7467 Mission Gorge Rd #293 · Santee, CA 92071

$225,000

2 bd · 2.0 ba · 1,440 sqft · Manufactured · 69 Days on market

Built 1975 Est $321k · 30% under ↓ 8% since listing

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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
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• Schools +4.5/10.0
• Livability +3.2/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

1440sf home in one of the most desirable senior communities. 2 bed, 2 bath home with a fantastic floor plan. Remodel this home to make it your own palace. Low $799 space rent, under rent control. The very large living/dining room area is perfect for family/friends entertaining. Very spacious kitchen includes all the appliances; refrigerator, dishwasher, stove top/oven. There is a bonus room which will make the perfect breakfast room, TV room, office; the possibilities are endless for this room. Main bedroom suite features a large ensuite bathroom and a walk-in closet. Guest bedroom with a walk-in closet, guest bathroom. The washer and dryer are included in the indoor laundry room. Central a

Key facts

• 2 parking spots
• Community pool
• Built 1975

Property features AI

Finance

• Other: Living area source: public records; Lot size source: estimated
• HOA & community: Senior community; Park name: Highlands Mobile Home Park; Manager approval required; Pets allowed with breed restrictions; Estimated lot size: 0-1 unit/acre; Land lease ($799 monthly)

Exterior

• Parking: Carport with 2 spaces; Has parking
• Utilities: Private water
• Home design: Single-story mobile home (double body); Entry on level 1; Mobile home remains on site
• Construction: Metal roof; Fixer condition; Total of 1 story; Mobile home dimensions approximately 24' x 60'
• Exterior features: Community pool; Gutters

Interior

• Kitchen: Gas cooktop; Gas oven; Range/stove hood; Refrigerator; Dishwasher
• Bedrooms: All bedrooms located on the main level
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central cooling
• Interior features: One-level home; Living room entry; All bedrooms on the same level
• Laundry & utility: Washer included; Dryer included

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $952 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $212k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.4% vs local median 2.7% in Santee — 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 (#361 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, crime A-; Watch: health & safety C-, amenities D, cost of living F.
• Santee (suburban): math 46% / reading 54% proficiency, ranked #130 of 517 in CA (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents flat; 197 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 0d 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 34% of the median local income ($114k/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.
• At projected returns (-3.0% appreciation + 0.8% rent growth), your $63k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($212k) 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 — expect insurance premiums to compound above CPI over the hold.

Recommended offer $211,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.41% ✓
• Cap rate: 11.37%
• Cash-on-cash: 18.14%
• DSCR: 1.81
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $321,120
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7467 Mission Gorge Rd Spc 19	0.00mi	2/2.0	1,344 (-7%)	3mo	$349,000	$260	87
7467 Mission Gorge Rd #250	0.00mi	2/2.0	1,440 (0%)	16mo	$360,000	$250	86
7467 Mission Gorge Rd #267	0.00mi	2/2.0	1,440 (0%)	23mo	$275,000	$191	80
7467 Mission Gorge Rd #193	0.00mi	2/2.0	1,344 (-7%)	20mo	$360,000	$268	72
7908 Rancho Fanita Dr #70	0.51mi	3/2.0 (+1)	1,456 (+1%)	8mo	$325,000	$223	63
7467 Mission Gorge Rd #77	0.00mi	2/2.0	1,248 (-13%)	19mo	$255,000	$204	62
7908 Rancho Fanita Dr #63	0.51mi	3/2.0 (+1)	1,238 (-14%)	10mo	$234,000	$189	39

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 · 0.85% rent growth · sell at horizon

5-year hold

• IRR: 7.3%
• Equity multiple: 1.28×
• Total profit: $17,516
• Equity at exit: $33,548

10-year hold

• IRR: 14.6%
• Equity multiple: 2.07×
• Total profit: $67,126
• 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.

Methodology + full state rankings →

ZIP-level market 92071

• Rents YoY: 0.8%
• Active inventory: 197
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $3,174 high
• Mortgage (P&I): −$1,180
• Tax est. 1.5%: −$281 /mo · $3,375/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$666
• Net cashflow: $952

Break-even live

Break-even rent $1,968

Max offer price $225,000

Occupancy floor 65%

Sensitivity live

Price	-10% $1,108	-5% $1,030	+0% $952	+5% $875	+10% $797
Rent	-10% $702	-5% $827	+0% $952	+5% $1,078	+10% $1,203
Rate	-1.0pp $1,066	-0.5pp $1,009	base $952	+0.5pp $894	+1.0pp $835

