2003 Bayview Heights Dr #181 · San Diego, CA 92105

$250,000

4 bd · 2.0 ba · 1,344 sqft · Manufactured · 4 Days on market

Built 1970 43 ac lot Est $298k · 16% 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 +14.8/15.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Quiet & Well Maintained Family Park. Lots of amenities including a beautiful big club house, sparkling swimming pool & spa, laundry, library, billiards, park area w/ picnic tables & more. The mobile home has it's own laundry closet, room for full size washer & dryer. New paint & carpet throughout. Spacious floor plan has 2 large rooms which could easily be made into 2 additional bedrooms making it 4 bedrooms. This open floor plan has a wide hall and would also help with a handicap conversion. Neighborhoods: East San Diego Complex Features: , ,, ,, Equipment: Range/Oven, Shed(s) Other Fees: 0 Sewer: Sewer Connected Topography: LL

Key facts

• Relaxing spa
• Clubhouse
• 42.88 acre lot

Tags

• RELAXING SPA
• CLUBHOUSE
• COMMUNITY LAUNDRY FACILITIES

Property features AI

Finance

• Other: Lot described as 0-1 unit/acre; Living area and lot size sourced from assessor
• Financial info: Land lease amount: $1,250 (buyer to verify)
• HOA & community: Community pool and spa; Park within the community; Manager approval required for park residency; Pets allowed with size limits, breed restrictions; dogs and cats permitted; Located in a land-lease community (Bayview Heights)

Exterior

• Parking: 2 total parking spaces; 2 carport spaces
• Utilities: Public sewer
• Home design: Single-story; Multi/split level floor plan; Mobile home remains on site
• Construction: 56 by 12 mobile home; Year built per assessor
• Exterior features: Community pool; Park and sidewalks nearby; Curbs

Interior

• Bedrooms: All bedrooms located on the main level
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central cooling
• Interior features: Side entry; Multi/split levels; All bedrooms on the main level; Has central cooling; Has view
• Laundry & utility: On-site laundry; Electric dryer hookup; Gas and electric dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $250k.

Deal economics

• At list price, monthly cash flow is $943 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Cap rate 10.8% 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.
• San Diego Unified (urban): math 19% / reading 29% proficiency, ranked #393 of 517 in CA (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Oak Park Elementary (509 students, 82% FRL); Mann Middle (715 students, 94% FRL); Lincoln High (1,407 students, 76% FRL) — zoned schools average 84% FRL vs 52% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.6%/yr); 123 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 11,759 units permitted in San Diego County in 2024 (7,244 in 5+ unit buildings).
• At $3,381/mo this rent would consume 59% of the median local household income ($69k/yr) (locally 4800% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 + 2.6% rent growth), your $70k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 12y 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 $47k; list at $250k implies a 432% gain — meaningful room to come down on a strong offer.

Recommended offer $250,000

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.35% ✓
• Cap rate: 10.82%
• Cash-on-cash: 16.16%
• DSCR: 1.72
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $298,368
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2003 Bayview Hts Dr #158	0.00mi	3/2.0 (-1)	1,344 (0%)	3mo	$257,900	$192	92
2003 Bayview Heights Dr #102	0.00mi	3/2.0 (-1)	1,368 (+2%)	2mo	$259,900	$190	90
2003 Bayview Heights Dr #108	0.00mi	3/2.0 (-1)	1,353 (+1%)	9mo	$379,500	$280	86
2003 Bayview Heights Dr #18	0.14mi	3/2.0 (-1)	1,296 (-4%)	6mo	$288,000	$222	77
2003 Bayview Heights Dr #73	0.11mi	3/2.0 (-1)	1,344 (0%)	18mo	$249,000	$185	75
2003 Bayview Hts Dr #71	0.37mi	4/2.0	1,344 (0%)	12mo	$307,700	$229	73
2003 Bayview Heights Dr Spc 210	0.14mi	3/2.0 (-1)	1,152 (-14%)	9mo	$325,000	$282	57

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 · 2.65% rent growth · sell at horizon

5-year hold

• IRR: 6.8%
• Equity multiple: 1.26×
• Total profit: $18,411
• Equity at exit: $37,276

10-year hold

• IRR: 15.8%
• Equity multiple: 2.27×
• Total profit: $88,738
• Equity at exit: $21,615

Cash invested: $70,000 (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 92105

• Rents YoY: 2.6%
• Active inventory: 123
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $3,381 high
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,750/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$710
• Net cashflow: $943

Break-even live

Break-even rent $2,187

Max offer price $250,000

Occupancy floor 67%

Sensitivity live

Price	-10% $1,116	-5% $1,029	+0% $943	+5% $857	+10% $770
Rent	-10% $676	-5% $809	+0% $943	+5% $1,076	+10% $1,210
Rate	-1.0pp $1,069	-0.5pp $1,007	base $943	+0.5pp $878	+1.0pp $812

