402 63Rd St Spc 62 · San Diego, CA 92114

$189,999

3 bd · 2.0 ba · 1,056 sqft · Manufactured · 23 Days on market

Built 1969 Est $230k · 17% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.7/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Summit Ridge Park! This beautifully maintained 3-bedroom, 2-bath manufactured home offers comfortable living in the heart of Encanto. Featuring a spacious open-concept layout, abundant natural light, and a functional floor plan perfect for everyday living and entertaining. Enjoy a bright kitchen with ample cabinet space, generously sized bedrooms, and a private primary suite with its own full bathroom. Located in the desirable gated all-ages Summit Ridge community, residents enjoy amenities including pools and community laundry facilities. Conveniently situated near shopping, dining, schools, freeways, and trolley access for easy commuting. Space rent is $1,089/month. A great opp

Key facts

• Bright kitchen
• Full bathroom
• Ample cabinet space

Tags

• OPEN-CONCEPT LAYOUT
• ABUNDANT NATURAL LIGHT
• BRIGHT KITCHEN
• AMPLE CABINET SPACE
• PRIVATE PRIMARY SUITE
• FULL BATHROOM

Property features AI

Finance

• Other: Lot density approximately 16–20 units per acre
• HOA & community: Land lease of $1,089; Mobile home remains on the lot

Exterior

• Parking: Located within Summit Ridge mobile home park
• Utilities: Public sewer
• Home design: Single-story mobile home; Entry at front; Located in a mobile home park (Summit Ridge)
• Construction: Mobile home (12 ft by 44 ft); Year built per assessor
• Exterior features: Community pool; Street lighting; Has a view

Interior

• Bedrooms: All bedrooms located on the main level
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central cooling
• Interior features: One-level home; Front entry; All bedrooms on the ground floor; Central cooling
• Laundry & utility: Community laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $190k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• Recommended offer: $187k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.7% vs local median 2.0% in San Diego — 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 75/100 on livability (#123 in CA, #4,206 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: health & safety C-, crime D+, cost of living F.
• San Diego Unified (urban): math 19% / reading 29% proficiency, ranked #393 of 517 in CA (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+8.6%/yr); 104 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 39% of the median local income ($98k/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 $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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $53k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.

Recommended offer $187,149 (1.5% below list)

Questions for the listing agent

1. Built in 1969 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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?
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: 1.66% ✓
• Cap rate: 13.69%
• Cash-on-cash: 26.42%
• DSCR: 2.18
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $230,208
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
402 63Rd St Spc 152	0.00mi	3/2.0	960 (-9%)	24mo	$190,000	$198	65
402 63Rd St Spc 267	0.07mi	3/2.0	1,214 (+15%)	10mo	$265,000	$218	63

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 25.8%
• Equity multiple: 2.14×
• Total profit: $60,471
• Equity at exit: $28,329

10-year hold

• IRR: 36.4%
• Equity multiple: 5.22×
• Total profit: $224,538
• Equity at exit: $16,428

Cash invested: $53,200 (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 92114

• Rents YoY: 8.6%
• Active inventory: 104
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $3,145 high
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$237 /mo · $2,850/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$660
• Net cashflow: $1,171

