12229 Lookout Loop Unit F5-38 · Truckee, CA 96161-4528

$18,000

4 bd · 4.5 ba · 2,985 sqft · Timeshare · 57 Days on market

Built 2004 $6/sqft · 7% below area Est $19k · 7% under $869/mo HOA · 10% of rent ↓ 28% since listing

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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 +15.0/30.0
• ARV discount +10.7/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Appreciation +5.0/10.0
• Schools +4.4/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Luxurious 4 bedroom Shared Ownership home on the 10th fairway of Old Greenwood's Jack Nicklaus Signature golf course. Spacious and elegant living. Enjoy a late September week every year with additional use throughout the year. Book mpre time as needed based on availability. Tahoe Mountain Club use while in residence, with pools, tennis, clubhouse, restaurant, fitness center, spa, kids camp, and preferred golf at Old Greenwood and Gray's Crossing. Free ski shuttle to Northstar, with use of the private Alpine Club & private Schaffer's Camp on-mountain restaurant on the winter.

Key facts

• Tennis
• Restaurant
• Clubhouse

Tags

• 10TH FAIRWAY
• TAHOE MOUNTAIN CLUB USE
• POOLS
• TENNIS
• CLUBHOUSE
• RESTAURANT

What this means for you Summary

Snapshot

• This is a 4-bed/4.5-bath timeshare listed at $18k.

Deal economics

• At list price, monthly cash flow is $6k ($74k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $18k).
• Recommended offer: $17k (3.0% below list) — sets the bar for market timing.
• Cap rate 419.9% 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: 1 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 215 units permitted in Nevada County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $664 of equity ($124 loan paydown + $540 appreciation (3.0% local appreciation)).
• 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 $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($17k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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.
• Current owner paid $8k; list at $18k implies a 118% gain — meaningful room to come down on a strong offer.

Recommended offer $17,460 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 50.61% ✓
• Cap rate: 419.85%
• Cash-on-cash: 1477.00%
• DSCR: 66.72
• GRM: 0.2

CMA / ARV

• ARV (median comp): $19,364
• List price: $18,000
• Delta: -7.05%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 79.96×
• Total profit: $397,936
• Equity at exit: $8,094

10-year hold

• IRR: —
• Equity multiple: 172.39×
• Total profit: $863,828
• Equity at exit: $12,473

Cash invested: $5,040 (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 96161-4528

• Active inventory: 1
• Price-to-rent: 0.2×

Monthly cashflow live

• Estimated rent: $9,110 medium
• Mortgage (P&I): −$94
• Tax est. 1.5%: −$22 /mo · $270/yr
• Insurance: −$8
• HOA: −$869
• Vacancy / Maint / Mgmt: −$1,913
• Net cashflow: $6,203

Break-even live

Break-even rent $1,257

Max offer price $18,000

Occupancy floor 27%

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: $4,500
• Closing costs: $540
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10175 Annies Loop Truckee, CA	3.0	3.5	2194	$7,500	$3.42	43d	1	1.22mi
10077 Jake S Way Truckee, CA	3.0	3.5	2552	$10,500	$4.11	43d	1	1.22mi

HOA detail

• Monthly dues: $869 · $10,428/yr
• Likely covers: poolgym

Listing history 20 events

1. 2026-06-18
   days on market $18,000 Active 57 DOM
2. 2026-06-17
   days on market $18,000 Active 56 DOM
3. 2026-06-16
   days on market $18,000 Active 55 DOM
4. 2026-06-15
   days on market $18,000 Active 54 DOM
5. 2026-06-14
   days on market $18,000 Active 52 DOM
6. 2026-06-10
   days on market $18,000 Active 49 DOM
7. 2026-06-09
   days on market $18,000 Active 48 DOM
8. 2026-06-08
   days on market $18,000 Active 47 DOM
9. 2026-06-07
   days on market $18,000 Active 46 DOM
10. 2026-06-05
    days on market $18,000 Active 43 DOM
11. 2026-06-03
    days on market $18,000 Active 42 DOM
12. 2026-06-02
    days on market $18,000 Active 41 DOM
13. 2026-06-01
    days on market $18,000 Active 40 DOM
14. 2026-05-31
    days on market $18,000 Active 39 DOM
15. 2026-05-30
    days on market $18,000 Active 38 DOM
16. 2026-04-22
    listed $18,000 Active 587-char remark

    Show marketing remark (587 chars)

    Luxurious 4 bedroom Shared Ownership home on the 10th fairway of Old Greenwood's Jack Nicklaus Signature golf course. Spacious and elegant living. Enjoy a late September week every year with additional use throughout the year. Book mpre time as needed based on availability. Tahoe Mountain Club use while in residence, with pools, tennis, clubhouse, restaurant, fitness center, spa, kids camp, and preferred golf at Old Greenwood and Gray's Crossing. Free ski shuttle to Northstar, with use of the private Alpine Club & private Schaffer's Camp on-mountain restaurant on the winter.

