248 Starling Ln · Oceanside, CA 92057

$305,000

2 bd · 2.0 ba · 1,240 sqft · Manufactured · 14 Days on market

Built 1967 Fair condition Est $322k · 5% under $185/mo HOA · 6% of rent

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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 +14.7/30.0
• ARV discount +9.9/15.0
• 1% rule +4.8/10.0
• DSCR +4.5/10.0
• Schools +3.6/10.0
• Rent growth +3.3/5.0
• Livability +3.2/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This Beautiful Updated 1967 'Lancer' 2 Bedroom, 2 Bath (Full & 3/4) 1240 SF Home is located within San Luis Rey Homes 55+ 'Resident Owned Community'. Land Ownership is included & THERE IS NO SPACE RENT, NO LEASE PAYMENTS. And with the Low H. O. A. Fee of $160/month (includes Water, Trash & Sewer) makes this Community Desirable. Home Boasts a Beautiful Kitchen with its Granite Counters. Updated Whirlpool 4 Gas Burner Stove Top, Dishwasher, Refrigerator, Built-in Microwave. Washer and Dryer can Remain too. Vinyl flooring, tiled Bathroom Floors. The Master Bedroom Suite opens to the 'Deck Tex' in which to enjoy the Jacuzzi and terrifc Mountain/Hills Views. SLRH is conveniently located 5 plus/minus miles from the Coast and Centrally located to shopping, VA Clinic, Scripps Coast Medical Office and walking distance to Historic Mission San Luis Rey.

Key facts

• Gated community
• Sealed roof
• Privacy fence

Tags

• GATED COMMUNITY
• STAINLESS STEEL APPLIANCES
• COZY BACK PORCH
• PRIVACY FENCE
• SEALED ROOF
• FITNESS ROOM

Property features AI

Finance

• Other: Directions provided to access the property
• HOA & community: Part of an association (San Luis Rey Homes, Inc.); Monthly association fee of $185; Community amenities include water, sewer, trash, clubhouse, gym/exercise room, billiard room, common RV parking; Pets not permitted; Senior community; Community features include gutters and storm drains; Community of 328 units

Exterior

• Parking: Two carport spaces; Two total parking spaces
• Utilities: Public sewer
• Home design: Single-story property; No common walls (detached); R-1 zoning
• Construction: Foundation not certified (per listing)
• Exterior features: Landscaped lot; Level/flat lot; No pool

Interior

• Kitchen: Kitchen
• Bathrooms: Two full bathrooms
• Heating & cooling: Combination heating; High-efficiency heating; Dual cooling (has cooling)
• Interior features: One-level home with front door and driveway entry; Estimated living area; Has a view
• Laundry & utility: Laundry inside the unit; Washer included; Dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $305k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-46 ($-554/yr) — negative.
• To cash-flow at today's rent, offer at most $298k (2.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $300k (1.6% below list).
• Recommended offer: $298k (2.2% below list) — sets the bar for cash-flow.
• Cap rate 6.6% vs local median 2.5% in Oceanside — 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 64/100 on livability (#413 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A; Watch: schools D+, crime D, cost of living F.
• Oceanside Unified (suburban): math 31% / reading 51% proficiency, ranked #221 of 517 in CA (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.3%/yr); 246 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 11,759 units permitted in San Diego County in 2024 (7,244 in 5+ unit buildings).
• This rent runs 33% of the median local income ($109k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 9y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A99 (mandatory federal flood insurance); extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $298,316 (2.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.98% ✗
• Cap rate: 6.60%
• Cash-on-cash: 1.11%
• DSCR: 1.05
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $322,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
65 Hummingbird Ln	0.00mi	2/2.0	1,248 (+1%)	1mo	$335,000	$268	98
322 Killdeer	0.00mi	2/2.0	1,236 (-0%)	7mo	$360,000	$291	94
168 Roadrunner Ln	0.00mi	2/2.0	1,200 (-3%)	2mo	$385,000	$321	93
96 Pheasant Ln	0.00mi	2/2.0	1,280 (+3%)	8mo	$320,000	$250	88
99 Pheasant Ln	0.00mi	3/2.0 (+1)	1,176 (-5%)	3mo	$344,999	$293	84
328 Killdeer Ln	0.00mi	2/2.0	1,344 (+8%)	10mo	$325,000	$242	78
61 Hummingbird	0.00mi	2/1.0	1,392 (+12%)	2mo	$269,999	$194	74
30 Hummingbird Ln	0.00mi	3/2.0 (+1)	1,152 (-7%)	11mo	$300,000	$260	74
15 Oriole Ln	0.08mi	2/2.0	1,152 (-7%)	13mo	$300,000	$260	74
326 Killdeer Ln	0.00mi	2/2.0	1,060 (-14%)	8mo	$265,000	$250	70
12 Oriole Ln	0.08mi	2/2.0	1,100 (-11%)	12mo	$245,000	$223	68
138 Steven Ln	0.56mi	2/2.0	1,136 (-8%)	10mo	$255,500	$225	51

