10017 East River St · Truckee, CA 96161-2152

$1,895,000

4 bd · 2.0 ba · 2,076 sqft · MultiFamily public records · 60 Days on market

Built 1881 $913/sqft · 55% above area

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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 +16.8/30.0
• ARV discount +7.5/15.0
• DSCR +5.2/10.0
• Appreciation +5.0/10.0
• Schools +4.4/10.0
• 1% rule +3.2/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Fully remodeled and ideally located in the heart of Truckee, this historical property offers a rare opportunity to own a piece of local history while enjoying modern comfort and flexibility. Situated in the heart of one of America’s top-ranked ski towns, you’re just minutes from world-class resorts and year-round outdoor adventure. Zoned with the highly desirable DMU (Downtown Mixed Use) designation, this versatile multi-family property features two distinct living units, but could easily live as one single family home, plus the potential for private office space or a large mudroom—perfect for those seeking a live/work lifestyle or rental income opportunities. The lower le

Key facts

• Private office space
• Fully remodeled
• Historical property

Tags

• FULLY REMODELED
• HISTORICAL PROPERTY
• MULTI-FAMILY PROPERTY
• PRIVATE OFFICE SPACE
• LARGE MUDROOM
• BBQ DECK

Property features AI

Exterior

• Parking: Parking pad; No garage
• Utilities: Water from utility district; Sewer to utility district
• Home design: Mountain-style architecture; Single-family home; Two levels
• Construction: Frame construction; Metal roof; Concrete perimeter foundation; Property listed in Truckee subdivision
• Exterior features: Level topography; Street access

Interior

• Kitchen: Range; Oven; Microwave; Dishwasher; Garbage disposal; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central forced air heating
• Interior features: Like-new condition; Downtown view
• Laundry & utility: Hall laundry

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $1.90M.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.56M (17.7% below list).
• Recommended offer: $1.56M (17.7% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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.
• Zoned schools: Glenshire Elementary (math 62% / reading 70%, grade B+, #176 of 1,571 statewide, top 11%, 500 students, 12% FRL); Alder Creek Middle (math 41% / reading 54%, grade C-, #113 of 498 statewide, top 23%, 538 students, 26% FRL); Tahoe Truckee High (math 47% / reading 62%, grade C-, #256 of 1,170 statewide, top 24%, 890 students, 24% FRL).
• Market conditions: 3 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 89% of comp listings sitting > 30 days — soft ceiling on asking rent; 215 units permitted in Nevada County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $70k of equity ($13k loan paydown + $57k 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 $531k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$114k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($1.84M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $1.26M; list at $1.90M implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1881 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,560,000 (17.7% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
2. Built in 1881 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 0.82% ✗
• Cap rate: 7.07%
• Cash-on-cash: 2.77%
• DSCR: 1.12
• GRM: 10.1

CMA / ARV

• ARV (median comp): $1,219,917
• List price: $1,895,000
• Delta: 55.34%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 9.9%
• Equity multiple: 1.57×
• Total profit: $301,210
• Equity at exit: $852,074

10-year hold

• IRR: 12.2%
• Equity multiple: 2.82×
• Total profit: $967,725
• Equity at exit: $1,313,148

Cash invested: $530,600 (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 96161-2152

• Active inventory: 3
• Price-to-rent: 20.2×

Monthly cashflow live

• Estimated rent: $15,600 medium
• Mortgage (P&I): −$9,938
• Tax from tax record: −$370 /mo · $4,444/yr
• Insurance: −$790
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,276
• Net cashflow: $1,160

Break-even live

Break-even rent $14,132

Max offer price $1,895,000

Occupancy floor 88%

Sensitivity live

Price	-10% $2,233	-5% $1,696	+0% $1,160	+5% $624	+10% $87
Rent	-10% $-72	-5% $544	+0% $1,160	+5% $1,776	+10% $2,392
Rate	-1.0pp $2,114	-0.5pp $1,642	base $1,160	+0.5pp $669	+1.0pp $169

