23301 Ridge Route Dr #109 · Laguna Hills, CA 92653

$305,000

2 bd · 2.0 ba · 1,536 sqft · Manufactured · 19 Days on market

Built 1972 Est $369k · 17% under

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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 +25.1/30.0
• ARV discount +15.0/15.0
• DSCR +8.2/10.0
• 1% rule +6.5/10.0
• Schools +5.6/10.0
• Livability +3.6/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

THIS IS A VERY NICE HOME, WELL KEEP EXCELLET PRICE FOR THIS PROPERTY

Key facts

• Owners suite
• Dog park
• Spacious kitchen

Tags

• BONUS ROOM
• SPACIOUS KITCHEN
• GRANITE COUNTER TOPS
• OWNERS SUITE
• PRIVATE OUTDOOR AREA
• DOG PARK

Property features AI

Finance

• Other: Body type: Double (multi-unit/mobile park); Walk score around 60; Access via maintained city streets; directions available
• Financial info: Land lease of $1,995 monthly
• HOA & community: Park: Laguna Hills Estates; Manager approval required for multi-unit; Pets: contact management; Community features include biking paths and a dog park

Exterior

• Parking: Attached garage; Two garage spaces; Three carport spaces (attached carport); Concrete, level driveway; Private parking — total of 5 parking spaces
• Utilities: Electricity on property / connected; Natural gas connected; Public/district water connected; Public sewer / sewer connected; Telephone available in street; Cable available; Gas water heater
• Home design: Single-story; Entry at front on level 1; Mobile home (Model: GREENBRIAR) — 24' x 64', mobile home remains; Turnkey condition with termite clearance
• Construction: Aluminum exterior construction; Shingle roof; Pier jacks foundation
• Exterior features: Concrete patio; Community pool; Storage building; Brick skirt; Zero lot line / patio home

Interior

• Kitchen: Remodeled kitchen with stone/granite counters; Pots & pan drawers; Utility sink
• Bedrooms: Primary bedroom; Primary suite; All bedrooms on main floor; Main floor bedroom
• Flooring: Laminate flooring
• Bathrooms: Two full bathrooms; Shower in tub; Walk-in shower; Exhaust fans
• Heating & cooling: Central heating (high-efficiency central furnace); Central cooling (high-efficiency)
• Interior features: Unfurnished; Granite counters; Blinds and window screens; Community spa
• Laundry & utility: Washer included; Dryer included; Washer hookup; Gas dryer hookup; Stackable washer/dryer capability

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $305k.

Deal economics

• At list price, monthly cash flow is $670 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $305k).
• Recommended offer: $300k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 2.0% in Laguna Hills — 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 71/100 on livability (#222 in CA) — a middle-class / working-renter tenant base. Strengths: employment A+, commute A-, crime B+; Watch: cost of living F, health & safety F.
• Saddleback Valley Unified (suburban): math 51% / reading 73% proficiency, ranked #67 of 517 in CA (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents flat; 60 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 6,974 units permitted in Orange County in 2024 (3,839 in 5+ unit buildings).
• This rent runs 32% of the median local income ($133k/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 $2k of loan paydown is wiped out by about $9k 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.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($300k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 22y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $95k; list at $305k implies a 221% gain — meaningful room to come down on a strong offer.

Recommended offer $300,425 (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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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.
5. 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.
6. 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: 1.15% ✓
• Cap rate: 8.93%
• Cash-on-cash: 9.42%
• DSCR: 1.42
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $368,640
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23301 Ridge Route Dr #95	0.00mi	2/2.0	1,536 (0%)	4mo	$479,000	$312	96
23301 Ridge Rte #47	0.00mi	2/2.0	1,440 (-6%)	1mo	$205,000	$142	89
23301 Ridge Route Dr #26	0.00mi	3/2.0 (+1)	1,460 (-5%)	0mo	$350,000	$240	86
23301 Ridge Rte #247	0.12mi	3/2.0 (+1)	1,590 (+4%)	0mo	$545,000	$343	83
23301 Ridge Route Dr #81	0.00mi	3/2.0 (+1)	1,440 (-6%)	7mo	$350,000	$243	79
23301 Ridge Route Dr #118	0.00mi	3/2.0 (+1)	1,600 (+4%)	13mo	$382,000	$239	78
23301 Ridge Route Dr #138	0.11mi	3/2.0 (+1)	1,596 (+4%)	8mo	$358,000	$224	76
23301 Ridge Route Dr #32	0.00mi	3/2.0 (+1)	1,620 (+6%)	13mo	$395,000	$244	75
23301 Ridge Route Dr #192	0.00mi	3/2.0 (+1)	1,700 (+11%)	16mo	$300,000	$176	64

