3505 Alpine Blvd #29 · Alpine, CA 91901

$239,000

3 bd · 2.0 ba · 1,164 sqft · Manufactured · 19 Days on market

Built 1993 Good condition 9.43 ac lot Est $175k · 37% over

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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 +19.2/30.0
• DSCR +6.1/10.0
• 1% rule +5.1/10.0
• Schools +4.0/10.0
• Condition / age +4.0/5.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

CORNER LOT IS THE BEST LOCATION IN THE PARK, THIS HOME IS THE END UNIT BACK YARD AND BOTH SIDE OF UNIT COMPLETELY FENCE OPEN KITCHEN NEXT TO DINING AREA COMBO, LIVING ROOM. N HIGH CEILINGS MASTER BEDROOM IS-IN THE WEST SIDE WITH OWN PRIVATE LARGE BATHROOM THE 2 BEDROOMS ARE TO THE EAST WITH OWN BATHROOM. ALPINE OKS ESTATES IS ALL AGES COMMUNITY. WITH , AND ENJOY THE CLUBHOUSE, AND POOL, THAT IS A FEATURE, FOR SUMMER DAYS WASHER AND DRYER, AIR CONDITION WILL STAY. THIS HOME IS MOVE-INN READY.

Key facts

• Generous living room
• Skylight
• Fresh interior paint

Tags

• PRIVATE CORNER LOT
• PARK-LIKE SURROUNDINGS
• GENEROUS LIVING ROOM
• SOARING HIGH CEILINGS
• SKYLIGHT
• FRESH INTERIOR PAINT

Property features AI

Finance

• Other: Parcel number available
• Financial info: Land lease amount: $1,444 (buyer to verify assessments and lease details)
• HOA & community: Located in the Alpine Oaks Estates park; Manager approval required; Monthly land lease

Exterior

• Parking: 2 parking spaces; 2 carport spaces
• Utilities: Assessor-listed lot and living area information
• Home design: Single-story mobile home; Mobile home remains on site; Unit faces with a view
• Construction: One-story structure; One shed on the property; Mobile dimensions approximately 28 ft by 48 ft; Year built per assessor
• Exterior features: Concrete enclosed patio; Community pool; Corner lot with backyard and yard; Close to clubhouse; Street lighting; Mountainous surroundings; Curbing

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Central cooling
• Interior features: Ceiling fan; Cathedral/vaulted ceilings; One-level living; Private laundry room
• Laundry & utility: Laundry in an individual room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $239k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $258 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $239k).
• Recommended offer: $235k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.6% 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 $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 19 days — a 2% lower offer ($235k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago 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.
• Current owner paid $195k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $235,415 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 7.59%
• Cash-on-cash: 4.62%
• DSCR: 1.21
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $174,600
• Comps found: 2

Show comp detail 2 sales 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 (+3%)	21mo	$180,000	$150	72
3505 Alpine Blvd #66	0.00mi	3/2.0	1,280 (+10%)	15mo	$185,000	$145	71

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: -12.4%
• Equity multiple: 0.56×
• Total profit: $-29,133
• Equity at exit: $35,636

10-year hold

• IRR: -8.4%
• Equity multiple: 0.54×
• Total profit: $-30,625
• Equity at exit: $20,664

Cash invested: $66,920 (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: 8.2×

Monthly cashflow live

• Estimated rent: $2,417 medium
• Mortgage (P&I): −$1,253
• Tax est. 1.5%: −$299 /mo · $3,585/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$508
• Net cashflow: $258

Break-even live

Break-even rent $2,091

Max offer price $239,000

Occupancy floor 84%

Sensitivity live

Price	-10% $423	-5% $340	+0% $258	+5% $175	+10% $93
Rent	-10% $67	-5% $162	+0% $258	+5% $353	+10% $449
Rate	-1.0pp $378	-0.5pp $318	base $258	+0.5pp $196	+1.0pp $133

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: $59,750
• Closing costs: $7,170
• 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	9	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 13 events

1. 2026-06-21
   days on market $239,000 Active 19 DOM
2. 2026-06-18
   days on market $239,000 Active 16 DOM
3. 2026-06-17
   days on market $239,000 Active 15 DOM
4. 2026-06-16
   days on market $239,000 Active 14 DOM
5. 2026-06-16
   price $239,000 Active 13 DOM
6. 2026-06-15
   days on market $249,000 Active 13 DOM
7. 2026-06-13
   days on market $249,000 Active 11 DOM
8. 2026-06-09
   days on market $249,000 Active 7 DOM
9. 2026-06-08
   days on market $249,000 Active 6 DOM
10. 2026-06-07
    days on market $249,000 Active 5 DOM
11. 2026-06-04
    days on market $249,000 Active 2 DOM
12. 2026-06-03
    remarks 699-char remark
13. 2026-06-03
    listed $249,000 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 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: −$13,388
• − Property taxes: −$3,585
• − Insurance: −$1,195
• − Repairs & maintenance: −$2,320
• − Management: −$2,320
• − Depreciation: −$6,953
• Taxable loss: −$758
• Est. tax savings @ 24.0%: +$182
• After-tax cash flow: $3,274/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

This well-maintained manufactured home is move-in ready with fresh updates and a private corner lot, ideal for both resale and rental.

Value-add opportunities

• Both paint exterior — enhances curb appeal and resale value
• Both landscape — improves curb appeal and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both paint exterior — enhances curb appeal and resale value ↑
• Both landscape — improves curb appeal 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

+31.3% since first listed

6 events — show timeline

• 2026-05-27 Listed $249,000 CRMLS
• 2024-06-22 Listing Removed — CRMLS
• 2024-04-17 Listed $260,000 CRMLS
• 2022-09-01 Sold (MLS) $195,000 CRMLS
• 2022-06-13 Pending — CRMLS
• 2022-05-24 Listed $189,599 CRMLS