3505 Alpine Blvd #15 · Alpine, CA 91901

$159,900

2 bd · 2.0 ba · 840 sqft · Manufactured · 22 Days on market

Built 2021 Good condition 9.43 ac lot ↓ 7% 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
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Condition / age +4.0/5.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a beautiful, spacious home in an all ages park with a pool. This home has high ceilings, a spacious living area, cam lighting, and you'll love the convenience of the separate laundry room. The primary bedroom offers a beautiful en-suite bathroom. This unique home is tucked away in the back with no homes across, just a beautiful view of nature. You will love the open floor plan that makes this feel like home. The high ceilings and large living space are perfect for gatherings and family time. The kitchen includes plenty of storage and opens up to the living room. The current seller is the first owner of this home and they have taken great care of it. The home is move in ready, just bring your furniture. You'll love the location - close to the 8 freeway and all the amenities Alpine has to offer. With a pool on site, this is perfect for summertime fun. Make an appointment today to come see this beautiful home for yourself. * * Seller can assist with buyers closing costs * *

Key facts

• Clubhouse
• Community pool
• Porch entry

Tags

• COMMUNITY POOL
• CLUBHOUSE
• VIEW OF MOUNTAINS
• PORCH ENTRY
• OPEN KITCHEN
• STAINLESS STEEL APPLIANCES

Property features AI

Finance

• Other: Manager approval required for residency; Pets allowed (cats and dogs; size limits may apply)
• Financial info: Land lease applies (monthly land lease amount reported separately)
• HOA & community: Alpine Oaks Estates association; Community amenities include pool and gardener service included with rent; Park name: Alpine Oaks

Exterior

• Parking: Attached carport; Carport with 2 spaces; Concrete driveway; Paved, private parking; Metered parking (see remarks)
• Security: Carbon monoxide detector(s); Smoke detector; Resident manager
• Utilities: Standard electric service; Electricity connected; Cable available and connected; Underground utilities; Public sewer; Private/shared well water (see remarks)
• Home design: Single-story; Entry at front; Faces south; Mobile home remains (20 x 42, model 220CL20442L); Turnkey condition
• Construction: Composition roof; Drywall walls; Hardboard siding; Wood construction; Pier jacks foundation; Year built per assessor
• Exterior features: Balcony; Shed; No fencing; Community/in-ground pool (fenced, filtered); Close to clubhouse; Level with street; Street lighting; Valley view; Paved access road

Interior

• Kitchen: Dishwasher; Free-standing range; Garbage disposal; Gas & electric range; Gas cooking; Microwave; Range/stove hood; Recirculated exhaust fan; Refrigerator; Ice maker; Water line to refrigerator; Gas water heater; Formica counters
• Bedrooms: Main floor bedroom; Main floor primary bedroom
• Flooring: Laminate flooring; Carpet
• Bathrooms: Two full bathrooms; Double sinks in primary bath; Separate tub and shower; Walk-in shower; Linen storage; Exhaust fan(s); Bathtub
• Heating & cooling: Central cooling; Central furnace; Forced air; Natural gas heating
• Interior features: Formica counters; High ceilings (9 feet+); Open floor plan; Recessed lighting; Panel doors; Sliding glass door(s); Double pane windows; Carbon monoxide detector(s); Smoke detector; Resident manager; Association spa
• Laundry & utility: Washer included; Dryer included; Washer hookup; Dryer hookup (gas & electric and electric); Inside laundry room; Individual laundry room; Stackable-capable

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $160k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $668 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $158k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.3% vs local median 1.4% in Alpine — 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 58/100 on livability (#711 in CA) — a working-class tenant base; expect higher turnover. Strengths: employment A+, commute A-, crime B; Watch: amenities F, cost of living F, health & safety F.
• Grossmont Union High (suburban): math 31% / reading 60% proficiency, ranked #173 of 517 in CA (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Granite Hills High (math 31% / reading 59%, grade D-, #425 of 1,170 statewide, top 37%, 2,398 students, 60% FRL) — zoned schools average 60% FRL vs 17% district-wide (43 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 85 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 + 0.1% rent growth), your $45k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $36k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $157,501 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.40% ✓
• Cap rate: 11.31%
• Cash-on-cash: 17.91%
• DSCR: 1.80
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.1% rent growth · sell at horizon

5-year hold

• IRR: 6.1%
• Equity multiple: 1.23×
• Total profit: $10,309
• Equity at exit: $23,842

