1605 Grass Valley Hwy #54 · North Auburn, CA 95603

$89,500

2 bd · 1.0 ba · 742 sqft · Manufactured · 45 Days on market

Built 1988 Good condition Est $81k · 11% over

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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
• Schools +4.9/10.0
• Condition / age +3.8/5.0
• Rent growth +3.1/5.0
• Livability +3.1/5.0
• ARV discount +2.7/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to easy, low-maintenance living in this charming home located in a desirable 55+ community. Light and bright throughout, this home has been thoughtfully updated with brand new flooring and all-new plumbing, offering both style and peace of mind. The open layout creates an inviting atmosphere, perfect for everyday living or entertaining. Natural light fills the space, giving it a warm and airy feel from the moment you step inside. Ideally situated just a short distance from the community clubhouse, you'll enjoy convenient access to social activities and amenities. Plus, you're just minutes from shopping, dining, and all that Auburn has to offer. Whether you're looking to downsize or

Key facts

• All new plumbing
• Community clubhouse
• New flooring

Tags

• NEW FLOORING
• ALL NEW PLUMBING
• OPEN LAYOUT
• COMMUNITY CLUBHOUSE
• CONVENIENT ACCESS

Property features AI

Finance

• Other: Located at 1605 Grass Valley Hwy #54, Auburn, CA 95603; Directions: HWY 49/Grass Valley Hwy to stoplight at Luther, turn west into Auburn Hills Mobile Home Estates; property on the left
• HOA & community: No homeowners association; Located in a senior community; Land lease not required (land lease Y/N: No) — site shows a land lease amount listed for reference

Exterior

• Parking: Covered parking for 2 vehicles
• Utilities: 220 volts available in laundry; Public sewer; Public water (water district)
• Home design: Manufactured home in park (single wide); Built in 1988
• Construction: Fleetwood Homes manufacturer; Metal skirting; Composition roof; Storage/sheds on property
• Exterior features: Covered exterior storage/shed; Close to clubhouse; Front yard; Covered deck and covered patio; Storage area

Interior

• Kitchen: Free standing refrigerator; Dishwasher; Disposal; Microwave; Free standing gas oven; Synthetic countertops; Dining space in the kitchen
• Bedrooms: Two bedrooms
• Flooring: Laminate
• Bathrooms: One full bathroom with shower stall(s)
• Heating & cooling: Central heating (natural gas); Ceiling fans and window units; multiple units
• Interior features: Free standing refrigerator, dishwasher, disposal, microwave, free standing gas oven; Laminate flooring; Bay windows with partial dual-pane; Covered deck and covered patio; Storage area (exterior storage/shed); Pets allowed (per park rules); Synthetic counter in kitchen; Family room and kitchen
• Laundry & utility: Washer and dryer included (stacked) located inside; 220V in laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $90k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $911 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 18.5% vs local median 2.6% in North Auburn — 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 61/100 on livability (#519 in CA) — a middle-class / working-renter tenant base. Strengths: employment A-, housing A-; Watch: schools F, crime D-, amenities F.
• Placer Union High (suburban): math 39% / reading 72% proficiency, ranked #98 of 517 in CA (top 19%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+2.3%/yr); 204 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 3,535 units permitted in Placer County in 2024 (689 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $619 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Placer County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.3% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 6→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $86,815 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is D 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: 2.16% ✓
• Cap rate: 18.51%
• Cash-on-cash: 43.63%
• DSCR: 2.94
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $80,878
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12102 Hemlock Dr	0.30mi	2/1.0	720 (-3%)	3mo	$83,000	$115	79
1638 Alder Cir #1638	0.34mi	2/1.0	684 (-8%)	1mo	$48,000	$70	70
1605 Grass Valley Hwy #99	0.00mi	2/1.0	672 (-9%)	22mo	$77,000	$115	66
31 Larkspur Ave	0.28mi	2/1.0	688 (-7%)	14mo	$75,000	$109	63
126 Marigold Ave	0.21mi	2/1.0	800 (+8%)	23mo	$72,000	$90	58
114 Marigold Way	0.22mi	1/1.0 (-1)	800 (+8%)	19mo	$45,000	$56	56
1516 Tulip Cir	0.39mi	2/2.0	800 (+8%)	13mo	$94,330	$118	54
12344 Pepperwood Cir	0.48mi	2/2.0	840 (+13%)	16mo	$43,000	$51	39

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 · 2.34% rent growth · sell at horizon

