400 N MELROSE Dr #22 · Vista, CA 92083

$250,000

2 bd · 2.0 ba · 960 sqft · Manufactured public records · 20 Days on market

Built 1984 6.27 ac lot Est $265k · 6% under

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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 +26.5/30.0
• ARV discount +10.0/15.0
• DSCR +9.1/10.0
• 1% rule +5.8/10.0
• Schools +4.0/10.0
• Rent growth +3.4/5.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this lovely upgraded two-bedroom, two full bath home. As you step in from the entry way you will find a large living room & dining area. The high ceilings give out plenty of natural lights. By the dining area, you will find kitchen with new countertops. There is an extra area where you can call "Home Office" or "Playroom". You will find the spacious laundry room that has a door that leads to the carport. Home is located in a desirable all age community. Near shopping centers, schools and freeways. The community has a Clubhouse for your fun events and a sparkling pool.

Key facts

• 6.27 acre lot
• 2 parking spots
• Community pool

Property features AI

Finance

• Other: Parcel number 7716327122
• HOA & community: Land lease of $850

Exterior

• Parking: 2 parking spaces; 2 carport spaces; Located in The Palms MHP
• Utilities: Water: see remarks
• Home design: Mobile home (20' x 48'); Single-story
• Construction: Mobile home remains on property
• Exterior features: Community pool; Street lighting; Corner lot

Interior

• Kitchen: Kitchen
• Bathrooms: 2 full bathrooms
• Heating & cooling: Zoned cooling
• Interior features: One-level home; Located on the first floor; Family room; Has a view
• Laundry & utility: Washer hookup; Gas dryer hookup; Has laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $250k.

Deal economics

• At list price, monthly cash flow is $662 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $246k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 2.4% in Vista — 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 60/100 on livability (#584 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A-; Watch: schools F, amenities F, cost of living F.
• Vista Unified (suburban): math 32% / reading 59% proficiency, ranked #175 of 517 in CA (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.4%/yr); 74 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 11,759 units permitted in San Diego County in 2024 (7,244 in 5+ unit buildings).
• This rent runs 37% of the median local income ($87k/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.
• At projected returns (-3.0% appreciation + 3.4% rent growth), your $70k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($246k) 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.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $246,250 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. 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.
4. 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.
5. 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: 1.08% ✓
• Cap rate: 9.47%
• Cash-on-cash: 11.35%
• DSCR: 1.51
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $264,960
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
400 N Melrose #18	0.00mi	3/2.0 (+1)	920 (-4%)	2mo	$291,000	$316	87
400 N Melrose Dr Spc 40	0.00mi	3/1.5 (+1)	840 (-12%)	3mo	$231,000	$275	69
200 Olive Ave #104	0.52mi	2/2.0	1,080 (+12%)	10mo	$170,000	$157	47
200 Olive Ave #33	0.45mi	3/2.0 (+1)	868 (-10%)	19mo	$240,000	$276	42

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 · 3.44% rent growth · sell at horizon

5-year hold

• IRR: 1.0%
• Equity multiple: 1.04×
• Total profit: $2,759
• Equity at exit: $37,276

10-year hold

• IRR: 11.0%
• Equity multiple: 1.87×
• Total profit: $61,234
• Equity at exit: $21,615

Cash invested: $70,000 (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 92083

• Rents YoY: 3.4%
• Active inventory: 74
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,705 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$60 /mo · $718/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$568
• Net cashflow: $662

