13051 Ritz-carlton Highlands Dr Unit 4405 Share 17

Tahoe Vista, CA 96161-0000

$55,000F

3 bd · 3.5 ba · 1,900 sqft · Built 2008 · Timeshare · Active · 152 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,282/mo
• Mortgage (P&I): −$288
• Tax + insurance: −$92
• HOA: −$2,332
• Vac / Maint / Mgmt: −$269
• Net cashflow: $-1,699/mo
• Annual: $-20,392/yr
• Cap rate: -30.78%
• Cash-on-cash: -132.42%
• DSCR: -4.89
• 1% rule: 2.33%
• Cash to close: $15,400

Investor read

• This is a 3-bed/3.5-bath timeshare listed at $55k.
• At list price, monthly cash flow is $-2k ($-20k/yr) — negative.
• Rent doesn't cover operating costs at any purchase price — skip.
• Meets the 1% rule at list price ($1k rent vs $55k).
• It's been on market 152 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($380 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads 52/100 on livability (#1,011 in CA) — a working-class tenant base; expect higher turnover. Strengths: crime A+, employment A+; 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: Truckee Elementary (math 33% / reading 45%, grade F, #656 of 1,571 statewide, top 42%, 451 students, 52% 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) — zoned schools at 34% FRL track the district average.
• Watch-outs: HOA is 182% of rent.
• Market conditions: 55 active listings in the ZIP; 3,535 units permitted in Placer County in 2024 (689 in 5+ unit buildings).
• Placer County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $14k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate -30.8% vs local median 1.7% in Tahoe Vista — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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?
• It's been on market 152 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.