8712 Magnolia Ave #103 · Santee, CA 92071

$119,000

2 bd · 2.0 ba · 980 sqft · Manufactured · 9 Days on market

Built 1967 Fair condition Est $161k · 26% under

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.5/10.0
• Livability +3.2/5.0
• Rent growth +2.7/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

VRM - $99k - $119k Great opportunity in highly desirable Cameron's Mobile Home Estate. This is a 55+ Community with well maintained grounds, pool & recreation room. This home has a laminate flooring throughout the living areas carpet in the bedrooms and tile in the bathrooms. Kitchen was remodeled back in 2018 with white shaker cabinets. Primary bedroom is spacious with a completely remodeled ensuite bathroom. The guest bathroom has also been beautifully remodeled as well. Exterior has recently been painted. New Tankless water heater installed this year. 2 sheds perfect for storage. Large enclosed patio offers great additional space and new deck offers a nice private outdoor area. Int

Key facts

• Laminate flooring
• Recreation room
• Remodeled kitchen

Tags

• WELL MAINTAINED GROUNDS
• POOL
• RECREATION ROOM
• LAMINATE FLOORING
• REMODELED KITCHEN
• WHITE SHAKER CABINETS

Property features AI

Finance

• HOA & community: Located in a senior community; Part of the Cameron building

Exterior

• Parking: Attached tandem garage (2 total parking spaces)
• Utilities: Public water; Sewer connected
• Home design: Mobile home; Single-story
• Exterior features: Metal roof; In-ground community pool; Common interest lot

Interior

• Kitchen: Refrigerator; Gas cooktop
• Bedrooms: 2 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Refrigerator; Gas cooktop; Forced air heating (natural gas)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $119k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $119k).
• Cap rate 18.4% vs local median 2.6% 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; 19 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 $823 of loan paydown is wiped out by about $4k 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 $33k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• 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 $119,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 2.15% ✓
• Cap rate: 18.42%
• Cash-on-cash: 43.32%
• DSCR: 2.93
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $160,720
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8712 N Magnolia Ave Space 82 Ave #82	0.07mi	2/2.0	950 (-3%)	1mo	$120,000	$126	90
8712 N Magnolia #169	0.00mi	2/2.0	1,040 (+6%)	5mo	$166,500	$160	85
8712 N Magnolia #218	0.00mi	2/2.0	1,056 (+8%)	2mo	$130,000	$123	85
8712 N Magnolia Ave Spc 177	0.00mi	2/1.0	952 (-3%)	9mo	$225,000	$236	84
8712 N Magnolia Ave Spc 87	0.00mi	2/2.0	1,000 (+2%)	23mo	$170,000	$170	77
8712 N Magnolia #127	0.00mi	1/2.0 (-1)	1,000 (+2%)	24mo	$130,000	$130	72
8712 N Magnolia #44	0.05mi	2/2.0	1,040 (+6%)	23mo	$190,000	$183	69
8712 N Magnolia #288	0.05mi	3/2.0 (+1)	1,100 (+12%)	11mo	$180,000	$164	63
8712 N Magnolia Ave Spc 202	0.05mi	2/2.0	880 (-10%)	24mo	$150,000	$170	61

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: 37.7%
• Equity multiple: 2.56×
• Total profit: $51,934
• Equity at exit: $17,743

10-year hold

• IRR: 43.2%
• Equity multiple: 4.68×
• Total profit: $122,686
• Equity at exit: $10,289

Cash invested: $33,320 (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: 3.9×

Monthly cashflow live

• Estimated rent: $2,564 high
• Mortgage (P&I): −$624
• Tax est. 1.5%: −$149 /mo · $1,785/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$538
• Net cashflow: $1,203