Break-even live

Break-even rent $1,867

Max offer price $250,000

Occupancy floor 71%

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
371 N Melrose Dr Unit G Vista, CA	3.0	2.0	1100	$3,400	$3.09	24d	1	0.08mi
333 N Melrose Dr Vista, CA	1.0	1.0	892	$2,200	$2.47	16d	1	0.10mi
560 Copper Dr Vista, CA	1.0–2.0	1.0–2.0	925	$2,495	$2.70	1d	2	0.20mi
237 Diamond Way Vista, CA	2.0	2.0	800	$2,600	$3.25	5d	1	0.25mi
219 Diamond Way Unit C Vista, CA	1.0	1.0	1116	$1,300	$1.16	24d	1	0.30mi
415 Plymouth Dr Vista, CA	3.0	2.0	1000	$2,550	$2.55	5d	2	0.34mi
219 Plymouth Dr Unit A Vista, CA	2.0	2.0	1050	$2,500	$2.38	5d	1	0.38mi
401 W California Ave Unit 16 Vista, CA	2.0	2.0	1100	$2,340	$2.13	43d	1	0.55mi
210 Goetting Way Vista, CA	2.0	1.0	800	$2,800	$3.50	24d	1	0.55mi
210 Goetting Way Vista, CA	2.0	1.0	800	$2,690	$3.36	14d	1	0.55mi
100 Main St Vista, CA	2.0	1.0–2.5	1288	$4,166	$3.23	1d	13	0.74mi
300 W Los Angeles Dr Vista, CA	1.0	1.0	750	$1,938	$2.58	5d	2	0.80mi
298 Eddie Dr Vista, CA	1.0–2.0	1.0–1.5	789	$2,500	$3.17	43d	2	0.82mi
315 Pomelo Dr Vista, CA	2.0	1.0	858	$2,400	$2.80	1d	1	0.83mi
318 Washington St Unit 318 Vista, CA	1.0	1.0	700	$2,095	$2.99	14d	1	0.84mi
226 N Citrus Ave Unit A Vista, CA	3.0	2.0	1000	$3,500	$3.50	24d	1	0.85mi
1447 Olive Ave #2 Vista, CA	2.0	2.0	795	$2,800	$3.52	43d	1	0.93mi
240 Nevada Ave Vista, CA	2.0	1.0	835	$2,350	$2.81	5d	2	0.96mi
701 Breeze Hill Rd Vista, CA	1.0–3.0	1.0–2.5	1013	$3,478	$3.43	2d	1	0.97mi
710 Breeze Hill Rd Vista, CA	1.0–2.0	1.0–2.0	879	$3,140	$3.57	5d	5	1.02mi
516 S Santa Fe Ave Vista, CA	1.0	1.0	823	$2,668	$3.24	2d	4	1.02mi
318 Hillside Ct Vista, CA	2.0	1.5	925	$2,595	$2.81	2d	1	1.09mi
1401 N Melrose Dr Vista, CA	1.0–3.0	1.0–2.0	1059	$3,302	$3.12	1d	29	1.11mi
1515 Date St Vista, CA	2.0	2.0	881	$2,795	$3.17	3d	1	1.20mi
4435 Summer Dr Unit 1 Oceanside, CA	1.0	1.0	800	$2,900	$3.62	43d	1	1.24mi
173 Pala Vista Dr Unit 12 Vista, CA	2.0	1.0	990	$2,695	$2.72	20d	1	1.27mi
510 Townsite Dr Vista, CA	1.0–2.0	1.0–1.5	775	$2,195	$2.83	2d	3	1.28mi
740 Paseo Buena Vis Vista, CA	1.0–3.0	1.0–2.0	1038	$3,342	$3.22	1d	7	1.32mi
501 W Bobier Dr Vista, CA	1.0–3.0	1.0–2.0	1017	$3,212	$3.16	1d	22	1.35mi
810 Phillips St Vista, CA	2.0	2.5	930	$2,795	$3.01	43d	1	1.36mi
235 Pala Vista Dr Vista, CA	2.0	2.0	925	$2,195	$2.37	43d	1	1.37mi
1255 Rhea Pl Unit A Vista, CA	1.0	1.0	700	$2,350	$3.36	1d	1	1.38mi
2300 Catalina Cir Oceanside, CA	1.0–2.0	1.0–2.0	701	$3,061	$4.36	1d	29	1.39mi
337 Apollo Dr Unit Labs Vista, CA	2.0	1.0	800	$2,700	$3.38	43d	1	1.40mi
864 Phillips St Vista, CA	2.0	1.0	612	$2,100	$3.43	43d	1	1.42mi
864 Phillips St Unit F Vista, CA	2.0	1.0	1049	$2,795	$2.66	24d	1	1.42mi
876 Phillips St Vista, CA	1.0	1.0	633	$2,395	$3.78	5d	1	1.43mi
4554 Quailridge Dr Oceanside, CA	2.0	1.0	873	$2,500	$2.86	24d	1	1.44mi
4711 Sunny Hills Rd Oceanside, CA	2.0	1.0	834	$2,995	$3.59	43d	1	1.44mi
1529 Temple Heights Dr Oceanside, CA	2.0	1.0	873	$2,695	$3.09	43d	1	1.45mi

