1455 Alturas Rd #55 · Fallbrook, CA 92028

$270,000

3 bd · 2.0 ba · 1,050 sqft · Manufactured public records · 38 Days on market

Built 2004 9.77 ac lot Est $220k · 22% over ↓ 8% since listing

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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).

• Cash flow +24.6/30.0
• DSCR +7.9/10.0
• 1% rule +5.1/10.0
• Schools +3.9/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Livability +2.1/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Immaculate & Spacious Manufactured Home in Valley View Estates Welcome to this beautifully maintained Fleetwood double-wide in the desirable Valley View Estates community of Fallbrook. This home offers 3 bedrooms, 2 bathrooms, a bright and inviting living room, dining area, and kitchen, plus a convenient laundry area. Enjoy the extra touches, including a 3-car carport, private side yard, and storage shed. Community amenities include a swimming pool, children’s play park, and laundry facilities. Ideally located near the heart of town with shopping, dining, and other amenities just minutes away. Move-in ready and waiting for its new owner!

Key facts

• 3 car carport
• Valley view estates
• Manufactured home

Tags

• MANUFACTURED HOME
• VALLEY VIEW ESTATES
• 3 CAR CARPORT
• PRIVATE SIDE YARD
• STORAGE SHED
• SWIMMING POOL

Property features AI

Finance

• Other: Pets allowed
• Financial info: Land lease: $925 monthly
• HOA & community: Located in a mobile home park (Valley View Mobile Home Park); Community is rural/park setting

Exterior

• Parking: Carport; Parking available (located in Valley View Mobile Home Park)
• Utilities: Public sewer; Land lease applies (monthly)
• Home design: Mobile home (model 3502K, 11' x 44'); Double body type; Single-story
• Construction: Composition roof; Mobile home remains; Built (year per assessor)
• Exterior features: Partial fencing; Landscaped lot; Community pool; Has a view

Interior

• Kitchen: Gas range
• Bedrooms: Primary bedroom
• Flooring: Tile flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Cooling available (see remarks)
• Interior features: One-level home; Front door entry; Turnkey condition; Family room
• Laundry & utility: Laundry in individual room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $270k.

Deal economics

• At list price, monthly cash flow is $558 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $270k).
• Recommended offer: $262k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 2.4% in Fallbrook — 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 42/100 on livability (#1,364 in CA) — a working-class tenant base; expect higher turnover. Watch: schools D+, crime D-, amenities F.
• Fallbrook Union High (suburban): math 32% / reading 58% proficiency, ranked #183 of 517 in CA (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-0.3%/yr); 345 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 2d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 38 days — a 3% lower offer ($262k) is reasonable based on typical stale-listing flexibility.
• 3 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: major wildfire risk; extreme-heat days projected 4→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $261,900 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 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 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. 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?
6. 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.
7. 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.
8. 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: 1.01% ✓
• Cap rate: 8.77%
• Cash-on-cash: 8.86%
• DSCR: 1.39
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $220,500
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1455 Alturas #46	0.01mi	3/2.0	1,168 (+11%)	2mo	$245,000	$210	79

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: -6.0%
• Equity multiple: 0.78×
• Total profit: $-16,346
• Equity at exit: $40,258

10-year hold

• IRR: 0.0%
• Equity multiple: 1.00×
• Total profit: $71
• Equity at exit: $23,345

Cash invested: $75,600 (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 92028

• Rents YoY: -0.3%
• Active inventory: 345
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,734 high
• Mortgage (P&I): −$1,416
• Tax from tax record: −$74 /mo · $882/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$574
• Net cashflow: $558

