300 N Rampart #197 · Orange, CA 92868

$235,000

3 bd · 2.0 ba · 1,500 sqft · Manufactured · 14 Days on market

Built 2000 25 ac lot Est $218k · 8% over

---

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
• Schools +4.5/10.0
• ARV discount +3.9/15.0
• Livability +3.7/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Park Royale, one of Orange's most desirable all-age communities! Ideally situated within walking distance of Angel Stadium and just minutes from the Honda Center and the exciting new OCVIBE entertainment district, this spacious home offers comfort, convenience, and an exceptional location. Fresh interior paint and new carpet make this home move-in ready, while vaulted ceilings and abundant natural light create a bright, open atmosphere throughout. The spacious kitchen is designed for both everyday living and entertaining, featuring granite countertops, a center island, abundant cabinetry, and a large pantry for exceptional storage. The adjacent living and dining areas provide ple

Key facts

• New carpet
• Spacious kitchen
• Fresh interior paint

Tags

• MINUTES FROM HONDA CENTER
• FRESH INTERIOR PAINT
• NEW CARPET
• VAULTED CEILINGS
• ABUNDANT NATURAL LIGHT
• SPACIOUS KITCHEN

Property features AI

Finance

• Other: Manager approval required for the park; Pets allowed with breed restrictions
• Financial info: Land lease (monthly): $2,700
• HOA & community: Part of an association with monthly association fees; Park name: Park Royale; Street lighting

Exterior

• Parking: Attached carport (1 space)
• Utilities: Public sewer; District/public water
• Home design: Single-story home; Front door entry; Mobile home (Sunpoint 2001 model, remains on site; approx. 26' x 56')
• Construction: Year built: (source listed as Other); Total stories: 1
• Exterior features: Community pool; Back yard; One shed

Interior

• Kitchen: Kitchen island; Granite counters; Gas range; Dishwasher
• Bedrooms: All bedrooms on main level; Primary suite
• Flooring: Carpet; Laminate
• Bathrooms: Two full bathrooms; Separate tub and shower in master; Double sinks in master bath; Shower
• Heating & cooling: Central heating (furnace); Central cooling
• Interior features: Ceiling fan; Open floor plan; Granite counters
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $235k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $235k).
• Cap rate 14.4% vs local median 2.3% in Orange — 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 73/100 on livability (#172 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, employment A+, crime B; Watch: schools C-, health & safety C-, cost of living F.
• Orange Unified (urban): math 39% / reading 60% proficiency, ranked #127 of 517 in CA (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.9%/yr); 36 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 6,974 units permitted in Orange County in 2024 (3,839 in 5+ unit buildings).
• At $4,075/mo this rent would consume 50% of the median local household income ($98k/yr) (locally 1763% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• At projected returns (-3.0% appreciation + 1.9% rent growth), your $66k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $235,000

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. 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.
3. 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.
4. 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: 1.73% ✓
• Cap rate: 14.44%
• Cash-on-cash: 29.09%
• DSCR: 2.29
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $217,500
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
300 N Rampart St #125	0.00mi	4/2.0 (+1)	1,534 (+2%)	9mo	$170,000	$111	84
300 N Rampart St #113	0.00mi	3/2.5	1,440 (-4%)	9mo	$260,000	$181	84
300 Rampart #194	0.00mi	3/2.0	1,600 (+7%)	7mo	$215,000	$134	83
300 N Rampart St #62	0.00mi	2/2.0 (-1)	1,560 (+4%)	9mo	$110,000	$71	81
300 N Rampart St #37	0.00mi	2/2.0 (-1)	1,440 (-4%)	10mo	$212,000	$147	80
300 N Rampart St #76	0.00mi	3/2.0	1,400 (-7%)	11mo	$131,000	$94	80
300 N Rampart St #198	0.00mi	2/2.0 (-1)	1,440 (-4%)	14mo	$66,000	$46	77
300 N Rampart St #174	0.00mi	3/2.0	1,344 (-10%)	8mo	$249,900	$186	76
2300 S Lewis St #143	0.62mi	4/2.0 (+1)	1,573 (+5%)	0mo	$229,500	$146	58
2300 S Lewis St #72	0.62mi	3/2.0	1,340 (-11%)	14mo	$270,000	$201	41
2300 S Lewis St #20	0.62mi	2/2.0 (-1)	1,368 (-9%)	15mo	$65,000	$48	39
2300 Lewis St #183	0.62mi	2/2.0 (-1)	1,344 (-10%)	14mo	$195,000	$145	37

