hispanic / Latino 43% Two or more races 10% Asian 2%
• Hispanic origin (detail): Mexican 41%
• Common ancestry: Italian 7% Portuguese 3% Scotch-Irish 3%
• Foreign-born: 28% · Canada
• Languages at home: 67% English-only · Spanish 32% Russian/Polish/Slavic 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: ▲ 1.44%
• Current HPI: 274.6145
• Rent YoY: —
• Metro: —
• 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

-4.8% since first listed

2 events — show timeline

• 2026-03-18 Price Changed $395,000 TSMLS
• 2025-12-02 Listed $415,000 TSMLS

Property tax history

+1.4%/yr

Latest (2025): $2,454 · +3.0% YoY. Source: county tax records.