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275 S Worthington St Spc 48
D- Composite 39.44
Why this score? — see what drove the D- 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 +12.7/15.0
  • Cash flow +7.5/30.0
  • 1% rule +5.7/10.0
  • Condition / age +4.0/5.0
  • Livability +3.0/5.0
  • Rent growth +2.7/5.0
  • DSCR +2.5/10.0
  • Appreciation +2.5/10.0
  • Schools +2.2/10.0
  • Manufactured-home adj. -3.4

$225,000

275 S Worthington St Spc 48 · La Presa, CA 91977
2 bd · 2.0 ba · 1,996 sqft · Manufactured · 298 Days on market
Manufactured home 55+ age-restricted Built 1977 Good condition 30 ac lot $113/sqft · 12% below area Est $255k · 12% under $1695/mo HOA · 66% of rent ↓ 4% since listing

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks

Welcome to one of Bonita’s most desirable 55+ communities, Villas Estate, where peaceful living meets scenic beauty. Perfectly positioned within the community, this exceptional residence captures breathtaking views of Mount Miguel, glowing sunrises, and tranquil reservoir waters, all enjoyed from the main living areas and kitchen. Privately situated with no immediate neighboring homes, this property offers a rare sense of space and serenity, along with the added convenience of ample adjacent parking. The setting alone makes this home truly special. Pride of ownership is evident throughout.

Key facts

  • Reservoir lake views
  • Freeway access
  • Granite countertops

Tags

MOUNTAIN VIEWSRESERVOIR LAKE VIEWSAMPLE ADJACENT PARKINGFREEWAY ACCESSLARGE OPEN KITCHENGRANITE COUNTERTOPS

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…

What this means for you Summary

Snapshot

  • This is a 2-bed/2.0-bath manufactured listed at $225k. Condition is rated good.

Deal economics

  • At list price, monthly cash flow is $-1k ($-15k/yr) — negative.
  • To cash-flow at today's rent, offer at most $47k (79.0% below list).
  • Meets the 1% rule at list price ($3k rent vs $225k).
  • Recommended offer: $47k (79.0% below list) — sets the bar for cash-flow.
  • Cap rate -0.3% vs local median 3.1% in La Presa — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: health & safety D, crime F, 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.
  • Zoned schools: Freese Elementary (231 students, 82% FRL); Bell Middle (776 students, 77% FRL); Morse High (1,675 students, 72% FRL) — zoned schools average 77% FRL vs 52% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
  • Market conditions: Rents flat; 296 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals lingering (median 69d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 69% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 11,759 units permitted in San Diego County in 2024 (7,244 in 5+ unit buildings).
  • This rent runs 31% of the median local income ($100k/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 $2k of loan paydown is wiped out by about $7k 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 298 days — a 12% lower offer ($198k) is reasonable based on typical stale-listing flexibility.
  • 2 sale attempts; this cycle's ask has dropped $35k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

  • Watch-outs: HOA is 66% of rent.
  • Climate carrying-cost: extreme-heat days projected 5→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
Recommended offer $47,158 (79.0% 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 298 days. Have you received any prior offers? Is the seller open to a 79% concession, seller financing, or rate buy-down credit?
  3. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
  4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
  5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
  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 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
1.14% ✓
Cap rate
-0.26%
Cash-on-cash
-23.41%
DSCR
-0.04
GRM
7.3

CMA / ARV

ARV (median comp)
$254,623
List price
$225,000
Delta
-11.63%
Verdict
UNDERPRICED
Comps
3 within 1.0 mi
Show comp detail 12 sales within ~0.75 mi
Address Dist Beds/Ba Sqft Sold Price $/sf Match
275 S Worthington St #14 0.07mi 2/2.0 1,920 (-4%) 4mo $180,000 $94 87
275 S Worthington St Spc 55 0.07mi 2/2.0 1,850 (-7%) 3mo $257,000 $139 82
8949 Corte Pellejo 0.97mi 3/2.5 (+1) 1,996 (0%) 4mo $810,000 $406 55
5612 Central 1.44mi 3/2.0 (+1) 2,015 (+1%) 4mo $1,070,700 $531 55
1135 Manzana Way 0.45mi 3/2.5 (+1) 1,701 (-15%) 1mo $665,000 $391 47
7845 Goode St 0.42mi 3/2.5 (+1) 1,641 (-18%) 7mo $775,000 $472 43
9017 Orville St 1.50mi 3/2.0 (+1) 1,549 (-22%) 3mo $819,900 $529 33
7265 Skyline Dr 1.50mi 3/2.0 (+1) 1,634 (-18%) 3mo $500,000 $306 33
114 ARRAN Ave 0.70mi 3/2.0 (+1) 1,594 (-20%) 6mo $705,000 $442 32
7254 Zest St 1.08mi 3/2.0 (+1) 1,530 (-23%) 3mo $800,501 $523 32
2254 Spring Oak Way 0.96mi 3/2.0 (+1) 1,539 (-23%) 6mo $760,000 $494 30
7266 Oakham Way 0.96mi 3/3.0 (+1) 1,540 (-23%) 4mo $727,500 $472 28

