1120 E Mission Rd #27 · Fallbrook, CA 92028

$80,000

2 bd · 2.0 ba · 1,400 sqft · Manufactured · 7 Days on market

Built 1969 Est $151k · 47% under ↓ 60% since listing

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.9/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Livability +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * Updated 2-Bedroom, 2-Bathroom Mobile Home in 55+ Community * * Discover this beautifully updated 2-bed, 2-bath, 1,400 sq. ft. mobile home in the sought-after Crestview Hills 55+ park. Light-filled living areas create an inviting atmosphere, and the modern kitchen and bathrooms provide style and comfort. A separate laundry room with outside access adds convenience. The landscaped backyard features a patio cover—perfect for outdoor relaxation or gardening. Off-street parking is included. Enjoy the park’s impressive amenities, including a clubhouse, swimming pool, spa, billiard room, library, fitness center, and laundry facilities. This home offers the perfect blend of indoor and outdoor living in a vibrant, active community. Don’t miss out!

Key facts

• Fitness center
• Swimming pool
• Modern kitchen

Tags

• MODERN KITCHEN
• SEPARATE LAUNDRY ROOM
• OFF-STREET COVERED PARKING
• SWIMMING POOL
• FITNESS CENTER
• INDOOR AND OUTDOOR LIVING

Property features AI

Finance

• Financial info: Land lease: $1,375 monthly (land lease purchase available)
• HOA & community: Senior community; Community of 106 units; Suburban neighborhood

Exterior

• Parking: 2 total parking spaces; 2 carport spaces
• Utilities: Public sewer
• Home design: Single-story residence; No shared/common walls; Residential zoning
• Construction: Parcel number 1055900900
• Exterior features: Community pool; 0–1 unit per acre lot character

Interior

• Bedrooms: Primary bedroom
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central furnace heating; Wall/window cooling
• Interior features: One-level home; Front or side door entry
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $80k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $80k).
• Cap rate 33.6% vs local median 2.4% in Fallbrook — 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 42/100 on livability (#1,364 in CA) — a working-class tenant base; expect higher turnover. Watch: schools D+, crime D-, amenities F.
• Fallbrook Union High (suburban): math 32% / reading 58% proficiency, ranked #183 of 517 in CA (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-0.3%/yr); 345 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 11,759 units permitted in San Diego County in 2024 (7,244 in 5+ unit buildings).
• This rent runs 32% of the median local income ($111k/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 $553 of loan paydown is wiped out by about $2k 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 $22k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 2y 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: major wildfire risk; extreme-heat days projected 5→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $80,000

Questions for the listing agent

1. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 3.75% ✓
• Cap rate: 33.58%
• Cash-on-cash: 97.46%
• DSCR: 5.34
• GRM: 2.2

CMA / ARV

• ARV (on-the-fly): $151,200
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1120 E Mission Rd #102	0.00mi	2/2.0	1,440 (+3%)	2mo	$429,000	$298	93
1120 E Mission Rd #27	0.00mi	2/2.0	1,400 (0%)	8mo	$139,000	$99	93
1120 E Mission Rd #37	0.03mi	2/2.0	1,440 (+3%)	6mo	$75,000	$52	89
1120 E Mission Rd Space 94	0.03mi	2/2.0	1,440 (+3%)	23mo	$155,000	$108	75

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: 95.0%
• Equity multiple: 5.20×
• Total profit: $94,155
• Equity at exit: $11,928

10-year hold

• IRR: 97.2%
• Equity multiple: 9.81×
• Total profit: $197,369
• Equity at exit: $6,917

Cash invested: $22,400 (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 92028

• Rents YoY: -0.3%
• Active inventory: 345
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $3,003 high
• Mortgage (P&I): −$420
• Tax est. 1.5%: −$100 /mo · $1,200/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$631
• Net cashflow: $1,819

