1346 Clear Lake Pl #70 · Brea, CA 92821

$305,000

2 bd · 2.0 ba · 1,856 sqft · Manufactured · 79 Days on market

Built 1980 Good condition Est $334k · 9% under

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Why this score? — see what drove the B- 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 +25.7/30.0
• ARV discount +11.4/15.0
• DSCR +8.6/10.0
• 1% rule +6.8/10.0
• Schools +5.1/10.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Rent growth +2.9/5.0
• Appreciation +0.0/10.0

Listing remarks

Senior Park Community 55+. .Look no further! This charming large 2br. , 2ba is nestled on the lush greenbelt with a nice covered patio perfect for enjoying morning coffee or your favorite beverage. The entry welcomes you into the spacious living room featuring plenty of windows allowing for natural light, and adjacent to the dining room. Nice size kitchen with lots of counter and cabinet space including pull out drawers, gas cook top and breakfast nook. Just off the kitchen is the Den featuring a fire place and beverage bar perfect for entertaining family and friends. The master bedroom features a walk-in closet, attached bath with double sinks, soaking tub, walk in shower and linen space.

Key facts

• Size kitchen
• Natural light
• Covered patio

Tags

• LUSH GREENBELT
• COVERED PATIO
• SPACIOUS LIVING ROOM
• NATURAL LIGHT
• SIZE KITCHEN
• COUNTER AND CABINET SPACE

Property features AI

Finance

• Other: Manager approval required for multi-unit; Pets allowed
• Financial info: Monthly land lease (park) of $1,554.75
• HOA & community: Senior community; Park name: Lake Park Brea; Community features include curbs, street lighting, sidewalks, storm drains, lake and fishing

Exterior

• Parking: Concrete driveway; Attached carport (side-by-side)
• Security: Carbon monoxide detector(s); Smoke detector; Resident manager
• Utilities: Public/district water; Public sewer / sewer connected; Natural gas connected; Electricity connected; Telephone in street; Cable available (and noted as not available in one entry)
• Home design: Single-story mobile home (model: Westway, approximately 34' x 60'); Entry at front door; Faces south; One level; Has view
• Construction: Wood, brick, hardboard and stone construction; Composition/shingle roof; Pillar/post/pier foundation
• Exterior features: Covered front porch and patio (wood and concrete); Awning; Rain gutters; Shed (1); Landscaped lot; Greenbelt; Block wall and wrought iron fencing in good condition; Lake on lot and community fishing

Interior

• Kitchen: Microwave; Range/stove hood; Gas range; Electric oven; Tile counters; Kitchen open to family room; Pots & pan drawers
• Bedrooms: Primary suite; Walk-in closet
• Flooring: Vinyl; Carpet
• Bathrooms: Two full bathrooms; Soaking tub; Walk-in shower; Separate tub and shower; Double sinks in primary bath
• Heating & cooling: Central cooling; Central furnace heating
• Interior features: Wood product walls; Tile counters; Drapes/Curtains, blinds and screens; Carbon monoxide detector(s) and smoke detector; Resident manager; Community heated in-ground spa
• Laundry & utility: Inside laundry; Washer included; Dryer included; Washer hookup; Gas & electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $305k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $732 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $305k).
• Recommended offer: $287k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 2.1% in Brea — 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 76/100 on livability (#100 in CA, #3,570 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, employment A+, schools A-; Watch: health & safety C-, cost of living F.
• Fullerton Joint Union High (suburban): math 51% / reading 66% proficiency, ranked #82 of 517 in CA (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.8%/yr); 63 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 6,974 units permitted in Orange County in 2024 (3,839 in 5+ unit buildings).
• This rent runs 35% of the median local income ($124k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 79 days — a 6% lower offer ($287k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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.

