736 Terrace Lake Dr #324 · Brea, CA 92821

$239,900

2 bd · 1.0 ba · 1,155 sqft · Manufactured · 80 Days on market

Built 1980 Est $192k · 25% 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 +25.9/30.0
• DSCR +8.7/10.0
• 1% rule +6.8/10.0
• Schools +5.1/10.0
• Livability +3.8/5.0
• 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

Senior Park Community 55+. .Welcome Home! Step inside this beautiful 2br. , 1 & ½ bath home featuring an open concept kitchen and dining area, tastefully updated with beautiful quartz counter tops, newer appliances and plenty of cabinets for storage. Just off the kitchen is a private patio, perfect for entertaining family and friends. The living room features vaulted ceilings and skylight allowing for natural light. The large master bedroom features new carpet, attached bath with, a soaking tub and walk in shower and updated aqua guard flooring. Nice size quest bedroom with a wardrobe closet. Spacious laundry room with storage cabinets and ½ bath. Extras include; Newer H

Key facts

• Open concept kitchen
• Soaking tub
• Private patio

Tags

• OPEN CONCEPT KITCHEN
• PRIVATE PATIO
• VAULTED CEILINGS
• SKYLIGHT
• SOAKING TUB
• WALK IN SHOWER

Property features AI

Finance

• Other: Manager approval may be required; Pets allowed
• Financial info: Monthly land lease (park) listed
• HOA & community: Senior community; Park name: Lake Park Brea; Community features include curbs, street lighting, storm drains, sidewalks, lake and fishing

Exterior

• Parking: Concrete driveway; Attached carport; Additional parking spaces
• Security: Smoke detector; Resident manager
• Utilities: Public/district water; Public sewer; Natural gas connected; Electricity connected; Telephone available in street; Cable available / cable not available (listed both); Sewer connected; Water connected
• Home design: Mobile home (Prestige model) remains on site; Double wide body type; Single-story (one level); Front door entry; Updated/remodeled condition
• Construction: Hardboard exterior; Pillar/post/pier foundation; Year built: source listed as Other
• Exterior features: Composition/shingle roof; Rain gutters; Concrete patio; Shed (1); Wood and brick skirt; Block wall and wrought iron fencing in excellent condition; Sprinklers in front; Landscaped grounds; Greenbelt; Community fishing and lake access

Interior

• Kitchen: Garbage disposal; Microwave; Gas range; Dishwasher; Quartz counters; Remodeled kitchen; Self-closing cabinet doors; Gas water heater
• Bedrooms: Primary suite
• Flooring: Carpet; Wood; Laminate
• Bathrooms: One full bathroom; Walk-in shower; Separate tub and shower; Remodeled bathroom
• Heating & cooling: Central cooling; Central furnace heating
• Interior features: Wood product walls; Stone counters; Cathedral/vaulted ceilings; Double pane windows; Drapes/curtains; Skylights; Blinds; Window screens; Smoke detector; Resident manager on site; In-ground community heated spa
• Laundry & utility: Inside laundry; Washer hookup; Gas and electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $240k.

Deal economics

• At list price, monthly cash flow is $586 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Recommended offer: $226k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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.
• Fullerton Joint Union High (suburban): math 51% / reading 66% proficiency, ranked #82 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); 66 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals leasing fast (median 0d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 80 days — a 6% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 14y ago; this cycle's ask has dropped $244.66M (100%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $225,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.18% ✓
• Cap rate: 9.22%
• Cash-on-cash: 10.47%
• DSCR: 1.47
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $191,730
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1414 W Central Ave #98	0.09mi	3/2.0 (+1)	1,140 (-1%)	0mo	$245,500	$215	84
1241 Glen Lake Ave #277	0.07mi	2/2.0	1,200 (+4%)	9mo	$190,000	$158	78
751 Village Lake Mall	0.05mi	1/1.5 (-1)	1,050 (-9%)	1mo	$189,000	$180	75
1414 W Central Ave #81	0.09mi	3/2.0 (+1)	1,248 (+8%)	0mo	$289,000	$232	73
1231 Sky Lake Ave #304	0.02mi	2/2.0	1,200 (+4%)	22mo	$205,000	$171	71
755 Village Lake Mall #337	0.05mi	2/2.0	1,296 (+12%)	6mo	$150,000	$116	68
1261 Glen Lake Ave #279	0.07mi	2/2.0	1,296 (+12%)	6mo	$149,000	$115	67
726 Knoll Lake Dr #264	0.08mi	2/2.0	1,296 (+12%)	8mo	$210,000	$162	66
1341 Harbor Lake Ave #24	0.15mi	2/2.0	1,296 (+12%)	5mo	$215,000	$166	64
2240 Lake Glen Dr	0.42mi	2/2.0	1,192 (+3%)	12mo	$155,000	$130	61
2240 Lake Glen Dr #56	0.42mi	2/2.0	1,248 (+8%)	7mo	$338,000	$271	57
771 Terrace Lk #284	0.05mi	2/2.0	1,296 (+12%)	23mo	$170,000	$131	54

