221 N El Camino Real #93 · Oceanside, CA 92058

$209,950

2 bd · 1.0 ba · 864 sqft · Manufactured · 43 Days on market

Built 1972 Good condition $243/sqft · 7% below area Est $226k · 7% under

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Why this score? — see what drove the B- 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 +27.8/30.0
• ARV discount +10.8/15.0
• DSCR +9.8/10.0
• 1% rule +7.6/10.0
• Condition / age +4.0/5.0
• Schools +3.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this clean and move-in ready home located in the highly desirable Oceanside Terrace community in Oceanside. This 1972 New Moon double wide offers an open concept layout with lots of windows that bring in abundant natural light, creating a bright and inviting living space. The kitchen features a built-in double oven, gas cooktop with hood over range, and ample cabinetry. An indoor laundry area with hookups adds everyday convenience. The home includes 2 bedrooms and 1 bathroom with a walk-in shower. The primary bedroom offers a spacious walk-in closet. Enjoy low-maintenance backyard landscaping with mature trees providing shade and privacy. Located in the Oceanside Terrace community, this home is available to all ages and offers a peaceful, welcoming atmosphere. Affordable space rent of $795 per month makes this a great opportunity for comfortable living in a prime coastal location. Conveniently located near shopping, dining, and easy access to major highways.

Key facts

• Indoor laundry area
• Walk-in closet
• Built-in double oven

Tags

• OPEN CONCEPT LAYOUT
• BUILT-IN DOUBLE OVEN
• GAS COOKTOP WITH HOOD
• INDOOR LAUNDRY AREA
• WALK-IN SHOWER
• WALK-IN CLOSET

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $210k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $515 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $210k).
• Recommended offer: $204k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.0% vs local median 2.5% in Oceanside — 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 64/100 on livability (#413 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A; Watch: schools D+, crime D, cost of living F.
• Oceanside Unified (suburban): math 31% / reading 51% proficiency, ranked #221 of 517 in CA (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-0.1%/yr); 69 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals leasing fast (median 14d 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).
• At $2,647/mo this rent would consume 45% of the median local household income ($70k/yr) (locally 4169% 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 $1k of loan paydown is wiped out by about $6k 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 43 days — a 3% lower offer ($204k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A99 (mandatory federal flood insurance); extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $203,651 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.26% ✓
• Cap rate: 9.95%
• Cash-on-cash: 13.07%
• DSCR: 1.58
• GRM: 6.6

CMA / ARV

• ARV (median comp): $226,482
• List price: $209,950
• Delta: -7.30%
• Verdict: FAIR
• Comps: 5 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
141 Douglas Dr #77	0.24mi	2/1.0	849 (-2%)	17mo	$175,000	$206	72
65 Madra Ln	0.19mi	1/1.0 (-1)	900 (+4%)	17mo	$195,000	$217	65
57 Bob Ln	0.35mi	2/2.0	960 (+11%)	9mo	$235,000	$245	53
80 Shirle Ln	0.41mi	2/2.0	924 (+7%)	17mo	$215,000	$233	51

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: -4.2%
• Equity multiple: 0.85×
• Total profit: $-8,848
• Equity at exit: $31,304

10-year hold

• IRR: 1.4%
• Equity multiple: 1.09×
• Total profit: $5,041
• Equity at exit: $18,153

Cash invested: $58,786 (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 92058

• Home prices YoY: -34.9%
• Rents YoY: -0.1%
• Active inventory: 69
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $2,647 high
• Mortgage (P&I): −$1,101
• Tax est. 1.5%: −$262 /mo · $3,149/yr
• Insurance: −$87
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$556
• Net cashflow: $515

Break-even live

Break-even rent $1,995

Max offer price $209,950

Occupancy floor 76%

Sensitivity live

Price	-10% $660	-5% $588	+0% $515	+5% $443	+10% $370
Rent	-10% $306	-5% $411	+0% $515	+5% $620	+10% $724
Rate	-1.0pp $621	-0.5pp $569	base $515	+0.5pp $461	+1.0pp $405