Recommended offer $286,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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.
6. 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.
7. 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: 1.18% ✓
• Cap rate: 9.17%
• Cash-on-cash: 10.29%
• DSCR: 1.46
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $334,080
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1362 Fern Lake Ave #113	0.12mi	2/2.0	1,874 (+1%)	3mo	$385,000	$205	90
1371 Pleasant Lake Pl #105	0.12mi	2/2.0	1,896 (+2%)	6mo	$388,589	$205	86
1351 Clear Lake Pl #76	0.03mi	2/2.5	1,996 (+8%)	1mo	$352,500	$177	84
635 Shadow Lake Ave #43	0.16mi	2/2.0	1,810 (-2%)	9mo	$325,000	$180	80
1352 Silver Lake Pl #87	0.04mi	2/2.0	1,740 (-6%)	10mo	$260,000	$149	80
685 Wood Lake Dr #184	0.29mi	2/2.0	1,770 (-5%)	1mo	$155,000	$88	78
2300 Lake Forest Ln #113	0.14mi	2/2.0	1,704 (-8%)	5mo	$355,000	$208	76
605 Crest Lake Cir #230	0.14mi	2/2.0	1,750 (-6%)	13mo	$300,370	$172	73
1381 Harbor Lake Ave #32	0.23mi	2/2.0	1,680 (-10%)	2mo	$250,000	$149	72
1352 Pleasant Lake Pl #102	0.08mi	2/2.0	1,680 (-10%)	13mo	$280,000	$167	70
675 Wood Lake Ave #186	0.28mi	2/2.0	1,656 (-11%)	1mo	$399,500	$241	68
685 View Lake Dr #161	0.27mi	2/2.0	1,640 (-12%)	8mo	$385,000	$235	62

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 · 1.78% rent growth · sell at horizon

5-year hold

• IRR: -2.2%
• Equity multiple: 0.92×
• Total profit: $-7,084
• Equity at exit: $45,476

10-year hold

• IRR: 6.1%
• Equity multiple: 1.43×
• Total profit: $36,657
• Equity at exit: $26,371

Cash invested: $85,400 (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 92821

• Rents YoY: 1.8%
• Active inventory: 63
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $3,595 high
• Mortgage (P&I): −$1,599
• Tax est. 1.5%: −$381 /mo · $4,575/yr
• Insurance: −$127
• HOA: −$0
• Vacancy / Maint / Mgmt: −$755
• Net cashflow: $732

Break-even live

Break-even rent $2,668

Max offer price $305,000

Occupancy floor 75%

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: $76,250
• Closing costs: $9,150
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1511 Kinsler Ct Brea, CA	3.0	2.5	1605	$4,095	$2.55	15d	1	0.29mi
141 N Fonda St Unit 1 La Habra, CA	3.0	2.5	1300	$3,400	$2.62	10d	1	0.75mi
1500 Eastpark Dr Unit 3 La Habra, CA	2.0	1.5	1286	$2,500	$1.94	1d	1	0.78mi
350 W Central Ave Brea, CA	1.0–3.0	1.0–2.5	1024	$3,538	$3.45	1d	8	1.12mi
715 S Walnut Ave Apt 3 Brea, CA	2.0	2.5	1300	$3,400	$2.62	4d	1	1.35mi
719 S Walnut Ave Brea, CA	3.0	2.0	1339	$3,800	$2.84	44d	1	1.36mi
843 Bernard Dr Fullerton, CA	3.0	2.0	1679	$5,500	$3.28	10d	1	1.37mi
843 Bernard Dr Fullerton, CA	3.0	2.0	1679	$5,500	$3.28	1d	1	1.37mi
716 S Walnut Ave Brea, CA	3.0	2.0	1357	$3,800	$2.80	44d	1	1.39mi

