432 S Harbor Blvd #143 · Santa Ana, CA 92704

$124,900

2 bd · 2.0 ba · 720 sqft · Manufactured · 14 Days on market

Built 1977 Est $126k · at est. ↓ 11% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.9/15.0
• Schools +4.5/10.0
• Rent growth +3.0/5.0
• Livability +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

BRING YOUR BEST OFFERS! Welcome to Bali Hi, a 55+ Gated Community in the city of Santa Ana. Gated Community; amenities include a club house and two pools. Close to markets, church, temple, & shopping; LOCATION, LOCATION, LOCATION. Please Don't miss this perfect opportunity to get into a Gorgeous 2 Bedroom 2 Bathroom Manufactured Home in Desirable Bali Hi 55+/45 Mobile Home Park. This Incredible Home waiting for its new owner. (INCLUDES 1 YEAR HOME WARRANTY) Outside you can sit and relax on your Covered Patio and there is a Storage Shed and Covered Parking for one car because it has wheelchair ramp OR 2 cars if the ramp is removed. The Master Bedroom Suite also offers a ensuite. MAKE THIS YOUR HOME! Bali Hi is a Premium Senior (55+/45) Mobile Home Community located in Santa Ana close to shopping, restaurants, and activities. Enjoy the Sparkling Community Pool and Spa or Clubhouse to enjoy activities. SERIAL# 651200435

Key facts

• Fresh paint
• New flooring
• Updated lighting

Tags

• BRIGHT INTERIOR
• NEW FLOORING
• FRESH PAINT
• UPDATED LIGHTING
• CUSTOM DOUBLE PANE BAY WINDOWS
• APPROXIMATELY 4 YEAR OLD ROOF

Property features AI

Finance

• Other: Manager approval required for residency; Pets: contact manager
• Financial info: Monthly land lease of $1,350 (park); Rent includes: see remarks
• HOA & community: Senior community; Park-managed land lease

Exterior

• Parking: Located in Bali Hi park
• Utilities: Public sewer; District/Public water
• Home design: Single-story mobile home (12 x 60) with expando; Front entry
• Construction: Mobile home remains on lot; Living area per public records; Year built per public records
• Exterior features: Community pool; Close to clubhouse; Curbs and street lighting (community)

Interior

• Kitchen: Microwave; Water purifier; Freezer; Dishwasher
• Bathrooms: 2 full bathrooms
• Interior features: Front entry
• Laundry & utility: Washer included; Dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $125k.

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 $125k).
• Cap rate 17.1% 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 (+2.2%/yr); 78 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 30% of the median local income ($100k/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 $864 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 + 2.2% rent growth), your $35k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y 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.

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 $124,900

Questions for the listing agent

1. Built in 1977 — 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 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?
4. 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?
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: 2.02% ✓
• Cap rate: 17.14%
• Cash-on-cash: 38.74%
• DSCR: 2.72
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $126,000
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4117 W Mc Fadden #313	0.16mi	2/2.0	800 (+11%)	8mo	$140,000	$175	67

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 · 2.16% rent growth · sell at horizon

5-year hold

• IRR: 34.0%
• Equity multiple: 2.42×
• Total profit: $49,597
• Equity at exit: $18,623

10-year hold

• IRR: 40.4%
• Equity multiple: 4.64×
• Total profit: $127,414
• Equity at exit: $10,799

Cash invested: $34,972 (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 92704

• Rents YoY: 2.2%
• Active inventory: 78
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $2,522 high
• Mortgage (P&I): −$655
• Tax est. 1.5%: −$156 /mo · $1,874/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$530
• Net cashflow: $1,129

Break-even live

Break-even rent $1,093

Max offer price $124,900

Occupancy floor 50%

Sensitivity live

Price	-10% $1,215	-5% $1,172	+0% $1,129	+5% $1,086	+10% $1,043
Rent	-10% $930	-5% $1,029	+0% $1,129	+5% $1,229	+10% $1,328
Rate	-1.0pp $1,192	-0.5pp $1,161	base $1,129	+0.5pp $1,097	+1.0pp $1,064

