3737 Terrace Dr · South Lake Tahoe, CA 96150

$275,000

5 bd · 4.0 ba · 3,168 sqft · SingleFamily public records · 29 Days on market

Built 1967 ↓ 53% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.5/10.0
• Rent growth +3.4/5.0
• Livability +3.2/5.0
• 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. This designer-remodeled, three-level home is surrounded by natural beauty. The updated exterior features redwood and slate accents, IPE and slate decking, redwood railings, and a new metal roof. Inside, oak and mahogany flooring is newly installed throughout. The top-level great room includes a living room with a floor-to-ceiling concrete fireplace and doors leading to an expansive slate deck. The adjoining kitchen, with quartz countertops, and the dining area showcase wood ceilings with exposed rafters. The middle level features the main entry, a large family/flex room, three generously sized bedrooms, and two bathrooms. The bottom level includes two new primary en-suite bedrooms and a laundry room. The bathrooms are finished with porcelain and marble tilework and heated floors. One of the primary bedrooms has a sliding glass door leading to a deck and hot tub, offering a serene outdoor experience. The home comes fully furnished and professionally designed.

Key facts

• Turnkey home
• Built 1967
• Listed 29 days

Tags

• CO-OWNERSHIP OPPORTUNITY
• PROFESSIONALLY MANAGED
• TURNKEY HOME
• EXTENSIVE INTERIOR UPDATES
• EXTENSIVE EXTERIOR UPDATES
• MATURE NATURAL LANDSCAPING

Property features AI

Exterior

• Parking: Carport; Parking pad; Additional parking (other)
• Security: Security system
• Home design: Three levels; Updated/remodeled; Timeshare property; Views of trees/woods and mountains
• Construction: Other architectural style
• Exterior features: Two decks; Hot tub; Street access

Interior

• Kitchen: Range; Oven; Microwave; Disposal; Dishwasher; Refrigerator
• Bedrooms: Bedrooms include two ensuite layouts
• Flooring: Mixed flooring; Stone; Wood
• Bathrooms: Two ensuite bathrooms
• Heating & cooling: Air conditioning
• Interior features: Family room; Formal dining; Two ensuite bathrooms; Fireplace in the living room; Central A/C
• Laundry & utility: Dedicated laundry room; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 5-bed/4.0-bath single-family listed at $275k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $275k).
• Recommended offer: $271k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.7% vs local median 2.5% in South Lake Tahoe — 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 65/100 on livability (#371 in CA) — a middle-class / working-renter tenant base. Strengths: health & safety A+; Watch: schools D-, crime F, commute F.
• Lake Tahoe Unified (town): math 33% / reading 43% proficiency, ranked #786 of 1,400 in CA (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.6%/yr); 307 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 437 units permitted in El Dorado County in 2024 (0 in 5+ unit buildings).
• At $4,278/mo this rent would consume 55% of the median local household income ($93k/yr) (locally 1109% 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 $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• El Dorado County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.6% rent growth), your $77k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($271k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 21y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

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

Recommended offer $270,875 (1.5% below list)

Questions for the listing agent

1. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.56% ✓
• Cap rate: 12.75%
• Cash-on-cash: 23.06%
• DSCR: 2.03
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $1,571,328
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3737 Terrace Dr	0.00mi	5/4.0	3,168 (0%)	11mo	$265,000	$84	91
3737 Terrace Dr Unit Share B	0.00mi	5/4.0	3,168 (0%)	11mo	$260,000	$82	91
3737 Terrace Dr #2	0.00mi	5/4.0	3,168 (0%)	17mo	$255,000	$80	86
1322 Knoll Ln	0.06mi	5/3.5	2,887 (-9%)	2mo	$1,589,500	$551	79
1313 Knoll Ln	0.08mi	5/3.0	2,786 (-12%)	8mo	$1,885,000	$677	66
1321 Wildwood Ave	0.21mi	4/3.0 (-1)	3,432 (+8%)	3mo	$2,080,000	$606	65
1450 Frontier	0.48mi	4/4.5 (-1)	3,421 (+8%)	1mo	$2,388,000	$698	57
1305 Peninsula Rd	0.46mi	4/3.5 (-1)	3,098 (-2%)	16mo	$1,570,000	$507	55
1308 Angora Lake Rd	0.66mi	5/4.0	2,939 (-7%)	9mo	$1,275,000	$434	50
3582 Mackedie Way	0.44mi	4/3.5 (-1)	2,712 (-14%)	2mo	$1,275,000	$470	47
1351 Susie Lake Rd	0.67mi	4/3.0 (-1)	2,817 (-11%)	8mo	$995,000	$353	35
3471 Rocky Point Rd	0.64mi	4/3.0 (-1)	2,747 (-13%)	16mo	$1,362,785	$496	26

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 · 3.56% rent growth · sell at horizon

5-year hold

• IRR: 16.7%
• Equity multiple: 1.68×
• Total profit: $52,157
• Equity at exit: $41,003

