9800 Bolsa Ave #88 · Westminster, CA 92683

$230,000

2 bd · 2.0 ba · 1,440 sqft · Manufactured · 5 Days on market

Built 1973 14 ac lot Est $160k · 44% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.5/10.0
• Livability +3.1/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Wow! Incredible opportunity to live in an awesome 55 and older park in the heart of Little Saigon. Located in beautiful Kensington Gardens, this well-maintained, clean 2 bedroom, 2 bathroom has over 1400 sq ft on a large lot. It features an open floor plan, newer laminate flooring, and AC. There is a great master suite with tons of closet space and dressing area. The home comes with all the kitchen appliances plus washer and dryer. There is a large covered patio great for relaxation. There is also 2 enclosed storage units and covered parking for up to 3 cars. Hurry on this home, it will sell quick!

Key facts

• Relaxing spa
• 14.27 acre lot
• 3 parking spots

Tags

• SPARKLING SWIMMING POOL
• RELAXING SPA
• WELCOMING COMMUNITY CLUBHOUSE
• CENTRAL AIR CONDITIONING
• MASSIVE PRIMARY SUITE
• DEDICATED DRESSING AREA

Property features AI

Finance

• Other: Living area source: estimated; Elevation units reported in feet; Directions: Bolsa Ave and Bushard St
• HOA & community: Senior community; Curbs and suburban neighborhood setting; Park name: Kensington Gardens Mobilehome Park; Land lease: $1,442.79 per month (park)

Exterior

• Parking: Carport parking; 3 parking/carport spaces
• Utilities: Public/district water; Sewer or septic - unknown
• Home design: Manufactured/mobile home (24' x 60') — mobile home remains; Single-story; Double body type
• Construction: Year built: estimated
• Exterior features: Shed (2 on property); Association/in-ground community pool; Close to clubhouse

Interior

• Kitchen: Gas cooktop; Gas oven; Dishwasher; Garbage disposal
• Bedrooms: Primary bedroom on the main floor; Main floor bedroom; Primary suite with primary bathroom
• Bathrooms: 2 full bathrooms; Bathtub
• Heating & cooling: Central furnace heating; Central air conditioning
• Interior features: One-level home; Entry on main level; Community spa
• Laundry & utility: Inside laundry; Washer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $230k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $230k).
• Cap rate 12.5% vs local median 2.0% 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.

Location & tenants

• 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.
• 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: Rents rising (+2.0%/yr); 87 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 $3,516/mo this rent would consume 49% of the median local household income ($86k/yr) (locally 4639% 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 + 2.0% rent growth), your $64k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 9y 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 $80k; list at $230k implies a 188% gain — meaningful room to come down on a strong offer.

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 $230,000

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.53% ✓
• Cap rate: 12.49%
• Cash-on-cash: 22.14%
• DSCR: 1.99
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $159,840
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9800 BOLSA Ave #14	0.11mi	2/2.0	1,440 (0%)	5mo	$158,000	$110	91
9800 Bolsa #79	0.11mi	2/2.0	1,440 (0%)	5mo	$207,000	$144	90
10200 Bolsa #126	0.43mi	2/2.0	1,440 (0%)	1mo	$155,000	$108	79
10200 Bolsa Ave #91	0.43mi	2/2.0	1,440 (0%)	1mo	$107,000	$74	79
9800 BOLSA #48	0.11mi	2/2.0	1,536 (+7%)	5mo	$142,500	$93	79
10200 Bolsa #69	0.43mi	2/2.0	1,440 (0%)	3mo	$158,000	$110	77
9851 Bolsa Ave #196	0.27mi	3/2.0 (+1)	1,420 (-1%)	5mo	$400,000	$282	76
9702 Bolsa Ave #189	0.15mi	3/2.0 (+1)	1,314 (-9%)	1mo	$335,000	$255	72
9851 Bolsa Ave #198	0.27mi	3/3.0 (+1)	1,458 (+1%)	6mo	$380,000	$261	71
10200 Bolsa Ave Spc 85	0.43mi	3/2.0 (+1)	1,440 (0%)	8mo	$160,000	$111	68
15300 MAGNOLIA #94	0.73mi	2/2.0	1,440 (0%)	2mo	$200,000	$139	65
15300 MAGNOLIA St #101	0.73mi	2/2.0	1,440 (0%)	10mo	$110,000	$76	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 · 2.01% rent growth · sell at horizon

5-year hold

• IRR: 13.8%
• Equity multiple: 1.54×
• Total profit: $34,989
• Equity at exit: $34,294