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 · 3.29% rent growth · sell at horizon

5-year hold

• IRR: -16.9%
• Equity multiple: 0.40×
• Total profit: $-51,251
• Equity at exit: $45,476

10-year hold

• IRR: -8.0%
• Equity multiple: 0.49×
• Total profit: $-43,832
• Equity at exit: $26,371

Cash invested: $85,400 (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 92057

• Rents YoY: 3.3%
• Active inventory: 246
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $3,002 high
• Mortgage (P&I): −$1,599
• Tax est. 1.5%: −$381 /mo · $4,575/yr
• Insurance: −$127
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$185
• Vacancy / Maint / Mgmt: −$630
• Net cashflow: $-46

Break-even live

Break-even rent $3,061

Max offer price $298,316

Occupancy floor 97%

Sensitivity live

Price	-10% $165	-5% $59	+0% $-46	+5% $-152	+10% $-257
Rent	-10% $-283	-5% $-165	+0% $-46	+5% $72	+10% $191
Rate	-1.0pp $107	-0.5pp $31	base $-46	+0.5pp $-125	+1.0pp $-206

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: $76,250
• Closing costs: $9,150
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4203 Mission Ranch Way Oceanside, CA	2.0	2.5	1284	$3,400	$2.65	44d	1	0.34mi
4110 Sitio Flor Oceanside, CA	3.0	2.0	1366	$3,595	$2.63	44d	1	0.37mi
4213 La Casita Way #4 Oceanside, CA	2.0	2.5	1210	$2,695	$2.23	44d	1	0.48mi
4504 Goldfinch Way Oceanside, CA	3.0	2.5	1436	$3,400	$2.37	25d	1	0.54mi
4212 Vista del Rio Way #2 Oceanside, CA	2.0	2.5	1224	$2,800	$2.29	44d	1	0.55mi
4265 Mesa Vista Way #3 Oceanside, CA	2.0	2.5	1210	$2,900	$2.40	44d	1	0.56mi
283 Douglas Dr Oceanside, CA	2.0–3.0	2.0	1017	$2,419	$2.38	0d	8	0.58mi
4236 Vista del Rio Way #2 Oceanside, CA	2.0	2.5	1500	$2,695	$1.80	21d	1	0.59mi
4479 Brisbane Way #6 Oceanside, CA	2.0	2.0	1141	$2,995	$2.62	6d	1	0.59mi
4483 Brisbane Way #1 Oceanside, CA	2.0	2.0	1141	$3,000	$2.63	44d	1	0.61mi
4398 Rainier Way Oceanside, CA	1.0–2.0	1.0–2.0	827	$2,750	$3.32	3d	6	0.63mi
185 Avenida Las Brisas Apt A Oceanside, CA	3.0	2.0	1350	$3,100	$2.30	44d	1	0.64mi