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 · 1.89% rent growth · sell at horizon

5-year hold

• IRR: 22.2%
• Equity multiple: 1.90×
• Total profit: $59,072
• Equity at exit: $35,039

10-year hold

• IRR: 29.5%
• Equity multiple: 3.50×
• Total profit: $164,441
• Equity at exit: $20,319

Cash invested: $65,800 (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 92868

• Rents YoY: 1.9%
• Active inventory: 36
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $4,075 high
• Mortgage (P&I): −$1,232
• Tax est. 1.5%: −$294 /mo · $3,525/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$856
• Net cashflow: $1,595

Break-even live

Break-even rent $2,056

Max offer price $235,000

Occupancy floor 56%

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3063 W Chapman Ave Orange, CA	1.0–2.0	1.0–2.0	869	$3,247	$3.73	1d	30	0.18mi
299 N State College Blvd Orange, CA	2.0	1.0–2.0	1006	$4,805	$4.78	1d	75	0.23mi
2324 W Palm Ave Orange, CA	4.0	2.0	1480	$5,200	$3.51	7d	1	0.43mi
938 E Weaver Ln Anaheim, CA	3.0	3.0	1576	$3,995	$2.53	1d	1	0.48mi
385 S Manchester Ave Orange, CA	2.0	1.0–2.0	903	$4,346	$4.81	2d	26	0.55mi
1912 S Jacaranda St Anaheim, CA	3.0	1.0–2.0	993	$4,731	$4.76	1d	21	0.56mi
1910 S Union St Anaheim, CA	2.0	1.0–2.0	1135	$3,773	$3.32	1d	20	0.60mi
1921 S Union St Anaheim, CA	3.0	1.0–2.0	962	$4,392	$4.57	1d	19	0.65mi
1893 S Union St #120 Anaheim, CA	3.0	2.0	1700	$3,950	$2.32	20d	1	0.73mi
1891 S Union St #111 Anaheim, CA	2.0	2.0	1599	$3,900	$2.44	1d	1	0.74mi
1818 S State College Blvd Anaheim, CA	1.0–2.0	1.0–2.0	1033	$3,280	$3.17	1d	14	0.75mi
1730 Anaheim, CA	4.0	3.5	2102	$5,500	$2.62	1d	1	0.75mi
200 City Blvd W Orange, CA	2.0	1.0–2.0	897	$3,263	$3.64	1d	12	0.76mi
2100 E Katella Ave Anaheim, CA	1.0–2.0	2.0	1190	$3,350	$2.81	1d	7	0.77mi
2000 W Palmyra Ave Orange, CA	3.0	2.5	1387	$3,599	$2.59	10d	1	0.86mi
1801 E Katella Ave Anaheim, CA	1.0–2.0	1.0–2.0	919	$3,075	$3.34	10d	5	0.90mi
1801 E Katella Ave Anaheim, CA	1.0–2.0	1.0–2.0	911	$3,075	$3.37	24d	4	0.90mi
1801 E Katella Ave Anaheim, CA	1.0–2.0	1.0–2.0	911	$3,075	$3.37	1d	4	0.90mi
1801 E Katella Ave Anaheim, CA	1.0–2.0	1.0–2.0	911	$3,075	$3.37	21d	6	0.90mi
1815 S Westside Dr Anaheim, CA	2.0	1.0–2.5	1033	$3,995	$3.87	1d	27	0.91mi
1910 W Palmyra Ave #92 Orange, CA	3.0	1.5	1358	$3,400	$2.50	12d	1	0.94mi
13392 Dawn Ave Garden Grove, CA	3.0	2.0	1628	$3,795	$2.33	2d	1	0.94mi
1721 W Palmyra Ave Orange, CA	4.0	2.0	1810	$4,000	$2.21	20d	1	0.95mi
1781 S Campton Ave Anaheim, CA	1.0–3.0	1.0–2.0	1071	$3,999	$3.73	1d	7	0.96mi
1725 S Auburn Way Anaheim, CA	2.0	1.0–2.0	821	$3,150	$3.83	1d	14	1.02mi
331 E Bluebell Pl Anaheim, CA	4.0	2.0	2000	$6,500	$3.25	1d	1	1.02mi
1118 W Orange Rd Santa Ana, CA	4.0	3.0	2203	$6,000	$2.72	12d	1	1.08mi
977 E Mason Ln #116 Anaheim, CA	3.0	2.5	1967	$4,300	$2.19	15d	1	1.10mi
987 E Mason Ln #129 Anaheim, CA	3.0	2.5	1967	$4,500	$2.29	17d	1	1.12mi
331 E Wakefield Ave Anaheim, CA	3.0	2.0	1134	$3,200	$2.82	16d	1	1.13mi
331 E Wakefield Ave Anaheim, CA	4.0	2.0	1344	$3,500	$2.60	1d	1	1.13mi
1690 S Lewis St Anaheim, CA	3.0	2.5	1772	$12,000	$6.77	1d	1	1.18mi
1676 S Lewis St Anaheim, CA	3.0	2.5	1821	$5,200	$2.86	1d	1	1.19mi
3825 W Garden Grove Blvd Orange, CA	1.0–3.0	1.0–2.5	1112	$2,845	$2.56	2d	3	1.22mi
526 N Emerald Dr Orange, CA	4.0	2.0	1527	$5,350	$3.50	4d	1	1.23mi
417 N Citrus St Orange, CA	4.0	2.0	1400	$5,000	$3.57	2d	1	1.29mi
923 W Maple Ave Orange, CA	4.0	2.0	1281	$6,000	$4.68	43d	1	1.31mi
2624 N Towner St Santa Ana, CA	3.0	2.0	1406	$4,900	$3.49	19d	1	1.35mi
2045 S Haster St Anaheim, CA	2.0	1.0–1.5	1035	$3,048	$2.94	1d	3	1.35mi
126 S Batavia St Orange, CA	3.0	2.0	1200	$3,695	$3.08	3d	1	1.36mi

