477 Calle Cadiz Unit Q · Laguna Woods, CA 92637

$228,000

1 bd · 1.0 ba · 770 sqft · Condo · 12 Days on market

Built 1968 $827/mo HOA · 29% of rent

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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 +8.9/30.0
• Appreciation +7.9/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Schools +5.6/10.0
• Rent growth +4.2/5.0
• Livability +3.6/5.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

THIS CUTE 1 BEDROOM, 1 BATH, CADIZ FLOOR PLAN IS LOCATED IN THIS BEAUTIFUL 55+ COMMUNITY WITH ALL IT'S AMENITIES. GOLFING, TENNIS, PICKLE BALL, BOCCE BALL, LAWN BOWLING, BILLIARDS, OVER 200 HUNDRED CLUBS, 7 CLUBHOUSES, 5 POOLS & MUCH MORE THAN YOU CAN IMAGINE!! THIS HOME HAS BEEN UPDATED AND HAS DUAL PANE WINDOWS. PARK LIKE OUTLOOK. IF YOU LIKE TO WALK , THIS IS A PLACE FOR YOU. . BETWEEN CLUBHOUSE 1-3 AND CLOSE TO THE PEDESTRIAN GATE TO SHOPPING, BANKS & MEDICAL. REMEMBER LOCATION! LOCATION! LOCATION. .

Key facts

• Meadow-like setting
• Double-pane windows
• Mature trees

Tags

• MEADOW-LIKE SETTING
• MATURE TREES
• LUXURY PLANK FLOORING
• SPLIT AIR CONDITIONING UNITS
• DOUBLE-PANE WINDOWS
• STACKABLE WASHER AND DRYER

Property features AI

Finance

• Other: Community contains many units (community-wide unit count listed); Accessibility features include parking and lowered switches
• HOA & community: Part of United Mutual association; Monthly association fee; Association amenities include: club house, pool, spa, gym/exercise room, billiard and card rooms, meeting/banquet facilities, controlled access/guard, on-site property management, multiple courts (tennis, pickleball, paddle tennis, bocce, other sport courts), biking and hiking trails, dog park, golf, horse trails, barbecue areas, trash and sewer maintenance, cable TV, recreational multipurpose room, and RV parking; Senior community

Exterior

• Parking: Assigned paved parking; Detached carport (1 carport space); Guest parking; Common RV parking with RV access and gated RV area; Built-in storage; Paved access via city streets
• Security: Gated community with attendant; 24-hour security; Automatic gate; Controlled access; Onsite property management; Smoke detector
• Utilities: District/public water; Public sewer (sewer paid); Sewer connected; Electricity connected (220V in kitchen); Cable and telephone connected; Underground utilities; Natural gas not available
• Home design: Multi-family, attached property; End unit with no one above; One story; Entry at level 1; Stock cooperative (common interest)
• Construction: Frame and stucco construction; Composition common roof; Concrete slab foundation; Estimated year built
• Exterior features: Covered patio/deck with slab; Community association pool (in-ground, heated, lap/exercise pool) with pool cover; Association spa (heated); Block wall fencing; Landscaped lot; Located on a cul-de-sac; Has view

Interior

• Kitchen: Garbage disposal; Vented exhaust fan; Electric oven and electric stove; Pots & pan drawers; Formal, separated dining area
• Bedrooms: Main floor primary bedroom; One bedroom on main level
• Flooring: Vinyl flooring
• Bathrooms: One full bathroom with bathtub and shower-in-tub; Exhaust fan(s) in bathroom
• Heating & cooling: Zoned heating; Zoned cooling
• Interior features: Living room balcony; Double pane windows with screens; No interior steps; Lowered light switches; Turnkey, updated/remodeled condition; One-level living
• Laundry & utility: Inside laundry; Washer hookup; Stackable configuration; Washer and dryer included; 220V in laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $228k.

Deal economics

• At list price, monthly cash flow is $-183 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $202k (11.6% below list).
• Meets the 1% rule at list price ($3k rent vs $228k).
• Recommended offer: $202k (11.6% below list) — sets the bar for cash-flow.
• Cap rate 5.3% vs local median 2.4% in Laguna Woods — 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 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 at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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 $2,810/mo this rent would consume 57% 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 $15k of equity ($2k loan paydown + $13k 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 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 15y 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 $150k; list at $228k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.