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: -2.0%
• Equity multiple: 0.93×
• Total profit: $-4,958
• Equity at exit: $35,770

10-year hold

• IRR: 6.4%
• Equity multiple: 1.45×
• Total profit: $30,117
• Equity at exit: $20,742

Cash invested: $67,172 (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: 66
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,840 high
• Mortgage (P&I): −$1,258
• Tax est. 1.5%: −$300 /mo · $3,598/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$596
• Net cashflow: $586

Break-even live

Break-even rent $2,099

Max offer price $239,900

Occupancy floor 74%

Sensitivity live

Price	-10% $752	-5% $669	+0% $586	+5% $503	+10% $420
Rent	-10% $362	-5% $474	+0% $586	+5% $698	+10% $810
Rate	-1.0pp $707	-0.5pp $647	base $586	+0.5pp $524	+1.0pp $461

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1741 E La Habra Blvd La Habra, CA	2.0	1.0	800	$2,362	$2.95	0d	1	0.59mi
160 N Fonda St La Habra, CA	2.0	2.0	1000	$2,500	$2.50	0d	1	0.69mi
304 S Fonda St Unit 3 La Habra, CA	2.0	2.0	800	$2,600	$3.25	0d	1	0.69mi
160 N Fonda St Unit 2 La Habra, CA	2.0	1.5	1000	$2,500	$2.50	0d	1	0.69mi
209 S Fonda St La Habra, CA	2.0	2.0	1200	$3,500	$2.92	0d	1	0.71mi
141 N Fonda St Unit 1 La Habra, CA	3.0	2.5	1300	$3,400	$2.62	11d	1	0.72mi
1500 Eastpark Dr Unit 3 La Habra, CA	2.0	1.5	1286	$2,500	$1.94	0d	1	0.74mi
160 Greentree Ln La Habra, CA	2.0	1.5	1050	$2,800	$2.67	0d	1	0.80mi
730 Brooklyn Dr Brea, CA	2.0	2.5	1210	$3,400	$2.81	25d	1	0.94mi
350 W Central Ave Brea, CA	1.0–3.0	1.0–2.5	1024	$3,162	$3.09	0d	5	0.94mi
825 Tamarack Ave Brea, CA	1.0–2.0	1.0–2.0	837	$2,640	$3.15	0d	6	0.95mi
600 N Harbor Blvd La Habra, CA	2.0	1.0–1.5	837	$2,855	$3.41	0d	2	0.97mi
650 Tamarack Ave Brea, CA	2.0	1.0–2.0	750	$2,850	$3.80	0d	21	1.03mi
250 W Central Ave Brea, CA	2.0	2.0	1100	$2,930	$2.66	18d	2	1.09mi
171 S Valencia St Unit 3 La Habra, CA	2.0	2.0	1000	$2,450	$2.45	0d	1	1.09mi
640 Ward St Unit 2 La Habra, CA	2.0	1.0	950	$2,195	$2.31	18d	1	1.11mi
319 W Lambert Rd Brea, CA	2.0	2.0	1120	$3,333	$2.98	5d	9	1.12mi
1001 N Harbor Blvd La Habra, CA	1.0–2.0	1.0–1.5	880	$2,750	$3.12	0d	2	1.20mi
260 W Birch St #202 Brea, CA	1.0	1.0	727	$2,332	$3.21	25d	1	1.23mi
703 E Stearns Ave Unit 707-C La Habra, CA	2.0	1.0	950	$2,695	$2.84	0d	1	1.24mi
2598 Associated Rd Fullerton, CA	1.0	1.0	896	$3,215	$3.59	4d	1	1.30mi
2598 Associated Rd Fullerton, CA	1.0	1.0	885	$3,280	$3.71	16d	1	1.30mi
2598 Associated Rd Fullerton, CA	2.0	2.0	988	$3,535	$3.58	21d	1	1.30mi
2598 Associated Rd Fullerton, CA	1.0	1.0	885	$3,030	$3.42	18d	1	1.30mi
215 S Brea Blvd Apt 314 Brea, CA	2.0	1.0	750	$2,460	$3.28	25d	1	1.32mi
137 N Orange Ave Brea, CA	2.0	2.0	975	$2,585	$2.65	45d	1	1.34mi
1301 Las Riendas Dr La Habra, CA	1.0–2.0	1.0–1.5	900	$2,970	$3.30	0d	1	1.34mi
334 S Walnut Ave Unit F Brea, CA	2.0	1.5	904	$2,995	$3.31	18d	1	1.37mi
841 N Stonewood St Apt D La Habra, CA	2.0	1.5	1100	$2,795	$2.54	0d	1	1.37mi
108 E Date St Unit 108 Brea, CA	2.0	1.0	950	$3,095	$3.26	45d	1	1.47mi