10-year hold

• IRR: 21.8%
• Equity multiple: 2.77×
• Total profit: $114,174
• Equity at exit: $19,886

Cash invested: $64,400 (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 92683

• Rents YoY: 2.0%
• Active inventory: 87
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $3,516 high
• Mortgage (P&I): −$1,206
• Tax est. 1.5%: −$288 /mo · $3,450/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$738
• Net cashflow: $1,188

Break-even live

Break-even rent $2,012

Max offer price $230,000

Occupancy floor 61%

Sensitivity live

Price	-10% $1,347	-5% $1,268	+0% $1,188	+5% $1,109	+10% $1,029
Rent	-10% $910	-5% $1,049	+0% $1,188	+5% $1,327	+10% $1,466
Rate	-1.0pp $1,304	-0.5pp $1,247	base $1,188	+0.5pp $1,129	+1.0pp $1,068

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15123 Brookhurst St Westminster, CA	2.0	1.0–2.0	705	$2,940	$4.17	2d	5	0.12mi
15400 Belgrade St Westminster, CA	1.0–2.0	1.0–2.0	888	$2,950	$3.32	44d	4	0.25mi
15100 Brookhurst St Unit 327 Westminster, CA	2.0	2.0	1254	$4,490	$3.58	12d	1	0.27mi
15100 Brookhurst St Westminster, CA	2.0	2.0	1254	$4,828	$3.85	12d	1	0.28mi
9551 Robin Ave Westminster, CA	3.0	2.0	1302	$4,000	$3.07	44d	1	0.37mi
15100 Moran St Westminster, CA	1.0–2.0	1.0–2.0	1204	$3,847	$3.19	2d	8	0.46mi
9869 Bria Ln Garden Grove, CA	2.0	2.5	1780	$3,995	$2.24	2d	1	0.80mi
15951 Los Reyes St Unit A Fountain Valley, CA	3.0	2.0	1000	$3,100	$3.10	44d	1	1.19mi
5313 W Lehnhardt Ave Santa Ana, CA	3.0	2.0	1750	$4,700	$2.69	44d	1	1.32mi
10500 Westminster Ave Garden Grove, CA	1.0–3.0	1.0–2.0	1001	$2,525	$2.52	15d	5	1.32mi
10500 Westminster Ave Unit 9 Garden Grove, CA	2.0	1.0	992	$2,595	$2.62	5d	1	1.32mi
10956 Obsidian Ct Fountain Valley, CA	3.0	1.5	1388	$3,500	$2.52	19d	1	1.43mi
10402 Bowen Cir Garden Grove, CA	3.0	2.0	1219	$3,900	$3.20	44d	1	1.45mi

Listing history 6 events

1. 2026-06-18
   days on market $230,000 Active 5 DOM
2. 2026-06-17
   days on market $230,000 Active 4 DOM
3. 2026-06-16
   days on market $230,000 Active 3 DOM
4. 2026-06-15
   days on market $230,000 Active 2 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   listed $230,000 Active 1 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥88°F today · 22 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,192
• − Mortgage interest: −$12,884
• − Property taxes: −$3,450
• − Insurance: −$1,150
• − Repairs & maintenance: −$3,375
• − Management: −$3,375
• − Depreciation: −$6,691
• Taxable income: $11,267
• Est. tax owed @ 24.0%: −$2,704
• After-tax cash flow: $11,554/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 — Westminster

• Score: 62/100
• State rank: #509
• US rank: #17242

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Westminster, CA
• County: Orange County · 3,096,323 people
• City population: 89,833
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 89,833
• Household income: $85,585
• Rent vs Own: 46.5% rent · 53.5% own
• Severe rent burden: 4639.0

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: Asian 51% Hispanic / Latino 24% White 20% Two or more races 9%
• Hispanic origin (detail): Mexican 20%
• Common ancestry: Slovak 1% Portuguese 1% Lithuanian 1%
• Foreign-born: 46% · Vietnam, Canada, China
• Languages at home: 35% English-only · Vietnamese 40% Spanish 18% 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: ▼ -917.95%
• Current HPI: 410.3463
• Rent YoY: ▲ 2.01%
• 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

+187.5% since first listed

5 events — show timeline

• 2026-06-13 Listed $230,000 CRMLS
• 2026-06-13 Coming Soon $230,000 CRMLS
• 2017-10-17 Sold (MLS) $80,000 CRMLS
• 2017-09-28 Pending — CRMLS
• 2017-09-19 Listed $80,000 CRMLS

Property tax history

-0.1%/yr

Latest (2025): $72 · -0.1% YoY. Source: county tax records.