237 Basque #2 · Truckee, CA 96161

$359,000

4 bd · 3.0 ba · 2,816 sqft · Timeshare · 565 Days on market

Built 1997 0.28 ac lot $127/sqft · 77% below area ↓ 6% since listing

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Why this score? — see what drove the B 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Rent growth +4.1/5.0
• Livability +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

New co-ownership opportunity: Own one-eighth of this professionally managed, turnkey home by Pacaso. What’s better than a mountain cabin near Lake Tahoe? The laid-back luxury of this fully remodeled 4-bedroom, 3-bathroom retreat with views of the Martis Valley. This fully remodeled, custom-built Northstar home is conveniently located between Truckee and the lake and includes the coveted Northstar HOA amenities; outdoor pools, kids area, tennis courts, and fitness center. Backing to a private green space, this three-level home has a bright, open concept great room with a window wall, a soaring wood ceiling and an inviting stone fireplace. A spacious dining area and large decks are perfect for enjoying meals prepared on the professional-grade range in the sleek gourmet kitchen. The home includes two relaxing primary suites with spa-like en suite bathrooms, two guest bedrooms and a laundry area. The home comes fully furnished and professionally decorated.

Key facts

• 0.28 acre lot
• 2 garage spots
• Built 1997

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath timeshare listed at $359k.

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 ($5k rent vs $359k).
• Recommended offer: $316k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.9% vs local median 2.1% 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: 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.
• Market conditions: Rents rising fast (+6.6%/yr); 381 active listings in the ZIP; high-income renter base; 3,535 units permitted in Placer County in 2024 (689 in 5+ unit buildings).
• This rent runs 45% of the median local income ($132k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Placer County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 6.6% rent growth), your $101k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 565 days — a 12% lower offer ($316k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $30k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $315,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 565 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 1.37% ✓
• Cap rate: 10.94%
• Cash-on-cash: 16.60%
• DSCR: 1.74
• GRM: 6.1

CMA / ARV

• ARV (median comp): $1,546,599
• List price: $359,000
• Delta: -76.79%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.59% rent growth · sell at horizon

5-year hold

• IRR: 11.7%
• Equity multiple: 1.49×
• Total profit: $48,807
• Equity at exit: $53,528

10-year hold

• IRR: 23.4%
• Equity multiple: 3.37×
• Total profit: $237,877
• Equity at exit: $31,040

Cash invested: $100,520 (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

• Rents YoY: 6.6%
• Active inventory: 381
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $4,901 medium
• Mortgage (P&I): −$1,883
• Tax est. 1.5%: −$449 /mo · $5,385/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,029
• Net cashflow: $1,391

Break-even live

Break-even rent $3,140

Max offer price $359,000

Occupancy floor 67%

Sensitivity live

Price	-10% $1,639	-5% $1,515	+0% $1,391	+5% $1,267	+10% $1,142
Rent	-10% $1,003	-5% $1,197	+0% $1,391	+5% $1,584	+10% $1,778
Rate	-1.0pp $1,571	-0.5pp $1,482	base $1,391	+0.5pp $1,298	+1.0pp $1,203

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: $89,750
• Closing costs: $10,770
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-21
   days on market $359,000 Active 565 DOM
2. 2026-06-18
   days on market $359,000 Active 562 DOM
3. 2026-06-17
   days on market $359,000 Active 561 DOM
4. 2026-06-16
   days on market $359,000 Active 560 DOM
5. 2026-06-15
   days on market $359,000 Active 559 DOM
6. 2026-06-14
   days on market $359,000 Active 557 DOM
7. 2026-06-10
   days on market $359,000 Active 554 DOM
8. 2026-06-09
   days on market $359,000 Active 553 DOM
9. 2026-06-08
   days on market $359,000 Active 552 DOM
10. 2026-06-07
    days on market $359,000 Active 551 DOM
11. 2026-06-05
    days on market $359,000 Active 548 DOM
12. 2026-06-03
    days on market $359,000 Active 547 DOM
13. 2026-06-02
    days on market $359,000 Active 546 DOM
14. 2026-06-01
    days on market $359,000 Active 545 DOM
15. 2026-05-31
    days on market $359,000 Active 544 DOM
16. 2026-05-30
    days on market $359,000 Active 543 DOM
17. 2026-03-05
    price $359,000 972-char remark

