14081 Magnolia St #44

Westminster, CA 92683

$289,900C-

3 bd · 2.0 ba · 1,200 sqft · Built 2022 · Manufactured · Coming Soon · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,137/mo
• Mortgage (P&I): −$1,520
• Tax + insurance: −$483
• HOA: −$0
• Vac / Maint / Mgmt: −$659
• Net cashflow: $475/mo
• Annual: $5,695/yr
• Cap rate: 8.26%
• Cash-on-cash: 7.02%
• DSCR: 1.31
• 1% rule: 1.08%
• Cash to close: $81,172

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $290k.
• At list price, monthly cash flow is $475 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $290k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• 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.
• Huntington Beach Union High (suburban): math 65% / reading 82% proficiency, ranked #39 of 517 in CA (top 8%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Westminster High (math 51% / reading 68%, grade C+, #205 of 1,170 statewide, top 19%, 2,637 students, 87% FRL).
• Zoned-school proficiency averages 60% at this address vs 74% district-wide (-14 pts) — the specific schools serving this property underperform the Huntington Beach Union High average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+2.0%/yr); 87 active listings in the ZIP; 35 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).
• Orange County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts since 22y ago; this cycle's ask is 202% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• 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.
• Cap rate 8.3% 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.
• This rent runs 44% of the median local income ($86k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.