402 63rd St #244 · San Diego, CA 92114

$315,000

3 bd · 2.0 ba · 1,260 sqft · Manufactured · 15 Days on market

Built 2021 Good condition Est $275k · 15% over

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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 +25.5/30.0
• DSCR +8.4/10.0
• 1% rule +6.7/10.0
• Rent growth +4.7/5.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• Schools +2.2/10.0
• ARV discount +0.9/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this beautifully maintained 2021 manufactured home offering modern comfort, style, and convenience in a prime San Diego location. Just a short drive to the vibrant Gaslamp Quarter and San Diego’s stunning beaches, this home is perfect for anyone looking to enjoy the best of city living with a cozy community feel. Step inside to discover gorgeous LVP flooring throughout and a bright, open layout designed for easy living. The kitchen is a standout feature with eye-catching backsplash details, ample cabinetry, a spacious walk-in pantry, and a charming breakfast bar that’s perfect for your morning coffee or casual dining. Enjoy the convenience of in-unit laundry and thoug

Key facts

• Gated community
• Two sparkling pools
• Covered carport

Tags

• LVP FLOORING
• WALK-IN PANTRY
• COVERED CARPORT
• GATED COMMUNITY
• TWO SPARKLING POOLS
• COMMUNITY LAUNDRY FACILITIES

Property features AI

Finance

• Other: Turnkey condition; Located in a suburban community
• Financial info: Monthly land lease of $1,212.48 (park); Rent includes: none
• HOA & community: Located in Summit Ridge Resort (park-managed community); Manager approval required

Exterior

• Parking: Attached carport with 2 spaces
• Utilities: District/public water; Public sewer; Natural gas connected; Electricity connected (standard); Cable connected; Telephone on property
• Home design: Mobile home (Model: Canyon Lake); Double body type; One story; Entry level 1; Mobile home remains on site
• Construction: Permanent foundation
• Exterior features: Chain-link fencing; Community pool; Wood skirt; Near public transit; Close to clubhouse

Interior

• Kitchen: Gas cooktop; Gas range; Formica counters; Walk-in pantry
• Bedrooms: All bedrooms on main level
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms; Shower-in-tub configuration; Formica counters in bathrooms
• Heating & cooling: Central furnace heating; Central air conditioning
• Interior features: Ceiling fan; Open floor plan; Pantry; Front door entry; One-level home
• Laundry & utility: Inside laundry in a dedicated room/area

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $315k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $734 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $315k).
• Recommended offer: $310k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.1% 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.
• Market conditions: Rents rising fast (+8.6%/yr); 104 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 11,759 units permitted in San Diego County in 2024 (7,244 in 5+ unit buildings).
• At $3,685/mo this rent would consume 45% of the median local household income ($98k/yr) (locally 1586% 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 $9k 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 + 8.0% rent growth), your $88k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($310k) is reasonable based on typical stale-listing flexibility.

Recommended offer $310,275 (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. 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?
3. 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?
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: 1.17% ✓
• Cap rate: 9.09%
• Cash-on-cash: 9.99%
• DSCR: 1.44
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $274,680
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
402 63Rd St Spc 267	0.00mi	3/2.0	1,214 (-4%)	10mo	$265,000	$218	85

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 4.2%
• Equity multiple: 1.17×
• Total profit: $15,227
• Equity at exit: $46,968

10-year hold

• IRR: 17.9%
• Equity multiple: 2.84×
• Total profit: $162,300
• Equity at exit: $27,235

Cash invested: $88,200 (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 92114

• Rents YoY: 8.6%
• Active inventory: 104
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $3,685 high
• Mortgage (P&I): −$1,652
• Tax est. 1.5%: −$394 /mo · $4,725/yr
• Insurance: −$131
• HOA: −$0
• Vacancy / Maint / Mgmt: −$774
• Net cashflow: $734

