300 N Rampart St #42 · Orange, CA 92868

$119,000

2 bd · 2.0 ba · 1,200 sqft · Manufactured · 17 Days on market

Built 1972 Average condition Est $181k · 34% under

---

Why this score? — see what drove the B+ 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.5/10.0
• Livability +3.7/5.0
• Rent growth +3.0/5.0
• Condition / age +2.8/5.0
• Appreciation +0.0/10.0

Listing remarks

Located at * * 300 N. Rampart St. , Space 42, Orange, CA 92868 * * , this 2-bedroom, 2-bathroom manufactured home in Park Royale offers a practical opportunity in a convenient Orange County location. The home features an open floor plan with functional living space for everyday living, entertaining, or flexible personal use. Park Royale offers a central Orange location near shopping, dining, entertainment, Angel Stadium, and major transportation routes, including the 57 and 5 freeways. This property is positioned as a strong value opportunity in Park Royale.

Key facts

• Community pool
• Built 1972
• Listed 17 days

Property features AI

Finance

• Other: Subdivision: Park 72 (Park 72/PK72); Location note: Off E Orangewood Ave & N Rampart St
• Financial info: Sewer assessments exist and are to be paid by seller
• HOA & community: Land lease: $2,700 monthly (seller-provided amount); Park rules may include size, breed and number limits for pets

Exterior

• Parking: Covered parking; On-site parking space; Park name: Park Royale
• Security: Smoke detector; Carbon monoxide detector; Resident manager; Manager approval required
• Utilities: Standard electric service; Electricity connected; District/public water; Private and public sewer access
• Home design: Single-story manufactured home (Model: Ocean); Mobile home remains on site; Turnkey condition; Front entry
• Construction: Aluminum exterior; Pillar/post/pier foundation; Other roof type; Built by BUDDY
• Exterior features: Community pool; Dog park; Suburban community; One shed; 0–1 unit per acre

Interior

• Kitchen: Gas cooktop; Microwave; Refrigerator
• Bedrooms: Main-floor primary bedroom
• Flooring: Vinyl; Laminate
• Bathrooms: 2 full bathrooms; Walk-in shower
• Heating & cooling: Central cooling
• Interior features: Ceiling fan; Open floor plan; Formica counters; Blinds; Community spa; Resident manager; Smoke and carbon monoxide detectors; Entry at front; Single-level home
• Laundry & utility: Washer included; Dryer included; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $119k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $119k).
• Recommended offer: $117k (1.5% below list) — sets the bar for market timing.
• Cap rate 24.6% vs local median 2.2% in Orange — 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 73/100 on livability (#172 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, employment A+, crime B; Watch: health & safety C-, cost of living F.
• Orange Unified (urban): math 39% / reading 60% proficiency, ranked #127 of 517 in CA (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lampson Elementary (615 students, 89% FRL); Portola Middle (597 students, 91% FRL); Orange High (math 19% / reading 48%, grade F, #656 of 1,170 statewide, top 57%, 1,807 students, 89% FRL) — zoned schools average 90% FRL vs 38% district-wide (51 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 34% at this address vs 50% district-wide (-16 pts) — the specific schools serving this property underperform the Orange Unified average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.9%/yr); 34 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 6,974 units permitted in Orange County in 2024 (3,839 in 5+ unit buildings).
• This rent runs 41% of the median local income ($98k/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 $823 of loan paydown is wiped out by about $4k 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 + 1.9% rent growth), your $33k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($117k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $117,215 (1.5% below list)

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 2.81% ✓
• Cap rate: 24.61%
• Cash-on-cash: 65.42%
• DSCR: 3.91
• GRM: 3.0

CMA / ARV

• ARV (on-the-fly): $181,200
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
300 N Rampart St #174	0.03mi	3/2.0 (+1)	1,344 (+12%)	8mo	$249,900	$186	66
2300 S Lewis St #172	0.65mi	3/2.0 (+1)	1,176 (-2%)	7mo	$155,000	$132	56
2300 S Lewis St #18	0.65mi	2/2.0	1,198 (-0%)	23mo	$175,000	$146	50
2300 S Lewis St #150	0.65mi	3/2.0 (+1)	1,160 (-3%)	20mo	$175,000	$151	42
2300 Lewis St #183	0.65mi	2/2.0	1,344 (+12%)	14mo	$195,000	$145	38
2300 S Lewis St #20	0.65mi	2/2.0	1,368 (+14%)	15mo	$65,000	$48	34
2300 S Lewis St #72	0.65mi	3/2.0 (+1)	1,340 (+12%)	14mo	$270,000	$201	33
2300 S Lewis St #141	0.65mi	3/2.0 (+1)	1,344 (+12%)	20mo	$210,000	$156	28

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 · 1.89% rent growth · sell at horizon

5-year hold

• IRR: 63.4%
• Equity multiple: 3.78×
• Total profit: $92,764
• Equity at exit: $17,743

10-year hold

• IRR: 67.4%
• Equity multiple: 7.46×
• Total profit: $215,141
• Equity at exit: $10,289

Cash invested: $33,320 (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 92868

