3765 Grass Valley Hwy #263 · North Auburn, CA 95602

$175,000

2 bd · 2.0 ba · 1,486 sqft · Manufactured · 257 Days on market

Built 1981 Est $171k · at est.

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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 +20.7/30.0
• DSCR +6.6/10.0
• ARV discount +6.4/15.0
• 1% rule +5.5/10.0
• Schools +4.9/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to your next chapter in this beautifully maintained mobile home, nestled in a quiet and friendly 55+ community. This cozy and comfortable residence offers 2 spacious bedrooms, 2 full bathrooms that have been updated and an open-concept living area that's perfect for relaxing or entertaining guests. Enjoy a bright and airy kitchen with ample cabinet & counter space, a dedicated dining area, and a large living room with plenty of natural light and vaulted ceilings. For extra space there is an enclosed patio room that could be used for a craft room, office or work out area, so many possibilities. Additional features include central heating and air, laundry room, wide carport park

Key facts

• Wide carport parking
• Enclosed patio room
• 2 clubhouses

Tags

• ENCLOSED PATIO ROOM
• CENTRAL HEATING AND AIR
• LAUNDRY ROOM
• WIDE CARPORT PARKING
• STORAGE SHED
• 2 CLUBHOUSES

Property features AI

Finance

• Financial info: Land lease: No; Listed land lease amount provided (not a land lease property)
• HOA & community: No HOA/association; Senior community

Exterior

• Parking: Covered parking
• Utilities: Individual electric meter; Individual gas meter; Public water; Public sewer
• Home design: Manufactured home in park; Triple wide; Built in 1981
• Construction: Vinyl skirting; Other roof
• Exterior features: Carport awning; Covered parking

Interior

• Kitchen: Built-in gas oven; Gas cook top
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms; Tub; Shower stall(s)
• Heating & cooling: Central heating; Ceiling fans
• Interior features: Formal dining area; Laminate countertops in kitchen; Living room with additional/other features
• Laundry & utility: Indoor laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $175k.

Deal economics

• At list price, monthly cash flow is $238 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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: crime D-, amenities F, commute 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.
• Zoned schools: Ev Cain Middle (math 23% / reading 43%, grade F, #199 of 498 statewide, top 40%, 524 students, 45% FRL); Placer High (math 30% / reading 62%, grade D-, #409 of 1,170 statewide, top 36%, 1,310 students, 30% FRL).
• Zoned-school proficiency averages 40% at this address vs 56% district-wide (-16 pts) — the specific schools serving this property underperform the Placer Union High average; the district grade overstates school quality for this exact location.
• Market conditions: 189 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 257 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 5→12/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $154,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 257 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.05% ✓
• Cap rate: 7.92%
• Cash-on-cash: 5.82%
• DSCR: 1.26
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $170,890
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3765 Grass Valley Hwy #111	0.16mi	2/2.0	1,536 (+3%)	2mo	$130,000	$85	86
3765 Grass Valley Hwy #246	0.20mi	2/2.0	1,488 (+0%)	6mo	$227,500	$153	86
3765 Grass Valley Hwy #213	0.14mi	3/2.0 (+1)	1,488 (+0%)	5mo	$132,000	$89	84
3765 Grass Valley Hwy #225	0.00mi	3/2.0 (+1)	1,440 (-3%)	10mo	$135,000	$94	82
3765 Grass Valley Hwy #77	0.20mi	2/2.0	1,530 (+3%)	7mo	$176,000	$115	80
3765 Grass Valley Hwy #271	0.20mi	2/2.0	1,440 (-3%)	8mo	$149,000	$103	79
3765 Grass Valley Hwy #203	0.16mi	2/2.0	1,440 (-3%)	11mo	$188,000	$131	78
3765 Grass Valley Hwy #238	0.16mi	2/2.0	1,440 (-3%)	11mo	$139,000	$97	78
3765 Grass Valley Hwy #232	0.00mi	2/2.0	1,344 (-10%)	11mo	$160,000	$119	74
3765 Grass Valley Hwy #250	0.16mi	2/2.0	1,344 (-10%)	3mo	$165,000	$123	74
3765 Grass Valley Hwy #56	0.20mi	3/2.0 (+1)	1,440 (-3%)	12mo	$142,500	$99	71
3765 Grass Valley Hwy #227	0.16mi	2/2.0	1,344 (-10%)	11mo	$165,000	$123	67

