1120 Pepper Dr Spc 139 · Bostonia, CA 92021

$265,000

2 bd · 2.0 ba · 1,368 sqft · Manufactured · 154 Days on market

Built 1971

---

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 +19.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• 1% rule +5.2/10.0
• Schools +4.0/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

SPACIOUS OPEN FLOOR PLAN!! NEW PAINT & CARPETS, ACROSS THE STREET FROM REC AREA & POOL. HANDICAP ACCESSABLE. NO STAIRS. NO RAISED FOUNDATION. UNIT IS FLAT TO THE GROUND. BEST BUY IN PEPPERWOOD, SELLER MOTIVATED. 2 BED 2 BA FAMILY ROOM LIVING ROOM. 2 CAR CARPORT. CENTRAL LOCATION. COUNTRY FEEL, BEAUTIFUL GROUNDS NICELY KEPT

Key facts

• Tandem parking
• Clubhouse
• Gated yard space

Tags

• OPEN KITCHEN
• GATED YARD SPACE
• TANDEM PARKING
• CLUBHOUSE
• HEATED POOL
• MATURE LANDSCAPING

Property features AI

Finance

• Financial info: Monthly land lease: $1,487
• HOA & community: Senior community; Manager approval required; Pets allowed with size, breed and number restrictions; Land lease amount applies

Exterior

• Parking: 2 parking spaces; 2 carport spaces; Located in the Pepperwood park
• Utilities: Land lease applies
• Home design: Manufactured/mobile home (Model: CONTINENTAL); Single story; Entry level: 1
• Construction: Mobile home remains on site; Mobile dimensions: approximately 24 ft wide by 57 ft long
• Exterior features: Back yard; Community pool; Curbs in neighborhood

Interior

• Kitchen: Kitchen (appliances not listed)
• Bedrooms: Primary bedroom on the main floor; Additional main floor bedroom
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central cooling
• Interior features: One-level home; Main floor primary bedroom; Has a view
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $265k.

Deal economics

• At list price, monthly cash flow is $299 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $265k).
• Recommended offer: $233k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 6.0% in Bostonia — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 65/100 on livability (#383 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, housing B+; Watch: crime F, amenities F, cost of living 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: Santana High (math 17% / reading 72%, grade F, #434 of 1,170 statewide, top 39%, 1,736 students, 46% FRL) — zoned schools average 46% FRL vs 17% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.8%/yr); 244 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); 11,759 units permitted in San Diego County in 2024 (7,244 in 5+ unit buildings).
• This rent runs 44% of the median local income ($74k/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 $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.

Negotiation context

• It's been on market 154 days — a 12% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y 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 $50k; list at $265k implies a 431% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 3→9/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $233,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 154 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 1971 — 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: 1.02% ✓
• Cap rate: 7.65%
• Cash-on-cash: 4.84%
• DSCR: 1.22
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $169,632
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1120 Pepper Dr #78	0.09mi	2/2.0	1,368 (0%)	10mo	$300,000	$219	88
1120 Pepper Dr #17	0.00mi	2/2.0	1,440 (+5%)	4mo	$125,000	$87	88
1120 Pepper Dr #79	0.00mi	3/2.0 (+1)	1,344 (-2%)	6mo	$310,000	$231	87
1351 Pepper Dr Spc 41	0.57mi	2/2.0	1,400 (+2%)	8mo	$235,000	$168	62
1315 Pepper Dr #67	0.51mi	3/2.0 (+1)	1,440 (+5%)	3mo	$145,000	$101	60
8128 Royal Park Ln	0.70mi	2/2.0	1,368 (0%)	12mo	$150,000	$110	58
450 E Bradley Ave #89	0.74mi	2/2.0	1,440 (+5%)	0mo	$85,000	$59	56
450 E Bradley Ave #144	0.75mi	2/2.0	1,280 (-6%)	3mo	$159,000	$124	52
450 E Bradley Ave #115	0.75mi	2/2.0	1,440 (+5%)	7mo	$169,000	$117	51
1315 Pepper Dr #72	0.51mi	2/2.0	1,220 (-11%)	10mo	$194,000	$159	49
1351 Pepper Dr #26	0.57mi	2/2.0	1,200 (-12%)	10mo	$160,000	$133	45
450 E Bradley Ave #127	0.72mi	3/2.0 (+1)	1,246 (-9%)	2mo	$106,000	$85	44

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -12.2%
• Equity multiple: 0.57×
• Total profit: $-31,756
• Equity at exit: $39,512

10-year hold

• IRR: -8.4%
• Equity multiple: 0.55×
• Total profit: $-33,502
• Equity at exit: $22,912

Cash invested: $74,200 (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 92021

• Rents YoY: -0.8%
• Active inventory: 244
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,697 high
• Mortgage (P&I): −$1,390
• Tax est. 1.5%: −$331 /mo · $3,975/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$566
• Net cashflow: $299

Break-even live

Break-even rent $2,318

Max offer price $265,000

Occupancy floor 84%

Sensitivity live

Price	-10% $482	-5% $391	+0% $299	+5% $208	+10% $116
Rent	-10% $86	-5% $193	+0% $299	+5% $406	+10% $512
Rate	-1.0pp $433	-0.5pp $366	base $299	+0.5pp $230	+1.0pp $161

