200 N El Camino Real #193 · Oceanside, CA 92058

$139,000

2 bd · 1.5 ba · 797 sqft · Manufactured · 134 Days on market

Built 1974 Poor condition 3,300 sqft lot $174/sqft · 29% below area Est $195k · 29% under

---

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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

SPACE #193. Discover the potential of this 55+ mobile home, offering a unique opportunity to create your ideal living space. The residence includes two bedrooms and one and a half bathrooms, thoughtfully arranged within a 12’x60’ floor plan. An enclosed, attached deck enhances the available living space, offering flexibility for entertaining or relaxation. The home is available exclusively to cash buyers. An attractive advantage is the absence of property taxes. Space rent is RENT CONTROLLED, approximately $600 per month plus utilities. The property is being sold AS IS and has recently undergone significant updates, including a newly painted exterior, new windows, and replaced drywall. The kitchen and half bath have been removed, leaving a blank canvas for you to design and finish according to your personal preferences. Please note: The park does not permit flippers or investors, you must intend to reside in the home. Residents enjoy a level park ideal for walking and biking, fostering a vibrant and active lifestyle. The community is designed to offer active residents the opportunity to gather through numerous activities and events. Amenities include two pools, two clubhouses, two kitchens, card rooms, billiards, crafts, and pickleball courts. Social opportunities abound with regular parties, potlucks, exercise classes, and karaoke. Up to two small pets are welcome in the community. The park’s location offers easy access to essential services and leisure destinations. Just outside the entrance, you’ll find grocery stores, banks, Starbucks, a variety of restaurants, Walgreens, the Post Office, library, and the Oceanside Police Station. The property is situated approximately four miles from the ocean, harbor, picturesque pier, farmers markets, beach walks, street fairs, and theaters, providing endless options for recreation and entertainment.

Key facts

• Level park
• Replaced drywall
• Two pools

Tags

• ENCLOSED ATTACHED DECK
• NEWLY PAINTED EXTERIOR
• NEW WINDOWS
• REPLACED DRYWALL
• LEVEL PARK
• TWO POOLS

🏷️ Possibly a rental listed for sale. The $139,000 price doesn't fit this home's estimated sale value (~$195,000) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $139k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $975 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $139k).
• Recommended offer: $122k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.8% vs local median 2.5% in Oceanside — 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 64/100 on livability (#413 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A; Watch: crime D, cost of living F, health & safety D-.
• Oceanside Unified (suburban): math 31% / reading 51% proficiency, ranked #221 of 517 in CA (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Louise Foussat Elementary (525 students, 80% FRL); Jefferson Middle (466 students, 94% FRL); Oceanside High (math 24% / reading 45%, grade F, #618 of 1,170 statewide, top 56%, 1,907 students, 74% FRL) — zoned schools average 83% FRL vs 47% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.1%/yr); 69 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $961 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 ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 134 days — a 12% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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.
• Current owner paid $110k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A99 (mandatory federal flood insurance); extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $122,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 134 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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?
9. 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.
10. 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.
11. 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: 1.88% ✓
• Cap rate: 15.79%
• Cash-on-cash: 33.91%
• DSCR: 2.51
• GRM: 4.4

CMA / ARV

• ARV (median comp): $195,000
• List price: $139,000
• Delta: -28.72%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
221 N El Camino Real #54	0.24mi	2/1.0	720 (-10%)	3mo	$195,000	$271	68
141 Douglas Dr #77	0.39mi	2/1.0	849 (+6%)	17mo	$175,000	$206	55
65 Madra Ln	0.35mi	1/1.0 (-1)	900 (+13%)	17mo	$195,000	$217	41

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: 21.0%
• Equity multiple: 1.82×
• Total profit: $32,017
• Equity at exit: $20,725

10-year hold

• IRR: 26.9%
• Equity multiple: 3.02×
• Total profit: $78,737
• Equity at exit: $12,018

Cash invested: $38,920 (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 92058

• Home prices YoY: -34.9%
• Rents YoY: -0.1%
• Active inventory: 69
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $2,608 high
• Mortgage (P&I): −$729
• Tax est. 1.5%: −$174 /mo · $2,085/yr
• Insurance: −$58
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$548
• Net cashflow: $975

Break-even live

Break-even rent $1,374

Max offer price $139,000

Occupancy floor 58%

Sensitivity live

Price	-10% $1,071	-5% $1,023	+0% $975	+5% $926	+10% $878
Rent	-10% $768	-5% $872	+0% $975	+5% $1,078	+10% $1,181
Rate	-1.0pp $1,045	-0.5pp $1,010	base $975	+0.5pp $939	+1.0pp $902

