9851 Bolsa Ave #175 · Westminster, CA 92683

$339,900

3 bd · 3.0 ba · 1,440 sqft · Manufactured · 110 Days on market

Built 1975 $236/sqft · 68% above area

---

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 +22.2/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +5.8/10.0
• Schools +4.5/10.0
• Livability +3.1/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* Doublewide Lancer home built in 1975 * 3 bedrooms, 3 baths, 3 kitchens. * * Completely upgraded, move-in ready * It's almost like 3 studios in one with its own kitchen, with separate entrances. * Central heating * Refrigerator, Stoves, Central A/C and storage shed are included * Long driveway with with 4-5 car parking spaces * Additional guest parking spaces are close by * Corner lot home. * In All-ages Community!!! * Space rent to new owner is $1535.

Key facts

• Central heating
• Separate entrance
• Own kitchen

Tags

• COMPLETELY UPGRADED
• OWN KITCHEN
• SEPARATE ENTRANCE
• CENTRAL HEATING
• STORAGE SHED
• LONG DRIVEWAY

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath manufactured listed at $340k.

Deal economics

• At list price, monthly cash flow is $554 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $340k).
• Recommended offer: $309k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 1.9% in Westminster — 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 62/100 on livability (#509 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+; Watch: crime D-, amenities F, cost of living F.
• Garden Grove Unified (suburban): math 38% / reading 65% proficiency, ranked #132 of 517 in CA (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.0%/yr); 90 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 6d 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 $3,675/mo this rent would consume 52% of the median local household income ($86k/yr) (locally 4639% 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 $10k 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 110 days — a 9% lower offer ($309k) is reasonable based on typical stale-listing flexibility.

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 $309,309 (9.0% below list)

Questions for the listing agent

1. It's been on market 110 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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 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: 1.08% ✓
• Cap rate: 8.25%
• Cash-on-cash: 6.99%
• DSCR: 1.31
• GRM: 7.7

CMA / ARV

• ARV (median comp): $201,970
• List price: $339,900
• Delta: 68.29%
• Verdict: OVERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9851 Bolsa Ave #198	0.00mi	3/3.0	1,458 (+1%)	6mo	$380,000	$261	93
9851 Bolsa Ave #196	0.00mi	3/2.0	1,420 (-1%)	5mo	$400,000	$282	89
9800 BOLSA Ave #14	0.17mi	2/2.0 (-1)	1,440 (0%)	5mo	$158,000	$110	79
9800 Bolsa #79	0.17mi	2/2.0 (-1)	1,440 (0%)	5mo	$207,000	$144	79
10200 Bolsa #126	0.46mi	2/2.0 (-1)	1,440 (0%)	1mo	$155,000	$108	69
10200 Bolsa Ave #91	0.46mi	2/2.0 (-1)	1,440 (0%)	1mo	$107,000	$74	69
9800 BOLSA #48	0.17mi	2/2.0 (-1)	1,536 (+7%)	5mo	$142,500	$93	68
10200 Bolsa #69	0.46mi	2/2.0 (-1)	1,440 (0%)	3mo	$158,000	$110	67
9702 Bolsa Ave #189	0.35mi	3/2.0	1,314 (-9%)	1mo	$335,000	$255	64
9702 Bolsa #86	0.35mi	4/2.0 (+1)	1,344 (-7%)	1mo	$340,000	$253	63
14362 Bushard St #38	0.54mi	3/2.0	1,320 (-8%)	8mo	$265,000	$201	50
14362 Bushard #39	0.54mi	3/2.0	1,227 (-15%)	6mo	$250,000	$204	41

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 · 2.01% rent growth · sell at horizon

5-year hold

• IRR: -6.7%
• Equity multiple: 0.75×
• Total profit: $-23,356
• Equity at exit: $50,680

10-year hold

• IRR: 1.7%
• Equity multiple: 1.11×
• Total profit: $10,751
• Equity at exit: $29,388

Cash invested: $95,172 (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 92683

• Rents YoY: 2.0%
• Active inventory: 90
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $3,675 high
• Mortgage (P&I): −$1,782
• Tax est. 1.5%: −$425 /mo · $5,098/yr
• Insurance: −$142
• HOA: −$0
• Vacancy / Maint / Mgmt: −$772
• Net cashflow: $554

Break-even live

Break-even rent $2,973

Max offer price $339,900

Occupancy floor 80%

Sensitivity live

Price	-10% $789	-5% $672	+0% $554	+5% $437	+10% $319
Rent	-10% $264	-5% $409	+0% $554	+5% $699	+10% $844
Rate	-1.0pp $725	-0.5pp $641	base $554	+0.5pp $466	+1.0pp $376