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 · 0.88% rent growth · sell at horizon

5-year hold
IRR
-74.4%
Equity multiple
-0.89×
Total profit
$-119,000
Equity at exit
$33,548
10-year hold
IRR
—
Equity multiple
-2.51×
Total profit
$-221,044
Equity at exit
$19,454

Cash invested: $63,000 (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.
Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now
2 active · 3 under contract
Months of supply
6.0 mo (17%/mo absorbed)
Median asking
$206,950 ($122/sqft)
Median days on market
49 d
This list price
100% of active listings are priced below it
ARV vs active asking
+4.5% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 91977

Rents YoY
0.9%
Active inventory
296
Price-to-rent
7.3×

Monthly cashflow live

Estimated rent
$2,558 high interval (Pro) →
Mortgage (P&I)
−$1,180
Tax est. 1.5%
−$281 /mo · $3,375/yr
Insurance
−$94
HOA
−$1,695
Lot rent leased land?
−$0
Vacancy / Maint / Mgmt
−$537
Net cashflow
$-1,229

Break-even live

Break-even rent $4,114
Max offer price $47,158
Occupancy floor —

Sensitivity live

Price -10% $-1,074 -5% $-1,151 +0% $-1,229 +5% $-1,307 +10% $-1,385
Rent -10% $-1,431 -5% $-1,330 +0% $-1,229 +5% $-1,128 +10% $-1,027
Rate -1.0pp $-1,116 -0.5pp $-1,172 base $-1,229 +0.5pp $-1,287 +1.0pp $-1,347

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
$56,250
Closing costs
$6,750
Reserves months
—
Total cash needed
—

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
—
Monthly P&I
—
Monthly cashflow
—
DSCR
—
Eligible?
—

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
—
Monthly P&I
—
Monthly cashflow
—
DSCR
—
Eligible?
—

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
—
Monthly P&I
—
Monthly cashflow
—
DSCR
—
Eligible?
—

Short-term bridge; refi at stabilization.