4233 Vista Panorama Way Oceanside, CA	2.0	2.5	1250	$1,500	$1.20	44d	1	0.68mi
634 Sumner Way #1 Oceanside, CA	2.0	2.0	1141	$2,895	$2.54	6d	1	0.70mi
190 Avenida Descanso Oceanside, CA	2.0	2.0	912	$2,650	$2.91	3d	1	0.72mi
4459 Anne Sladon St Oceanside, CA	3.0	1.0	1161	$2,950	$2.54	25d	1	0.73mi
256 Riverview Way Oceanside, CA	2.0	2.0	960	$2,950	$3.07	3d	1	0.75mi
256 Riverview Way Unit NA Oceanside, CA	2.0	2.0	960	$2,850	$2.97	6d	1	0.75mi
145 Francesca Dr Oceanside, CA	2.0	1.0	827	$2,600	$3.14	25d	1	0.77mi
4243 Arroyo Vista Way #330 Oceanside, CA	2.0	2.0	791	$3,700	$4.68	44d	1	0.82mi
141 Douglas Dr Unit 75 Oceanside, CA	2.0	2.0	1298	$2,375	$1.83	6d	1	0.83mi
4560 Anne Sladon St Oceanside, CA	2.0	1.0	837	$3,000	$3.58	44d	1	0.83mi
4251 Arroyo Vista Way #344 Oceanside, CA	3.0	2.0	1094	$3,850	$3.52	44d	1	0.83mi
4401 Mission Ave Oceanside, CA	1.0–3.0	1.0–2.0	975	$3,218	$3.30	0d	11	0.87mi
328 Riverview Way Oceanside, CA	2.0	2.0	932	$2,800	$3.00	25d	1	0.89mi
266 N El Camino Real Oceanside, CA	2.0	1.0	865	$2,500	$2.89	12d	4	0.89mi
263 San Dimas Ave Oceanside, CA	2.0	2.0	908	$3,850	$4.24	44d	1	0.92mi
4269 Black Duck Way Oceanside, CA	2.0	2.0	1056	$2,800	$2.65	11d	1	0.92mi
771 Iverson Point Way Oceanside, CA	2.0	1.5	1104	$3,050	$2.76	0d	1	0.94mi
771 Iverson Point Way Oceanside, CA	2.0	1.5	1104	$3,050	$2.76	16d	1	0.94mi
264 Rancho Del Oro Dr Oceanside, CA	2.0	1.0–2.0	988	$2,772	$2.81	0d	16	0.94mi
746 Point Arguello Oceanside, CA	3.0	2.0	1260	$3,495	$2.77	25d	1	1.02mi
757 Sunningdale Dr Oceanside, CA	3.0	2.0	1400	$4,200	$3.00	19d	1	1.02mi
4402 Shearwater Way Oceanside, CA	2.0	2.0	1072	$2,900	$2.71	44d	1	1.05mi
200 N El Camino Real #263 Oceanside, CA	2.0	2.0	1440	$2,475	$1.72	6d	1	1.07mi
200 N El Camino Real #291 Oceanside, CA	2.0	1.0	756	$2,055	$2.72	25d	1	1.07mi
200 N El Camino Real #52 Oceanside, CA	2.0	2.0	1500	$2,750	$1.83	6d	1	1.07mi
359 San Dimas Ave Oceanside, CA	2.0	1.0	820	$3,000	$3.66	21d	1	1.09mi
3891 San Ramon Dr Oceanside, CA	1.0–2.0	1.0–2.0	814	$2,908	$3.57	0d	23	1.09mi
513 Calle Montecito #66 Oceanside, CA	2.0	2.0	958	$2,350	$2.45	44d	1	1.15mi

