2950 Iris Ave #33 · San Diego, CA 92154

$240,000

2 bd · 2.0 ba · 1,140 sqft · Manufactured · 219 Days on market

Built 2016 2,000 sqft lot Est $231k · at est.

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Why this score? — see what drove the C+ 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 +26.5/30.0
• DSCR +9.0/10.0
• 1% rule +7.1/10.0
• ARV discount +5.8/15.0
• Schools +3.9/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Brand New, Never Been Occupied New Kitchen Appliances 55/18 Senior Community Close to Trolley/Bus Easy Freeway Access Large Front Porch

Key facts

• Porch
• Appliances included
• Spacious carport

Tags

• SPACIOUS CARPORT
• PORCH
• APPLIANCES INCLUDED

Property features AI

Finance

• Other: Property located at 2950 Iris Ave #33, San Diego, CA 92154; Directions: On Freeway i-905 exit on Beyer Blvd and continue west straight to Iris Avenue, then enter the park at 2950 Iris, space 33 is at the bottom left of the park
• HOA & community: Senior community; Land lease community with a monthly land lease of $1,115

Exterior

• Parking: 2 carport spaces (total 2 parking spaces); Located in Iris Mobile Manor park
• Utilities: Public sewer
• Home design: Single-story mobile home; Mobile home remains on site; Mobile dimensions approximately 20' x 58'; Entry level is ground floor
• Construction: Estimated lot size: 0-1 unit/acre
• Exterior features: Community pool; Urban community

Interior

• Bathrooms: 2 full bathrooms
• Interior features: One-level home; Front and carport door entry; Den
• Laundry & utility: Laundry in an individual room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $240k.

Deal economics

• At list price, monthly cash flow is $635 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Recommended offer: $211k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 2.0% in San Diego — 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 75/100 on livability (#123 in CA, #4,206 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: health & safety C-, crime D+, cost of living F.
• Sweetwater Union High (suburban): math 36% / reading 52% proficiency, ranked #187 of 517 in CA (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-0.5%/yr); 210 active listings in the ZIP; 23 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).
• This rent runs 37% of the median local income ($95k/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 $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 219 days — a 12% lower offer ($211k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 19y 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 $105k; list at $240k implies a 129% gain — meaningful room to come down on a strong offer.

Recommended offer $211,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 219 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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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?
6. 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.
7. 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.
8. 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: 1.21% ✓
• Cap rate: 9.47%
• Cash-on-cash: 11.34%
• DSCR: 1.50
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $231,420
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2888 Iris Ave #84	0.16mi	3/2.0 (+1)	1,040 (-9%)	3mo	$215,000	$207	71
2888 Iris Ave Spc 81	0.16mi	3/2.0 (+1)	1,180 (+4%)	14mo	$240,000	$203	70
3340 Del Sol Blvd #161	0.72mi	2/2.0	1,200 (+5%)	2mo	$85,000	$71	56
3340 Del Sol Blvd #249	0.72mi	2/2.0	1,152 (+1%)	13mo	$163,000	$141	54
3340 Del Sol Blvd #77	0.72mi	2/2.0	1,120 (-2%)	16mo	$120,000	$107	51
2626 Coronado Ave #66	0.68mi	2/2.0	1,080 (-5%)	22mo	$217,000	$201	41
2626 Coronado Ave #101	0.68mi	3/2.0 (+1)	1,248 (+10%)	16mo	$290,000	$232	34
2626 Coronado Ave Spc 2	0.68mi	3/2.0 (+1)	1,254 (+10%)	22mo	$292,000	$233	29

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -2.8%
• Equity multiple: 0.90×
• Total profit: $-6,906
• Equity at exit: $35,785

10-year hold

• IRR: 3.2%
• Equity multiple: 1.20×
• Total profit: $13,366
• Equity at exit: $20,751

Cash invested: $67,200 (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 92154

• Rents YoY: -0.5%
• Active inventory: 210
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,903 high
• Mortgage (P&I): −$1,259
• Tax est. 1.5%: −$300 /mo · $3,600/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$610
• Net cashflow: $635

