432 S Harbor Blvd #147 · Santa Ana, CA 92701

$165,000

3 bd · 2.0 ba · 1,140 sqft · Manufactured · 94 Days on market

Built 1992 $145/sqft · 18% above area Est $140k · 18% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.5/10.0
• Rent growth +3.2/5.0
• Livability +2.8/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to comfortable and affordable living in the well-established 55 and up community of Bali Hi Mobile Home Lodge. This beautifully maintained 3-bedroom, 2-bath double-wide home offers approximately 1,140 sq ft of living space with a spacious and functional layout. Pride of ownership is evident throughout the home, which has been thoughtfully cared for and well maintained. The floor plan provides comfortable living areas, a practical kitchen, and well-sized bedrooms, offering flexibility for everyday living, guests, or a home office. Located within a clean, well-kept community, residents of Bali Hi Mobile Home Lodge enjoy a welcoming atmosphere along with organized, responsive park management that helps maintain the park’s appealing and peaceful environment. The location adds even more convenience, with shopping, dining, parks, schools, and major freeways just minutes away, making commuting and daily errands simple and accessible while still enjoying the comfort of a quiet community setting. This is a wonderful opportunity to own a move-in-ready home in a well-maintained park in Santa Ana, offering comfort, convenience, and great value.

Key facts

• Move in ready home
• 2 parking spots
• Community pool

Tags

• MOVE IN READY HOME
• QUIET COMMUNITY SETTING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $165k.

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 $165k).
• Recommended offer: $150k (9.0% below list) — sets the bar for market timing.
• Cap rate 14.9% vs local median 2.5% in Santa Ana — 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 55/100 on livability (#871 in CA) — a working-class tenant base; expect higher turnover. Strengths: employment A; Watch: schools D, crime D-, amenities F.
• Garden Grove Unified (suburban): math 38% / reading 65% proficiency, ranked #132 of 517 in CA (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.7%/yr); 70 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; 6,974 units permitted in Orange County in 2024 (3,839 in 5+ unit buildings).
• At $2,936/mo this rent would consume 50% of the median local household income ($71k/yr) (locally 2626% 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Orange County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 2.7% rent growth), your $46k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($150k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $150,150 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 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. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.78% ✓
• Cap rate: 14.87%
• Cash-on-cash: 30.63%
• DSCR: 2.36
• GRM: 4.7

CMA / ARV

• ARV (median comp): $140,000
• List price: $165,000
• Delta: 17.86%
• Verdict: OVERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4117 W Mcfadden Ave #9	0.22mi	3/2.0	1,200 (+5%)	0mo	$166,000	$138	81
4080 W 1st St #174	0.17mi	3/2.0	1,152 (+1%)	18mo	$191,500	$166	76
4080 W First #175	0.17mi	3/2.0	1,100 (-4%)	15mo	$165,000	$150	74
4080 W 1st St #114	0.17mi	2/2.0 (-1)	1,152 (+1%)	16mo	$140,000	$122	72
432 S Harbor Blvd #20	0.00mi	3/2.0	1,248 (+10%)	17mo	$144,500	$116	70
432 S Harbor Blvd #34	0.00mi	2/2.0 (-1)	1,040 (-9%)	14mo	$109,000	$105	69
4117 W Mcfadden Ave #612	0.16mi	2/2.0 (-1)	1,045 (-8%)	17mo	$165,500	$158	60
4117 W McFadden #116	0.25mi	2/2.0 (-1)	1,040 (-9%)	15mo	$160,000	$154	56
3929 W 5th St #34	0.59mi	3/2.0	1,100 (-4%)	19mo	$193,000	$175	50
3929 W 5th St #49	0.65mi	2/2.0 (-1)	1,040 (-9%)	7mo	$152,000	$146	44
5002 W McFadden Ave Spc 81	0.72mi	3/1.0	1,000 (-12%)	2mo	$137,000	$137	40
214 Sequoia Way	0.74mi	3/2.0	1,310 (+15%)	19mo	$180,000	$137	25