Listing history 14 events

1. 2026-06-18
   days on market $305,000 Active 79 DOM
2. 2026-06-17
   days on market $305,000 Active 78 DOM
3. 2026-06-16
   days on market $305,000 Active 77 DOM
4. 2026-06-15
   days on market $305,000 Active 76 DOM
5. 2026-06-13
   days on market $305,000 Active 74 DOM
6. 2026-06-09
   days on market $305,000 Active 70 DOM
7. 2026-06-08
   days on market $305,000 Active 69 DOM
8. 2026-06-07
   days on market $305,000 Active 68 DOM
9. 2026-06-04
   days on market $305,000 Active 65 DOM
10. 2026-06-03
    days on market $305,000 Active 64 DOM
11. 2026-06-02
    days on market $305,000 Active 63 DOM
12. 2026-06-01
    days on market $305,000 Active 62 DOM
13. 2026-05-31
    days on market $305,000 Active 61 DOM
14. 2026-03-31
    listed $305,000 Active

ⓘ 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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥96°F today · 22 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $43,142
• − Mortgage interest: −$17,085
• − Property taxes: −$4,575
• − Insurance: −$1,525
• − Repairs & maintenance: −$3,451
• − Management: −$3,451
• − Depreciation: −$8,873
• Taxable income: $4,182
• Est. tax owed @ 24.0%: −$1,004
• After-tax cash flow: $7,785/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 · 13 photos

Good 75/100 Cosmetic rehab

This manufactured home is in good condition with a good roof and exterior. It has a spacious living room and a well-maintained exterior with a covered patio and a front porch. The home could benefit from some interior updates to increase its resale and rental value.

Repairs flagged

• Minor Kitchen cabinets — The cabinets are in good condition but may benefit from a fresh paint job or new hardware.
• Minor Bathroom vanity — The vanity is in good condition but may need a new faucet or hardware for a more modern look.
• Minor Carpet — The carpet in the living room and bedrooms may need to be replaced for a more modern look.

Value-add opportunities

• Resale Paint the interior walls — Updating the interior walls with fresh paint can make the home more appealing to potential buyers.
• Rental Replace the carpet — Replacing the carpet with a more modern and durable option can increase the rental value.
• Both Update the kitchen cabinets — Updating the kitchen cabinets can improve the home's curb appeal and increase both resale and rental value.
• Both Update the bathroom vanity — Updating the bathroom vanity can improve the home's curb appeal and increase both resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · The cabinets are in good condition but may benefit from a fresh paint job or new hardware.	Minor	$500–3,000
Bathroom vanity · The vanity is in good condition but may need a new faucet or hardware for a more modern look.	Minor	$500–3,000
Carpet · The carpet in the living room and bedrooms may need to be replaced for a more modern look.	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Resale Paint the interior walls — Updating the interior walls with fresh paint can make the home more appealing to potential buyers. ↑
• Rental Replace the carpet — Replacing the carpet with a more modern and durable option can increase the rental value. ↑
• Both Update the kitchen cabinets — Updating the kitchen cabinets can improve the home's curb appeal and increase both resale and rental value. ↑
• Both Update the bathroom vanity — Updating the bathroom vanity can improve the home's curb appeal and increase both resale and rental 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: Fullerton Joint Union High
• NCES district ID: 0614760
• Math proficiency: 51% ▲ 7.00%
• Reading proficiency: 66% ▲ 1.00%
• Median HH income: $66,666
• Composite: 51.37/100
• National rank: #1735
• State rank: #82 of 517 in CA

Livability — Brea

• Score: 76/100
• State rank: #100
• US rank: #3570

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Brea, CA
• County: Orange County · 3,096,323 people
• City population: 41,623
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 41,623
• Household income: $123,629
• Rent vs Own: 42.5% rent · 57.5% own
• Severe rent burden: 1655.0

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 0.69)
• Race & ethnicity: White 38% Hispanic / Latino 32% Asian 24% Two or more races 14% Black 1%
• Hispanic origin (detail): Mexican 27%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 23% · Canada, South Korea, China
• Languages at home: 66% English-only · Spanish 16% Korean 6% Chinese 4%

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: ▼ -826.78%
• Current HPI: 374.8663
• Rent YoY: ▲ 1.78%
• 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

• 2026-03-31 Listed $305,000 CRMLS