1120 E Mission Rd #79 · Fallbrook, CA 92028

$140,799

2 bd · 2.0 ba · 1,400 sqft · Manufactured · 118 Days on market

Built 1971 13 ac lot Est $151k · 7% under

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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 +10.6/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.9/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Livability +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

* * Special Incentives: Crestview Hills is currently offering 3 months FREE space rent. Seller is offering an additional credit equivalent to 2 months of space rent at close of escrow, combined potential savings of up to 5 months (subject to park approval and terms). * * Welcome to the desirable 55+ active adult community of Crestview Hills in beautiful Fallbrook. Conveniently located just minutes from the center of town with abundant shopping and dining, this charming community offers both comfort and lifestyle. Residents of Crestview Hills enjoy impressive amenities including a recently renovated clubhouse and kitchen, pool, spa, dog run, BBQ area, library/computer room, fitness cente

Key facts

• Versatile space
• Abundant cabinetry
• Granite countertops

Tags

• RECENTLY RENOVATED CLUBHOUSE
• ENGINEERED WOOD FLOORING
• ABUNDANT CABINETRY
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• VERSATILE SPACE

Property features AI

Finance

• Other: Directions provided to enter the community
• Financial info: Land lease: $1,550 monthly (land lease applies); Rent includes pool (see remarks)
• HOA & community: Community amenities include pool, spa, barbecue area, dog park, gym/exercise room, clubhouse; Senior community; Community features: curbs, sidewalks, street lighting, suburban setting; Park name: Crestview Hills; Manager approval required

Exterior

• Parking: Carport (1 space)
• Utilities: Public sewer; District/public water
• Home design: Single-story home; Entry on level 1; Mobile home model: Royal Chateau; Mobile home remains on site; 24 ft by 60 ft mobile home
• Construction: Listed year built from public records
• Exterior features: Porch; Patio; Shed; Association pool

Interior

• Kitchen: Dishwasher; Gas oven; Gas range; Microwave; Granite counters
• Bedrooms: Bedrooms located on the main level
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central cooling
• Interior features: Ceiling fan; Granite counters; One-level living; All bedrooms on main level
• Laundry & utility: Laundry inside the home

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $141k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $141k).
• Recommended offer: $128k (9.0% below list) — sets the bar for market timing.
• Cap rate 18.2% vs local median 2.4% in Fallbrook — 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 42/100 on livability (#1,364 in CA) — a working-class tenant base; expect higher turnover. Watch: schools D+, crime D-, amenities F.
• Fallbrook Union High (suburban): math 32% / reading 58% proficiency, ranked #183 of 517 in CA (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-0.3%/yr); 345 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 3d 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).
• This rent runs 32% of the median local income ($111k/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 $973 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 + 0.0% rent growth), your $39k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 118 days — a 9% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 7y 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 $71k; list at $141k implies a 98% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 5→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $128,127 (9.0% below list)

Questions for the listing agent

1. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 2.13% ✓
• Cap rate: 18.22%
• Cash-on-cash: 42.59%
• DSCR: 2.89
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $151,200
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1120 E Mission Rd #102	0.00mi	2/2.0	1,440 (+3%)	2mo	$429,000	$298	93
1120 E Mission Rd #27	0.00mi	2/2.0	1,400 (0%)	8mo	$139,000	$99	93
1120 E Mission Rd #37	0.03mi	2/2.0	1,440 (+3%)	6mo	$75,000	$52	89
1120 E Mission Rd Space 94	0.03mi	2/2.0	1,440 (+3%)	23mo	$155,000	$108	75

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: 35.9%
• Equity multiple: 2.46×
• Total profit: $57,542
• Equity at exit: $20,994

10-year hold

• IRR: 41.0%
• Equity multiple: 4.32×
• Total profit: $131,029
• Equity at exit: $12,174

Cash invested: $39,424 (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 92028

• Rents YoY: -0.3%
• Active inventory: 345
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $3,003 high
• Mortgage (P&I): −$738
• Tax est. 1.5%: −$176 /mo · $2,112/yr
• Insurance: −$59
• HOA: −$0
• Vacancy / Maint / Mgmt: −$631
• Net cashflow: $1,399

Break-even live

Break-even rent $1,232

Max offer price $140,799

Occupancy floor 48%

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: $35,200
• Closing costs: $4,224
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
421 Potter St Fallbrook, CA	1.0–2.0	1.0–2.0	726	$2,100	$2.89	2d	2	0.69mi
757 N Stage Coach Ln Fallbrook, CA	3.0	2.0	1508	$3,900	$2.59	22d	1	0.70mi
338 E Fallbrook St Fallbrook, CA	2.0	2.0	976	$2,495	$2.56	3d	1	0.91mi
611 Summit Ave Fallbrook, CA	3.0	2.0	1506	$3,500	$2.32	10d	1	1.28mi
744 W Fallbrook St Fallbrook, CA	1.0–2.0	1.0–2.0	780	$2,200	$2.82	2d	1	1.40mi

