10365 Dalewood Way · Alta Sierra, CA 95949

$179,000

2 bd · 2.0 ba · 4,004 sqft · Manufactured public records · 398 Days on market

Built 1988 3,415 sqft lot $188/mo HOA · 9% of rent

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Why this score? — see what drove the C+ 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 +26.5/30.0
• DSCR +9.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Schools +3.8/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Stop and smell the roses at this 55+ Grass Valley community! Ponderosa Pines is the sought-after 55+ park in Nevada County and is conveniently located less than 10 minutes from Grass Valley. The monthly cost to this home is greatly reduced ( $218 vs Without a share the fee is about double owner share offered at $48,000 (NEGOTIABLE) Ponderosa Pines offers numerous park amenities like a pool, clubhouse, events & activities, RV parking & friendly neighbors. This warm friendly home features a great room concept, 2 bedrooms, 2 full baths, separate laundry with washer and drier, covered 2 carport with shed, central heat & air The master suite is at the back of the house with s

Key facts

• Clubhouse
• Rv parking
• Great room concept

Tags

• PONDEROSA PINES
• PARK AMENITIES
• POOL
• CLUBHOUSE
• RV PARKING
• GREAT ROOM CONCEPT

Property features AI

Finance

• Financial info: Land lease: No (monthly land-lease amount listed separately)
• HOA & community: Mandatory association with monthly fee; Association amenities include pool, clubhouse, game room, guest parking, and park interview; Association fee paid monthly

Exterior

• Parking: Covered parking; Guest parking available
• Utilities: Propane and individual electric meter; 220 volts in kitchen; 220 volts in laundry; Public water; Septic sewer
• Home design: Manufactured home (double wide); Built in 1988
• Construction: Composition roof; Wood skirting; Silvercrest manufactured home
• Exterior features: Covered porch awning / covered deck; Storage area / outbuilding; Garden with automatic sprinklers

Interior

• Kitchen: Free-standing gas range; Free-standing electric range; Dishwasher; Disposal; Laminate counters
• Bedrooms: 2 bedrooms (including master bedroom)
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms; Skylight/solar tube in bath; Tub with shower over
• Heating & cooling: Central cooling; Central heating; Propane heating; Gas water heater
• Interior features: Cathedral ceiling; Skylights; Covered deck / porch awning; Dual-pane windows; Storage area / outbuilding
• Laundry & utility: Washer and dryer included; Laundry closet / inside laundry room; Electric hookup (220V in laundry)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $179k.

Deal economics

• At list price, monthly cash flow is $474 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $179k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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.
• Nevada Joint Union High (town): math 25% / reading 61% proficiency, ranked #201 of 517 in CA (top 39%) — 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 $1k of loan paydown is wiped out by about $5k 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 + 3.0% rent growth), your $50k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 398 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $157,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 398 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. 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.
7. 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.
8. 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: 1.23% ✓
• Cap rate: 9.47%
• Cash-on-cash: 11.34%
• DSCR: 1.50
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 0.6%
• Equity multiple: 1.02×
• Total profit: $1,216
• Equity at exit: $26,689

10-year hold

• IRR: 10.3%
• Equity multiple: 1.80×
• Total profit: $40,115
• Equity at exit: $15,477

Cash invested: $50,120 (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 95949

• Home prices YoY: -34.7%
• Active inventory: 252
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $2,202 medium
• Mortgage (P&I): −$939
• Tax from tax record: −$64 /mo · $774/yr
• Insurance: −$75
• HOA: −$188
• Vacancy / Maint / Mgmt: −$462
• Net cashflow: $474

Break-even live

Break-even rent $1,602

Max offer price $179,000

Occupancy floor 73%

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $188 · $2,256/yr
• Likely covers: pool

Listing history 5 events

1. 2026-06-05
   days on market $179,000 Active 398 DOM
2. 2026-06-03
   days on market $179,000 Active 397 DOM
3. 2026-06-02
   days on market $179,000 Active 396 DOM
4. 2026-06-01
   days on market $179,000 Active 395 DOM
5. 2026-05-31
   days on market $179,000 Active 394 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: $774 · $64/mo
• Projected year-2 tax: $1,360 · $113/mo
• Expected delta: +$586/yr (+$49/mo · 75.8%)

ⓘ 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 10/10 Extreme
• 🌡 Heat 5/10 Major 7 d/yr ≥96°F today · 16 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: $26,422
• − Mortgage interest: −$10,027
• − Property taxes: −$774
• − Insurance: −$895
• − Repairs & maintenance: −$2,114
• − Management: −$2,114
• − HOA: −$2,256
• − Depreciation: −$5,207
• Taxable income: $3,036
• Est. tax owed @ 24.0%: −$729
• After-tax cash flow: $4,956/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: Nevada Joint Union High
• NCES district ID: 0626880
• Math proficiency: 25% ▼ -14.00%
• Reading proficiency: 61% ▼ -7.00%
• Median HH income: $57,336
• Composite: 37.53/100
• National rank: #4393
• State rank: #201 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

-0.2%/yr

Latest (2025): $774 · +2.4% YoY. Source: county tax records.