1051 Site #251 · Brea, CA 92821

$199,900

3 bd · 2.0 ba · 1,300 sqft · Manufactured · 21 Days on market

Built 1983 32 ac lot $154/sqft · at area comps Est $205k · at est. ↓ 7% 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 +8.5/15.0
• Schools +5.1/10.0
• Livability +3.8/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming 3-bedroom, 2-bath home offers approximately 1,300 square feet of comfortable living space designed for both relaxation and everyday convenience. Step inside to an inviting open layout that seamlessly connects the bright living room, dining area, and well-equipped kitchen, creating a perfect setting for gatherings or quiet evenings at home. The spacious primary suite features its own recently remodeled private bath, while the additional bedrooms offer versatility for guests, a home office, or a growing household. Large windows fill the interior with natural light, enhancing the home’s warm and welcoming feel. Outside, you’ll find room to unwind, garden, or simply enjoy the peaceful surroundings. Located in a well-maintained community close to shopping, dining, parks, and major conveniences, this residence delivers comfort, value, and an easy Southern California lifestyle.

Key facts

• 32.47 acre lot
• Built 1983
• Listed 21 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $200k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/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 13.9% vs local median 2.1% in Brea — 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 76/100 on livability (#100 in CA, #3,570 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, employment A+, schools A-; Watch: health & safety C-, cost of living F.
• Brea-Olinda Unified (suburban): math 48% / reading 65% proficiency, ranked #84 of 517 in CA (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.8%/yr); 63 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); 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 ($124k/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 + 1.8% rent growth), your $56k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→22/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 A-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?
3. 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.
4. 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.
5. 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: 1.67% ✓
• Cap rate: 13.87%
• Cash-on-cash: 27.08%
• DSCR: 2.20
• GRM: 5.0

CMA / ARV

• ARV (median comp): $204,593
• List price: $199,900
• Delta: 2.15%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1051 Site Dr #25	0.00mi	3/2.0	1,344 (+3%)	0mo	$185,000	$138	94
1051 Site Dr #203	0.00mi	3/2.0	1,344 (+3%)	10mo	$240,000	$179	86
1051 Site Dr #89	0.00mi	3/2.0	1,400 (+8%)	4mo	$300,000	$214	84
1051 Site #197	0.00mi	3/2.0	1,120 (-14%)	1mo	$179,000	$160	76
1051 Site Dr #169	0.00mi	2/2.0 (-1)	1,368 (+5%)	18mo	$109,888	$80	71
1051 Site Dr #37	0.00mi	3/2.0	1,440 (+11%)	15mo	$160,000	$111	70
1051 Site Dr #154	0.00mi	2/2.0 (-1)	1,440 (+11%)	10mo	$210,000	$146	69
1051 Site Dr #133	0.00mi	2/2.0 (-1)	1,440 (+11%)	11mo	$157,000	$109	68
1051 Site Dr #142	0.00mi	2/2.0 (-1)	1,440 (+11%)	17mo	$179,000	$124	62
1261 Glen Lake Ave #279	0.71mi	2/2.0 (-1)	1,296 (-0%)	6mo	$149,000	$115	56
726 Knoll Lake Dr #264	0.71mi	2/2.0 (-1)	1,296 (-0%)	8mo	$210,000	$162	55
1241 Glen Lake Ave #277	0.71mi	2/2.0 (-1)	1,200 (-8%)	9mo	$190,000	$158	41

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 · 1.78% rent growth · sell at horizon

5-year hold

• IRR: 19.6%
• Equity multiple: 1.79×
• Total profit: $44,034
• Equity at exit: $29,806

10-year hold

• IRR: 27.1%
• Equity multiple: 3.25×
• Total profit: $125,868
• 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 92821

• Rents YoY: 1.8%
• Active inventory: 63
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $3,347 high
• Mortgage (P&I): −$1,048
• Tax est. 1.5%: −$250 /mo · $2,998/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$703
• Net cashflow: $1,263

