215 Lakepark · Placentia, CA 92870

$230,000

2 bd · 2.0 ba · 1,536 sqft · Manufactured · 9 Days on market

Built 1976 18 ac lot $150/sqft · 7% above area Est $219k · 5% over ↓ 19% 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
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• ARV discount +5.2/15.0
• Schools +5.2/10.0
• Livability +3.4/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

complete remodel * * * Corner Lot * * * BIG front porch * * * NEW flooring * * * NEW bathrooms * * * NEW kitchen * * * 2 bedroom + den/office * * * NEW windows * * * one of Orange County's most desirable communities!

Key facts

• Open floor plan
• New kitchen
• Inviting front porch

Tags

• CORNER LOT
• INVITING FRONT PORCH
• CENTRAL A/C
• WOOD FLOORS
• OPEN FLOOR PLAN
• NEW KITCHEN

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $230k.

Deal economics

• At list price, monthly cash flow is $935 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $230k).
• Cap rate 11.2% vs local median 2.3% in Placentia — 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 68/100 on livability (#290 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+; Watch: amenities F, cost of living F, health & safety F.
• Placentia-Yorba Linda Unified (suburban): math 48% / reading 66% proficiency, ranked #78 of 517 in CA (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.3%/yr); 73 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals leasing fast (median 7d 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 33% of the median local income ($116k/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 $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 + 3.3% rent growth), your $64k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $29k (11%) 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $230,000

Questions for the listing agent

1. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-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?
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: 1.39% ✓
• Cap rate: 11.17%
• Cash-on-cash: 17.43%
• DSCR: 1.78
• GRM: 6.0

CMA / ARV

• ARV (median comp): $218,685
• List price: $230,000
• Delta: 7.46%
• 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
210 Silverlake	0.06mi	2/2.0	1,536 (0%)	1mo	$235,000	$153	96
210 Lakepark Dr	0.02mi	2/2.0	1,440 (-6%)	12mo	$240,000	$167	79
320 Lakepark Dr	0.03mi	2/2.0	1,440 (-6%)	11mo	$230,000	$160	79
161 E Orangethorpe Ave #102	0.29mi	3/2.0 (+1)	1,512 (-2%)	1mo	$299,000	$198	78
345 Crestlake Cir	0.05mi	2/2.0	1,650 (+7%)	9mo	$195,000	$118	78
300 Ridgelake Dr #46	0.10mi	2/2.0	1,440 (-6%)	11mo	$230,000	$160	76
255 Clearlake Cir #98	0.11mi	2/2.0	1,440 (-6%)	14mo	$369,500	$257	72
335 Ridgelake	0.13mi	2/2.0	1,356 (-12%)	4mo	$175,000	$129	71
305 Ridge Lake Dr #33	0.12mi	2/2.0	1,680 (+9%)	16mo	$370,000	$220	66
235 Silverlake Dr	0.11mi	3/2.0 (+1)	1,680 (+9%)	16mo	$310,000	$185	61
161 E Orangethorpe Ave #130	0.29mi	2/2.0	1,344 (-12%)	16mo	$280,000	$208	52
161 E Orangethorpe Ave #8	0.29mi	2/2.0	1,344 (-12%)	18mo	$245,000	$182	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 · 3.33% rent growth · sell at horizon

5-year hold

• IRR: 9.2%
• Equity multiple: 1.36×
• Total profit: $23,425
• Equity at exit: $34,294

10-year hold

• IRR: 18.7%
• Equity multiple: 2.58×
• Total profit: $101,714
• Equity at exit: $19,886

Cash invested: $64,400 (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 92870

• Rents YoY: 3.3%
• Active inventory: 73
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $3,196 high
• Mortgage (P&I): −$1,206
• Tax est. 1.5%: −$288 /mo · $3,450/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$671
• Net cashflow: $935

Break-even live

Break-even rent $2,012

Max offer price $230,000

Occupancy floor 66%

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
150 E Crowther Ave Placentia, CA	1.0–2.0	1.0–2.0	871	$3,661	$4.20	3d	12	0.31mi
266 Backs Ln Placentia, CA	2.0–3.0	2.0–2.5	1221	$2,600	$2.13	6d	5	0.37mi
155 S Angelina Dr Placentia, CA	1.0–2.0	1.0–2.5	906	$2,855	$3.15	3d	7	0.45mi
203 Oahu Way Placentia, CA	2.0	1.5	1270	$3,495	$2.75	24d	1	0.47mi
307 E Chapman Ave Placentia, CA	3.0	2.5	1280	$3,650	$2.85	3d	1	0.56mi
501 W Crowther Ave Placentia, CA	3.0	1.0–2.5	1050	$3,612	$3.44	3d	38	0.56mi
201 E Chapman Ave Placentia, CA	1.0–2.0	1.0–2.0	938	$3,127	$3.33	2d	21	0.62mi
349 Camarillo St Unit C Placentia, CA	2.0	1.5	1100	$2,300	$2.09	43d	1	0.66mi
940 Cypress Ave Placentia, CA	3.0	2.0	1644	$3,900	$2.37	17d	1	0.69mi
1017 Avenue De Pio Pico Unit 1017 Placentia, CA	3.0	2.0	1400	$3,695	$2.64	43d	1	0.79mi
2650 E Park Ln Apt A Anaheim, CA	3.0	2.0	1100	$3,200	$2.91	43d	1	0.82mi
144 Primrose Ave Unit 1 Placentia, CA	3.0	3.0	1300	$3,850	$2.96	7d	1	0.87mi
525 Twilight St Placentia, CA	3.0	2.0	1160	$3,800	$3.28	12d	1	1.00mi
449 N Via Napoli Anaheim, CA	3.0	1.5	1266	$3,445	$2.72	10d	1	1.31mi
3004 E Via Bruno Anaheim, CA	3.0	1.5	1180	$3,350	$2.84	24d	1	1.34mi
2965 E Jackson Ave Anaheim, CA	1.0–2.0	1.0–1.5	885	$3,075	$3.47	2d	11	1.34mi
3300 Quartz Ln Fullerton, CA	1.0–2.0	1.0–2.0	882	$3,015	$3.42	6d	8	1.36mi
2627 E La Palma Ave Anaheim, CA	2.0	2.0	1204	$3,360	$2.79	7d	1	1.40mi
3340 Topaz Ln Fullerton, CA	2.0	2.0	1050	$2,666	$2.54	2d	7	1.42mi
1341 Cameo Ln Fullerton, CA	2.0	1.5	1210	$3,000	$2.48	17d	1	1.45mi

