928 AVENIDA MAJORCA Unit B · Laguna Woods, CA 92637

$550,000

2 bd · 2.0 ba · 1,009 sqft · Condo · 30 Days on market

Built 1967 $545/sqft · 29% below area Est $779k · 29% under $762/mo HOA · 26% of rent

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Appreciation +7.9/10.0
• Schools +5.6/10.0
• Rent growth +4.2/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Cash flow +1.3/30.0
• 1% rule +0.4/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Welcome to this inviting one-story Co-Op nestled in one of the most desirable areas of Laguna Woods. From the moment you step inside, you'll be greeted by a spacious and welcoming living room, perfect for relaxing or entertaining. The open layout seamlessly connects the living space to a bright and airy sunroom, to enjoy peaceful serene views that offer a sense of tranquility and privacy. The kitchen and Cabinetry have been tastefully updated providing both functionality and style. This unit has exceptional outdoor spaces. One of the standout features of this home is its access to beautifully maintained walkways and greenbelts. Stroll along the picturesque creek-walk, surrounded by lush landscaping and the gentle sounds of nature. These outdoor amenities are ideal for morning walks, afternoon relaxation, or simply appreciating the peaceful atmosphere Laguna Woods has to offer. This unique Co-Op offers a combination of spacious living, modern upgrades, and tranquil outdoor spaces that truly set it apart. The quiet, serene views and beautiful surroundings must be experienced to be fully appreciated. Schedule a visit today and discover all the wonderful features this home has to offer.

Key facts

• Bright airy sunroom
• Updated cabinetry
• Lush landscaping

Tags

• BRIGHT AIRY SUNROOM
• UPDATED CABINETRY
• EXCEPTIONAL OUTDOOR SPACES
• PICTURESQUE CREEK WALK
• LUSH LANDSCAPING
• TRANQUIL OUTDOOR SPACES

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $550k.

Deal economics

• At list price, monthly cash flow is $-2k ($-26k/yr) — negative.
• To cash-flow at today's rent, offer at most $231k (58.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $299k (45.7% below list).
• Recommended offer: $231k (58.0% below list) — sets the bar for cash-flow.
• Cap rate 1.5% vs local median 2.4% in Laguna Woods — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 72/100 on livability (#200 in CA) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+; Watch: schools C-, amenities D+, cost of living F.
• Saddleback Valley Unified (suburban): math 51% / reading 73% proficiency, ranked #67 of 517 in CA (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+6.8%/yr); 191 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 6,974 units permitted in Orange County in 2024 (3,839 in 5+ unit buildings).
• At $2,986/mo this rent would consume 60% of the median local household income ($59k/yr) (locally 1572% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $36k of equity ($4k loan paydown + $32k appreciation (5.9% local appreciation)).
• Orange County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$58k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($542k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 25y 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 $195k; list at $550k implies a 182% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 26% of rent.

Recommended offer $231,037 (58.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.54% ✗
• Cap rate: 1.48%
• Cash-on-cash: -17.18%
• DSCR: 0.24
• GRM: 15.4

CMA / ARV

• ARV (median comp): $778,828
• List price: $550,000
• Delta: -29.38%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

5.88% appreciation · 6.79% rent growth · sell at horizon

5-year hold

• IRR: 2.5%
• Equity multiple: 1.17×
• Total profit: $26,949
• Equity at exit: $341,722

10-year hold

• IRR: 6.6%
• Equity multiple: 2.42×
• Total profit: $219,199
• Equity at exit: $616,248

Cash invested: $154,000 (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 92637

• Home prices YoY: 3.4%
• Rents YoY: 6.8%
• Active inventory: 191
• Price-to-rent: 15.4×

Monthly cashflow live

• Estimated rent: $2,986 high
• Mortgage (P&I): −$2,884
• Tax est. 1.5%: −$688 /mo · $8,250/yr
• Insurance: −$229
• HOA: −$762
• Vacancy / Maint / Mgmt: −$627
• Net cashflow: $-2,204

