12488 Trappers Trl Unit F34-52 · Truckee, CA 96161

$29,000

3 bd · None ba · 2,470 sqft · Timeshare · 30 Days on market

$769/mo HOA · 10% 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Enjoy this freshly renovated 3-bed Cabin w/ Murphy Bed office room at Old Greenwood, 1/17 shared ownership, featuring premium New Year's week (Fri-Fri) every year. Dec 31-Jan 7th, 2027) + floating time included. Preferred Access to two Championship golf courses accompany the Tahoe Mountain Club whenever you are in residence, including free shuttle service to Northstar resort and a private members lounge in the Village and private on-mountain restaurant creating a luxury 4-season club ownership experience. Guest can check in unaccompanied and use the amenities. Space Available is open for reservation by Flex, mid-week, and spontaneous reservations. .. . Old Greenwood Cabins – 1/17th Fr

Key facts

• Alpine club
• 2 garage spots
• Community pool

Tags

• MURPHY BED OFFICE ROOM
• PRIVATE ON-MOUNTAIN RESTAURANT
• OLD GREENWOOD PAVILION
• ALPINE CLUB
• SCHAFFER’S CAMP AT NORTHSTAR

Property features AI

Finance

• HOA & community: Quarterly association with amenities including pool, tennis courts, golf course access, cross-country skiing, downhill skiing, exercise equipment, and other community features

Exterior

• Parking: Attached 2-car covered parking
• Home design: Two-level timeshare unit; Located in the Truckee subdivision
• Exterior features: Located on a golf course

Interior

• Interior features: Mountain-style architecture

What this means for you Summary

Snapshot

• This is a 3-bed/?-bath timeshare listed at $29k.

Deal economics

• At list price, monthly cash flow is $5k ($59k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $29k).
• Recommended offer: $29k (1.5% below list) — sets the bar for market timing.
• Cap rate 211.1% 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: 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: Rents rising fast (+6.6%/yr); 381 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 215 units permitted in Nevada County in 2024 (0 in 5+ unit buildings).
• At $7,491/mo this rent would consume 68% of the median local household income ($132k/yr) (locally 559% 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 $200 of loan paydown is wiped out by about $870 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.
• At projected returns (-3.0% appreciation + 6.6% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($29k) is reasonable based on typical stale-listing flexibility.

Recommended offer $28,565 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 25.83% ✓
• Cap rate: 211.06%
• Cash-on-cash: 731.30%
• DSCR: 33.54
• GRM: 0.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 42.76×
• Total profit: $339,088
• Equity at exit: $4,324

10-year hold

• IRR: —
• Equity multiple: 102.89×
• Total profit: $827,341
• Equity at exit: $2,507

Cash invested: $8,120 (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: 0.3×

Monthly cashflow live

• Estimated rent: $7,491 medium
• Mortgage (P&I): −$152
• Tax est. 1.5%: −$36 /mo · $435/yr
• Insurance: −$12
• HOA: −$769
• Vacancy / Maint / Mgmt: −$1,573
• Net cashflow: $4,948

Break-even live

Break-even rent $1,227

Max offer price $29,000

Occupancy floor 29%

Sensitivity live

Price	-10% $4,968	-5% $4,958	+0% $4,948	+5% $4,938	+10% $4,928
Rent	-10% $4,357	-5% $4,653	+0% $4,948	+5% $5,244	+10% $5,540
Rate	-1.0pp $4,963	-0.5pp $4,956	base $4,948	+0.5pp $4,941	+1.0pp $4,933

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: $7,250
• Closing costs: $870
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10175 Annies Loop Truckee, CA	3.0	3.5	2194	$7,500	$3.42	45d	1	0.95mi
10077 Jake S Way Truckee, CA	3.0	3.5	2552	$10,500	$4.11	45d	1	0.96mi
10085 Nicolas Dr Unit A Truckee, CA	3.0	2.5	1871	$5,500	$2.94	45d	1	1.42mi

HOA detail

• Monthly dues: $769 · $9,228/yr

Listing history 17 events

1. 2026-06-21
   days on market $29,000 Active 30 DOM
2. 2026-06-18
   days on market $29,000 Active 27 DOM
3. 2026-06-17
   days on market $29,000 Active 26 DOM
4. 2026-06-16
   days on market $29,000 Active 25 DOM
5. 2026-06-15
   days on market $29,000 Active 24 DOM
6. 2026-06-14
   days on market $29,000 Active 22 DOM
7. 2026-06-10
   days on market $29,000 Active 19 DOM
8. 2026-06-09
   days on market $29,000 Active 18 DOM
9. 2026-06-08
   days on market $29,000 Active 17 DOM
10. 2026-06-07
    days on market $29,000 Active 16 DOM
11. 2026-06-05
    days on market $29,000 Active 13 DOM
12. 2026-06-03
    days on market $29,000 Active 12 DOM
13. 2026-06-02
    days on market $29,000 Active 11 DOM
14. 2026-06-01
    days on market $29,000 Active 10 DOM
15. 2026-05-31
    days on market $29,000 Active 9 DOM
16. 2026-05-30
    days on market $29,000 Active 8 DOM
17. 2026-05-22
    listed $29,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $89,892
• − Mortgage interest: −$1,624
• − Property taxes: −$435
• − Insurance: −$145
• − Repairs & maintenance: −$7,191
• − Management: −$7,191
• − HOA: −$9,228
• − Depreciation: −$844
• Taxable income: $63,233
• Est. tax owed @ 24.0%: −$15,176
• After-tax cash flow: $44,205/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
• 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 (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 (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 · 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: ▼ -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

1 event — show timeline

• 2026-05-22 Listed $29,000 TSMLS