1120 Pepper Dr #151 · Bostonia, CA 92021

$240,000

2 bd · 2.0 ba · 1,174 sqft · Manufactured · 4 Days on market

Built 1970 Est $189k · 27% over

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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 +21.0/30.0
• DSCR +6.7/10.0
• 1% rule +5.5/10.0
• Schools +4.0/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

1ST YEAR OF SPACE RENT $550/MO IN HIGHLY DESIRABLE 55+ PEPPERWOOD PARK!!! GORGEOUS CUSTOM REMODELED MOBILE HOME WITH STUNNING FINISHES, THIS IS A "MUST SEE HOME!" Stunning remodeled home with stunning custom touches! The maple custom cabinets are showcased in the open floor plan with vaulted ceilings that offer plenty of natural light. Modern laminate floors are seamless and run throughout living room, hallway & bedrooms. Master bedroom offers spa like ensuite and slider with access to large deck.

Key facts

• Open floor plan
• Quartz counters
• Wood beams

Tags

• VAULTED CEILINGS
• WOOD BEAMS
• OPEN FLOOR PLAN
• CUSTOM KITCHEN CABINETS
• LARGE ISLAND
• QUARTZ COUNTERS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $240k.

Deal economics

• At list price, monthly cash flow is $340 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Cap rate 8.0% vs local median 6.0% in Bostonia — 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 65/100 on livability (#383 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, housing B+; Watch: schools D, crime F, amenities 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 soft (-0.8%/yr); 244 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); 11,759 units permitted in San Diego County in 2024 (7,244 in 5+ unit buildings).
• This rent runs 41% of the median local income ($74k/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 $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

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 8y 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 $132k; list at $240k implies a 83% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 3→9/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $240,000

Questions for the listing agent

1. Built in 1970 — 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 F 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. 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?
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: 1.05% ✓
• Cap rate: 7.99%
• Cash-on-cash: 6.07%
• DSCR: 1.27
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $189,014
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1120 Pepper Dr Spc 5	0.00mi	2/2.0	1,200 (+2%)	18mo	$140,000	$117	82
1351 Pepper Dr #18	0.57mi	2/2.0	1,140 (-3%)	3mo	$184,000	$161	66
1120 Pepper Dr #79	0.00mi	3/2.0 (+1)	1,344 (+14%)	6mo	$310,000	$231	66
1351 Pepper Dr #26	0.57mi	2/2.0	1,200 (+2%)	10mo	$160,000	$133	62
1315 Pepper Dr #72	0.51mi	2/2.0	1,220 (+4%)	10mo	$194,000	$159	61
1351 Pepper Dr Spc 62	0.57mi	2/2.0	1,056 (-10%)	2mo	$226,900	$215	55
450 E Bradley Ave #127	0.72mi	3/2.0 (+1)	1,246 (+6%)	2mo	$106,000	$85	49
450 E Bradley Ave #144	0.75mi	2/2.0	1,280 (+9%)	3mo	$159,000	$124	47
450 E Bradley Ave #121	0.75mi	2/2.0	1,088 (-7%)	15mo	$124,900	$115	41
12044 Royal Rd #63	0.55mi	3/2.0 (+1)	1,000 (-15%)	5mo	$257,321	$257	40
12044 Royal Rd #120	0.55mi	3/2.0 (+1)	1,325 (+13%)	14mo	$219,000	$165	36
1315 Pepper Dr #86	0.51mi	3/2.0 (+1)	1,344 (+14%)	18mo	$275,000	$205	32

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: -10.4%
• Equity multiple: 0.63×
• Total profit: $-24,620
• Equity at exit: $35,785

10-year hold

• IRR: -5.9%
• Equity multiple: 0.67×
• Total profit: $-22,062
• Equity at exit: $20,751

Cash invested: $67,200 (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 92021

• Rents YoY: -0.8%
• Active inventory: 244
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,530 high
• Mortgage (P&I): −$1,259
• Tax est. 1.5%: −$300 /mo · $3,600/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$531
• Net cashflow: $340

Break-even live

Break-even rent $2,099

Max offer price $240,000

Occupancy floor 82%

Sensitivity live

Price	-10% $506	-5% $423	+0% $340	+5% $257	+10% $174
Rent	-10% $140	-5% $240	+0% $340	+5% $440	+10% $540
Rate	-1.0pp $461	-0.5pp $401	base $340	+0.5pp $278	+1.0pp $214