Recommended offer $201,580 (11.6% 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 1968 — 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. 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.
7. 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.
8. 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: 1.23% ✓
• Cap rate: 5.33%
• Cash-on-cash: -3.43%
• DSCR: 0.85
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 14.7%
• Equity multiple: 2.01×
• Total profit: $64,304
• Equity at exit: $141,659

10-year hold

• IRR: 17.1%
• Equity multiple: 4.54×
• Total profit: $226,093
• Equity at exit: $255,463

Cash invested: $63,840 (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: 6.8×

Monthly cashflow live

• Estimated rent: $2,810 high
• Mortgage (P&I): −$1,196
• Tax est. 1.5%: −$285 /mo · $3,420/yr
• Insurance: −$95
• HOA: −$827
• Vacancy / Maint / Mgmt: −$590
• Net cashflow: $-183

Break-even live

Break-even rent $3,041

Max offer price $201,580

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: $57,000
• Closing costs: $6,840
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
477 Calle Cadiz Unit A Laguna Woods, CA	1.0	1.0	770	$2,500	$3.25	24d	1	0.03mi
479 Calle Cadiz Unit B Laguna Woods, CA	2.0	2.0	1050	$3,300	$3.14	17d	1	0.05mi
92 Calle Aragon Unit R Laguna Woods, CA	2.0	2.0	1009	$2,650	$2.63	18d	1	0.07mi
494 Calle Cadiz Laguna Woods, CA	2.0	2.0	1000	$3,900	$3.90	43d	1	0.13mi
57 Calle Cadiz Laguna Woods, CA	2.0	2.0	1040	$2,800	$2.69	43d	1	0.15mi
57 Calle Cadiz Unit N Laguna Woods, CA	2.0	2.0	1040	$2,900	$2.79	2d	1	0.15mi
46 Calle Aragon Unit R Laguna Woods, CA	2.0	2.0	1040	$2,800	$2.69	18d	1	0.21mi
59 Calle Cadiz Unit B Laguna Woods, CA	2.0	2.0	1070	$3,500	$3.27	43d	1	0.21mi
53 Calle Aragon Unit O Laguna Woods, CA	1.0	1.0	770	$2,200	$2.86	12d	1	0.24mi
74 Calle Aragon Unit A Laguna Woods, CA	2.0	1.0	950	$2,700	$2.84	24d	1	0.24mi
107 Via Estrada Laguna Woods, CA	2.0	2.0	1040	$2,700	$2.60	24d	1	0.30mi
254 Calle Aragon Unit D Laguna Woods, CA	2.0	2.0	1009	$3,000	$2.97	17d	1	0.31mi
29 Calle Aragon Unit Q Laguna Woods, CA	2.0	2.0	1040	$3,100	$2.98	43d	1	0.33mi
21 Avenida Castilla Unit D Laguna Woods, CA	2.0	2.0	940	$3,200	$3.40	18d	1	0.34mi
224 Avenida Majorca Unit B Laguna Woods, CA	2.0	2.0	1009	$2,600	$2.58	43d	1	0.37mi
715 Avenida Majorca Unit O Laguna Woods, CA	2.0	2.0	1040	$2,750	$2.64	3d	1	0.38mi
599 Avenida Majorca Unit A Laguna Woods, CA	2.0	1.0	950	$3,200	$3.37	43d	1	0.39mi
754 Avenida Majorca Laguna Woods, CA	2.0	2.0	953	$3,350	$3.52	43d	1	0.41mi
24299 Paseo De Valencia Laguna Woods, CA	2.0	2.0	1347	$3,770	$2.80	22d	7	0.41mi
8 Via Castilla Unit N Laguna Woods, CA	2.0	2.0	1040	$3,250	$3.12	24d	1	0.43mi
8 Via Castilla Laguna Woods, CA	2.0	2.0	1000	$3,250	$3.25	43d	1	0.43mi
8 Via Castilla Unit T Laguna Woods, CA	2.0	2.0	1040	$2,650	$2.55	5d	1	0.43mi
8 Via Castilla Unit S Laguna Woods, CA	2.0	2.0	1000	$3,000	$3.00	43d	1	0.43mi
737 Avenida Majorca Unit B Laguna Woods, CA	2.0	1.0	935	$3,200	$3.42	24d	1	0.43mi
132 Avenida Majorca Unit B Laguna Woods, CA	2.0	1.0	995	$2,400	$2.41	6d	1	0.44mi
281 Avenida Carmel Unit 0Q Laguna Woods, CA	1.0	1.0	770	$2,300	$2.99	43d	1	0.47mi
606 Avenida Sevilla Unit C Laguna Woods, CA	2.0	2.0	1057	$2,900	$2.74	43d	1	0.51mi
170 Avenida Majorca Unit D Laguna Woods, CA	2.0	1.0	1000	$2,500	$2.50	24d	1	0.53mi
956 Calle Aragon Unit C Laguna Woods, CA	1.0	1.0	675	$2,700	$4.00	43d	1	0.61mi
661 Avenida Sevilla Unit B Laguna Woods, CA	2.0	2.0	1009	$2,850	$2.82	7d	1	0.65mi
24555 Los Alisos Blvd Laguna Hills, CA	2.0	2.0	1014	$3,250	$3.21	15d	1	0.67mi
24555 Los Alisos Blvd Laguna Hills, CA	2.0	2.0	1007	$3,356	$3.33	43d	1	0.67mi
24555 Los Alisos Blvd Laguna Hills, CA	1.0	1.0	739	$2,515	$3.40	7d	1	0.67mi
897 Ronda Sevilla Laguna Hills, CA	2.0	2.0	1009	$3,200	$3.17	43d	1	0.67mi
676 Via Alhambra Unit D Laguna Woods, CA	2.0	2.0	1057	$2,595	$2.46	24d	1	0.68mi
897 Ronda Sevilla Unit O Laguna Hills, CA	2.0	2.0	1009	$3,000	$2.97	43d	1	0.68mi
2049 Via Mariposa E Unit H Laguna Woods, CA	2.0	1.0	866	$2,900	$3.35	43d	1	0.71mi
852 Ronda Mendoza Unit O Laguna Woods, CA	2.0	2.0	1009	$3,000	$2.97	43d	1	0.71mi
24391 Avenida de la Carlota Laguna Hills, CA	1.0–2.0	1.0–2.0	957	$2,643	$2.76	1d	18	0.75mi
2014 Via Mariposa W Unit A Laguna Woods, CA	2.0	2.0	1040	$2,850	$2.74	43d	1	0.75mi