10-year hold

• IRR: 12.7%
• Equity multiple: 1.88×
• Total profit: $39,260
• Equity at exit: $13,825

Cash invested: $44,772 (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 91901

• Rents YoY: 0.1%
• Active inventory: 85
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $2,244 medium
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,398/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$471
• Net cashflow: $668

Break-even live

Break-even rent $1,399

Max offer price $159,900

Occupancy floor 65%

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2660 Alpine Blvd Alpine, CA	1.0–2.0	1.0–2.0	750	$2,549	$3.40	1d	10	0.98mi
2616 Alpine Blvd #24 Alpine, CA	2.0	1.0	786	$2,195	$2.79	4d	1	1.09mi
2616 Alpine Blvd #20 Alpine, CA	2.0	1.0	786	$1,995	$2.54	1d	1	1.09mi

Listing history 20 events

1. 2026-06-18
   days on market $159,900 Active 22 DOM
2. 2026-06-17
   days on market $159,900 Active 21 DOM
3. 2026-06-16
   days on market $159,900 Active 20 DOM
4. 2026-06-15
   days on market $159,900 Active 19 DOM
5. 2026-06-13
   days on market $159,900 Active 17 DOM
6. 2026-06-09
   days on market $159,900 Active 13 DOM
7. 2026-06-08
   days on market $159,900 Active 12 DOM
8. 2026-06-07
   days on market $159,900 Active 11 DOM
9. 2026-06-04
   days on market $159,900 Active 8 DOM
10. 2026-06-03
    days on market $159,900 Active 7 DOM
11. 2026-06-02
    days on market $159,900 Active 6 DOM
12. 2026-06-01
    days on market $159,900 Active 5 DOM
13. 2026-05-31
    days on market $159,900 Active 4 DOM
14. 2026-02-08
    price $185,900
15. 2025-11-24
    listed $195,900 Active
16. 2022-10-10
    soldstatus $175,000 Closed Sale 995-char remark

    Show marketing remark (995 chars)

    This is a beautiful, spacious home in an all ages park with a pool. This home has high ceilings, a spacious living area, cam lighting, and you'll love the convenience of the separate laundry room. The primary bedroom offers a beautiful en-suite bathroom. This unique home is tucked away in the back with no homes across, just a beautiful view of nature. You will love the open floor plan that makes this feel like home. The high ceilings and large living space are perfect for gatherings and family time. The kitchen includes plenty of storage and opens up to the living room. The current seller is the first owner of this home and they have taken great care of it. The home is move in ready, just bring your furniture. You'll love the location - close to the 8 freeway and all the amenities Alpine has to offer. With a pool on site, this is perfect for summertime fun. Make an appointment today to come see this beautiful home for yourself. * * Seller can assist with buyers closing costs * *

17. 2022-09-10
    status Pending Sale 995-char remark

    Show marketing remark (995 chars)

    This is a beautiful, spacious home in an all ages park with a pool. This home has high ceilings, a spacious living area, cam lighting, and you'll love the convenience of the separate laundry room. The primary bedroom offers a beautiful en-suite bathroom. This unique home is tucked away in the back with no homes across, just a beautiful view of nature. You will love the open floor plan that makes this feel like home. The high ceilings and large living space are perfect for gatherings and family time. The kitchen includes plenty of storage and opens up to the living room. The current seller is the first owner of this home and they have taken great care of it. The home is move in ready, just bring your furniture. You'll love the location - close to the 8 freeway and all the amenities Alpine has to offer. With a pool on site, this is perfect for summertime fun. Make an appointment today to come see this beautiful home for yourself. * * Seller can assist with buyers closing costs * *

18. 2022-08-24
    price $189,000 995-char remark

    Show marketing remark (995 chars)

    This is a beautiful, spacious home in an all ages park with a pool. This home has high ceilings, a spacious living area, cam lighting, and you'll love the convenience of the separate laundry room. The primary bedroom offers a beautiful en-suite bathroom. This unique home is tucked away in the back with no homes across, just a beautiful view of nature. You will love the open floor plan that makes this feel like home. The high ceilings and large living space are perfect for gatherings and family time. The kitchen includes plenty of storage and opens up to the living room. The current seller is the first owner of this home and they have taken great care of it. The home is move in ready, just bring your furniture. You'll love the location - close to the 8 freeway and all the amenities Alpine has to offer. With a pool on site, this is perfect for summertime fun. Make an appointment today to come see this beautiful home for yourself. * * Seller can assist with buyers closing costs * *