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 · 0.74% rent growth · sell at horizon

5-year hold

• IRR: -4.7%
• Equity multiple: 0.83×
• Total profit: $-14,487
• Equity at exit: $45,476

10-year hold

• IRR: 2.2%
• Equity multiple: 1.14×
• Total profit: $11,918
• Equity at exit: $26,371

Cash invested: $85,400 (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 92653

• Rents YoY: 0.7%
• Active inventory: 60
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $3,517 high
• Mortgage (P&I): −$1,599
• Tax est. 1.5%: −$381 /mo · $4,575/yr
• Insurance: −$127
• HOA: −$0
• Vacancy / Maint / Mgmt: −$739
• Net cashflow: $670

Break-even live

Break-even rent $2,668

Max offer price $305,000

Occupancy floor 76%

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: $76,250
• Closing costs: $9,150
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2370 Via Mariposa W Unit 3D Laguna Woods, CA	3.0	3.0	1663	$3,300	$1.98	18d	1	0.22mi
2369 Via Mariposa E Unit 1B Laguna Woods, CA	2.0	2.0	1340	$2,950	$2.20	43d	1	0.27mi
2369 Via Mariposa E Unit 3H Laguna Woods, CA	3.0	3.0	1663	$3,750	$2.25	43d	1	0.27mi
2293 Via Puerta Unit O Laguna Woods, CA	2.0	2.0	1057	$3,100	$2.93	18d	1	0.34mi
2269 Via Puerta Unit N Laguna Woods, CA	2.0	2.0	1057	$2,700	$2.55	18d	1	0.37mi
2299 Via Puerta Unit F Laguna Woods, CA	2.0	3.0	1530	$3,500	$2.29	18d	1	0.44mi
2355 Via Mariposa W Unit 3H Laguna Woods, CA	3.0	2.0	1662	$3,500	$2.11	18d	1	0.57mi
2037 Via Mariposa E Laguna Woods, CA	2.0	2.0	1325	$3,300	$2.49	43d	1	0.67mi
2022 Via Mariposa E Unit B Laguna Woods, CA	2.0	2.0	1325	$3,200	$2.42	18d	1	0.68mi
2022 Via Mariposa E Unit D Laguna Woods, CA	2.0	2.0	1305	$4,000	$3.07	43d	1	0.69mi
22892 Plainview Cir Lake Forest, CA	3.0	2.0	1836	$5,400	$2.94	43d	1	0.83mi
263 Calle Aragon Unit A Laguna Woods, CA	2.0	2.0	1275	$3,800	$2.98	17d	1	0.85mi
23580 Milano Unit 2 Laguna Hills, CA	3.0	2.0	1300	$3,800	$2.92	17d	1	0.88mi
22700 Lake Forest Dr Lake Forest, CA	1.0–3.0	1.0–2.0	1008	$3,248	$3.22	4d	1	0.94mi
24299 Paseo De Valencia Laguna Woods, CA	2.0	2.0	1347	$3,770	$2.80	22d	7	0.99mi
969 Calle Aragon Unit 1B Laguna Woods, CA	2.0	2.0	1195	$2,900	$2.43	24d	1	1.05mi
22361 Torino Laguna Hills, CA	3.0	2.0	1290	$6,500	$5.04	43d	1	1.07mi
22835 Islamare Ln Lake Forest, CA	3.0	2.5	1860	$6,600	$3.55	12d	1	1.08mi
22301 Caminito Mescalero #223 Laguna Hills, CA	3.0	2.5	1500	$3,700	$2.47	43d	1	1.15mi
59 Calle Cadiz Unit B Laguna Woods, CA	2.0	2.0	1070	$3,500	$3.27	43d	1	1.16mi
4003 C. Sonora Unit 2B Laguna Woods, CA	2.0	2.0	1171	$3,100	$2.65	24d	1	1.17mi
22602 Cottonwood Cir Lake Forest, CA	3.0	2.0	1301	$4,250	$3.27	43d	1	1.24mi
5438 Via Carrizo Unit A Laguna Woods, CA	3.0	2.0	1612	$4,400	$2.73	43d	1	1.26mi
23491 Via San Miguel Aliso Viejo, CA	3.0	2.0	1240	$3,850	$3.10	12d	1	1.31mi
479 Calle Cadiz Unit B Laguna Woods, CA	2.0	2.0	1050	$3,300	$3.14	17d	1	1.32mi
24621 Overlake Dr Lake Forest, CA	3.0	2.0	1677	$4,350	$2.59	24d	1	1.33mi
4002 Calle Sonora Unit 2D Laguna Woods, CA	2.0	2.0	1189	$3,000	$2.52	43d	1	1.36mi
24362 Woodwalk Rd Lake Forest, CA	3.0	2.5	2047	$4,995	$2.44	4d	1	1.38mi
24362 Woodwalk Rd Lake Forest, CA	3.0	2.0	2047	$4,795	$2.34	12d	1	1.38mi
23491 Los Adornos Aliso Viejo, CA	3.0	2.0	1250	$3,600	$2.88	43d	1	1.39mi
480 Calle Cadiz Unit B Laguna Woods, CA	2.0	2.0	1324	$3,100	$2.34	43d	1	1.42mi
205 Avenida Majorca Unit A Laguna Woods, CA	2.0	2.0	1278	$3,600	$2.82	43d	1	1.50mi

