7908 Rancho Fanita Dr Spc 17 · Santee, CA 92071

$239,900

3 bd · 2.0 ba · 1,120 sqft · Manufactured public records · 91 Days on market

Built 1995 7.03 ac lot Est $248k · at est.

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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
• ARV discount +8.9/15.0
• 1% rule +8.8/10.0
• Schools +4.5/10.0
• Livability +3.2/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming 3-Bedroom Home in Prime Santee Location – Listed Under $240,000! Welcome to this beautifully maintained manufactured home offering incredible value in the heart of Santee! Located on a desirable corner section just off Mission Gorge Road, this home is perfectly situated near grocery stores, shopping, dining, and convenient freeway access—making commuting a breeze. This spacious home features 3 bedrooms, 2 full bathrooms, and over 1,100 square feet of comfortable living space. Step inside to enjoy the bright and open floor plan highlighted by beautiful vaulted ceilings that create an airy, inviting atmosphere. The home offers generous closet space throughout, ensuring p

Key facts

• Corner location
• Close to shopping
• 7.03 acre lot

Tags

• PRIME SANTEE LOCATION
• CORNER LOCATION
• AMPLE OUTDOOR STORAGE SPACE
• IN UNIT WASHER AND DRYER
• CLOSE TO SHOPPING
• CONVENIENT FREEWAY ACCESS

Property features AI

Finance

• HOA & community: Common-interest lot (community grounds)

Exterior

• Parking: Assigned parking; 2 parking spaces
• Home design: Manufactured home; Single-story; Residential property in Santee (Valley View Estates); R-1 single zoning
• Construction: Stucco construction
• Exterior features: Community pool

Interior

• Kitchen: Electric cooktop
• Bedrooms: Up to 3 bedrooms possible
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Natural gas heating
• Interior features: Electric cooktop

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $240k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/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: $218k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.2% vs local median 2.6% in Santee — 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 65/100 on livability (#361 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, crime A-; Watch: health & safety C-, amenities D, cost of living F.
• Santee (suburban): math 46% / reading 54% proficiency, ranked #130 of 517 in CA (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents flat; 197 active listings in the ZIP; 9 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).
• This rent runs 35% of the median local income ($114k/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.
• At projected returns (-3.0% appreciation + 0.8% rent growth), your $67k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($218k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 6→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $218,309 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% 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. 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.
5. 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.
6. 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: 1.38% ✓
• Cap rate: 12.20%
• Cash-on-cash: 21.10%
• DSCR: 1.94
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $247,520
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7908 Rancho Fanita Dr #63	0.00mi	3/2.0	1,238 (+10%)	10mo	$234,000	$189	74
8301 Mission Gorge Rd #170	0.34mi	2/2.0 (-1)	1,120 (0%)	10mo	$265,000	$237	71
8301 Mission Gorge Rd #181	0.34mi	2/2.0 (-1)	1,100 (-2%)	11mo	$210,000	$191	67
8301 Mission Gorge Rd #282	0.34mi	2/2.0 (-1)	1,248 (+11%)	5mo	$310,000	$248	56
8301 Mission Gorge Rd #86	0.34mi	2/2.0 (-1)	1,272 (+14%)	2mo	$223,000	$175	55
7467 Mission Gorge #75	0.51mi	2/2.0 (-1)	1,152 (+3%)	16mo	$262,000	$227	52
8301 Mission Gorge Rd #159	0.41mi	2/2.0 (-1)	1,220 (+9%)	13mo	$180,000	$148	50
8301 Mission Gorge Rpad Rd #152	0.34mi	2/2.0 (-1)	1,248 (+11%)	13mo	$240,000	$192	49
8545 Mission Gorge Rd Spc 141	0.75mi	2/2.0 (-1)	1,040 (-7%)	7mo	$230,000	$221	42
7467 Mission Gorge Rd #302	0.51mi	2/2.0 (-1)	960 (-14%)	12mo	$405,000	$422	37
8301 Mission Gorge Rd #115	0.46mi	2/2.0 (-1)	960 (-14%)	16mo	$175,000	$182	37
7467 Mission Gorge Rd Spc 9	0.51mi	2/2.0 (-1)	960 (-14%)	16mo	$250,500	$261	34