Break-even live

Break-even rent $1,749

Max offer price $199,900

Occupancy floor 57%

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 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
825 Tamarack Ave Brea, CA	1.0–2.0	1.0–2.0	837	$2,640	$3.15	1d	5	0.32mi
350 W Central Ave Brea, CA	1.0–3.0	1.0–2.5	1024	$4,210	$4.11	1d	8	0.42mi
730 Brooklyn Dr Brea, CA	2.0	2.5	1210	$3,400	$2.81	24d	1	0.45mi
250 W Central Ave Brea, CA	2.0	2.0	1100	$2,930	$2.66	16d	2	0.52mi
650 Tamarack Ave Brea, CA	2.0	1.0–2.0	750	$2,850	$3.80	1d	18	0.55mi
655 N Brea Blvd Brea, CA	1.0–2.0	1.0–2.0	830	$2,745	$3.31	1d	1	0.68mi
319 W Lambert Rd Brea, CA	2.0	2.0	1120	$3,333	$2.98	4d	9	0.78mi
308 Mountain Ct Brea, CA	3.0	2.0	1730	$3,550	$2.05	43d	1	0.95mi
1511 Kinsler Ct Brea, CA	3.0	2.5	1605	$4,095	$2.55	15d	1	0.98mi
369 Meadow Ct Brea, CA	3.0	2.0	1281	$3,450	$2.69	43d	1	1.11mi
137 N Orange Ave Brea, CA	2.0	2.0	975	$2,585	$2.65	43d	1	1.15mi
1913 Lotus Pl Brea, CA	4.0	2.0	1627	$4,100	$2.52	1d	1	1.30mi
160 N Fonda St La Habra, CA	2.0	2.0	1000	$2,500	$2.50	1d	1	1.39mi
160 N Fonda St Unit 2 La Habra, CA	2.0	1.5	1000	$2,500	$2.50	1d	1	1.39mi
334 S Walnut Ave Unit F Brea, CA	2.0	1.5	904	$2,995	$3.31	16d	1	1.41mi
141 N Fonda St Unit 1 La Habra, CA	3.0	2.5	1300	$3,400	$2.62	10d	1	1.42mi
201 Laurel Ave #7 Brea, CA	2.0	2.5	1218	$3,450	$2.83	43d	1	1.43mi
1500 Eastpark Dr Unit 3 La Habra, CA	2.0	1.5	1286	$2,500	$1.94	1d	1	1.44mi
209 S Fonda St La Habra, CA	2.0	2.0	1200	$3,500	$2.92	1d	1	1.45mi
331 Pomelo Ave Brea, CA	3.0	2.0	1538	$4,200	$2.73	43d	1	1.46mi
242 S Redwood Ave Unit C Brea, CA	3.0	2.5	1590	$3,995	$2.51	7d	1	1.48mi
664 Olive Ave Brea, CA	4.0	2.0	1472	$4,500	$3.06	6d	1	1.49mi
628 E Birch St Unit D Brea, CA	2.0	1.5	1104	$2,850	$2.58	13d	1	1.49mi
108 E Date St Unit 108 Brea, CA	2.0	1.0	950	$3,095	$3.26	43d	1	1.50mi

Listing history 17 events

1. 2026-06-18
   days on market $199,900 Active 21 DOM
2. 2026-06-17
   days on market $199,900 Active 20 DOM
3. 2026-06-16
   days on market $199,900 Active 19 DOM
4. 2026-06-15
   days on market $199,900 Active 18 DOM
5. 2026-06-13
   days on market $199,900 Active 16 DOM
6. 2026-06-13
   days on market $199,900 Active 15 DOM
7. 2026-06-09
   days on market $199,900 Active 12 DOM
8. 2026-06-08
   days on market $199,900 Active 11 DOM
9. 2026-06-07
   days on market $199,900 Active 10 DOM
10. 2026-06-04
    days on market $199,900 Active 7 DOM
11. 2026-06-03
    days on market $199,900 Active 6 DOM
12. 2026-06-02
    days on market $199,900 Active 5 DOM
13. 2026-06-01
    days on market $199,900 Active 4 DOM
14. 2026-05-31
    days on market $199,900 Active 3 DOM
15. 2026-04-15
    price $209,000 909-char remark

    Show marketing remark (909 chars)