Listing history 15 events

1. 2026-06-18
   days on market $305,000 Active 19 DOM
2. 2026-06-17
   days on market $305,000 Active 18 DOM
3. 2026-06-16
   days on market $305,000 Active 17 DOM
4. 2026-06-15
   days on market $305,000 Active 16 DOM
5. 2026-06-13
   days on market $305,000 Active 14 DOM
6. 2026-06-13
   days on market $305,000 Active 13 DOM
7. 2026-06-09
   days on market $305,000 Active 10 DOM
8. 2026-06-08
   days on market $305,000 Active 9 DOM
9. 2026-06-07
   days on market $305,000 Active 8 DOM
10. 2026-06-04
    days on market $305,000 Active 5 DOM
11. 2026-06-03
    days on market $305,000 Active 4 DOM
12. 2026-06-02
    days on market $305,000 Active 3 DOM
13. 2026-06-01
    days on market $305,000 Active 2 DOM
14. 2026-05-31
    remarks 685-char remark
15. 2026-05-31
    listed $305,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $42,202
• − Mortgage interest: −$17,085
• − Property taxes: −$4,575
• − Insurance: −$1,525
• − Repairs & maintenance: −$3,376
• − Management: −$3,376
• − Depreciation: −$8,873
• Taxable income: $3,392
• Est. tax owed @ 24.0%: −$814
• After-tax cash flow: $7,232/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: Saddleback Valley Unified
• NCES district ID: 0633860
• Math proficiency: 51% ▼ -2.00%
• Reading proficiency: 73% ▲ 9.00%
• Median HH income: $85,577
• Composite: 56.05/100
• National rank: #1185
• State rank: #67 of 517 in CA

Livability — Laguna Hills

• Score: 71/100
• State rank: #222
• US rank: #7216

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Laguna Hills, CA
• County: Orange County · 3,096,323 people
• City population: 29,624
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 29,624
• Household income: $133,194
• Rent vs Own: 30.5% rent · 69.5% own
• Severe rent burden: 834.0

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 0.62)
• Race & ethnicity: White 56% Hispanic / Latino 21% Asian 15% Two or more races 14% Black 1%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Italian 2% Lithuanian 2% Romanian 2%
• Foreign-born: 26% · Canada, Vietnam, China
• Languages at home: 67% English-only · Spanish 14% Other Indo-European 7% 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: ▼ -675.90%
• Current HPI: 401.3963
• Rent YoY: ▲ 0.74%
• 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

+626.2% since first listed

8 events — show timeline

• 2026-05-30 Listed $305,000 CRMLS
• 2018-11-13 Sold (MLS) $95,000 CRMLS
• 2018-10-02 Pending — CRMLS
• 2018-09-15 Listed $95,000 CRMLS
• 2009-01-02 Listing Removed — CRMLS
• 2007-09-12 Listed $35,000 CRMLS
• 2004-09-08 Sold (MLS) $42,000 CRMLS
• 2004-06-01 Listed $42,000 CRMLS

Property tax history

-9.1%/yr

Latest (2025): $19 · -0.2% YoY. Source: county tax records.