19. 2022-08-06
    price $194,000 995-char remark

    Show marketing remark (995 chars)

    This is a beautiful, spacious home in an all ages park with a pool. This home has high ceilings, a spacious living area, cam lighting, and you'll love the convenience of the separate laundry room. The primary bedroom offers a beautiful en-suite bathroom. This unique home is tucked away in the back with no homes across, just a beautiful view of nature. You will love the open floor plan that makes this feel like home. The high ceilings and large living space are perfect for gatherings and family time. The kitchen includes plenty of storage and opens up to the living room. The current seller is the first owner of this home and they have taken great care of it. The home is move in ready, just bring your furniture. You'll love the location - close to the 8 freeway and all the amenities Alpine has to offer. With a pool on site, this is perfect for summertime fun. Make an appointment today to come see this beautiful home for yourself. * * Seller can assist with buyers closing costs * *

20. 2022-06-22
    listed $199,000 Active 995-char remark

    Show marketing remark (995 chars)

    This is a beautiful, spacious home in an all ages park with a pool. This home has high ceilings, a spacious living area, cam lighting, and you'll love the convenience of the separate laundry room. The primary bedroom offers a beautiful en-suite bathroom. This unique home is tucked away in the back with no homes across, just a beautiful view of nature. You will love the open floor plan that makes this feel like home. The high ceilings and large living space are perfect for gatherings and family time. The kitchen includes plenty of storage and opens up to the living room. The current seller is the first owner of this home and they have taken great care of it. The home is move in ready, just bring your furniture. You'll love the location - close to the 8 freeway and all the amenities Alpine has to offer. With a pool on site, this is perfect for summertime fun. Make an appointment today to come see this beautiful home for yourself. * * Seller can assist with buyers closing costs * *

ⓘ 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 10/10 Extreme
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 10 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,933
• − Mortgage interest: −$8,957
• − Property taxes: −$2,398
• − Insurance: −$800
• − Repairs & maintenance: −$2,155
• − Management: −$2,155
• − Depreciation: −$4,652
• Taxable income: $5,818
• Est. tax owed @ 24.0%: −$1,396
• After-tax cash flow: $6,621/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 · 13 photos

Good 80/100 None rehab

This move-in ready single-wide manufactured home in a park-like neighborhood offers a spacious layout with modern updates and a good condition score.

Value-add opportunities

• Both landscaping — enhances curb appeal and adds value
• Both paint exterior — fresh paint improves curb appeal and value
• Both landscaping — enhances curb appeal and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — enhances curb appeal and adds value ↑
• Both paint exterior — fresh paint improves curb appeal and value ↑
• Both landscaping — enhances curb appeal and adds value ↑

ⓘ 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: Grossmont Union High
• NCES district ID: 0616230
• Math proficiency: 31% ▼ -1.00%
• Reading proficiency: 60% ▲ 5.00%
• Median HH income: $61,801
• Composite: 40.07/100
• National rank: #3810
• State rank: #173 of 517 in CA

Livability — Alpine

• Score: 58/100
• State rank: #711
• US rank: #21327

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alpine, CA
• County: San Diego County · 3,178,799 people
• City population: 18,197
• Metro: San Diego-Chula Vista-Carlsbad, CA
• Population (ZIP): 18,197
• Household income: $114,167
• Rent vs Own: 25.2% rent · 74.8% own
• Severe rent burden: 417.0

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 (73%)
• Race & ethnicity: White 73% Hispanic / Latino 19% Two or more races 10% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Italian 5% Slovak 4% Lithuanian 3%
• Foreign-born: 9% · Canada, China, South Korea
• Languages at home: 84% English-only · Spanish 11% German/W. Germanic 2% 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: ▼ -453.14%
• Current HPI: 320.0778
• Rent YoY: ▲ 0.10%
• 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

-6.6% since first listed

7 events — show timeline

• 2026-02-08 Price Changed $185,900 CRMLS
• 2025-11-24 Listed $195,900 CRMLS
• 2022-10-10 Sold (MLS) $175,000 CRMLS
• 2022-09-10 Pending — CRMLS
• 2022-08-24 Price Changed $189,000 CRMLS
• 2022-08-06 Price Changed $194,000 CRMLS
• 2022-06-22 Listed $199,000 CRMLS