2767 W 1st St #28 · Santa Ana, CA 92703

$199,900

2 bd · 2.0 ba · 895 sqft · Manufactured · 30 Days on market

Built 2026

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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 +29.1/30.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• Livability +2.8/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This brand new 2026 manufactured home features 2 bedrooms and 1 3/4 baths. The kitchen features hardwood cabinetry and a 3-door pantry. The upgraded stainless steel appliance package includes: 21 CF Side-by-Side refrigerator with ice and water in the door, self-cleaning gas range, microwave over the range, dishwasher, and garbage disposal. Countertops have been upgrade to quartz with a 6" quartz backsplash, quartz behind the range, and square edging. The main bathroom features a walk-in shower; guest bathroom has tub/shower combo with glass enclosure. Main bedroom has walk-in closet, guest bath features mirrored closet doors. Both bathrooms have quartz countertops and undermount rectan

Key facts

• Tub/shower combo
• Quartz countertops
• 3-door pantry

Tags

• HARDWOOD CABINETRY
• 3-DOOR PANTRY
• QUARTZ COUNTERTOPS
• WALK-IN SHOWER
• TUB/SHOWER COMBO
• WALK-IN CLOSET

Property features AI

Finance

• Other: Park name: Taggin Wagon Mobile Home Park
• Financial info: Rent includes: None
• HOA & community: Located in Taggin Wagon Mobile Home Park; Park requires manager approval; Pets allowed with size and number limits; breed restrictions may apply; Land lease of $1,950 monthly (park-provided)

Exterior

• Parking: Assigned uncovered parking; Street parking available; One uncovered parking space
• Security: Carbon monoxide detector(s); Smoke detector(s)
• Utilities: District/Public water; Public sewer; Natural gas connected; Electricity connected (standard); Sewer connected; Cable available; Telephone available in street; Water connected
• Home design: Single-story mobile home; Model: Canyon Lake; Turnkey condition; Mobile home remains on site; Mobile dimensions approximately 20' x 46'; Entry at level 1; Access via city streets
• Construction: Composition roof; Hardboard siding; Drywall interior walls; Cement board skirt; Pier jacks foundation; Built by builder (year built source: builder)
• Exterior features: Patio; Rain gutters; Community pool; No fencing; Corner lot; Paved road frontage; Street lighting in neighborhood

Interior

• Kitchen: Kitchen open to family room; Gas range; Self-cleaning oven; Microwave; Refrigerator; Garbage disposal; Ice maker; Water line to refrigerator; Self-closing cabinet doors and drawers; Quartz counters
• Bedrooms: All bedrooms located on the main level; Walk-in closet
• Flooring: Carpet; Laminate
• Bathrooms: One full bathroom; One three-quarter bathroom; Walk-in shower; Shower-in-tub; Exhaust fan(s); Quartz counters in bathroom(s)
• Heating & cooling: Forced air heating
• Interior features: Quartz counters throughout; Ceiling fan(s); Pantry; Recessed lighting; Open floor plan; Mirrored closet doors; Panel doors; Screens on windows; Carbon monoxide and smoke detectors; No interior steps / accessible with 2+ access exits; One-level living
• Laundry & utility: Community laundry available; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $200k.

Deal economics

• At list price, monthly cash flow is $693 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $197k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.5% 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.
• Santa Ana Unified (urban): math 23% / reading 37% proficiency, ranked #329 of 517 in CA (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 83% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 59 active listings in the ZIP; 25 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 ($84k/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 $1k of loan paydown is wiped out by about $6k 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 + 3.0% rent growth), your $56k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.

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 $196,901 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
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: 1.31% ✓
• Cap rate: 10.45%
• Cash-on-cash: 14.86%
• DSCR: 1.66
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $117,245
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
201 Capri #161	0.16mi	3/1.0 (+1)	860 (-4%)	13mo	$80,000	$93	66
2767 W 1st St #35	0.04mi	2/1.0	786 (-12%)	11mo	$65,000	$83	64
306 Sullivan St. Spc #103	0.33mi	2/2.0	800 (-11%)	5mo	$152,000	$190	63
201 Queen Ln #108	0.39mi	3/2.0 (+1)	800 (-11%)	10mo	$105,000	$131	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.4%
• Equity multiple: 1.21×
• Total profit: $11,795
• Equity at exit: $29,806

10-year hold

• IRR: 14.9%
• Equity multiple: 2.20×
• Total profit: $67,278
• Equity at exit: $17,284

Cash invested: $55,972 (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 92703

• Active inventory: 59
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $2,626 high
• Mortgage (P&I): −$1,048
• Tax est. 1.5%: −$250 /mo · $2,998/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$551
• Net cashflow: $693