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2655 55th St San Diego, CA	3.0	2.0	1592	$4,095	$2.57	9d	1	0.41mi
5304 Nutmeg St San Diego, CA	3.0	2.0	1346	$3,900	$2.90	26d	1	0.57mi
2987 54th St Unit 2987 San Diego, CA	3.0	2.0	900	$2,850	$3.17	9d	1	0.64mi
4935 Deaton Dr San Diego, CA	4.0	2.0	1641	$4,250	$2.59	26d	1	0.82mi
2540 Perkon Ct San Diego, CA	4.0	2.0	1850	$4,000	$2.16	26d	1	0.91mi
6410 College Grove Dr San Diego, CA	3.0	2.0	1150	$3,400	$2.96	3d	3	1.02mi
851 Euclid Ave San Diego, CA	3.0	2.0	1120	$3,695	$3.30	4d	1	1.10mi
6333 College Grove Way San Diego, CA	2.0–3.0	1.5–2.0	1024	$3,500	$3.42	0d	3	1.18mi
5920 Streamview Dr Apt 4 San Diego, CA	3.0	1.0	999	$2,500	$2.50	9d	1	1.22mi
5920 Streamview Dr Apt 1 San Diego, CA	3.0	1.0	989	$2,800	$2.83	26d	1	1.22mi
3211 Euclid Ave Unit d San Diego, CA	3.0	1.0	950	$2,468	$2.60	26d	1	1.26mi
3344 Isla Vista Dr Unit Z3344 San Diego, CA	3.0	2.0	1600	$3,300	$2.06	26d	1	1.30mi
1148 Cotton St San Diego, CA	3.0	2.0	1000	$2,995	$3.00	26d	1	1.36mi
1152 Cotton St Unit 1150 San Diego, CA	3.0	2.0	1000	$2,995	$3.00	25d	1	1.36mi
6203 Romo St Unit 1 San Diego, CA	3.0	2.0	1750	$4,600	$2.63	16d	1	1.37mi
5506 1/2 University Ave San Diego, CA	3.0	1.0	896	$2,790	$3.11	26d	1	1.39mi
5280 Groveland Dr San Diego, CA	3.0	1.5	900	$3,500	$3.89	26d	1	1.43mi
5280 Groveland Dr Unit 4 San Diego, CA	3.0	1.5	900	$3,500	$3.89	23d	1	1.43mi
5256 Groveland Dr Unit 5260-1 San Diego, CA	3.0	2.0	1200	$3,095	$2.58	26d	1	1.43mi
5256 Groveland Dr Unit 5258 House San Diego, CA	3.0	2.0	1108	$3,100	$2.80	26d	1	1.43mi
3930 60th St San Diego, CA	3.0	2.5	1300	$2,795	$2.15	16d	1	1.45mi
5415 Imperial Ave Unit 4 San Diego, CA	3.0	1.0	895	$2,550	$2.85	4d	1	1.46mi
3744 Gayle St San Diego, CA	3.0	2.0	1248	$3,995	$3.20	18d	1	1.47mi
5316 Imperial Ave San Diego, CA	3.0	2.0	1000	$2,950	$2.95	0d	1	1.48mi
3972 60th St #134 San Diego, CA	3.0	2.5	1147	$2,975	$2.59	26d	1	1.48mi

Listing history 3 events

1. 2026-06-21
   days on market $250,000 Active 4 DOM
2. 2026-06-18
   remarks 699-char remark
3. 2026-06-18
   listed $250,000 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 5 d/yr ≥89°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,567
• − Mortgage interest: −$14,004
• − Property taxes: −$3,750
• − Insurance: −$1,250
• − Repairs & maintenance: −$3,245
• − Management: −$3,245
• − Depreciation: −$7,273
• Taxable income: $7,799
• Est. tax owed @ 24.0%: −$1,872
• After-tax cash flow: $9,444/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: San Diego Unified
• NCES district ID: 0634320
• Math proficiency: 19% ▼ -29.00%
• Reading proficiency: 29% ▼ -28.00%
• Median HH income: $61,673
• Composite: 22.31/100
• National rank: #8135
• State rank: #393 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): 71,411
• Household income: $68,563
• Rent vs Own: 67.4% rent · 32.6% own
• Severe rent burden: 4800.0

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 0.69)
• Race & ethnicity: Hispanic / Latino 49% Two or more races 23% Asian 18% White 15% Black 13% Native American 2%
• Hispanic origin (detail): Mexican 45%
• Common ancestry: Ukrainian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 36% · Canada, Vietnam, China
• Languages at home: 38% English-only · Spanish 39% Vietnamese 9% Other Asian/Pacific 5%

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: ▼ -679.97%
• Current HPI: 483.3536
• Rent YoY: ▲ 2.65%
• 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

+410.2% since first listed

6 events — show timeline

• 2026-06-17 Listed $250,000 CRMLS
• 2014-09-02 Sold (MLS) $47,000 CRMLS
• 2014-09-02 Sold (MLS) $47,000 SDMLS
• 2014-08-14 Pending — SDMLS
• 2014-07-26 Listed $49,000 SDMLS
• 2014-07-26 Listed $49,000 CRMLS