2767 W 1st #12 · Santa Ana, CA 92703

$119,888

1 bd · 1.0 ba · 585 sqft · Manufactured · 97 Days on market

Built 2022 Good condition 4.60 ac lot $205/sqft · 40% above area Est $86k · 40% over ↓ 8% since listing

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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
• Condition / age +3.8/5.0
• Livability +2.8/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Conveniently located near the intersection of Fairview St and W 1st St in the heart of Santa Ana, this home offers easy access to shopping, dining, and everyday conveniences. The community is close to local parks including Jerome Park and Cesar Chavez Park, as well as nearby schools within the Santa Ana Unified School District. Residents enjoy quick access to the 22 Freeway for an easy commute throughout Orange County, with additional retail centers, restaurants, and services just minutes away. * Interior photos have been edited with AI for furniture removal.

Key facts

• Close to local parks
• Nearby schools
• 4.6 acre lot

Tags

• EASY ACCESS TO SHOPPING
• EASY ACCESS TO DINING
• CLOSE TO LOCAL PARKS
• QUICK ACCESS TO 22 FREEWAY
• NEARBY SCHOOLS

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $120k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $938 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $109k (9.0% below list) — sets the bar for market timing.
• Cap rate 15.7% 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.
• Santa Ana Unified (urban): math 23% / reading 37% proficiency, ranked #329 of 517 in CA (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 83% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Greenville Fundamental Elementary (math 32% / reading 36%, grade F, #755 of 1,571 statewide, top 49%, 907 students, 66% FRL); Gonzalo Felicitas Mendez Fundamental Intermediate (1,293 students, 76% FRL); Valley High (math 15% / reading 38%, grade F, #804 of 1,170 statewide, top 69%, 2,197 students, 73% FRL).
• Market conditions: 60 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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).
• This rent runs 32% of the median local income ($84k/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 $829 of loan paydown is wiped out by about $4k 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 + 3.0% rent growth), your $34k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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.

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 $109,098 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% 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 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?
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: 1.87% ✓
• Cap rate: 15.68%
• Cash-on-cash: 33.53%
• DSCR: 2.49
• GRM: 4.5

CMA / ARV

• ARV (median comp): $85,669
• List price: $119,888
• Delta: 39.94%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 28.8%
• Equity multiple: 2.20×
• Total profit: $40,352
• Equity at exit: $17,876

10-year hold

• IRR: 36.2%
• Equity multiple: 4.34×
• Total profit: $112,207
• Equity at exit: $10,366

Cash invested: $33,569 (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 92703

• Active inventory: 60
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $2,236 high
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,798/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$470
• Net cashflow: $938

Break-even live

Break-even rent $1,049

Max offer price $119,888

Occupancy floor 53%

Sensitivity live

Price	-10% $1,021	-5% $979	+0% $938	+5% $897	+10% $855
Rent	-10% $761	-5% $850	+0% $938	+5% $1,026	+10% $1,115
Rate	-1.0pp $998	-0.5pp $969	base $938	+0.5pp $907	+1.0pp $875

