3505 Alpine Blvd Spc 11 · Alpine, CA 91901

$195,500

3 bd · 2.0 ba · 1,088 sqft · Manufactured · 94 Days on market

Built 2018 Good condition 9.43 ac lot Est $163k · 20% over

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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 +27.2/30.0
• DSCR +9.4/10.0
• 1% rule +7.4/10.0
• Schools +4.0/10.0
• Condition / age +3.8/5.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 3505 Alpine Blvd #11 in Alpine Oaks Estates, where peaceful mountain living meets everyday convenience in the heart of Alpine. This home offers comfortable living in a quiet, well-maintained community just minutes from the best that East County has to offer. Alpine is known for its friendly small-town atmosphere, scenic surroundings, and strong sense of community. Residents enjoy access to the highly regarded Alpine Union School District, along with nearby Granite Hills High School, both recognized for solid academics and community involvement. Outdoor recreation is a big part of the Alpine lifestyle. Just minutes away you’ll find hiking, biking, and nature exploration in C

Key facts

• 9.43 acre lot
• 2 parking spots
• Community pool

Property features AI

Finance

• HOA & community: Community pool (association amenity)

Exterior

• Parking: 2 parking spaces
• Utilities: Public water; Public sewer
• Home design: Manufactured home; Single-story
• Construction: Located in Alpine Oaks Estates (Alpine); Residential property
• Exterior features: Community pool; Composition roof

Interior

• Bedrooms: Up to 3 possible bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating (electric and natural gas)
• Interior features: Patio; Has a view

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $196k. Condition is rated good.

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 ($2k rent vs $196k).
• Recommended offer: $178k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 1.4% in Alpine — 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 58/100 on livability (#711 in CA) — a working-class tenant base; expect higher turnover. Strengths: employment A+, commute A-, crime B; Watch: amenities F, cost of living F, health & safety 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 flat; 86 active listings in the ZIP; 3 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).

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.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($178k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $177,905 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.24% ✓
• Cap rate: 9.72%
• Cash-on-cash: 12.24%
• DSCR: 1.54
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $163,200
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3505 Alpine Blvd #39	0.00mi	2/2.0 (-1)	1,200 (+10%)	21mo	$180,000	$150	60

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 · 0.1% rent growth · sell at horizon

5-year hold

• IRR: -1.5%
• Equity multiple: 0.95×
• Total profit: $-2,937
• Equity at exit: $29,150

10-year hold

• IRR: 4.8%
• Equity multiple: 1.31×
• Total profit: $16,840
• Equity at exit: $16,903

Cash invested: $54,740 (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 91901

• Rents YoY: 0.1%
• Active inventory: 86
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,417 medium
• Mortgage (P&I): −$1,025
• Tax est. 1.5%: −$244 /mo · $2,932/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$508
• Net cashflow: $558

Break-even live

Break-even rent $1,710

Max offer price $195,500

Occupancy floor 72%

Sensitivity live

Price	-10% $693	-5% $626	+0% $558	+5% $491	+10% $423
Rent	-10% $367	-5% $463	+0% $558	+5% $654	+10% $749
Rate	-1.0pp $657	-0.5pp $608	base $558	+0.5pp $508	+1.0pp $456

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: $48,875
• Closing costs: $5,865
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2660 Alpine Blvd Alpine, CA	1.0–2.0	1.0–2.0	750	$2,489	$3.32	0d	10	0.98mi
2616 Alpine Blvd #24 Alpine, CA	2.0	1.0	786	$2,195	$2.79	6d	1	1.09mi
2616 Alpine Blvd #20 Alpine, CA	2.0	1.0	786	$1,995	$2.54	0d	1	1.09mi

Listing history 15 events

1. 2026-06-21
   days on market $195,500 Active 94 DOM
2. 2026-06-18
   days on market $195,500 Active 91 DOM
3. 2026-06-17
   days on market $195,500 Active 90 DOM
4. 2026-06-16
   days on market $195,500 Active 89 DOM
5. 2026-06-15
   days on market $195,500 Active 88 DOM
6. 2026-06-13
   days on market $195,500 Active 86 DOM
7. 2026-06-09
   days on market $195,500 Active 82 DOM
8. 2026-06-08
   days on market $195,500 Active 81 DOM
9. 2026-06-07
   days on market $195,500 Active 80 DOM
10. 2026-06-04
    days on market $195,500 Active 77 DOM
11. 2026-06-03
    days on market $195,500 Active 76 DOM
12. 2026-06-02
    days on market $195,500 Active 75 DOM
13. 2026-06-01
    days on market $195,500 Active 74 DOM
14. 2026-05-31
    days on market $195,500 Active 73 DOM
15. 2026-03-19
    listed $195,500 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 10/10 Extreme
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 10 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,003
• − Mortgage interest: −$10,951
• − Property taxes: −$2,932
• − Insurance: −$978
• − Repairs & maintenance: −$2,320
• − Management: −$2,320
• − Depreciation: −$5,687
• Taxable income: $3,814
• Est. tax owed @ 24.0%: −$915
• After-tax cash flow: $5,784/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 · 14 photos

Good 75/100 Cosmetic rehab

This home is in good condition with a good condition score of 75. It has a cosmetic rehab level and requires minor maintenance. The highest-ROI updates that would raise its value are painting the exterior siding, upgrading the kitchen appliances, and landscaping improvements.

Value-add opportunities

• Resale Paint the exterior siding — Painting the exterior siding can enhance the home's curb appeal and increase its resale value.
• Resale Upgrade the kitchen appliances — Upgrading the kitchen appliances can make the home more appealing to potential buyers and increase its resale value.
• Both Landscaping improvements — Landscaping improvements can enhance the home's curb appeal and increase both its resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint the exterior siding — Painting the exterior siding can enhance the home's curb appeal and increase its resale value. ↑
• Resale Upgrade the kitchen appliances — Upgrading the kitchen appliances can make the home more appealing to potential buyers and increase its resale value. ↑
• Both Landscaping improvements — Landscaping improvements can enhance the home's curb appeal and increase both its resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Alpine

• Score: 58/100
• State rank: #711
• US rank: #21327

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alpine, CA
• County: San Diego County · 3,178,799 people
• City population: 18,197
• Metro: San Diego-Chula Vista-Carlsbad, CA
• Population (ZIP): 18,197
• Household income: $114,167
• Rent vs Own: 25.2% rent · 74.8% own
• Severe rent burden: 417.0

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: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 19% Two or more races 10% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Italian 5% Slovak 4% Lithuanian 3%
• Foreign-born: 9% · Canada, China, South Korea
• Languages at home: 84% English-only · Spanish 11% German/W. Germanic 2% Chinese 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: ▼ -453.14%
• Current HPI: 320.0778
• Rent YoY: ▲ 0.10%
• 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

• 2026-03-19 Listed $195,500 SDMLS