Break-even live

Break-even rent $1,662

Max offer price $189,999

Occupancy floor 58%

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6434 Akins Ave #512 San Diego, CA	2.0	1.0	740	$2,200	$2.97	7d	1	0.32mi
607 Goetschl St San Diego, CA	3.0	1.5	1500	$3,500	$2.33	24d	1	0.58mi
5580 Dream St San Diego, CA	4.0	2.0	1219	$3,995	$3.28	7d	1	0.74mi
424 69th St San Diego, CA	2.0	1.0	1000	$2,800	$2.80	24d	1	0.79mi
5492 Imperial Ave San Diego, CA	1.0–2.0	1.0	645	$2,095	$3.25	2d	4	0.80mi
5468 Imperial Ave San Diego, CA	2.0	1.0	825	$2,120	$2.57	16d	2	0.83mi
5436 Imperial Ave Apt 3 San Diego, CA	3.0	1.0	805	$2,900	$3.60	24d	1	0.87mi
5415 Imperial Ave Unit 4 San Diego, CA	3.0	1.0	895	$2,550	$2.85	1d	1	0.89mi
5432 Churchward St San Diego, CA	3.0	2.0	1288	$3,850	$2.99	17d	1	0.90mi
5432 Churchward St Unit Kyra Apartments San Diego, CA	3.0	2.0	1280	$3,850	$3.01	24d	1	0.90mi
6979 Lisbon St Unit 6983 San Diego, CA	2.0	1.0	795	$2,195	$2.76	13d	1	0.95mi
6979 Lisbon St Unit 6981 San Diego, CA	2.0	1.0	795	$2,195	$2.76	2d	1	0.95mi
5368 Imperial Ave San Diego, CA	2.0	1.0	820	$1,995	$2.43	24d	1	0.97mi
5469 Roswell St San Diego, CA	2.0	2.0	1055	$2,230	$2.11	21d	1	1.00mi
5520 Olvera Ave San Diego, CA	3.0	2.0	1300	$3,900	$3.00	2d	1	1.02mi
5304 1/2 Churchward St San Diego, CA	2.0	1.0	800	$2,195	$2.74	24d	1	1.06mi
7051 Benson Ave San Diego, CA	3.0	3.0	1378	$4,000	$2.90	4d	1	1.06mi
7051 Benson Ave San Diego, CA	3.0	2.5	1378	$4,000	$2.90	20d	1	1.06mi
5292 Santa Margarita St San Diego, CA	3.0	2.0	1300	$3,695	$2.84	24d	1	1.07mi
5288 Santa Margarita St San Diego, CA	3.0	1.5	1167	$3,850	$3.30	24d	1	1.07mi
5280 Groveland Dr San Diego, CA	3.0	1.5	900	$3,500	$3.89	24d	1	1.08mi
5280 Groveland Dr Unit 4 San Diego, CA	3.0	1.5	900	$3,500	$3.89	21d	1	1.08mi
5256 Groveland Dr Unit 5260-1 San Diego, CA	3.0	2.0	1200	$3,095	$2.58	24d	1	1.09mi
5256 Groveland Dr Unit 5258 House San Diego, CA	3.0	2.0	1108	$3,100	$2.80	24d	1	1.09mi
5448 Encina Dr Unit 5448 San Diego, CA	3.0	2.0	1200	$3,295	$2.75	13d	1	1.14mi
172 Buccaneer Dr San Diego, CA	3.0	2.0	1458	$3,800	$2.61	4d	1	1.14mi
5835 Division St San Diego, CA	3.0	2.0	1457	$4,195	$2.88	16d	1	1.15mi
172 Sumatra Ln San Diego, CA	3.0	2.0	1320	$3,995	$3.03	4d	1	1.17mi
1568 Primera St Unit B Lemon Grove, CA	3.0	1.0	1200	$2,800	$2.33	1d	1	1.28mi
644 Cadman St San Diego, CA	2.0	1.0	700	$2,700	$3.86	20d	1	1.31mi
851 Euclid Ave San Diego, CA	3.0	2.0	1120	$3,695	$3.30	2d	1	1.34mi
239 50th St San Diego, CA	3.0	2.0	800	$2,799	$3.50	24d	1	1.36mi
1661 Bayview Heights Dr Unit 1 San Diego, CA	2.0	1.0	753	$1,995	$2.65	24d	1	1.38mi
1661 Bayview Heights Dr #18 San Diego, CA	2.0	1.0	753	$1,895	$2.52	24d	1	1.38mi
127 50th St San Diego, CA	1.0–3.0	1.0–2.0	899	$2,995	$3.33	4d	3	1.38mi
1845 Bayview Heights Dr #99 San Diego, CA	2.0	1.0	753	$2,500	$3.32	24d	1	1.39mi
1737 Bayview Heights Dr #46 San Diego, CA	2.0	1.0	751	$2,100	$2.80	7d	1	1.39mi
5128 La Paz Dr San Diego, CA	3.0	1.5	945	$3,875	$4.10	24d	1	1.39mi
215 Willie James Jones Ave Unit 103 San Diego, CA	4.0	2.0	1200	$1,225	$1.02	7d	1	1.46mi
215 Willie James Jones Ave Unit 103 San Diego, CA	4.0	2.0	1200	$1,250	$1.04	4d	1	1.46mi

Listing history 14 events

1. 2026-06-18
   days on market $189,999 Active 23 DOM
2. 2026-06-17
   days on market $189,999 Active 22 DOM
3. 2026-06-16
   days on market $189,999 Active 21 DOM
4. 2026-06-15
   days on market $189,999 Active 20 DOM
5. 2026-06-13
   days on market $189,999 Active 18 DOM
6. 2026-06-09
   days on market $189,999 Active 14 DOM
7. 2026-06-08
   days on market $189,999 Active 13 DOM
8. 2026-06-07
   days on market $189,999 Active 12 DOM
9. 2026-06-04
   days on market $189,999 Active 9 DOM
10. 2026-06-03
    days on market $189,999 Active 8 DOM
11. 2026-06-02
    days on market $189,999 Active 7 DOM
12. 2026-06-01
    days on market $189,999 Active 6 DOM
13. 2026-05-31
    days on market $189,999 Active 5 DOM
14. 2026-05-21
    listed $189,999 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 1/10 Low
• 🌡 Heat 4/10 Moderate 6 d/yr ≥89°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,735
• − Mortgage interest: −$10,643
• − Property taxes: −$2,850
• − Insurance: −$950
• − Repairs & maintenance: −$3,019
• − Management: −$3,019
• − Depreciation: −$5,527
• Taxable income: $11,727
• Est. tax owed @ 24.0%: −$2,815
• After-tax cash flow: $11,240/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: San Diego Unified
• NCES district ID: 0634320
• Math proficiency: 19% ▼ -29.00%
• Reading proficiency: 29% ▼ -28.00%
• Median HH income: $61,673
• Composite: 22.31/100
• National rank: #8135
• State rank: #393 of 517 in CA

Livability — San Diego

• Score: 75/100
• State rank: #123
• US rank: #4206

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: San Diego, CA
• County: San Diego County · 3,178,799 people
• City population: 1,397,612
• Metro: San Diego-Chula Vista-Carlsbad, CA
• Population (ZIP): 65,745
• Household income: $97,794
• Rent vs Own: 30.2% rent · 69.8% own
• Severe rent burden: 1586.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: Hispanic / Latino 44% Asian 23% Two or more races 17% Black 16% White 10% Pacific Islander 2%
• Hispanic origin (detail): Mexican 39% Puerto Rican 1%
• Foreign-born: 30% · Canada, Vietnam
• Languages at home: 47% English-only · Spanish 33% Tagalog/Filipino 12% Other Asian/Pacific 4%

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: ▼ -605.73%
• Current HPI: 467.1379
• Rent YoY: ▲ 8.64%
• 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

1 event — show timeline

• 2026-05-21 Listed $189,999 CRMLS

Property tax history

-3.4%/yr

Latest (2013): $210 · +8.5% YoY. Source: county tax records.