10-year hold

• IRR: 25.6%
• Equity multiple: 3.30×
• Total profit: $177,076
• Equity at exit: $23,777

Cash invested: $77,000 (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 96150

• Rents YoY: 3.6%
• Active inventory: 307
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $4,278 medium
• Mortgage (P&I): −$1,442
• Tax est. 1.5%: −$344 /mo · $4,125/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$898
• Net cashflow: $1,479

Break-even live

Break-even rent $2,406

Max offer price $275,000

Occupancy floor 60%

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3810 Needle Peak Rd South Lake Tahoe, CA	4.0	3.0	2100	$4,600	$2.19	44d	1	0.27mi
1236 Timber Ln South Lake Tahoe, CA	4.0	2.0	2254	$4,500	$2.00	44d	1	0.45mi

Listing history 38 events

1. 2026-06-18
   days on market $275,000 Active 29 DOM
2. 2026-06-17
   days on market $275,000 Active 28 DOM
3. 2026-06-16
   days on market $275,000 Active 27 DOM
4. 2026-06-15
   days on market $275,000 Active 26 DOM
5. 2026-06-13
   days on market $275,000 Active 24 DOM
6. 2026-06-09
   days on market $275,000 Active 20 DOM
7. 2026-06-08
   days on market $275,000 Active 19 DOM
8. 2026-06-07
   days on market $275,000 Active 18 DOM
9. 2026-06-03
   days on market $275,000 Active 14 DOM
10. 2026-06-02
    days on market $275,000 Active 13 DOM
11. 2026-06-01
    days on market $275,000 Active 12 DOM
12. 2026-05-31
    days on market $275,000 Active 11 DOM
13. 2026-05-20
    listed $275,000 Active
14. 2025-07-23
    soldstatus $265,000 Sold 1063-char remark

    Show marketing remark (1063 chars)

    New co-ownership opportunity: Own one-eighth of this professionally managed, turnkey home. This designer-remodeled, three-level home is surrounded by natural beauty. The updated exterior features redwood and slate accents, IPE and slate decking, redwood railings, and a new metal roof. Inside, oak and mahogany flooring is newly installed throughout. The top-level great room includes a living room with a floor-to-ceiling concrete fireplace and doors leading to an expansive slate deck. The adjoining kitchen, with quartz countertops, and the dining area showcase wood ceilings with exposed rafters. The middle level features the main entry, a large family/flex room, three generously sized bedrooms, and two bathrooms. The bottom level includes two new primary en-suite bedrooms and a laundry room. The bathrooms are finished with porcelain and marble tilework and heated floors. One of the primary bedrooms has a sliding glass door leading to a deck and hot tub, offering a serene outdoor experience. The home comes fully furnished and professionally designed.

15. 2025-07-14
    status Pending 1063-char remark

    Show marketing remark (1063 chars)

    New co-ownership opportunity: Own one-eighth of this professionally managed, turnkey home. This designer-remodeled, three-level home is surrounded by natural beauty. The updated exterior features redwood and slate accents, IPE and slate decking, redwood railings, and a new metal roof. Inside, oak and mahogany flooring is newly installed throughout. The top-level great room includes a living room with a floor-to-ceiling concrete fireplace and doors leading to an expansive slate deck. The adjoining kitchen, with quartz countertops, and the dining area showcase wood ceilings with exposed rafters. The middle level features the main entry, a large family/flex room, three generously sized bedrooms, and two bathrooms. The bottom level includes two new primary en-suite bedrooms and a laundry room. The bathrooms are finished with porcelain and marble tilework and heated floors. One of the primary bedrooms has a sliding glass door leading to a deck and hot tub, offering a serene outdoor experience. The home comes fully furnished and professionally designed.

16. 2025-06-10
    listed $310,000 Active 1063-char remark

    Show marketing remark (1063 chars)

    New co-ownership opportunity: Own one-eighth of this professionally managed, turnkey home. This designer-remodeled, three-level home is surrounded by natural beauty. The updated exterior features redwood and slate accents, IPE and slate decking, redwood railings, and a new metal roof. Inside, oak and mahogany flooring is newly installed throughout. The top-level great room includes a living room with a floor-to-ceiling concrete fireplace and doors leading to an expansive slate deck. The adjoining kitchen, with quartz countertops, and the dining area showcase wood ceilings with exposed rafters. The middle level features the main entry, a large family/flex room, three generously sized bedrooms, and two bathrooms. The bottom level includes two new primary en-suite bedrooms and a laundry room. The bathrooms are finished with porcelain and marble tilework and heated floors. One of the primary bedrooms has a sliding glass door leading to a deck and hot tub, offering a serene outdoor experience. The home comes fully furnished and professionally designed.

