32742 Alipaz St #75 · San Juan Capistrano, CA 92675

$669,900

3 bd · 2.0 ba · 1,500 sqft · Condo · 30 Days on market

Built 1972 $447/sqft · 60% above area $325/mo HOA · 6% of rent

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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 +12.9/30.0
• ARV discount +7.5/15.0
• Schools +5.7/10.0
• Rent growth +4.5/5.0
• DSCR +3.8/10.0
• Livability +3.8/5.0
• 1% rule +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

LOCATION, LOCATION. CORNER LOT WITH PLENTY OF PARKING AREA!! WELCOME TO THE HIGHLY DESIRABLE RANCHO DEL AVION COMMUNITY, WHERE THERE IS NO SPACE RENT AND A LOW HOA FEE FOR THIS PROPERTY AT ONLY $325 / MONTH. THIS IS A CORNER LOT GEM WITH THE FRONT YARD FENCED FOR PRIVACY THAT FEATURES A GENEROUS FRONT YARD SPACE WHICH ITS LARGER THAN MOST. IT IS ALSO ACROSS THE STREET FROM THE COMMUNITY CENTER. THIS SPECTACULAR OPPORTUNITY FEATURES: TWO ORIGINAL BEDROOMS, PLUS AN OVERSIZE LIVING ROOM THAT WAS SPLIT, AND HALF BEING USE AS AN ADDITIONAL BEDROOM WHILE MAINTAINING A GOOD SIZE LIVING ROOM, PLUS AN ADDITIONAL ENCLOSED PORCH WITH MULTIPLE INTERIOR-ACCESS THAT COULD BE USED AS A GAME ROOM/OFFICE OR FOR YOUR IMAGINATION, AN OPEN KITCHEN TO THE ROOMY DINNING AREA AND FAMILY ROOM. A FAMILY ROOM WITH OFFICE/WORKSTATION BUILT-IN DESK AND OVERHEAD STORAGE, PERFECT FOR HOME OFFICE WORK AREA. INSIDE-LAUNDRY ROOM/AREA CONVENIENTLY LOCATED NEXT TO KITCHEN. WOOD FLOORING, LAMINATE FLOORING AND TILE THROUGHOUT THE HOUSE. DRYWALL ON INTERIOR WALLS AND CEILING FAN AT DINING AREA. FIREPLACE IN LIVING ROOM FOR THOSE COLD NIGHTS TO CUDDLE WHILE ENJOYING A MOVIE. STORAGE SHED FOR THAT EXTRA STUFF, AT THE END OF THE DRIVEWAY. DRIVEWAY COULD FIT UP TO 3 CARS PLUS THERE IS PLENTY OF PARKING ON THE STREET. THIS WILL MAKE A GREAT PROPERTY FOR ANYONE IN NEED OF AMPLE PARKING OPTIONS AND INSIDE SPACE. THIS COMMUNITY IS BEACH CLOSE AND HAS ACCESS TO THE BIKE TRAIL THAT PROVIDES DIRECT ACCESS TO BEACH. COMMUNITY FEATURES A POOL, SPA, PLAYGROUND, BASKETBALL COURT, BILLIARD GAME ROOM, DOG AREA, A LARGE TOT-LOT FOR NEIGHBORHOOD CHILDREN AND A COMMUNITY CENTER AVAILABLE FOR EVENTS. RV STORAGE IS ALSO AVAILABLE, CURRENTLY AT $50/MO. CLOSE TO RIVER STREET MARKET PLACE, DANA POINT HARBOR, SCHOOLS, DINING, SHOPPING, ENTERTAINMENT, A NEW SJC SKATE PARK, ORGANIC FARM WITH CAFÉ-(ACROSS THE STREET FROM THIS COMMUNITY). THIS PROPERTY IS TRULY A UNIQUE OPPORTUNITY SELDOM AVAILABLE. HOMES IN THIS PARK GO FAST, DON’T WAIT, MAKE YOUR MOVE TODAY!!