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
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
901 S Harbor Blvd Unit 0307 Santa Ana, CA	1.0	1.0	516	$2,260	$4.38	45d	1	0.40mi
901 S Harbor Blvd Unit 340 Santa Ana, CA	1.0	1.0	516	$2,180	$4.22	26d	1	0.40mi
901 S Harbor Blvd Unit 0251 Santa Ana, CA	1.0	1.0	516	$2,185	$4.23	0d	1	0.40mi
901 S Harbor Blvd Unit 0133 Santa Ana, CA	1.0	1.0	516	$2,180	$4.22	0d	1	0.40mi
901 S Harbor Blvd Unit 0136 Santa Ana, CA	1.0	1.0	516	$2,055	$3.98	0d	1	0.40mi
901 S Harbor Blvd Apt 247 Santa Ana, CA	1.0	1.0	516	$2,215	$4.29	13d	1	0.40mi
3900 W 5th St Santa Ana, CA	1.0–2.0	1.0–2.0	780	$2,175	$2.79	14d	1	0.47mi
3200 W 5th St Santa Ana, CA	1.0–2.0	1.0–2.0	769	$3,350	$4.36	0d	9	0.71mi
2701 W McFadden Ave Unit 84 Santa Ana, CA	1.0	1.0	480	$2,360	$4.92	26d	1	1.03mi
2701 W McFadden Ave Unit 108 Santa Ana, CA	1.0	1.0	480	$2,295	$4.78	26d	1	1.04mi
2701 W McFadden Ave Unit 18 Santa Ana, CA	1.0	1.0	480	$2,385	$4.97	0d	1	1.05mi
2701 W McFadden Ave Santa Ana, CA	1.0	1.0	480	$2,228	$4.64	16d	3	1.05mi
2701 W McFadden Ave Apt 107 Santa Ana, CA	1.0	1.0	480	$2,095	$4.36	26d	1	1.06mi
16350 S Harbor Blvd Santa Ana, CA	1.0–2.0	1.0	800	$2,870	$3.59	45d	1	1.09mi
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	1.0	1.0	696	$2,508	$3.60	23d	1	1.24mi

Listing history 10 events

1. 2026-06-21
   days on market $124,900 Active 14 DOM
2. 2026-06-18
   days on market $124,900 Active 11 DOM
3. 2026-06-17
   days on market $124,900 Active 10 DOM
4. 2026-06-16
   days on market $124,900 Active 9 DOM
5. 2026-06-15
   days on market $124,900 Active 8 DOM
6. 2026-06-13
   days on market $124,900 Active 6 DOM
7. 2026-06-13
   days on market $124,900 Active 5 DOM
8. 2026-06-09
   days on market $124,900 Active 2 DOM
9. 2026-06-08
   remarks 699-char remark
10. 2026-06-08
    listed $124,900 Active 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 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: $30,262
• − Mortgage interest: −$6,996
• − Property taxes: −$1,874
• − Insurance: −$624
• − Repairs & maintenance: −$2,421
• − Management: −$2,421
• − Depreciation: −$3,633
• Taxable income: $12,292
• Est. tax owed @ 24.0%: −$2,950
• After-tax cash flow: $10,599/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): 82,120
• Household income: $99,777
• Rent vs Own: 50.9% rent · 49.1% own
• Severe rent burden: 2188.0

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 (71%)
• Race & ethnicity: Hispanic / Latino 71% Asian 18% Two or more races 17% White 9% Native American 2%
• Hispanic origin (detail): Mexican 65%
• Common ancestry: Italian 1%
• Foreign-born: 44% · Canada, Vietnam, China
• Languages at home: 22% English-only · Spanish 61% Vietnamese 13% Other Asian/Pacific 2%

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: ▼ -991.35%
• Current HPI: 449.8874
• Rent YoY: ▲ 2.16%
• 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

-10.8% since first listed

5 events — show timeline

• 2026-06-07 Listed $124,900 CRMLS
• 2024-03-29 Sold (MLS) $136,000 CRMLS
• 2024-03-02 Contingent — CRMLS
• 2023-01-31 Listed $140,000 CRMLS
• 2023-01-19 Coming Soon $140,000 CRMLS