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8031 Winter Gardens Blvd El Cajon, CA	3.0	2.0	1124	$2,995	$2.66	0d	1	0.48mi
1696 Buckeye Dr El Cajon, CA	3.0	1.0	942	$2,900	$3.08	3d	1	0.49mi
1314 5 D Dr Unit 1318 El Cajon, CA	3.0	1.0	960	$2,600	$2.71	25d	1	0.66mi
1221 Oro St El Cajon, CA	2.0	1.5	1020	$2,575	$2.52	0d	1	0.70mi
8424 Pueblo Rd Unit 8424 Lakeside, CA	3.0	1.0	1000	$2,750	$2.75	2d	1	0.74mi
1219 Denver Ln Unit 1465013P El Cajon, CA	3.0	2.5	1194	$8,558	$7.17	22d	1	0.81mi
360 E Bradley Ave El Cajon, CA	3.0	2.0	1116	$2,974	$2.66	0d	4	0.85mi
1365 Broadway El Cajon, CA	3.0	2.0	1000	$3,478	$3.48	2d	1	1.12mi
816 Oro St El Cajon, CA	3.0	1.0	1235	$3,400	$2.75	3d	1	1.12mi
1171 Marline Ave Unit 1171-A El Cajon, CA	3.0	1.5	1141	$3,100	$2.72	0d	1	1.18mi
989 Peach Ave El Cajon, CA	1.0–3.0	1.0–2.0	845	$2,209	$2.61	0d	11	1.19mi
1237 Graves Ave El Cajon, CA	1.0–2.0	1.0–2.0	775	$2,565	$3.31	0d	15	1.23mi
798 McClure St Unit 14 El Cajon, CA	3.0	1.0	916	$2,295	$2.51	0d	1	1.24mi
375 Broadway El Cajon, CA	2.0	1.0	1400	$2,800	$2.00	0d	1	1.44mi
1343 Oakdale Ave El Cajon, CA	1.0–2.0	1.0–2.0	800	$2,195	$2.74	0d	1	1.44mi
1377 Oakdale Ave Unit 03 El Cajon, CA	2.0	2.0	900	$2,425	$2.69	0d	1	1.47mi

Listing history 13 events

1. 2026-06-09
   days on market $265,000 Active 154 DOM
2. 2026-06-08
   days on market $265,000 Active 153 DOM
3. 2026-06-07
   days on market $265,000 Active 152 DOM
4. 2026-06-04
   days on market $265,000 Active 149 DOM
5. 2026-06-03
   days on market $265,000 Active 148 DOM
6. 2026-06-02
   days on market $265,000 Active 147 DOM
7. 2026-06-01
   days on market $265,000 Active 146 DOM
8. 2026-05-31
   days on market $265,000 Active 145 DOM
9. 2026-01-06
   listed $265,000 Active
10. 2024-06-12
    historical
11. 2024-05-08
    listed $275,000 Active
12. 2006-09-05
    soldstatus $49,900 336-char remark

    Show marketing remark (336 chars)

    SPACIOUS OPEN FLOOR PLAN!! NEW PAINT & CARPETS, ACROSS THE STREET FROM REC AREA & POOL. HANDICAP ACCESSABLE. NO STAIRS. NO RAISED FOUNDATION. UNIT IS FLAT TO THE GROUND. BEST BUY IN PEPPERWOOD, SELLER MOTIVATED. 2 BED 2 BA FAMILY ROOM LIVING ROOM. 2 CAR CARPORT. CENTRAL LOCATION. COUNTRY FEEL, BEAUTIFUL GROUNDS NICELY KEPT

13. 2005-10-21
    listed $49,900 336-char remark

    Show marketing remark (336 chars)

    SPACIOUS OPEN FLOOR PLAN!! NEW PAINT & CARPETS, ACROSS THE STREET FROM REC AREA & POOL. HANDICAP ACCESSABLE. NO STAIRS. NO RAISED FOUNDATION. UNIT IS FLAT TO THE GROUND. BEST BUY IN PEPPERWOOD, SELLER MOTIVATED. 2 BED 2 BA FAMILY ROOM LIVING ROOM. 2 CAR CARPORT. CENTRAL LOCATION. COUNTRY FEEL, BEAUTIFUL GROUNDS NICELY KEPT

ⓘ 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 2/10 Low
• 🌡 Heat 5/10 Major 3 d/yr ≥98°F today · 9 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,361
• − Mortgage interest: −$14,844
• − Property taxes: −$3,975
• − Insurance: −$1,325
• − Repairs & maintenance: −$2,589
• − Management: −$2,589
• − Depreciation: −$7,709
• Taxable loss: −$670
• Est. tax savings @ 24.0%: +$161
• After-tax cash flow: $3,750/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: 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 — Bostonia

• Score: 65/100
• State rank: #383
• US rank: #13065

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bostonia, CA
• County: San Diego County · 3,178,799 people
• Metro: San Diego-Chula Vista-Carlsbad, CA
• Population (ZIP): 70,501
• Household income: $74,013
• Rent vs Own: 46.2% rent · 53.8% own
• Severe rent burden: 4178.0

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 0.62)
• Race & ethnicity: White 54% Hispanic / Latino 28% Two or more races 14% Black 6% Asian 5% Native American 2%
• Hispanic origin (detail): Mexican 24%
• Common ancestry: Arab 6% Italian 2% Lithuanian 2%
• Foreign-born: 22% · Canada
• Languages at home: 65% English-only · Spanish 18% Arabic 7% Other Indo-European 3%

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: ▼ -654.88%
• Current HPI: 335.0617
• Rent YoY: ▼ -0.83%
• 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

+431.1% since first listed

5 events — show timeline

• 2026-01-06 Listed $265,000 CRMLS
• 2024-06-12 Listing Removed — CRMLS
• 2024-05-08 Listed $275,000 CRMLS
• 2006-09-05 Sold (MLS) $49,900 CRMLS
• 2005-10-21 Listed $49,900 CRMLS