3505 Alpine Blvd #52 · Alpine, CA 91901

$244,000

3 bd · 2.0 ba · 1,207 sqft · SingleFamily · 458 Days on market

Built 2018

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Why this score? — see what drove the D+ 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 +18.6/30.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• 1% rule +5.0/10.0
• Schools +4.0/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Set against the natural beauty of Alpine, this beautifully maintained 3-bedroom, 2-bath manufactured home offers modern comfort in a peaceful, mountain setting. Built in 2018, the home features a bright, open-concept floor plan filled with natural light and scenic views of surrounding trees and rolling hills. The updated kitchen is a standout with sleek countertops, stainless steel appliances, and a large center island, perfect for everyday living and entertaining. The spacious primary suite provides a relaxing retreat with a walk-in closet and an ensuite bath featuring generous counter space, ample storage, and a walk-in shower. Additional highlights include central heating and air, dual-p

Key facts

• En suite bathroom
• Low maintenance yard
• Remodeled kitchen

Tags

• REMODELED KITCHEN
• WALK IN CLOSET
• EN SUITE BATHROOM
• LOW MAINTENANCE YARD
• OVERSIZED TANDEM CARPORT
• FREEWAY ACCESS

Property features AI

Finance

• Other: Lot size source: seller; Living area source: assessor; Parcel number 7740404152
• Financial info: Land lease: $1,274 (land lease property)
• HOA & community: Located in Alpine Oaks Estates; Community features include curbs

Exterior

• Parking: 2 total parking spaces; 2 carport spaces
• Home design: Single-story mobile home; Mobile home model 110WM24523A; Mobile dimensions approximately 24' x 51'; Mobile home remains on property
• Construction: Year built (from assessor); Total of 1 story
• Exterior features: Community pool; Corner lot; Has a view

Interior

• Bedrooms: Primary bedroom on main floor
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central cooling
• Interior features: One level home; Entry on main level; Primary bedroom and primary bathroom included
• Laundry & utility: Laundry room (separate room)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $244k.

Deal economics

• At list price, monthly cash flow is $235 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $243k (0.4% below list).
• Recommended offer: $215k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 1.4% in Alpine — 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 58/100 on livability (#711 in CA) — a working-class tenant base; expect higher turnover. Strengths: employment A+, commute A-, crime B; Watch: amenities F, cost of living F, health & safety 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 flat; 85 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 458 days — a 12% lower offer ($215k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 19y ago; this cycle's ask has dropped $34k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $214,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 458 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.00% ✗
• Cap rate: 7.45%
• Cash-on-cash: 4.12%
• DSCR: 1.18
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.1% rent growth · sell at horizon

5-year hold

• IRR: -13.2%
• Equity multiple: 0.54×
• Total profit: $-31,453
• Equity at exit: $36,381

10-year hold

• IRR: -9.5%
• Equity multiple: 0.49×
• Total profit: $-34,696
• Equity at exit: $21,097

Cash invested: $68,320 (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 91901

• Rents YoY: 0.1%
• Active inventory: 85
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $2,431 medium
• Mortgage (P&I): −$1,280
• Tax est. 1.5%: −$305 /mo · $3,660/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$511
• Net cashflow: $235

Break-even live

Break-even rent $2,134

Max offer price $244,000

Occupancy floor 85%

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: $61,000
• Closing costs: $7,320
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2660 Alpine Blvd Alpine, CA	1.0–2.0	1.0–2.0	750	$2,549	$3.40	1d	10	0.98mi
2616 Alpine Blvd #24 Alpine, CA	2.0	1.0	786	$2,195	$2.79	5d	1	1.09mi
2616 Alpine Blvd #20 Alpine, CA	2.0	1.0	786	$1,995	$2.54	1d	1	1.09mi

Listing history 27 events

1. 2026-06-18
   days on market $244,000 Active 458 DOM
2. 2026-06-17
   days on market $244,000 Active 457 DOM
3. 2026-06-16
   days on market $244,000 Active 456 DOM
4. 2026-06-15
   price $244,000 Active 455 DOM
5. 2026-06-15
   days on market $249,000 Active 455 DOM
6. 2026-06-13
   days on market $249,000 Active 453 DOM
7. 2026-06-09
   days on market $249,000 Active 449 DOM
8. 2026-06-08
   days on market $249,000 Active 448 DOM
9. 2026-06-07
   days on market $249,000 Active 447 DOM
10. 2026-06-04
    days on market $249,000 Active 444 DOM
11. 2026-06-03
    days on market $249,000 Active 443 DOM
12. 2026-06-02
    days on market $249,000 Active 442 DOM
13. 2026-06-01
    days on market $249,000 Active 441 DOM
14. 2026-05-31
    days on market $249,000 Active 440 DOM
15. 2026-01-16
    price $249,000
16. 2025-11-18
    status Active
17. 2025-08-12
    historical Active Under Contract
18. 2025-05-15
    price $255,000
19. 2025-03-17
    listed $278,500 Active
20. 2024-11-17
    historical
21. 2024-11-17
    listed $299,900 Active
22. 2009-08-22
    price $25,000 Expired
23. 2008-09-21
    historical
24. 2008-09-21
    historical
25. 2007-08-08
    price $49,500
26. 2007-07-21
    listed $25,000
27. 2007-07-21
    listed $25,000

ⓘ 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 10/10 Extreme
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 10 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,178
• − Mortgage interest: −$13,668
• − Property taxes: −$3,660
• − Insurance: −$1,220
• − Repairs & maintenance: −$2,334
• − Management: −$2,334
• − Depreciation: −$7,098
• Taxable loss: −$1,137
• Est. tax savings @ 24.0%: +$273
• After-tax cash flow: $3,088/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: 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 — Alpine

• Score: 58/100
• State rank: #711
• US rank: #21327

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alpine, CA
• County: San Diego County · 3,178,799 people
• City population: 18,197
• Metro: San Diego-Chula Vista-Carlsbad, CA
• Population (ZIP): 18,197
• Household income: $114,167
• Rent vs Own: 25.2% rent · 74.8% own
• Severe rent burden: 417.0

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 (73%)
• Race & ethnicity: White 73% Hispanic / Latino 19% Two or more races 10% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Italian 5% Slovak 4% Lithuanian 3%
• Foreign-born: 9% · Canada, China, South Korea
• Languages at home: 84% English-only · Spanish 11% German/W. Germanic 2% Chinese 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: ▼ -453.14%
• Current HPI: 320.0778
• Rent YoY: ▲ 0.10%
• 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

+896.0% since first listed

13 events — show timeline

• 2026-01-16 Price Changed $249,000 CRMLS
• 2025-11-18 Relisted — CRMLS
• 2025-08-12 Contingent — CRMLS
• 2025-05-15 Price Changed $255,000 CRMLS
• 2025-03-17 Listed $278,500 CRMLS
• 2024-11-17 Listed $299,900 SDMLS
• 2024-11-17 Listing Removed — SDMLS
• 2009-08-22 Price Changed $25,000 SDMLS
• 2008-09-21 Listing Removed — SDMLS
• 2008-09-21 Listing Removed — CRMLS
• 2007-08-08 Price Changed $49,500 SDMLS
• 2007-07-21 Listed $25,000 SDMLS
• 2007-07-21 Listed $25,000 CRMLS