12488 Trappers Trl Unit F34-03 · Truckee, CA 96161-4545

$6,000

3 bd · 3.5 ba · 2,470 sqft · SingleFamily · 58 Days on market

$2/sqft · 73% below area $769/mo HOA · 9% of rent ↓ 43% since listing

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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 +4.4/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Experience luxury living with this 1/17 shared ownership of a 3-bedroom cabin in Old Greenwood, Truckee’s premier golf community. This exceptional residence stands out with its private driveway—unlike others—and a Murphy bed office, adding both sleeping space and versatility. Enjoy a guaranteed MLK week (3rd week of January) each year, plus flexible floating time ready for you to book. Current Mid-Week and FlexibleWeek reservations are May 18-22 and June 19-22. Ownership includes Preferred Access to two championship golf courses (Old Greenwood and Gray’s Crossing) and exclusive Tahoe Mountain Club amenities: a private members’ lounge in Northstar Village, an on-mountain restaurant, and complimentary shuttle service to Northstar. Guests can check in unaccompanied and enjoy full use of amenities. Owners benefit from flexible reservations, including mid-week and last-minute bookings based on availability—creating a true four-season luxury club experience. Don’t miss the chance to own in one of Truckee’s most sought-after communities!

Key facts

• Private driveway
• Murphy bed office
• 2 garage spots

Tags

• PRIVATE DRIVEWAY
• MURPHY BED OFFICE
• PRIVATE MEMBERS LOUNGE
• ON MOUNTAIN RESTAURANT
• COMPLIMENTARY SHUTTLE SERVICE

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath single-family listed at $6k.

Deal economics

• At list price, monthly cash flow is $6k ($69k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $6k).
• Recommended offer: $6k (3.0% below list) — sets the bar for market timing.
• Cap rate 1153.8% vs local median 2.0% 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.
• Market conditions: 1 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 215 units permitted in Nevada County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $221 of equity ($41 loan paydown + $180 appreciation (3.0% local appreciation)).
• 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 $2k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($6k) is reasonable based on typical stale-listing flexibility.

Recommended offer $5,820 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 138.14% ✓
• Cap rate: 1153.77%
• Cash-on-cash: 4098.13%
• DSCR: 183.34
• GRM: 0.1

CMA / ARV

• ARV (median comp): $21,953
• List price: $6,000
• Delta: -72.67%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12448 Trappers Trl Unit F32-05	0.04mi	3/3.5	2,470 (0%)	0mo	$1,000	—	98
12448 Trappers Trl Unit F32-28	0.04mi	3/3.5	2,470 (0%)	1mo	$27,500	$11	98
12463 Lookout Loop Unit F17-22	0.07mi	3/3.5	2,470 (0%)	0mo	$7,000	$3	97
12423 Lookout Loop Unit F15-30	0.06mi	3/3.5	2,470 (0%)	1mo	$21,000	$9	96
12448 Trappers Trl Unit F32-24	0.04mi	3/3.5	2,470 (0%)	2mo	$12,500	$5	96
12381 Lookout Loop Unit F13-24	0.09mi	3/3.5	2,470 (0%)	3mo	$12,750	$5	94
12498 Lookout Loop Unit F38-26	0.08mi	3/3.5	2,470 (0%)	4mo	$23,000	$9	93
12283 Lookout Loop Unit F8-34	0.17mi	3/3.5	2,470 (0%)	2mo	$20,000	$8	90
12323 Lookout Loop Unit F10-24	0.14mi	3/3.5	2,470 (0%)	5mo	$13,500	$5	90
12328 Frontier Trl Unit F27-07	0.16mi	3/3.5	2,470 (0%)	7mo	$12,000	$5	87
12041 Highland Ave	0.63mi	3/2.5	2,266 (-8%)	0mo	$1,240,000	$547	53
12191 Highland Ave	0.65mi	4/3.0 (+1)	2,304 (-7%)	5mo	$1,170,000	$508	47

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 219.30×
• Total profit: $366,738
• Equity at exit: $2,698

10-year hold

• IRR: —
• Equity multiple: 473.77×
• Total profit: $794,254
• Equity at exit: $4,158

Cash invested: $1,680 (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 96161-4545

