2191 Harbor Blvd #27 · Costa Mesa, CA 92627

$150,000

4 bd · 2.0 ba · 1,344 sqft · Manufactured · 106 Days on market

Built 2001 $112/sqft · 42% below area Est $260k · 42% 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 +4.8/10.0
• Livability +3.1/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 4-bedroom, 2-bath home located just minutes from Newport Beach! The property features a recently replaced roof and has been exceptionally well maintained. Enjoy a large primary bedroom and bathroom complete with a relaxing jacuzzi tub. Conveniently located near the freeway, schools, shopping centers, hospitals, and of course, the BEACH!

Key facts

• Relaxing jacuzzi tub
• 3 parking spots
• Built 2001

Tags

• RECENTLY REPLACED ROOF
• LARGE PRIMARY BEDROOM
• RELAXING JACUZZI TUB

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $150k.

Deal economics

• At list price, monthly cash flow is $3k ($35k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $150k).
• Recommended offer: $136k (9.0% below list) — sets the bar for market timing.
• Cap rate 29.8% vs local median 1.8% in Costa Mesa — 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 61/100 on livability (#558 in CA) — a middle-class / working-renter tenant base. Strengths: employment A+, amenities B; Watch: schools C-, health & safety D+, crime F.
• Newport-Mesa Unified (urban): math 46% / reading 58% proficiency, ranked #106 of 517 in CA (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.7%/yr); 97 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 6,974 units permitted in Orange County in 2024 (3,839 in 5+ unit buildings).
• At $5,039/mo this rent would consume 55% of the median local household income ($109k/yr) (locally 2889% 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 $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 + 1.7% rent growth), your $42k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y ago; this cycle's ask is 25% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $85k; list at $150k implies a 76% gain — meaningful room to come down on a strong offer.

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 $136,500 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 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. 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?
5. 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.
6. 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.
7. 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: 3.36% ✓
• Cap rate: 29.84%
• Cash-on-cash: 84.11%
• DSCR: 4.74
• GRM: 2.5

CMA / ARV

• ARV (median comp): $260,000
• List price: $150,000
• Delta: -42.31%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2191 Harbor Blvd #9	0.00mi	3/2.0 (-1)	1,152 (-14%)	14mo	$175,000	$152	60

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 · 1.71% rent growth · sell at horizon

5-year hold

• IRR: 83.0%
• Equity multiple: 4.73×
• Total profit: $156,817
• Equity at exit: $22,365

10-year hold

• IRR: 86.0%
• Equity multiple: 9.39×
• Total profit: $352,487
• Equity at exit: $12,969

Cash invested: $42,000 (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 92627

• Rents YoY: 1.7%
• Active inventory: 97
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $5,039 high
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,058
• Net cashflow: $2,944

Break-even live

Break-even rent $1,312

Max offer price $150,000

Occupancy floor 37%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2157 San Michel Dr E Unit A Costa Mesa, CA	3.0	2.5	1350	$4,200	$3.11	44d	1	0.22mi
641 Joann St Costa Mesa, CA	3.0	3.0	1711	$5,850	$3.42	25d	1	0.40mi
641 Joann St Costa Mesa, CA	3.0	3.0	1711	$5,850	$3.42	18d	1	0.40mi
2111 Harper Way Costa Mesa, CA	3.0	2.5	1871	$6,000	$3.21	21d	1	0.45mi
260 Victoria St #5 Costa Mesa, CA	3.0	2.5	1257	$4,200	$3.34	15d	1	0.54mi
292 Joann St Costa Mesa, CA	3.0	2.0	1550	$6,300	$4.06	44d	1	0.55mi
292 Joann St Costa Mesa, CA	3.0	2.0	1550	$6,300	$4.06	8d	1	0.55mi
2258 Pamela Ln Costa Mesa, CA	3.0	2.0	1400	$3,800	$2.71	44d	1	0.65mi
2258 Pamela Ln Unit A Costa Mesa, CA	3.0	2.0	950	$3,695	$3.89	3d	1	0.65mi
2212 Placentia Ave Unit A Costa Mesa, CA	3.0	1.0	1000	$3,400	$3.40	44d	1	0.66mi
2157 Rural Ln Costa Mesa, CA	3.0	2.0	1487	$5,200	$3.50	44d	1	0.70mi
2171 Rural Pl Costa Mesa, CA	4.0	2.0	1750	$7,950	$4.54	15d	1	0.75mi
1956 Rosemary Pl Costa Mesa, CA	3.0	2.5	1642	$8,300	$5.05	22d	1	0.88mi
253 Princeton Dr Costa Mesa, CA	3.0	2.0	1379	$4,650	$3.37	15d	1	0.96mi
2330 Vanguard Way Costa Mesa, CA	3.0	2.0	1313	$4,000	$3.05	44d	1	0.99mi
1822 Pomona Ave Unit B Costa Mesa, CA	3.0	3.0	1200	$5,000	$4.17	3d	1	1.02mi
239 Albert Pl Costa Mesa, CA	3.0	2.0	1743	$6,000	$3.44	21d	1	1.09mi
2476 Elden Ave Apt A Costa Mesa, CA	3.0	2.0	1200	$5,395	$4.50	17d	1	1.27mi
2775 Mesa Verde Dr E Costa Mesa, CA	3.0	1.0–2.0	968	$4,433	$4.58	2d	73	1.29mi
989 Arbor St Costa Mesa, CA	3.0	2.0	1200	$4,500	$3.75	25d	1	1.36mi
2350 Santa Ana Ave Costa Mesa, CA	3.0	2.0	912	$3,850	$4.22	44d	1	1.36mi
1765 Santa Ana Ave Costa Mesa, CA	3.0	1.0–2.0	760	$4,675	$6.15	3d	1	1.37mi
326 Rochester St Unit 326B Costa Mesa, CA	3.0	2.0	900	$3,945	$4.38	44d	1	1.42mi
1094 Sea Bluff Dr Costa Mesa, CA	3.0	2.0	1287	$4,200	$3.26	3d	1	1.45mi
4 Latitude Ct Newport Beach, CA	3.0	3.0	1346	$4,200	$3.12	44d	1	1.45mi
2850 Tabago Pl Costa Mesa, CA	3.0	2.0	1608	$6,700	$4.17	3d	1	1.46mi
2536 Orange Ave Unit F Costa Mesa, CA	3.0	2.5	1100	$4,995	$4.54	22d	1	1.48mi
2536 Orange Ave Costa Mesa, CA	3.0	2.5	1100	$4,995	$4.54	44d	1	1.48mi
38 Starfish Ct Newport Beach, CA	3.0	2.5	1441	$4,000	$2.78	25d	1	1.49mi

