13490 Highway 8 Business Spc 24 · Lakeside, CA 92040

$135,000

2 bd · 2.0 ba · 960 sqft · Manufactured public records · 137 Days on market

Built 1988 4.06 ac lot Est $172k · 21% under ↓ 23% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.4/10.0
• Rent growth +3.4/5.0
• Livability +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this manufactured home in an All-Ages Park, reflecting evident pride of ownership. The open floor plan features upgraded flooring, new appliances, and vaulted ceilings that enhance the sense of space. Every window overlooks peaceful greenery, creating a calm and private atmosphere. Situated on a quiet street in a clean, well-kept, pet-friendly park, this home is truly move-in ready. Space Lease is $1600 monthly.

Key facts

• Open floor plan
• Upgraded flooring
• New appliances

Tags

• OPEN FLOOR PLAN
• UPGRADED FLOORING
• NEW APPLIANCES
• VAULTED CEILINGS
• MOVE IN READY

Property features AI

Finance

• HOA & community: Community amenities include pool and clubhouse

Exterior

• Parking: 2 parking spaces
• Utilities: Public sewer (connected)
• Home design: Manufactured home; Single-story
• Construction: Asphalt roof
• Exterior features: Porch; Community pool; Community clubhouse; Has spa/hot tub

Interior

• Kitchen: Dishwasher; Gas cooktop; Microwave; Refrigerator
• Bedrooms: Possible 2 bedrooms
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Community-view setting; Shed on property
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $135k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.0% vs local median 2.5% in Lakeside — 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 55/100 on livability (#877 in CA) — a working-class tenant base; expect higher turnover. Strengths: employment A-, housing A-, health & safety B; Watch: commute D, crime D-, amenities 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; 2 comparable units currently listed for rent nearby; solid renter incomes; 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 $933 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 + 3.6% rent growth), your $38k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 137 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $118,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 137 days. Have you received any prior offers? Is the seller open to a 12% 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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.78% ✓
• Cap rate: 16.01%
• Cash-on-cash: 34.71%
• DSCR: 2.54
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $171,840
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13490 Highway 8 Business Spc 24	0.00mi	2/2.0	960 (0%)	1mo	$133,500	$139	99
13490 Highway 8 Business Spc 14	0.00mi	2/1.0	960 (0%)	6mo	$98,000	$102	91
13594 Highway 8 Business #33	0.14mi	2/2.0	987 (+3%)	3mo	$177,000	$179	86
13594 Highway 8 Business #42	0.14mi	2/2.0	960 (0%)	12mo	$193,000	$201	84
13594 Highway 8 Business #48	0.14mi	2/2.0	920 (-4%)	6mo	$170,000	$185	81
13490 Highway 8 Business Spc 23	0.00mi	2/2.0	1,040 (+8%)	8mo	$210,000	$202	79
13594 HWY 8 BUS #18	0.14mi	2/2.0	960 (0%)	22mo	$129,000	$134	75
13594 Highway 8 Business #64	0.16mi	3/2.0 (+1)	1,057 (+10%)	7mo	$169,000	$160	64
13594 Highway 8 Business #21	0.14mi	2/2.0	1,023 (+7%)	22mo	$197,000	$193	64
13490 Highway 8 Business Spc 53	0.00mi	3/2.0 (+1)	1,100 (+15%)	12mo	$110,000	$100	60
13300 Los Coches Rd E Spc 12	0.27mi	2/2.0	1,088 (+13%)	14mo	$207,000	$190	54
13594 Highway 8 Business Spc 7	0.14mi	3/2.0 (+1)	1,082 (+13%)	17mo	$190,000	$176	53

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 · 3.56% rent growth · sell at horizon

5-year hold

• IRR: 30.8%
• Equity multiple: 2.30×
• Total profit: $49,080
• Equity at exit: $20,129

10-year hold

• IRR: 38.3%
• Equity multiple: 4.65×
• Total profit: $137,883
• Equity at exit: $11,672

Cash invested: $37,800 (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 92040

• Rents YoY: 3.6%
• Active inventory: 148
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $2,402 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$40 /mo · $481/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$504
• Net cashflow: $1,093

Break-even live

Break-even rent $1,018

Max offer price $135,000

Occupancy floor 49%

Sensitivity live

Price	-10% $1,170	-5% $1,132	+0% $1,093	+5% $1,055	+10% $1,017
Rent	-10% $904	-5% $998	+0% $1,093	+5% $1,188	+10% $1,283
Rate	-1.0pp $1,161	-0.5pp $1,128	base $1,093	+0.5pp $1,058	+1.0pp $1,023

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8410 Los Coches Rd El Cajon, CA	2.0	2.0	900	$2,120	$2.36	0d	1	0.79mi
2000 E Main St El Cajon, CA	3.0	1.5–2.5	1165	$3,300	$2.83	0d	1	1.42mi

Listing history 4 events

1. 2026-04-29
   status Pending
2. 2026-03-18
   price $135,000
3. 2026-02-10
   price $165,000
4. 2025-12-10
   listed $175,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $481 · $40/mo
• Projected year-2 tax: $1,026 · $86/mo
• Expected delta: +$545/yr (+$45/mo · 113.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 6/10 Major 6 d/yr ≥98°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,825
• − Mortgage interest: −$7,562
• − Property taxes: −$481
• − Insurance: −$675
• − Repairs & maintenance: −$2,306
• − Management: −$2,306
• − Depreciation: −$3,927
• Taxable income: $11,568
• Est. tax owed @ 24.0%: −$2,776
• After-tax cash flow: $10,344/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: Lakeside Union Elementary
• NCES district ID: 0620790
• Math proficiency: 41% ▬ 0.00%
• Reading proficiency: 52% ▼ -1.00%
• Median HH income: $65,574
• Composite: 43.51/100
• National rank: #6453
• State rank: #480 of 1400 in CA

Livability — Lakeside

• Score: 55/100
• State rank: #877
• US rank: #23702

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lakeside, CA
• County: San Diego County · 3,178,799 people
• City population: 46,216
• Metro: San Diego-Chula Vista-Carlsbad, CA
• Population (ZIP): 46,216
• Household income: $107,937
• Rent vs Own: 32.3% rent · 67.7% own
• Severe rent burden: 1147.0

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 (69%)
• Race & ethnicity: White 69% Hispanic / Latino 22% Two or more races 11% Black 2% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 19%
• Common ancestry: Lithuanian 3% Italian 3% Slovak 2%
• Foreign-born: 8% · Canada
• Languages at home: 86% English-only · Spanish 10% Arabic 1% Other Indo-European 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: ▼ -622.09%
• Current HPI: 344.8263
• Rent YoY: ▲ 3.56%
• 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

-22.9% since first listed

4 events — show timeline

• 2026-04-29 Pending — SDMLS
• 2026-03-18 Price Changed $135,000 SDMLS
• 2026-02-10 Price Changed $165,000 SDMLS
• 2025-12-10 Listed $175,000 SDMLS

Property tax history

+3.4%/yr

Latest (2013): $481 · +3.6% YoY. Source: county tax records.