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
200 N El Camino Real #291 Oceanside, CA	2.0	1.0	756	$2,055	$2.72	25d	1	0.01mi
266 N El Camino Real Oceanside, CA	2.0	1.0	865	$2,500	$2.89	13d	4	0.20mi
550 Los Arbolitos Blvd Oceanside, CA	1.0–3.0	1.0–2.0	933	$2,676	$2.87	0d	19	0.21mi
615 Fredricks Ave #166 Oceanside, CA	2.0	2.0	1000	$2,650	$2.65	45d	1	0.23mi
615 Fredricks Ave Unit 2nd floor Oceanside, CA	2.0	2.0	1000	$2,650	$2.65	25d	1	0.23mi
612 Los Arbolitos Blvd Oceanside, CA	2.0–3.0	2.0	1076	$2,682	$2.49	0d	3	0.27mi
283 Douglas Dr Oceanside, CA	2.0–3.0	2.0	1017	$2,419	$2.38	0d	8	0.50mi
263 San Dimas Ave Oceanside, CA	2.0	2.0	908	$3,850	$4.24	45d	1	0.79mi
3891 San Ramon Dr Oceanside, CA	1.0–2.0	1.0–2.0	814	$2,908	$3.57	0d	23	0.81mi
3685 Vista Campana N #74 Oceanside, CA	2.0	2.0	1099	$2,550	$2.32	25d	1	0.90mi
264 Rancho Del Oro Dr Oceanside, CA	2.0	1.0–2.0	988	$2,773	$2.81	0d	15	0.92mi
359 San Dimas Ave Oceanside, CA	2.0	1.0	820	$3,000	$3.66	22d	1	0.96mi
4398 Rainier Way Oceanside, CA	1.0–2.0	1.0–2.0	827	$2,750	$3.32	3d	6	0.98mi
771 Iverson Point Way Oceanside, CA	2.0	1.5	1104	$3,050	$2.76	0d	1	1.09mi
771 Iverson Point Way Oceanside, CA	2.0	1.5	1104	$3,050	$2.76	16d	1	1.09mi
3625 Dearborn St Oceanside, CA	2.0	1.5	1050	$3,000	$2.86	14d	1	1.28mi
4243 Arroyo Vista Way #330 Oceanside, CA	2.0	2.0	791	$3,700	$4.68	45d	1	1.30mi
4251 Arroyo Vista Way #344 Oceanside, CA	3.0	2.0	1094	$3,850	$3.52	45d	1	1.33mi
3901 Mesa Dr Oceanside, CA	1.0–3.0	1.0–2.0	846	$2,755	$3.26	0d	19	1.44mi
319 Garrison St Oceanside, CA	1.0	1.0	580	$2,142	$3.69	23d	2	1.47mi

Listing history 19 events

1. 2026-06-21
   days on market $139,000 Active 134 DOM
2. 2026-06-18
   days on market $139,000 Active 131 DOM
3. 2026-06-17
   days on market $139,000 Active 130 DOM
4. 2026-06-16
   days on market $139,000 Active 129 DOM
5. 2026-06-15
   days on market $139,000 Active 128 DOM
6. 2026-06-13
   days on market $139,000 Active 126 DOM
7. 2026-06-13
   days on market $139,000 Active 125 DOM
8. 2026-06-09
   days on market $139,000 Active 122 DOM
9. 2026-06-08
   days on market $139,000 Active 121 DOM
10. 2026-06-07
    days on market $139,000 Active 120 DOM
11. 2026-06-04
    days on market $139,000 Active 117 DOM
12. 2026-06-03
    days on market $139,000 Active 116 DOM
13. 2026-06-02
    days on market $139,000 Active 115 DOM
14. 2026-06-01
    days on market $139,000 Active 114 DOM
15. 2026-05-31
    days on market $139,000 Active 113 DOM
16. 2026-02-06
    listed $139,000 Active 1896-char remark

    Show marketing remark (1896 chars)

    SPACE #193. Discover the potential of this 55+ mobile home, offering a unique opportunity to create your ideal living space. The residence includes two bedrooms and one and a half bathrooms, thoughtfully arranged within a 12’x60’ floor plan. An enclosed, attached deck enhances the available living space, offering flexibility for entertaining or relaxation. The home is available exclusively to cash buyers. An attractive advantage is the absence of property taxes. Space rent is RENT CONTROLLED, approximately $600 per month plus utilities. The property is being sold AS IS and has recently undergone significant updates, including a newly painted exterior, new windows, and replaced drywall. The kitchen and half bath have been removed, leaving a blank canvas for you to design and finish according to your personal preferences. Please note: The park does not permit flippers or investors, you must intend to reside in the home. Residents enjoy a level park ideal for walking and biking, fostering a vibrant and active lifestyle. The community is designed to offer active residents the opportunity to gather through numerous activities and events. Amenities include two pools, two clubhouses, two kitchens, card rooms, billiards, crafts, and pickleball courts. Social opportunities abound with regular parties, potlucks, exercise classes, and karaoke. Up to two small pets are welcome in the community. The park’s location offers easy access to essential services and leisure destinations. Just outside the entrance, you’ll find grocery stores, banks, Starbucks, a variety of restaurants, Walgreens, the Post Office, library, and the Oceanside Police Station. The property is situated approximately four miles from the ocean, harbor, picturesque pier, farmers markets, beach walks, street fairs, and theaters, providing endless options for recreation and entertainment.