Break-even live

Break-even rent $1,041

Max offer price $119,000

Occupancy floor 48%

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8712 N Magnolia Ave Santee, CA	2.0	2.0	1060	$2,875	$2.71	2d	1	0.04mi
8866 Donna Jean Ln Santee, CA	1.0	1.0	650	$1,700	$2.62	2d	1	0.23mi
8961 N Magnolia Ave Santee, CA	1.0–2.0	1.0	850	$2,200	$2.59	2d	2	0.35mi
8729 Graves Ave Santee, CA	1.0–2.0	1.0	752	$2,385	$3.17	2d	8	0.38mi
10233 Mission Gorge Rd Santee, CA	2.0–3.0	1.0	942	$2,195	$2.33	2d	1	0.49mi
8527 Graves Ave Santee, CA	1.0–2.0	1.0–2.0	505	$2,000	$3.96	2d	1	0.53mi
8842 Tamberly Ct Santee, CA	2.0	1.5	903	$2,695	$2.98	2d	1	0.70mi
359 Cascade Rd El Cajon, CA	2.0	1.0	765	$2,875	$3.76	8d	1	0.71mi
9855 Mission Greens Ct #3 Santee, CA	2.0	1.0	903	$2,495	$2.76	17d	1	0.88mi
1521 Graves Ave El Cajon, CA	1.0–2.0	1.0–2.0	730	$2,632	$3.61	1d	7	1.06mi
9360 Creekside Ct Santee, CA	2.0	2.0	935	$2,495	$2.67	2d	2	1.15mi
9352 Creekside Ct Apt 26 Santee, CA	2.0	2.0	1000	$2,495	$2.50	2d	1	1.16mi
9356 Creekside Ct Unit 47 Santee, CA	2.0	2.0	1000	$2,495	$2.50	17d	1	1.17mi
310 E Bradley Ave El Cajon, CA	1.0–2.0	1.0	664	$2,050	$3.09	1d	1	1.18mi
360 E Bradley Ave El Cajon, CA	3.0	2.0	1116	$2,934	$2.63	1d	3	1.18mi
10170 Palm Glen Dr #47 Santee, CA	3.0	2.5	1088	$2,695	$2.48	2d	1	1.34mi
9525 Mission Gorge Rd Santee, CA	2.0–3.0	1.0–2.0	901	$2,195	$2.44	2d	4	1.36mi
10267 Mast Blvd Santee, CA	1.0–2.0	1.0	661	$2,295	$3.47	2d	3	1.38mi
425 E Bradley Ave El Cajon, CA	1.0–2.0	1.0	771	$2,350	$3.05	1d	13	1.39mi

Listing history 9 events

1. 2026-06-18
   days on market $119,000 Active 9 DOM
2. 2026-06-17
   days on market $119,000 Active 8 DOM
3. 2026-06-16
   days on market $119,000 Active 7 DOM
4. 2026-06-15
   days on market $119,000 Active 6 DOM
5. 2026-06-13
   days on market $119,000 Active 4 DOM
6. 2026-06-13
   remarks 695-char remark
7. 2026-06-13
   days on market $119,000 Active 3 DOM
8. 2026-06-10
   remarks 672-char remark
9. 2026-06-10
   listed $119,000 Active 1 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 1/10 Low
• 🌡 Heat 5/10 Major 5 d/yr ≥98°F today · 13 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: $30,762
• − Mortgage interest: −$6,666
• − Property taxes: −$1,785
• − Insurance: −$595
• − Repairs & maintenance: −$2,461
• − Management: −$2,461
• − Depreciation: −$3,462
• Taxable income: $13,333
• Est. tax owed @ 24.0%: −$3,200
• After-tax cash flow: $11,234/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 · 1 photo

Fair 45/100 Moderate rehab

This manufactured home has good interior finishes and recent updates, but requires minor exterior repairs and maintenance to improve its curb appeal and rental value.

Repairs flagged

• Minor Exterior siding — Slight wear visible
• Minor Foundation — No visible cracks or issues

Value-add opportunities

• Resale Paint exterior siding — Fresh paint enhances curb appeal
• Rental Replace carpet in bedrooms — Fresh carpet improves comfort and rental appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Slight wear visible	Minor	$500–3,000
Foundation · No visible cracks or issues	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Resale Paint exterior siding — Fresh paint enhances curb appeal ↑
• Rental Replace carpet in bedrooms — Fresh carpet improves comfort and rental appeal ↑

ⓘ 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: 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

1 event — show timeline

• 2026-05-29 Listed $119,000 SDMLS