1399 Kirkwood Meadows Dr Unit D309 · Kirkwood, CA 95646

$12,500

1 bd · 2.0 ba · 660 sqft · Condo · 119 Days on market

Built 1999 $19/sqft · 52% below area $827/mo HOA · 90% 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
• Appreciation +5.0/10.0
• Schools +4.2/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

True Ski-In/Ski-Out Studio + Loft Bedroom in the Heart of KirkwoodDoors 309 - Quarter Share IV. Own a prime piece of Kirkwood with this true ski-in/ski-out 1/4 share fee-simple ownership, offering 13 weeks per year and resort-class amenities. Located in the ultimate central spot, this property is just steps from 5 chair lifts and the Village Plaza, with a living room balcony that offers intimate views of Kirkwood's vibrant core. This fully furnished, spacious Studio + loft bedroom unit sleeps up to 4 guests, featuring a queen bed and a sofa sleeper. The Mountain Club amenities include a fitness room, hot tub and sauna, and laundry facilities on each floor for added convenience. Utilities, maintenance, and building insurance are all included in the dues. As a quarter-share owner, you'll have access to your own parking space and ski locker in the underground garage, plus a locked cabinet for personal belongings within the property. Additionally, an optional membership with Interval International provides access to worldwide vacation exchanges. Kirkwood Community Association (KCA) Membership offers exclusive access to pool-side activities, hot tubs, fitness equipment, steam & sauna rooms, and private events. It's customary for buyers to pay a 3% RETF fee for KCA membership. Ask about space available and maximize your time in Kirkwood during periods when the building has lower occupancy! Come for the winter fun, stay for the summer retreat!Every 4 years, you get the entire 2 weeks over Christmas break!Experience the best of Kirkwood with this turnkey, hassle-free ownership opportunity! * Unit is a Mirror of MC325, These photos are mirrored copies from MC325.

Key facts

• Hot tub
• Sauna
• Living room balcony

Tags

• SKI-IN SKI-OUT
• LIVING ROOM BALCONY
• MOUNTAIN CLUB AMENITIES
• FITNESS ROOM
• HOT TUB
• SAUNA

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath condo listed at $12k.

Deal economics

• At list price, monthly cash flow is $-185 ($-2k/yr) — negative.
• Rent doesn't cover operating costs at any purchase price — skip.
• Meets the 1% rule at list price ($922 rent vs $12k).
• Recommended offer: $11k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#575 in CA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: health & safety C-, crime F, amenities F.
• Alpine County Unified (rural): math 40% / reading 50% proficiency, ranked #546 of 1,400 in CA (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Diamond Valley Elementary (math 34% / reading 54%, grade F, #496 of 1,571 statewide, top 34%, 61 students, 69% FRL) — zoned schools average 69% FRL vs 50% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 34 active listings in the ZIP; 3 units permitted in Alpine County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $461 of equity ($86 loan paydown + $375 appreciation (3.0% local appreciation)).
• Alpine County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($11k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 90% of rent.

Recommended offer $11,375 (9.0% below list)

Questions for the listing agent

1. 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?
2. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. 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?
10. 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.
11. 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.
12. 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: 7.37% ✓
• Cap rate: -11.50%
• Cash-on-cash: -63.56%
• DSCR: -1.83
• GRM: 1.1

CMA / ARV

• ARV (median comp): $26,196
• List price: $12,500
• Delta: -52.28%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -45.6%
• Equity multiple: -1.79×
• Total profit: $-9,779
• Equity at exit: $5,621

10-year hold

• IRR: -27.3%
• Equity multiple: -4.01×
• Total profit: $-17,547
• Equity at exit: $8,662

Cash invested: $3,500 (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 95646

• Active inventory: 34
• Price-to-rent: 1.1×

Monthly cashflow live

• Estimated rent: $922 medium
• Mortgage (P&I): −$66
• Tax est. 1.5%: −$16 /mo · $188/yr
• Insurance: −$5
• HOA: −$827
• Vacancy / Maint / Mgmt: −$194
• Net cashflow: $-185

Break-even live

Break-even rent $1,156

Max offer price —

Occupancy floor —

Sensitivity live

Price	-10% $-177	-5% $-181	+0% $-185	+5% $-190	+10% $-194
Rent	-10% $-258	-5% $-222	+0% $-185	+5% $-149	+10% $-113
Rate	-1.0pp $-179	-0.5pp $-182	base $-185	+0.5pp $-189	+1.0pp $-192