Key facts

• Oversize living room
• Enclosed porch
• Fenced front yard

Tags

• CORNER LOT
• FENCED FRONT YARD
• OVERSIZE LIVING ROOM
• ENCLOSED PORCH
• OPEN KITCHEN
• INSIDE LAUNDRY ROOM

Property features AI

Finance

• Financial info: Land lease
• HOA & community: Part of an association with a monthly fee of $325; Community amenities include: pool, spa, clubhouse, sauna, playground, dog park, biking and hiking trails, barbecue, common RV parking, billiard room, other courts

Exterior

• Utilities: Electricity on property / electricity connected; Public/district water; Public sewer
• Home design: Manufactured house; Single-story (one level); Front and back entries; Entry level: 1
• Construction: No ADU; Year built: estimated; Living area source: estimated; No common walls (detached)
• Exterior features: Corner lot; No pool

Interior

• Kitchen: Free standing range; Gas range and gas oven; Dishwasher
• Bedrooms: 3 bedrooms on the main level; Primary bedroom with walk-in closet
• Flooring: Tile; Wood; Laminate
• Bathrooms: 2 full bathrooms; Bathrooms include bathtub, shower, shower-in-tub, and exhaust fan
• Heating & cooling: Forced air heating
• Interior features: Ceiling fan; Open floor plan with kitchen open to family room; Fireplace in living room
• Laundry & utility: Indoor laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $670k.

Deal economics

• At list price, monthly cash flow is $-176 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $639k (4.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $532k (20.6% below list).
• Recommended offer: $532k (20.6% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 2.3% in San Juan Capistrano — 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 75/100 on livability (#114 in CA, #4,023 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: health & safety D+, cost of living F.
• Capistrano Unified (suburban): math 50% / reading 72% proficiency, ranked #64 of 517 in CA (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Kinoshita Elementary (369 students, 90% FRL); Marco Forster Middle (math 24% / reading 24%, grade F, #277 of 498 statewide, top 73%, 1,082 students, 70% FRL); San Juan Hills High (math 50% / reading 75%, grade B-, #187 of 1,170 statewide, top 16%, 2,857 students, 35% FRL) — zoned schools average 65% FRL vs 19% district-wide (47 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 44% at this address vs 61% district-wide (-18 pts) — the specific schools serving this property underperform the Capistrano Unified average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+8.2%/yr); 106 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $20k 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 30 days — a 2% lower offer ($660k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 22y 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 $230k; list at $670k implies a 191% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $122/mo.
• Climate carrying-cost: in FEMA flood zone AO (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $531,884 (20.6% 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. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.79% ✗
• Cap rate: 6.20%
• Cash-on-cash: -0.34%
• DSCR: 0.98
• GRM: 10.5

CMA / ARV

• ARV (median comp): $417,593
• List price: $669,900
• Delta: 67.63%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -13.0%
• Equity multiple: 0.51×
• Total profit: $-91,705
• Equity at exit: $99,884

10-year hold

• IRR: 2.1%
• Equity multiple: 1.18×
• Total profit: $33,373
• Equity at exit: $57,921

Cash invested: $187,572 (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 92675

• Rents YoY: 8.2%
• Active inventory: 106
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $5,319 high
• Mortgage (P&I): −$3,513
• Tax from tax record: −$138 /mo · $1,657/yr
• Insurance: −$279
• Flood insurance flood zone: −$122 /mo · $1,468/yr
• HOA: −$325
• Vacancy / Maint / Mgmt: −$1,117
• Net cashflow: $-176

Break-even live

Break-even rent $5,541

Max offer price $638,873

Occupancy floor 98%

Sensitivity live

Price	-10% $204	-5% $14	+0% $-176	+5% $-365	+10% $-555
Rent	-10% $-596	-5% $-386	+0% $-176	+5% $34	+10% $245
Rate	-1.0pp $162	-0.5pp $-5	base $-176	+0.5pp $-349	+1.0pp $-526

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: $167,475
• Closing costs: $20,097
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
32951 Avenida del Rosal San Juan Capistrano, CA	3.0	1.5	1210	$5,200	$4.30	45d	1	0.67mi
33032 Driftwood Ct San Juan Capistrano, CA	3.0	2.0	1494	$5,199	$3.48	16d	1	0.76mi
25601 Purple Sage Ln San Juan Capistrano, CA	4.0	2.0	1724	$5,600	$3.25	20d	1	0.76mi
32083 Paseo Vibrante San Juan Capistrano, CA	4.0	3.5	2040	$5,500	$2.70	22d	1	0.92mi
33372 Breezy Pl Dana Point, CA	3.0	2.5	2000	$6,250	$3.12	5d	1	0.92mi
27377 Paseo Laguna San Juan Capistrano, CA	2.0	2.5	1198	$4,100	$3.42	6d	1	0.98mi
25251 Barque Way Dana Point, CA	3.0	2.0	1715	$6,000	$3.50	45d	1	1.11mi
33655 Breakwater Dr Dana Point, CA	3.0	3.0	1711	$4,850	$2.83	45d	1	1.17mi
18 Logo Vis Dana Point, CA	2.0	3.0	1878	$5,200	$2.77	20d	1	1.35mi
34101 Via California #39 San Juan Capistrano, CA	3.0	2.5	1642	$4,500	$2.74	3d	1	1.42mi
33371 Sea Bright Dr Dana Point, CA	4.0	2.0	1741	$5,600	$3.22	45d	1	1.47mi