    Show marketing remark (972 chars)

    New co-ownership opportunity: Own one-eighth of this professionally managed, turnkey home by Pacaso. What’s better than a mountain cabin near Lake Tahoe? The laid-back luxury of this fully remodeled 4-bedroom, 3-bathroom retreat with views of the Martis Valley. This fully remodeled, custom-built Northstar home is conveniently located between Truckee and the lake and includes the coveted Northstar HOA amenities; outdoor pools, kids area, tennis courts, and fitness center. Backing to a private green space, this three-level home has a bright, open concept great room with a window wall, a soaring wood ceiling and an inviting stone fireplace. A spacious dining area and large decks are perfect for enjoying meals prepared on the professional-grade range in the sleek gourmet kitchen. The home includes two relaxing primary suites with spa-like en suite bathrooms, two guest bedrooms and a laundry area. The home comes fully furnished and professionally decorated.

18. 2026-02-18
    status Active 972-char remark

    Show marketing remark (972 chars)

    New co-ownership opportunity: Own one-eighth of this professionally managed, turnkey home by Pacaso. What’s better than a mountain cabin near Lake Tahoe? The laid-back luxury of this fully remodeled 4-bedroom, 3-bathroom retreat with views of the Martis Valley. This fully remodeled, custom-built Northstar home is conveniently located between Truckee and the lake and includes the coveted Northstar HOA amenities; outdoor pools, kids area, tennis courts, and fitness center. Backing to a private green space, this three-level home has a bright, open concept great room with a window wall, a soaring wood ceiling and an inviting stone fireplace. A spacious dining area and large decks are perfect for enjoying meals prepared on the professional-grade range in the sleek gourmet kitchen. The home includes two relaxing primary suites with spa-like en suite bathrooms, two guest bedrooms and a laundry area. The home comes fully furnished and professionally decorated.

19. 2026-02-18
    historical 972-char remark

    Show marketing remark (972 chars)

    New co-ownership opportunity: Own one-eighth of this professionally managed, turnkey home by Pacaso. What’s better than a mountain cabin near Lake Tahoe? The laid-back luxury of this fully remodeled 4-bedroom, 3-bathroom retreat with views of the Martis Valley. This fully remodeled, custom-built Northstar home is conveniently located between Truckee and the lake and includes the coveted Northstar HOA amenities; outdoor pools, kids area, tennis courts, and fitness center. Backing to a private green space, this three-level home has a bright, open concept great room with a window wall, a soaring wood ceiling and an inviting stone fireplace. A spacious dining area and large decks are perfect for enjoying meals prepared on the professional-grade range in the sleek gourmet kitchen. The home includes two relaxing primary suites with spa-like en suite bathrooms, two guest bedrooms and a laundry area. The home comes fully furnished and professionally decorated.

20. 2025-03-21
    price $370,000 972-char remark

    Show marketing remark (972 chars)

    New co-ownership opportunity: Own one-eighth of this professionally managed, turnkey home by Pacaso. What’s better than a mountain cabin near Lake Tahoe? The laid-back luxury of this fully remodeled 4-bedroom, 3-bathroom retreat with views of the Martis Valley. This fully remodeled, custom-built Northstar home is conveniently located between Truckee and the lake and includes the coveted Northstar HOA amenities; outdoor pools, kids area, tennis courts, and fitness center. Backing to a private green space, this three-level home has a bright, open concept great room with a window wall, a soaring wood ceiling and an inviting stone fireplace. A spacious dining area and large decks are perfect for enjoying meals prepared on the professional-grade range in the sleek gourmet kitchen. The home includes two relaxing primary suites with spa-like en suite bathrooms, two guest bedrooms and a laundry area. The home comes fully furnished and professionally decorated.