HOA detail condo

• Monthly dues: $827 · $9,924/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-06-18
   days on market $228,000 Active 12 DOM
2. 2026-06-17
   days on market $228,000 Active 11 DOM
3. 2026-06-16
   days on market $228,000 Active 10 DOM
4. 2026-06-15
   days on market $228,000 Active 9 DOM
5. 2026-06-13
   days on market $228,000 Active 7 DOM
6. 2026-06-13
   days on market $228,000 Active 6 DOM
7. 2026-06-09
   days on market $228,000 Active 3 DOM
8. 2026-06-08
   days on market $228,000 Active 2 DOM
9. 2026-06-07
   remarks 692-char remark
10. 2026-06-07
    listed $228,000 Active 1 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 5 d/yr ≥92°F today · 17 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: $33,723
• − Mortgage interest: −$12,772
• − Property taxes: −$3,420
• − Insurance: −$1,140
• − Repairs & maintenance: −$2,698
• − Management: −$2,698
• − HOA: −$9,924
• − Depreciation: −$6,633
• Taxable loss: −$5,561
• Est. tax savings @ 24.0%: +$1,335
• After-tax cash flow: $-856/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

+314.5% since first listed

12 events — show timeline

• 2026-06-06 Listed $228,000 CRMLS
• 2021-09-16 Sold (MLS) $150,000 CRMLS
• 2021-09-01 Pending — CRMLS
• 2021-06-28 Listed — CRMLS
• 2021-06-23 Coming Soon $150,000 CRMLS
• 2012-07-27 Sold (MLS) $47,000 CRMLS
• 2012-06-12 Pending — CRMLS
• 2012-04-04 Price Changed $47,000 CRMLS
• 2012-03-01 Listed $52,000 CRMLS
• 2011-12-29 Listing Removed — CRMLS
• 2011-11-19 Price Changed $48,000 CRMLS
• 2011-08-13 Listed $55,000 CRMLS