10191 West River St · Truckee, CA 96161-9616

$499,000

3 bd · 2.0 ba · 900 sqft · SingleFamily public records · 537 Days on market

Built 1880 $554/sqft · at area comps Est $983k · 49% under

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Unlock the potential of this rare downtown Truckee redevelopment opportunity with ADU plans and endless possibilities. Thoughtfully designed by renowned local architect Dale Cox, the fully detailed plans revive one of Historic Truckee’s most versatile properties. Customize the space to fit your vision with options for a 1- or 2-bedroom residence featuring a private entrance on West River Street, plus a separate 1-bedroom ADU with its own Riverside Drive entrance. Property highlights a patio area, and two dedicated parking spaces. Looking for a live/work setup or investment property? The flexible design also allows an option for commercial space. Ideally situated in the heart of Downtown Truckee’s exciting downtown revitalization, enjoy easy access to the new park, pedestrian bridge to the Legacy Trail, and all the dining, shopping, and charm of Old Town Truckee. Seller financing available.

Key facts

• Listed 537 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $499k.

Deal economics

• At list price, monthly cash flow is $3k ($33k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $499k).
• Recommended offer: $439k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.9% 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: 2 active listings in the ZIP; 1 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 $18k of equity ($3k loan paydown + $15k 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 $140k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 537 days — a 12% lower offer ($439k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y 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.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $439,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 537 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
6. 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.
7. 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: 1.56% ✓
• Cap rate: 12.90%
• Cash-on-cash: 23.59%
• DSCR: 2.05
• GRM: 5.3

CMA / ARV

• ARV (median comp): $983,313
• List price: $499,000
• Delta: -49.25%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 29.7%
• Equity multiple: 2.68×
• Total profit: $235,178
• Equity at exit: $224,372

10-year hold

• IRR: 30.2%
• Equity multiple: 5.24×
• Total profit: $592,209
• Equity at exit: $345,784

Cash invested: $139,720 (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 96161-9616

• Active inventory: 2
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $7,800 medium
• Mortgage (P&I): −$2,617
• Tax from tax record: −$590 /mo · $7,081/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,638
• Net cashflow: $2,747

Break-even live

Break-even rent $4,323

Max offer price $499,000

Occupancy floor 60%

Sensitivity live

Price	-10% $3,030	-5% $2,888	+0% $2,747	+5% $2,606	+10% $2,465
Rent	-10% $2,131	-5% $2,439	+0% $2,747	+5% $3,055	+10% $3,363
Rate	-1.0pp $2,998	-0.5pp $2,874	base $2,747	+0.5pp $2,618	+1.0pp $2,486

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: $124,750
• Closing costs: $14,970
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11378 Ridge Rd Truckee, CA	2.0	2.0	1084	$7,800	$7.20	14d	1	1.20mi

Listing history 27 events

1. 2026-06-18
   days on market $499,000 Active 537 DOM
2. 2026-06-17
   days on market $499,000 Active 536 DOM
3. 2026-06-16
   days on market $499,000 Active 535 DOM
4. 2026-06-15
   days on market $499,000 Active 534 DOM
5. 2026-06-14
   days on market $499,000 Active 532 DOM
6. 2026-06-10
   days on market $499,000 Active 529 DOM
7. 2026-06-09
   days on market $499,000 Active 528 DOM
8. 2026-06-08
   days on market $499,000 Active 527 DOM
9. 2026-06-07
   days on market $499,000 Active 526 DOM
10. 2026-06-05
    days on market $499,000 Active 523 DOM
11. 2026-06-03
    days on market $499,000 Active 522 DOM
12. 2026-06-02
    days on market $499,000 Active 521 DOM
13. 2026-06-01
    days on market $499,000 Active 520 DOM
14. 2026-05-31
    days on market $499,000 Active 519 DOM
15. 2026-05-30
    days on market $499,000 Active 518 DOM
16. 2026-01-19
    status Active 914-char remark

    Show marketing remark (914 chars)

    Unlock the potential of this rare downtown Truckee redevelopment opportunity with ADU plans and endless possibilities. Thoughtfully designed by renowned local architect Dale Cox, the fully detailed plans revive one of Historic Truckee’s most versatile properties. Customize the space to fit your vision with options for a 1- or 2-bedroom residence featuring a private entrance on West River Street, plus a separate 1-bedroom ADU with its own Riverside Drive entrance. Property highlights a patio area, and two dedicated parking spaces. Looking for a live/work setup or investment property? The flexible design also allows an option for commercial space. Ideally situated in the heart of Downtown Truckee’s exciting downtown revitalization, enjoy easy access to the new park, pedestrian bridge to the Legacy Trail, and all the dining, shopping, and charm of Old Town Truckee. Seller financing available.