Listing history 22 events

1. 2026-06-21
   days on market $239,900 Active 80 DOM
2. 2026-06-18
   days on market $239,900 Active 77 DOM
3. 2026-06-17
   days on market $239,900 Active 76 DOM
4. 2026-06-16
   days on market $239,900 Active 75 DOM
5. 2026-06-15
   days on market $239,900 Active 74 DOM
6. 2026-06-13
   days on market $239,900 Active 72 DOM
7. 2026-06-09
   days on market $239,900 Active 68 DOM
8. 2026-06-08
   days on market $239,900 Active 67 DOM
9. 2026-06-07
   pricedays on market $239,900 Active 66 DOM
10. 2026-06-04
    days on market $244,900 Active 63 DOM
11. 2026-06-03
    days on market $244,900 Active 62 DOM
12. 2026-06-02
    days on market $244,900 Active 61 DOM
13. 2026-06-01
    days on market $244,900 Active 60 DOM
14. 2026-05-31
    days on market $244,900 Active 59 DOM
15. 2026-04-06
    price $244,900
16. 2026-04-02
    listed $244,900,733 Active
17. 2012-05-15
    historical
18. 2012-04-17
    price $14,900
19. 2012-04-12
    status Active
20. 2012-04-11
    historical Hold
21. 2012-03-17
    price $19,900
22. 2012-02-14
    listed $23,900 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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥96°F today · 23 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: $34,083
• − Mortgage interest: −$13,438
• − Property taxes: −$3,598
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,727
• − Management: −$2,727
• − Depreciation: −$6,979
• Taxable income: $3,415
• Est. tax owed @ 24.0%: −$820
• After-tax cash flow: $6,212/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: Fullerton Joint Union High
• NCES district ID: 0614760
• Math proficiency: 51% ▲ 7.00%
• Reading proficiency: 66% ▲ 1.00%
• Median HH income: $66,666
• Composite: 51.37/100
• National rank: #1735
• State rank: #82 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

+924.7% since first listed

8 events — show timeline

• 2026-04-06 Price Changed $244,900 CRMLS
• 2026-04-02 Listed $244,900,733 CRMLS
• 2012-05-15 Listing Removed — CRMLS
• 2012-04-17 Price Changed $14,900 CRMLS
• 2012-04-12 Relisted — CRMLS
• 2012-04-11 Delisted — CRMLS
• 2012-03-17 Price Changed $19,900 CRMLS
• 2012-02-14 Listed $23,900 CRMLS