• Rents YoY: 1.9%
• Active inventory: 34
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $3,340 high
• Mortgage (P&I): −$624
• Tax est. 1.5%: −$149 /mo · $1,785/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$701
• Net cashflow: $1,816

Break-even live

Break-even rent $1,041

Max offer price $119,000

Occupancy floor 41%

Sensitivity live

Price	-10% $1,899	-5% $1,858	+0% $1,816	+5% $1,775	+10% $1,734
Rent	-10% $1,553	-5% $1,684	+0% $1,816	+5% $1,948	+10% $2,080
Rate	-1.0pp $1,876	-0.5pp $1,847	base $1,816	+0.5pp $1,786	+1.0pp $1,754

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3063 W Chapman Ave Orange, CA	1.0–2.0	1.0–2.0	869	$3,227	$3.71	0d	27	0.16mi
299 N State College Blvd Orange, CA	2.0	1.0–2.0	1006	$4,805	$4.78	0d	74	0.29mi
1912 S Jacaranda St Anaheim, CA	3.0	1.0–2.0	993	$4,016	$4.04	0d	20	0.59mi
385 S Manchester Ave Orange, CA	2.0	1.0–2.0	903	$4,346	$4.81	0d	27	0.59mi
1910 S Union St Anaheim, CA	2.0	1.0–2.0	1135	$3,802	$3.35	0d	19	0.64mi
1921 S Union St Anaheim, CA	3.0	1.0–2.0	962	$3,746	$3.89	0d	17	0.69mi
1897 S Union St #132 Anaheim, CA	1.0	1.5	1224	$3,800	$3.10	0d	1	0.76mi
1818 S State College Blvd Anaheim, CA	1.0–2.0	1.0–2.0	1033	$3,280	$3.17	0d	13	0.77mi
2100 E Katella Ave Anaheim, CA	1.0–2.0	2.0	1205	$3,810	$3.16	0d	7	0.78mi
200 City Blvd W Orange, CA	2.0	1.0–2.0	897	$3,272	$3.65	0d	14	0.81mi
2104 S Lewis St Anaheim, CA	1.0–2.0	1.0–2.0	804	$3,399	$4.22	0d	5	0.81mi
2000 W Palmyra Ave Orange, CA	3.0	2.5	1387	$3,599	$2.59	11d	1	0.82mi
175 N Feldner Rd Orange, CA	1.0–2.0	1.0–2.0	753	$3,197	$4.24	0d	11	0.82mi
1851 Union St Anaheim, CA	1.0	1.5	1223	$2,800	$2.29	0d	1	0.84mi
1910 W Palmyra Ave #92 Orange, CA	3.0	1.5	1358	$3,400	$2.50	14d	1	0.89mi
801 E Orangewood Ave Anaheim, CA	1.0–2.0	1.0–2.0	775	$3,185	$4.11	0d	3	0.90mi
1801 E Katella Ave Anaheim, CA	1.0–2.0	1.0–2.0	911	$3,075	$3.37	2d	4	0.92mi
1801 E Katella Ave Anaheim, CA	1.0–2.0	1.0–2.0	911	$3,075	$3.37	26d	4	0.92mi
1801 E Katella Ave Anaheim, CA	1.0–2.0	1.0–2.0	919	$3,000	$3.26	0d	3	0.92mi
1801 E Katella Ave Anaheim, CA	1.0–2.0	1.0–2.0	911	$3,075	$3.37	23d	6	0.92mi
1815 S Westside Dr Anaheim, CA	2.0	1.0–2.5	1033	$3,995	$3.87	0d	28	0.94mi
2072 S Nautical St #2 Anaheim, CA	2.0	1.0	1120	$2,695	$2.41	0d	1	0.99mi
1921 W La Veta Ave Orange, CA	1.0–2.0	1.0	762	$2,847	$3.73	6d	6	1.00mi
1331 E Katella Ave Anaheim, CA	1.0	2.0	942	$2,875	$3.05	0d	2	1.00mi
2044 S Nautical St Anaheim, CA	2.0	1.0	850	$2,300	$2.71	0d	1	1.01mi
1515 E Katella Ave Anaheim, CA	2.0	1.0–2.0	775	$3,297	$4.25	0d	19	1.01mi
1725 S Auburn Way Anaheim, CA	2.0	1.0–2.0	802	$3,130	$3.90	0d	15	1.05mi
1323 W Palmyra Pl Unit B Orange, CA	2.0	1.5	920	$3,500	$3.80	19d	1	1.10mi
1323 W Palmyra Pl Unit B Orange, CA	2.0	1.5	920	$3,500	$3.80	21d	1	1.10mi
13181 Balboa Ave Garden Grove, CA	3.0	2.0	1000	$3,295	$3.29	45d	1	1.10mi
325 E Leatrice Ln Anaheim, CA	2.0	1.0	725	$2,475	$3.41	12d	1	1.17mi
331 E Wakefield Ave Anaheim, CA	3.0	2.0	1134	$3,200	$2.82	0d	1	1.18mi
12621 Lewis St Garden Grove, CA	2.0	2.0	960	$2,600	$2.71	8d	1	1.18mi
132 S Lime St Orange, CA	3.0	1.0	1000	$3,995	$4.00	7d	1	1.19mi
12681 Lewis St Garden Grove, CA	2.0	1.0–2.0	775	$2,722	$3.51	2d	1	1.20mi
126 E Wilken Way Unit 6 Anaheim, CA	2.0	1.0	900	$2,995	$3.33	0d	1	1.22mi
1147 W Memory Ln Santa Ana, CA	2.0	1.5	956	$2,700	$2.82	45d	1	1.23mi
3825 W Garden Grove Blvd Orange, CA	1.0–3.0	1.0–2.5	1112	$2,630	$2.36	4d	3	1.25mi
1313 W Memory Ln Santa Ana, CA	1.0–2.0	1.0–2.0	803	$2,750	$3.42	45d	4	1.28mi
126 S Batavia St Orange, CA	3.0	2.0	1200	$3,695	$3.08	5d	1	1.30mi