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: $29,972
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3200 W 5th St Santa Ana, CA	1.0–2.0	1.0–2.0	769	$2,978	$3.87	0d	9	0.36mi
1905 W Myrtle St Unit 3 Santa Ana, CA	2.0	1.0	750	$2,350	$3.13	45d	1	0.68mi
2701 W McFadden Ave Unit 108 Santa Ana, CA	1.0	1.0	480	$2,295	$4.78	26d	1	0.72mi
2701 W McFadden Ave Apt 107 Santa Ana, CA	1.0	1.0	480	$2,095	$4.36	26d	1	0.72mi
2701 W McFadden Ave Unit 84 Santa Ana, CA	1.0	1.0	480	$2,360	$4.92	26d	1	0.73mi
2701 W McFadden Ave Santa Ana, CA	1.0	1.0	480	$2,228	$4.64	16d	3	0.73mi
2701 W McFadden Ave Unit 18 Santa Ana, CA	1.0	1.0	480	$2,385	$4.97	0d	1	0.77mi
3900 W 5th St Santa Ana, CA	1.0–2.0	1.0–2.0	780	$2,175	$2.79	14d	1	0.93mi
1610 N King St Santa Ana, CA	1.0–2.0	1.0–2.0	808	$1,790	$2.22	45d	1	1.01mi
901 S Harbor Blvd Unit 0167 Santa Ana, CA	—	1.0	386	$1,830	$4.74	0d	1	1.05mi
901 S Harbor Blvd Apt 247 Santa Ana, CA	1.0	1.0	516	$2,215	$4.29	13d	1	1.05mi
901 S Harbor Blvd Unit 0136 Santa Ana, CA	1.0	1.0	516	$2,055	$3.98	0d	1	1.05mi
901 S Harbor Blvd Unit 109 Santa Ana, CA	—	1.0	386	$1,940	$5.03	45d	1	1.05mi
901 S Harbor Blvd Unit 340 Santa Ana, CA	1.0	1.0	516	$2,180	$4.22	26d	1	1.05mi
901 S Harbor Blvd Unit 146 Santa Ana, CA	—	1.0	386	$1,895	$4.91	5d	1	1.05mi
901 S Harbor Blvd Unit 130 Santa Ana, CA	—	1.0	386	$1,855	$4.81	45d	1	1.05mi
901 S Harbor Blvd Unit 0133 Santa Ana, CA	1.0	1.0	516	$2,180	$4.22	0d	1	1.05mi
901 S Harbor Blvd Unit 0251 Santa Ana, CA	1.0	1.0	516	$2,185	$4.23	0d	1	1.05mi
901 S Harbor Blvd Unit 0161 Santa Ana, CA	—	1.0	386	$1,885	$4.88	45d	1	1.05mi
901 S Harbor Blvd Unit 0307 Santa Ana, CA	1.0	1.0	516	$2,260	$4.38	45d	1	1.05mi
1806 N Fairview St Unit Q Santa Ana, CA	1.0	1.0	693	$2,526	$3.65	26d	1	1.07mi
4200 W 1st St Santa Ana, CA	1.0–2.0	1.0–2.0	714	$2,239	$3.13	0d	5	1.13mi
3630 Westminster Ave Santa Ana, CA	1.0	1.0	696	$2,508	$3.60	23d	1	1.14mi
2111 W 17th St Santa Ana, CA	1.0–2.0	1.0–2.0	756	$2,410	$3.19	0d	7	1.15mi
1500 N Harbor Blvd Santa Ana, CA	1.0–2.0	1.0–2.0	780	$2,575	$3.30	16d	1	1.22mi
225 S Newhope St Santa Ana, CA	1.0–2.0	1.0–2.0	822	$1,863	$2.27	0d	2	1.27mi
1307 W 9th St Santa Ana, CA	1.0	1.0	440	$1,400	$3.18	23d	1	1.28mi
623 N Bristol St Santa Ana, CA	1.0	1.0	708	$2,300	$3.25	26d	1	1.31mi
631 N Bristol St #66 Santa Ana, CA	1.0	1.0	630	$2,500	$3.97	45d	1	1.31mi
2417 W Stanford St Santa Ana, CA	2.0	1.0	700	$3,200	$4.57	26d	1	1.36mi
1114 W Santa Ana Blvd Santa Ana, CA	2.0	2.0	725	$2,700	$3.72	45d	4	1.41mi
1214 W Brook St Apt E Santa Ana, CA	1.0	1.0	540	$1,750	$3.24	45d	1	1.46mi