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8031 Winter Gardens Blvd El Cajon, CA	3.0	2.0	1124	$2,995	$2.66	0d	1	0.48mi
1651 Braddon Way Unit B El Cajon, CA	1.0	2.0	800	$2,000	$2.50	0d	1	0.49mi
1696 Buckeye Dr El Cajon, CA	3.0	1.0	942	$2,900	$3.08	3d	1	0.49mi
1430 Diamond Ln El Cajon, CA	2.0	1.0	863	$2,695	$3.12	3d	1	0.58mi
745 E Bradley Ave Unit 46 El Cajon, CA	3.0	1.0	806	$2,298	$2.85	25d	1	0.66mi
1314 5 D Dr Unit 1318 El Cajon, CA	3.0	1.0	960	$2,600	$2.71	25d	1	0.66mi
1221 Oro St El Cajon, CA	2.0	1.5	1020	$2,575	$2.52	0d	1	0.70mi
8424 Pueblo Rd Unit 8424 Lakeside, CA	3.0	1.0	1000	$2,750	$2.75	0d	1	0.74mi
1219 Denver Ln Unit 1465013P El Cajon, CA	3.0	2.5	1194	$8,558	$7.17	22d	1	0.81mi
425 E Bradley Ave El Cajon, CA	1.0–2.0	1.0	771	$2,350	$3.05	0d	13	0.83mi
360 E Bradley Ave El Cajon, CA	3.0	2.0	1116	$2,974	$2.66	0d	4	0.85mi
1294 N Mollison Ave El Cajon, CA	1.0–2.0	1.0	750	$2,112	$2.82	0d	6	0.88mi
12171 Winter Gardens Dr Lakeside, CA	2.0	1.0	862	$2,500	$2.90	0d	1	0.88mi
310 E Bradley Ave El Cajon, CA	1.0–2.0	1.0	664	$2,050	$3.09	0d	1	0.95mi
1261 Victor Ave Unit 9 El Cajon, CA	2.0	2.0	810	$2,195	$2.71	0d	1	1.01mi
1005 N Mollison Ave El Cajon, CA	2.0	1.0	750	$2,195	$2.93	0d	1	1.03mi
1521 Graves Ave El Cajon, CA	1.0–2.0	1.0–2.0	730	$2,613	$3.58	0d	7	1.06mi
359 Cascade Rd El Cajon, CA	2.0	1.0	765	$2,875	$3.76	9d	1	1.08mi
1050 Peach Ave El Cajon, CA	2.0	2.0	850	$3,460	$4.07	6d	1	1.08mi
1038 Peach Ave El Cajon, CA	2.0	1.5	850	$1,870	$2.20	0d	1	1.09mi
1365 Broadway El Cajon, CA	3.0	2.0	1000	$3,478	$3.48	2d	1	1.12mi
816 Oro St El Cajon, CA	3.0	1.0	1235	$3,400	$2.75	3d	1	1.12mi
1019 Peach Ave El Cajon, CA	1.0–2.0	1.0–2.0	700	$2,161	$3.09	0d	7	1.17mi
1171 Marline Ave Unit 1171-A El Cajon, CA	3.0	1.5	1141	$3,100	$2.72	0d	1	1.18mi
989 Peach Ave El Cajon, CA	1.0–3.0	1.0–2.0	845	$2,202	$2.61	0d	11	1.19mi
1237 Graves Ave El Cajon, CA	1.0–2.0	1.0–2.0	775	$2,565	$3.31	0d	15	1.23mi
798 McClure St Unit 14 El Cajon, CA	3.0	1.0	916	$2,295	$2.51	0d	1	1.24mi
848 N Mollison Ave El Cajon, CA	1.0	1.0	690	$2,101	$3.04	0d	5	1.28mi
8729 Graves Ave Santee, CA	2.0	1.0	865	$2,368	$2.74	0d	7	1.41mi
375 Broadway El Cajon, CA	2.0	1.0	1400	$2,800	$2.00	0d	1	1.44mi
1343 Oakdale Ave El Cajon, CA	1.0–2.0	1.0–2.0	800	$2,195	$2.74	0d	1	1.44mi
1377 Oakdale Ave Unit 03 El Cajon, CA	2.0	2.0	900	$2,425	$2.69	0d	1	1.47mi

Listing history 14 events

1. 2026-04-25
   status Pending
2. 2026-04-19
   listed $240,000 Active
3. 2019-04-30
   soldstatus $131,500 Sold 516-char remark

   Show marketing remark (516 chars)

   1ST YEAR OF SPACE RENT $550/MO IN HIGHLY DESIRABLE 55+ PEPPERWOOD PARK!!! GORGEOUS CUSTOM REMODELED MOBILE HOME WITH STUNNING FINISHES, THIS IS A "MUST SEE HOME!" Stunning remodeled home with stunning custom touches! The maple custom cabinets are showcased in the open floor plan with vaulted ceilings that offer plenty of natural light. Modern laminate floors are seamless and run throughout living room, hallway & bedrooms. Master bedroom offers spa like ensuite and slider with access to large deck.

4. 2019-03-15
   status Pending 516-char remark

   Show marketing remark (516 chars)

   1ST YEAR OF SPACE RENT $550/MO IN HIGHLY DESIRABLE 55+ PEPPERWOOD PARK!!! GORGEOUS CUSTOM REMODELED MOBILE HOME WITH STUNNING FINISHES, THIS IS A "MUST SEE HOME!" Stunning remodeled home with stunning custom touches! The maple custom cabinets are showcased in the open floor plan with vaulted ceilings that offer plenty of natural light. Modern laminate floors are seamless and run throughout living room, hallway & bedrooms. Master bedroom offers spa like ensuite and slider with access to large deck.