Rent comps 29 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
1617 Manzana Way Unit 1 San Diego, CA 3.0 2.0 1274 $3,200 $2.51 10d 1 0.29mi
439 Bluffview Rd Unit 1 Spring Valley, CA 3.0 1.5 1280 $2,975 $2.32 10d 1 0.40mi
425 S Meadowbrook Dr San Diego, CA 3.0 2.5–3.0 1525 $3,700 $2.43 72d 2 0.68mi
425 S Meadowbrook Dr #102 San Diego, CA 3.0 2.5 1550 $3,800 $2.45 53d 1 0.69mi
425 S Meadowbrook Dr #133 San Diego, CA 2.0 2.0 1228 $3,000 $2.44 157d 1 0.69mi
551 Glencrest Dr San Diego, CA 3.0 2.0 1383 $3,495 $2.53 79d 1 0.72mi
8535 Paradise Valley Rd #48 Spring Valley, CA 3.0 2.5 1517 $3,500 $2.31 0d 1 0.74mi
2957 Plaza Miguel Bonita, CA 3.0 2.5 1658 $3,595 $2.17 99d 1 0.92mi
8430 Noeline Ave San Diego, CA 3.0 2.0 1300 $3,750 $2.88 103d 1 0.93mi
606 Carlsbad St Unit 1465029P Spring Valley, CA 2.0–3.0 1.0 893 $3,224 $3.61 87d 2 0.97mi
136 Royal Oak Dr San Diego, CA 3.0 1.0 1714 $3,295 $1.92 10d 1 0.99mi
249 Ridgecrest Dr San Diego, CA 3.0 2.0 1373 $3,995 $2.91 69d 1 1.00mi
249 Ridgecrest Dr San Diego, CA 3.0 2.0 1373 $3,995 $2.91 129d 1 1.00mi
646 Osage St Spring Valley, CA 3.0 1.0 1322 $7,895 $5.97 36d 1 1.02mi
7650 Shadyglade Ln San Diego, CA 3.0 1.5 1513 $3,600 $2.38 6d 1 1.02mi
7291 Gatewood Ln Unit A San Diego, CA 3.0 2.0 1470 $3,750 $2.55 165d 1 1.03mi
2368 Fulham Way San Diego, CA 3.0 3.0 1540 $4,100 $2.66 158d 1 1.08mi
7853 Gribble St San Diego, CA 3.0 2.0 1247 $4,100 $3.29 138d 1 1.09mi
752 Osage St Spring Valley, CA 3.0 2.0 1643 $4,200 $2.56 138d 1 1.13mi
2310 Ladlehill Dr San Diego, CA 3.0 2.0 1381 $3,595 $2.60 2d 1 1.16mi
7007 Pembridge Ln San Diego, CA 3.0 2.0 1364 $3,580 $2.62 3d 1 1.33mi
7037 Attleborough Ct San Diego, CA 3.0 3.0 1540 $3,550 $2.31 10d 1 1.34mi
9010 Joan St Spring Valley, CA 3.0 2.0 1300 $3,595 $2.77 127d 1 1.37mi
8820 Ellenwood Cir Spring Valley, CA 3.0 2.0 1342 $3,000 $2.24 127d 1 1.37mi
6985 Ramfos Ln San Diego, CA 3.0 2.0 1280 $3,795 $2.96 53d 1 1.45mi
6985 Ramfos Ln San Diego, CA 3.0 2.0 1280 $3,990 $3.12 69d 1 1.45mi
6985 Ramfos Ln San Diego, CA 3.0 2.0 1280 $3,690 $2.88 21d 1 1.45mi
6985 Ramfos Ln San Diego, CA 3.0 2.0 1280 $3,795 $2.96 37d 1 1.45mi
8850 Orville St Spring Valley, CA 3.0 2.0 1246 $3,300 $2.65 88d 1 1.45mi

Property features AI

Finance

Other
Lot size and living area per public recordsDirections: Sweetwater Road turns into S. Worthington. The park is located before Paradise Road.
Financial info
Land lease of $1,695 per month
HOA & community
Part of an associationMonthly association / land-lease fee of $1,695Senior communityManager approval requiredPets allowedMountainous community features

Exterior

Parking
3 parking spaces3 carport spacesLocated in Bonita Hills Estate park
Utilities
Electricity connected
Home design
Mobile home remains on propertySingle-storyEntry from front porch and carport
Construction
Bitumen roofTurnkey condition
Exterior features
Covered enclosed porchPatioCommunity poolPaved and landscaped lot with gentle slopeRamp to main level (accessibility)One shedEast-facingHas a view

Interior

Kitchen
Water heater unitGarbage disposalMicrowaveRefrigeratorGas rangeDishwasher
Bedrooms
Entry level bedroom(s) on main level
Flooring
Vinyl flooringCarpet
Bathrooms
2 full bathroomsBathtub
Heating & cooling
Central coolingCentral furnace heating
Interior features
Ceiling fanPantryAttached living room deckOpen floor planStorage spaceWalk-in closetDressing areaFormal entryBonus room
Laundry & utility
Washer hookupGas dryer hookupHas laundry area

