1845 Monrovia Ave #88 · Costa Mesa, CA 92627

$295,000

2 bd · 2.5 ba · 1,177 sqft · Manufactured · 118 Days on market

Built 1969 $251/sqft · 47% above area Est $201k · 47% 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 +24.9/30.0
• DSCR +8.1/10.0
• 1% rule +6.5/10.0
• Schools +4.8/10.0
• Livability +3.1/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

All appliances included, home was gutted, 2 br 2.5 ba, new flooring, new windows, new canned lighting, new drywall, new electric wire and pannel, new plubming, new counter tops, new paint, new siding, new tankless water heater, no carpet. House looks and feels like brand new!!!, 1 1/2 miles to the Beach!! 240 volt electric vehical charging outlet, 3-4 car parking in carport! Space rent is $1500 monthly, You have to come see it! SENIOR PARK MUST BE 55 OR OLDER

Key facts

• New drywall
• Gutted
• New flooring

Tags

• ALL APPLIANCES INCLUDED
• GUTTED
• NEW FLOORING
• NEW WINDOWS
• NEW CANNED LIGHTING
• NEW DRYWALL

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath manufactured listed at $295k.

Deal economics

• At list price, monthly cash flow is $630 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $295k).
• Recommended offer: $268k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).
• This rent runs 37% of the median local income ($109k/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 118 days — a 9% lower offer ($268k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y 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 $50k; list at $295k implies a 490% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 5→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $268,450 (9.0% below list)

Questions for the listing agent

1. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.15% ✓
• Cap rate: 8.86%
• Cash-on-cash: 9.16%
• DSCR: 1.41
• GRM: 7.3

CMA / ARV

• ARV (median comp): $200,501
• List price: $295,000
• Delta: 47.13%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1750 Whittier #86	0.21mi	3/2.0 (+1)	1,080 (-8%)	2mo	$260,000	$241	68
903 W 17th #63	0.42mi	2/2.0	1,197 (+2%)	23mo	$207,000	$173	57
1750 Whittier #87	0.24mi	3/2.0 (+1)	1,344 (+14%)	4mo	$360,000	$268	55
1660 Whittier Ave #1	0.46mi	2/2.0	1,056 (-10%)	10mo	$235,000	$223	51

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: -3.9%
• Equity multiple: 0.86×
• Total profit: $-11,929
• Equity at exit: $43,985

10-year hold

• IRR: 4.3%
• Equity multiple: 1.29×
• Total profit: $24,211
• Equity at exit: $25,506

Cash invested: $82,600 (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: 7.3×

Monthly cashflow live

• Estimated rent: $3,379 high
• Mortgage (P&I): −$1,547
• Tax est. 1.5%: −$369 /mo · $4,425/yr
• Insurance: −$123
• HOA: −$0
• Vacancy / Maint / Mgmt: −$710
• Net cashflow: $630

Break-even live

Break-even rent $2,581

Max offer price $295,000

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1819 Monrovia Ave Costa Mesa, CA	1.0–2.0	1.0	821	$2,805	$3.42	4d	1	0.06mi
955 W 19th St Costa Mesa, CA	2.0	1.0	900	$3,043	$3.38	14d	2	0.17mi
1850 Whittier Ave Costa Mesa, CA	1.0–2.0	1.0–2.0	775	$3,657	$4.72	1d	9	0.20mi
825 Center St Costa Mesa, CA	2.0	1.0–2.0	850	$3,200	$3.76	24d	1	0.23mi
989 Arbor St Costa Mesa, CA	3.0	2.0	1200	$4,500	$3.75	24d	1	0.27mi
1846 Placentia Ave Apt A Costa Mesa, CA	2.0	1.0	800	$2,700	$3.38	43d	1	0.32mi
4 Latitude Ct Newport Beach, CA	3.0	3.0	1346	$4,200	$3.12	43d	1	0.36mi
1822 Pomona Ave Unit B Costa Mesa, CA	3.0	3.0	1200	$5,000	$4.17	3d	1	0.55mi
38 Starfish Ct Newport Beach, CA	3.0	2.5	1441	$4,000	$2.78	24d	1	0.64mi
2061-D Wallace Ave Costa Mesa, CA	2.0	1.5	986	$2,735	$2.77	24d	1	0.70mi
2115 Placentia Ave Costa Mesa, CA	1.0–2.0	1.0–2.0	725	$2,595	$3.58	2d	4	0.74mi
625 Shalimar Dr Apt 4 Costa Mesa, CA	1.0	1.0	760	$2,550	$3.36	43d	1	0.75mi
1525 Placentia Ave Newport Beach, CA	2.0	1.0–1.5	635	$3,200	$5.04	5d	3	0.80mi
1544 Placentia Ave Newport Beach, CA	1.0–2.0	1.0	900	$3,035	$3.37	24d	1	0.81mi
1094 Sea Bluff Dr Costa Mesa, CA	3.0	2.0	1287	$4,200	$3.26	3d	1	0.81mi
1530 Placentia Ave Newport Beach, CA	2.0	1.0	715	$2,995	$4.19	24d	1	0.82mi
819 W 15th St Unit 4C Newport Beach, CA	2.0	2.5	1295	$4,500	$3.47	43d	1	0.90mi
454 Bolero Way Newport Beach, CA	2.0	2.0	972	$4,195	$4.32	43d	1	0.91mi
1940 Maple Ave Costa Mesa, CA	2.0	2.5	1172	$3,575	$3.05	15d	1	0.94mi
1940 Maple Ave Costa Mesa, CA	2.0	2.5	1170	$3,495	$2.99	20d	1	0.94mi
1999 Maple Ave Unit 202 Costa Mesa, CA	2.0	1.0	704	$2,575	$3.66	7d	1	0.94mi
673 Victoria St Costa Mesa, CA	2.0	1.0	700	$3,000	$4.29	17d	1	0.97mi
1433 Superior Ave Newport Beach, CA	1.0	1.0	600	$2,845	$4.74	43d	3	0.99mi
2212 Placentia Ave Unit A Costa Mesa, CA	3.0	1.0	1000	$3,400	$3.40	43d	1	1.00mi
2151 Pacific Ave Costa Mesa, CA	2.0	2.0	908	$3,025	$3.33	43d	1	1.01mi
2218 Placentia Ave Unit D Costa Mesa, CA	2.0	1.0	900	$3,000	$3.33	43d	1	1.01mi
2002 Maple Ave Costa Mesa, CA	2.0	1.0	950	$2,595	$2.73	24d	1	1.01mi
2244 Canyon Dr Unit 2244 D Costa Mesa, CA	2.0	1.0	740	$2,750	$3.72	22d	1	1.02mi
2250 Canyon Dr Costa Mesa, CA	2.0	1.0	740	$2,750	$3.72	15d	1	1.04mi
2175 Pacific Ave Unit E5 Costa Mesa, CA	2.0	2.0	1117	$3,400	$3.04	7d	1	1.06mi
592 Hamilton St Apt C Costa Mesa, CA	2.0	1.0	810	$3,800	$4.69	43d	1	1.06mi
2068 Maple Ave Unit C Costa Mesa, CA	2.0	2.5	1482	$5,000	$3.37	43d	1	1.06mi
201 E 16th St Unit D Costa Mesa, CA	2.0	1.0	1050	$3,700	$3.52	43d	1	1.07mi
201 E 16th St Unit C Costa Mesa, CA	2.0	1.0	1050	$3,700	$3.52	24d	1	1.07mi
1612 Orange Ave Costa Mesa, CA	2.0	1.0	738	$3,795	$5.14	24d	1	1.08mi
1614 Orange Ave Costa Mesa, CA	2.0	1.0	738	$3,795	$5.14	24d	1	1.08mi
204 16th Pl Unit C Costa Mesa, CA	2.0	1.0	880	$3,100	$3.52	5d	1	1.10mi
1032 W Wilson St Unit 1024B Costa Mesa, CA	2.0	1.5	1028	$2,975	$2.89	43d	1	1.10mi
102 Scholz Plz Newport Beach, CA	1.0	1.0	726	$3,045	$4.19	2d	1	1.12mi
102 Scholz Plz Newport Beach, CA	1.0	1.0	726	$3,200	$4.41	43d	1	1.12mi