    This charming 3-bedroom, 2-bath home offers approximately 1,300 square feet of comfortable living space designed for both relaxation and everyday convenience. Step inside to an inviting open layout that seamlessly connects the bright living room, dining area, and well-equipped kitchen, creating a perfect setting for gatherings or quiet evenings at home. The spacious primary suite features its own recently remodeled private bath, while the additional bedrooms offer versatility for guests, a home office, or a growing household. Large windows fill the interior with natural light, enhancing the home’s warm and welcoming feel. Outside, you’ll find room to unwind, garden, or simply enjoy the peaceful surroundings. Located in a well-maintained community close to shopping, dining, parks, and major conveniences, this residence delivers comfort, value, and an easy Southern California lifestyle.

16. 2026-02-17
    price $216,000 909-char remark

    Show marketing remark (909 chars)

    This charming 3-bedroom, 2-bath home offers approximately 1,300 square feet of comfortable living space designed for both relaxation and everyday convenience. Step inside to an inviting open layout that seamlessly connects the bright living room, dining area, and well-equipped kitchen, creating a perfect setting for gatherings or quiet evenings at home. The spacious primary suite features its own recently remodeled private bath, while the additional bedrooms offer versatility for guests, a home office, or a growing household. Large windows fill the interior with natural light, enhancing the home’s warm and welcoming feel. Outside, you’ll find room to unwind, garden, or simply enjoy the peaceful surroundings. Located in a well-maintained community close to shopping, dining, parks, and major conveniences, this residence delivers comfort, value, and an easy Southern California lifestyle.

17. 2025-12-26
    listed $225,000 Active 909-char remark

    Show marketing remark (909 chars)

    This charming 3-bedroom, 2-bath home offers approximately 1,300 square feet of comfortable living space designed for both relaxation and everyday convenience. Step inside to an inviting open layout that seamlessly connects the bright living room, dining area, and well-equipped kitchen, creating a perfect setting for gatherings or quiet evenings at home. The spacious primary suite features its own recently remodeled private bath, while the additional bedrooms offer versatility for guests, a home office, or a growing household. Large windows fill the interior with natural light, enhancing the home’s warm and welcoming feel. Outside, you’ll find room to unwind, garden, or simply enjoy the peaceful surroundings. Located in a well-maintained community close to shopping, dining, parks, and major conveniences, this residence delivers comfort, value, and an easy Southern California lifestyle.

ⓘ 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 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥96°F today · 22 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,168
• − Mortgage interest: −$11,198
• − Property taxes: −$2,998
• − Insurance: −$1,000
• − Repairs & maintenance: −$3,213
• − Management: −$3,213
• − Depreciation: −$5,815
• Taxable income: $12,730
• Est. tax owed @ 24.0%: −$3,055
• After-tax cash flow: $12,100/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: Brea-Olinda Unified
• NCES district ID: 0605880
• Math proficiency: 48% ▼ -14.00%
• Reading proficiency: 65% ▼ -2.00%
• Median HH income: $83,131
• Composite: 51.28/100
• National rank: #1748
• State rank: #84 of 517 in CA

Livability — Brea

• Score: 76/100
• State rank: #100
• US rank: #3570

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Brea, CA
• County: Orange County · 3,096,323 people
• City population: 41,623
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 41,623
• Household income: $123,629
• Rent vs Own: 42.5% rent · 57.5% own
• Severe rent burden: 1655.0

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 0.69)
• Race & ethnicity: White 38% Hispanic / Latino 32% Asian 24% Two or more races 14% Black 1%
• Hispanic origin (detail): Mexican 27%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 23% · Canada, South Korea, China
• Languages at home: 66% English-only · Spanish 16% Korean 6% Chinese 4%

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: ▼ -826.78%
• Current HPI: 374.8663
• Rent YoY: ▲ 1.78%
• 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

3 events — show timeline

• 2026-04-15 Price Changed $209,000 CRMLS
• 2026-02-17 Price Changed $216,000 CRMLS
• 2025-12-26 Listed $225,000 CRMLS

Property tax history

-5.1%/yr

Latest (2025): $86 · +3.2% YoY. Source: county tax records.