Break-even live

Break-even rent $2,099

Max offer price $240,000

Occupancy floor 73%

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1391 27th St San Diego, CA	1.0–2.0	1.0–2.0	700	$2,495	$3.56	1d	3	0.27mi
1587 Oro Vista Rd San Diego, CA	1.0–2.0	1.0–2.0	805	$2,495	$3.10	1d	4	0.42mi
1767 Oro Vista Rd San Diego, CA	2.0	1.5–2.0	815	$2,370	$2.91	1d	1	0.53mi
1394 Oro Vista Rd San Diego, CA	2.0–3.0	2.0	1088	$2,725	$2.50	1d	4	0.62mi
3454 Del Sol Blvd Unit F San Diego, CA	2.0	1.0	800	$1,950	$2.44	16d	1	0.70mi
3624 Marzo St San Diego, CA	3.0	2.0	1330	$3,295	$2.48	19d	1	0.74mi
2683 Caulfield Dr San Diego, CA	3.0	2.0	1445	$3,995	$2.76	1d	1	0.75mi
879 W San Ysidro Blvd #6 San Ysidro, CA	2.0	2.0	729	$2,295	$3.15	1d	1	0.76mi
2367 Grove Ave San Diego, CA	1.0–2.0	1.0	741	$2,495	$3.36	1d	4	0.77mi
1729 Hollister St #15 San Diego, CA	3.0	2.0	1224	$3,100	$2.53	1d	1	0.81mi
813 Beyer Way San Diego, CA	3.0	2.5	1495	$3,500	$2.34	2d	1	0.88mi
3509 Vista Ln San Ysidro, CA	2.0	1.0	722	$2,119	$2.93	1d	1	0.94mi
1001 Outer Rd San Diego, CA	2.0	2.0	1000	$2,538	$2.54	1d	5	1.04mi
3560 Sunset Ln #53 San Ysidro, CA	2.0	2.0	818	$2,350	$2.87	1d	1	1.06mi
3590 Arey Dr San Diego, CA	3.0	2.0	1061	$3,995	$3.77	1d	1	1.07mi
3763 Via del Bardo San Ysidro, CA	3.0	2.5	1472	$4,200	$2.85	2d	1	1.10mi
3822 Enero Ct San Diego, CA	3.0	2.0	1012	$3,850	$3.80	10d	1	1.14mi
1515 Kenalan Dr San Diego, CA	3.0	2.0	1140	$3,500	$3.07	1d	1	1.25mi
768 Hollister St San Diego, CA	2.0	2.0	840	$2,300	$2.74	1d	1	1.27mi
1632 Neptune Ave San Diego, CA	2.0	3.0	1193	$3,200	$2.68	23d	1	1.28mi
1608-1687 Neptune Ave Unit 1687 San Diego, CA	2.0	3.0	1193	$3,200	$2.68	17d	1	1.28mi
1675 Neptune Ave San Diego, CA	2.0	3.0	1193	$3,200	$2.68	14d	1	1.29mi
1687 Neptune Ave San Diego, CA	2.0	3.0	1193	$3,200	$2.68	19d	1	1.31mi

Listing history 34 events

1. 2026-06-18
   days on market $240,000 Active 219 DOM
2. 2026-06-17
   days on market $240,000 Active 218 DOM
3. 2026-06-16
   days on market $240,000 Active 217 DOM
4. 2026-06-15
   days on market $240,000 Active 216 DOM
5. 2026-06-13
   days on market $240,000 Active 214 DOM
6. 2026-06-13
   days on market $240,000 Active 213 DOM
7. 2026-06-09
   days on market $240,000 Active 210 DOM
8. 2026-06-08
   days on market $240,000 Active 209 DOM
9. 2026-06-07
   days on market $240,000 Active 208 DOM
10. 2026-06-04
    days on market $240,000 Active 205 DOM
11. 2026-06-03
    days on market $240,000 Active 204 DOM
12. 2026-06-02
    days on market $240,000 Active 203 DOM
13. 2026-06-01
    days on market $240,000 Active 202 DOM
14. 2026-05-31
    days on market $240,000 Active 201 DOM
15. 2025-11-10
    listed $240,000 Active
16. 2018-11-22
    soldstatus $105,000 Closed Sale 135-char remark

    Show marketing remark (135 chars)

    Brand New, Never Been Occupied New Kitchen Appliances 55/18 Senior Community Close to Trolley/Bus Easy Freeway Access Large Front Porch

17. 2018-11-22
    soldstatus $105,000 Sold 135-char remark

    Show marketing remark (135 chars)

    Brand New, Never Been Occupied New Kitchen Appliances 55/18 Senior Community Close to Trolley/Bus Easy Freeway Access Large Front Porch

18. 2018-08-06
    status Pending 135-char remark

    Show marketing remark (135 chars)

    Brand New, Never Been Occupied New Kitchen Appliances 55/18 Senior Community Close to Trolley/Bus Easy Freeway Access Large Front Porch

19. 2018-08-06
    historical 135-char remark

    Show marketing remark (135 chars)