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 · 2.71% rent growth · sell at horizon

5-year hold

• IRR: 25.0%
• Equity multiple: 2.03×
• Total profit: $47,562
• Equity at exit: $24,602

10-year hold

• IRR: 32.6%
• Equity multiple: 3.92×
• Total profit: $134,826
• Equity at exit: $14,266

Cash invested: $46,200 (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 92701

• Rents YoY: 2.7%
• Active inventory: 70
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $2,936 high
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,475/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$617
• Net cashflow: $1,179

Break-even live

Break-even rent $1,443

Max offer price $165,000

Occupancy floor 55%

Sensitivity live

Price	-10% $1,293	-5% $1,236	+0% $1,179	+5% $1,122	+10% $1,065
Rent	-10% $947	-5% $1,063	+0% $1,179	+5% $1,295	+10% $1,411
Rate	-1.0pp $1,262	-0.5pp $1,221	base $1,179	+0.5pp $1,137	+1.0pp $1,093

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
517 S Newhope St Santa Ana, CA	2.0	1.0	840	$2,125	$2.53	45d	1	0.32mi
4200 W 1st St Santa Ana, CA	1.0–2.0	1.0–2.0	714	$2,929	$4.10	0d	5	0.34mi
225 S Newhope St Santa Ana, CA	1.0–2.0	1.0–2.0	822	$2,288	$2.78	0d	2	0.37mi
909 S Elliott Pl Santa Ana, CA	4.0	2.0	1351	$4,700	$3.48	44d	1	0.41mi
308 S Laurel St Unit C Santa Ana, CA	2.0	1.0	950	$2,650	$2.79	44d	1	0.42mi
3900 W 5th St Santa Ana, CA	1.0–2.0	1.0–2.0	780	$2,175	$2.79	13d	1	0.47mi
4201 W 5th St Santa Ana, CA	2.0	1.0	921	$2,800	$3.04	8d	1	0.56mi
4109 W 5th St Unit C3 Santa Ana, CA	2.0	2.0	921	$2,500	$2.71	22d	1	0.57mi
4109 W 5th St Unit C3 Santa Ana, CA	2.0	2.0	921	$2,900	$3.15	44d	1	0.57mi
4800 W McFadden Ave Santa Ana, CA	2.0	1.0	820	$2,450	$2.99	19d	1	0.70mi
3200 W 5th St Santa Ana, CA	1.0–2.0	1.0–2.0	769	$2,795	$3.63	3d	9	0.71mi
16350 S Harbor Blvd Santa Ana, CA	1.0–2.0	1.0	800	$2,870	$3.59	44d	1	1.09mi
1314 N Harbor Blvd Santa Ana, CA	2.0	2.0	884	$2,742	$3.10	13d	4	1.09mi
10956 Obsidian Ct Fountain Valley, CA	3.0	1.5	1388	$3,500	$2.52	19d	1	1.12mi
1500 N Harbor Blvd Santa Ana, CA	1.0–2.0	1.0–2.0	780	$2,575	$3.30	16d	1	1.16mi
3630 Westminster Ave Santa Ana, CA	2.0	2.0	997	$2,758	$2.77	44d	1	1.24mi
16245 Mount Baden Powell St Fountain Valley, CA	2.0	2.0	900	$2,650	$2.94	44d	1	1.27mi
15951 Los Reyes St Unit A Fountain Valley, CA	3.0	2.0	1000	$3,100	$3.10	44d	1	1.41mi

