12152 Trask #15 · Garden Grove, CA 92843

$220,000

3 bd · 2.0 ba · 1,344 sqft · Manufactured · 45 Days on market

Built 1989 $164/sqft · 29% above area Est $170k · 29% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• Schools +4.5/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 12151 Trask Ave #15, Garden Grove, CA 92843 - a beautifully updated mobile home offering comfort, space, and convenience! This charming home features 3 spacious bedrooms and 2 full bathrooms with a bright open floor plan and high ceilings that create an airy and inviting atmosphere. Enjoy the remodeled kitchen with modern upgrades, fresh interior paint, and generously sized rooms perfect for comfortable living. The high ceilings and abundant natural light make the home feel even more spacious and welcoming. Located in a well-maintained community, this move-in ready home is conveniently close to shopping, restaurants, schools, and easy freeway access. A wonderful opportunity to ow

Key facts

• 3 parking spots
• Community pool
• Built 1989

Property features AI

Finance

• Other: Park name: Meadowlark Mobile Estates MHC; Lot characterized as over 40 units per acre; Pets allowed; Refrigerator excluded; washer and dryer available for purchase
• Financial info: Land lease of $1,850 per month (park-provided)
• HOA & community: Amenities include gym/exercise room, playground, pool, barbecue, clubhouse, outdoor cooking area, spa, picnic area, billiard room

Exterior

• Parking: Carport with space for 3 vehicles
• Utilities: Public sewer; District/public water
• Home design: Mobile home (Model: NEW HAVEN 2453); Double body type; Single-story; Entry at level 1; Mobile dimensions approximately 12 ft by 56 ft
• Construction: Mobile home remains on site; Year built source: Other
• Exterior features: Community pool; Street lighting; Sidewalks

Interior

• Kitchen: Microwave; Gas oven; Dishwasher; Quartz countertops
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central furnace; Wall/window cooling
• Interior features: One-level home; Community spa; Community pool
• Laundry & utility: Indoor laundry; Gas and electric dryer hookups

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $220k.

Deal economics

• At list price, monthly cash flow is $825 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $220k).
• Recommended offer: $213k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.5% vs local median 1.8% in Garden Grove — 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 66/100 on livability (#343 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A; Watch: amenities D+, cost of living F, health & safety 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.
• Zoned schools: James Monroe Elementary (568 students, 65% FRL); Leroy L. Doig Intermediate (558 students, 95% FRL); Santiago High (math 24% / reading 56%, grade F, #514 of 1,170 statewide, top 44%, 1,927 students, 92% FRL) — zoned schools average 84% FRL vs 60% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 30 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 6,974 units permitted in Orange County in 2024 (3,839 in 5+ unit buildings).
• At $3,127/mo this rent would consume 46% of the median local household income ($81k/yr) (locally 1814% 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 + 3.0% rent growth), your $62k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($213k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $213,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.42% ✓
• Cap rate: 11.47%
• Cash-on-cash: 18.51%
• DSCR: 1.82
• GRM: 5.9

CMA / ARV

• ARV (median comp): $170,000
• List price: $220,000
• Delta: 29.41%
• Verdict: OVERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
230 Green Dr	0.67mi	3/2.0	1,248 (-7%)	4mo	$170,000	$136	54
12861 West St #153	0.75mi	3/2.0	1,368 (+2%)	15mo	$172,000	$126	50
13096 Blackbird St #167	0.45mi	3/2.0	1,185 (-12%)	16mo	$178,200	$150	46
12861 West St #104	0.75mi	2/2.0 (-1)	1,440 (+7%)	11mo	$179,900	$125	39
12861 West St #137	0.75mi	3/2.0	1,456 (+8%)	14mo	$170,000	$117	39
12861 West St Space 114	0.75mi	3/2.0	1,523 (+13%)	10mo	$225,000	$148	35

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.1%
• Equity multiple: 1.28×
• Total profit: $17,004
• Equity at exit: $32,803

10-year hold

• IRR: 16.4%
• Equity multiple: 2.35×
• Total profit: $82,951
• Equity at exit: $19,022