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$15,600
Total (2 units)			$15,600

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: $473,750
• Closing costs: $56,850
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10192 Schaffer Dr Truckee, CA	3.0	2.5	1532	$4,495	$2.93	45d	1	0.34mi
10085 Nicolas Dr Unit A Truckee, CA	3.0	2.5	1871	$5,500	$2.94	45d	1	0.75mi
10283 White Fir Rd Unit 1251993P Truckee, CA	3.0	2.0	1894	$5,879	$3.10	15d	1	0.99mi
11319 Brockway Rd Truckee, CA	3.0	2.5	1800	$4,200	$2.33	45d	1	1.16mi
9244 Heartwood Dr Truckee, CA	4.0	4.0	2830	$15,000	$5.30	45d	1	1.17mi
11357 Brockway Rd Truckee, CA	3.0	2.5	1925	$4,500	$2.34	45d	1	1.22mi
10077 Jake S Way Truckee, CA	3.0	3.5	2552	$10,500	$4.11	45d	1	1.29mi
10207 Shore Pine Rd Truckee, CA	4.0	2.0	1908	$4,600	$2.41	45d	1	1.30mi
10175 Annies Loop Truckee, CA	3.0	3.5	2194	$7,500	$3.42	45d	1	1.38mi

Listing history 21 events

1. 2026-06-21
   days on market $1,895,000 Active 60 DOM
2. 2026-06-18
   days on market $1,895,000 Active 57 DOM
3. 2026-06-17
   days on market $1,895,000 Active 56 DOM
4. 2026-06-16
   days on market $1,895,000 Active 55 DOM
5. 2026-06-15
   days on market $1,895,000 Active 54 DOM
6. 2026-06-14
   days on market $1,895,000 Active 52 DOM
7. 2026-06-10
   days on market $1,895,000 Active 49 DOM
8. 2026-06-09
   days on market $1,895,000 Active 48 DOM
9. 2026-06-08
   days on market $1,895,000 Active 47 DOM
10. 2026-06-07
    days on market $1,895,000 Active 46 DOM
11. 2026-06-05
    days on market $1,895,000 Active 43 DOM
12. 2026-06-03
    days on market $1,895,000 Active 42 DOM
13. 2026-06-02
    days on market $1,895,000 Active 41 DOM
14. 2026-06-01
    days on market $1,895,000 Active 40 DOM
15. 2026-05-31
    days on market $1,895,000 Active 39 DOM
16. 2026-05-30
    days on market $1,895,000 Active 38 DOM
17. 2026-04-22
    listed $1,895,000 Active 2366-char remark
18. 2019-12-10
    soldstatus $1,260,909
19. 2014-12-19
    price $1,049,000
20. 2014-12-19
    price $1,049,000
21. 2014-12-19
    price $1,049,000

ⓘ 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: $4,444 · $370/mo
• Projected year-2 tax: $14,402 · $1,200/mo
• Expected delta: +$9,958/yr (+$830/mo · 224.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 2/10 Low 9 d/yr ≥87°F today · 24 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: $187,200
• − Mortgage interest: −$106,149
• − Property taxes: −$4,444
• − Insurance: −$10,272
• − Repairs & maintenance: −$14,976
• − Management: −$14,976
• − Depreciation: −$55,127
• Taxable loss: −$18,746
• Est. tax savings @ 24.0%: +$4,499
• After-tax cash flow: $18,419/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

+80.6% since first listed

5 events — show timeline

• 2026-04-22 Listed $1,895,000 TSMLS
• 2019-12-10 Sold (Public Records) $1,260,909 Public Records
• 2014-12-19 Price Changed $1,049,000 TSMLS
• 2014-12-19 Price Changed $1,049,000 TSMLS
• 2014-12-19 Price Changed $1,049,000 TSMLS

Property tax history

+18.0%/yr

Latest (2025): $4,444 · +12.3% YoY. Source: county tax records.