13940 Meda Dr #96 · Alta Sierra, CA 95949

$72,000

2 bd · 2.0 ba · 924 sqft · Manufactured · 172 Days on market

Built 1988 2,844 sqft lot Est $60k · 20% over $1095/mo HOA · 54% of rent

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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 +19.5/30.0
• 1% rule +10.0/10.0
• DSCR +6.2/10.0
• Schools +3.7/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Tall Pines Mobile Home Park, one of the few all-ages mobile home communities in Grass Valley offering comfortable and affordable living in a convenient location. If you've been searching for a move-in ready 2 bedroom, 2 bath manufactured home with privacy, outdoor space, and easy Highway 49 access, this one checks the boxes. Situated on a desirable corner lot, this well-maintained single-wide home features a smart split-bedroom floor plan with bedrooms located on opposite ends, ideal for families, guests, or roommates who appreciate separation of space. The open-concept living area feels bright and inviting, and the freestanding wood stove adds cozy Sierra foothill charm during t

Key facts

• New carpet
• New interior paint
• Corner lot

Tags

• OPEN-CONCEPT LIVING AREA
• FREESTANDING WOOD STOVE
• SPLIT-BEDROOM FLOOR PLAN
• NEW INTERIOR PAINT
• NEW CARPET
• CORNER LOT

Property features AI

Finance

• Other: Address: 13940 Meda Dr #96, Grass Valley, CA 95949; Directions available to property
• HOA & community: Mandatory association with monthly fee; Monthly association fee of $1,095 includes grounds maintenance; Community amenities: pool, clubhouse, guest parking

Exterior

• Parking: Off-street parking; Attached covered parking
• Utilities: Propane; Gas plumbed; Internet available; Private water; Septic system
• Home design: Manufactured home in park (single wide); Built in 1988
• Construction: Wood skirting; Composition roof; Manufactured by Skyline (Knollwood model)
• Exterior features: Storage shed(s); Close to clubhouse; Corner lot with front yard; Garden

Interior

• Kitchen: Free-standing gas range; Free-standing refrigerator; Range hood; Dishwasher; Garbage disposal; Microwave; Ceramic, stone and laminate counters; Dining space in kitchen
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Laminate; Wood
• Bathrooms: 2 full bathrooms; Tubs with shower over
• Heating & cooling: Central heating; Propane heating; Wood stove heating; Ceiling fans; Evaporative cooler
• Interior features: One wood-burning free-standing wood stove; Cathedral/vaulted great room; Porch with steps and railing; Uncovered deck; Storage area (interior access); Pets allowed (cats and dogs; number limit)
• Laundry & utility: Laundry closet inside; 220V in laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $72k.

Deal economics

• At list price, monthly cash flow is $81 ($978/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $72k).
• Recommended offer: $63k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 3.4% in Alta Sierra — 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 59/100 on livability (#662 in CA) — a working-class tenant base; expect higher turnover. Strengths: employment A+, housing A+; Watch: crime C-, schools D+, amenities F.
• Pleasant Ridge Union Elementary (rural): math 33% / reading 49% proficiency, ranked #214 of 517 in CA (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 252 active listings in the ZIP; solid renter incomes; 215 units permitted in Nevada County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $498 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Nevada County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 172 days — a 12% lower offer ($63k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 54% of rent.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $63,360 (12.0% below list)

Questions for the listing agent

1. It's been on market 172 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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.

Investment metrics

• 1% rule: 2.81% ✓
• Cap rate: 7.65%
• Cash-on-cash: 4.85%
• DSCR: 1.22
• GRM: 3.0

CMA / ARV

• ARV (on-the-fly): $60,060
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14338 State Highway 49 #71	0.17mi	2/1.0	860 (-7%)	14mo	$67,500	$78	65
13894 Golden Star Rd	0.09mi	3/2.0 (+1)	1,056 (+14%)	6mo	$44,000	$42	62
14338 State Highway 49 #67	0.20mi	2/1.0	1,062 (+15%)	2mo	$54,900	$52	60
14338 State Highway 49 #19	0.27mi	2/1.0	800 (-13%)	5mo	$52,000	$65	57
14338 State Hwy 49 #51	0.27mi	2/1.0	800 (-13%)	22mo	$57,000	$71	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -7.8%
• Equity multiple: 0.71×
• Total profit: $-5,822
• Equity at exit: $10,735