• Active inventory: 1
• Price-to-rent: 0.1×

Monthly cashflow live

• Estimated rent: $8,288 medium
• Mortgage (P&I): −$31
• Tax est. 1.5%: −$8 /mo · $90/yr
• Insurance: −$2
• HOA: −$769
• Vacancy / Maint / Mgmt: −$1,741
• Net cashflow: $5,737

Break-even live

Break-even rent $1,026

Max offer price $6,000

Occupancy floor 26%

Sensitivity live

Price	-10% $5,742	-5% $5,739	+0% $5,737	+5% $5,735	+10% $5,733
Rent	-10% $5,083	-5% $5,410	+0% $5,737	+5% $6,065	+10% $6,392
Rate	-1.0pp $5,740	-0.5pp $5,739	base $5,737	+0.5pp $5,736	+1.0pp $5,734

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: $1,500
• Closing costs: $180
• 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	44d	1	0.95mi
10077 Jake S Way Truckee, CA	3.0	3.5	2552	$10,500	$4.11	44d	1	0.96mi
10085 Nicolas Dr Unit A Truckee, CA	3.0	2.5	1871	$5,500	$2.94	44d	1	1.42mi

HOA detail

• Monthly dues: $769 · $9,228/yr

Listing history 19 events

1. 2026-06-18
   days on market $6,000 Active 58 DOM
2. 2026-06-17
   days on market $6,000 Active 57 DOM
3. 2026-06-16
   days on market $6,000 Active 56 DOM
4. 2026-06-15
   days on market $6,000 Active 55 DOM
5. 2026-06-14
   days on market $6,000 Active 53 DOM
6. 2026-06-10
   days on market $6,000 Active 50 DOM
7. 2026-06-09
   days on market $6,000 Active 49 DOM
8. 2026-06-08
   days on market $6,000 Active 48 DOM
9. 2026-06-07
   days on market $6,000 Active 47 DOM
10. 2026-06-05
    days on market $6,000 Active 44 DOM
11. 2026-06-03
    days on market $6,000 Active 43 DOM
12. 2026-06-02
    days on market $6,000 Active 42 DOM
13. 2026-06-01
    days on market $6,000 Active 41 DOM
14. 2026-05-31
    days on market $6,000 Active 40 DOM
15. 2026-05-30
    days on market $6,000 Active 39 DOM
16. 2026-04-20
    listed $6,000 Active 1094-char remark

    Show marketing remark (1094 chars)

    Experience luxury living with this 1/17 shared ownership of a 3-bedroom cabin in Old Greenwood, Truckee’s premier golf community. This exceptional residence stands out with its private driveway—unlike others—and a Murphy bed office, adding both sleeping space and versatility. Enjoy a guaranteed MLK week (3rd week of January) each year, plus flexible floating time ready for you to book. Current Mid-Week and FlexibleWeek reservations are May 18-22 and June 19-22. Ownership includes Preferred Access to two championship golf courses (Old Greenwood and Gray’s Crossing) and exclusive Tahoe Mountain Club amenities: a private members’ lounge in Northstar Village, an on-mountain restaurant, and complimentary shuttle service to Northstar. Guests can check in unaccompanied and enjoy full use of amenities. Owners benefit from flexible reservations, including mid-week and last-minute bookings based on availability—creating a true four-season luxury club experience. Don’t miss the chance to own in one of Truckee’s most sought-after communities!

17. 2026-04-11
    price $6,000
18. 2026-04-02
    price $7,000
19. 2025-05-06
    price $10,500

ⓘ 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: $99,461
• − Mortgage interest: −$336
• − Property taxes: −$90
• − Insurance: −$30
• − Repairs & maintenance: −$7,957
• − Management: −$7,957
• − HOA: −$9,228
• − Depreciation: −$175
• Taxable income: $73,689
• Est. tax owed @ 24.0%: −$17,685
• After-tax cash flow: $51,163/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

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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• 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

-42.9% since first listed

4 events — show timeline

• 2026-04-20 Listed $6,000 TSMLS
• 2026-04-11 Price Changed $6,000 TSMLS
• 2026-04-02 Price Changed $7,000 TSMLS
• 2025-05-06 Price Changed $10,500 TSMLS