5012 Old Cliffs Rd · San Diego, CA 92120

$214,000

2 bd · 2.0 ba · 1,368 sqft · Manufactured public records · 9 Days on market

Built 1971 Est $226k · 5% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +9.8/15.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home, to this beautiful, spacious, manufactured home! Located in a quiet 55+ community. Very large living room, newer carpet, ceiling fans, washer and dryer hookups. Community features two clubhouses, a pool, jacuzzi, and a shuffle board court. Also has a dog walk. Space rent is $1932.00 a month. Buyer must get park approval before completing purchase. Buyer and Buyer's Agent to verify all.

Key facts

• Two clubhouses
• Pool
• Shuffle board court

Tags

• QUIET COMMUNITY
• TWO CLUBHOUSES
• POOL
• JACUZZI
• SHUFFLE BOARD COURT
• DOG WALK

Property features AI

Finance

• HOA & community: Senior community; Building name: The Cliffs

Exterior

• Parking: 1 parking space
• Utilities: Public water; Public sewer
• Home design: Manufactured home; Single-story
• Construction: Aluminum siding
• Exterior features: Community pool; Shed(s)

Interior

• Kitchen: Dishwasher; Gas Range; Range Hood; Garbage disposal
• Bedrooms: 2 possible bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (Natural Gas); Wall/window cooling units
• Interior features: Dishwasher; Disposal; Gas Range; Range Hood
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $214k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $214k).
• Cap rate 12.3% 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 soft (-0.7%/yr); 114 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals leasing fast (median 6d 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).
• This rent runs 32% of the median local income ($121k/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 + 0.0% rent growth), your $60k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $214,000

Questions for the listing agent

1. Built in 1971 — 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: 1.51% ✓
• Cap rate: 12.27%
• Cash-on-cash: 21.36%
• DSCR: 1.95
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $225,720
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4992 Old Cliffs Rd	0.03mi	2/2.0	1,344 (-2%)	19mo	$140,000	$104	80
4993 Old Cliffs Rd	0.03mi	2/2.0	1,440 (+5%)	13mo	$174,900	$121	79
4910-1/2 Old Cliffs Rd	0.14mi	3/2.0 (+1)	1,307 (-4%)	13mo	$335,000	$256	70
5038 Old Cliffs Rd	0.18mi	2/2.0	1,392 (+2%)	23mo	$280,000	$201	69
4989 Old Cliffs Rd	0.08mi	2/2.0	1,488 (+9%)	22mo	$245,000	$165	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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 10.4%
• Equity multiple: 1.40×
• Total profit: $23,847
• Equity at exit: $31,908

10-year hold

• IRR: 16.9%
• Equity multiple: 2.20×
• Total profit: $71,927
• Equity at exit: $18,503

Cash invested: $59,920 (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 92120

• Rents YoY: -0.7%
• Active inventory: 114
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $3,222 high
• Mortgage (P&I): −$1,122
• Tax est. 1.5%: −$268 /mo · $3,210/yr
• Insurance: −$89
• HOA: −$0
• Vacancy / Maint / Mgmt: −$677
• Net cashflow: $1,066

Break-even live

Break-even rent $1,872

Max offer price $214,000

Occupancy floor 62%

Sensitivity live

Price	-10% $1,214	-5% $1,140	+0% $1,066	+5% $992	+10% $918
Rent	-10% $812	-5% $939	+0% $1,066	+5% $1,194	+10% $1,321
Rate	-1.0pp $1,174	-0.5pp $1,121	base $1,066	+0.5pp $1,011	+1.0pp $954