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: -7.3%
• Equity multiple: 0.73×
• Total profit: $-13,193
• Equity at exit: $26,093

10-year hold

• IRR: 2.3%
• Equity multiple: 1.17×
• Total profit: $8,114
• Equity at exit: $15,131

Cash invested: $49,000 (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 95602

• Active inventory: 189
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,832 high
• Mortgage (P&I): −$918
• Tax est. 1.5%: −$219 /mo · $2,625/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $238

Break-even live

Break-even rent $1,531

Max offer price $175,000

Occupancy floor 82%

Sensitivity live

Price	-10% $359	-5% $298	+0% $238	+5% $177	+10% $117
Rent	-10% $93	-5% $165	+0% $238	+5% $310	+10% $382
Rate	-1.0pp $326	-0.5pp $282	base $238	+0.5pp $192	+1.0pp $146

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3713 Park Dr #4 Auburn, CA	1.0	1.0	900	$1,675	$1.86	13d	1	0.12mi
3633 Park Dr #2 Auburn, CA	2.0	1.0	922	$1,699	$1.84	0d	1	0.21mi
3711 Galena Dr #3 Auburn, CA	2.0	1.5	991	$1,850	$1.87	3d	1	0.21mi
3681 Galena Dr #2 Auburn, CA	2.0	1.5	991	$1,800	$1.82	9d	1	0.24mi
3585 Sapphire Dr #4 Auburn, CA	2.0	1.0	900	$1,375	$1.53	0d	1	0.29mi
11325 Quartz Dr Auburn, CA	1.0–2.0	1.0	775	$2,069	$2.67	0d	8	0.35mi
11550 Garnet Way #2 Auburn, CA	2.0	1.5	966	$1,725	$1.79	9d	1	0.35mi

Listing history 14 events

1. 2026-06-21
   days on market $175,000 Active 257 DOM
2. 2026-06-18
   days on market $175,000 Active 254 DOM
3. 2026-06-17
   days on market $175,000 Active 253 DOM
4. 2026-06-16
   days on market $175,000 Active 252 DOM
5. 2026-06-15
   days on market $175,000 Active 251 DOM
6. 2026-06-13
   days on market $175,000 Active 249 DOM
7. 2026-06-13
   days on market $175,000 Active 248 DOM
8. 2026-06-09
   days on market $175,000 Active 245 DOM
9. 2026-06-08
   days on market $175,000 Active 244 DOM
10. 2026-06-07
    days on market $175,000 Active 243 DOM
11. 2026-06-03
    days on market $175,000 Active 239 DOM
12. 2026-06-02
    days on market $175,000 Active 238 DOM
13. 2026-06-01
    days on market $175,000 Active 237 DOM
14. 2026-05-31
    days on market $175,000 Active 236 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 5 d/yr ≥99°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 32 unhealthy d/yr today · 41 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,980
• − Mortgage interest: −$9,803
• − Property taxes: −$2,625
• − Insurance: −$875
• − Repairs & maintenance: −$1,758
• − Management: −$1,758
• − Depreciation: −$5,091
• Taxable income: $70
• Est. tax owed @ 24.0%: −$17
• After-tax cash flow: $2,835/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): 19,701
• Household income: $97,466
• Rent vs Own: 19.9% rent · 80.1% own
• Severe rent burden: 521.0

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 (78%)
• Race & ethnicity: White 78% Hispanic / Latino 14% Two or more races 7% Asian 1%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Italian 6% Portuguese 3% Lithuanian 3%
• Foreign-born: 8% · Canada
• Languages at home: 90% English-only · Spanish 7% Other Indo-European 1% German/W. Germanic 0%

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: ▼ -426.11%
• Current HPI: 257.0087
• Rent YoY: —
• 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