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 · 0.85% rent growth · sell at horizon

5-year hold

• IRR: 11.3%
• Equity multiple: 1.44×
• Total profit: $29,265
• Equity at exit: $35,770

10-year hold

• IRR: 18.6%
• Equity multiple: 2.41×
• Total profit: $94,444
• Equity at exit: $20,742

Cash invested: $67,172 (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 92071

• Rents YoY: 0.8%
• Active inventory: 197
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $3,312 high
• Mortgage (P&I): −$1,258
• Tax from tax record: −$77 /mo · $929/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$696
• Net cashflow: $1,181

Break-even live

Break-even rent $1,817

Max offer price $239,900

Occupancy floor 59%

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7962 Arly Ct #12 Santee, CA	2.0	2.0	945	$2,800	$2.96	2d	1	0.18mi
69 Via Sovana Santee, CA	3.0	3.0	1342	$3,600	$2.68	2d	1	0.32mi
177 Via Montisi Santee, CA	2.0	2.5	1239	$3,450	$2.78	2d	1	0.33mi
8617 Bushy Hill Dr Santee, CA	2.0–3.0	2.0–3.0	1299	$2,900	$2.23	2d	1	0.66mi
8605 Arminda Cir Santee, CA	2.0	2.0	958	$2,650	$2.77	2d	1	0.81mi
8609 Arminda Cir #13 Santee, CA	2.0	2.0	984	$3,000	$3.05	2d	1	0.83mi
8434 Kreiner Way Santee, CA	3.0	2.0	1305	$4,213	$3.23	22d	1	0.89mi
8009 Calle Fanita Santee, CA	2.0	1.5	1024	$2,995	$2.92	2d	1	1.44mi
8745 Redwood Dr Santee, CA	2.0–3.0	1.5–2.5	1264	$3,100	$2.45	2d	1	1.44mi

Listing history 2 events

1. 2026-02-25
   price $239,900
2. 2026-02-24
   listed $219,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $929 · $77/mo
• Projected year-2 tax: $1,823 · $152/mo
• Expected delta: +$894/yr (+$75/mo · 96.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 6 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,749
• − Mortgage interest: −$13,438
• − Property taxes: −$929
• − Insurance: −$1,200
• − Repairs & maintenance: −$3,180
• − Management: −$3,180
• − Depreciation: −$6,979
• Taxable income: $10,843
• Est. tax owed @ 24.0%: −$2,602
• After-tax cash flow: $11,574/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: Santee
• NCES district ID: 0635880
• Math proficiency: 46% ▼ -3.00%
• Reading proficiency: 54% ▼ -2.00%
• Median HH income: $73,452
• Composite: 45.0/100
• National rank: #2698
• State rank: #130 of 517 in CA

Livability — Santee

• Score: 65/100
• State rank: #361
• US rank: #12272

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Santee, CA
• County: San Diego County · 3,178,799 people
• City population: 59,590
• Metro: San Diego-Chula Vista-Carlsbad, CA
• Population (ZIP): 59,590
• Household income: $113,618
• Rent vs Own: 27.6% rent · 72.4% own
• Severe rent burden: 1719.0

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: Majority White (63%)
• Race & ethnicity: White 63% Hispanic / Latino 22% Two or more races 16% Asian 5% Black 2%
• Hispanic origin (detail): Mexican 18%
• Common ancestry: Slovak 3% Italian 3% Lithuanian 2%
• Foreign-born: 13% · Canada, Vietnam, China
• Languages at home: 81% English-only · Spanish 8% Arabic 3% 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: ▼ -607.00%
• Current HPI: 393.1781
• Rent YoY: ▲ 0.85%
• 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

+9.1% since first listed

2 events — show timeline

• 2026-02-25 Price Changed $239,900 SDMLS
• 2026-02-24 Listed $219,900 SDMLS

Property tax history

+2.7%/yr

Latest (2013): $929 · +3.6% YoY. Source: county tax records.