1399 Kirkwood Meadows Drive 228/230 Unit R220 · Kirkwood, CA 95646

$60,000

2 bd · 3.0 ba · 1,417 sqft · Condo public records · 165 Days on market

Built 1999 $42/sqft · 89% below area $1146/mo HOA · 86% of rent

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Why this score? — see what drove the F 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).

• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Schools +4.2/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +0.0/30.0
• DSCR +0.0/10.0

Listing remarks MLS

This is a fantastic opportunity to own a 1/4 share (13 weeks per year) in one of Kirkwood's most sought-after ski-in/ski-out properties - The Mountain Club. Located in the Village Plaza, these units are situated directly above the food, beverage, and retail amenities, and are just steps away from five chairlifts offering access to the entire mountain. With two separate lock-off units, this spacious condo comfortably sleeps up to ten people. Included with the 1/4 share are an underground parking space, a ski locker, and a personal lock-off closet. The building has excellent amenities, including an on-site hot tub, fitness room, sauna, and all utilities are included in the HOA dues. Additionally, as part of the Kirkwood Community Association (KCA), you'll have access to a pool, hot tubs, fitness room, private bar and caf, locker rooms, tennis and basketball courts, and much more. Situated near several alpine lakes with scenic hiking and mountain biking trails right outside your door, this property offers endless opportunities for outdoor adventure year-round.

Key facts

• Ski locker
• Ski in ski out
• Lock off units

Tags

• SKI IN SKI OUT
• LOCK OFF UNITS
• UNDERGROUND PARKING SPACE
• SKI LOCKER
• PERSONAL LOCK OFF CLOSET
• ON SITE HOT TUB

What this means for you Summary

Snapshot

• This is a 2-bed/3.0-bath condo listed at $60k.

Deal economics

• At list price, monthly cash flow is $-515 ($-6k/yr) — negative.
• Rent doesn't cover operating costs at any purchase price — skip.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#575 in CA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: health & safety C-, crime F, amenities F.
• Alpine County Unified (rural): math 40% / reading 50% proficiency, ranked #546 of 1,400 in CA (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Diamond Valley Elementary (math 34% / reading 54%, grade F, #496 of 1,571 statewide, top 34%, 61 students, 69% FRL) — zoned schools average 69% FRL vs 50% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 34 active listings in the ZIP; 3 units permitted in Alpine County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($415 loan paydown + $2k appreciation (3.0% local appreciation)).
• Alpine County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 165 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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

• Watch-outs: HOA is 86% of rent.

Recommended offer $52,800 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 165 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.23% ✓
• Cap rate: -4.02%
• Cash-on-cash: -36.82%
• DSCR: -0.64
• GRM: 3.7

CMA / ARV

• ARV (median comp): $575,454
• List price: $60,000
• Delta: -89.57%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -25.0%
• Equity multiple: -0.48×
• Total profit: $-24,873
• Equity at exit: $26,979

10-year hold

• IRR: -14.6%
• Equity multiple: -1.47×
• Total profit: $-41,519
• Equity at exit: $41,577

Cash invested: $16,800 (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 95646

• Active inventory: 34
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,337 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$86 /mo · $1,030/yr
• Insurance: −$25
• HOA: −$1,146
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $-515

Break-even live

Break-even rent $1,989

Max offer price —

Occupancy floor —

Sensitivity live

Price	-10% $-482	-5% $-499	+0% $-515	+5% $-532	+10% $-549
Rent	-10% $-621	-5% $-568	+0% $-515	+5% $-463	+10% $-410
Rate	-1.0pp $-485	-0.5pp $-500	base $-515	+0.5pp $-531	+1.0pp $-547