Break-even live

Break-even rent $2,028

Max offer price $270,000

Occupancy floor 75%

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: $67,500
• Closing costs: $8,100
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
501 Ammunition Rd Fallbrook, CA	1.0–2.0	1.0	900	$1,995	$2.22	2d	2	0.30mi
303 W Clemmens Ln Fallbrook, CA	2.0	1.0	824	$2,375	$2.88	3d	5	0.35mi
1133 Old Stage Rd Fallbrook, CA	2.0	1.0	850	$2,400	$2.82	2d	1	0.63mi
744 W Fallbrook St Fallbrook, CA	1.0–2.0	1.0–2.0	780	$2,200	$2.82	2d	1	0.64mi
1732 Woodbrook Ln Fallbrook, CA	2.0	2.0	1367	$2,950	$2.16	2d	1	0.72mi
338 E Fallbrook St Fallbrook, CA	2.0	2.0	976	$2,495	$2.56	3d	1	0.94mi
421 Potter St Fallbrook, CA	1.0–2.0	1.0–2.0	726	$2,100	$2.89	2d	2	1.19mi

Listing history 20 events

1. 2026-06-18
   days on market $270,000 Active 38 DOM
2. 2026-06-17
   days on market $270,000 Active 37 DOM
3. 2026-06-16
   days on market $270,000 Active 36 DOM
4. 2026-06-15
   days on market $270,000 Active 35 DOM
5. 2026-06-13
   days on market $270,000 Active 33 DOM
6. 2026-06-13
   days on market $270,000 Active 32 DOM
7. 2026-06-09
   days on market $270,000 Active 29 DOM
8. 2026-06-08
   days on market $270,000 Active 28 DOM
9. 2026-06-07
   days on market $270,000 Active 27 DOM
10. 2026-06-04
    days on market $270,000 Active 24 DOM
11. 2026-06-03
    days on market $270,000 Active 23 DOM
12. 2026-06-02
    days on market $270,000 Active 22 DOM
13. 2026-06-01
    days on market $270,000 Active 21 DOM
14. 2026-05-31
    days on market $270,000 Active 20 DOM
15. 2026-05-11
    listed $270,000 Active
16. 2026-01-22
    price $270,000
17. 2025-12-16
    price $275,000
18. 2025-12-08
    status Active
19. 2025-11-15
    status Pending Sale
20. 2025-08-28
    listed $295,000 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: $882 · $74/mo
• Projected year-2 tax: $2,052 · $171/mo
• Expected delta: +$1,170/yr (+$98/mo · 132.7%)

ⓘ 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 7/10 Severe
• 🌡 Heat 6/10 Major 4 d/yr ≥94°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,809
• − Mortgage interest: −$15,124
• − Property taxes: −$882
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,625
• − Management: −$2,625
• − Depreciation: −$7,855
• Taxable income: $2,348
• Est. tax owed @ 24.0%: −$564
• After-tax cash flow: $6,132/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: Fallbrook Union High
• NCES district ID: 0613530
• Math proficiency: 32% ▲ 11.00%
• Reading proficiency: 58% ▲ 9.00%
• Median HH income: $56,644
• Composite: 39.17/100
• National rank: #4025
• State rank: #183 of 517 in CA

Livability — Fallbrook

• Score: 42/100
• State rank: #1364
• US rank: #27057

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fallbrook, CA
• County: San Diego County · 3,178,799 people
• City population: 52,227
• Metro: San Diego-Chula Vista-Carlsbad, CA
• Population (ZIP): 52,227
• Household income: $111,290
• Rent vs Own: 28.5% rent · 71.5% own
• Severe rent burden: 1384.0

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 48% Hispanic / Latino 42% Two or more races 21% Asian 4% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 35%
• Common ancestry: Slovak 2% Italian 2% Romanian 2%
• Foreign-born: 21% · Canada, Vietnam, China
• Languages at home: 66% English-only · Spanish 29% Tagalog/Filipino 1% 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: ▼ -533.50%
• Current HPI: 320.7162
• Rent YoY: ▼ -0.35%
• 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

-8.5% since first listed

6 events — show timeline

• 2026-05-11 Listed $270,000 CRMLS
• 2026-01-22 Price Changed $270,000 CRMLS
• 2025-12-16 Price Changed $275,000 CRMLS
• 2025-12-08 Relisted — CRMLS
• 2025-11-15 Pending — CRMLS
• 2025-08-28 Listed $295,000 CRMLS

Property tax history

+3.6%/yr

Latest (2013): $882 · +1.0% YoY. Source: county tax records.