Break-even live

Break-even rent $5,776

Max offer price $231,037

Occupancy floor —

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: $137,500
• Closing costs: $16,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
737 Avenida Majorca Unit B Laguna Woods, CA	2.0	1.0	935	$3,200	$3.42	24d	1	0.13mi
897 Ronda Sevilla Laguna Hills, CA	2.0	2.0	1009	$3,200	$3.17	43d	1	0.14mi
897 Ronda Sevilla Unit O Laguna Hills, CA	2.0	2.0	1009	$3,000	$2.97	43d	1	0.14mi
599 Avenida Majorca Unit A Laguna Woods, CA	2.0	1.0	950	$3,200	$3.37	43d	1	0.19mi
606 Avenida Sevilla Unit C Laguna Woods, CA	2.0	2.0	1057	$2,900	$2.74	43d	1	0.21mi
840 Ronda Sevilla Unit B Laguna Woods, CA	1.0	1.0	1010	$2,400	$2.38	43d	1	0.22mi
842 Ronda Sevilla Unit B Laguna Hills, CA	2.0	2.0	1500	$3,190	$2.13	24d	1	0.23mi
715 Avenida Majorca Unit O Laguna Woods, CA	2.0	2.0	1040	$2,750	$2.64	4d	1	0.25mi
852 Ronda Mendoza Unit O Laguna Woods, CA	2.0	2.0	1009	$3,000	$2.97	43d	1	0.25mi
676 Via Alhambra Unit D Laguna Woods, CA	2.0	2.0	1057	$2,595	$2.46	24d	1	0.30mi
754 Avenida Majorca Laguna Woods, CA	2.0	2.0	953	$3,350	$3.52	43d	1	0.33mi
25521 Indian Hill Ln Unit C Laguna Hills, CA	2.0	2.0	1089	$2,950	$2.71	43d	1	0.35mi
661 Avenida Sevilla Unit B Laguna Woods, CA	2.0	2.0	1009	$2,850	$2.82	7d	1	0.37mi
25541 Indian Hill Ln Unit X Laguna Hills, CA	2.0	2.0	1029	$2,900	$2.82	43d	1	0.37mi
107 Via Estrada Laguna Woods, CA	2.0	2.0	1040	$2,700	$2.60	24d	1	0.45mi
221 Avenida Majorca Unit D Laguna Woods, CA	2.0	2.0	1438	$3,200	$2.23	24d	1	0.47mi
224 Avenida Majorca Unit B Laguna Woods, CA	2.0	2.0	1009	$2,600	$2.58	43d	1	0.48mi
92 Calle Aragon Unit R Laguna Woods, CA	2.0	2.0	1009	$2,650	$2.63	18d	1	0.50mi
480 Calle Cadiz Unit B Laguna Woods, CA	2.0	2.0	1324	$3,100	$2.34	43d	1	0.50mi
494 Calle Cadiz Laguna Woods, CA	2.0	2.0	1000	$3,900	$3.90	43d	1	0.50mi
205 Avenida Majorca Unit A Laguna Woods, CA	2.0	2.0	1278	$3,600	$2.82	43d	1	0.53mi
170 Avenida Majorca Unit D Laguna Woods, CA	2.0	1.0	1000	$2,500	$2.50	24d	1	0.55mi
477 Calle Cadiz Unit A Laguna Woods, CA	1.0	1.0	770	$2,500	$3.25	24d	1	0.56mi
169 Avenida Majorca Unit B Laguna Woods, CA	3.0	1.0	1200	$1,400	$1.17	43d	1	0.58mi
479 Calle Cadiz Unit B Laguna Woods, CA	2.0	2.0	1050	$3,300	$3.14	17d	1	0.58mi
25211 Stockport St Laguna Hills, CA	1.0–2.0	1.0–2.0	815	$3,240	$3.98	3d	3	0.59mi
25212 Stockport St Laguna Hills, CA	1.0–2.0	1.0–2.0	849	$3,155	$3.71	5d	4	0.61mi
158 Avenida Majorca Unit D Laguna Woods, CA	2.0	1.0	1300	$3,200	$2.46	43d	1	0.62mi
33 Via Abruzzi Aliso Viejo, CA	2.0	2.0	1161	$3,700	$3.19	24d	1	0.66mi
74 Calle Aragon Unit A Laguna Woods, CA	2.0	1.0	950	$2,700	$2.84	24d	1	0.67mi
132 Avenida Majorca Unit B Laguna Woods, CA	2.0	1.0	995	$2,400	$2.41	6d	1	0.67mi
57 Calle Cadiz Laguna Woods, CA	2.0	2.0	1040	$2,800	$2.69	43d	1	0.68mi
57 Calle Cadiz Unit N Laguna Woods, CA	2.0	2.0	1040	$2,900	$2.79	3d	1	0.68mi
46 Calle Aragon Unit R Laguna Woods, CA	2.0	2.0	1040	$2,800	$2.69	18d	1	0.70mi
23491 Los Adornos Aliso Viejo, CA	3.0	2.0	1250	$3,600	$2.88	43d	1	0.70mi
11 Elmbrook #55 Aliso Viejo, CA	2.0	2.0	1129	$3,490	$3.09	43d	1	0.73mi
24555 Los Alisos Blvd Laguna Hills, CA	1.0	1.0	739	$2,515	$3.40	7d	1	0.73mi
24555 Los Alisos Blvd Laguna Hills, CA	2.0	2.0	1007	$3,356	$3.33	43d	1	0.73mi
24555 Los Alisos Blvd Laguna Hills, CA	2.0	2.0	1014	$3,250	$3.21	15d	1	0.73mi
59 Calle Cadiz Unit B Laguna Woods, CA	2.0	2.0	1070	$3,500	$3.27	43d	1	0.74mi

