187 Ballard St #36 · El Cajon, CA 92019

$139,900

2 bd · 2.0 ba · 693 sqft · Manufactured · 65 Days on market

Built 2022 Good condition

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Why this score? — see what drove the B 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Condition / age +4.0/5.0
• Livability +3.5/5.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks

This 2022 Fleetwood manufactured home has 2 bedrooms and 2 bathrooms and is approximate 693 sq ft. With the open, modern floor plan the living space seems like so much more. Enjoy cooking in this stylish kitchen. With solid surface countertops, stainless steel undermount kitchen sink, and brand new appliances. The bathrooms also feature solid surface countertops and rectangular undermount sinks. The bedrooms are carpeted and the remainder of the manufactured home is waterproof vinyl plank flooring. Other upgrades include window coverings, ceiling fans, recessed canned lighting throughout, and many windows for natural lighting.

Key facts

• Community pool
• Built 2022
• Listed 65 days

Property features AI

Finance

• Other: Park name: El Cajon Mobile Home Park; Access via paved city streets; directions: off Main & Ballard
• Financial info: Land lease fee: $1,225 monthly (park listed as source)
• HOA & community: Located in El Cajon Mobile Home Park; Community features include street lighting and a fenced community pool; Park requires manager approval; Pets allowed with size, breed and number restrictions

Exterior

• Parking: Assigned parking; Street parking (no driveway)
• Security: Smoke and carbon monoxide detectors (listed under interior features)
• Utilities: Public/district water; Public sewer (sewer connected); Standard electric service (electricity connected); Cable available; Telephone service available
• Home design: Single-story mobile home; Model: Canyon Lake; Turnkey condition; Two or more access exits; Total of 1 story
• Construction: Composition roof; Hardboard siding; Drywall interior walls; Pier jacks foundation; Mobile home dimensions approximately 18 ft by 38 ft
• Exterior features: Patio; Rain gutters; Exterior lighting; In-ground community pool with fencing; Cement board skirting

Interior

• Kitchen: Gas range; Microwave; Refrigerator with ice maker; Dishwasher; Garbage disposal; Water line to refrigerator; Water heater unit; Stone counters; Self-closing cabinet doors and drawers
• Bedrooms: All bedrooms on the main level
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms; Showers in tubs; Stone counters in baths; Exhaust fans
• Heating & cooling: Forced air heating
• Interior features: Ceiling fan; Recessed lighting; Open floor plan; Stone counters; Mirrored closet doors; Panel doors; Shutters, blinds and window screens; Carbon monoxide and smoke detectors; One-level entry
• Laundry & utility: Laundry in community facility

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $140k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $726 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $132k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.5% vs local median 2.4% in El Cajon — 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 70/100 on livability (#230 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+; Watch: health & safety C-, crime D+, cost of living F.
• Grossmont Union High (suburban): math 31% / reading 60% proficiency, ranked #173 of 517 in CA (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 17% free/reduced lunch — higher-income household profile.
• Market conditions: Rents soft (-2.6%/yr); 137 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 11,759 units permitted in San Diego County in 2024 (7,244 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• San Diego County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $39k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $131,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.53% ✓
• Cap rate: 12.52%
• Cash-on-cash: 22.23%
• DSCR: 1.99
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $79,695
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1174 E Main St #62	0.18mi	2/2.0	691 (-0%)	2mo	$175,000	$253	89
410 S 1st St Spc 145	0.40mi	2/1.5	742 (+7%)	5mo	$85,575	$115	63
998 E Main St #46	0.47mi	3/1.5 (+1)	676 (-2%)	9mo	$135,000	$200	60
410 S 1st St #30	0.39mi	2/1.0	784 (+13%)	4mo	$85,000	$108	52
1425 E Madison Ave #18	0.71mi	2/1.0	748 (+8%)	1mo	$147,000	$197	49
150 S Anza St #41	0.45mi	2/1.0	600 (-13%)	20mo	$35,000	$58	36
1285 E Washington Ave #51	0.68mi	1/1.0 (-1)	624 (-10%)	15mo	$65,000	$104	30

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 11.6%
• Equity multiple: 1.44×
• Total profit: $17,311
• Equity at exit: $20,860

10-year hold

• IRR: 18.0%
• Equity multiple: 2.29×
• Total profit: $50,465
• Equity at exit: $12,096

Cash invested: $39,172 (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 92019

• Rents YoY: -2.6%
• Active inventory: 137
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $2,143 high
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,098/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$450
• Net cashflow: $726