Cash invested: $61,600 (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 92843

• Active inventory: 30
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $3,127 high
• Mortgage (P&I): −$1,154
• Tax est. 1.5%: −$275 /mo · $3,300/yr
• Insurance: −$92
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$657
• Net cashflow: $825

Break-even live

Break-even rent $2,083

Max offer price $220,000

Occupancy floor 69%

Sensitivity live

Price	-10% $977	-5% $901	+0% $825	+5% $749	+10% $673
Rent	-10% $578	-5% $701	+0% $825	+5% $948	+10% $1,072
Rate	-1.0pp $936	-0.5pp $881	base $825	+0.5pp $768	+1.0pp $710

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12562 Cardinal Ave Unit B Garden Grove, CA	3.0	1.0	1100	$2,800	$2.55	45d	1	0.38mi
3630 Westminster Ave Santa Ana, CA	2.0	2.0	997	$2,758	$2.77	45d	1	0.50mi
11655 Trask Ave Unit 3 Garden Grove, CA	2.0	2.0	950	$2,750	$2.89	45d	1	0.53mi
11655 Trask Ave Unit 6 Garden Grove, CA	2.0	2.0	950	$2,800	$2.95	45d	1	0.53mi
1500 N Harbor Blvd Santa Ana, CA	1.0–2.0	1.0–2.0	780	$2,575	$3.30	17d	1	0.62mi
1314 N Harbor Blvd Santa Ana, CA	2.0	2.0	884	$2,742	$3.10	15d	4	0.67mi
12777 Garden Grove Blvd Garden Grove, CA	1.0–2.0	1.0–2.0	731	$2,470	$3.38	9d	3	0.73mi
13100 Garden Grove Blvd Garden Grove, CA	2.0	2.0	902	$2,700	$2.99	45d	1	0.90mi
12702 Woodland Ln Garden Grove, CA	3.0	2.0	1695	$3,995	$2.36	26d	1	1.01mi
12611 Sungrove Cir Garden Grove, CA	3.0	2.0	1258	$3,350	$2.66	23d	1	1.08mi
1610 N King St Santa Ana, CA	1.0–2.0	1.0–2.0	808	$2,400	$2.97	45d	1	1.12mi
12602 Citruswood Ave Garden Grove, CA	3.0	2.0	1000	$6,000	$6.00	0d	1	1.14mi
13884 Euclid St Unit D07 Garden Grove, CA	3.0	1.5	1060	$3,300	$3.11	3d	1	1.20mi
13884 Euclid St Unit F08 Garden Grove, CA	2.0	1.5	900	$2,895	$3.22	26d	1	1.20mi
13884 Euclid St Apt C12 Garden Grove, CA	3.0	1.5	1060	$3,335	$3.15	26d	1	1.20mi
13772 Euclid St Unit 3 Garden Grove, CA	2.0	2.5	1200	$2,800	$2.33	45d	1	1.20mi
13884 Euclid St Garden Grove, CA	2.0–3.0	1.5	980	$3,300	$3.37	3d	4	1.20mi
4109 W 5th St Unit C3 Santa Ana, CA	2.0	2.0	921	$2,500	$2.71	23d	1	1.23mi
4109 W 5th St Unit C3 Santa Ana, CA	2.0	2.0	921	$2,900	$3.15	45d	1	1.23mi
4201 W 5th St Santa Ana, CA	2.0	1.0	921	$2,800	$3.04	9d	1	1.27mi
3900 W 5th St Santa Ana, CA	1.0–2.0	1.0–2.0	780	$2,175	$2.79	15d	1	1.29mi
5010 W Maurie Ave Santa Ana, CA	3.0	2.0	1580	$4,000	$2.53	3d	1	1.29mi
13321 Heritage Way Garden Grove, CA	4.0	2.0	1833	$4,295	$2.34	23d	1	1.29mi
3200 W 5th St Santa Ana, CA	1.0–2.0	1.0–2.0	769	$3,350	$4.36	0d	9	1.33mi
11791 Comstock Rd Garden Grove, CA	3.0	2.0	1155	$3,950	$3.42	20d	1	1.33mi
13061 Lampson Ave Garden Grove, CA	1.0–2.0	1.0–1.5	847	$2,550	$3.01	12d	2	1.34mi
12212 Buaro St Garden Grove, CA	4.0	2.0	1600	$4,600	$2.88	45d	1	1.36mi
12681 Lewis St Garden Grove, CA	2.0	1.0–2.0	775	$2,722	$3.51	3d	1	1.42mi
13388 Taft St #8 Garden Grove, CA	3.0	2.5	1239	$3,200	$2.58	20d	1	1.43mi
13388 Taft St Garden Grove, CA	3.0	2.5	1239	$3,200	$2.58	26d	1	1.43mi
12621 Lewis St Garden Grove, CA	2.0	2.0	960	$2,600	$2.71	9d	1	1.43mi
12291 Hampton Ave Garden Grove, CA	3.0	2.0	1146	$4,950	$4.32	15d	1	1.44mi
12233 Greenleaf Ln Garden Grove, CA	4.0	3.5	1767	$4,000	$2.26	45d	1	1.47mi
3825 W Garden Grove Blvd Orange, CA	1.0–3.0	1.0–2.5	1112	$2,845	$2.56	4d	3	1.47mi
13357 Taft St Unit ADU Garden Grove, CA	2.0	2.0	1050	$3,400	$3.24	45d	1	1.48mi
12162 Jentges Ave Garden Grove, CA	1.0–2.0	1.0	830	$2,645	$3.19	0d	3	1.50mi

