3305 Granada Dr

Cameron Park, CA 95682

$460,000D+

3 bd · 2.5 ba · 2,301 sqft · Built 1987 · SingleFamily · Pending · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,494/mo
• Mortgage (P&I): −$2,412
• Tax + insurance: −$454
• HOA: −$0
• Vac / Maint / Mgmt: −$734
• Net cashflow: $-106/mo
• Annual: $-1,275/yr
• Cap rate: 6.02%
• Cash-on-cash: -0.99%
• DSCR: 0.96
• 1% rule: 0.76%
• Cash to close: $128,800

Investor read

• This is a 3-bed/2.5-bath single-family listed at $460k.
• At list price, monthly cash flow is $-106 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $441k (4.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $349k (24.0% below list).
• It's been on market 22 days — a 2% lower offer ($453k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $349k (24.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.
• Location reads 55/100 on livability (#832 in CA) — a working-class tenant base; expect higher turnover. Strengths: employment A+, housing B+; Watch: crime D+, amenities F, commute F.
• Rescue Union Elementary (suburban): math 61% / reading 69% proficiency, ranked #56 of 517 in CA (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 11% free/reduced lunch — higher-income household profile.
• Zoned schools: Rescue Elementary (math 72% / reading 67%, grade A-, #147 of 1,571 statewide, top 10%, 497 students, 21% FRL); Pleasant Grove Middle (math 49% / reading 64%, grade B, #71 of 498 statewide, top 14%, 476 students, 23% FRL); Ponderosa High (math 62% / reading 82%, grade B+, #92 of 1,170 statewide, top 8%, 1,648 students, 16% FRL).
• Market conditions: Rents rising (+2.9%/yr); 238 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 437 units permitted in El Dorado County in 2024 (0 in 5+ unit buildings).
• El Dorado County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Current owner paid $19k; list at $460k implies a 2321% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major flood risk; severe wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.0% vs local median 2.7% in Cameron Park — 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.
• This rent runs 34% of the median local income ($122k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.
• 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.