15300 Magnolia #109 · Westminster, CA 92683

$199,000

2 bd · 2.0 ba · 1,440 sqft · Manufactured · 69 Days on market

Built 1972 $138/sqft · at area comps Est $204k · at est.

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +8.5/15.0
• Schools +4.5/10.0
• Livability +3.1/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Very nice senior mobile home situated on a corner lot. It is a 2 BR, 2BA, 1440 Sqft home with central heating and air conditioning, inside laundry and comes furnished with a washer, dryer and refrigerator. The kitchen has been upgraded and includes granite counter tops. Both bathrooms have also been upgraded. The outside porch is upgraded and can be used for entertainment. The community includes a clubhouse with a pool. You can walk to the Garden Asian Mall and the ABC Vietnamese supermarket. This is a senior mobile park. You have to be 55 years or older and the family members have to be over 40. The combined family income has to be 3 times the space rent of $1900 a month. You will love this home and can make it your dream retirement home.

Key facts

• Clubhouse
• Upgraded porch
• Upgraded kitchen

Tags

• CORNER LOT
• UPGRADED KITCHEN
• GRANITE COUNTER TOPS
• UPGRADED BATHROOMS
• UPGRADED PORCH
• CLUBHOUSE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $199k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $199k).
• Recommended offer: $187k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.3% vs local median 1.9% 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); 90 active listings in the ZIP; 14 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 $3,432/mo this rent would consume 48% 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 $1k of loan paydown is wiped out by about $6k 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 $56k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 18y ago; this cycle's ask has dropped $19k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $150k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $187,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.72% ✓
• Cap rate: 14.35%
• Cash-on-cash: 28.77%
• DSCR: 2.28
• GRM: 4.8

CMA / ARV

• ARV (median comp): $203,500
• List price: $199,000
• Delta: -2.21%
• Verdict: FAIR
• Comps: 16 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15300 MAGNOLIA #94	0.00mi	2/2.0	1,440 (0%)	2mo	$200,000	$139	99
15300 MAGNOLIA St #101	0.00mi	2/2.0	1,440 (0%)	10mo	$110,000	$76	92
15300 MAGNOLIA St #98	0.01mi	2/2.0	1,440 (0%)	17mo	$110,000	$76	85
15300 Magnolia St #47	0.00mi	2/2.0	1,440 (0%)	23mo	$120,000	$83	81
15300 MAGNOLIA St #107	0.00mi	2/2.0	1,392 (-3%)	18mo	$150,000	$108	80
9350 Bolsa Ave #24	0.38mi	3/2.0 (+1)	1,417 (-2%)	22mo	$280,000	$198	56
15111 Bushard St #32	0.44mi	2/2.0	1,344 (-7%)	17mo	$180,000	$134	54
9702 Bolsa Ave #22	0.59mi	3/2.0 (+1)	1,440 (0%)	17mo	$280,000	$194	54
9702 Bolsa Ave #189	0.59mi	3/2.0 (+1)	1,314 (-9%)	1mo	$335,000	$255	52
9800 BOLSA #54	0.73mi	2/2.5	1,392 (-3%)	10mo	$110,000	$79	50
9800 BOLSA #30	0.73mi	2/2.5	1,368 (-5%)	10mo	$199,999	$146	47

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: 22.0%
• Equity multiple: 1.89×
• Total profit: $49,516
• Equity at exit: $29,672

10-year hold

• IRR: 29.4%
• Equity multiple: 3.50×
• Total profit: $139,285
• Equity at exit: $17,206

Cash invested: $55,720 (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: 90
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $3,432 high
• Mortgage (P&I): −$1,044
• Tax est. 1.5%: −$249 /mo · $2,985/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$721
• Net cashflow: $1,336

Break-even live

Break-even rent $1,741

Max offer price $199,000

Occupancy floor 56%

Sensitivity live

Price	-10% $1,474	-5% $1,405	+0% $1,336	+5% $1,267	+10% $1,199
Rent	-10% $1,065	-5% $1,201	+0% $1,336	+5% $1,472	+10% $1,607
Rate	-1.0pp $1,436	-0.5pp $1,387	base $1,336	+0.5pp $1,285	+1.0pp $1,232