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: $53,500
• Closing costs: $6,420
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6851 50th St San Diego, CA	3.0	2.5	1174	$4,300	$3.66	25d	1	0.30mi
5215 Irwin Ave San Diego, CA	3.0	1.0	1125	$2,775	$2.47	25d	1	0.32mi
5215 Waring Rd San Diego, CA	3.0	2.0	1300	$4,300	$3.31	6d	1	0.60mi
6850 Mission Gorge Rd San Diego, CA	1.0–2.0	1.0–2.0	903	$3,570	$3.95	0d	15	0.63mi
4580 Zion Ave San Diego, CA	1.0–2.0	1.0–2.0	911	$2,675	$2.93	0d	13	0.81mi
7647 Mission Gorge Rd #20 San Diego, CA	2.0	2.0	1035	$2,895	$2.80	9d	1	0.86mi
11445 Madera Rosa Way San Diego, CA	2.0	2.5	1400	$3,400	$2.43	0d	1	0.89mi
3828 Pendiente Ct San Diego, CA	1.0–2.0	1.0–2.0	775	$3,195	$4.12	0d	21	0.90mi
5596 Gala Ave San Diego, CA	3.0	1.5	1395	$4,400	$3.15	25d	1	0.91mi
7659 Mission Gorge Rd San Diego, CA	2.0	2.0	1035	$2,924	$2.83	0d	2	0.93mi
7659 Mission Gorge Rd San Diego, CA	2.0	2.0	1035	$2,950	$2.85	18d	1	0.93mi
7671 Mission Gorge Rd San Diego, CA	2.0	2.0	1090	$2,745	$2.52	6d	2	1.01mi
7677 Mission Gorge Rd San Diego, CA	2.0	2.0	1100	$2,875	$2.61	9d	1	1.03mi
7757 Margerum Ave San Diego, CA	2.0	2.0	912	$2,700	$2.96	25d	1	1.14mi
4555 Vandever Ave San Diego, CA	2.0	2.0	900	$2,650	$2.94	5d	1	1.18mi
4853 Twain Ave Unit 1351684P San Diego, CA	3.0	1.0	1291	$9,447	$7.32	25d	1	1.19mi
6120 Decena Dr #207 San Diego, CA	2.0	2.0	891	$2,895	$3.25	5d	1	1.28mi
6120 Decena Dr #207 San Diego, CA	1.0	1.0	891	$1,500	$1.68	5d	1	1.28mi
5360 Adobe Falls Rd San Diego, CA	2.0	1.0	1000	$2,395	$2.40	4d	4	1.30mi
5360 Adobe Falls Rd San Diego, CA	2.0	1.0	1000	$2,398	$2.40	23d	4	1.30mi
5295 Kona Springs Ln San Diego, CA	2.0	2.0	1127	$4,060	$3.60	21d	1	1.31mi
5295 Kona Springs Ln San Diego, CA	3.0	3.0	1642	$4,380	$2.67	25d	1	1.31mi
5295 Kona Springs Ln San Diego, CA	2.0	2.0	1127	$3,650	$3.24	25d	1	1.31mi
5295 Kona Springs Ln San Diego, CA	3.0	3.0	1680	$4,595	$2.74	21d	1	1.31mi
5432 Adobe Falls Rd #12 San Diego, CA	2.0	1.5	884	$2,350	$2.66	6d	1	1.33mi
5503 Adobe Falls Rd San Diego, CA	3.0	2.0	1116	$2,995	$2.68	25d	1	1.37mi
4440 Twain Ave San Diego, CA	3.0	1.0–2.0	1007	$3,722	$3.69	0d	71	1.40mi
4560 Mission Gorge Pl San Diego, CA	3.0	1.0–3.0	1066	$3,943	$3.70	0d	29	1.42mi
6555 Ambrosia Dr San Diego, CA	1.0–3.0	1.0–2.5	1002	$3,240	$3.23	0d	14	1.50mi

Listing history 7 events

1. 2026-06-21
   days on market $214,000 Active 9 DOM
2. 2026-06-18
   days on market $214,000 Active 6 DOM
3. 2026-06-17
   days on market $214,000 Active 5 DOM
4. 2026-06-16
   days on market $214,000 Active 4 DOM
5. 2026-06-15
   days on market $214,000 Active 3 DOM
6. 2026-06-13
   remarks 401-char remark
7. 2026-06-13
   listed $214,000 Active 1 DOM

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥92°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,662
• − Mortgage interest: −$11,987
• − Property taxes: −$3,210
• − Insurance: −$1,070
• − Repairs & maintenance: −$3,093
• − Management: −$3,093
• − Depreciation: −$6,225
• Taxable income: $9,984
• Est. tax owed @ 24.0%: −$2,396
• After-tax cash flow: $10,400/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): 31,915
• Household income: $120,661
• Rent vs Own: 35.0% rent · 65.0% own
• Severe rent burden: 1287.0

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 0.59)
• Race & ethnicity: White 60% Hispanic / Latino 20% Two or more races 12% Asian 7% Black 6%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Italian 3% Lithuanian 3% Slovak 2%
• Foreign-born: 12% · Canada, China, Vietnam
• Languages at home: 79% English-only · Spanish 10% Arabic 2% Other Indo-European 2%

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: ▼ -704.25%
• Current HPI: 387.6538
• Rent YoY: ▼ -0.70%
• 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

• 2026-06-12 Listed $214,000 SDMLS

Property tax history

+3.4%/yr

Latest (2013): $299 · +8.9% YoY. Source: county tax records.