12835 Northwoods Blvd · Truckee, CA 96161

$529,000

3 bd · 2.0 ba · 1,296 sqft · Condo public records · 44 Days on market

Built 1979 $408/sqft · 21% below area Est $666k · 21% under $302/mo HOA · 7% of rent ↓ 41% 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).

• ARV discount +15.0/15.0
• Cash flow +10.9/30.0
• Schools +4.4/10.0
• Rent growth +4.1/5.0
• 1% rule +3.6/10.0
• DSCR +3.2/10.0
• Livability +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to your new home! This lovely 4-bedroom, 2-bathroom condo, complete with an attached one-car garage, is situated in the heart of Tahoe Donner. The downstairs area features a kitchen, living room, and dining space, along with a full bathroom and convenient access to the garage. Upstairs, you'll find four generously sized bedrooms and another full bathroom. The bathrooms have both been updated with tile showers and exhaust fans. Newer floors in the living room. One of the bedrooms also includes a private deck. This fantastic condo offers easy access to the golf course, The Lodge restaurant, Z's market, and the recreation pools and fitness center. Best of all, this unit comes fully fur

Key facts

• Private deck
• Recreation pools
• Fitness center

Tags

• PRIVATE DECK
• GOLF COURSE
• RECREATION POOLS
• FITNESS CENTER
• FULLY FURNISHED

Property features AI

Finance

• HOA & community: HOA with annual fee; Association amenities include beach access, pool, tennis courts, golf course, equestrian center, cross-country skiing, downhill skiing, exercise equipment, and boat ramp

Exterior

• Parking: Attached garage with 1 covered space
• Utilities: Water from utility district; Sewer to utility district; Natural gas available
• Home design: Condo/Townhome/PUD; Two-story
• Construction: Metal roof
• Exterior features: Two decks; Street access; Level topography

Interior

• Kitchen: Range; Oven; Microwave; Dishwasher; Garbage disposal; Refrigerator
• Flooring: Carpet; Mixed flooring; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating
• Interior features: Mountain architectural style; Two levels
• Laundry & utility: Washer; Dryer; Laundry located in garage

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $529k.

Deal economics

• At list price, monthly cash flow is $-232 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $488k (7.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $456k (13.8% below list).
• Recommended offer: $456k (13.8% below list) — sets the bar for 1% rule.
• Cap rate 5.8% 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); 381 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 215 units permitted in Nevada County in 2024 (0 in 5+ unit buildings).
• This rent runs 42% of the median local income ($132k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k 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.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($513k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y ago; this cycle's ask has dropped $40k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $393k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $455,910 (13.8% 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 44 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
3. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 0.86% ✗
• Cap rate: 5.77%
• Cash-on-cash: -1.88%
• DSCR: 0.92
• GRM: 9.7

CMA / ARV

• ARV (median comp): $666,032
• List price: $529,000
• Delta: -20.57%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -15.2%
• Equity multiple: 0.44×
• Total profit: $-83,232
• Equity at exit: $78,876

10-year hold

• IRR: -1.3%
• Equity multiple: 0.90×
• Total profit: $-15,364
• Equity at exit: $45,738

Cash invested: $148,120 (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

• Rents YoY: 6.6%
• Active inventory: 381
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $4,559 high
• Mortgage (P&I): −$2,774
• Tax from tax record: −$537 /mo · $6,441/yr
• Insurance: −$220
• HOA: −$302
• Vacancy / Maint / Mgmt: −$957
• Net cashflow: $-232

Break-even live

Break-even rent $4,852

Max offer price $488,090

Occupancy floor —

Sensitivity live

Price	-10% $68	-5% $-82	+0% $-232	+5% $-381	+10% $-531
Rent	-10% $-592	-5% $-412	+0% $-232	+5% $-51	+10% $129
Rate	-1.0pp $35	-0.5pp $-97	base $-232	+0.5pp $-369	+1.0pp $-508

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: $132,250
• Closing costs: $15,870
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12803 Northwoods Blvd Truckee, CA	3.0	2.0	1649	$4,100	$2.49	15d	1	0.06mi
11641 Zermatt Dr Truckee, CA	3.0	2.0	1865	$3,999	$2.14	22d	1	0.66mi
11608 Chamonix Rd Truckee, CA	3.0	2.0	1321	$3,300	$2.50	22d	1	0.82mi
14474 Northwoods Blvd Unit 1546202P Truckee, CA	3.0	2.0	1646	$6,451	$3.92	15d	1	1.01mi
12640 Zurich Pl Truckee, CA	2.0	2.0	1060	$2,995	$2.83	45d	1	1.20mi

