275 S Worthington St Spc 112 · La Presa, CA 91977

$249,500

2 bd · 2.0 ba · 1,152 sqft · Manufactured · 279 Days on market

Built 1978 30 ac lot

---

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 +23.9/30.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Livability +3.0/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome Home to Bonita Hills Estates, a well maintained Senior Community. This property sits high on the hill with amazing breezes and views to enjoy on your open patio. The bright and open floor plan boasts a skylight in the kitchen and plenty of counter space to meet all your entertainment needs. Guest parking is virtually at your front door and no neighbors behind you. Bring your imagination to update and make this your own; new roof in 2017, updated dual pane windows, update A/C in 2017, property was professionally leveled in 2021. This home is ready for you! Space rent is $1375.

Key facts

• 8 years old roof
• Brand new kitchen
• Newer water heater

Tags

• NEW LAMINATE FLOORING
• BRAND NEW KITCHEN
• REMODELED MASTER BATH
• UPDATED DUAL PANE WINDOWS
• NEWER WATER HEATER
• 8 YEARS OLD ROOF

Property features AI

Finance

• Other: Subdivision: BONITA; Zoning: R-1:SINGLE
• HOA & community: Community pool and clubhouse; Barbecue area; RV parking; Spa / hot tub; Senior community (Bonita Hills Estates)

Exterior

• Parking: Assigned parking; Attached garage (2 total parking spaces)
• Utilities: Public water; Public sewer; Electricity available and connected; Natural gas available and connected; Cable available; Water connected; Sewer connected
• Home design: Single-story mobile home; Residential property; No common walls above or below
• Construction: Aluminum siding; Shingle roof; Built as a single-story structure
• Exterior features: Covered porch with awning(s); Partial fencing; Shed(s); In-ground community pool; Community spa / hot tub

Interior

• Kitchen: Gas oven; Gas cooktop
• Bedrooms: 2 possible bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Baseboard heating; Forced air heating; Natural gas heating
• Interior features: Gas oven; Gas cooktop; Gas water heater; Has view
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $250k.

Deal economics

• At list price, monthly cash flow is $483 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $220k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 3.0% in La Presa — 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 60/100 on livability (#571 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, employment B, housing B; Watch: schools D+, health & safety D, crime 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.
• Market conditions: Rents flat; 158 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals leasing fast (median 8d 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 34% of the median local income ($100k/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 279 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $36k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $185k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 5→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $219,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 279 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — 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 F 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: 1.12% ✓
• Cap rate: 8.62%
• Cash-on-cash: 8.30%
• DSCR: 1.37
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.88% rent growth · sell at horizon

5-year hold

• IRR: -6.1%
• Equity multiple: 0.78×
• Total profit: $-15,437
• Equity at exit: $37,201

10-year hold

• IRR: 0.8%
• Equity multiple: 1.05×
• Total profit: $3,417
• Equity at exit: $21,572

Cash invested: $69,860 (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 91977

• Rents YoY: 0.9%
• Active inventory: 158
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,794 high
• Mortgage (P&I): −$1,308
• Tax est. 1.5%: −$312 /mo · $3,742/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$587
• Net cashflow: $483

Break-even live

Break-even rent $2,183

Max offer price $249,500

Occupancy floor 78%

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: $62,375
• Closing costs: $7,485
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8119 Paradise Valley Ct Spring Valley, CA	3.0	2.0	975	$3,195	$3.28	4d	1	0.40mi
8475 Avenida Angulia #12 Spring Valley, CA	2.0	2.0	862	$2,600	$3.02	3d	1	0.42mi
487 S Meadowbrook Dr San Diego, CA	1.0–2.0	1.0	685	$2,275	$3.32	3d	4	0.56mi
425 S Meadowbrook Dr #133 San Diego, CA	2.0	2.0	1228	$3,000	$2.44	17d	1	0.63mi
8513 Paradise Valley Rd Spring Valley, CA	1.0–3.0	1.0–2.0	819	$2,430	$2.97	1d	8	0.67mi
5155 Cedarwood Rd Bonita, CA	2.0	2.0	1024	$2,583	$2.52	1d	4	0.90mi
7291 Gatewood Ln Unit A San Diego, CA	3.0	2.0	1470	$3,750	$2.55	24d	1	1.02mi
7853 Gribble St San Diego, CA	3.0	2.0	1247	$4,100	$3.29	18d	1	1.03mi
567 Encinitas Ave San Diego, CA	2.0	1.0	816	$2,800	$3.43	24d	1	1.32mi
2165 Honey Dr San Diego, CA	1.0–2.0	1.0	800	$2,225	$2.78	5d	1	1.34mi
2147 Honey Dr San Diego, CA	1.0–2.0	1.0	800	$4,150	$5.19	13d	1	1.36mi
6935 Paradise Valley Rd San Diego, CA	1.0–2.0	1.0–2.0	752	$2,395	$3.18	8d	3	1.41mi
7055 Appian Dr Unit B San Diego, CA	3.0	2.0	1224	$2,999	$2.45	8d	1	1.42mi
6909 Alcona St San Diego, CA	1.0–2.0	1.0	800	$2,225	$2.78	15d	1	1.43mi
6932 Alcona St San Diego, CA	1.0–2.0	1.0	800	$4,150	$5.19	13d	1	1.46mi
8926 Delrose Ave Unit 8914-24 Spring Valley, CA	2.0	1.5	739	$1,895	$2.56	1d	1	1.46mi
8926 Delrose Ave Spring Valley, CA	2.0	1.5	739	$1,895	$2.56	1d	1	1.46mi