Break-even live

Break-even rent $2,756

Max offer price $315,000

Occupancy floor 75%

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: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
607 Goetschl St San Diego, CA	3.0	1.5	1500	$3,500	$2.33	24d	1	0.57mi
5580 Dream St San Diego, CA	4.0	2.0	1219	$3,995	$3.28	8d	1	0.69mi
5468 Imperial Ave San Diego, CA	2.0	1.0	825	$2,120	$2.57	17d	2	0.77mi
5415 Imperial Ave Unit 4 San Diego, CA	3.0	1.0	895	$2,550	$2.85	2d	1	0.83mi
5432 Churchward St San Diego, CA	3.0	2.0	1288	$3,850	$2.99	18d	1	0.85mi
5432 Churchward St Unit Kyra Apartments San Diego, CA	3.0	2.0	1280	$3,850	$3.01	24d	1	0.85mi
424 69th St San Diego, CA	2.0	1.0	1000	$2,800	$2.80	24d	1	0.85mi
5469 Roswell St San Diego, CA	2.0	2.0	1055	$2,230	$2.11	22d	1	0.95mi
5520 Olvera Ave San Diego, CA	3.0	2.0	1300	$3,900	$3.00	3d	1	0.97mi
213 Los Reyes Dr San Diego, CA	4.0	3.0	1854	$7,500	$4.05	3d	1	1.00mi
5292 Santa Margarita St San Diego, CA	3.0	2.0	1300	$3,695	$2.84	24d	1	1.01mi
5288 Santa Margarita St San Diego, CA	3.0	1.5	1167	$3,850	$3.30	24d	1	1.02mi
5280 Groveland Dr San Diego, CA	3.0	1.5	900	$3,500	$3.89	24d	1	1.02mi
5280 Groveland Dr Unit 4 San Diego, CA	3.0	1.5	900	$3,500	$3.89	22d	1	1.02mi
5256 Groveland Dr Unit 5258 House San Diego, CA	3.0	2.0	1108	$3,100	$2.80	24d	1	1.04mi
5256 Groveland Dr Unit 5260-1 San Diego, CA	3.0	2.0	1200	$3,095	$2.58	24d	1	1.04mi
7060 Tuther Way San Diego, CA	3.0	2.0	1798	$3,900	$2.17	5d	1	1.07mi
6434 Bullock Dr Unit 1465019P San Diego, CA	4.0	3.0	1625	$7,491	$4.61	2d	1	1.09mi
5448 Encina Dr Unit 5448 San Diego, CA	3.0	2.0	1200	$3,295	$2.75	14d	1	1.10mi
5882 Mariposa Pl San Diego, CA	4.0	2.0	1720	$4,200	$2.44	24d	1	1.11mi
7051 Benson Ave San Diego, CA	3.0	2.5	1378	$4,000	$2.90	20d	1	1.12mi
7051 Benson Ave San Diego, CA	3.0	3.0	1378	$4,000	$2.90	5d	1	1.12mi
5835 Division St San Diego, CA	3.0	2.0	1457	$4,195	$2.88	17d	1	1.13mi
172 Buccaneer Dr San Diego, CA	3.0	2.0	1458	$3,800	$2.61	5d	1	1.20mi
172 Sumatra Ln San Diego, CA	3.0	2.0	1320	$3,995	$3.03	5d	1	1.22mi
823 Gwen St San Diego, CA	4.0	2.5	1800	$4,500	$2.50	24d	1	1.24mi
851 Euclid Ave San Diego, CA	3.0	2.0	1120	$3,695	$3.30	3d	1	1.28mi
127 50th St San Diego, CA	1.0–3.0	1.0–2.0	899	$2,995	$3.33	5d	3	1.33mi
1568 Primera St Unit B Lemon Grove, CA	3.0	1.0	1200	$2,800	$2.33	2d	1	1.33mi
5128 La Paz Dr San Diego, CA	3.0	1.5	945	$3,875	$4.10	24d	1	1.34mi
215 Willie James Jones Ave Unit 103 San Diego, CA	4.0	2.0	1200	$1,250	$1.04	5d	1	1.40mi
215 Willie James Jones Ave Unit 103 San Diego, CA	4.0	2.0	1200	$1,225	$1.02	8d	1	1.40mi
4969 Imperial Ave San Diego, CA	3.0	2.5	1500	$3,600	$2.40	24d	1	1.41mi
4965 Imperial Ave Unit 1-9 San Diego, CA	3.0	2.5	1531	$3,650	$2.38	2d	1	1.42mi
4965 Imperial Ave San Diego, CA	3.0	2.5	1500	$3,600	$2.40	24d	1	1.42mi
203 S Willie James Jones Ave Unit 209 San Diego, CA	2.0	1.5	957	$2,695	$2.82	24d	1	1.44mi

Listing history 1 events

1. 2026-05-11
   listed $315,000 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 1/10 Low
• 🌡 Heat 4/10 Moderate 6 d/yr ≥89°F today · 17 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: $44,215
• − Mortgage interest: −$17,645
• − Property taxes: −$4,725
• − Insurance: −$1,575
• − Repairs & maintenance: −$3,537
• − Management: −$3,537
• − Depreciation: −$9,164
• Taxable income: $4,032
• Est. tax owed @ 24.0%: −$968
• After-tax cash flow: $7,839/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 · 12 photos

Good 80/100 Cosmetic rehab

This 2021 manufactured home is in good condition with modern updates and a prime location. It's move-in ready with a good ROI potential.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Clean gutters — Improves drainage and overall appearance

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Clean gutters — Improves drainage and overall appearance ↑

ⓘ 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: 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): 65,745
• Household income: $97,794
• Rent vs Own: 30.2% rent · 69.8% own
• Severe rent burden: 1586.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: Hispanic / Latino 44% Asian 23% Two or more races 17% Black 16% White 10% Pacific Islander 2%
• Hispanic origin (detail): Mexican 39% Puerto Rican 1%
• Foreign-born: 30% · Canada, Vietnam
• Languages at home: 47% English-only · Spanish 33% Tagalog/Filipino 12% Other Asian/Pacific 4%

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: ▼ -605.73%
• Current HPI: 467.1379
• Rent YoY: ▲ 8.64%
• 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

1 event — show timeline

• 2026-05-11 Listed $315,000 CRMLS