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: $3,125
• Closing costs: $375
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $827 · $9,924/yr
• Likely covers: insurancepool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-21
   days on market $12,500 Active 119 DOM
2. 2026-06-18
   days on market $12,500 Active 116 DOM
3. 2026-06-17
   days on market $12,500 Active 115 DOM
4. 2026-06-16
   days on market $12,500 Active 114 DOM
5. 2026-06-15
   days on market $12,500 Active 113 DOM
6. 2026-06-13
   days on market $12,500 Active 111 DOM
7. 2026-06-13
   days on market $12,500 Active 110 DOM
8. 2026-06-09
   days on market $12,500 Active 107 DOM
9. 2026-06-08
   days on market $12,500 Active 106 DOM
10. 2026-06-07
    days on market $12,500 Active 105 DOM
11. 2026-06-05
    days on market $12,500 Active 102 DOM
12. 2026-06-03
    days on market $12,500 Active 101 DOM
13. 2026-06-02
    days on market $12,500 Active 100 DOM
14. 2026-06-01
    days on market $12,500 Active 99 DOM
15. 2026-05-31
    days on market $12,500 Active 98 DOM
16. 2026-02-23
    listed $12,500 Active 1688-char remark

    Show marketing remark (1688 chars)

    True Ski-In/Ski-Out Studio + Loft Bedroom in the Heart of KirkwoodDoors 309 - Quarter Share IV. Own a prime piece of Kirkwood with this true ski-in/ski-out 1/4 share fee-simple ownership, offering 13 weeks per year and resort-class amenities. Located in the ultimate central spot, this property is just steps from 5 chair lifts and the Village Plaza, with a living room balcony that offers intimate views of Kirkwood's vibrant core. This fully furnished, spacious Studio + loft bedroom unit sleeps up to 4 guests, featuring a queen bed and a sofa sleeper. The Mountain Club amenities include a fitness room, hot tub and sauna, and laundry facilities on each floor for added convenience. Utilities, maintenance, and building insurance are all included in the dues. As a quarter-share owner, you'll have access to your own parking space and ski locker in the underground garage, plus a locked cabinet for personal belongings within the property. Additionally, an optional membership with Interval International provides access to worldwide vacation exchanges. Kirkwood Community Association (KCA) Membership offers exclusive access to pool-side activities, hot tubs, fitness equipment, steam & sauna rooms, and private events. It's customary for buyers to pay a 3% RETF fee for KCA membership. Ask about space available and maximize your time in Kirkwood during periods when the building has lower occupancy! Come for the winter fun, stay for the summer retreat!Every 4 years, you get the entire 2 weeks over Christmas break!Experience the best of Kirkwood with this turnkey, hassle-free ownership opportunity! * Unit is a Mirror of MC325, These photos are mirrored copies from MC325.

ⓘ 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: $11,058
• − Mortgage interest: −$700
• − Property taxes: −$188
• − Insurance: −$62
• − Repairs & maintenance: −$885
• − Management: −$885
• − HOA: −$9,924
• − Depreciation: −$364
• Taxable loss: −$1,949
• Est. tax savings @ 24.0%: +$468
• After-tax cash flow: $-1,757/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: Alpine County Unified
• NCES district ID: 0602070
• Math proficiency: 40% ▼ -20.00%
• Reading proficiency: 50% ▬ 0.00%
• Median HH income: $58,116
• Composite: 41.62/100
• National rank: #7228
• State rank: #546 of 1400 in CA

Livability — Kirkwood

• Score: 60/100
• State rank: #575
• US rank: #18791

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kirkwood, CA
• Population (ZIP): 406

Population outlook (Alpine County) Hauer SSP2

• Today (2025): 1,025 people
• By 2030: 995 · -2.9%
• By 2040: 954 · -6.9%
• By 2050: 952 · -7.1%
• By 2075: 1,169 · +14.0%
• By 2100: 1,675 · +63.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 27% Two or more races 19%
• Hispanic origin (detail): Mexican 10% Salvadoran 2%
• Common ancestry: Lithuanian 12% Scotch-Irish 7% Subsaharan African 3%
• Foreign-born: 25% · Canada, Jamaica
• Languages at home: 53% English-only · Spanish 31% French/Haitian/Cajun 15%

Political lean MEDSL · Alpine

• 2024 margin: Solid D (+32.0) · D 64.9% · R 32.9% · Other 2.2%
• 2008→2024 swing: +7.4pp toward D · 2008: 24.6pp · 2024: 32.0pp
• All cycles: 2024: D+32.0 2020: D+31.3 2016: D+18.6 2012: D+23.6 2008: D+24.6

Not yet ingested

• 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

1 event — show timeline

• 2026-02-23 Listed $12,500 STARMLS