12328 Frontier Trl Unit F27-36 · Truckee, CA 96161

$15,000

3 bd · 3.5 ba · 2,470 sqft · SingleFamily · 138 Days on market

$6/sqft · 11% above area Est $13k · 11% over $769/mo HOA · 16% of rent

---

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
• 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
• ARV discount +2.4/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Enjoy this recently updated 3-bedroom Cabin nestled in the heart of Old Greenwood, offering a unique shared ownership opportunity. Your ownership includes Summer week 36 (September) for your primary use, as well as mid-week and flex-week reservations that change each year. This cabin boasts a thoughtfully designed layout with two primary bedrooms onthe main level, complemented by an inviting upstairs loft, spacious two-bed suite, and a versatile office featuring aconvenient Murphy bed. The perfect blend of comfort and functionality. As an owner, you'll relish in preferred access to twochampionship golf courses at the Tahoe Mountain Club, ensuring that every moment of your stay is filled with leisure andluxury. Enjoy complimentary shuttle service to Northstar resort and unwind in the two private members' lounges in the Villageand Mid Mountain, enhancing your 4-season club ownership experience. The on-site Pavilion offers a world-class facility witha pool and gym, providing entertainment and relaxation for all. Owners also enjoy the flexibility of booking available time, allowing for spontaneous reservations at no additional cost.

Key facts

• Pool and gym
• World-class facility
• Garage

Tags

• COMPLIMENTARY SHUTTLE SERVICE
• PRIVATE MEMBERS LOUNGES
• WORLD-CLASS FACILITY
• POOL AND GYM

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath single-family listed at $15k.

Deal economics

• At list price, monthly cash flow is $3k ($35k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $15k).
• Recommended offer: $13k (12.0% below list) — sets the bar for market timing.
• Cap rate 238.6% 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; 2 comparable units currently listed for rent nearby; high-income renter base; 215 units permitted in Nevada County in 2024 (0 in 5+ unit buildings).
• This rent runs 44% 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 $104 of loan paydown is wiped out by about $450 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 $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 138 days — a 12% lower offer ($13k) is reasonable based on typical stale-listing flexibility.

Recommended offer $13,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 138 days. Have you received any prior offers? Is the seller open to a 12% 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: 31.87% ✓
• Cap rate: 238.56%
• Cash-on-cash: 829.54%
• DSCR: 37.91
• GRM: 0.3

CMA / ARV

• ARV (median comp): $13,465
• List price: $15,000
• Delta: 11.40%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12283 Lookout Loop Unit F8-34	0.07mi	3/3.5	2,470 (0%)	2mo	$20,000	$8	95
12328 Frontier Trl Unit F27-07	0.00mi	3/3.5	2,470 (0%)	6mo	$12,000	$5	95
12448 Trappers Trl Unit F32-05	0.13mi	3/3.5	2,470 (0%)	0mo	$1,000	—	94
12448 Trappers Trl Unit F32-28	0.13mi	3/3.5	2,470 (0%)	1mo	$27,500	$11	93
12423 Lookout Loop Unit F15-30	0.15mi	3/3.5	2,470 (0%)	1mo	$21,000	$9	92
12381 Lookout Loop Unit F13-24	0.11mi	3/3.5	2,470 (0%)	3mo	$12,750	$5	92
12323 Lookout Loop Unit F10-24	0.08mi	3/3.5	2,470 (0%)	5mo	$13,500	$5	92
12448 Trappers Trl Unit F32-24	0.13mi	3/3.5	2,470 (0%)	2mo	$12,500	$5	92
12463 Lookout Loop Unit F17-22	0.18mi	3/3.5	2,470 (0%)	0mo	$7,000	$3	91
12498 Lookout Loop Unit F38-26	0.22mi	3/3.5	2,470 (0%)	4mo	$23,000	$9	86
12041 Highland Ave	0.62mi	3/2.5	2,266 (-8%)	0mo	$1,240,000	$547	53
12191 Highland Ave	0.60mi	4/3.0 (+1)	2,304 (-7%)	5mo	$1,170,000	$508	49

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 48.84×
• Total profit: $200,920
• Equity at exit: $2,237

10-year hold

• IRR: —
• Equity multiple: 118.69×
• Total profit: $494,315
• Equity at exit: $1,297

Cash invested: $4,200 (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: $4,780 medium
• Mortgage (P&I): −$79
• Tax est. 1.5%: −$19 /mo · $225/yr
• Insurance: −$6
• HOA: −$769
• Vacancy / Maint / Mgmt: −$1,004
• Net cashflow: $2,903

Break-even live

Break-even rent $1,105

Max offer price $15,000

Occupancy floor 34%

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: $3,750
• Closing costs: $450
• 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	1.11mi
10077 Jake S Way Truckee, CA	3.0	3.5	2552	$10,500	$4.11	43d	1	1.12mi

HOA detail

• Monthly dues: $769 · $9,228/yr
• Likely covers: poolgym

Listing history 16 events

1. 2026-06-18
   days on market $15,000 Active 138 DOM
2. 2026-06-17
   days on market $15,000 Active 137 DOM
3. 2026-06-16
   days on market $15,000 Active 136 DOM
4. 2026-06-15
   days on market $15,000 Active 135 DOM
5. 2026-06-14
   days on market $15,000 Active 133 DOM
6. 2026-06-10
   days on market $15,000 Active 130 DOM
7. 2026-06-09
   days on market $15,000 Active 129 DOM
8. 2026-06-08
   days on market $15,000 Active 128 DOM
9. 2026-06-07
   days on market $15,000 Active 127 DOM
10. 2026-06-05
    days on market $15,000 Active 124 DOM
11. 2026-06-03
    days on market $15,000 Active 123 DOM
12. 2026-06-02
    days on market $15,000 Active 122 DOM
13. 2026-06-01
    days on market $15,000 Active 121 DOM
14. 2026-05-31
    days on market $15,000 Active 120 DOM
15. 2026-05-30
    days on market $15,000 Active 119 DOM
16. 2026-01-31
    listed $15,000 Active 1146-char remark

    Show marketing remark (1146 chars)

    Enjoy this recently updated 3-bedroom Cabin nestled in the heart of Old Greenwood, offering a unique shared ownership opportunity. Your ownership includes Summer week 36 (September) for your primary use, as well as mid-week and flex-week reservations that change each year. This cabin boasts a thoughtfully designed layout with two primary bedrooms onthe main level, complemented by an inviting upstairs loft, spacious two-bed suite, and a versatile office featuring aconvenient Murphy bed. The perfect blend of comfort and functionality. As an owner, you'll relish in preferred access to twochampionship golf courses at the Tahoe Mountain Club, ensuring that every moment of your stay is filled with leisure andluxury. Enjoy complimentary shuttle service to Northstar resort and unwind in the two private members' lounges in the Villageand Mid Mountain, enhancing your 4-season club ownership experience. The on-site Pavilion offers a world-class facility witha pool and gym, providing entertainment and relaxation for all. Owners also enjoy the flexibility of booking available time, allowing for spontaneous reservations at no additional cost.

ⓘ 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: $57,358
• − Mortgage interest: −$840
• − Property taxes: −$225
• − Insurance: −$75
• − Repairs & maintenance: −$4,589
• − Management: −$4,589
• − HOA: −$9,228
• − Depreciation: −$436
• Taxable income: $37,376
• Est. tax owed @ 24.0%: −$8,970
• After-tax cash flow: $25,871/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

1 event — show timeline

• 2026-01-31 Listed $15,000 TSMLS