17. 2026-01-01
    historical 914-char remark

    Show marketing remark (914 chars)

    Unlock the potential of this rare downtown Truckee redevelopment opportunity with ADU plans and endless possibilities. Thoughtfully designed by renowned local architect Dale Cox, the fully detailed plans revive one of Historic Truckee’s most versatile properties. Customize the space to fit your vision with options for a 1- or 2-bedroom residence featuring a private entrance on West River Street, plus a separate 1-bedroom ADU with its own Riverside Drive entrance. Property highlights a patio area, and two dedicated parking spaces. Looking for a live/work setup or investment property? The flexible design also allows an option for commercial space. Ideally situated in the heart of Downtown Truckee’s exciting downtown revitalization, enjoy easy access to the new park, pedestrian bridge to the Legacy Trail, and all the dining, shopping, and charm of Old Town Truckee. Seller financing available.

18. 2024-12-09
    listed $499,000 Active 914-char remark

    Show marketing remark (914 chars)

    Unlock the potential of this rare downtown Truckee redevelopment opportunity with ADU plans and endless possibilities. Thoughtfully designed by renowned local architect Dale Cox, the fully detailed plans revive one of Historic Truckee’s most versatile properties. Customize the space to fit your vision with options for a 1- or 2-bedroom residence featuring a private entrance on West River Street, plus a separate 1-bedroom ADU with its own Riverside Drive entrance. Property highlights a patio area, and two dedicated parking spaces. Looking for a live/work setup or investment property? The flexible design also allows an option for commercial space. Ideally situated in the heart of Downtown Truckee’s exciting downtown revitalization, enjoy easy access to the new park, pedestrian bridge to the Legacy Trail, and all the dining, shopping, and charm of Old Town Truckee. Seller financing available.

19. 2022-10-08
    price $544,900
20. 2021-12-14
    price $599,000
21. 2016-05-28
    soldstatus Sold
22. 2016-05-26
    soldstatus $600,000
23. 2016-03-04
    status Pending
24. 2016-02-26
    historical
25. 2015-09-23
    status Active
26. 2015-06-22
    historical
27. 2014-08-05
    listed $250,000 Active

ⓘ 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: $7,081 · $590/mo
• Projected year-2 tax: $7,081 · $590/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 6/10 Major FEMA zone X (unshaded) · 72% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 2/10 Low 9 d/yr ≥87°F today · 24 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 16 unhealthy d/yr today · 18 by 30 yrs out

Taxation est. · year 1

• Rental income: $93,600
• − Mortgage interest: −$27,952
• − Property taxes: −$7,081
• − Insurance: −$2,495
• − Repairs & maintenance: −$7,488
• − Management: −$7,488
• − Depreciation: −$14,516
• Taxable income: $26,580
• Est. tax owed @ 24.0%: −$6,379
• After-tax cash flow: $26,587/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

+99.6% since first listed

12 events — show timeline

• 2026-01-19 Relisted — TSMLS
• 2026-01-01 Delisted — TSMLS
• 2024-12-09 Listed $499,000 TSMLS
• 2022-10-08 Price Changed $544,900 TSMLS
• 2021-12-14 Price Changed $599,000 TSMLS
• 2016-05-28 Sold (MLS) — TSMLS
• 2016-05-26 Sold (Public Records) $600,000 Public Records
• 2016-03-04 Pending — TSMLS
• 2016-02-26 Delisted — TSMLS
• 2015-09-23 Relisted — TSMLS
• 2015-06-22 Delisted — TSMLS
• 2014-08-05 Listed $250,000 TSMLS

Property tax history

+5.2%/yr

Latest (2025): $7,081 · +6.2% YoY. Source: county tax records.