2509 View Lk #144 · Santa Ana, CA 92705

$420,000

2 bd · 2.0 ba · 1,580 sqft · Manufactured · 2 Days on market

Built 1984 Est $417k · at est.

---

Why this score? — see what drove the D 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 +13.2/30.0
• ARV discount +7.2/15.0
• Schools +4.5/10.0
• DSCR +4.0/10.0
• 1% rule +3.7/10.0
• Rent growth +3.4/5.0
• Livability +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

"Honey Stop the Car" This beautiful gated community doesn't look like a mobile home park. This well maintained manufactured homes has never been on the market. The double door front entrance is set back off the street. Walk down your private path where you can see the beautiful garden and green lawn. Once inside the home you will be amazed at how open and spacious the home feels. Lots of windows and high ceiling. The master bedroom has a walk-in closet. The master bathroom has an oval tub and a separate stall shower plus a two sink vanity. The laundry room with separate utility sink is inside the home just off the kitchen. Two car garage has direct access to the home with extra built-in shelves for more storage. The patio area has plenty of room for two tables, BBQ and gardening!! Lake Park amenities include pool, spa, exercise room, billiard tables, banquet room with kitchen for special events, card room and many social activities if you want to keep busy!!

Key facts

• Expansive greenbelt
• Abundant windows
• Premium site

Tags

• PREMIUM SITE
• EXPANSIVE GREENBELT
• NEW VINYL PLANK FLOORING
• SOARING WOOD BEAM CEILINGS
• ABUNDANT WINDOWS
• OUTDOOR PATIO

Property features AI

Finance

• Other: Washer and dryer excluded from sale; Manager approval required for residency
• Financial info: Land lease for the park (monthly land lease applies)
• HOA & community: Association amenities include: pool, spa, clubhouse, gym/exercise room, billiard room, multipurpose/recreational room, trash service, gas, water; Pets permitted (pet rules apply); Senior community; Community features include curbs, lake, street lighting, and sidewalks; Park name: Lake Park I (Lake Park, Santa Ana North)

Exterior

• Parking: Attached garage with direct access; Two garage parking spaces; Built-in garage storage; Garage door opener; Total of 2 parking spaces
• Security: Carbon monoxide detectors; Smoke detectors; Gated community with automatic gate
• Utilities: Public sewer; District/public water; Natural gas connected; Electricity connected; Cable connected
• Home design: Single-story home; Entry on level 1; Mobile home model W5 (mobile home remains); Turnkey; Has a view; Located in a gated, senior community (manager approval required)
• Construction: Composition/shingle roof; Concrete perimeter foundation; Blockwall and wood fencing
• Exterior features: Covered concrete patio; Patio; Rain gutters; Community/association pool; Community spa; Zero lot line; Paved road access

Interior

• Kitchen: Kitchen open to family room; Remodeled kitchen; Pots & pan drawers; Microwave; Refrigerator; Gas range and gas oven; Dishwasher
• Bedrooms: All bedrooms on the main level
• Flooring: Laminated flooring
• Bathrooms: Two full bathrooms; Walk-in shower; Shower with exhaust fan; Granite counters
• Heating & cooling: Forced air heating; Central cooling
• Interior features: Beamed ceilings; High (9+ foot) ceilings; Ceiling fan; Recessed lighting; Open floor plan; Granite counters; Double-pane windows; Blinds and screens; Remodeled; Turnkey condition
• Laundry & utility: Inside laundry room; Washer hookup (washer excluded); Gas dryer hookup (dryer excluded); Individual laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $420k.

Deal economics

• At list price, monthly cash flow is $-9 ($-104/yr) — negative.
• To cash-flow at today's rent, offer at most $419k (0.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $366k (12.8% below list).
• Recommended offer: $366k (12.8% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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: crime D-, amenities F, commute F.
• Orange Unified (urban): math 39% / reading 60% proficiency, ranked #127 of 517 in CA (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Fairhaven Elementary (math 24% / reading 24%, grade F, #973 of 1,571 statewide, top 73%, 445 students, 64% FRL); Portola Middle (597 students, 91% FRL); Orange High (math 19% / reading 48%, grade F, #656 of 1,170 statewide, top 57%, 1,807 students, 89% FRL) — zoned schools average 82% FRL vs 38% district-wide (43 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 29% at this address vs 50% district-wide (-20 pts) — the specific schools serving this property underperform the Orange Unified average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+3.7%/yr); 97 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 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 34% of the median local income ($129k/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 $3k of loan paydown is wiped out by about $13k 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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 12y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $175k; list at $420k implies a 140% gain — meaningful room to come down on a strong offer.