Listing history 10 events

1. 2026-06-07
   days on market $250,000 Active 20 DOM
2. 2026-06-04
   days on market $250,000 Active 17 DOM
3. 2026-06-03
   days on market $250,000 Active 16 DOM
4. 2026-06-02
   days on market $250,000 Active 15 DOM
5. 2026-06-01
   days on market $250,000 Active 14 DOM
6. 2026-05-31
   days on market $250,000 Active 13 DOM
7. 2026-05-05
   listed $250,000 Active
8. 2023-03-17
   soldstatus $240,000 Closed Sale 611-char remark

   Show marketing remark (611 chars)

   Welcome to this lovely upgraded two-bedroom, two full bath home. As you step in from the entry way you will find a large living room & dining area. The high ceilings give out plenty of natural lights. By the dining area, you will find kitchen with new countertops. There is an extra area where you can call "Home Office" or "Playroom". You will find the spacious laundry room that has a door that leads to the carport. Home is located in a desirable all age community. Near shopping centers, schools and freeways. The community has a Clubhouse for your fun events and a sparkling pool.

9. 2023-02-15
   historical Active Under Contract 611-char remark

   Show marketing remark (611 chars)

   Welcome to this lovely upgraded two-bedroom, two full bath home. As you step in from the entry way you will find a large living room & dining area. The high ceilings give out plenty of natural lights. By the dining area, you will find kitchen with new countertops. There is an extra area where you can call "Home Office" or "Playroom". You will find the spacious laundry room that has a door that leads to the carport. Home is located in a desirable all age community. Near shopping centers, schools and freeways. The community has a Clubhouse for your fun events and a sparkling pool.

10. 2023-01-27
    listed $245,000 Active 611-char remark

    Show marketing remark (611 chars)

    Welcome to this lovely upgraded two-bedroom, two full bath home. As you step in from the entry way you will find a large living room & dining area. The high ceilings give out plenty of natural lights. By the dining area, you will find kitchen with new countertops. There is an extra area where you can call "Home Office" or "Playroom". You will find the spacious laundry room that has a door that leads to the carport. Home is located in a desirable all age community. Near shopping centers, schools and freeways. The community has a Clubhouse for your fun events and a sparkling pool.

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

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $718 · $60/mo
• Projected year-2 tax: $1,900 · $158/mo
• Expected delta: +$1,182/yr (+$98/mo · 164.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥90°F today · 22 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: $32,466
• − Mortgage interest: −$14,004
• − Property taxes: −$718
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,597
• − Management: −$2,597
• − Depreciation: −$7,273
• Taxable income: $4,026
• Est. tax owed @ 24.0%: −$966
• After-tax cash flow: $6,981/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: Vista Unified
• NCES district ID: 0641190
• Math proficiency: 32% ▼ -5.00%
• Reading proficiency: 59% ▲ 9.00%
• Median HH income: $60,067
• Composite: 39.91/100
• National rank: #3850
• State rank: #175 of 517 in CA

Livability — Vista

• Score: 60/100
• State rank: #584
• US rank: #18990

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vista, CA
• County: San Diego County · 3,178,799 people
• City population: 117,104
• Metro: San Diego-Chula Vista-Carlsbad, CA
• Population (ZIP): 38,375
• Household income: $86,974
• Rent vs Own: 50.3% rent · 49.7% own
• Severe rent burden: 1813.0

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: Majority Hispanic (62%)
• Race & ethnicity: Hispanic / Latino 62% Two or more races 33% White 27% Asian 4% Black 2% Native American 2% Pacific Islander 1%
• Hispanic origin (detail): Mexican 57%
• Common ancestry: Lithuanian 2% Slovak 1% Romanian 1%
• Foreign-born: 28% · Canada, Vietnam
• Languages at home: 49% English-only · Spanish 47% Other Asian/Pacific 1% Tagalog/Filipino 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: ▼ -560.30%
• Current HPI: 417.0863
• Rent YoY: ▲ 3.44%
• 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

+2.0% since first listed

4 events — show timeline

• 2026-05-05 Listed $250,000 CRMLS
• 2023-03-17 Sold (MLS) $240,000 CRMLS
• 2023-02-15 Contingent — CRMLS
• 2023-01-27 Listed $245,000 CRMLS

Property tax history

+1.6%/yr

Latest (2013): $718 · +1.5% YoY. Source: county tax records.