11855 Hope Ct Unit B · Truckee, CA 96161-2152

$1,488,000

4 bd · 3.5 ba · 3,040 sqft · Condo · 14 Days on market

Built 2006 $500/mo HOA · 3% of rent

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Why this score? — see what drove the C- 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 +18.5/30.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• 1% rule +5.4/10.0
• Appreciation +5.0/10.0
• Schools +4.4/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This spacious and beautiful townhome is the best location in Pinyon Creek! 2 master suites, one on each level! Lower level has fireplace & its own private outside access. Upper Master has jetted tub, separate shower & fireplace. Vaulted ceilings in great room, expansive kitchen w/ granite counters, large breakfast bar, stainless steel appliances, hardwood floors, wood windows, walk-in closets, pantry, laundry room, solid doors. Backs to meadow.

Key facts

• Bunk room
• Flat driveway
• Vaulted ceiling

Tags

• LEVEL ACCESS
• FLAT DRIVEWAY
• SEE-THROUGH FIREPLACE
• MAIN-LEVEL PRIMARY SUITE
• VAULTED CEILING
• BUNK ROOM

Property features AI

Finance

• HOA & community: Monthly association fee of $500

Exterior

• Parking: Attached 2-car garage; Two covered parking spaces
• Utilities: Water from utility district; Sewer to utility district; Natural gas available
• Home design: Mountain-style townhome/condo/PUD; Two levels
• Construction: Composition roof; Concrete perimeter foundation
• Exterior features: Deck; Street frontage; Landscaped yard; Meadow view; Level topography

Interior

• Kitchen: Range; Oven; Microwave; Disposal; Dishwasher; Refrigerator
• Flooring: Carpet; Wood; Tile
• Bathrooms: Three full bathrooms; One half bathroom
• Heating & cooling: Central A/C; Natural gas heating; CFAH (central forced air heating)
• Interior features: Living room fireplace
• Laundry & utility: Washer; Dryer; Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/3.5-bath condo listed at $1.49M.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($15k rent vs $1.49M).
• Cap rate 7.4% vs local median 2.0% in Truckee — 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 58/100 on livability (#697 in CA) — a working-class tenant base; expect higher turnover. Strengths: employment A+, housing B; Watch: amenities F, commute F, cost of living 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: 3 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 215 units permitted in Nevada County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $55k of equity ($10k loan paydown + $45k appreciation (3.0% local appreciation)).
• Nevada County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $417k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$89k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 10y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $1.27M; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $1,488,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.04% ✓
• Cap rate: 7.43%
• Cash-on-cash: 4.08%
• DSCR: 1.18
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 11.3%
• Equity multiple: 1.65×
• Total profit: $269,956
• Equity at exit: $669,069

10-year hold

• IRR: 13.5%
• Equity multiple: 3.01×
• Total profit: $835,629
• Equity at exit: $1,031,116

Cash invested: $416,640 (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 96161-2152

• Active inventory: 3
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $15,442 medium
• Mortgage (P&I): −$7,803
• Tax est. 1.5%: −$1,860 /mo · $22,320/yr
• Insurance: −$620
• HOA: −$500
• Vacancy / Maint / Mgmt: −$3,243
• Net cashflow: $1,416

Break-even live

Break-even rent $13,650

Max offer price $1,488,000

Occupancy floor 86%

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: $372,000
• Closing costs: $44,640
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9244 Heartwood Dr Truckee, CA	4.0	4.0	2830	$15,000	$5.30	44d	1	0.67mi
9265 Heartwood Dr Truckee, CA	3.0	4.0	3803	$16,000	$4.21	44d	1	0.72mi

HOA detail condo

• Monthly dues: $500 · $6,000/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-18
   days on market $1,488,000 Active 14 DOM
2. 2026-06-17
   days on market $1,488,000 Active 13 DOM
3. 2026-06-16
   days on market $1,488,000 Active 12 DOM
4. 2026-06-15
   days on market $1,488,000 Active 11 DOM
5. 2026-06-14
   days on market $1,488,000 Active 9 DOM
6. 2026-06-10
   days on market $1,488,000 Active 6 DOM
7. 2026-06-09
   days on market $1,488,000 Active 5 DOM
8. 2026-06-08
   days on market $1,488,000 Active 4 DOM
9. 2026-06-07
   days on market $1,488,000 Active 3 DOM
10. 2026-06-05
    remarks 699-char remark
11. 2026-06-05
    listed $1,488,000 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 2/10 Low 9 d/yr ≥87°F today · 23 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 16 unhealthy d/yr today · 18 by 30 yrs out

Taxation est. · year 1

• Rental income: $185,300
• − Mortgage interest: −$83,351
• − Property taxes: −$22,320
• − Insurance: −$7,440
• − Repairs & maintenance: −$14,824
• − Management: −$14,824
• − HOA: −$6,000
• − Depreciation: −$43,287
• Taxable loss: −$6,747
• Est. tax savings @ 24.0%: +$1,619
• After-tax cash flow: $18,607/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 — Truckee

• Score: 58/100
• State rank: #697
• US rank: #21110

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Truckee, CA

Population outlook (Nevada County) Hauer SSP2

• Today (2025): 98,490 people
• By 2030: 97,295 · -1.2%
• By 2040: 92,041 · -6.5%
• By 2050: 85,164 · -13.5%
• By 2075: 68,436 · -30.5%
• By 2100: 49,536 · -49.7%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+98.7% since first listed

6 events — show timeline

• 2026-06-04 Listed $1,488,000 TSMLS
• 2021-06-25 Sold (MLS) $1,275,000 TSMLS
• 2021-06-06 Contingent — TSMLS
• 2021-05-28 Listed $1,300,000 TSMLS
• 2016-02-17 Delisted — TSMLS
• 2016-01-11 Listed $749,000 TSMLS