Listing history 10 events

1. 2026-06-18
   days on market $235,000 Active 14 DOM
2. 2026-06-17
   days on market $235,000 Active 13 DOM
3. 2026-06-16
   days on market $235,000 Active 12 DOM
4. 2026-06-15
   days on market $235,000 Active 11 DOM
5. 2026-06-13
   days on market $235,000 Active 9 DOM
6. 2026-06-13
   days on market $235,000 Active 8 DOM
7. 2026-06-09
   days on market $235,000 Active 5 DOM
8. 2026-06-08
   days on market $235,000 Active 4 DOM
9. 2026-06-07
   remarks 699-char remark
10. 2026-06-07
    listed $235,000 Active 3 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 4/10 Moderate FEMA zone X · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥94°F today · 22 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 12 unhealthy d/yr today · 13 by 30 yrs out

Taxation est. · year 1

• Rental income: $48,898
• − Mortgage interest: −$13,164
• − Property taxes: −$3,525
• − Insurance: −$1,175
• − Repairs & maintenance: −$3,912
• − Management: −$3,912
• − Depreciation: −$6,836
• Taxable income: $16,374
• Est. tax owed @ 24.0%: −$3,930
• After-tax cash flow: $15,211/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: Orange Unified
• NCES district ID: 0628650
• Math proficiency: 39% ▼ -6.00%
• Reading proficiency: 60% ▲ 3.00%
• Median HH income: $83,557
• Composite: 45.5/100
• National rank: #2609
• State rank: #127 of 517 in CA

Livability — Orange

• Score: 73/100
• State rank: #172
• US rank: #5560

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Orange, CA
• County: Orange County · 3,096,323 people
• City population: 143,297
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 26,380
• Household income: $97,500
• Rent vs Own: 69.1% rent · 30.9% own
• Severe rent burden: 1763.0

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 0.65)
• Race & ethnicity: Hispanic / Latino 51% White 25% Asian 16% Two or more races 15% Black 3% Native American 2%
• Hispanic origin (detail): Mexican 44%
• Common ancestry: Italian 2% Portuguese 1% Romanian 1%
• Foreign-born: 25% · Canada, Vietnam, South Korea
• Languages at home: 53% English-only · Spanish 32% Vietnamese 4% Tagalog/Filipino 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: ▼ -537.48%
• Current HPI: 489.0285
• Rent YoY: ▲ 1.89%
• 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

• 2026-06-04 Listed $235,000 CRMLS

Property tax history

-3.9%/yr

Latest (2025): $296 · +0.2% YoY. Source: county tax records.