12448 Trappers Trl Unit F32-28 · Truckee, CA 96161

$29,500

3 bd · 3.5 ba · 2,470 sqft · Timeshare · 78 Days on market

$769/mo HOA · 10% of rent ↓ 34% 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
• Schools +4.4/10.0
• Rent growth +4.1/5.0
• Livability +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

The very highest quality in construction and finishes, the cabins at Old Greenwood offer the perfect way to own your mountain home by providing the best in fractional home ownership. With deeded ownership, you enjoy all the advantages of owning real estate, but without the costs and headaches of owning outright. Fixed week is in July each year, plus flexible use year round. Tahoe Mountain Club membership is included while you are in residence at Old Greenwood.

Key facts

• Murphy office room
• 2 garage spots
• Community pool

Tags

• MURPHY OFFICE ROOM
• PRIVATE MEMBERS LOUNGE
• PRIVATE ON-MOUNTAIN RESTAURANT

Property features AI

Finance

• HOA & community: Community pool; Tennis courts; On-site golf course; Cross-country skiing access; Downhill skiing access; Exercise equipment/fitness facilities; Other community amenities (see remarks); Quarterly association fee

Exterior

• Parking: Attached garage; Two covered parking spaces; Two garage spaces
• Home design: Mountain-style architecture; Two levels; Timeshare property
• Exterior features: Golf course frontage

Interior

• Bathrooms: Three full bathrooms; One half bathroom
• Interior features: Located on a golf course

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath timeshare listed at $30k.

Deal economics

• At list price, monthly cash flow is $5k ($59k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $30k).
• Recommended offer: $28k (6.0% below list) — sets the bar for market timing.
• Cap rate 207.0% 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: Rents rising fast (+6.6%/yr); 375 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; high-income renter base; 215 units permitted in Nevada County in 2024 (0 in 5+ unit buildings).
• At $7,478/mo this rent would consume 68% of the median local household income ($132k/yr) (locally 559% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $204 of loan paydown is wiped out by about $885 of value loss. Plan a longer hold.
• 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 + 6.6% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($28k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y ago 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.

Recommended offer $27,730 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% 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. 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. 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?
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: 25.35% ✓
• Cap rate: 207.03%
• Cash-on-cash: 716.93%
• DSCR: 32.90
• GRM: 0.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.59% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 41.93×
• Total profit: $338,095
• Equity at exit: $4,399

10-year hold

• IRR: —
• Equity multiple: 100.90×
• Total profit: $825,151
• Equity at exit: $2,551

Cash invested: $8,260 (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

• Rents YoY: 6.6%
• Active inventory: 375
• Price-to-rent: 0.3×

Monthly cashflow live

• Estimated rent: $7,478 medium
• Mortgage (P&I): −$155
• Tax est. 1.5%: −$37 /mo · $442/yr
• Insurance: −$12
• HOA: −$769
• Vacancy / Maint / Mgmt: −$1,570
• Net cashflow: $4,935

Break-even live

Break-even rent $1,231

Max offer price $29,500

Occupancy floor 29%

Sensitivity live

Price	-10% $4,955	-5% $4,945	+0% $4,935	+5% $4,925	+10% $4,914
Rent	-10% $4,344	-5% $4,639	+0% $4,935	+5% $5,230	+10% $5,526
Rate	-1.0pp $4,950	-0.5pp $4,942	base $4,935	+0.5pp $4,927	+1.0pp $4,919

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: $7,375
• Closing costs: $885
• 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	1.00mi
10077 Jake S Way Truckee, CA	3.0	3.5	2552	$10,500	$4.11	44d	1	1.01mi
10085 Nicolas Dr Unit A Truckee, CA	3.0	2.5	1871	$5,500	$2.94	44d	1	1.45mi

HOA detail

• Monthly dues: $769 · $9,228/yr

Listing history 8 events

1. 2026-05-22
   status Pending
2. 2026-04-30
   historical Contingent
3. 2026-03-05
   listed $29,500 Active
4. 2018-10-25
   soldstatus $36,500 Sold 464-char remark

   Show marketing remark (464 chars)

   The very highest quality in construction and finishes, the cabins at Old Greenwood offer the perfect way to own your mountain home by providing the best in fractional home ownership. With deeded ownership, you enjoy all the advantages of owning real estate, but without the costs and headaches of owning outright. Fixed week is in July each year, plus flexible use year round. Tahoe Mountain Club membership is included while you are in residence at Old Greenwood.

