829 Grand Ave · La Presa, CA 91977

$1,648,000

12 bd · 6.0 ba · 4,416 sqft · MultiFamily public records · 38 Days on market

Built 1978

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +6.6/30.0
• Schools +4.4/10.0
• Livability +3.0/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• 1% rule +1.2/10.0
• DSCR +0.8/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 5 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

No need to look anymore! Your clients are going to love this investment property! This a 6 units complex. All units have 2 bedroom 1 bath, five units are rented for $2,500 each and one for $2,700, total monthly rents are $15,200 per month! This property is in excellent condition, it was totally rehab 7 months ago. Each unit has a parking spot. ! Best price in San Diego!

Key facts

• Built 1978
• Listed 38 days

Property features AI

Exterior

• Home design: Multi-family residential income property; Two-story building
• Construction: Stucco construction
• Exterior features: Composition roof; Lot between 4 and 10 acres

Interior

• Bathrooms: Four full bathrooms
• Heating & cooling: Wall/Window cooling units
• Interior features: Wall/window cooling units

What this means for you Summary

Snapshot

• This is a 5 × 2-bed/?-bath units multifamily listed at $1.65M.

Deal economics

• At list price, monthly cash flow is $-3k ($-33k/yr) — negative. Per door: $-548/mo.
• To cash-flow at today's rent, offer at most $1.16M (29.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.02M (37.9% below list).
• Recommended offer: $1.02M (37.9% below list) — sets the bar for 1% rule.
• Cap rate 4.3% vs local median 3.0% in La Presa — 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 (#571 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, employment B, housing B; Watch: schools D+, health & safety D, crime F.
• La Mesa-Spring Valley (suburban): math 41% / reading 53% proficiency, ranked #478 of 1,400 in CA (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents flat; 158 active listings in the ZIP; solid renter incomes; 11,759 units permitted in San Diego County in 2024 (7,244 in 5+ unit buildings).
• At $10,236/mo this rent would consume 123% of the median local household income ($100k/yr) (locally 2007% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $11k of loan paydown is wiped out by about $49k 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 38 days — a 3% lower offer ($1.60M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $318k; list at $1.65M implies a 418% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,023,600 (37.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 38% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.62% ✗
• Cap rate: 4.30%
• Cash-on-cash: -7.13%
• DSCR: 0.68
• GRM: 13.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.88% rent growth · sell at horizon

5-year hold

• IRR: -30.9%
• Equity multiple: -0.00×
• Total profit: $-463,160
• Equity at exit: $245,722

10-year hold

• IRR: -46.0%
• Equity multiple: -0.54×
• Total profit: $-712,922
• Equity at exit: $142,489

Cash invested: $461,440 (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 91977

• Rents YoY: 0.9%
• Active inventory: 158
• Price-to-rent: 67.1×

Monthly cashflow live

• Estimated rent: $10,236 high
• Mortgage (P&I): −$8,642
• Tax from tax record: −$1,498 /mo · $17,975/yr
• Insurance: −$687
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,150
• Net cashflow: $-2,740

Break-even live

Break-even rent $13,705

Max offer price $1,163,892

Occupancy floor —

Sensitivity live

Price	-10% $-1,808	-5% $-2,274	+0% $-2,740	+5% $-3,207	+10% $-3,673
Rent	-10% $-3,549	-5% $-3,145	+0% $-2,740	+5% $-2,336	+10% $-1,932
Rate	-1.0pp $-1,910	-0.5pp $-2,321	base $-2,740	+0.5pp $-3,167	+1.0pp $-3,602

5-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 5× units	2	—	$10,235
Total (5 units)			$10,236

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: $412,000
• Closing costs: $49,440
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $1,648,000 Active 38 DOM
2. 2026-06-17
   days on market $1,648,000 Active 37 DOM
3. 2026-06-16
   days on market $1,648,000 Active 36 DOM
4. 2026-06-15
   days on market $1,648,000 Active 35 DOM
5. 2026-06-13
   days on market $1,648,000 Active 33 DOM
6. 2026-06-09
   days on market $1,648,000 Active 29 DOM
7. 2026-06-08
   days on market $1,648,000 Active 28 DOM
8. 2026-06-07
   days on market $1,648,000 Active 27 DOM
9. 2026-06-04
   days on market $1,648,000 Active 24 DOM
10. 2026-06-03
    days on market $1,648,000 Active 23 DOM
11. 2026-06-02
    days on market $1,648,000 Active 22 DOM
12. 2026-06-01
    days on market $1,648,000 Active 21 DOM
13. 2026-05-31
    days on market $1,648,000 Active 20 DOM
14. 2026-05-11
    listed $1,648,000 Active
15. 2026-05-09
    historical
16. 2026-04-20
    price $1,663,000
17. 2026-03-18
    price $1,688,000
18. 2026-03-03
    listed $1,745,000 Active
19. 2026-02-11
    historical
20. 2026-02-04
    price $1,766,000
21. 2026-01-21
    price $1,776,000
22. 2026-01-12
    listed $1,810,000 Active
23. 2002-10-17
    soldstatus $318,000

ⓘ 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: $17,975 · $1,498/mo
• Projected year-2 tax: $17,975 · $1,498/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥93°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $122,832
• − Mortgage interest: −$92,314
• − Property taxes: −$17,975
• − Insurance: −$8,240
• − Repairs & maintenance: −$9,827
• − Management: −$9,827
• − Depreciation: −$47,942
• Taxable loss: −$63,291
• Est. tax savings @ 24.0%: +$15,190
• After-tax cash flow: $-17,695/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: La Mesa-Spring Valley
• NCES district ID: 0620250
• Math proficiency: 41% ▲ 1.00%
• Reading proficiency: 53% ▬ 0.00%
• Median HH income: $61,742
• Composite: 43.53/100
• National rank: #6442
• State rank: #478 of 1400 in CA

Livability — La Presa

• Score: 60/100
• State rank: #571
• US rank: #18714

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: La Presa, CA
• County: San Diego County · 3,178,799 people
• City population: 62,957
• Metro: San Diego-Chula Vista-Carlsbad, CA
• Population (ZIP): 61,064
• Household income: $99,657
• Rent vs Own: 36.2% rent · 63.8% own
• Severe rent burden: 2007.0

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 0.68)
• Race & ethnicity: Hispanic / Latino 46% White 29% Two or more races 19% Black 12% Asian 7% Native American 1%
• Hispanic origin (detail): Mexican 43%
• Common ancestry: Portuguese 2% Lithuanian 1% Italian 1%
• Foreign-born: 19% · Canada, China, Vietnam
• Languages at home: 59% English-only · Spanish 32% Tagalog/Filipino 3% Arabic 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: ▼ -697.99%
• Current HPI: 381.66
• Rent YoY: ▲ 0.88%
• 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

+418.2% since first listed

10 events — show timeline

• 2026-05-11 Listed $1,648,000 SDMLS
• 2026-05-09 Listing Removed — SDMLS
• 2026-04-20 Price Changed $1,663,000 SDMLS
• 2026-03-18 Price Changed $1,688,000 SDMLS
• 2026-03-03 Listed $1,745,000 SDMLS
• 2026-02-11 Listing Removed — SDMLS
• 2026-02-04 Price Changed $1,766,000 SDMLS
• 2026-01-21 Price Changed $1,776,000 SDMLS
• 2026-01-12 Listed $1,810,000 SDMLS
• 2002-10-17 Sold (Public Records) $318,000 Public Records

Property tax history

+7.0%/yr

Latest (2025): $17,975 · +115.9% YoY. Source: county tax records.