8001 Northstar Dr #214 · Tahoe Vista, CA 96161-1900

$129,000

3 bd · 3.5 ba · 1,874 sqft · Condo public records · 107 Days on market

Built 2007 $69/sqft · at area comps Est $129k · at est.

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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).

• ARV discount +7.4/15.0
• Appreciation +5.0/10.0
• 1% rule +4.9/10.0
• Schools +4.4/10.0
• Livability +2.6/5.0
• 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

Exceptional opportunity for effortless, affordable ownership in the Village at Northstar. This 1/8 deeded ownership at Catamount 214 includes one primary week, four additional planned weeks each year, plus space-available usage. The residence features three private bedrooms and a warm, inviting living area, perfect for gathering after a day on the slopes. A spacious wraparound deck showcases beautiful views of Northstar Village and Village ski run. Ideally located just steps from the Big Springs Gondola and the Catamount hot tub and fitness center, this residence offers both convenience and comfort. Owners also enjoy access to Tahoe Mountain Club amenities while in residence. Primary Week: First week of February. 2026 Reserved Weeks: January 30-February 6 (Primary), February 6-13, April 10-17, September 4-11, and October 2-9.

Key facts

• Private bedrooms
• Deeded ownership
• Wraparound deck

Tags

• DEEDED OWNERSHIP
• PRIVATE BEDROOMS
• WRAPAROUND DECK
• STEPS FROM BIG SPRINGS GONDOLA

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath condo listed at $129k.

Deal economics

• At list price, monthly cash flow is $-3k ($-32k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $128k (0.6% below list).
• Recommended offer: $117k (9.0% below list) — sets the bar for market timing.
• Cap rate -18.4% vs local median 1.8% in Tahoe Vista — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 52/100 on livability (#1,011 in CA) — a working-class tenant base; expect higher turnover. Strengths: crime A+, employment A+; Watch: schools F, amenities F, commute 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; 3,535 units permitted in Placer County in 2024 (689 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($892 loan paydown + $4k appreciation (3.0% local appreciation)).
• Placer County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 7, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 107 days — a 9% lower offer ($117k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 218% of rent.

Recommended offer $117,390 (9.0% 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 107 days. Have you received any prior offers? Is the seller open to a 9% 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. 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?
9. 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.
10. 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.
11. 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: 0.99% ✗
• Cap rate: -18.41%
• Cash-on-cash: -88.22%
• DSCR: -2.93
• GRM: 8.4

CMA / ARV

• ARV (median comp): $128,829
• List price: $129,000
• Delta: 0.13%
• 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: -68.9%
• Equity multiple: -3.20×
• Total profit: $-151,859
• Equity at exit: $58,004

10-year hold

• IRR: -46.0%
• Equity multiple: -7.34×
• Total profit: $-301,192
• Equity at exit: $89,391

Cash invested: $36,120 (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 96161-1900

• Active inventory: 1
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,282 medium
• Mortgage (P&I): −$676
• Tax from tax record: −$137 /mo · $1,643/yr
• Insurance: −$54
• HOA est. from 18 same-building comps: −$2,801
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $-2,655

Break-even live

Break-even rent $4,643

Max offer price —

Occupancy floor —

Sensitivity live

Price	-10% $-2,582	-5% $-2,619	+0% $-2,655	+5% $-2,692	+10% $-2,728
Rent	-10% $-2,757	-5% $-2,706	+0% $-2,655	+5% $-2,605	+10% $-2,554
Rate	-1.0pp $-2,590	-0.5pp $-2,623	base $-2,655	+0.5pp $-2,689	+1.0pp $-2,723

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: gym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-18
   days on market $129,000 Active 107 DOM
2. 2026-06-17
   days on market $129,000 Active 106 DOM
3. 2026-06-16
   days on market $129,000 Active 105 DOM
4. 2026-06-15
   days on market $129,000 Active 104 DOM
5. 2026-06-14
   days on market $129,000 Active 102 DOM
6. 2026-06-10
   days on market $129,000 Active 99 DOM
7. 2026-06-09
   days on market $129,000 Active 98 DOM
8. 2026-06-08
   days on market $129,000 Active 97 DOM
9. 2026-06-07
   days on market $129,000 Active 96 DOM
10. 2026-06-05
    days on market $129,000 Active 93 DOM
11. 2026-06-03
    days on market $129,000 Active 92 DOM
12. 2026-06-02
    days on market $129,000 Active 91 DOM
13. 2026-06-01
    days on market $129,000 Active 90 DOM
14. 2026-05-31
    days on market $129,000 Active 89 DOM
15. 2026-05-30
    days on market $129,000 Active 88 DOM
16. 2026-03-03
    listed $129,000 Active 837-char remark

    Show marketing remark (837 chars)

    Exceptional opportunity for effortless, affordable ownership in the Village at Northstar. This 1/8 deeded ownership at Catamount 214 includes one primary week, four additional planned weeks each year, plus space-available usage. The residence features three private bedrooms and a warm, inviting living area, perfect for gathering after a day on the slopes. A spacious wraparound deck showcases beautiful views of Northstar Village and Village ski run. Ideally located just steps from the Big Springs Gondola and the Catamount hot tub and fitness center, this residence offers both convenience and comfort. Owners also enjoy access to Tahoe Mountain Club amenities while in residence. Primary Week: First week of February. 2026 Reserved Weeks: January 30-February 6 (Primary), February 6-13, April 10-17, September 4-11, and October 2-9.

17. 2018-03-08
    price $125,000

ⓘ 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: $1,643 · $137/mo
• Projected year-2 tax: $1,643 · $137/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: $15,384
• − Mortgage interest: −$7,226
• − Property taxes: −$1,643
• − Insurance: −$645
• − Repairs & maintenance: −$1,231
• − Management: −$1,231
• − HOA: −$33,612
• − Depreciation: −$3,753
• Taxable loss: −$33,957
• Est. tax savings @ 24.0%: +$8,150
• After-tax cash flow: $-23,715/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 — Tahoe Vista

• Score: 52/100
• State rank: #1011
• US rank: #24918

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

No demographic data for this ZIP.

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

+3.2% since first listed

2 events — show timeline

• 2026-03-03 Listed $129,000 TSMLS
• 2018-03-08 Price Changed $125,000 TSMLS

Property tax history

-4.5%/yr

Latest (2025): $1,643 · +2.3% YoY. Source: county tax records.