10880 Ca-67 #6

Eucalyptus Hills, CA 92040

$257,000C-

3 bd · 2.0 ba · 1,248 sqft · Built 1976 · Manufactured · Active · 21 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,665/mo
• Mortgage (P&I): −$1,348
• Tax + insurance: −$152
• HOA: −$0
• Vac / Maint / Mgmt: −$560
• Net cashflow: $605/mo
• Annual: $7,263/yr
• Cap rate: 9.12%
• Cash-on-cash: 10.09%
• DSCR: 1.45
• 1% rule: 1.04%
• Cash to close: $71,960

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $257k.
• At list price, monthly cash flow is $605 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $257k).
• It's been on market 21 days — a 2% lower offer ($253k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $253k (1.5% below list) — sets the bar for market timing.
• 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.
• Location reads 53/100 on livability (#970 in CA) — a working-class tenant base; expect higher turnover. Strengths: employment A+, housing A-; Watch: schools C-, amenities F, commute F.
• Lakeside Union Elementary (suburban): math 41% / reading 52% proficiency, ranked #480 of 1,400 in CA (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.6%/yr); 148 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 11,759 units permitted in San Diego County in 2024 (7,244 in 5+ unit buildings).
• 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 + 3.6% rent growth), your $72k cash investment doubles in ~10 years — after that, you're playing with house money.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.