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $1,146 · $13,752/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-21
   days on market $60,000 Active 165 DOM
2. 2026-06-18
   days on market $60,000 Active 162 DOM
3. 2026-06-17
   days on market $60,000 Active 161 DOM
4. 2026-06-16
   days on market $60,000 Active 160 DOM
5. 2026-06-15
   days on market $60,000 Active 159 DOM
6. 2026-06-13
   days on market $60,000 Active 157 DOM
7. 2026-06-13
   days on market $60,000 Active 156 DOM
8. 2026-06-09
   days on market $60,000 Active 153 DOM
9. 2026-06-08
   days on market $60,000 Active 152 DOM
10. 2026-06-07
    days on market $60,000 Active 151 DOM
11. 2026-06-05
    days on market $60,000 Active 148 DOM
12. 2026-06-03
    days on market $60,000 Active 147 DOM
13. 2026-06-02
    days on market $60,000 Active 146 DOM
14. 2026-06-01
    days on market $60,000 Active 145 DOM
15. 2026-05-31
    days on market $60,000 Active 144 DOM
16. 2026-01-07
    listed $60,000 Active 1073-char remark

    Show marketing remark (1073 chars)

    This is a fantastic opportunity to own a 1/4 share (13 weeks per year) in one of Kirkwood's most sought-after ski-in/ski-out properties - The Mountain Club. Located in the Village Plaza, these units are situated directly above the food, beverage, and retail amenities, and are just steps away from five chairlifts offering access to the entire mountain. With two separate lock-off units, this spacious condo comfortably sleeps up to ten people. Included with the 1/4 share are an underground parking space, a ski locker, and a personal lock-off closet. The building has excellent amenities, including an on-site hot tub, fitness room, sauna, and all utilities are included in the HOA dues. Additionally, as part of the Kirkwood Community Association (KCA), you'll have access to a pool, hot tubs, fitness room, private bar and caf, locker rooms, tennis and basketball courts, and much more. Situated near several alpine lakes with scenic hiking and mountain biking trails right outside your door, this property offers endless opportunities for outdoor adventure year-round.

17. 2025-03-20
    listed $69,950 Active
18. 2005-10-04
    soldstatus $220,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $1,030 · $86/mo
• Projected year-2 tax: $1,030 · $86/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $16,041
• − Mortgage interest: −$3,361
• − Property taxes: −$1,030
• − Insurance: −$300
• − Repairs & maintenance: −$1,283
• − Management: −$1,283
• − HOA: −$13,752
• − Depreciation: −$1,745
• Taxable loss: −$6,714
• Est. tax savings @ 24.0%: +$1,611
• After-tax cash flow: $-4,574/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: Alpine County Unified
• NCES district ID: 0602070
• Math proficiency: 40% ▼ -20.00%
• Reading proficiency: 50% ▬ 0.00%
• Median HH income: $58,116
• Composite: 41.62/100
• National rank: #7228
• State rank: #546 of 1400 in CA

Livability — Kirkwood

• Score: 60/100
• State rank: #575
• US rank: #18791

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kirkwood, CA
• Population (ZIP): 406

Population outlook (Alpine County) Hauer SSP2

• Today (2025): 1,025 people
• By 2030: 995 · -2.9%
• By 2040: 954 · -6.9%
• By 2050: 952 · -7.1%
• By 2075: 1,169 · +14.0%
• By 2100: 1,675 · +63.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 27% Two or more races 19%
• Hispanic origin (detail): Mexican 10% Salvadoran 2%
• Common ancestry: Lithuanian 12% Scotch-Irish 7% Subsaharan African 3%
• Foreign-born: 25% · Canada, Jamaica
• Languages at home: 53% English-only · Spanish 31% French/Haitian/Cajun 15%

Political lean MEDSL · Alpine

• 2024 margin: Solid D (+32.0) · D 64.9% · R 32.9% · Other 2.2%
• 2008→2024 swing: +7.4pp toward D · 2008: 24.6pp · 2024: 32.0pp
• All cycles: 2024: D+32.0 2020: D+31.3 2016: D+18.6 2012: D+23.6 2008: D+24.6

Not yet ingested

• 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

-72.7% since first listed

3 events — show timeline

• 2026-01-07 Listed $60,000 STARMLS
• 2025-03-20 Listed $69,950 STARMLS
• 2005-10-04 Sold (Public Records) $220,000 Public Records

Property tax history

-1.3%/yr

Latest (2025): $1,030 · +0.0% YoY. Source: county tax records.