3424 WASHINGTON Ave W #309 · Santa Ana, CA 92703

$299,900

4 bd · 2.0 ba · 1,300 sqft · Manufactured · 253 Days on market

Built 2016 Good condition $231/sqft · 80% above area

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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 +25.0/30.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Schools +4.5/10.0
• Condition / age +4.0/5.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautifully maintained 4 bedrooms 2 bathrooms, located in a well-established Mobile Park built in 2016, offering approximately 1,300 square feet of living space, open floor provides both funtion and comfort for every day life. Home features laminate wood throughout all areas including 4 bedrooms and 2 baths. Fresh exterior gives the home a clean updated look. Outside you will find at the baclk of the house a storage shed 10X10 and covered carport that can acommodate up to 3 cars. Centrally situated and convenient acccess to the freeway. This home is near shopping mall, dining, schools. Don't miss the opportunity to make this property your next home!

Key facts

• Shopping centers
• Storage shed
• Schools

Tags

• SCHOOLS
• SHOPPING CENTERS
• PARKING CEMENTED
• STORAGE SHED

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $300k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $650 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $300k).
• Recommended offer: $264k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 2.5% in Santa Ana — 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 55/100 on livability (#871 in CA) — a working-class tenant base; expect higher turnover. Strengths: employment A; Watch: schools D, crime D-, amenities 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: 59 active listings in the ZIP; 5 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).
• At $3,446/mo this rent would consume 49% of the median local household income ($84k/yr) (locally 1835% 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 $9k 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 253 days — a 12% lower offer ($264k) 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 $263,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 253 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.15% ✓
• Cap rate: 8.89%
• Cash-on-cash: 9.28%
• DSCR: 1.41
• GRM: 7.3

CMA / ARV

• ARV (median comp): $166,243
• List price: $299,900
• Delta: 80.40%
• Verdict: OVERPRICED
• Comps: 14 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
230 Green Dr	0.03mi	3/2.0 (-1)	1,248 (-4%)	4mo	$170,000	$136	84
14300 Clinton St #105	0.40mi	4/2.0	1,344 (+3%)	20mo	$205,000	$153	59
14300 Clinton St #61	0.40mi	3/2.0 (-1)	1,440 (+11%)	5mo	$165,000	$115	54
14300 CLINTON St N #155	0.42mi	3/2.0 (-1)	1,344 (+3%)	20mo	$185,000	$138	53
14300 Clinton St #64	0.40mi	3/2.0 (-1)	1,440 (+11%)	6mo	$245,000	$170	53
14300 Clinton St #120	0.40mi	3/2.0 (-1)	1,344 (+3%)	23mo	$195,000	$145	52
14300 Clinton St #96	0.40mi	3/3.0 (-1)	1,440 (+11%)	7mo	$170,000	$118	49

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: -2.3%
• Equity multiple: 0.91×
• Total profit: $-7,169
• Equity at exit: $44,716

10-year hold

• IRR: 7.4%
• Equity multiple: 1.56×
• Total profit: $47,247
• Equity at exit: $25,930

Cash invested: $83,972 (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 92703

• Active inventory: 59
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $3,446 high
• Mortgage (P&I): −$1,573
• Tax est. 1.5%: −$375 /mo · $4,498/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$724
• Net cashflow: $650

Break-even live

Break-even rent $2,623

Max offer price $299,900

Occupancy floor 76%

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 5 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	44d	1	0.64mi
5010 W Maurie Ave Santa Ana, CA	3.0	2.0	1580	$4,000	$2.53	2d	1	1.19mi
13884 Euclid St Unit D07 Garden Grove, CA	3.0	1.5	1060	$3,300	$3.11	2d	1	1.30mi
13884 Euclid St Apt C12 Garden Grove, CA	3.0	1.5	1060	$3,335	$3.15	24d	1	1.30mi
13884 Euclid St Garden Grove, CA	2.0–3.0	1.5	980	$3,300	$3.37	2d	4	1.30mi