Break-even live

Break-even rent $1,749

Max offer price $199,900

Occupancy floor 69%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3200 W 5th St Santa Ana, CA	1.0–2.0	1.0–2.0	769	$2,795	$3.63	2d	9	0.31mi
308 S Laurel St Unit C Santa Ana, CA	2.0	1.0	950	$2,650	$2.79	44d	1	0.51mi
1905 W Myrtle St Unit 3 Santa Ana, CA	2.0	1.0	750	$2,350	$3.13	44d	1	0.73mi
3900 W 5th St Santa Ana, CA	1.0–2.0	1.0–2.0	780	$2,175	$2.79	13d	1	0.87mi
4109 W 5th St Unit C3 Santa Ana, CA	2.0	2.0	921	$2,900	$3.15	44d	1	1.00mi
4109 W 5th St Unit C3 Santa Ana, CA	2.0	2.0	921	$2,500	$2.71	22d	1	1.00mi
1610 N King St Santa Ana, CA	1.0–2.0	1.0–2.0	808	$2,400	$2.97	44d	1	1.04mi
4201 W 5th St Santa Ana, CA	2.0	1.0	921	$2,800	$3.04	7d	1	1.05mi
4200 W 1st St Santa Ana, CA	1.0–2.0	1.0–2.0	714	$2,997	$4.19	2d	4	1.07mi
1806 N Fairview St Unit Q Santa Ana, CA	1.0	1.0	693	$2,526	$3.65	24d	1	1.07mi
1314 N Harbor Blvd Santa Ana, CA	2.0	2.0	884	$2,742	$3.10	13d	4	1.09mi
3630 Westminster Ave Santa Ana, CA	1.0	1.0	696	$2,508	$3.60	22d	1	1.11mi
3630 Westminster Ave Santa Ana, CA	2.0	2.0	997	$2,758	$2.77	44d	1	1.11mi
1500 N Harbor Blvd Santa Ana, CA	1.0–2.0	1.0–2.0	780	$2,575	$3.30	15d	1	1.18mi
2111 W 17th St Santa Ana, CA	1.0–2.0	1.0–2.0	756	$2,880	$3.81	12d	8	1.18mi
1329 W Civic Center Dr Santa Ana, CA	2.0	1.0	850	$2,295	$2.70	15d	1	1.25mi
1329 W Civic Center Dr Unit 09 Santa Ana, CA	2.0	1.0	850	$2,295	$2.70	24d	1	1.25mi
517 S Newhope St Santa Ana, CA	2.0	1.0	840	$2,125	$2.53	44d	1	1.25mi
1330 W 10th St Unit 2 Santa Ana, CA	3.0	2.0	993	$3,700	$3.73	13d	1	1.27mi
12562 Cardinal Ave Unit B Garden Grove, CA	3.0	1.0	1100	$2,800	$2.55	44d	1	1.35mi
2417 W Stanford St Santa Ana, CA	2.0	1.0	700	$3,200	$4.57	24d	1	1.37mi
623 N Bristol St Santa Ana, CA	1.0	1.0	708	$2,300	$3.25	24d	1	1.37mi
631 N Bristol St #66 Santa Ana, CA	1.0	1.0	630	$2,500	$3.97	44d	1	1.37mi
1114 W Santa Ana Blvd Santa Ana, CA	2.0	2.0	725	$2,700	$3.72	44d	4	1.47mi
1148 W Civic Center Dr Unit 12 Santa Ana, CA	2.0	1.0	850	$2,595	$3.05	24d	1	1.47mi

Listing history 15 events

1. 2026-06-18
   days on market $199,900 Active 30 DOM
2. 2026-06-17
   days on market $199,900 Active 29 DOM
3. 2026-06-16
   days on market $199,900 Active 28 DOM
4. 2026-06-15
   days on market $199,900 Active 27 DOM
5. 2026-06-13
   days on market $199,900 Active 25 DOM
6. 2026-06-13
   days on market $199,900 Active 24 DOM
7. 2026-06-09
   days on market $199,900 Active 21 DOM
8. 2026-06-08
   days on market $199,900 Active 20 DOM
9. 2026-06-07
   days on market $199,900 Active 19 DOM
10. 2026-06-04
    days on market $199,900 Active 16 DOM
11. 2026-06-03
    days on market $199,900 Active 15 DOM
12. 2026-06-02
    days on market $199,900 Active 14 DOM
13. 2026-06-01
    days on market $199,900 Active 13 DOM
14. 2026-05-31
    days on market $199,900 Active 12 DOM
15. 2026-05-19
    listed $199,900 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 · 0% 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: $31,513
• − Mortgage interest: −$11,198
• − Property taxes: −$2,998
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,521
• − Management: −$2,521
• − Depreciation: −$5,815
• Taxable income: $5,460
• Est. tax owed @ 24.0%: −$1,310
• After-tax cash flow: $7,007/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: Santa Ana Unified
• NCES district ID: 0635310
• Math proficiency: 23% ▼ -2.00%
• Reading proficiency: 37% ▲ 5.00%
• Median HH income: $55,752
• Composite: 26.7/100
• National rank: #7152
• State rank: #329 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): 62,447
• Household income: $84,437
• Rent vs Own: 49.0% rent · 51.0% own
• Severe rent burden: 1835.0

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 (77%)
• Race & ethnicity: Hispanic / Latino 77% Two or more races 19% Asian 16% White 5% Native American 2%
• Hispanic origin (detail): Mexican 72%
• Common ancestry: Iranian 1%
• Foreign-born: 47% · Canada, Vietnam, China
• Languages at home: 17% English-only · Spanish 68% Vietnamese 13% 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: ▼ -666.61%
• Current HPI: 458.1824
• Rent YoY: —
• 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

• 2026-05-19 Listed $199,900 CRMLS

Property tax history

-0.7%/yr

Latest (2025): $34 · +0.6% YoY. Source: county tax records.