    Brand New, Never Been Occupied New Kitchen Appliances 55/18 Senior Community Close to Trolley/Bus Easy Freeway Access Large Front Porch

20. 2018-07-19
    price $105,000 135-char remark

    Show marketing remark (135 chars)

    Brand New, Never Been Occupied New Kitchen Appliances 55/18 Senior Community Close to Trolley/Bus Easy Freeway Access Large Front Porch

21. 2018-07-18
    status Active 135-char remark

    Show marketing remark (135 chars)

    Brand New, Never Been Occupied New Kitchen Appliances 55/18 Senior Community Close to Trolley/Bus Easy Freeway Access Large Front Porch

22. 2018-06-18
    status Pending 135-char remark

    Show marketing remark (135 chars)

    Brand New, Never Been Occupied New Kitchen Appliances 55/18 Senior Community Close to Trolley/Bus Easy Freeway Access Large Front Porch

23. 2018-02-18
    listed $105,000 135-char remark

    Show marketing remark (135 chars)

    Brand New, Never Been Occupied New Kitchen Appliances 55/18 Senior Community Close to Trolley/Bus Easy Freeway Access Large Front Porch

24. 2018-02-18
    listed $112,000 Active 135-char remark

    Show marketing remark (135 chars)

    Brand New, Never Been Occupied New Kitchen Appliances 55/18 Senior Community Close to Trolley/Bus Easy Freeway Access Large Front Porch

25. 2018-02-10
    historical
26. 2018-02-09
    historical
27. 2018-01-17
    price $112,000
28. 2017-08-10
    listed $117,000 Active
29. 2017-08-09
    listed $112,000
30. 2009-08-22
    price $89,900 Expired
31. 2009-04-01
    historical
32. 2007-08-15
    price $129,900
33. 2007-05-12
    price $99,900
34. 2007-03-23
    listed $89,900

ⓘ 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 2/10 Low
• 🌡 Heat 4/10 Moderate 6 d/yr ≥86°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,841
• − Mortgage interest: −$13,444
• − Property taxes: −$3,600
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,787
• − Management: −$2,787
• − Depreciation: −$6,982
• Taxable income: $4,041
• Est. tax owed @ 24.0%: −$970
• After-tax cash flow: $6,651/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: Sweetwater Union High
• NCES district ID: 0638640
• Math proficiency: 36% ▲ 3.00%
• Reading proficiency: 52% ▼ -2.00%
• Median HH income: $59,051
• Composite: 38.61/100
• National rank: #4158
• State rank: #187 of 517 in CA

Livability — San Diego

• Score: 75/100
• State rank: #123
• US rank: #4206

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: San Diego, CA
• County: San Diego County · 3,178,799 people
• City population: 1,397,612
• Metro: San Diego-Chula Vista-Carlsbad, CA
• Population (ZIP): 80,445
• Household income: $94,901
• Rent vs Own: 38.9% rent · 61.1% own
• Severe rent burden: 2959.0

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 Hispanic (68%)
• Race & ethnicity: Hispanic / Latino 68% Two or more races 30% White 12% Asian 12% Black 5% Native American 1%
• Hispanic origin (detail): Mexican 65%
• Foreign-born: 32% · Canada, China
• Languages at home: 35% English-only · Spanish 56% Tagalog/Filipino 7% 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: ▼ -568.62%
• Current HPI: 393.1836
• Rent YoY: ▼ -0.52%
• 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

+167.0% since first listed

20 events — show timeline

• 2025-11-10 Listed $240,000 CRMLS
• 2018-11-22 Sold (MLS) $105,000 SDMLS
• 2018-11-22 Sold (MLS) $105,000 CRMLS
• 2018-08-06 Pending — SDMLS
• 2018-08-06 Listing Removed — CRMLS
• 2018-07-19 Price Changed $105,000 SDMLS
• 2018-07-18 Relisted — SDMLS
• 2018-06-18 Pending — SDMLS
• 2018-02-18 Listed $112,000 SDMLS
• 2018-02-18 Listed $105,000 CRMLS
• 2018-02-10 Listing Removed — SDMLS
• 2018-02-09 Listing Removed — CRMLS
• 2018-01-17 Price Changed $112,000 SDMLS
• 2017-08-10 Listed $117,000 SDMLS
• 2017-08-09 Listed $112,000 CRMLS
• 2009-08-22 Price Changed $89,900 SDMLS
• 2009-04-01 Listing Removed — SDMLS
• 2007-08-15 Price Changed $129,900 SDMLS
• 2007-05-12 Price Changed $99,900 SDMLS
• 2007-03-23 Listed $89,900 SDMLS