HOA detail

• Monthly dues: $185 · $2,220/yr
• Likely covers: watersewertrashgaspool

Listing history 10 events

1. 2026-06-21
   days on market $305,000 Active 14 DOM
2. 2026-06-18
   days on market $305,000 Active 11 DOM
3. 2026-06-17
   days on market $305,000 Active 10 DOM
4. 2026-06-16
   days on market $305,000 Active 9 DOM
5. 2026-06-15
   days on market $305,000 Active 8 DOM
6. 2026-06-13
   days on market $305,000 Active 6 DOM
7. 2026-06-13
   days on market $305,000 Active 5 DOM
8. 2026-06-09
   days on market $305,000 Active 2 DOM
9. 2026-06-08
   remarks 669-char remark
10. 2026-06-08
    listed $305,000 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 7/10 Severe FEMA zone A99 · 76% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥87°F today · 23 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,027
• − Mortgage interest: −$17,085
• − Property taxes: −$4,575
• − Insurance: −$3,028
• − Repairs & maintenance: −$2,882
• − Management: −$2,882
• − HOA: −$2,220
• − Depreciation: −$8,873
• Taxable loss: −$5,517
• Est. tax savings @ 24.0%: +$1,324
• After-tax cash flow: $770/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 · 12 photos

Fair 45/100 Moderate rehab

This manufactured home requires moderate repairs and maintenance, with average condition overall. Upgrades to interior walls, flooring, and fans would significantly enhance its resale and rental value.

Repairs flagged

• Minor Living room carpet — Worn and faded
• Minor Dining room hardwood floor — Slightly worn

Value-add opportunities

• Resale Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Resale Replace living room carpet — New carpet improves comfort and appearance
• Resale Replace dining room hardwood floor — New flooring enhances durability and appearance
• Both Replace ceiling fans — New fans improve air circulation and aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
Living room carpet · Worn and faded	Minor	$500–3,000
Dining room hardwood floor · Slightly worn	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Resale Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Resale Replace living room carpet — New carpet improves comfort and appearance ↑
• Resale Replace dining room hardwood floor — New flooring enhances durability and appearance ↑
• Both Replace ceiling fans — New fans improve air circulation and aesthetics ↑

ⓘ 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: Oceanside Unified
• NCES district ID: 0628250
• Math proficiency: 31% ▼ -5.00%
• Reading proficiency: 51% ▲ 6.00%
• Median HH income: $55,158
• Composite: 35.74/100
• National rank: #4853
• State rank: #221 of 517 in CA

Livability — Oceanside

• Score: 64/100
• State rank: #413
• US rank: #14081

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oceanside, CA
• County: San Diego County · 3,178,799 people
• City population: 198,702
• Metro: San Diego-Chula Vista-Carlsbad, CA
• Population (ZIP): 56,835
• Household income: $108,814
• Rent vs Own: 30.9% rent · 69.1% own
• Severe rent burden: 1509.0

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: Hispanic / Latino 40% White 40% Two or more races 24% Asian 9% Black 5%
• Hispanic origin (detail): Mexican 33% Puerto Rican 1%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 2%
• Foreign-born: 21% · Canada, Vietnam, China
• Languages at home: 66% English-only · Spanish 25% Tagalog/Filipino 2% 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: ▼ -1014.18%
• Current HPI: 393.7681
• Rent YoY: ▲ 3.29%
• 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

+136.4% since first listed

15 events — show timeline

• 2026-06-08 Listed $305,000 CRMLS
• 2023-04-21 Sold (MLS) $285,000 CRMLS
• 2023-03-27 Pending — CRMLS
• 2023-03-22 Relisted — CRMLS
• 2023-03-15 Pending — CRMLS
• 2023-03-05 Listed $289,000 CRMLS
• 2021-10-21 Sold (MLS) $289,000 CRMLS
• 2021-10-12 Pending — CRMLS
• 2021-10-06 Price Changed $289,000 CRMLS
• 2021-10-06 Relisted — CRMLS
• 2021-09-27 Pending — CRMLS
• 2021-08-27 Price Changed $299,000 CRMLS
• 2021-08-23 Listed $314,900 CRMLS
• 2017-03-23 Sold (MLS) $115,000 CRMLS
• 2017-01-18 Listed $129,000 CRMLS