Break-even live

Break-even rent $1,224

Max offer price $139,900

Occupancy floor 61%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
187 Ballard St El Cajon, CA	1.0–2.0	1.0–2.0	542	$2,150	$3.97	1d	2	0.05mi
233 Shady Ln El Cajon, CA	1.0	1.0	650	$1,795	$2.76	1d	1	0.27mi
180 N 1st St El Cajon, CA	1.0–2.0	1.0–2.0	830	$2,125	$2.56	1d	3	0.29mi
1041-89 E Lexington Ave El Cajon, CA	1.0–2.0	1.0–2.0	838	$2,425	$2.89	1d	8	0.30mi
368 Orlando St #21 El Cajon, CA	1.0	1.0	692	$1,850	$2.67	10d	1	0.31mi
368 Orlando St El Cajon, CA	1.0	1.0	692	$1,850	$2.67	1d	1	0.31mi
301 Shady Ln El Cajon, CA	1.0–2.0	1.0	720	$2,250	$3.12	1d	8	0.32mi
1037 E Lexington Ave El Cajon, CA	1.0–3.0	1.0–2.0	855	$2,225	$2.60	1d	5	0.33mi
1018 E Lexington Ave El Cajon, CA	1.0	1.0	670	$1,800	$2.69	1d	1	0.36mi
359 N 1st St Apt 8 El Cajon, CA	1.0	1.0	500	$1,575	$3.15	1d	1	0.38mi
360 N 1st St El Cajon, CA	2.0	2.0	725	$1,995	$2.75	16d	1	0.40mi
422 Shady Ln El Cajon, CA	1.0–3.0	1.0–2.0	900	$2,304	$2.56	1d	18	0.41mi
291 Jamacha Rd El Cajon, CA	1.0–2.0	1.0	825	$2,095	$2.54	1d	4	0.42mi
421 Shady Ln El Cajon, CA	1.0	1.0	575	$1,708	$2.97	1d	3	0.43mi
541 N 1st St Apt 14 El Cajon, CA	1.0	1.0	550	$1,550	$2.82	1d	1	0.52mi
588 S Anza St El Cajon, CA	1.0–2.0	1.0	767	$2,100	$2.74	1d	6	0.53mi
1382 Ivory Ct Unit 1382B El Cajon, CA	1.0	1.0	550	$1,625	$2.95	1d	1	0.54mi
233 N Mollison Ave El Cajon, CA	1.0–2.0	1.0–2.0	843	$2,202	$2.61	1d	10	0.56mi
421 S Mollison Ave El Cajon, CA	1.0–2.0	1.0	726	$1,900	$2.62	1d	2	0.57mi
279 S Mollison Ave El Cajon, CA	1.0	1.0	570	$1,950	$3.42	1d	1	0.58mi
150 S Mollison Ave El Cajon, CA	1.0	1.0	515	$1,800	$3.50	1d	1	0.60mi
390 S Mollison Ave El Cajon, CA	1.0	1.0	750	$1,725	$2.30	1d	1	0.62mi
280 N Mollison Ave El Cajon, CA	1.0–2.0	1.0	825	$2,195	$2.66	1d	1	0.66mi
1360 E Madison Ave El Cajon, CA	1.0–2.0	1.0	550	$2,595	$4.72	1d	22	0.67mi
1343 Oakdale Ave El Cajon, CA	1.0–2.0	1.0–2.0	800	$2,195	$2.74	1d	1	0.68mi
917 E Madison Ave El Cajon, CA	2.0	1.0	750	$2,195	$2.93	1d	1	0.69mi
545 N Mollison Ave El Cajon, CA	2.0	1.0	700	$2,000	$2.86	7d	9	0.73mi
545 N Mollison Ave El Cajon, CA	2.0	1.0	700	$2,028	$2.90	1d	11	0.73mi
523 Grape St El Cajon, CA	1.0	1.0	648	$1,695	$2.62	1d	2	0.74mi
444 S Lincoln Ave El Cajon, CA	2.0	1.0	748	$2,000	$2.67	23d	1	0.78mi
633 E Park Ave El Cajon, CA	1.0	1.0	650	$1,675	$2.58	10d	1	0.84mi
633 E Park Ave Unit 12 El Cajon, CA	1.0	1.0	650	$1,675	$2.58	17d	1	0.84mi
570 S Lincoln Ave El Cajon, CA	1.0–2.0	1.0	745	$2,475	$3.32	2d	2	0.84mi
1037 Peach Ave El Cajon, CA	1.0	1.0	560	$1,694	$3.03	1d	4	0.90mi
195 Ballantyne St Unit 8 El Cajon, CA	1.0	1.0	500	$1,650	$3.30	7d	1	0.92mi
181 Ballantyne St Unit 15 El Cajon, CA	2.0	2.0	750	$2,500	$3.33	7d	1	0.92mi
181 Ballantyne St Apt 12 El Cajon, CA	2.0	1.0	583	$2,067	$3.55	5d	1	0.92mi
1019 Peach Ave El Cajon, CA	1.0–2.0	1.0–2.0	700	$2,161	$3.09	1d	8	0.92mi
200 Taft Ave El Cajon, CA	2.0	2.0	700	$2,175	$3.11	1d	6	0.92mi
798 McClure St Apt 7 El Cajon, CA	1.0	1.0	570	$1,595	$2.80	1d	1	0.96mi