10-year hold

• IRR: 2.8%
• Equity multiple: 1.21×
• Total profit: $4,281
• Equity at exit: $6,225

Cash invested: $20,160 (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 95949

• Home prices YoY: -34.7%
• Active inventory: 252
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $2,024 medium
• Mortgage (P&I): −$378
• Tax from tax record: −$15 /mo · $175/yr
• Insurance: −$30
• HOA: −$1,095
• Vacancy / Maint / Mgmt: −$425
• Net cashflow: $81

Break-even live

Break-even rent $1,920

Max offer price $72,000

Occupancy floor 91%

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: $18,000
• Closing costs: $2,160
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $1,095 · $13,140/yr

Listing history 16 events

1. 2026-06-19
   days on market $72,000 Active 172 DOM
2. 2026-06-18
   days on market $72,000 Active 171 DOM
3. 2026-06-17
   days on market $72,000 Active 170 DOM
4. 2026-06-16
   days on market $72,000 Active 169 DOM
5. 2026-06-15
   days on market $72,000 Active 168 DOM
6. 2026-06-13
   days on market $72,000 Active 166 DOM
7. 2026-06-13
   days on market $72,000 Active 165 DOM
8. 2026-06-10
   days on market $72,000 Active 163 DOM
9. 2026-06-09
   days on market $72,000 Active 162 DOM
10. 2026-06-08
    days on market $72,000 Active 161 DOM
11. 2026-06-07
    pricedays on market $72,000 Active 160 DOM
12. 2026-06-05
    days on market $79,000 Active 157 DOM
13. 2026-06-03
    days on market $79,000 Active 156 DOM
14. 2026-06-02
    days on market $79,000 Active 155 DOM
15. 2026-06-01
    days on market $79,000 Active 154 DOM
16. 2026-05-31
    days on market $79,000 Active 153 DOM

ⓘ 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: $175 · $15/mo
• Projected year-2 tax: $547 · $46/mo
• Expected delta: +$373/yr (+$31/mo · 213.3%)

ⓘ 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 9/10 Extreme
• 🌡 Heat 5/10 Major 7 d/yr ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 33 unhealthy d/yr today · 40 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,282
• − Mortgage interest: −$4,033
• − Property taxes: −$175
• − Insurance: −$360
• − Repairs & maintenance: −$1,943
• − Management: −$1,943
• − HOA: −$13,140
• − Depreciation: −$2,095
• Taxable income: $595
• Est. tax owed @ 24.0%: −$143
• After-tax cash flow: $835/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: Pleasant Ridge Union Elementary
• NCES district ID: 0630930
• Math proficiency: 33% ▼ -6.00%
• Reading proficiency: 49% ▬ 0.00%
• Median HH income: $65,524
• Composite: 36.75/100
• National rank: #4580
• State rank: #214 of 517 in CA

Livability — Alta Sierra

• Score: 59/100
• State rank: #662
• US rank: #20497

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Nevada County · 85,339 people
• Metro: Truckee-Grass Valley, CA
• Population (ZIP): 20,552
• Household income: $98,181
• Rent vs Own: 12.9% rent · 87.1% own
• Severe rent burden: 181.0

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 8% Two or more races 8% Native American 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Lithuanian 4% Italian 4% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 1%

Political lean MEDSL · Nevada

• 2024 margin: D (+12.2) · D 54.4% · R 42.1% · Other 3.5%
• 2008→2024 swing: +6.9pp toward D · 2008: 5.3pp · 2024: 12.2pp
• All cycles: 2024: D+12.2 2020: D+14.8 2016: D+4.5 2012: R+4.7 2008: D+5.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -122.41%
• Current HPI: 230.2373
• Rent YoY: —
• Metro: Truckee-Grass Valley, 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

Property tax history

+6.8%/yr

Latest (2025): $175 · +0.2% YoY. Source: county tax records.