Renovated Residential Income
For Sale
$399,900
397-13039 Alpine Dr, Poway, CA 92064
Manufactured home with four bedrooms, updated interiors, hillside views, and a private setting without rear neighbors.
Property Size1,512 SF
Price / SF$264.48
Days on Market116
Property Features for 397-13039 Alpine Dr
General Information
Standard status
Active
Size
1,512 SF
Property subtype
Manufactured In Park
Building Details
Year Built
2009
Listing Agency:
Pellego, Inc.
(951) 268-0550
Listed By:
Reza Zahedi
(951) 268-0550
Source:
Exprealty
Added: Apr 17
Changed: Aug 10
Last Checked: Aug 10 at 6:32AM
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 Pellego, Inc.
Investment Insights
Based on property information with market context.
This 1,512-square-foot manufactured home in Poway Royal Estates was built in 2009 and includes four bedrooms and two renovated bathrooms. Interior improvements include a remodeled kitchen with new cabinetry, quartz countertops, and brand-new appliances, plus luxury vinyl plank flooring, updated lighting, and contemporary finishes throughout. The open-concept living area supports everyday use and entertaining, while the bedroom layout provides flexibility for guests or a home office.
The residence occupies a setting with no rear neighbors and views across rolling green hills. It is located in Poway, California, within the Poway Unified School District. The property combines a larger residential floor plan with completed interior updates and a more private position within the community.
The residence occupies a setting with no rear neighbors and views across rolling green hills. It is located in Poway, California, within the Poway Unified School District. The property combines a larger residential floor plan with completed interior updates and a more private position within the community.
Key Highlights
- 1,512‑square‑foot manufactured home with four bedrooms and two bathrooms
- Built in 2009 in Poway Royal Estates
- Remodeled kitchen with new cabinetry, quartz countertops, and brand‑new appliances
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
$25,123
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
6.28%
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%
$502,460
$502.5K
Cap Rate 7%
$358,900
$358.9K
Cap Rate 9%
$279,144
$279.1K
Market Conditions
NOI Build-Up for 1,512 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
$48.1K $31.80/SF
− Vacancy
−$2.4K −$1.59/SF
EGI
$45.7K $30.21/SF
− OpEx
−$20.6K −$13.59/SF
NOI
$25.1K $16.62/SF
Area
San Diego County, CA
Vacancy
5.00%
Lease Rate
$31.80 /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%
$502,460
Cap Rate 7%
$358,900
Cap Rate 9%
$279,144
Alternative Uses
Best Use
Apartment 5plus
$358.9K
$314.0K – $418.7K
NOI $25,123 @ 7.0% cap · market cap 6.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$692.7K
$606.2K – $808.2K
NOI $48,492 @ 7.0% cap · market cap 12.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,047
Businesses Nearby
Explore this area
Business Placement
Demographics for 92064, CA
48,884
Population
16,987
Households
2.9
Avg Household Size
42
Median Age
54%
College-Educated
94%
High-School Grad
42.3 sq mi
ZIP Area
1,156
Density / Sq Mi
$144,201
Median Household Income
$66,906
Median Earnings
$2,261
Median Rent
$971,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Manufactured home with four bedrooms, updated interiors, hillside views, and a private setting without rear neighbors.
Where is this residential income property located?
The property is located at 397-13039 Alpine Dr Poway, CA.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 1,512‑square‑foot manufactured home with four bedrooms and two bathrooms; Built in 2009 in Poway Royal Estates; Remodeled kitchen with new cabinetry, quartz countertops, and brand‑new appliances