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: $84,975
• Closing costs: $10,197
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15100 Brookhurst St Unit 327 Westminster, CA	2.0	2.0	1254	$3,996	$3.19	0d	1	0.27mi
15123 Brookhurst St Westminster, CA	2.0	1.0–2.0	705	$2,940	$4.17	0d	5	0.29mi
15100 Brookhurst St Westminster, CA	2.0	2.0	1254	$4,828	$3.85	13d	1	0.32mi
14846 Brownstone Ln Westminster, CA	3.0	2.5	1454	$3,600	$2.48	0d	1	0.34mi
15400 Belgrade St Westminster, CA	1.0–2.0	1.0–2.0	888	$2,950	$3.32	45d	4	0.50mi
9869 Bria Ln Garden Grove, CA	2.0	2.5	1780	$3,995	$2.24	3d	1	0.51mi
15100 Moran St Westminster, CA	1.0–2.0	1.0–2.0	1080	$3,768	$3.49	0d	7	0.58mi
9551 Robin Ave Westminster, CA	3.0	2.0	1302	$4,000	$3.07	45d	1	0.63mi
10500 Westminster Ave Garden Grove, CA	1.0–3.0	1.0–2.0	1001	$3,100	$3.10	16d	5	1.07mi
10500 Westminster Ave Unit 9 Garden Grove, CA	2.0	1.0	992	$2,595	$2.62	6d	1	1.07mi
10402 Bowen Cir Garden Grove, CA	3.0	2.0	1219	$3,900	$3.20	45d	1	1.18mi
15951 Los Reyes St Unit A Fountain Valley, CA	3.0	2.0	1000	$3,100	$3.10	45d	1	1.35mi
8810 Hewitt Pl #22 Garden Grove, CA	2.0	2.5	1025	$3,200	$3.12	0d	1	1.40mi
5010 W Maurie Ave Santa Ana, CA	3.0	2.0	1580	$4,000	$2.53	3d	1	1.42mi
5313 W Lehnhardt Ave Santa Ana, CA	3.0	2.0	1750	$4,700	$2.69	45d	1	1.44mi

Listing history 16 events

1. 2026-06-21
   days on market $339,900 Active 110 DOM
2. 2026-06-18
   days on market $339,900 Active 107 DOM
3. 2026-06-17
   days on market $339,900 Active 106 DOM
4. 2026-06-16
   days on market $339,900 Active 105 DOM
5. 2026-06-15
   days on market $339,900 Active 104 DOM
6. 2026-06-13
   days on market $339,900 Active 102 DOM
7. 2026-06-13
   days on market $339,900 Active 101 DOM
8. 2026-06-09
   days on market $339,900 Active 98 DOM
9. 2026-06-08
   days on market $339,900 Active 97 DOM
10. 2026-06-07
    days on market $339,900 Active 96 DOM
11. 2026-06-04
    days on market $339,900 Active 93 DOM
12. 2026-06-03
    days on market $339,900 Active 92 DOM
13. 2026-06-02
    days on market $339,900 Active 91 DOM
14. 2026-06-01
    days on market $339,900 Active 90 DOM
15. 2026-05-31
    days on market $339,900 Active 89 DOM
16. 2026-03-03
    listed $339,900 Active 490-char remark

    Show marketing remark (490 chars)

    * Doublewide Lancer home built in 1975 * 3 bedrooms, 3 baths, 3 kitchens. * * Completely upgraded, move-in ready * It's almost like 3 studios in one with its own kitchen, with separate entrances. * Central heating * Refrigerator, Stoves, Central A/C and storage shed are included * Long driveway with with 4-5 car parking spaces * Additional guest parking spaces are close by * Corner lot home. * In All-ages Community!!! * Space rent to new owner is $1535.

ⓘ 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 5/10 Major 7 d/yr ≥88°F today · 23 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $44,098
• − Mortgage interest: −$19,040
• − Property taxes: −$5,098
• − Insurance: −$1,700
• − Repairs & maintenance: −$3,528
• − Management: −$3,528
• − Depreciation: −$9,888
• Taxable income: $1,316
• Est. tax owed @ 24.0%: −$316
• After-tax cash flow: $6,334/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: Garden Grove Unified
• NCES district ID: 0614880
• Math proficiency: 38% ▼ -14.00%
• Reading proficiency: 65% ▲ 4.00%
• Median HH income: $60,089
• Composite: 44.89/100
• National rank: #2715
• State rank: #132 of 517 in CA

Livability — Westminster

• Score: 62/100
• State rank: #509
• US rank: #17242

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Westminster, CA
• County: Orange County · 3,096,323 people
• City population: 89,833
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 89,833
• Household income: $85,585
• Rent vs Own: 46.5% rent · 53.5% own
• Severe rent burden: 4639.0

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 0.64)
• Race & ethnicity: Asian 51% Hispanic / Latino 24% White 20% Two or more races 9%
• Hispanic origin (detail): Mexican 20%
• Common ancestry: Slovak 1% Portuguese 1% Lithuanian 1%
• Foreign-born: 46% · Vietnam, Canada, China
• Languages at home: 35% English-only · Vietnamese 40% Spanish 18% Chinese 2%

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: ▼ -917.95%
• Current HPI: 410.3463
• Rent YoY: ▲ 2.01%
• 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

• 2026-03-03 Listed $339,900 CRMLS

Property tax history

-0.1%/yr

Latest (2025): $80 · +2176.6% YoY. Source: county tax records.