5-year hold

• IRR: 39.8%
• Equity multiple: 2.69×
• Total profit: $42,275
• Equity at exit: $13,345

10-year hold

• IRR: 45.8%
• Equity multiple: 5.25×
• Total profit: $106,476
• Equity at exit: $7,738

Cash invested: $25,060 (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 95603

• Rents YoY: 2.3%
• Active inventory: 204
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,936 medium
• Mortgage (P&I): −$469
• Tax est. 1.5%: −$112 /mo · $1,342/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $911

Break-even live

Break-even rent $783

Max offer price $89,500

Occupancy floor 48%

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: $22,375
• Closing costs: $2,685
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11754 Jones St Unit 11754 Auburn, CA	1.0	1.0	700	$1,595	$2.28	3d	1	0.81mi
750 Auburn Ravine Rd Auburn, CA	1.0	1.0	540	$1,901	$3.52	1d	4	1.23mi

Listing history 13 events

1. 2026-06-18
   days on market $89,500 Active 45 DOM
2. 2026-06-17
   pricedays on market $89,500 Active 44 DOM
3. 2026-06-16
   days on market $91,500 Active 43 DOM
4. 2026-06-15
   days on market $91,500 Active 42 DOM
5. 2026-06-13
   days on market $91,500 Active 40 DOM
6. 2026-06-13
   days on market $91,500 Active 39 DOM
7. 2026-06-09
   days on market $91,500 Active 36 DOM
8. 2026-06-08
   days on market $91,500 Active 35 DOM
9. 2026-06-07
   pricedays on market $91,500 Active 34 DOM
10. 2026-06-03
    days on market $94,500 Active 30 DOM
11. 2026-06-02
    days on market $94,500 Active 29 DOM
12. 2026-06-01
    days on market $94,500 Active 28 DOM
13. 2026-05-31
    days on market $94,500 Active 27 DOM

ⓘ 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 10/10 Extreme
• 🌡 Heat 6/10 Major 6 d/yr ≥99°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 34 unhealthy d/yr today · 41 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,234
• − Mortgage interest: −$5,013
• − Property taxes: −$1,342
• − Insurance: −$448
• − Repairs & maintenance: −$1,859
• − Management: −$1,859
• − Depreciation: −$2,604
• Taxable income: $10,110
• Est. tax owed @ 24.0%: −$2,426
• After-tax cash flow: $8,506/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This charming mobile home is in good condition with recent updates, making it move-in ready and suitable for both resale and rental.

Value-add opportunities

• Both painting exterior — enhances curb appeal and value
• Both landscaping — improves curb appeal and value
• Both replacing worn-out flooring — increases both resale and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both painting exterior — enhances curb appeal and value ↑
• Both landscaping — improves curb appeal and value ↑
• Both replacing worn-out flooring — increases both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Placer Union High
• NCES district ID: 0630750
• Math proficiency: 39% ▲ 1.00%
• Reading proficiency: 72% ▲ 3.00%
• Median HH income: $69,119
• Composite: 49.04/100
• National rank: #2060
• State rank: #98 of 517 in CA

Livability — North Auburn

• Score: 61/100
• State rank: #519
• US rank: #17512

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Auburn, CA
• County: Placer County · 390,510 people
• City population: 28,195
• Metro: Sacramento-Roseville-Folsom, CA
• Population (ZIP): 28,432
• Household income: $85,357
• Rent vs Own: 30.4% rent · 69.6% own
• Severe rent burden: 1017.0

Population outlook (Placer County) Hauer SSP2

• Today (2025): 422,709 people
• By 2030: 444,249 · +5.1%
• By 2040: 480,192 · +13.6%
• By 2050: 506,390 · +19.8%
• By 2075: 550,219 · +30.2%
• By 2100: 547,760 · +29.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 17% Two or more races 11% Asian 3%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Italian 3% Slovak 3% Lithuanian 2%
• Foreign-born: 9% · Canada, South Korea
• Languages at home: 88% English-only · Spanish 10% Other Indo-European 1% Tagalog/Filipino 1%

Political lean MEDSL · Placer

• 2024 margin: Lean R (+8.5) · D 44.3% · R 52.8% · Other 2.9%
• 2008→2024 swing: +2.8pp toward D · 2008: -11.3pp · 2024: -8.5pp
• All cycles: 2024: R+8.5 2020: R+6.7 2016: R+11.3 2012: R+20.1 2008: R+11.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -500.89%
• Current HPI: 251.4573
• Rent YoY: ▲ 2.34%
• 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