Listing history 15 events

1. 2026-06-18
   days on market $165,000 Active 94 DOM
2. 2026-06-17
   days on market $165,000 Active 93 DOM
3. 2026-06-16
   days on market $165,000 Active 92 DOM
4. 2026-06-15
   days on market $165,000 Active 91 DOM
5. 2026-06-13
   days on market $165,000 Active 89 DOM
6. 2026-06-13
   days on market $165,000 Active 88 DOM
7. 2026-06-09
   days on market $165,000 Active 85 DOM
8. 2026-06-08
   days on market $165,000 Active 84 DOM
9. 2026-06-07
   days on market $165,000 Active 83 DOM
10. 2026-06-04
    days on market $165,000 Active 80 DOM
11. 2026-06-03
    days on market $165,000 Active 79 DOM
12. 2026-06-02
    days on market $165,000 Active 78 DOM
13. 2026-06-01
    days on market $165,000 Active 77 DOM
14. 2026-05-31
    days on market $165,000 Active 76 DOM
15. 2026-03-17
    listed $165,000 Active 1164-char remark

    Show marketing remark (1164 chars)

    Welcome to comfortable and affordable living in the well-established 55 and up community of Bali Hi Mobile Home Lodge. This beautifully maintained 3-bedroom, 2-bath double-wide home offers approximately 1,140 sq ft of living space with a spacious and functional layout. Pride of ownership is evident throughout the home, which has been thoughtfully cared for and well maintained. The floor plan provides comfortable living areas, a practical kitchen, and well-sized bedrooms, offering flexibility for everyday living, guests, or a home office. Located within a clean, well-kept community, residents of Bali Hi Mobile Home Lodge enjoy a welcoming atmosphere along with organized, responsive park management that helps maintain the park’s appealing and peaceful environment. The location adds even more convenience, with shopping, dining, parks, schools, and major freeways just minutes away, making commuting and daily errands simple and accessible while still enjoying the comfort of a quiet community setting. This is a wonderful opportunity to own a move-in-ready home in a well-maintained park in Santa Ana, offering comfort, convenience, and great value.

ⓘ 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 2/10 Low FEMA zone X · 3% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥89°F today · 23 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,234
• − Mortgage interest: −$9,243
• − Property taxes: −$2,475
• − Insurance: −$825
• − Repairs & maintenance: −$2,819
• − Management: −$2,819
• − Depreciation: −$4,800
• Taxable income: $12,254
• Est. tax owed @ 24.0%: −$2,941
• After-tax cash flow: $11,210/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: Garden Grove Unified
• NCES district ID: 0614880
• Math proficiency: 38% ▼ -14.00%
• Reading proficiency: 65% ▲ 4.00%
• Median HH income: $60,089
• Composite: 44.89/100
• National rank: #2715
• State rank: #132 of 517 in CA

Livability — Santa Ana

• Score: 55/100
• State rank: #871
• US rank: #23502

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Santa Ana, CA
• County: Orange County · 3,096,323 people
• City population: 288,255
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 47,818
• Household income: $70,572
• Rent vs Own: 72.3% rent · 27.7% own
• Severe rent burden: 2626.0

Population outlook (Orange County) Hauer SSP2

• Today (2025): 3,477,456 people
• By 2030: 3,613,117 · +3.9%
• By 2040: 3,835,945 · +10.3%
• By 2050: 3,968,736 · +14.1%
• By 2075: 4,097,053 · +17.8%
• By 2100: 3,903,633 · +12.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (88%)
• Race & ethnicity: Hispanic / Latino 88% Two or more races 14% White 6% Asian 5% Native American 2%
• Hispanic origin (detail): Mexican 80%
• Foreign-born: 43% · Canada, Vietnam, China
• Languages at home: 16% English-only · Spanish 79% Other Asian/Pacific 2% Vietnamese 1%

Political lean MEDSL · Orange

• 2024 margin: Toss-up / Even · D 49.7% · R 47.1% · Other 3.2%
• 2008→2024 swing: +5.2pp toward D · 2008: -2.6pp · 2024: 2.6pp
• All cycles: 2024: D+2.6 2020: D+9.0 2016: D+7.7 2012: R+8.3 2008: R+2.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -538.28%
• Current HPI: 506.7805
• Rent YoY: ▲ 2.71%
• Metro: Los Angeles-Long Beach-Anaheim, 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

• 2026-03-17 Listed $165,000 SDMLS

Property tax history

-13.3%/yr

Latest (2025): $21 · +0.5% YoY. Source: county tax records.