Listing history 17 events

1. 2026-06-18
   days on market $139,900 Active 65 DOM
2. 2026-06-17
   days on market $139,900 Active 64 DOM
3. 2026-06-16
   days on market $139,900 Active 63 DOM
4. 2026-06-15
   days on market $139,900 Active 62 DOM
5. 2026-06-13
   days on market $139,900 Active 60 DOM
6. 2026-06-13
   days on market $139,900 Active 59 DOM
7. 2026-06-09
   days on market $139,900 Active 56 DOM
8. 2026-06-08
   days on market $139,900 Active 55 DOM
9. 2026-06-07
   days on market $139,900 Active 54 DOM
10. 2026-06-04
    days on market $139,900 Active 51 DOM
11. 2026-06-03
    days on market $139,900 Active 50 DOM
12. 2026-06-02
    days on market $139,900 Active 49 DOM
13. 2026-06-01
    days on market $139,900 Active 48 DOM
14. 2026-05-31
    days on market $139,900 Active 47 DOM
15. 2026-04-14
    listed $139,900 Active
16. 2022-09-21
    historical
17. 2022-08-24
    listed $129,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥99°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,711
• − Mortgage interest: −$7,837
• − Property taxes: −$2,098
• − Insurance: −$700
• − Repairs & maintenance: −$2,057
• − Management: −$2,057
• − Depreciation: −$4,070
• Taxable income: $6,893
• Est. tax owed @ 24.0%: −$1,654
• After-tax cash flow: $7,056/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.

Condition & rehab AI · 5 photos

Good 80/100 Cosmetic rehab

This 2022 Fleetwood manufactured home is in good condition with modern updates and a good curb appeal. It is ready for immediate occupancy and can be further enhanced with exterior painting and landscaping.

Value-add opportunities

• Both Painting the exterior — Enhances curb appeal and can increase both resale and rental value.
• Both Landscaping the front yard — Improves curb appeal and can attract more potential buyers or renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Landscaping the front yard — Improves curb appeal and can attract more potential buyers or renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Grossmont Union High
• NCES district ID: 0616230
• Math proficiency: 31% ▼ -1.00%
• Reading proficiency: 60% ▲ 5.00%
• Median HH income: $61,801
• Composite: 40.07/100
• National rank: #3810
• State rank: #173 of 517 in CA

Livability — El Cajon

• Score: 70/100
• State rank: #230
• US rank: #7531

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: El Cajon, CA
• County: San Diego County · 3,178,799 people
• City population: 173,694
• Metro: San Diego-Chula Vista-Carlsbad, CA
• Population (ZIP): 45,351
• Household income: $101,973
• Rent vs Own: 33.6% rent · 66.4% own
• Severe rent burden: 1897.0

Population outlook (San Diego County) Hauer SSP2

• Today (2025): 3,678,185 people
• By 2030: 3,856,546 · +4.8%
• By 2040: 4,171,407 · +13.4%
• By 2050: 4,421,607 · +20.2%
• By 2075: 4,831,599 · +31.4%
• By 2100: 4,832,502 · +31.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Hispanic / Latino 21% Two or more races 15% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 19%
• Common ancestry: Arab 6% Romanian 2% Lithuanian 2%
• Foreign-born: 22% · Canada, China
• Languages at home: 69% English-only · Spanish 11% Arabic 10% Other Indo-European 1%

Political lean MEDSL · San Diego

• 2024 margin: D (+16.8) · D 56.9% · R 40.1% · Other 2.9%
• 2008→2024 swing: +6.6pp toward D · 2008: 10.2pp · 2024: 16.8pp
• All cycles: 2024: D+16.8 2020: D+22.8 2016: D+17.8 2012: D+5.1 2008: D+10.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -553.81%
• Current HPI: 349.3085
• Rent YoY: ▼ -2.61%
• Metro: San Diego-Chula Vista-Carlsbad, 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

+7.7% since first listed

3 events — show timeline

• 2026-04-14 Listed $139,900 CRMLS
• 2022-09-21 Listing Removed — CRMLS
• 2022-08-24 Listed $129,900 CRMLS