17. 2023-11-15
    soldstatus $110,000 Sold 699-char remark

    Show marketing remark (699 chars)

    FIXER OPPORTUNITY ALL CASH BUYERS Rent Control 55+ Senior Community Rancho San Luis Rey. Space rent is only $583/mo. 3br 2ba. 920 sq ft. The home is in need of some upgrading. Spacious open living room area. Great location in the park on nicely maintained street with lots of room in the backyard area. Park has 2 pools, 2 clubhouses, tennis courts, pickleball, parties, potlucks, and lots of other fun activities. 2 small pets allowed. Management approval requires good credit and minimum of $2000 a month income. This park does not not allow investors or flippers. Located about 5 miles from the beach and harbor. Lots of nearby restaurants, shopping, banks, near 76 freeway and N El Camino Real.

18. 2023-07-17
    status Pending 699-char remark

    Show marketing remark (699 chars)

    FIXER OPPORTUNITY ALL CASH BUYERS Rent Control 55+ Senior Community Rancho San Luis Rey. Space rent is only $583/mo. 3br 2ba. 920 sq ft. The home is in need of some upgrading. Spacious open living room area. Great location in the park on nicely maintained street with lots of room in the backyard area. Park has 2 pools, 2 clubhouses, tennis courts, pickleball, parties, potlucks, and lots of other fun activities. 2 small pets allowed. Management approval requires good credit and minimum of $2000 a month income. This park does not not allow investors or flippers. Located about 5 miles from the beach and harbor. Lots of nearby restaurants, shopping, banks, near 76 freeway and N El Camino Real.

19. 2023-06-30
    listed $125,000 Active 699-char remark

    Show marketing remark (699 chars)

    FIXER OPPORTUNITY ALL CASH BUYERS Rent Control 55+ Senior Community Rancho San Luis Rey. Space rent is only $583/mo. 3br 2ba. 920 sq ft. The home is in need of some upgrading. Spacious open living room area. Great location in the park on nicely maintained street with lots of room in the backyard area. Park has 2 pools, 2 clubhouses, tennis courts, pickleball, parties, potlucks, and lots of other fun activities. 2 small pets allowed. Management approval requires good credit and minimum of $2000 a month income. This park does not not allow investors or flippers. Located about 5 miles from the beach and harbor. Lots of nearby restaurants, shopping, banks, near 76 freeway and N El Camino Real.

ⓘ 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 1/10 Low FEMA zone A99 · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥86°F today · 24 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,296
• − Mortgage interest: −$7,786
• − Property taxes: −$2,085
• − Insurance: −$2,198
• − Repairs & maintenance: −$2,504
• − Management: −$2,504
• − Depreciation: −$4,044
• Taxable income: $10,176
• Est. tax owed @ 24.0%: −$2,442
• After-tax cash flow: $9,252/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 · 8 photos

Poor 20/100 Extensive rehab

This mobile home requires extensive repairs and updates to become move-in ready. Significant work is needed to address electrical issues and improve the overall condition.

Repairs flagged

• Major Exposed wiring — Safety hazard
• Major Cluttered countertops — Aesthetic and functionality issues

Value-add opportunities

• Both Painting — Enhances curb appeal and interior aesthetics
• Both Electrical inspection and repairs — Ensures safety and functionality

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exposed wiring · Safety hazard	Major	$15,000–50,000
Cluttered countertops · Aesthetic and functionality issues	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both Painting — Enhances curb appeal and interior aesthetics ↑
• Both Electrical inspection and repairs — Ensures safety and functionality ↑

ⓘ 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: Oceanside Unified
• NCES district ID: 0628250
• Math proficiency: 31% ▼ -5.00%
• Reading proficiency: 51% ▲ 6.00%
• Median HH income: $55,158
• Composite: 35.74/100
• National rank: #4853
• State rank: #221 of 517 in CA

Livability — Oceanside

• Score: 64/100
• State rank: #413
• US rank: #14081

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oceanside, CA
• County: San Diego County · 3,178,799 people
• City population: 198,702
• Metro: San Diego-Chula Vista-Carlsbad, CA
• Population (ZIP): 49,834
• Household income: $69,970
• Rent vs Own: 74.6% rent · 25.4% own
• Severe rent burden: 4169.0

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: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: Hispanic / Latino 43% White 38% Two or more races 25% Black 6% Asian 5% Native American 1%
• Hispanic origin (detail): Mexican 34% Puerto Rican 2%
• Common ancestry: Italian 4% Lithuanian 1% Romanian 1%
• Foreign-born: 15% · Canada, Vietnam, Jamaica
• Languages at home: 68% English-only · Spanish 26% Tagalog/Filipino 2% Other Asian/Pacific 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: ▼ -223.54%
• Current HPI: 417.6464
• Rent YoY: ▼ -0.11%
• 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

+11.2% since first listed

4 events — show timeline

• 2026-02-06 Listed $139,000 CRMLS
• 2023-11-15 Sold (MLS) $110,000 SDMLS
• 2023-07-17 Pending — SDMLS
• 2023-06-30 Listed $125,000 SDMLS