1120 E Mission Rd #57 · Fallbrook, CA 92028

$279,000

3 bd · 2.0 ba · 1,431 sqft · Manufactured · 143 Days on market

Built 2025 3,936 sqft lot

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Why this score? — see what drove the C 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 +25.4/30.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• 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

EXCITING NEW HOME: 3 Bedroom (or 2+den/office space) 2 Bath manufactured home sits in one of Fallbrook's most desirable 55+ communities. With roughly 1,450 sq. ft. of well-planned living space, it showcases quartz counters, a full-height designer backsplash, stainless steel appliances, and a combination of durable LVP flooring throughout the living space and you have the option to add it in the bedrooms in lieu of the carpet. High efficiency central A/C and heat, a covered two-to-three car carport, and a generously sized backyard with a large concrete area. The front yard features an automatic irrigation system, keeping landscaping both attractive and low-maintenance. Whether you're sipping

Key facts

• Quartz counters
• Carpeted bedrooms
• Covered carport

Tags

• QUARTZ COUNTERS
• STAINLESS STEEL APPLIANCES
• DURABLE LVP FLOORING
• CARPETED BEDROOMS
• CENTRAL A/C
• COVERED CARPORT

Property features AI

Finance

• Other: Manager approval required for residency; Pets allowed with restrictions (call; breed restrictions)
• Financial info: Monthly land lease approximately $1,550 (park-provided amount)
• HOA & community: Senior community; Park name: Crestview Estates; Community features: curbs, dog park, hiking, street lighting; Land lease (park) applies

Exterior

• Parking: Attached carport (3 carport spaces); Concrete driveway; Total parking for 3 vehicles; Access via paved city streets
• Security: Carbon monoxide detector(s); Fire and smoke detection system; Resident manager (on-site management/approval required)
• Utilities: Public/district water; Public sewer; Natural gas connected; Electricity connected; Sewer connected; Water connected
• Home design: Mobile home (Skyliner model); Double body type; Single story; Turnkey condition; Entry at front door; Mobile dimensions approximately 27' x 56'
• Construction: Hardboard siding; Drywall interior walls; Cellulose insulation; Asphalt roof; Pillar/post/pier foundation with tie-down
• Exterior features: Front porch; Awning; Porch - front; In-ground fenced, filtered community pool; Porch and patio (has patio); Cement board skirting

Interior

• Kitchen: Kitchen open to family room; Kitchen island; Walk-in pantry; Quartz counters; Garbage disposal; Microwave; Warmer oven drawer; Self-cleaning oven; Free-standing range / Gas range; Refrigerator; Freezer; Dishwasher; Water line to refrigerator; Energy Star appliances
• Bedrooms: Primary bedroom with walk-in closet
• Flooring: Vinyl
• Bathrooms: Two full bathrooms; Double sinks in primary bath; Shower; Exhaust fan(s); Linen closet/storage
• Heating & cooling: Central heating and cooling; Natural gas heating; Forced air / central furnace; Energy Star-rated systems
• Interior features: Quartz counters; High (9+ feet) ceilings; Ceiling fan(s); Pantry; Recessed lighting; Open floor plan; Double-pane Energy Star windows with blinds and screens; Front door entry; One-level (single story); In-ground, heated community spa; Carbon monoxide and fire/smoke detectors; Resident manager
• Laundry & utility: Inside laundry room; Washer hookup; Gas dryer hookup; Individual laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $279k.

Deal economics

• At list price, monthly cash flow is $646 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $279k).
• Recommended offer: $246k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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: crime D-, amenities F, commute 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.
• Zoned schools: Fallbrook High (math 35% / reading 59%, grade D-, #389 of 1,170 statewide, top 35%, 1,924 students, 71% FRL).
• 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 35% 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 $2k of loan paydown is wiped out by about $8k 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.

Negotiation context

• It's been on market 143 days — a 12% lower offer ($246k) is reasonable based on typical stale-listing flexibility.

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 $245,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 143 days. Have you received any prior offers? Is the seller open to a 12% 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. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.17% ✓
• Cap rate: 9.07%
• Cash-on-cash: 9.93%
• DSCR: 1.44
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $154,548
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1120 E Mission Rd #102	0.03mi	2/2.0 (-1)	1,440 (+1%)	2mo	$429,000	$298	91
1120 E Mission Rd #37	0.00mi	2/2.0 (-1)	1,440 (+1%)	6mo	$75,000	$52	89
1120 E Mission Rd #27	0.03mi	2/2.0 (-1)	1,400 (-2%)	8mo	$139,000	$99	83
1120 E Mission Rd Space 94	0.00mi	2/2.0 (-1)	1,440 (+1%)	23mo	$155,000	$108	75
1120 E Mission Rd #69	0.03mi	3/2.0	1,620 (+13%)	8mo	$189,000	$117	70

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: -4.8%
• Equity multiple: 0.83×
• Total profit: $-13,557
• Equity at exit: $41,600

10-year hold

• IRR: 0.9%
• Equity multiple: 1.06×
• Total profit: $4,480
• Equity at exit: $24,123

Cash invested: $78,120 (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: 7.1×

Monthly cashflow live

• Estimated rent: $3,259 high
• Mortgage (P&I): −$1,463
• Tax est. 1.5%: −$349 /mo · $4,185/yr
• Insurance: −$116
• HOA: −$0
• Vacancy / Maint / Mgmt: −$684
• Net cashflow: $646

Break-even live

Break-even rent $2,441

Max offer price $279,000

Occupancy floor 75%

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: $69,750
• Closing costs: $8,370
• 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	2d	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	3d	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	2d	1	1.40mi

Listing history 16 events

1. 2026-06-18
   days on market $279,000 Active 143 DOM
2. 2026-06-17
   days on market $279,000 Active 142 DOM
3. 2026-06-16
   days on market $279,000 Active 141 DOM
4. 2026-06-15
   days on market $279,000 Active 140 DOM
5. 2026-06-13
   days on market $279,000 Active 138 DOM
6. 2026-06-13
   days on market $279,000 Active 137 DOM
7. 2026-06-09
   days on market $279,000 Active 134 DOM
8. 2026-06-08
   days on market $279,000 Active 133 DOM
9. 2026-06-07
   days on market $279,000 Active 132 DOM
10. 2026-06-04
    days on market $279,000 Active 129 DOM
11. 2026-06-03
    days on market $279,000 Active 128 DOM
12. 2026-06-02
    days on market $279,000 Active 127 DOM
13. 2026-06-02
    price $279,000 Active 126 DOM
14. 2026-06-01
    days on market $285,000 Active 126 DOM
15. 2026-05-31
    days on market $285,000 Active 125 DOM
16. 2026-01-26
    listed $285,000 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 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: $39,102
• − Mortgage interest: −$15,628
• − Property taxes: −$4,185
• − Insurance: −$1,395
• − Repairs & maintenance: −$3,128
• − Management: −$3,128
• − Depreciation: −$8,116
• Taxable income: $3,521
• Est. tax owed @ 24.0%: −$845
• After-tax cash flow: $6,909/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

1 event — show timeline

• 2026-01-26 Listed $285,000 CRMLS