Break-even live

Break-even rent $700

Max offer price $80,000

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
421 Potter St Fallbrook, CA	1.0–2.0	1.0–2.0	726	$2,100	$2.89	1d	2	0.69mi
757 N Stage Coach Ln Fallbrook, CA	3.0	2.0	1508	$3,900	$2.59	22d	1	0.70mi
338 E Fallbrook St Fallbrook, CA	2.0	2.0	976	$2,495	$2.56	2d	1	0.91mi
611 Summit Ave Fallbrook, CA	3.0	2.0	1506	$3,500	$2.32	10d	1	1.28mi
744 W Fallbrook St Fallbrook, CA	1.0–2.0	1.0–2.0	780	$2,200	$2.82	1d	1	1.40mi

Listing history 7 events

1. 2026-06-18
   days on market $80,000 Active 7 DOM
2. 2026-06-17
   days on market $80,000 Active 6 DOM
3. 2026-06-16
   days on market $80,000 Active 5 DOM
4. 2026-06-15
   days on market $80,000 Active 4 DOM
5. 2026-06-13
   days on market $80,000 Active 2 DOM
6. 2026-06-13
   remarks 693-char remark
7. 2026-06-13
   listed $80,000 Active 1 DOM

ⓘ 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 X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 6/10 Major 5 d/yr ≥94°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,033
• − Mortgage interest: −$4,481
• − Property taxes: −$1,200
• − Insurance: −$400
• − Repairs & maintenance: −$2,883
• − Management: −$2,883
• − Depreciation: −$2,327
• Taxable income: $21,859
• Est. tax owed @ 24.0%: −$5,246
• After-tax cash flow: $16,586/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: Fallbrook Union High
• NCES district ID: 0613530
• Math proficiency: 32% ▲ 11.00%
• Reading proficiency: 58% ▲ 9.00%
• Median HH income: $56,644
• Composite: 39.17/100
• National rank: #4025
• State rank: #183 of 517 in CA

Livability — Fallbrook

• Score: 42/100
• State rank: #1364
• US rank: #27057

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fallbrook, CA
• County: San Diego County · 3,178,799 people
• City population: 52,227
• Metro: San Diego-Chula Vista-Carlsbad, CA
• Population (ZIP): 52,227
• Household income: $111,290
• Rent vs Own: 28.5% rent · 71.5% own
• Severe rent burden: 1384.0

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 0.59)
• Race & ethnicity: White 48% Hispanic / Latino 42% Two or more races 21% Asian 4% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 35%
• Common ancestry: Slovak 2% Italian 2% Romanian 2%
• Foreign-born: 21% · Canada, Vietnam, China
• Languages at home: 66% English-only · Spanish 29% Tagalog/Filipino 1% 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: ▼ -533.50%
• Current HPI: 320.7162
• Rent YoY: ▼ -0.35%
• 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

-60.0% since first listed

19 events — show timeline

• 2026-06-11 Listed $80,000 CRMLS
• 2025-10-15 Sold (MLS) $139,000 CRMLS
• 2025-10-11 Pending — CRMLS
• 2025-10-02 Relisted — CRMLS
• 2025-09-04 Pending — CRMLS
• 2025-06-29 Listed $139,900 CRMLS
• 2025-06-25 Listing Removed — CRMLS
• 2025-06-19 Price Changed $139,900 CRMLS
• 2025-05-30 Price Changed $149,999 CRMLS
• 2025-05-23 Listed $149,990 CRMLS
• 2025-05-21 Listing Removed — CRMLS
• 2025-05-09 Price Changed $149,990 CRMLS
• 2025-04-15 Price Changed $150,000 CRMLS
• 2025-04-09 Listing Removed — CRMLS
• 2025-04-09 Listed $165,900 CRMLS
• 2025-03-27 Price Changed $165,900 CRMLS
• 2025-01-22 Listing Removed — CRMLS
• 2025-01-22 Listed $189,990 CRMLS
• 2024-09-27 Listed $199,999 CRMLS