Listing history 38 events

1. 2026-06-18
   days on market $140,799 Active 118 DOM
2. 2026-06-17
   days on market $140,799 Active 117 DOM
3. 2026-06-16
   days on market $140,799 Active 116 DOM
4. 2026-06-15
   days on market $140,799 Active 115 DOM
5. 2026-06-13
   days on market $140,799 Active 113 DOM
6. 2026-06-13
   days on market $140,799 Active 112 DOM
7. 2026-06-09
   days on market $140,799 Active 109 DOM
8. 2026-06-08
   days on market $140,799 Active 108 DOM
9. 2026-06-07
   days on market $140,799 Active 107 DOM
10. 2026-06-04
    days on market $140,799 Active 104 DOM
11. 2026-06-03
    days on market $140,799 Active 103 DOM
12. 2026-06-02
    days on market $140,799 Active 102 DOM
13. 2026-06-01
    days on market $140,799 Active 101 DOM
14. 2026-05-31
    days on market $140,799 Active 100 DOM
15. 2026-04-30
    price $140,799
16. 2026-02-20
    listed $140,800 Active
17. 2024-10-31
    historical
18. 2024-10-25
    price $139,000
19. 2024-10-11
    price $139,900
20. 2024-09-28
    price $139,990
21. 2024-09-19
    listed $139,999 Active
22. 2024-09-19
    price $139,999
23. 2024-09-12
    historical
24. 2024-08-06
    historical
25. 2024-07-06
    price $155,000
26. 2024-06-08
    price $162,500
27. 2024-04-21
    listed $165,000 Active
28. 2024-04-20
    historical
29. 2021-01-11
    historical
30. 2020-08-28
    listed $85,000 Active
31. 2020-08-15
    historical
32. 2020-08-14
    status Active
33. 2020-08-11
    status Pending
34. 2020-07-30
    price $69,900
35. 2020-07-13
    listed $79,900 Active
36. 2019-05-13
    soldstatus $71,000 Closed Sale
37. 2019-04-25
    historical Active Under Contract
38. 2019-04-08
    listed $83,000 Active

ⓘ 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 7/10 Severe
• 🌡 Heat 6/10 Major 5 d/yr ≥94°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,033
• − Mortgage interest: −$7,887
• − Property taxes: −$2,112
• − Insurance: −$704
• − Repairs & maintenance: −$2,883
• − Management: −$2,883
• − Depreciation: −$4,096
• Taxable income: $15,469
• Est. tax owed @ 24.0%: −$3,713
• After-tax cash flow: $13,077/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: Fallbrook Union High
• NCES district ID: 0613530
• Math proficiency: 32% ▲ 11.00%
• Reading proficiency: 58% ▲ 9.00%
• Median HH income: $56,644
• Composite: 39.17/100
• National rank: #4025
• State rank: #183 of 517 in CA

Livability — Fallbrook

• Score: 42/100
• State rank: #1364
• US rank: #27057

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fallbrook, CA
• County: San Diego County · 3,178,799 people
• City population: 52,227
• Metro: San Diego-Chula Vista-Carlsbad, CA
• Population (ZIP): 52,227
• Household income: $111,290
• Rent vs Own: 28.5% rent · 71.5% own
• Severe rent burden: 1384.0

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 0.59)
• Race & ethnicity: White 48% Hispanic / Latino 42% Two or more races 21% Asian 4% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 35%
• Common ancestry: Slovak 2% Italian 2% Romanian 2%
• Foreign-born: 21% · Canada, Vietnam, China
• Languages at home: 66% English-only · Spanish 29% Tagalog/Filipino 1% 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: ▼ -533.50%
• Current HPI: 320.7162
• Rent YoY: ▼ -0.35%
• 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

+69.6% since first listed

24 events — show timeline

• 2026-04-30 Price Changed $140,799 CRMLS
• 2026-02-20 Listed $140,800 CRMLS
• 2024-10-31 Listing Removed — CRMLS
• 2024-10-25 Price Changed $139,000 CRMLS
• 2024-10-11 Price Changed $139,900 CRMLS
• 2024-09-28 Price Changed $139,990 CRMLS
• 2024-09-19 Listed $139,999 CRMLS
• 2024-09-19 Price Changed $139,999 CRMLS
• 2024-09-12 Coming Soon — CRMLS
• 2024-08-06 Listing Removed — CRMLS
• 2024-07-06 Price Changed $155,000 CRMLS
• 2024-06-08 Price Changed $162,500 CRMLS
• 2024-04-21 Listed $165,000 CRMLS
• 2024-04-20 Coming Soon — CRMLS
• 2021-01-11 Listing Removed — CRMLS
• 2020-08-28 Listed $85,000 CRMLS
• 2020-08-15 Listing Removed — SDMLS
• 2020-08-14 Relisted — SDMLS
• 2020-08-11 Pending — SDMLS
• 2020-07-30 Price Changed $69,900 SDMLS
• 2020-07-13 Listed $79,900 SDMLS
• 2019-05-13 Sold (MLS) $71,000 CRMLS
• 2019-04-25 Contingent — CRMLS
• 2019-04-08 Listed $83,000 CRMLS