Older/flood-adjacent inner pockets (deep value)

The lowest entry prices and highest paper yields in the metro, in older pockets with scattered reinvestment, some with Truckee River flood exposure.

Expansive-soil foundation/sewer issues, flood exposure, and deferred maintenance concentrate here; advertised returns rarely survive the real repair, insurance, and management picture for a remote owner.

Investors who understand that the highest advertised yields often come with the highest execution risk.