124 Lark St · Penn Valley, CA 95946

$64,900

2 bd · 2.0 ba · 1,022 sqft · Manufactured · 8 Days on market

Built 1970 2,117 sqft lot

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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
• ARV discount +7.5/15.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Grab your coffee, settle into the screened room, and let the stress of the day melt away. Surrounded by mature trees and nestled on a desirable corner lot, this inviting home offers comfort, space, and tremendous value in Penn Valley's Creekside Village All-Ages community. Freshly painted and thoughtfully refreshed, this 2-bedroom, 2-bath double-wide feels warm, welcoming, and ready for its next chapter. Step inside to find new flooring, updated features, and spacious living areas designed for everyday comfort. The charming dining area features a built-in hutch, while the primary suite offers built-in drawers and an new shower enclosure. With room to relax, room to entertain, and room to ma

Key facts

• Flexible floor plan
• Built-in hutch
• Corner lot

Tags

• CORNER LOT
• BUILT-IN HUTCH
• NEW SHOWER ENCLOSURE
• FLEXIBLE FLOOR PLAN
• GAS RANGE
• WASHER AND DRYER HOOKUPS

Property features AI

Finance

• Other: Located at 124 Lark Street, Penn Valley, CA 95946; Within Nevada County
• HOA & community: No homeowners association; Land lease in effect ($900)

Exterior

• Parking: Assigned parking; Guest parking available; No garage
• Utilities: Cable available; Internet available; Individual electric meter; Individual gas meter; Public sewer; Private/shared well water
• Home design: Manufactured home in park; Double wide; Updated/remodeled and original elements; Built in 1970
• Construction: Metal roof; Skirting: aluminum/metal/other; Manufacturer/Make: La Cruz
• Exterior features: Porch awning; Backyard; Front yard; Fenced; Close to clubhouse; Corner lot; Landscaped

Interior

• Kitchen: Free-standing gas range; Free-standing gas oven; Free-standing refrigerator; Hood over range
• Bedrooms: 2 bedrooms (includes master bedroom)
• Flooring: Laminate
• Bathrooms: 2 full bathrooms; Tub with shower over; Shower stall(s)
• Heating & cooling: Room air conditioning; No central cooling; Other heating
• Interior features: Pantry cabinet; Synthetic countertops; Porch steps; Covered deck; Screened-in patio; Enclosed patio; Pets allowed (cats and dogs; number limit)
• Laundry & utility: Laundry closet with hookups; Inside laundry area/room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $65k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Cap rate 27.7% vs local median 2.8% in Penn Valley — 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 50/100 on livability (#1,129 in CA) — a working-class tenant base; expect higher turnover. Strengths: crime A; Watch: employment C-, schools D+, amenities F.
• Penn Valley Union Elementary (town): math 31% / reading 42% proficiency, ranked #253 of 517 in CA (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 146 active listings in the ZIP; 215 units permitted in Nevada County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k 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 + 3.0% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $64,900

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-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. 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.
5. 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.
6. 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: 3.13% ✓
• Cap rate: 27.72%
• Cash-on-cash: 76.51%
• DSCR: 4.40
• GRM: 2.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 76.5%
• Equity multiple: 4.48×
• Total profit: $63,308
• Equity at exit: $9,677

10-year hold

• IRR: 80.1%
• Equity multiple: 9.27×
• Total profit: $150,273
• Equity at exit: $5,611

Cash invested: $18,172 (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 95946

• Home prices YoY: -33.5%
• Active inventory: 146
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $2,034 medium
• Mortgage (P&I): −$340
• Tax est. 1.5%: −$81 /mo · $974/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$427
• Net cashflow: $1,159

Break-even live

Break-even rent $568

Max offer price $64,900

Occupancy floor 38%

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-13
   statusdays on market $64,900 Pending 8 DOM
2. 2026-06-10
   days on market $64,900 Active 7 DOM
3. 2026-06-09
   days on market $64,900 Active 6 DOM
4. 2026-06-08
   days on market $64,900 Active 5 DOM
5. 2026-06-07
   days on market $64,900 Active 4 DOM
6. 2026-06-03
   remarks 699-char remark
7. 2026-06-03
   listed $64,900 Active 1 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 7 d/yr ≥98°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 31 unhealthy d/yr today · 38 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,412
• − Mortgage interest: −$3,635
• − Property taxes: −$974
• − Insurance: −$324
• − Repairs & maintenance: −$1,953
• − Management: −$1,953
• − Depreciation: −$1,888
• Taxable income: $13,685
• Est. tax owed @ 24.0%: −$3,284
• After-tax cash flow: $10,619/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: Penn Valley Union Elementary
• NCES district ID: 0601427
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 42% ▼ -11.00%
• Median HH income: $58,786
• Composite: 32.4/100
• National rank: #5728
• State rank: #253 of 517 in CA

Livability — Penn Valley

• Score: 50/100
• State rank: #1129
• US rank: #25672

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Penn Valley, CA
• Population (ZIP): 9,448

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 14% Two or more races 13%
• Hispanic origin (detail): Mexican 7% Puerto Rican 4%
• Common ancestry: Italian 5% Portuguese 3% Lithuanian 2%
• Foreign-born: 2% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 4% French/Haitian/Cajun 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: ▼ -114.27%
• Current HPI: 226.5683
• 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

Property tax history

-1.7%/yr

Latest (2025): $42 · +1.5% YoY. Source: county tax records.