17. 2025-02-04
    price $285,000
18. 2021-02-19
    soldstatus $1,695,000 Sold
19. 2021-02-19
    soldstatus $1,695,000
20. 2021-01-04
    status Active Pending
21. 2020-12-15
    status Active
22. 2020-10-10
    price $1,718,000
23. 2020-08-21
    price $1,790,000
24. 2020-08-21
    price $1,795,000
25. 2020-07-30
    price $1,895,000
26. 2020-06-13
    listed $1,955,000 Active
27. 2009-05-28
    soldstatus $275,000
28. 2009-05-05
    historical
29. 2009-03-25
    listed $270,000
30. 2008-09-30
    historical
31. 2008-03-29
    listed $589,000
32. 2005-08-06
    historical
33. 2005-08-05
    soldstatus $532,500
34. 2005-08-05
    soldstatus $547,500
35. 2005-08-05
    soldstatus $547,500
36. 2005-06-21
    historical
37. 2005-04-23
    listed $579,000
38. 2005-04-23
    listed $559,000

ⓘ 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 6/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥81°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 13 unhealthy d/yr today · 15 by 30 yrs out

Taxation est. · year 1

• Rental income: $51,341
• − Mortgage interest: −$15,404
• − Property taxes: −$4,125
• − Insurance: −$1,375
• − Repairs & maintenance: −$4,107
• − Management: −$4,107
• − Depreciation: −$8,000
• Taxable income: $14,222
• Est. tax owed @ 24.0%: −$3,413
• After-tax cash flow: $14,341/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: Lake Tahoe Unified
• NCES district ID: 0620640
• Math proficiency: 33% ▼ -1.00%
• Reading proficiency: 43% ▲ 1.00%
• Median HH income: $49,114
• Composite: 35.24/100
• National rank: #9844
• State rank: #786 of 1400 in CA

Livability — South Lake Tahoe

• Score: 65/100
• State rank: #371
• US rank: #12667

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Lake Tahoe, CA
• County: El Dorado County · 144,198 people
• City population: 29,646
• Metro: Sacramento-Roseville-Folsom, CA
• Population (ZIP): 29,646
• Household income: $92,517
• Rent vs Own: 38.8% rent · 61.2% own
• Severe rent burden: 1109.0

Population outlook (El Dorado County) Hauer SSP2

• Today (2025): 191,666 people
• By 2030: 193,662 · +1.0%
• By 2040: 192,583 · +0.5%
• By 2050: 185,904 · -3.0%
• By 2075: 169,543 · -11.5%
• By 2100: 139,623 · -27.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 24% Two or more races 11% Asian 5%
• Hispanic origin (detail): Mexican 19%
• Common ancestry: Lithuanian 3% Slovak 3% Romanian 2%
• Foreign-born: 17% · Canada, China, South Korea
• Languages at home: 76% English-only · Spanish 17% Tagalog/Filipino 2% Other Asian/Pacific 1%

Political lean MEDSL · El Dorado

• 2024 margin: R (+12.0) · D 42.6% · R 54.6% · Other 2.8%
• 2008→2024 swing: -1.5pp toward R · 2008: -10.5pp · 2024: -12.0pp
• All cycles: 2024: R+12.0 2020: R+8.8 2016: R+13.9 2012: R+18.2 2008: R+10.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -571.55%
• Current HPI: 316.6411
• Rent YoY: ▲ 3.56%
• Metro: Sacramento-Roseville-Folsom, 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

-52.5% since first listed

26 events — show timeline

• 2026-05-20 Listed $275,000 TSMLS
• 2025-07-23 Sold (MLS) $265,000 TSMLS
• 2025-07-14 Pending — TSMLS
• 2025-06-10 Listed $310,000 TSMLS
• 2025-02-04 Price Changed $285,000 TSMLS
• 2021-02-19 Sold (Public Records) $1,695,000 Public Records
• 2021-02-19 Sold (MLS) $1,695,000 STARMLS
• 2021-01-04 Pending — STARMLS
• 2020-12-15 Relisted — STARMLS
• 2020-10-10 Price Changed $1,718,000 STARMLS
• 2020-08-21 Price Changed $1,790,000 STARMLS
• 2020-08-21 Price Changed $1,795,000 STARMLS
• 2020-07-30 Price Changed $1,895,000 STARMLS
• 2020-06-13 Listed $1,955,000 STARMLS
• 2009-05-28 Sold (MLS) $275,000 STARMLS
• 2009-05-05 Delisted — STARMLS
• 2009-03-25 Listed $270,000 STARMLS
• 2008-09-30 Delisted — STARMLS
• 2008-03-29 Listed $589,000 STARMLS
• 2005-08-06 Delisted — STARMLS
• 2005-08-05 Sold (Public Records) $547,500 Public Records
• 2005-08-05 Sold (MLS) $547,500 STARMLS
• 2005-08-05 Sold (MLS) $532,500 NNRMLS
• 2005-06-21 Listing Removed — NNRMLS
• 2005-04-23 Listed $559,000 STARMLS
• 2005-04-23 Listed $579,000 NNRMLS

Property tax history

+22.5%/yr

Latest (2025): $20,183 · +5.5% YoY. Source: county tax records.