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15100 Moran St Westminster, CA	1.0–2.0	1.0–2.0	1080	$3,768	$3.49	0d	7	0.32mi
9551 Robin Ave Westminster, CA	3.0	2.0	1302	$4,000	$3.07	44d	1	0.49mi
14846 Brownstone Ln Westminster, CA	3.0	2.5	1454	$3,600	$2.48	0d	1	0.63mi
15400 Belgrade St Westminster, CA	1.0–2.0	1.0–2.0	888	$2,950	$3.32	44d	4	0.80mi
15123 Brookhurst St Westminster, CA	2.0	1.0–2.0	705	$2,940	$4.17	0d	5	0.83mi
15100 Brookhurst St Unit 327 Westminster, CA	2.0	2.0	1254	$3,996	$3.19	0d	1	0.99mi
8400 Edinger Ave Huntington Beach, CA	2.0	1.0–2.0	778	$3,007	$3.87	0d	12	1.00mi
15100 Brookhurst St Westminster, CA	2.0	2.0	1254	$4,828	$3.85	13d	1	1.00mi
8041 Worthy Dr Westminster, CA	2.0	1.0	900	$2,700	$3.00	2d	1	1.03mi
16121 Malaga Ln Unit D Huntington Beach, CA	2.0	2.0	1000	$2,800	$2.80	2d	1	1.22mi
16400 Dana Cir Westminster, CA	3.0	2.0	1266	$4,900	$3.87	0d	1	1.25mi
9869 Bria Ln Garden Grove, CA	2.0	2.5	1780	$3,995	$2.24	3d	1	1.29mi
7942 Stark Dr Huntington Beach, CA	2.0	2.0	1000	$2,495	$2.50	16d	1	1.40mi
8810 Hewitt Pl #22 Garden Grove, CA	2.0	2.5	1025	$3,200	$3.12	0d	1	1.49mi

Listing history 32 events

1. 2026-06-21
   days on market $199,000 Active 69 DOM
2. 2026-06-18
   days on market $199,000 Active 66 DOM
3. 2026-06-17
   days on market $199,000 Active 65 DOM
4. 2026-06-16
   days on market $199,000 Active 64 DOM
5. 2026-06-15
   days on market $199,000 Active 63 DOM
6. 2026-06-13
   days on market $199,000 Active 61 DOM
7. 2026-06-13
   days on market $199,000 Active 60 DOM
8. 2026-06-09
   days on market $199,000 Active 57 DOM
9. 2026-06-08
   days on market $199,000 Active 56 DOM
10. 2026-06-07
    days on market $199,000 Active 55 DOM
11. 2026-06-04
    days on market $199,000 Active 52 DOM
12. 2026-06-03
    days on market $199,000 Active 51 DOM
13. 2026-06-02
    days on market $199,000 Active 50 DOM
14. 2026-06-02
    price $199,000 Active 49 DOM
15. 2026-06-01
    days on market $218,000 Active 49 DOM
16. 2026-05-31
    days on market $218,000 Active 48 DOM
17. 2026-04-13
    listed $218,000 Active 750-char remark

    Show marketing remark (750 chars)

    Very nice senior mobile home situated on a corner lot. It is a 2 BR, 2BA, 1440 Sqft home with central heating and air conditioning, inside laundry and comes furnished with a washer, dryer and refrigerator. The kitchen has been upgraded and includes granite counter tops. Both bathrooms have also been upgraded. The outside porch is upgraded and can be used for entertainment. The community includes a clubhouse with a pool. You can walk to the Garden Asian Mall and the ABC Vietnamese supermarket. This is a senior mobile park. You have to be 55 years or older and the family members have to be over 40. The combined family income has to be 3 times the space rent of $1900 a month. You will love this home and can make it your dream retirement home.

18. 2024-09-04
    soldstatus $150,000 Closed Sale 474-char remark

    Show marketing remark (474 chars)

    VERY NICE SENIOR MOBILE HOME IN MOVE IN CONDITION WITH 2BR, 2BA, 1440 SQFT, CENTRAL HEATING AND AIR CONDITIONING, INSIDE LAUNDRY , AND BEAUTIFULLY UPGRADED KITCHEN WITH GRANITE COUNTER TOP. HOUSE ALSO COMES WITH WASHER, DRYER, AND FRIDGE. THIS IS YOUR PERFECT RETIREMENT HOME. YOU CAN GO SWIMMING EVERYDAY IN THE SPARKLING POOL, ENJOY DONUTS IN THE BEAUTIFUL CLUBHOUSE EVERY THURSDAY AND WATCH THE FOURTH OF JULY FIREWORKS FROM YOUR OWN FRONT PATIO! MORE PICTURES TO FOLLOW!