17. 2023-12-28
    soldstatus $8,250 Sold 857-char remark

    Show marketing remark (857 chars)

    Enjoy this freshly renovated 4-bed Cabin plus murphy bed office room at Old Greenwood, 1/17 shared ownership, featuring summer ownership week 38 (September), for your primary use period each year + floating time included. Preferred Access to two championship golf courses accompany the Tahoe Mountain Club whenever you are in residence, including free shuttle service to Northstar resort and a private members lounge in the Village and private on-mountain restaurant creating a luxury 4-season club ownership experience. Guests can check in unaccompanied and use the amenities. Space Available is open for reservation by Flex, mid-week, and spontaneous reservations. Cabin #5 is unique as it has a private driveway. Seller currently holds Primary time from Sept 22–Sept 29, Mid-week from Oct 23–Oct 27, 2023, and Flex-time from June 17-24, 2024

18. 2023-12-01
    historical Contingent 857-char remark

    Show marketing remark (857 chars)

    Enjoy this freshly renovated 4-bed Cabin plus murphy bed office room at Old Greenwood, 1/17 shared ownership, featuring summer ownership week 38 (September), for your primary use period each year + floating time included. Preferred Access to two championship golf courses accompany the Tahoe Mountain Club whenever you are in residence, including free shuttle service to Northstar resort and a private members lounge in the Village and private on-mountain restaurant creating a luxury 4-season club ownership experience. Guests can check in unaccompanied and use the amenities. Space Available is open for reservation by Flex, mid-week, and spontaneous reservations. Cabin #5 is unique as it has a private driveway. Seller currently holds Primary time from Sept 22–Sept 29, Mid-week from Oct 23–Oct 27, 2023, and Flex-time from June 17-24, 2024

19. 2023-08-31
    price $15,000 857-char remark

    Show marketing remark (857 chars)

    Enjoy this freshly renovated 4-bed Cabin plus murphy bed office room at Old Greenwood, 1/17 shared ownership, featuring summer ownership week 38 (September), for your primary use period each year + floating time included. Preferred Access to two championship golf courses accompany the Tahoe Mountain Club whenever you are in residence, including free shuttle service to Northstar resort and a private members lounge in the Village and private on-mountain restaurant creating a luxury 4-season club ownership experience. Guests can check in unaccompanied and use the amenities. Space Available is open for reservation by Flex, mid-week, and spontaneous reservations. Cabin #5 is unique as it has a private driveway. Seller currently holds Primary time from Sept 22–Sept 29, Mid-week from Oct 23–Oct 27, 2023, and Flex-time from June 17-24, 2024

20. 2023-06-09
    listed $25,000 Active 857-char remark

    Show marketing remark (857 chars)

    Enjoy this freshly renovated 4-bed Cabin plus murphy bed office room at Old Greenwood, 1/17 shared ownership, featuring summer ownership week 38 (September), for your primary use period each year + floating time included. Preferred Access to two championship golf courses accompany the Tahoe Mountain Club whenever you are in residence, including free shuttle service to Northstar resort and a private members lounge in the Village and private on-mountain restaurant creating a luxury 4-season club ownership experience. Guests can check in unaccompanied and use the amenities. Space Available is open for reservation by Flex, mid-week, and spontaneous reservations. Cabin #5 is unique as it has a private driveway. Seller currently holds Primary time from Sept 22–Sept 29, Mid-week from Oct 23–Oct 27, 2023, and Flex-time from June 17-24, 2024

ⓘ 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: $109,318
• − Mortgage interest: −$1,008
• − Property taxes: −$270
• − Insurance: −$90
• − Repairs & maintenance: −$8,745
• − Management: −$8,745
• − HOA: −$10,428
• − Depreciation: −$524
• Taxable income: $79,507
• Est. tax owed @ 24.0%: −$19,082
• After-tax cash flow: $55,359/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

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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• 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

-28.0% since first listed

5 events — show timeline

• 2026-04-22 Listed $18,000 TSMLS
• 2023-12-28 Sold (MLS) $8,250 TSMLS
• 2023-12-01 Contingent — TSMLS
• 2023-08-31 Price Changed $15,000 TSMLS
• 2023-06-09 Listed $25,000 TSMLS