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: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8617 Bushy Hill Dr Santee, CA	2.0–3.0	2.0–3.0	1299	$2,700	$2.08	0d	1	0.21mi
7855 Rancho Fanita Dr Unit A Santee, CA	3.0	1.5	1116	$3,200	$2.87	0d	1	0.42mi
7847 Mission Gorge Rd Santee, CA	1.0	1.0–2.0	870	$2,845	$3.27	0d	4	0.49mi
69 Via Sovana Santee, CA	3.0	3.0	1342	$3,600	$2.68	0d	1	0.51mi
177 Via Montisi Santee, CA	2.0	2.5	1239	$3,450	$2.78	0d	1	0.52mi
7962 Arly Ct #12 Santee, CA	2.0	2.0	945	$2,800	$2.96	0d	1	0.57mi
8714 Aruba Ln Santee, CA	3.0	3.0	1864	$4,300	$2.31	11d	1	0.60mi
9346 Whispering Leaves Ln Santee, CA	3.0	2.0	1512	$3,975	$2.63	0d	1	0.89mi
8434 Kreiner Way Santee, CA	3.0	2.0	1305	$4,213	$3.23	22d	1	1.09mi
8605 Arminda Cir Santee, CA	2.0	2.0	958	$2,650	$2.77	0d	1	1.32mi
8609 Arminda Cir #13 Santee, CA	2.0	2.0	984	$3,000	$3.05	0d	1	1.34mi

Listing history 21 events

1. 2026-06-18
   days on market $225,000 Active 69 DOM
2. 2026-06-17
   days on market $225,000 Active 68 DOM
3. 2026-06-16
   days on market $225,000 Active 67 DOM
4. 2026-06-15
   days on market $225,000 Active 66 DOM
5. 2026-06-13
   days on market $225,000 Active 64 DOM
6. 2026-06-13
   days on market $225,000 Active 63 DOM
7. 2026-06-09
   days on market $225,000 Active 60 DOM
8. 2026-06-08
   days on market $225,000 Active 59 DOM
9. 2026-06-07
   days on market $225,000 Active 58 DOM
10. 2026-06-04
    days on market $225,000 Active 55 DOM
11. 2026-06-03
    days on market $225,000 Active 54 DOM
12. 2026-06-02
    days on market $225,000 Active 53 DOM
13. 2026-06-01
    days on market $225,000 Active 52 DOM
14. 2026-05-31
    days on market $225,000 Active 51 DOM
15. 2026-04-27
    price $225,000
16. 2026-04-07
    historical
17. 2026-04-05
    listed $235,000 Active
18. 2026-04-03
    status Active
19. 2026-03-17
    status Pending Sale
20. 2025-12-03
    price $235,000
21. 2025-10-07
    listed $245,000 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 6/10 Major
• 🌡 Heat 4/10 Moderate 2 d/yr ≥96°F today · 7 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: $38,084
• − Mortgage interest: −$12,603
• − Property taxes: −$3,375
• − Insurance: −$1,125
• − Repairs & maintenance: −$3,047
• − Management: −$3,047
• − Depreciation: −$6,545
• Taxable income: $8,341
• Est. tax owed @ 24.0%: −$2,002
• After-tax cash flow: $9,425/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: Santee
• NCES district ID: 0635880
• Math proficiency: 46% ▼ -3.00%
• Reading proficiency: 54% ▼ -2.00%
• Median HH income: $73,452
• Composite: 45.0/100
• National rank: #2698
• State rank: #130 of 517 in CA

Livability — Santee

• Score: 65/100
• State rank: #361
• US rank: #12272

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Santee, CA
• County: San Diego County · 3,178,799 people
• City population: 59,590
• Metro: San Diego-Chula Vista-Carlsbad, CA
• Population (ZIP): 59,590
• Household income: $113,618
• Rent vs Own: 27.6% rent · 72.4% own
• Severe rent burden: 1719.0

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: Majority White (63%)
• Race & ethnicity: White 63% Hispanic / Latino 22% Two or more races 16% Asian 5% Black 2%
• Hispanic origin (detail): Mexican 18%
• Common ancestry: Slovak 3% Italian 3% Lithuanian 2%
• Foreign-born: 13% · Canada, Vietnam, China
• Languages at home: 81% English-only · Spanish 8% Arabic 3% 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: ▼ -607.00%
• Current HPI: 393.1781
• Rent YoY: ▲ 0.85%
• 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

-8.2% since first listed

7 events — show timeline

• 2026-04-27 Price Changed $225,000 CRMLS
• 2026-04-07 Listing Removed — CRMLS
• 2026-04-05 Listed $235,000 CRMLS
• 2026-04-03 Relisted — CRMLS
• 2026-03-17 Pending — CRMLS
• 2025-12-03 Price Changed $235,000 CRMLS
• 2025-10-07 Listed $245,000 CRMLS