Listing history 16 events

1. 2026-06-21
   days on market $119,000 Active 17 DOM
2. 2026-06-18
   days on market $119,000 Active 14 DOM
3. 2026-06-17
   days on market $119,000 Active 13 DOM
4. 2026-06-16
   days on market $119,000 Active 12 DOM
5. 2026-06-15
   days on market $119,000 Active 11 DOM
6. 2026-06-13
   days on market $119,000 Active 9 DOM
7. 2026-06-13
   days on market $119,000 Active 8 DOM
8. 2026-06-09
   days on market $119,000 Active 5 DOM
9. 2026-06-08
   days on market $119,000 Active 4 DOM
10. 2026-06-07
    statusdays on market $119,000 Active 3 DOM
11. 2026-06-04
    days on market $119,000 Coming Soon 5 DOM
12. 2026-06-03
    days on market $119,000 Coming Soon 4 DOM
13. 2026-06-02
    days on market $119,000 Coming Soon 3 DOM
14. 2026-06-01
    days on market $119,000 Coming Soon 2 DOM
15. 2026-05-31
    remarks 567-char remark
16. 2026-05-31
    listed $119,000 Coming Soon 1 DOM

ⓘ 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 4/10 Moderate FEMA zone X · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥94°F today · 22 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 12 unhealthy d/yr today · 13 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,083
• − Mortgage interest: −$6,666
• − Property taxes: −$1,785
• − Insurance: −$595
• − Repairs & maintenance: −$3,207
• − Management: −$3,207
• − Depreciation: −$3,462
• Taxable income: $21,162
• Est. tax owed @ 24.0%: −$5,079
• After-tax cash flow: $16,718/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

Average 55/100 Moderate rehab

This manufactured home requires moderate renovations to update the kitchen and bathrooms, which will significantly increase its resale and rental value.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of updating
• Moderate kitchen countertops — dated and in need of updating
• Moderate kitchen backsplash — dated and in need of updating
• Minor bathroom fixtures — standard fixtures

Value-add opportunities

• Resale update kitchen cabinets and countertops — modernizing the kitchen will attract more buyers
• Resale update bathroom fixtures — modernizing the bathrooms will attract more buyers
• Both paint interior walls — painting the interior walls will improve the home's curb appeal and resale value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of updating	Moderate	$3,000–15,000
kitchen countertops · dated and in need of updating	Moderate	$3,000–15,000
kitchen backsplash · dated and in need of updating	Moderate	$3,000–15,000
bathroom fixtures · standard fixtures	Minor	$500–3,000
Total estimated repair cost · 4 items		$9,500–48,000

Value-add ROI direction

• Resale update kitchen cabinets and countertops — modernizing the kitchen will attract more buyers ↑
• Resale update bathroom fixtures — modernizing the bathrooms will attract more buyers ↑
• Both paint interior walls — painting the interior walls will improve the home's curb appeal and resale value ↑

ⓘ 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: Orange Unified
• NCES district ID: 0628650
• Math proficiency: 39% ▼ -6.00%
• Reading proficiency: 60% ▲ 3.00%
• Median HH income: $83,557
• Composite: 45.5/100
• National rank: #2609
• State rank: #127 of 517 in CA

Livability — Orange

• Score: 73/100
• State rank: #172
• US rank: #5560

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Orange, CA
• County: Orange County · 3,096,323 people
• City population: 143,297
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 26,380
• Household income: $97,500
• Rent vs Own: 69.1% rent · 30.9% own
• Severe rent burden: 1763.0

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: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Hispanic / Latino 51% White 25% Asian 16% Two or more races 15% Black 3% Native American 2%
• Hispanic origin (detail): Mexican 44%
• Common ancestry: Italian 2% Portuguese 1% Romanian 1%
• Foreign-born: 25% · Canada, Vietnam, South Korea
• Languages at home: 53% English-only · Spanish 32% Vietnamese 4% Tagalog/Filipino 3%

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: ▼ -537.48%
• Current HPI: 489.0285
• Rent YoY: ▲ 1.89%
• 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

• 2026-05-30 Coming Soon $119,000 CRMLS