HOA detail condo

• Monthly dues: $762 · $9,144/yr
• Likely covers: landscaping
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 33 events

1. 2026-06-18
   days on market $550,000 Active 30 DOM
2. 2026-06-17
   days on market $550,000 Active 29 DOM
3. 2026-06-16
   days on market $550,000 Active 28 DOM
4. 2026-06-15
   days on market $550,000 Active 27 DOM
5. 2026-06-13
   days on market $550,000 Active 25 DOM
6. 2026-06-13
   days on market $550,000 Active 24 DOM
7. 2026-06-09
   days on market $550,000 Active 21 DOM
8. 2026-06-08
   days on market $550,000 Active 20 DOM
9. 2026-06-07
   days on market $550,000 Active 19 DOM
10. 2026-06-04
    days on market $550,000 Active 16 DOM
11. 2026-06-03
    days on market $550,000 Active 15 DOM
12. 2026-06-02
    days on market $550,000 Active 14 DOM
13. 2026-06-01
    days on market $550,000 Active 13 DOM
14. 2026-05-31
    days on market $550,000 Active 12 DOM
15. 2026-05-19
    listed $550,000 Active 1201-char remark

    Show marketing remark (1201 chars)

    Welcome to this inviting one-story Co-Op nestled in one of the most desirable areas of Laguna Woods. From the moment you step inside, you'll be greeted by a spacious and welcoming living room, perfect for relaxing or entertaining. The open layout seamlessly connects the living space to a bright and airy sunroom, to enjoy peaceful serene views that offer a sense of tranquility and privacy. The kitchen and Cabinetry have been tastefully updated providing both functionality and style. This unit has exceptional outdoor spaces. One of the standout features of this home is its access to beautifully maintained walkways and greenbelts. Stroll along the picturesque creek-walk, surrounded by lush landscaping and the gentle sounds of nature. These outdoor amenities are ideal for morning walks, afternoon relaxation, or simply appreciating the peaceful atmosphere Laguna Woods has to offer. This unique Co-Op offers a combination of spacious living, modern upgrades, and tranquil outdoor spaces that truly set it apart. The quiet, serene views and beautiful surroundings must be experienced to be fully appreciated. Schedule a visit today and discover all the wonderful features this home has to offer.