21. 2024-12-03
    listed $389,000 Active 972-char remark

    Show marketing remark (972 chars)

    New co-ownership opportunity: Own one-eighth of this professionally managed, turnkey home by Pacaso. What’s better than a mountain cabin near Lake Tahoe? The laid-back luxury of this fully remodeled 4-bedroom, 3-bathroom retreat with views of the Martis Valley. This fully remodeled, custom-built Northstar home is conveniently located between Truckee and the lake and includes the coveted Northstar HOA amenities; outdoor pools, kids area, tennis courts, and fitness center. Backing to a private green space, this three-level home has a bright, open concept great room with a window wall, a soaring wood ceiling and an inviting stone fireplace. A spacious dining area and large decks are perfect for enjoying meals prepared on the professional-grade range in the sleek gourmet kitchen. The home includes two relaxing primary suites with spa-like en suite bathrooms, two guest bedrooms and a laundry area. The home comes fully furnished and professionally decorated.

22. 2024-11-26
    status Pending
23. 2024-11-26
    soldstatus $373,000 Sold
24. 2024-11-16
    status Pending
25. 2024-11-15
    historical Contingent (Show)
26. 2024-06-23
    price $373,000
27. 2024-06-20
    listed $383,000 Active
28. 2024-06-20
    listed $373,000 Active

ⓘ 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 7 d/yr ≥84°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 14 unhealthy d/yr today · 15 by 30 yrs out

Taxation est. · year 1

• Rental income: $58,809
• − Mortgage interest: −$20,110
• − Property taxes: −$5,385
• − Insurance: −$1,795
• − Repairs & maintenance: −$4,705
• − Management: −$4,705
• − Depreciation: −$10,444
• Taxable income: $11,666
• Est. tax owed @ 24.0%: −$2,800
• After-tax cash flow: $13,887/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

• County: Nevada County · 85,339 people
• City population: 19,634
• Metro: Truckee-Grass Valley, CA
• Population (ZIP): 19,634
• Household income: $131,702
• Rent vs Own: 24.1% rent · 75.9% own
• Severe rent burden: 559.0

Population outlook (Placer County) Hauer SSP2

• Today (2025): 422,709 people
• By 2030: 444,249 · +5.1%
• By 2040: 480,192 · +13.6%
• By 2050: 506,390 · +19.8%
• By 2075: 550,219 · +30.2%
• By 2100: 547,760 · +29.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 12% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 5% Lithuanian 4% Portuguese 3%
• Foreign-born: 10% · Canada, Jamaica, Dominican Republic
• Languages at home: 85% English-only · Spanish 10% French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Placer

• 2024 margin: Lean R (+8.5) · D 44.3% · R 52.8% · Other 2.9%
• 2008→2024 swing: +2.8pp toward D · 2008: -11.3pp · 2024: -8.5pp
• All cycles: 2024: R+8.5 2020: R+6.7 2016: R+11.3 2012: R+20.1 2008: R+11.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -307.87%
• Current HPI: 336.9632
• Rent YoY: ▲ 6.59%
• 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

Price history

-6.3% since first listed

12 events — show timeline

• 2026-03-05 Price Changed $359,000 TSMLS
• 2026-02-18 Relisted — TSMLS
• 2026-02-18 Delisted — TSMLS
• 2025-03-21 Price Changed $370,000 TSMLS
• 2024-12-03 Listed $389,000 TSMLS
• 2024-11-26 Pending — BAREIS
• 2024-11-26 Sold (MLS) $373,000 TSMLS
• 2024-11-16 Pending — TSMLS
• 2024-11-15 Contingent — BAREIS
• 2024-06-23 Price Changed $373,000 TSMLS
• 2024-06-20 Listed $373,000 BAREIS
• 2024-06-20 Listed $383,000 TSMLS