Listing history 25 events

1. 2026-06-18
   days on market $230,000 Active 9 DOM
2. 2026-06-17
   price $230,000 Active 8 DOM
3. 2026-06-17
   days on market $235,000 Active 8 DOM
4. 2026-06-16
   days on market $235,000 Active 7 DOM
5. 2026-06-15
   days on market $235,000 Active 6 DOM
6. 2026-06-13
   days on market $235,000 Active 4 DOM
7. 2026-06-13
   days on market $235,000 Active 3 DOM
8. 2026-06-10
   remarks 305-char remark
9. 2026-06-10
   days on marketlisting id $235,000 Active 1 DOM
10. 2026-06-04
    days on market $235,000 Active 89 DOM
11. 2026-06-03
    days on market $235,000 Active 88 DOM
12. 2026-06-02
    days on market $235,000 Active 87 DOM
13. 2026-06-01
    days on market $235,000 Active 86 DOM
14. 2026-05-31
    days on market $235,000 Active 85 DOM
15. 2026-05-15
    price $235,000 248-char remark

    Show marketing remark (248 chars)

    complete remodel * * * Corner Lot * * * BIG front porch * * * NEW flooring * * * NEW bathrooms * * * NEW kitchen * * * 2 bedroom + den/office * * * NEW windows * * * one of Orange County's most desirable communities!

16. 2026-04-16
    price $240,000 248-char remark

    Show marketing remark (248 chars)

    complete remodel * * * Corner Lot * * * BIG front porch * * * NEW flooring * * * NEW bathrooms * * * NEW kitchen * * * 2 bedroom + den/office * * * NEW windows * * * one of Orange County's most desirable communities!

17. 2026-03-23
    price $250,000 248-char remark

    Show marketing remark (248 chars)

    complete remodel * * * Corner Lot * * * BIG front porch * * * NEW flooring * * * NEW bathrooms * * * NEW kitchen * * * 2 bedroom + den/office * * * NEW windows * * * one of Orange County's most desirable communities!

18. 2026-03-07
    listed $259,000 Active 248-char remark

    Show marketing remark (248 chars)

    complete remodel * * * Corner Lot * * * BIG front porch * * * NEW flooring * * * NEW bathrooms * * * NEW kitchen * * * 2 bedroom + den/office * * * NEW windows * * * one of Orange County's most desirable communities!

19. 2026-03-06
    historical
20. 2026-02-19
    price $265,000
21. 2026-01-29
    price $274,999
22. 2026-01-11
    price $284,999
23. 2026-01-04
    listed $309,900 Active
24. 2024-07-05
    historical
25. 2024-05-09
    listed $289,500 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥95°F today · 21 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: $38,354
• − Mortgage interest: −$12,884
• − Property taxes: −$3,450
• − Insurance: −$1,150
• − Repairs & maintenance: −$3,068
• − Management: −$3,068
• − Depreciation: −$6,691
• Taxable income: $8,043
• Est. tax owed @ 24.0%: −$1,930
• After-tax cash flow: $9,296/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: Placentia-Yorba Linda Unified
• NCES district ID: 0630660
• Math proficiency: 48% ▼ -10.00%
• Reading proficiency: 66% ▼ -2.00%
• Median HH income: $87,455
• Composite: 52.1/100
• National rank: #1622
• State rank: #78 of 517 in CA

Livability — Placentia

• Score: 68/100
• State rank: #290
• US rank: #9784

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Placentia, CA
• County: Orange County · 3,096,323 people
• City population: 52,826
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 52,826
• Household income: $115,929
• Rent vs Own: 36.4% rent · 63.6% own
• Severe rent burden: 2024.0

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 39% Hispanic / Latino 36% Two or more races 20% Asian 18% Black 2%
• Hispanic origin (detail): Mexican 29% Salvadoran 1%
• Common ancestry: Lithuanian 2% Iranian 2% Italian 2%
• Foreign-born: 24% · Canada, South Korea, China
• Languages at home: 61% English-only · Spanish 22% Other Indo-European 4% Chinese 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: ▼ -855.13%
• Current HPI: 413.4729
• Rent YoY: ▲ 3.33%
• 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

-18.8% since first listed

11 events — show timeline

• 2026-05-15 Price Changed $235,000 CRMLS
• 2026-04-16 Price Changed $240,000 CRMLS
• 2026-03-23 Price Changed $250,000 CRMLS
• 2026-03-07 Listed $259,000 CRMLS
• 2026-03-06 Listing Removed — CRMLS
• 2026-02-19 Price Changed $265,000 CRMLS
• 2026-01-29 Price Changed $274,999 CRMLS
• 2026-01-11 Price Changed $284,999 CRMLS
• 2026-01-04 Listed $309,900 CRMLS
• 2024-07-05 Listing Removed — CRMLS
• 2024-05-09 Listed $289,500 CRMLS

Property tax history

-4.0%/yr

Latest (2025): $32 · +0.1% YoY. Source: county tax records.