16. 2026-05-11
    historical
17. 2025-12-17
    listed $550,000 Active
18. 2012-12-28
    price $392,900
19. 2012-12-28
    price $392,900
20. 2012-12-28
    price $392,900
21. 2012-12-28
    price $392,900
22. 2012-12-28
    price $392,900
23. 2004-10-01
    historical
24. 2004-07-28
    listed $324,000
25. 2004-05-24
    historical
26. 2004-05-07
    listed $515,000
27. 2004-01-16
    price $515,000
28. 2004-01-16
    price $515,000
29. 2004-01-16
    price $515,000
30. 2004-01-16
    price $515,000
31. 2004-01-16
    price $515,000
32. 2002-02-04
    soldstatus $195,000
33. 2001-12-17
    listed $197,500

ⓘ 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 4/10 Moderate 4 d/yr ≥92°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,828
• − Mortgage interest: −$30,809
• − Property taxes: −$8,250
• − Insurance: −$2,750
• − Repairs & maintenance: −$2,866
• − Management: −$2,866
• − HOA: −$9,144
• − Depreciation: −$16,000
• Taxable loss: −$36,857
• Est. tax savings @ 24.0%: +$8,846
• After-tax cash flow: $-17,606/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: Saddleback Valley Unified
• NCES district ID: 0633860
• Math proficiency: 51% ▼ -2.00%
• Reading proficiency: 73% ▲ 9.00%
• Median HH income: $85,577
• Composite: 56.05/100
• National rank: #1185
• State rank: #67 of 517 in CA

Livability — Laguna Woods

• Score: 72/100
• State rank: #200
• US rank: #6421

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Laguna Woods, CA
• County: Orange County · 3,096,323 people
• City population: 17,289
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 17,289
• Household income: $59,269
• Rent vs Own: 28.4% rent · 71.6% own
• Severe rent burden: 1572.0

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 White (68%)
• Race & ethnicity: White 68% Asian 24% Hispanic / Latino 5% Two or more races 3%
• Common ancestry: Romanian 4% Scotch-Irish 4% Lithuanian 3%
• Foreign-born: 31% · China, South Korea, Canada
• Languages at home: 72% English-only · Chinese 8% Korean 7% Other Indo-European 3%

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: ▲ 5.88%
• Current HPI: 180.1191
• Rent YoY: ▲ 6.79%
• 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

+178.5% since first listed

19 events — show timeline

• 2026-05-19 Listed $550,000 CRMLS
• 2026-05-11 Listing Removed — CRMLS
• 2025-12-17 Listed $550,000 CRMLS
• 2012-12-28 Price Changed $392,900 CRMLS
• 2012-12-28 Price Changed $392,900 CRMLS
• 2012-12-28 Price Changed $392,900 CRMLS
• 2012-12-28 Price Changed $392,900 CRMLS
• 2012-12-28 Price Changed $392,900 CRMLS
• 2004-10-01 Listing Removed — CRMLS
• 2004-07-28 Listed $324,000 CRMLS
• 2004-05-24 Listing Removed — CRMLS
• 2004-05-07 Listed $515,000 CRMLS
• 2004-01-16 Price Changed $515,000 CRMLS
• 2004-01-16 Price Changed $515,000 CRMLS
• 2004-01-16 Price Changed $515,000 CRMLS
• 2004-01-16 Price Changed $515,000 CRMLS
• 2004-01-16 Price Changed $515,000 CRMLS
• 2002-02-04 Sold (MLS) $195,000 CRMLS
• 2001-12-17 Listed $197,500 CRMLS