Listing history 16 events

1. 2026-06-21
   statusdays on market $220,000 Active Under Contract 45 DOM
2. 2026-06-18
   days on market $220,000 Active 42 DOM
3. 2026-06-17
   days on market $220,000 Active 41 DOM
4. 2026-06-16
   days on market $220,000 Active 40 DOM
5. 2026-06-15
   days on market $220,000 Active 39 DOM
6. 2026-06-13
   days on market $220,000 Active 37 DOM
7. 2026-06-13
   days on market $220,000 Active 36 DOM
8. 2026-06-09
   days on market $220,000 Active 33 DOM
9. 2026-06-08
   days on market $220,000 Active 32 DOM
10. 2026-06-07
    days on market $220,000 Active 31 DOM
11. 2026-06-04
    days on market $220,000 Active 28 DOM
12. 2026-06-03
    days on market $220,000 Active 27 DOM
13. 2026-06-02
    days on market $220,000 Active 26 DOM
14. 2026-06-01
    days on market $220,000 Active 25 DOM
15. 2026-05-31
    days on market $220,000 Active 24 DOM
16. 2026-05-07
    listed $220,000 Active 761-char remark

ⓘ 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 3/10 Moderate FEMA zone A · 9% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥89°F today · 23 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: $37,524
• − Mortgage interest: −$12,323
• − Property taxes: −$3,300
• − Insurance: −$2,602
• − Repairs & maintenance: −$3,002
• − Management: −$3,002
• − Depreciation: −$6,400
• Taxable income: $6,894
• Est. tax owed @ 24.0%: −$1,655
• After-tax cash flow: $8,242/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 — Garden Grove

• Score: 66/100
• State rank: #343
• US rank: #11727

Category grades

Amenities D+ 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: Garden Grove, CA
• County: Orange County · 3,096,323 people
• City population: 157,355
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 46,414
• Household income: $81,446
• Rent vs Own: 52.9% rent · 47.1% own
• Severe rent burden: 1814.0

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 0.59)
• Race & ethnicity: Hispanic / Latino 46% Asian 44% Two or more races 15% White 7% Native American 2%
• Hispanic origin (detail): Mexican 42%
• Foreign-born: 53% · Vietnam, Canada, South Korea
• Languages at home: 20% English-only · Spanish 39% Vietnamese 36% Korean 1%

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: ▼ -826.28%
• Current HPI: 496.9803
• Rent YoY: —
• 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

• 2026-05-07 Listed $220,000 CRMLS

Property tax history

-5.9%/yr

Latest (2025): $99 · +0.5% YoY. Source: county tax records.