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 $366,313 (12.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.87% ✗
• Cap rate: 6.27%
• Cash-on-cash: -0.09%
• DSCR: 1.00
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $417,120
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2508 Park Lk	0.08mi	2/2.0	1,600 (+1%)	2mo	$425,000	$266	92
1529 Canyon Lk #140	0.02mi	2/2.0	1,540 (-2%)	6mo	$438,700	$285	90
2605 View	0.11mi	2/2.0	1,600 (+1%)	10mo	$375,000	$234	84
2508 View Lk #160	0.08mi	2/2.0	1,703 (+8%)	2mo	$332,500	$195	82
2533 Shadow Lk #124	0.08mi	2/2.0	1,708 (+8%)	9mo	$407,000	$238	75
2621 Forest Lk	0.15mi	2/2.0	1,745 (+10%)	4mo	$377,000	$216	72
2616 View Lk	0.08mi	2/2.0	1,700 (+8%)	17mo	$449,000	$264	69
2544 Park Lk	0.11mi	2/2.0	1,344 (-15%)	2mo	$370,000	$275	68
1500 Canyon Lk #163	0.08mi	2/2.0	1,708 (+8%)	18mo	$465,000	$272	68
2545 Shadow Lk #127	0.10mi	2/2.0	1,344 (-15%)	9mo	$325,000	$242	63
2624 View Lk	0.08mi	2/2.0	1,350 (-15%)	13mo	$397,000	$294	61
2505 Forest Lk	0.05mi	3/2.0 (+1)	1,805 (+14%)	13mo	$443,250	$246	58

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 · 3.72% rent growth · sell at horizon

5-year hold

• IRR: -15.6%
• Equity multiple: 0.44×
• Total profit: $-65,881
• Equity at exit: $62,623

10-year hold

• IRR: -6.0%
• Equity multiple: 0.60×
• Total profit: $-46,724
• Equity at exit: $36,314

Cash invested: $117,600 (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 92705

• Rents YoY: 3.7%
• Active inventory: 97
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $3,663 high
• Mortgage (P&I): −$2,203
• Tax est. 1.5%: −$525 /mo · $6,300/yr
• Insurance: −$175
• HOA: −$0
• Vacancy / Maint / Mgmt: −$769
• Net cashflow: $-9

Break-even live

Break-even rent $3,674

Max offer price $418,748

Occupancy floor 95%

Sensitivity live

Price	-10% $282	-5% $136	+0% $-9	+5% $-154	+10% $-299
Rent	-10% $-298	-5% $-153	+0% $-9	+5% $136	+10% $281
Rate	-1.0pp $203	-0.5pp $98	base $-9	+0.5pp $-117	+1.0pp $-228

