450 E Bradley Ave #68 · Bostonia, CA 92021

$209,900

2 bd · 2.0 ba · 1,624 sqft · Manufactured public records · 57 Days on market

Built 2004 Est $185k · 13% over ↓ 5% since listing

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Why this score? — see what drove the C+ 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
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• Schools +4.0/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• ARV discount +1.5/15.0
• Appreciation +0.0/10.0

Listing remarks

55+ Community. MOTIVATED SELLER Welcome to this remodeled home located within the gated Rancho Mesa. The front porch offers a comfortable outdoor space suitable for morning coffee, reading, or relaxing throughout the day. $1,750 Space Rent. Inside, the home features new flooring, newer appliances, and remodeled interior finishes. The layout offers an open-concept living and dining area with natural light throughout, creating a bright and functional living space. The kitchen is positioned adjacent to the main living area and includes ample cabinet storage and included appliances, providing convenience for everyday use and entertaining. This home offers three bedrooms and two full bathrooms,

Key facts

• Newer appliances
• Updated flooring
• 3 parking spots

Tags

• GATED RANCHO MESA COMMUNITY
• COMFORTABLE OUTDOOR SPACE
• UPDATED FLOORING
• NEWER APPLIANCES
• REFRESHED INTERIOR FINISHES
• AMPLE CABINET STORAGE

Property features AI

Finance

• HOA & community: Rancho Mesa community

Exterior

• Parking: 3 parking spaces
• Utilities: Public sewer
• Home design: Manufactured home; Single-story
• Exterior features: Gated fencing; Private and community pool; Shingle roof

Interior

• Kitchen: Gas oven
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air; Forced air heating (electric and natural gas)
• Interior features: Gas oven; Central air conditioning; Forced air heating (electric and natural gas)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $210k.

Deal economics

• At list price, monthly cash flow is $997 ($12k/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 12.0% 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; 9 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).
• At $2,853/mo this rent would consume 46% of the median local household income ($74k/yr) (locally 4178% 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $59k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($204k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 5→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $203,603 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. 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: 1.36% ✓
• Cap rate: 11.99%
• Cash-on-cash: 20.36%
• DSCR: 1.91
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $185,136
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
450 E Bradley Ave #89	0.07mi	2/2.0	1,440 (-11%)	0mo	$85,000	$59	78
450 E Bradley Ave #115	0.07mi	2/2.0	1,440 (-11%)	7mo	$169,000	$117	72
450 E Bradley Ave Spc 79	0.04mi	2/2.0	1,440 (-11%)	14mo	$75,000	$52	68
450 E Bradley Ave #41	0.00mi	3/2.0 (+1)	1,456 (-10%)	15mo	$198,000	$136	65
255 E Bradley Ave Spc 21	0.31mi	3/2.0 (+1)	1,500 (-8%)	14mo	$143,000	$95	56
450 E Bradley Ave #46	0.00mi	3/2.0 (+1)	1,419 (-13%)	21mo	$180,000	$127	56
450 E Bradley Ave #96	0.00mi	3/2.0 (+1)	1,400 (-14%)	21mo	$159,998	$114	54
400 Greenfield Dr Spc 26 #26	0.46mi	3/2.0 (+1)	1,440 (-11%)	5mo	$160,200	$111	50
1120 Pepper Dr #121	0.72mi	2/2.0	1,534 (-6%)	14mo	$240,000	$156	46
1120 Pepper Dr #17	0.72mi	2/2.0	1,440 (-11%)	4mo	$125,000	$87	44

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: 9.4%
• Equity multiple: 1.36×
• Total profit: $21,058
• Equity at exit: $31,297

10-year hold

• IRR: 16.1%
• Equity multiple: 2.15×
• Total profit: $67,490
• Equity at exit: $18,148

Cash invested: $58,772 (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: 6.1×

Monthly cashflow live

• Estimated rent: $2,853 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$69 /mo · $826/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$599
• Net cashflow: $997

Break-even live

Break-even rent $1,591

Max offer price $209,900

Occupancy floor 60%

Sensitivity live

Price	-10% $1,116	-5% $1,057	+0% $997	+5% $938	+10% $878
Rent	-10% $772	-5% $884	+0% $997	+5% $1,110	+10% $1,223
Rate	-1.0pp $1,103	-0.5pp $1,051	base $997	+0.5pp $943	+1.0pp $887

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: $52,475
• Closing costs: $6,297
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
360 E Bradley Ave El Cajon, CA	3.0	2.0	1116	$2,974	$2.66	0d	4	0.19mi
1219 Denver Ln Unit 1465013P El Cajon, CA	3.0	2.5	1194	$8,558	$7.17	22d	1	0.52mi
375 Broadway El Cajon, CA	2.0	1.0	1400	$2,800	$2.00	0d	1	0.86mi
816 Oro St El Cajon, CA	3.0	1.0	1235	$3,400	$2.75	3d	1	1.18mi
1171 Marline Ave Unit 1171-A El Cajon, CA	3.0	1.5	1141	$3,100	$2.72	0d	1	1.18mi
8031 Winter Gardens Blvd El Cajon, CA	3.0	2.0	1124	$2,995	$2.66	0d	1	1.20mi
534 Jeffree St El Cajon, CA	3.0	2.0	1118	$3,895	$3.48	4d	1	1.22mi
534 Jeffree St El Cajon, CA	3.0	2.0	1118	$3,895	$3.48	11d	1	1.22mi
8712 N Magnolia Ave Santee, CA	2.0	2.0	1060	$2,875	$2.71	0d	1	1.39mi

Listing history 16 events

1. 2026-06-21
   days on market $209,900 Active 57 DOM
2. 2026-06-18
   days on market $209,900 Active 54 DOM
3. 2026-06-17
   days on market $209,900 Active 53 DOM
4. 2026-06-16
   days on market $209,900 Active 52 DOM
5. 2026-06-15
   days on market $209,900 Active 51 DOM
6. 2026-06-13
   days on market $209,900 Active 49 DOM
7. 2026-06-13
   statusdays on market $209,900 Active 48 DOM
8. 2026-06-04
   status $209,900 Pending 47 DOM
9. 2026-06-03
   days on market $209,900 Active 47 DOM
10. 2026-06-02
    days on market $209,900 Active 46 DOM
11. 2026-06-01
    days on market $209,900 Active 45 DOM
12. 2026-05-31
    days on market $209,900 Active 44 DOM
13. 2026-04-17
    listed $209,900 Active
14. 2026-04-14
    historical
15. 2026-03-23
    price $209,900
16. 2026-03-03
    listed $219,900 Active

ⓘ 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: $826 · $69/mo
• Projected year-2 tax: $1,595 · $133/mo
• Expected delta: +$769/yr (+$64/mo · 93.1%)

ⓘ 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 1/10 Low
• 🌡 Heat 5/10 Major 5 d/yr ≥98°F today · 14 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: $34,241
• − Mortgage interest: −$11,758
• − Property taxes: −$826
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,739
• − Management: −$2,739
• − Depreciation: −$6,106
• Taxable income: $9,023
• Est. tax owed @ 24.0%: −$2,165
• After-tax cash flow: $9,800/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

-4.5% since first listed

4 events — show timeline

• 2026-04-17 Listed $209,900 SDMLS
• 2026-04-14 Listing Removed — SDMLS
• 2026-03-23 Price Changed $209,900 SDMLS
• 2026-03-03 Listed $219,900 SDMLS

Property tax history

-3.4%/yr

Latest (2013): $826 · -24.3% YoY. Source: county tax records.