1036 Moss Rd · South Lake Tahoe, CA 96150

$1,150,000

49 bd · 49.0 ba · 3,176 sqft · MultiFamily public records · 198 Days on market

Built 1957 10,018 sqft lot $362/sqft · 39% above area Est $827k · 39% over

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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 +19.2/30.0
• DSCR +6.1/10.0
• 1% rule +4.4/10.0
• Schools +3.5/10.0
• Rent growth +3.4/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 7 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Fabulous 7 unit property in South Lake Tahoe! Just a short walk to stateline, where all the action is. These units are easy to rent and get great income. 6 units are studios with 1 bathroom, and 1 unit is a 1 bedroom with 1 bathroom. Great opportunity to own a great investment property in a prime location!

Key facts

• Great income
• Easy to rent
• 7 unit property

Tags

• 7 UNIT PROPERTY
• SHORT WALK TO STATELINE
• EASY TO RENT
• GREAT INCOME
• PRIME LOCATION

What this means for you Summary

Snapshot

• This is a 1×1bd/1ba + 6×?bd/1ba units multifamily listed at $1.15M.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $177/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.09M (5.6% below list).
• Recommended offer: $1.01M (12.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 2.6% in South Lake Tahoe — 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 65/100 on livability (#371 in CA) — a middle-class / working-renter tenant base. Strengths: health & safety A+; Watch: crime F, commute F, cost of living F.
• Lake Tahoe Unified (town): math 33% / reading 43% proficiency, ranked #786 of 1,400 in CA (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Sierra House Elementary (410 students, 56% FRL); South Tahoe Middle (798 students, 52% FRL); South Tahoe High (1,141 students, 42% FRL) — zoned schools at 50% FRL track the district average.
• Market conditions: Rents rising (+3.6%/yr); 316 active listings in the ZIP; solid renter incomes; 437 units permitted in El Dorado County in 2024 (0 in 5+ unit buildings).
• At $10,861/mo this rent would consume 141% of the median local household income ($93k/yr) (locally 1109% 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 $8k of loan paydown is wiped out by about $34k of value loss. Plan a longer hold.
• El Dorado County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 198 days — a 12% lower offer ($1.01M) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 23y 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 $825k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,012,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 198 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. Crime grade is F 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.94% ✗
• Cap rate: 7.58%
• Cash-on-cash: 4.61%
• DSCR: 1.21
• GRM: 8.8

CMA / ARV

• ARV (median comp): $827,272
• List price: $1,150,000
• Delta: 39.01%
• Verdict: OVERPRICED
• Comps: 11 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.56% rent growth · sell at horizon

5-year hold

• IRR: -8.5%
• Equity multiple: 0.68×
• Total profit: $-101,654
• Equity at exit: $171,469

10-year hold

• IRR: 1.6%
• Equity multiple: 1.12×
• Total profit: $37,582
• Equity at exit: $99,431

Cash invested: $322,000 (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 96150

• Rents YoY: 3.6%
• Active inventory: 316
• Price-to-rent: 58.9×

Monthly cashflow live

• Estimated rent: $10,861 medium
• Mortgage (P&I): −$6,031
• Tax from tax record: −$834 /mo · $10,006/yr
• Insurance: −$479
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,281
• Net cashflow: $1,236

Break-even live

Break-even rent $9,296

Max offer price $1,150,000

Occupancy floor 84%

Sensitivity live

Price	-10% $1,887	-5% $1,562	+0% $1,236	+5% $911	+10% $585
Rent	-10% $378	-5% $807	+0% $1,236	+5% $1,665	+10% $2,094
Rate	-1.0pp $1,816	-0.5pp $1,529	base $1,236	+0.5pp $938	+1.0pp $635

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

Units	Beds	Baths	Est. rent
1× unit	1	1	$1,627
▸ 6× units	0	1	$9,234
Total (7 units)			$10,861

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: $287,500
• Closing costs: $34,500
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-01
   days on market $1,150,000 Active 198 DOM
2. 2026-05-31
   days on market $1,150,000 Active 197 DOM
3. 2025-11-15
   listed $1,150,000 Active 312-char remark

   Show marketing remark (312 chars)

   Fabulous 7 unit property in South Lake Tahoe! Just a short walk to stateline, where all the action is. These units are easy to rent and get great income. 6 units are studios with 1 bathroom, and 1 unit is a 1 bedroom with 1 bathroom. Great opportunity to own a great investment property in a prime location!

4. 2024-01-13
   historical
5. 2023-12-15
   listed
6. 2022-12-22
   historical
7. 2021-05-12
   soldstatus $825,000 Sold 177-char remark

   Show marketing remark (177 chars)

   Newly renovated units, with newer appliances, flooring, paint. Great location for tenants. Close to Stateline, Shopping, Lake, and Bus Lines. Easily managed, and fully occupied.

8. 2021-05-12
   soldstatus $825,000

   Show marketing remark (177 chars)

   Newly renovated units, with newer appliances, flooring, paint. Great location for tenants. Close to Stateline, Shopping, Lake, and Bus Lines. Easily managed, and fully occupied.

9. 2021-02-26
   status Active Pending 177-char remark

   Show marketing remark (177 chars)

   Newly renovated units, with newer appliances, flooring, paint. Great location for tenants. Close to Stateline, Shopping, Lake, and Bus Lines. Easily managed, and fully occupied.