Listing history 20 events

1. 2026-06-18
   days on market $249,500 Active 279 DOM
2. 2026-06-17
   days on market $249,500 Active 278 DOM
3. 2026-06-16
   days on market $249,500 Active 277 DOM
4. 2026-06-15
   days on market $249,500 Active 276 DOM
5. 2026-06-13
   days on market $249,500 Active 274 DOM
6. 2026-06-09
   days on market $249,500 Active 270 DOM
7. 2026-06-08
   days on market $249,500 Active 269 DOM
8. 2026-06-07
   days on market $249,500 Active 268 DOM
9. 2026-06-04
   pricedays on market $249,500 Active 265 DOM
10. 2026-06-03
    days on market $289,000 Active 264 DOM
11. 2026-06-01
    days on market $289,000 Active 262 DOM
12. 2026-05-31
    days on market $289,000 Active 261 DOM
13. 2026-01-07
    price $289,000
14. 2025-10-08
    price $299,000
15. 2025-09-12
    listed $285,000 Active
16. 2022-07-29
    soldstatus $185,000 Sold 592-char remark

    Show marketing remark (592 chars)

    Welcome Home to Bonita Hills Estates, a well maintained Senior Community. This property sits high on the hill with amazing breezes and views to enjoy on your open patio. The bright and open floor plan boasts a skylight in the kitchen and plenty of counter space to meet all your entertainment needs. Guest parking is virtually at your front door and no neighbors behind you. Bring your imagination to update and make this your own; new roof in 2017, updated dual pane windows, update A/C in 2017, property was professionally leveled in 2021. This home is ready for you! Space rent is $1375.

17. 2022-07-22
    status Pending 592-char remark

    Show marketing remark (592 chars)

    Welcome Home to Bonita Hills Estates, a well maintained Senior Community. This property sits high on the hill with amazing breezes and views to enjoy on your open patio. The bright and open floor plan boasts a skylight in the kitchen and plenty of counter space to meet all your entertainment needs. Guest parking is virtually at your front door and no neighbors behind you. Bring your imagination to update and make this your own; new roof in 2017, updated dual pane windows, update A/C in 2017, property was professionally leveled in 2021. This home is ready for you! Space rent is $1375.

18. 2022-07-19
    status Active 592-char remark

    Show marketing remark (592 chars)

    Welcome Home to Bonita Hills Estates, a well maintained Senior Community. This property sits high on the hill with amazing breezes and views to enjoy on your open patio. The bright and open floor plan boasts a skylight in the kitchen and plenty of counter space to meet all your entertainment needs. Guest parking is virtually at your front door and no neighbors behind you. Bring your imagination to update and make this your own; new roof in 2017, updated dual pane windows, update A/C in 2017, property was professionally leveled in 2021. This home is ready for you! Space rent is $1375.

19. 2022-07-18
    status Pending 592-char remark

    Show marketing remark (592 chars)

    Welcome Home to Bonita Hills Estates, a well maintained Senior Community. This property sits high on the hill with amazing breezes and views to enjoy on your open patio. The bright and open floor plan boasts a skylight in the kitchen and plenty of counter space to meet all your entertainment needs. Guest parking is virtually at your front door and no neighbors behind you. Bring your imagination to update and make this your own; new roof in 2017, updated dual pane windows, update A/C in 2017, property was professionally leveled in 2021. This home is ready for you! Space rent is $1375.

20. 2022-07-11
    listed $179,900 Active 592-char remark

    Show marketing remark (592 chars)

    Welcome Home to Bonita Hills Estates, a well maintained Senior Community. This property sits high on the hill with amazing breezes and views to enjoy on your open patio. The bright and open floor plan boasts a skylight in the kitchen and plenty of counter space to meet all your entertainment needs. Guest parking is virtually at your front door and no neighbors behind you. Bring your imagination to update and make this your own; new roof in 2017, updated dual pane windows, update A/C in 2017, property was professionally leveled in 2021. This home is ready for you! Space rent is $1375.

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 5 d/yr ≥89°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,534
• − Mortgage interest: −$13,976
• − Property taxes: −$3,742
• − Insurance: −$1,248
• − Repairs & maintenance: −$2,683
• − Management: −$2,683
• − Depreciation: −$7,258
• Taxable income: $1,944
• Est. tax owed @ 24.0%: −$467
• After-tax cash flow: $5,334/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 — La Presa

• Score: 60/100
• State rank: #571
• US rank: #18714

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: La Presa, CA
• County: San Diego County · 3,178,799 people
• City population: 62,957
• Metro: San Diego-Chula Vista-Carlsbad, CA
• Population (ZIP): 61,064
• Household income: $99,657
• Rent vs Own: 36.2% rent · 63.8% own
• Severe rent burden: 2007.0

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 46% White 29% Two or more races 19% Black 12% Asian 7% Native American 1%
• Hispanic origin (detail): Mexican 43%
• Common ancestry: Portuguese 2% Lithuanian 1% Italian 1%
• Foreign-born: 19% · Canada, China, Vietnam
• Languages at home: 59% English-only · Spanish 32% Tagalog/Filipino 3% Arabic 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: ▼ -697.99%
• Current HPI: 381.66
• Rent YoY: ▲ 0.88%
• 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

+60.6% since first listed

8 events — show timeline

• 2026-01-07 Price Changed $289,000 SDMLS
• 2025-10-08 Price Changed $299,000 SDMLS
• 2025-09-12 Listed $285,000 SDMLS
• 2022-07-29 Sold (MLS) $185,000 SDMLS
• 2022-07-22 Pending — SDMLS
• 2022-07-19 Relisted — SDMLS
• 2022-07-18 Pending — SDMLS
• 2022-07-11 Listed $179,900 SDMLS