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: $52,488
• Closing costs: $6,298
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
266 N El Camino Real Oceanside, CA	2.0	1.0	865	$2,500	$2.89	12d	4	0.11mi
200 N El Camino Real #291 Oceanside, CA	2.0	1.0	756	$2,055	$2.72	25d	1	0.14mi
550 Los Arbolitos Blvd Oceanside, CA	1.0–3.0	1.0–2.0	933	$2,676	$2.87	0d	19	0.34mi
615 Fredricks Ave Unit 2nd floor Oceanside, CA	2.0	2.0	1000	$2,650	$2.65	25d	1	0.36mi
615 Fredricks Ave #166 Oceanside, CA	2.0	2.0	1000	$2,650	$2.65	44d	1	0.36mi
612 Los Arbolitos Blvd Oceanside, CA	2.0–3.0	2.0	1076	$2,682	$2.49	0d	3	0.40mi
283 Douglas Dr Oceanside, CA	2.0–3.0	2.0	1017	$2,419	$2.38	0d	8	0.45mi
263 San Dimas Ave Oceanside, CA	2.0	2.0	908	$3,850	$4.24	44d	1	0.65mi
3891 San Ramon Dr Oceanside, CA	1.0–2.0	1.0–2.0	814	$2,908	$3.57	0d	23	0.68mi
264 Rancho Del Oro Dr Oceanside, CA	2.0	1.0–2.0	988	$2,772	$2.81	0d	16	0.79mi
3685 Vista Campana N #74 Oceanside, CA	2.0	2.0	1099	$2,550	$2.32	25d	1	0.81mi
359 San Dimas Ave Oceanside, CA	2.0	1.0	820	$3,000	$3.66	21d	1	0.83mi
4398 Rainier Way Oceanside, CA	1.0–2.0	1.0–2.0	827	$2,750	$3.32	3d	6	0.99mi
771 Iverson Point Way Oceanside, CA	2.0	1.5	1104	$3,050	$2.76	0d	1	1.13mi
771 Iverson Point Way Oceanside, CA	2.0	1.5	1104	$3,050	$2.76	16d	1	1.13mi
4243 Arroyo Vista Way #330 Oceanside, CA	2.0	2.0	791	$3,700	$4.68	44d	1	1.17mi
3625 Dearborn St Oceanside, CA	2.0	1.5	1050	$3,000	$2.86	13d	1	1.19mi
4251 Arroyo Vista Way #344 Oceanside, CA	3.0	2.0	1094	$3,850	$3.52	44d	1	1.20mi
3901 Mesa Dr Oceanside, CA	1.0–3.0	1.0–2.0	846	$2,755	$3.26	0d	18	1.31mi
319 Garrison St Oceanside, CA	1.0	1.0	580	$2,142	$3.69	23d	2	1.41mi
4269 Black Duck Way Oceanside, CA	2.0	2.0	1056	$2,800	$2.65	11d	1	1.47mi

Listing history 11 events

1. 2026-06-04
   days on market $209,950 Active 43 DOM
2. 2026-06-03
   days on market $209,950 Active 42 DOM
3. 2026-06-02
   days on market $209,950 Active 41 DOM
4. 2026-06-01
   days on market $209,950 Active 40 DOM
5. 2026-05-31
   days on market $209,950 Active 39 DOM
6. 2026-04-22
   listed $214,950 Active 983-char remark

   Show marketing remark (983 chars)

   Welcome to this clean and move-in ready home located in the highly desirable Oceanside Terrace community in Oceanside. This 1972 New Moon double wide offers an open concept layout with lots of windows that bring in abundant natural light, creating a bright and inviting living space. The kitchen features a built-in double oven, gas cooktop with hood over range, and ample cabinetry. An indoor laundry area with hookups adds everyday convenience. The home includes 2 bedrooms and 1 bathroom with a walk-in shower. The primary bedroom offers a spacious walk-in closet. Enjoy low-maintenance backyard landscaping with mature trees providing shade and privacy. Located in the Oceanside Terrace community, this home is available to all ages and offers a peaceful, welcoming atmosphere. Affordable space rent of $795 per month makes this a great opportunity for comfortable living in a prime coastal location. Conveniently located near shopping, dining, and easy access to major highways.

7. 2024-12-10
   historical
8. 2024-11-21
   price $190,000
9. 2024-08-03
   listed $209,900 Active
10. 2024-08-02
    historical
11. 2024-07-01
    listed $209,500 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 4/10 Moderate FEMA zone A99 · 22% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥86°F today · 23 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: $31,767
• − Mortgage interest: −$11,760
• − Property taxes: −$3,149
• − Insurance: −$2,552
• − Repairs & maintenance: −$2,541
• − Management: −$2,541
• − Depreciation: −$6,108
• Taxable income: $3,115
• Est. tax owed @ 24.0%: −$748
• After-tax cash flow: $5,435/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This move-in ready manufactured home in Oceanside Terrace offers a clean and well-maintained interior with good curb appeal.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Replace carpet — Improves comfort and value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Replace carpet — Improves comfort and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Oceanside Unified
• NCES district ID: 0628250
• Math proficiency: 31% ▼ -5.00%
• Reading proficiency: 51% ▲ 6.00%
• Median HH income: $55,158
• Composite: 35.74/100
• National rank: #4853
• State rank: #221 of 517 in CA

Livability — Oceanside

• Score: 64/100
• State rank: #413
• US rank: #14081

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oceanside, CA
• County: San Diego County · 3,178,799 people
• City population: 198,702
• Metro: San Diego-Chula Vista-Carlsbad, CA
• Population (ZIP): 49,834
• Household income: $69,970
• Rent vs Own: 74.6% rent · 25.4% own
• Severe rent burden: 4169.0

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 0.66)
• Race & ethnicity: Hispanic / Latino 43% White 38% Two or more races 25% Black 6% Asian 5% Native American 1%
• Hispanic origin (detail): Mexican 34% Puerto Rican 2%
• Common ancestry: Italian 4% Lithuanian 1% Romanian 1%
• Foreign-born: 15% · Canada, Vietnam, Jamaica
• Languages at home: 68% English-only · Spanish 26% Tagalog/Filipino 2% 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: ▼ -223.54%
• Current HPI: 417.6464
• Rent YoY: ▼ -0.11%
• 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

+2.6% since first listed

6 events — show timeline

• 2026-04-22 Listed $214,950 CRMLS
• 2024-12-10 Listing Removed — SDMLS
• 2024-11-21 Price Changed $190,000 SDMLS
• 2024-08-03 Listed $209,900 SDMLS
• 2024-08-02 Listing Removed — CRMLS
• 2024-07-01 Listed $209,500 CRMLS