19. 2024-08-19
    status Pending Sale 474-char remark

    Show marketing remark (474 chars)

    VERY NICE SENIOR MOBILE HOME IN MOVE IN CONDITION WITH 2BR, 2BA, 1440 SQFT, CENTRAL HEATING AND AIR CONDITIONING, INSIDE LAUNDRY , AND BEAUTIFULLY UPGRADED KITCHEN WITH GRANITE COUNTER TOP. HOUSE ALSO COMES WITH WASHER, DRYER, AND FRIDGE. THIS IS YOUR PERFECT RETIREMENT HOME. YOU CAN GO SWIMMING EVERYDAY IN THE SPARKLING POOL, ENJOY DONUTS IN THE BEAUTIFUL CLUBHOUSE EVERY THURSDAY AND WATCH THE FOURTH OF JULY FIREWORKS FROM YOUR OWN FRONT PATIO! MORE PICTURES TO FOLLOW!

20. 2024-08-01
    historical Active Under Contract 474-char remark

    Show marketing remark (474 chars)

    VERY NICE SENIOR MOBILE HOME IN MOVE IN CONDITION WITH 2BR, 2BA, 1440 SQFT, CENTRAL HEATING AND AIR CONDITIONING, INSIDE LAUNDRY , AND BEAUTIFULLY UPGRADED KITCHEN WITH GRANITE COUNTER TOP. HOUSE ALSO COMES WITH WASHER, DRYER, AND FRIDGE. THIS IS YOUR PERFECT RETIREMENT HOME. YOU CAN GO SWIMMING EVERYDAY IN THE SPARKLING POOL, ENJOY DONUTS IN THE BEAUTIFUL CLUBHOUSE EVERY THURSDAY AND WATCH THE FOURTH OF JULY FIREWORKS FROM YOUR OWN FRONT PATIO! MORE PICTURES TO FOLLOW!

21. 2024-07-29
    listed $159,000 Active 474-char remark

    Show marketing remark (474 chars)

    VERY NICE SENIOR MOBILE HOME IN MOVE IN CONDITION WITH 2BR, 2BA, 1440 SQFT, CENTRAL HEATING AND AIR CONDITIONING, INSIDE LAUNDRY , AND BEAUTIFULLY UPGRADED KITCHEN WITH GRANITE COUNTER TOP. HOUSE ALSO COMES WITH WASHER, DRYER, AND FRIDGE. THIS IS YOUR PERFECT RETIREMENT HOME. YOU CAN GO SWIMMING EVERYDAY IN THE SPARKLING POOL, ENJOY DONUTS IN THE BEAUTIFUL CLUBHOUSE EVERY THURSDAY AND WATCH THE FOURTH OF JULY FIREWORKS FROM YOUR OWN FRONT PATIO! MORE PICTURES TO FOLLOW!

22. 2009-08-21
    historical
23. 2009-06-15
    price $65,000
24. 2009-06-11
    price $76,126
25. 2009-04-14
    price $79,126
26. 2009-04-13
    price $82,126
27. 2009-03-07
    price $84,888
28. 2009-02-21
    listed $89,888
29. 2009-02-20
    historical
30. 2009-01-16
    price
31. 2008-12-18
    price
32. 2008-12-17
    listed

ⓘ 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 · 23 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: $41,185
• − Mortgage interest: −$11,147
• − Property taxes: −$2,985
• − Insurance: −$995
• − Repairs & maintenance: −$3,295
• − Management: −$3,295
• − Depreciation: −$5,789
• Taxable income: $13,679
• Est. tax owed @ 24.0%: −$3,283
• After-tax cash flow: $12,750/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

+142.5% since first listed

16 events — show timeline

• 2026-04-13 Listed $218,000 CRMLS
• 2024-09-04 Sold (MLS) $150,000 CRMLS
• 2024-08-19 Pending — CRMLS
• 2024-08-01 Contingent — CRMLS
• 2024-07-29 Listed $159,000 CRMLS
• 2009-08-21 Listing Removed — CRMLS
• 2009-06-15 Price Changed $65,000 CRMLS
• 2009-06-11 Price Changed $76,126 CRMLS
• 2009-04-14 Price Changed $79,126 CRMLS
• 2009-04-13 Price Changed $82,126 CRMLS
• 2009-03-07 Price Changed $84,888 CRMLS
• 2009-02-21 Listed $89,888 CRMLS
• 2009-02-20 Delisted — TheMLS
• 2009-01-16 Price Changed — TheMLS
• 2008-12-18 Price Changed — TheMLS
• 2008-12-17 Listed — TheMLS

Property tax history

-2.3%/yr

Latest (2025): $95 · -0.1% YoY. Source: county tax records.