Manufactured Home in 55+
For Sale
$259,000
188-410 S 1st St, El Cajon, CA 92021
Manufactured home on Space #188 within a maintained senior mobile home park in El Cajon.
Property Size1,414 SF
Price / SF$183.17
Days on Market188
Property Features for 188-410 S 1st St
General Information
Standard status
Active
Size
1,414 SF
Property subtype
Manufactured In Park
Listing Agency:
Monarch Home Sales
(714) 402-0740
Listed By:
Vernon Spencer
(800) 319-1879
Source:
Exprealty
Added: Feb 26
Changed: Aug 31
Last Checked: Sep 1 at 10:19PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Monarch Home Sales
Investment Insights
Based on property information with market context.
This for-sale manufactured home is located within a welcoming senior community in El Cajon, offered in a maintained mobile home park setting. The home is described as having spacious interiors with abundant natural light, designed for comfortable, community-based living. The residence is assigned to Space #188 and includes a stated size of 1,414 square feet.
The property is identified as 410 S 1st Street, Space #188, El Cajon, CA 92019, and is positioned in a 55+ community environment intended for active seniors.
The property is identified as 410 S 1st Street, Space #188, El Cajon, CA 92019, and is positioned in a 55+ community environment intended for active seniors.
Key Highlights
- Manufactured home on Space #188 in a maintained senior mobile home park in El Cajon, CA 92019
- Located in a 55+ community within the park at 410 South 1st Street
- Peaceful mobile home park setting with a senior‑focused community atmosphere
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$13,139
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.07%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$262,780
$262.8K
Cap Rate 7%
$187,700
$187.7K
Cap Rate 9%
$145,989
$146.0K
Market Conditions
NOI Build-Up for 1,414 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$25.5K $18.00/SF
− Vacancy
−$1.6K −$1.11/SF
EGI
$23.9K $16.89/SF
− OpEx
−$10.8K −$7.60/SF
NOI
$13.1K $9.29/SF
Area
El Cajon, CA
Vacancy
6.14%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$262,780
Cap Rate 7%
$187,700
Cap Rate 9%
$145,989
Alternative Uses
Best Use
Apartment 5plus
$187.7K
$164.2K – $219.0K
NOI $13,139 @ 7.0% cap · market cap 5.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$351.3K
$307.4K – $409.9K
NOI $24,592 @ 7.0% cap · market cap 9.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,250
Businesses Nearby
Explore this area
Business Placement
Demographics for 92021, CA
70,584
Population
23,360
Households
3
Avg Household Size
37
Median Age
22%
College-Educated
86%
High-School Grad
28.0 sq mi
ZIP Area
2,521
Density / Sq Mi
$69,979
Median Household Income
$37,739
Median Earnings
$1,818
Median Rent
$572,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mobile home & RV park - Manufactured home on Space #188 within a maintained senior mobile home park in El Cajon.
Where is this mobile home & rv park located?
The property is located at 188-410 S 1st St El Cajon, CA.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: Manufactured home on Space #188 in a maintained senior mobile home park in El Cajon, CA 92019; Located in a 55+ community within the park at 410 South 1st Street; Peaceful mobile home park setting with a senior‑focused community atmosphere