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: $105,000
• Closing costs: $12,600
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1300 Fairhaven Ave Santa Ana, CA	1.0–2.0	1.0–2.0	900	$2,879	$3.20	0d	6	0.37mi
1920 Sherry Ln Santa Ana, CA	2.0	2.0	1080	$2,995	$2.77	26d	1	0.59mi
1047 E Tularosa Ave Orange, CA	3.0	2.0	1745	$4,500	$2.58	0d	1	0.73mi
2215 E Avalon Ave Santa Ana, CA	3.0	2.0	1315	$1,400	$1.06	45d	1	0.73mi
2210 E Avalon Ave Unit 2210 Santa Ana, CA	3.0	2.0	1325	$3,800	$2.87	45d	1	0.74mi
2210 E Avalon Ave Santa Ana, CA	3.0	2.0	1325	$3,750	$2.83	0d	1	0.74mi
819 S Ponderosa St Orange, CA	2.0	2.0	1300	$2,980	$2.29	45d	1	0.77mi
2243 E Santa Clara Ave Santa Ana, CA	1.0–2.0	1.0–2.0	991	$2,925	$2.95	26d	3	0.78mi
1600 Mabury St Santa Ana, CA	3.0	2.0	1480	$3,595	$2.43	45d	1	0.79mi
478 S Grand St Orange, CA	3.0	1.0	1066	$3,995	$3.75	12d	1	0.82mi
478 S Grand St Orange, CA	3.0	1.0	1066	$4,195	$3.94	17d	1	0.82mi
480 S Grand St Unit 478 Orange, CA	3.0	1.0	1066	$3,995	$3.75	7d	1	0.82mi
336 W La Veta Ave Unit D Orange, CA	2.0	2.0	1080	$2,750	$2.55	45d	1	0.92mi
850 W Town and Country Rd Orange, CA	3.0	1.0–2.0	1008	$3,753	$3.72	0d	21	0.93mi
408 W La Veta Ave Orange, CA	3.0	2.0	1439	$4,000	$2.78	45d	1	0.94mi
2311 Valencia St Santa Ana, CA	3.0	2.0	1422	$4,500	$3.16	0d	1	0.97mi
401 W La Veta Ave Orange, CA	2.0–3.0	2.0–2.5	1152	$2,595	$2.25	12d	6	0.98mi
817 E Palmyra Ave Orange, CA	2.0	2.0	1656	$3,000	$1.81	23d	1	1.00mi
1000 W Town and Country Rd Orange, CA	3.0	1.0–2.0	1008	$3,874	$3.84	0d	27	1.04mi
1055 W Town and Country Rd Orange, CA	1.0–3.0	1.0–2.0	1069	$3,575	$3.34	0d	1	1.07mi
301 E Jeanette Ln Santa Ana, CA	1.0–2.0	1.0–2.0	986	$3,650	$3.70	0d	8	1.10mi
2015 French St Santa Ana, CA	3.0	2.0	1482	$4,000	$2.70	23d	1	1.12mi
177 E City Place Dr Santa Ana, CA	3.0	2.5	1622	$4,800	$2.96	6d	1	1.14mi
1110 W Town and Country Rd Orange, CA	2.0	1.0–2.0	857	$3,885	$4.53	0d	26	1.15mi
327 S Wayfield St Orange, CA	3.0	2.0	1200	$3,900	$3.25	0d	1	1.21mi
1710 E Fruit St Santa Ana, CA	3.0	2.0	2000	$4,200	$2.10	26d	1	1.21mi
1235 W Town and Country Rd Orange, CA	1.0–2.0	1.0–2.0	922	$3,481	$3.77	0d	10	1.24mi
166 N Cambridge St Orange, CA	3.0	2.0	1100	$3,995	$3.63	18d	1	1.32mi
817 W Palmyra Ave Orange, CA	2.0	2.0	1656	$3,000	$1.81	22d	1	1.33mi
181 N Waverly St Orange, CA	3.0	2.0	1522	$4,900	$3.22	45d	1	1.35mi
2727 Mainplace Dr Santa Ana, CA	2.0	1.0–2.0	857	$3,806	$4.44	0d	24	1.38mi
227 N Cleveland St Orange, CA	3.0	2.0	1200	$5,295	$4.41	0d	1	1.39mi
137 S Parker St Orange, CA	2.0	2.0	1400	$3,600	$2.57	45d	1	1.41mi
250 N Cleveland St Orange, CA	3.0	1.0	1280	$4,500	$3.52	20d	1	1.43mi
243 N Grand St Orange, CA	3.0	2.0	1934	$4,950	$2.56	26d	1	1.44mi
268 N Grand St Orange, CA	3.0	2.0	1671	$4,795	$2.87	3d	1	1.47mi
264 N Grand St Unit 268N Orange, CA	3.0	2.0	1166	$4,795	$4.11	0d	1	1.48mi
281 N Grand St Orange, CA	3.0	2.0	1200	$3,500	$2.92	45d	1	1.49mi

Listing history 2 events

1. 2026-06-21
   remarks 687-char remark
2. 2026-06-21
   listed $420,000 Active 2 DOM

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥92°F today · 23 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: $43,958
• − Mortgage interest: −$23,527
• − Property taxes: −$6,300
• − Insurance: −$2,100
• − Repairs & maintenance: −$3,517
• − Management: −$3,517
• − Depreciation: −$12,218
• Taxable loss: −$7,220
• Est. tax savings @ 24.0%: +$1,733
• After-tax cash flow: $1,629/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: Orange Unified
• NCES district ID: 0628650
• Math proficiency: 39% ▼ -6.00%
• Reading proficiency: 60% ▲ 3.00%
• Median HH income: $83,557
• Composite: 45.5/100
• National rank: #2609
• State rank: #127 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): 48,781
• Household income: $129,331
• Rent vs Own: 38.7% rent · 61.3% own
• Severe rent burden: 1962.0

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: Hispanic / Latino 48% White 34% Two or more races 17% Asian 11% Black 1%
• Hispanic origin (detail): Mexican 42%
• Common ancestry: Lithuanian 2% Italian 1% Romanian 1%
• Foreign-born: 25% · Canada, Vietnam, China
• Languages at home: 53% English-only · Spanish 36% Other Indo-European 3% 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: ▼ -831.43%
• Current HPI: 453.5303
• Rent YoY: ▲ 3.72%
• 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

+133.5% since first listed

4 events — show timeline

• 2026-06-19 Listed $420,000 CRMLS
• 2014-12-17 Sold (MLS) $175,000 CRMLS
• 2014-11-21 Contingent — CRMLS
• 2014-11-03 Listed $179,900 CRMLS