Listing history 15 events

1. 2026-06-18
   days on market $299,900 Active 253 DOM
2. 2026-06-17
   days on market $299,900 Active 252 DOM
3. 2026-06-16
   days on market $299,900 Active 251 DOM
4. 2026-06-15
   days on market $299,900 Active 250 DOM
5. 2026-06-13
   days on market $299,900 Active 248 DOM
6. 2026-06-13
   days on market $299,900 Active 247 DOM
7. 2026-06-09
   days on market $299,900 Active 244 DOM
8. 2026-06-08
   days on market $299,900 Active 243 DOM
9. 2026-06-07
   days on market $299,900 Active 242 DOM
10. 2026-06-04
    days on market $299,900 Active 239 DOM
11. 2026-06-03
    days on market $299,900 Active 238 DOM
12. 2026-06-02
    days on market $299,900 Active 237 DOM
13. 2026-06-01
    days on market $299,900 Active 236 DOM
14. 2026-05-31
    days on market $299,900 Active 235 DOM
15. 2025-10-08
    listed $299,900 Active 674-char remark

    Show marketing remark (674 chars)

    Welcome to this beautifully maintained 4 bedrooms 2 bathrooms, located in a well-established Mobile Park built in 2016, offering approximately 1,300 square feet of living space, open floor provides both funtion and comfort for every day life. Home features laminate wood throughout all areas including 4 bedrooms and 2 baths. Fresh exterior gives the home a clean updated look. Outside you will find at the baclk of the house a storage shed 10X10 and covered carport that can acommodate up to 3 cars. Centrally situated and convenient acccess to the freeway. This home is near shopping mall, dining, schools. Don't miss the opportunity to make this property your next home!

ⓘ 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 · 0% 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: $41,350
• − Mortgage interest: −$16,799
• − Property taxes: −$4,498
• − Insurance: −$1,500
• − Repairs & maintenance: −$3,308
• − Management: −$3,308
• − Depreciation: −$8,724
• Taxable income: $3,212
• Est. tax owed @ 24.0%: −$771
• After-tax cash flow: $7,025/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This home is in good condition with fresh exterior paint and laminate flooring throughout. It has potential for a cosmetic update to the kitchen and bathrooms to increase its resale and rental value.

Repairs flagged

• Minor kitchen cabinets — dated and could be replaced
• Minor bathroom fixtures — standard and could be updated

Value-add opportunities

• Both paint interior walls — Fresh paint can improve the home's appearance and value
• Resale update kitchen cabinets — Modern cabinets can significantly enhance the home's appeal and value
• Resale update bathroom fixtures — Modern fixtures can improve the home's appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and could be replaced	Minor	$500–3,000
bathroom fixtures · standard and could be updated	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both paint interior walls — Fresh paint can improve the home's appearance and value ↑
• Resale update kitchen cabinets — Modern cabinets can significantly enhance the home's appeal and value ↑
• Resale update bathroom fixtures — Modern fixtures can improve the home's appeal and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Santa Ana

• Score: 55/100
• State rank: #871
• US rank: #23502

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Santa Ana, CA
• County: Orange County · 3,096,323 people
• City population: 288,255
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 62,447
• Household income: $84,437
• Rent vs Own: 49.0% rent · 51.0% own
• Severe rent burden: 1835.0

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 Hispanic (77%)
• Race & ethnicity: Hispanic / Latino 77% Two or more races 19% Asian 16% White 5% Native American 2%
• Hispanic origin (detail): Mexican 72%
• Common ancestry: Iranian 1%
• Foreign-born: 47% · Canada, Vietnam, China
• Languages at home: 17% English-only · Spanish 68% Vietnamese 13% Other Asian/Pacific 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: ▼ -666.61%
• Current HPI: 458.1824
• 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

• 2025-10-08 Listed $299,900 CRMLS