HOA detail $1,695/mo · $20,340/yr

Likely covers
water

Listing history 50 events

  1. 2026-11-08
    days on market $225,000 Active 298 DOM
  2. 2026-11-07
    days on market $225,000 Active 297 DOM
  3. 2026-11-06
    days on market $225,000 Active 296 DOM
  4. 2026-11-05
    days on market $225,000 Active 295 DOM
  5. 2026-11-04
    days on market $225,000 Active 294 DOM
  6. 2026-11-02
    days on market $225,000 Active 292 DOM
  7. 2026-11-01
    days on market $225,000 Active 291 DOM
  8. 2026-10-31
    days on market $225,000 Active 290 DOM
  9. 2026-10-30
    days on market $225,000 Active 289 DOM
  10. 2026-10-29
    days on market $225,000 Active 288 DOM
  11. 2026-10-28
    days on market $225,000 Active 287 DOM
  12. 2026-10-27
    days on market $225,000 Active 286 DOM
  13. 2026-10-26
    days on market $225,000 Active 285 DOM
  14. 2026-10-26
    days on market $225,000 Active 284 DOM
  15. 2026-10-24
    days on market $225,000 Active 283 DOM
  16. 2026-10-23
    days on market $225,000 Active 282 DOM
  17. 2026-10-22
    days on market $225,000 Active 281 DOM
  18. 2026-10-21
    days on market $225,000 Active 280 DOM
  19. 2026-10-20
    days on market $225,000 Active 279 DOM
  20. 2026-10-19
    days on market $225,000 Active 278 DOM
  21. 2026-10-18
    days on market $225,000 Active 277 DOM
  22. 2026-10-17
    days on market $225,000 Active 276 DOM
  23. 2026-10-16
    days on market $225,000 Active 275 DOM
  24. 2026-10-15
    days on market $225,000 Active 274 DOM
  25. 2026-10-14
    days on market $225,000 Active 273 DOM
  26. 2026-10-13
    days on market $225,000 Active 272 DOM
  27. 2026-10-12
    days on market $225,000 Active 271 DOM
  28. 2026-10-11
    days on market $225,000 Active 270 DOM
  29. 2026-10-10
    days on market $225,000 Active 269 DOM
  30. 2026-10-09
    days on market $225,000 Active 268 DOM
  31. 2026-10-08
    days on market $225,000 Active 267 DOM
  32. 2026-10-07
    days on market $225,000 Active 266 DOM
  33. 2026-10-06
    days on market $225,000 Active 265 DOM
  34. 2026-10-05
    days on market $225,000 Active 264 DOM
  35. 2026-10-04
    days on market $225,000 Active 263 DOM
  36. 2026-10-04
    days on market $225,000 Active 262 DOM
  37. 2026-10-02
    days on market $225,000 Active 261 DOM
  38. 2026-10-01
    days on market $225,000 Active 260 DOM
  39. 2026-09-30
    days on market $225,000 Active 259 DOM
  40. 2026-09-29
    days on market $225,000 Active 258 DOM
  41. 2026-09-28
    days on market $225,000 Active 257 DOM
  42. 2026-09-27
    days on market $225,000 Active 256 DOM
  43. 2026-09-25
    days on market $225,000 Active 254 DOM
  44. 2026-09-24
    days on market $225,000 Active 253 DOM
  45. 2026-09-23
    days on market $225,000 Active 252 DOM
  46. 2026-09-22
    days on market $225,000 Active 251 DOM
  47. 2026-09-21
    days on market $225,000 Active 250 DOM
  48. 2026-09-19
    days on market $225,000 Active 248 DOM
  49. 2026-09-18
    days on market $225,000 Active 247 DOM
  50. 2026-09-17
    days on market $225,000 Active 246 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 3/10 Moderate
  • 🌡 Heat 5/10 Major 5 d/yr ≥89°F today · 13 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

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income
$30,697
− Mortgage interest
−$12,603
− Property taxes
−$3,375
− Insurance
−$1,125
− Repairs & maintenance
−$2,456
− Management
−$2,456
− HOA
−$20,340
− Depreciation
−$6,545
Taxable loss
−$18,203
combined federal + state — saved on this device
Est. tax savings @ 24.0%
+$4,369
After-tax cash flow
$-10,380/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 · 13 photos

Good 80/100 Cosmetic rehab Est. rehab $9,980–$29,940 screening

This home is in good condition with a good roof and exterior. It has a good paint job and carpet, and is located in a desirable community with scenic views. It is ready for a fresh coat of paint and some carpet cleaning to further enhance its value.

Value-add opportunities

  • Both Paint exterior — Enhances curb appeal and value ↑
  • Both Clean carpets — Improves living space and rental appeal ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

Zoned Schools

Elementary Freese Elementary Middle Bell Middle High Morse High

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
C Composite livability gradescore 60/100

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 · 3,678,185 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
11% of renters

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%
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
—

Price history

-4.2% since first listed
4 events — show timeline
  • 2026-03-31 Price Changed $249,000 CRMLS
  • 2026-03-12 Relisted — CRMLS
  • 2026-01-31 Contingent — CRMLS
  • 2026-01-07 Listed $260,000 CRMLS

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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