HOA detail condo

• Monthly dues: $325 · $3,900/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-21
   days on market $669,900 Active 30 DOM
2. 2026-06-18
   days on market $669,900 Active 27 DOM
3. 2026-06-17
   days on market $669,900 Active 26 DOM
4. 2026-06-16
   days on market $669,900 Active 25 DOM
5. 2026-06-15
   days on market $669,900 Active 24 DOM
6. 2026-06-13
   days on market $669,900 Active 22 DOM
7. 2026-06-13
   days on market $669,900 Active 21 DOM
8. 2026-06-09
   days on market $669,900 Active 18 DOM
9. 2026-06-08
   days on market $669,900 Active 17 DOM
10. 2026-06-07
    days on market $669,900 Active 16 DOM
11. 2026-06-04
    days on market $669,900 Active 13 DOM
12. 2026-06-03
    days on market $669,900 Active 12 DOM
13. 2026-06-02
    days on market $669,900 Active 11 DOM
14. 2026-06-01
    days on market $669,900 Active 10 DOM
15. 2026-05-31
    days on market $669,900 Active 9 DOM
16. 2026-03-05
    price $699,999 2100-char remark
17. 2026-03-02
    listed $719,000 Active 2100-char remark
18. 2006-06-24
    historical
19. 2006-02-23
    listed $299,900
20. 2005-01-27
    soldstatus $230,000
21. 2004-09-27
    listed $249,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $1,657 · $138/mo
• Projected year-2 tax: $5,091 · $424/mo
• Expected delta: +$3,434/yr (+$286/mo · 207.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone AO · 24% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥90°F today · 24 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $63,826
• − Mortgage interest: −$37,525
• − Property taxes: −$1,657
• − Insurance: −$4,817
• − Repairs & maintenance: −$5,106
• − Management: −$5,106
• − HOA: −$3,900
• − Depreciation: −$19,488
• Taxable loss: −$13,773
• Est. tax savings @ 24.0%: +$3,305
• After-tax cash flow: $1,198/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: Capistrano Unified
• NCES district ID: 0607440
• Math proficiency: 50% ▼ -11.00%
• Reading proficiency: 72% ▲ 2.00%
• Median HH income: $99,673
• Composite: 56.56/100
• National rank: #1147
• State rank: #64 of 517 in CA

Livability — San Juan Capistrano

• Score: 75/100
• State rank: #114
• US rank: #4023

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: San Juan Capistrano, CA
• County: Orange County · 3,096,323 people
• City population: 35,095
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 35,095
• Household income: $129,457
• Rent vs Own: 19.0% rent · 81.0% own
• Severe rent burden: 648.0

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 0.58)
• Race & ethnicity: White 54% Hispanic / Latino 37% Two or more races 18% Asian 4%
• Hispanic origin (detail): Mexican 32%
• Common ancestry: Romanian 3% Italian 3% Serbian 2%
• Foreign-born: 19% · Canada, China, Jamaica
• Languages at home: 67% English-only · Spanish 29% Chinese 1% Other Indo-European 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: ▼ -1003.11%
• Current HPI: 410.383
• Rent YoY: ▲ 8.20%
• 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

+168.1% since first listed

9 events — show timeline

• 2026-05-22 Listed $669,900 CRMLS
• 2026-05-22 Listed $669,900 CRMLS
• 2026-05-21 Listing Removed — CRMLS
• 2026-03-05 Price Changed $699,999 CRMLS
• 2026-03-02 Listed $719,000 CRMLS
• 2006-06-24 Listing Removed — CRMLS
• 2006-02-23 Listed $299,900 CRMLS
• 2005-01-27 Sold (MLS) $230,000 CRMLS
• 2004-09-27 Listed $249,900 CRMLS

Property tax history

-0.3%/yr

Latest (2025): $1,657 · +1.6% YoY. Source: county tax records.