5. 2019-01-26
   status Back On Market 516-char remark

   Show marketing remark (516 chars)

   1ST YEAR OF SPACE RENT $550/MO IN HIGHLY DESIRABLE 55+ PEPPERWOOD PARK!!! GORGEOUS CUSTOM REMODELED MOBILE HOME WITH STUNNING FINISHES, THIS IS A "MUST SEE HOME!" Stunning remodeled home with stunning custom touches! The maple custom cabinets are showcased in the open floor plan with vaulted ceilings that offer plenty of natural light. Modern laminate floors are seamless and run throughout living room, hallway & bedrooms. Master bedroom offers spa like ensuite and slider with access to large deck.

6. 2019-01-08
   status Pending 516-char remark

   Show marketing remark (516 chars)

   1ST YEAR OF SPACE RENT $550/MO IN HIGHLY DESIRABLE 55+ PEPPERWOOD PARK!!! GORGEOUS CUSTOM REMODELED MOBILE HOME WITH STUNNING FINISHES, THIS IS A "MUST SEE HOME!" Stunning remodeled home with stunning custom touches! The maple custom cabinets are showcased in the open floor plan with vaulted ceilings that offer plenty of natural light. Modern laminate floors are seamless and run throughout living room, hallway & bedrooms. Master bedroom offers spa like ensuite and slider with access to large deck.

7. 2019-01-01
   listed $150,000 Active 516-char remark

   Show marketing remark (516 chars)

   1ST YEAR OF SPACE RENT $550/MO IN HIGHLY DESIRABLE 55+ PEPPERWOOD PARK!!! GORGEOUS CUSTOM REMODELED MOBILE HOME WITH STUNNING FINISHES, THIS IS A "MUST SEE HOME!" Stunning remodeled home with stunning custom touches! The maple custom cabinets are showcased in the open floor plan with vaulted ceilings that offer plenty of natural light. Modern laminate floors are seamless and run throughout living room, hallway & bedrooms. Master bedroom offers spa like ensuite and slider with access to large deck.

8. 2019-01-01
   historical

   Show marketing remark (516 chars)

   1ST YEAR OF SPACE RENT $550/MO IN HIGHLY DESIRABLE 55+ PEPPERWOOD PARK!!! GORGEOUS CUSTOM REMODELED MOBILE HOME WITH STUNNING FINISHES, THIS IS A "MUST SEE HOME!" Stunning remodeled home with stunning custom touches! The maple custom cabinets are showcased in the open floor plan with vaulted ceilings that offer plenty of natural light. Modern laminate floors are seamless and run throughout living room, hallway & bedrooms. Master bedroom offers spa like ensuite and slider with access to large deck.

9. 2018-12-02
   price $150,000
10. 2018-11-02
    listed $165,000 Active
11. 2018-11-01
    historical
12. 2018-09-08
    status Active
13. 2018-08-24
    status Contingent
14. 2018-06-22
    listed $169,500 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 2/10 Low
• 🌡 Heat 5/10 Major 3 d/yr ≥98°F today · 9 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,356
• − Mortgage interest: −$13,444
• − Property taxes: −$3,600
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,428
• − Management: −$2,428
• − Depreciation: −$6,982
• Taxable income: $274
• Est. tax owed @ 24.0%: −$66
• After-tax cash flow: $4,013/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 — Bostonia

• Score: 65/100
• State rank: #383
• US rank: #13065

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bostonia, CA
• County: San Diego County · 3,178,799 people
• Metro: San Diego-Chula Vista-Carlsbad, CA
• Population (ZIP): 70,501
• Household income: $74,013
• Rent vs Own: 46.2% rent · 53.8% own
• Severe rent burden: 4178.0

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 0.62)
• Race & ethnicity: White 54% Hispanic / Latino 28% Two or more races 14% Black 6% Asian 5% Native American 2%
• Hispanic origin (detail): Mexican 24%
• Common ancestry: Arab 6% Italian 2% Lithuanian 2%
• Foreign-born: 22% · Canada
• Languages at home: 65% English-only · Spanish 18% Arabic 7% Other Indo-European 3%

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: ▼ -654.88%
• Current HPI: 335.0617
• Rent YoY: ▼ -0.83%
• 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

+41.6% since first listed

14 events — show timeline

• 2026-04-25 Pending — SDMLS
• 2026-04-19 Listed $240,000 SDMLS
• 2019-04-30 Sold (MLS) $131,500 SDMLS
• 2019-03-15 Pending — SDMLS
• 2019-01-26 Relisted — SDMLS
• 2019-01-08 Pending — SDMLS
• 2019-01-01 Listing Removed — SDMLS
• 2019-01-01 Listed $150,000 SDMLS
• 2018-12-02 Price Changed $150,000 SDMLS
• 2018-11-02 Listed $165,000 SDMLS
• 2018-11-01 Listing Removed — SDMLS
• 2018-09-08 Relisted — SDMLS
• 2018-08-24 Pending — SDMLS
• 2018-06-22 Listed $169,500 SDMLS