Listing history 24 events

1. 2026-06-18
   days on market $150,000 Active 106 DOM
2. 2026-06-17
   days on market $150,000 Active 105 DOM
3. 2026-06-16
   days on market $150,000 Active 104 DOM
4. 2026-06-15
   days on market $150,000 Active 103 DOM
5. 2026-06-13
   days on market $150,000 Active 101 DOM
6. 2026-06-13
   days on market $150,000 Active 100 DOM
7. 2026-06-09
   days on market $150,000 Active 97 DOM
8. 2026-06-08
   days on market $150,000 Active 96 DOM
9. 2026-06-07
   days on market $150,000 Active 95 DOM
10. 2026-06-04
    days on market $150,000 Active 92 DOM
11. 2026-06-03
    days on market $150,000 Active 91 DOM
12. 2026-06-02
    days on market $150,000 Active 90 DOM
13. 2026-06-01
    days on market $150,000 Active 89 DOM
14. 2026-05-31
    days on market $150,000 Active 88 DOM
15. 2026-04-29
    price $150,000 347-char remark

    Show marketing remark (347 chars)

    Spacious 4-bedroom, 2-bath home located just minutes from Newport Beach! The property features a recently replaced roof and has been exceptionally well maintained. Enjoy a large primary bedroom and bathroom complete with a relaxing jacuzzi tub. Conveniently located near the freeway, schools, shopping centers, hospitals, and of course, the BEACH!

16. 2026-03-04
    listed $119,900 Active 347-char remark

    Show marketing remark (347 chars)

    Spacious 4-bedroom, 2-bath home located just minutes from Newport Beach! The property features a recently replaced roof and has been exceptionally well maintained. Enjoy a large primary bedroom and bathroom complete with a relaxing jacuzzi tub. Conveniently located near the freeway, schools, shopping centers, hospitals, and of course, the BEACH!

17. 2026-02-23
    historical
18. 2025-11-25
    listed $150,000 Active
19. 2021-12-02
    historical
20. 2021-06-07
    listed $129,000 Active
21. 2020-11-25
    soldstatus $85,000 Closed Sale
22. 2020-10-29
    status Pending Sale
23. 2020-10-10
    historical Active Under Contract
24. 2020-09-15
    listed $140,000 Active

ⓘ 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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥85°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: $60,465
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$4,837
• − Management: −$4,837
• − Depreciation: −$4,364
• Taxable income: $35,025
• Est. tax owed @ 24.0%: −$8,406
• After-tax cash flow: $26,922/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: Newport-Mesa Unified
• NCES district ID: 0627240
• Math proficiency: 46% ▼ -6.00%
• Reading proficiency: 58% ▼ -5.00%
• Median HH income: $83,922
• Composite: 47.64/100
• National rank: #2248
• State rank: #106 of 517 in CA

Livability — Costa Mesa

• Score: 61/100
• State rank: #558
• US rank: #18441

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Costa Mesa, CA
• County: Orange County · 3,096,323 people
• City population: 111,101
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 60,393
• Household income: $108,994
• Rent vs Own: 61.5% rent · 38.5% own
• Severe rent burden: 2889.0

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 0.60)
• Race & ethnicity: White 48% Hispanic / Latino 41% Two or more races 18% Asian 4% Native American 1%
• Hispanic origin (detail): Mexican 32%
• Common ancestry: Italian 4% Slovak 2% Romanian 2%
• Foreign-born: 22% · Canada, Vietnam, Jamaica
• Languages at home: 62% English-only · Spanish 32% Other Indo-European 1% Other Asian/Pacific 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: ▼ -1520.53%
• Current HPI: 455.1299
• Rent YoY: ▲ 1.71%
• 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

+7.1% since first listed

10 events — show timeline

• 2026-04-29 Price Changed $150,000 CRMLS
• 2026-03-04 Listed $119,900 CRMLS
• 2026-02-23 Listing Removed — CRMLS
• 2025-11-25 Listed $150,000 CRMLS
• 2021-12-02 Listing Removed — CRMLS
• 2021-06-07 Listed $129,000 CRMLS
• 2020-11-25 Sold (MLS) $85,000 CRMLS
• 2020-10-29 Pending — CRMLS
• 2020-10-10 Contingent — CRMLS
• 2020-09-15 Listed $140,000 CRMLS

Property tax history

-2.6%/yr

Latest (2025): $272 · -0.4% YoY. Source: county tax records.