10. 2021-02-19
    listed $825,000 Active 177-char remark

    Show marketing remark (177 chars)

    Newly renovated units, with newer appliances, flooring, paint. Great location for tenants. Close to Stateline, Shopping, Lake, and Bus Lines. Easily managed, and fully occupied.

11. 2014-02-03
    soldstatus $340,000 Sold
12. 2014-02-03
    soldstatus $340,000
13. 2014-01-12
    status Active Pending
14. 2013-08-23
    listed $399,000 Active
15. 2007-09-15
    historical
16. 2007-06-13
    listed $649,950
17. 2005-04-13
    soldstatus $489,000
18. 2005-04-13
    soldstatus $489,000
19. 2005-04-01
    historical
20. 2005-01-20
    historical
21. 2004-10-12
    listed $499,000
22. 2004-04-30
    listed $499,000
23. 2003-10-31
    historical
24. 2003-07-24
    listed $599,000
25. 1989-02-01
    soldstatus $108,500
26. 1989-02-01
    soldstatus $108,500

ⓘ 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: $10,006 · $834/mo
• Projected year-2 tax: $10,006 · $834/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 6/10 Major
• 🌡 Heat 1/10 Low 8 d/yr ≥81°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 15 unhealthy d/yr today · 17 by 30 yrs out

Taxation est. · year 1

• Rental income: $130,332
• − Mortgage interest: −$64,418
• − Property taxes: −$10,006
• − Insurance: −$5,750
• − Repairs & maintenance: −$10,427
• − Management: −$10,427
• − Depreciation: −$33,455
• Taxable loss: −$4,150
• Est. tax savings @ 24.0%: +$996
• After-tax cash flow: $15,833/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: Lake Tahoe Unified
• NCES district ID: 0620640
• Math proficiency: 33% ▼ -1.00%
• Reading proficiency: 43% ▲ 1.00%
• Median HH income: $49,114
• Composite: 35.24/100
• National rank: #9844
• State rank: #786 of 1400 in CA

Livability — South Lake Tahoe

• Score: 65/100
• State rank: #371
• US rank: #12667

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Lake Tahoe, CA
• County: El Dorado County · 144,198 people
• City population: 29,646
• Metro: Sacramento-Roseville-Folsom, CA
• Population (ZIP): 29,646
• Household income: $92,517
• Rent vs Own: 38.8% rent · 61.2% own
• Severe rent burden: 1109.0

Population outlook (El Dorado County) Hauer SSP2

• Today (2025): 191,666 people
• By 2030: 193,662 · +1.0%
• By 2040: 192,583 · +0.5%
• By 2050: 185,904 · -3.0%
• By 2075: 169,543 · -11.5%
• By 2100: 139,623 · -27.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 24% Two or more races 11% Asian 5%
• Hispanic origin (detail): Mexican 19%
• Common ancestry: Lithuanian 3% Slovak 3% Romanian 2%
• Foreign-born: 17% · Canada, China, South Korea
• Languages at home: 76% English-only · Spanish 17% Tagalog/Filipino 2% Other Asian/Pacific 1%

Political lean MEDSL · El Dorado

• 2024 margin: R (+12.0) · D 42.6% · R 54.6% · Other 2.8%
• 2008→2024 swing: -1.5pp toward R · 2008: -10.5pp · 2024: -12.0pp
• All cycles: 2024: R+12.0 2020: R+8.8 2016: R+13.9 2012: R+18.2 2008: R+10.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -571.55%
• Current HPI: 316.6411
• Rent YoY: ▲ 3.56%
• 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

+959.9% since first listed

24 events — show timeline

• 2025-11-15 Listed $1,150,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2024-01-13 Rental Removed — APPFOLIO
• 2023-12-15 Listed for Rent — APPFOLIO
• 2022-12-22 Rental Removed — APPFOLIO
• 2021-05-12 Sold (Public Records) $825,000 Public Records
• 2021-05-12 Sold (MLS) $825,000 STARMLS
• 2021-02-26 Pending — STARMLS
• 2021-02-19 Listed $825,000 STARMLS
• 2014-02-03 Sold (Public Records) $340,000 Public Records
• 2014-02-03 Sold (MLS) $340,000 STARMLS
• 2014-01-12 Pending — STARMLS
• 2013-08-23 Listed $399,000 STARMLS
• 2007-09-15 Delisted — STARMLS
• 2007-06-13 Listed $649,950 STARMLS
• 2005-04-13 Sold (Public Records) $489,000 Public Records
• 2005-04-13 Sold (MLS) $489,000 MLSListings
• 2005-04-01 Delisted — STARMLS
• 2005-01-20 Listing Removed — MLSListings
• 2004-10-12 Listed $499,000 MLSListings
• 2004-04-30 Listed $499,000 STARMLS
• 2003-10-31 Delisted — STARMLS
• 2003-07-24 Listed $599,000 STARMLS
• 1989-02-01 Sold (Public Records) $108,500 Public Records
• 1989-02-01 Sold (Public Records) $108,500 Public Records

Property tax history

+11.7%/yr

Latest (2025): $10,006 · +5.4% YoY. Source: county tax records.