Listing history 24 events

1. 2026-06-18
   days on market $295,000 Active 118 DOM
2. 2026-06-17
   days on market $295,000 Active 117 DOM
3. 2026-06-16
   days on market $295,000 Active 116 DOM
4. 2026-06-15
   days on market $295,000 Active 115 DOM
5. 2026-06-13
   days on market $295,000 Active 113 DOM
6. 2026-06-13
   days on market $295,000 Active 112 DOM
7. 2026-06-09
   days on market $295,000 Active 109 DOM
8. 2026-06-08
   days on market $295,000 Active 108 DOM
9. 2026-06-07
   days on market $295,000 Active 107 DOM
10. 2026-06-04
    days on market $295,000 Active 104 DOM
11. 2026-06-03
    days on market $295,000 Active 103 DOM
12. 2026-06-02
    days on market $295,000 Active 102 DOM
13. 2026-06-01
    days on market $295,000 Active 101 DOM
14. 2026-05-31
    days on market $295,000 Active 100 DOM
15. 2026-02-20
    listed $295,000 Active 465-char remark

    Show marketing remark (465 chars)

    All appliances included, home was gutted, 2 br 2.5 ba, new flooring, new windows, new canned lighting, new drywall, new electric wire and pannel, new plubming, new counter tops, new paint, new siding, new tankless water heater, no carpet. House looks and feels like brand new!!!, 1 1/2 miles to the Beach!! 240 volt electric vehical charging outlet, 3-4 car parking in carport! Space rent is $1500 monthly, You have to come see it! SENIOR PARK MUST BE 55 OR OLDER

16. 2022-12-30
    historical
17. 2022-12-08
    price $289,000
18. 2022-10-15
    status Active
19. 2022-09-30
    listed $275,000 Active
20. 2022-09-24
    historical
21. 2015-08-31
    historical
22. 2015-08-31
    soldstatus $50,000 Closed Sale
23. 2015-08-26
    status Pending Sale
24. 2015-08-01
    listed $50,000 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 5 d/yr ≥82°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,544
• − Mortgage interest: −$16,525
• − Property taxes: −$4,425
• − Insurance: −$1,475
• − Repairs & maintenance: −$3,243
• − Management: −$3,243
• − Depreciation: −$8,582
• Taxable income: $3,050
• Est. tax owed @ 24.0%: −$732
• After-tax cash flow: $6,833/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

+490.0% since first listed

10 events — show timeline

• 2026-02-20 Listed $295,000 CRMLS
• 2022-12-30 Listing Removed — CRMLS
• 2022-12-08 Price Changed $289,000 CRMLS
• 2022-10-15 Relisted — CRMLS
• 2022-09-30 Listed $275,000 CRMLS
• 2022-09-24 Coming Soon — CRMLS
• 2015-08-31 Listing Removed — CRMLS
• 2015-08-31 Sold (MLS) $50,000 CRMLS
• 2015-08-26 Pending — CRMLS
• 2015-08-01 Listed $50,000 CRMLS

Property tax history

+7.4%/yr

Latest (2024): $71 · +0.0% YoY. Source: county tax records.