HOA detail condo

• Monthly dues: $302 · $3,624/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 33 events

1. 2026-06-21
   days on market $529,000 Active 44 DOM
2. 2026-06-18
   days on market $529,000 Active 41 DOM
3. 2026-06-17
   days on market $529,000 Active 40 DOM
4. 2026-06-16
   days on market $529,000 Active 39 DOM
5. 2026-06-15
   days on market $529,000 Active 38 DOM
6. 2026-06-14
   days on market $529,000 Active 36 DOM
7. 2026-06-10
   days on market $529,000 Active 33 DOM
8. 2026-06-09
   days on market $529,000 Active 32 DOM
9. 2026-06-08
   days on market $529,000 Active 31 DOM
10. 2026-06-07
    pricedays on market $529,000 Active 30 DOM
11. 2026-06-05
    days on market $569,000 Active 27 DOM
12. 2026-06-03
    days on market $569,000 Active 26 DOM
13. 2026-06-02
    days on market $569,000 Active 25 DOM
14. 2026-06-01
    days on market $569,000 Active 24 DOM
15. 2026-05-31
    days on market $569,000 Active 23 DOM
16. 2026-05-30
    days on market $569,000 Active 22 DOM
17. 2026-05-08
    listed $569,000 Active 792-char remark
18. 2025-10-16
    historical $2,900
19. 2025-09-04
    listed $2,900
20. 2025-08-24
    historical $2,900
21. 2025-07-15
    listed $2,900
22. 2024-11-08
    price $549,000
23. 2024-09-21
    price $589,000
24. 2024-08-02
    price $599,000
25. 2023-10-13
    price $639,900
26. 2023-09-03
    price $648,000
27. 2019-02-25
    soldstatus $393,000 Sold
28. 2019-02-21
    soldstatus $393,000
29. 2019-01-24
    status Pending
30. 2019-01-19
    price $398,000
31. 2018-10-17
    price $388,000
32. 2018-09-24
    listed $399,000 Active
33. 2017-11-07
    soldstatus $900,000

ⓘ 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: $6,441 · $537/mo
• Projected year-2 tax: $6,441 · $537/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 1/10 Low 9 d/yr ≥85°F today · 23 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 14 unhealthy d/yr today · 17 by 30 yrs out

Taxation est. · year 1

• Rental income: $54,709
• − Mortgage interest: −$29,632
• − Property taxes: −$6,441
• − Insurance: −$2,645
• − Repairs & maintenance: −$4,377
• − Management: −$4,377
• − HOA: −$3,624
• − Depreciation: −$15,389
• Taxable loss: −$11,775
• Est. tax savings @ 24.0%: +$2,826
• After-tax cash flow: $47/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

-41.2% since first listed

18 events — show timeline

• 2026-06-06 Price Changed $529,000 TSMLS
• 2026-05-08 Listed $569,000 TSMLS
• 2025-10-16 Rental Removed $2,900 APPFOLIO
• 2025-09-04 Listed for Rent $2,900 APPFOLIO
• 2025-08-24 Rental Removed $2,900 APPFOLIO
• 2025-07-15 Listed for Rent $2,900 APPFOLIO
• 2024-11-08 Price Changed $549,000 TSMLS
• 2024-09-21 Price Changed $589,000 TSMLS
• 2024-08-02 Price Changed $599,000 TSMLS
• 2023-10-13 Price Changed $639,900 TSMLS
• 2023-09-03 Price Changed $648,000 TSMLS
• 2019-02-25 Sold (MLS) $393,000 TSMLS
• 2019-02-21 Sold (Public Records) $393,000 Public Records
• 2019-01-24 Pending — TSMLS
• 2019-01-19 Price Changed $398,000 TSMLS
• 2018-10-17 Price Changed $388,000 TSMLS
• 2018-09-24 Listed $399,000 TSMLS
• 2017-11-07 Sold (Public Records) $900,000 Public Records

Property tax history

+3.7%/yr

Latest (2025): $6,441 · +2.9% YoY. Source: county tax records.