1605 Grass Valley Hwy #92 · North Auburn, CA 95603

$64,000

1 bd · 1.0 ba · 720 sqft · Manufactured · 377 Days on market

Built 1974 Est $78k · 18% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.9/10.0
• Rent growth +3.1/5.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Most affordable ownership! Freshly painted and all new flooring in one of the most affordable senior (55+) communities in Auburn. This is a 1 bedroom, 1 bath home. The second bedroom was turned into a large laundry room which is large enough for a desk or storage plus a closet. Large back deck that is covered. Lot next door has been vacant for years, so feels more open when sitting on the deck. There is also a storage shed on the property. Gas and electric is metered through the park and water is included.

Key facts

• New flooring
• Covered back deck
• Storage shed

Tags

• NEW FLOORING
• LARGE LAUNDRY ROOM
• COVERED BACK DECK
• STORAGE SHED

Property features AI

Finance

• Financial info: Monthly land lease information listed (contact agent for details)
• HOA & community: No homeowners association; Located in a senior community

Exterior

• Parking: Covered parking (no garage)
• Utilities: Natural gas connected; Public water; Public sewer
• Home design: Manufactured home in park (single wide); Built in 1974
• Construction: Metal roof; Metal skirting; Kaufman/Broad manufactured home
• Exterior features: Carport awning; Porch awning; Covered porch/deck

Interior

• Kitchen: Free standing refrigerator; Dishwasher; Free standing electric range
• Bedrooms: 1 bedroom (possible 2nd bedroom conversion)
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom with tub/shower over
• Heating & cooling: Central heating; Evaporative cooler
• Interior features: Dual-pane full windows; Great room living area; Space for dining in the kitchen; Porch steps and covered deck
• Laundry & utility: Washer and dryer included; 220V outlet in laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $64k.

Deal economics

• At list price, monthly cash flow is $933 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $64k).
• Recommended offer: $56k (12.0% below list) — sets the bar for market timing.
• Cap rate 23.8% 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 $442 of loan paydown is wiped out by about $2k 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 $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 377 days — a 12% lower offer ($56k) 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 $56,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 377 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
6. 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?
7. 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.
8. 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.
9. 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: 2.72% ✓
• Cap rate: 23.78%
• Cash-on-cash: 62.45%
• DSCR: 3.78
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $78,480
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12102 Hemlock Dr	0.30mi	2/1.0 (+1)	720 (0%)	3mo	$83,000	$115	79
1638 Alder Cir #1638	0.34mi	2/1.0 (+1)	684 (-5%)	1mo	$48,000	$70	70
1605 Grass Valley Hwy #99	0.00mi	2/1.0 (+1)	672 (-7%)	22mo	$77,000	$115	66
31 Larkspur Ave	0.28mi	2/1.0 (+1)	688 (-4%)	14mo	$75,000	$109	63
114 Marigold Way	0.22mi	1/1.0	800 (+11%)	19mo	$45,000	$56	55
126 Marigold Ave	0.21mi	2/1.0 (+1)	800 (+11%)	23mo	$72,000	$90	47
1516 Tulip Cir	0.39mi	2/2.0 (+1)	800 (+11%)	13mo	$94,330	$118	43

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: 60.7%
• Equity multiple: 3.67×
• Total profit: $47,909
• Equity at exit: $9,543

10-year hold

• IRR: 65.1%
• Equity multiple: 7.34×
• Total profit: $113,664
• Equity at exit: $5,534

Cash invested: $17,920 (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: 3.1×

Monthly cashflow live

• Estimated rent: $1,740 medium
• Mortgage (P&I): −$336
• Tax est. 1.5%: −$80 /mo · $960/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $933

Break-even live

Break-even rent $560

Max offer price $64,000

Occupancy floor 41%

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: $16,000
• Closing costs: $1,920
• 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 $64,000 Active 377 DOM
2. 2026-06-17
   days on market $64,000 Active 376 DOM
3. 2026-06-16
   days on market $64,000 Active 375 DOM
4. 2026-06-15
   days on market $64,000 Active 374 DOM
5. 2026-06-13
   days on market $64,000 Active 372 DOM
6. 2026-06-13
   days on market $64,000 Active 371 DOM
7. 2026-06-09
   days on market $64,000 Active 368 DOM
8. 2026-06-08
   days on market $64,000 Active 367 DOM
9. 2026-06-07
   days on market $64,000 Active 366 DOM
10. 2026-06-03
    days on market $64,000 Active 362 DOM
11. 2026-06-02
    days on market $64,000 Active 361 DOM
12. 2026-06-01
    days on market $64,000 Active 360 DOM
13. 2026-05-31
    days on market $64,000 Active 359 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: $20,885
• − Mortgage interest: −$3,585
• − Property taxes: −$960
• − Insurance: −$320
• − Repairs & maintenance: −$1,671
• − Management: −$1,671
• − Depreciation: −$1,862
• Taxable income: $10,817
• Est. tax owed @ 24.0%: −$2,596
• After-tax cash flow: $8,596/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: 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