5. 2014-09-24
   historical 464-char remark

   Show marketing remark (464 chars)

   The very highest quality in construction and finishes, the cabins at Old Greenwood offer the perfect way to own your mountain home by providing the best in fractional home ownership. With deeded ownership, you enjoy all the advantages of owning real estate, but without the costs and headaches of owning outright. Fixed week is in July each year, plus flexible use year round. Tahoe Mountain Club membership is included while you are in residence at Old Greenwood.

6. 2014-05-19
   status Active 464-char remark

   Show marketing remark (464 chars)

   The very highest quality in construction and finishes, the cabins at Old Greenwood offer the perfect way to own your mountain home by providing the best in fractional home ownership. With deeded ownership, you enjoy all the advantages of owning real estate, but without the costs and headaches of owning outright. Fixed week is in July each year, plus flexible use year round. Tahoe Mountain Club membership is included while you are in residence at Old Greenwood.

7. 2014-05-09
   historical 464-char remark

   Show marketing remark (464 chars)

   The very highest quality in construction and finishes, the cabins at Old Greenwood offer the perfect way to own your mountain home by providing the best in fractional home ownership. With deeded ownership, you enjoy all the advantages of owning real estate, but without the costs and headaches of owning outright. Fixed week is in July each year, plus flexible use year round. Tahoe Mountain Club membership is included while you are in residence at Old Greenwood.

8. 2013-11-11
   listed $45,000 Active 464-char remark

   Show marketing remark (464 chars)

   The very highest quality in construction and finishes, the cabins at Old Greenwood offer the perfect way to own your mountain home by providing the best in fractional home ownership. With deeded ownership, you enjoy all the advantages of owning real estate, but without the costs and headaches of owning outright. Fixed week is in July each year, plus flexible use year round. Tahoe Mountain Club membership is included while you are in residence at Old Greenwood.

ⓘ 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: $89,738
• − Mortgage interest: −$1,652
• − Property taxes: −$442
• − Insurance: −$148
• − Repairs & maintenance: −$7,179
• − Management: −$7,179
• − HOA: −$9,228
• − Depreciation: −$858
• Taxable income: $63,051
• Est. tax owed @ 24.0%: −$15,132
• After-tax cash flow: $44,086/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
• County: Nevada County · 85,339 people
• City population: 19,634
• Metro: Truckee-Grass Valley, CA
• Population (ZIP): 19,634
• Household income: $131,702
• Rent vs Own: 24.1% rent · 75.9% own
• Severe rent burden: 559.0

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 12% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 5% Lithuanian 4% Portuguese 3%
• Foreign-born: 10% · Canada, Jamaica, Dominican Republic
• Languages at home: 85% English-only · Spanish 10% French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Nevada

• 2024 margin: D (+12.2) · D 54.4% · R 42.1% · Other 3.5%
• 2008→2024 swing: +6.9pp toward D · 2008: 5.3pp · 2024: 12.2pp
• All cycles: 2024: D+12.2 2020: D+14.8 2016: D+4.5 2012: R+4.7 2008: D+5.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -307.87%
• Current HPI: 336.9632
• Rent YoY: ▲ 6.59%
• Metro: Truckee-Grass Valley, 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

Price history

-34.4% since first listed

8 events — show timeline

• 2026-05-22 Pending — TSMLS
• 2026-04-30 Contingent — TSMLS
• 2026-03-05 Listed $29,500 TSMLS
• 2018-10-25 Sold (MLS) $36,500 TSMLS
• 2014-09-24 Delisted — TSMLS
• 2014-05-19 Relisted — TSMLS
• 2014-05-09 Delisted — TSMLS
• 2013-11-11 Listed $45,000 TSMLS