Listing history 27 events

1. 2026-06-21
   days on market $119,888 Active 97 DOM
2. 2026-06-18
   days on market $119,888 Active 94 DOM
3. 2026-06-17
   days on market $119,888 Active 93 DOM
4. 2026-06-16
   days on market $119,888 Active 92 DOM
5. 2026-06-15
   days on market $119,888 Active 91 DOM
6. 2026-06-13
   days on market $119,888 Active 89 DOM
7. 2026-06-13
   days on market $119,888 Active 88 DOM
8. 2026-06-09
   days on market $119,888 Active 85 DOM
9. 2026-06-08
   days on market $119,888 Active 84 DOM
10. 2026-06-07
    days on market $119,888 Active 83 DOM
11. 2026-06-04
    days on market $119,888 Active 80 DOM
12. 2026-06-03
    days on market $119,888 Active 79 DOM
13. 2026-06-02
    days on market $119,888 Active 78 DOM
14. 2026-06-01
    days on market $119,888 Active 77 DOM
15. 2026-05-31
    days on market $119,888 Active 76 DOM
16. 2026-03-16
    listed $119,888 Active 566-char remark

    Show marketing remark (566 chars)

    Conveniently located near the intersection of Fairview St and W 1st St in the heart of Santa Ana, this home offers easy access to shopping, dining, and everyday conveniences. The community is close to local parks including Jerome Park and Cesar Chavez Park, as well as nearby schools within the Santa Ana Unified School District. Residents enjoy quick access to the 22 Freeway for an easy commute throughout Orange County, with additional retail centers, restaurants, and services just minutes away. * Interior photos have been edited with AI for furniture removal.

17. 2024-07-23
    historical
18. 2024-05-15
    price $99,900
19. 2024-05-13
    listed $109,900 Active
20. 2024-04-17
    historical
21. 2023-12-18
    price $109,900
22. 2023-09-19
    price $117,500
23. 2023-08-07
    price $118,500
24. 2023-05-12
    price $119,900
25. 2023-04-19
    listed $129,900 Active
26. 2023-04-19
    listed $129,900 Active
27. 2023-04-19
    historical

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥89°F today · 22 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: $26,834
• − Mortgage interest: −$6,716
• − Property taxes: −$1,798
• − Insurance: −$599
• − Repairs & maintenance: −$2,147
• − Management: −$2,147
• − Depreciation: −$3,488
• Taxable income: $9,940
• Est. tax owed @ 24.0%: −$2,386
• After-tax cash flow: $8,871/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 condition score of 75. It has a cosmetic rehab level and requires minor maintenance and repairs. The highest-ROI updates would be painting the exterior siding and replacing the ceiling fan to enhance curb appeal and add value for both resale and rental.

Value-add opportunities

• Both Paint the exterior siding — Enhances curb appeal and adds value for both resale and rental.
• Both Replace the ceiling fan — Improves air circulation and adds a modern touch.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior siding — Enhances curb appeal and adds value for both resale and rental. ↑
• Both Replace the ceiling fan — Improves air circulation and adds a modern touch. ↑

ⓘ 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: Santa Ana Unified
• NCES district ID: 0635310
• Math proficiency: 23% ▼ -2.00%
• Reading proficiency: 37% ▲ 5.00%
• Median HH income: $55,752
• Composite: 26.7/100
• National rank: #7152
• State rank: #329 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): 62,447
• Household income: $84,437
• Rent vs Own: 49.0% rent · 51.0% own
• Severe rent burden: 1835.0

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: Predominantly Hispanic (77%)
• Race & ethnicity: Hispanic / Latino 77% Two or more races 19% Asian 16% White 5% Native American 2%
• Hispanic origin (detail): Mexican 72%
• Common ancestry: Iranian 1%
• Foreign-born: 47% · Canada, Vietnam, China
• Languages at home: 17% English-only · Spanish 68% Vietnamese 13% Other Asian/Pacific 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: ▼ -666.61%
• Current HPI: 458.1824
• Rent YoY: —
• 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

-7.7% since first listed

12 events — show timeline

• 2026-03-16 Listed $119,888 CRMLS
• 2024-07-23 Listing Removed — CRMLS
• 2024-05-15 Price Changed $99,900 CRMLS
• 2024-05-13 Listed $109,900 CRMLS
• 2024-04-17 Listing Removed — CRMLS
• 2023-12-18 Price Changed $109,900 CRMLS
• 2023-09-19 Price Changed $117,500 CRMLS
• 2023-08-07 Price Changed $118,500 CRMLS
• 2023-05-12 Price Changed $119,900 CRMLS
• 2023-04-19 Listing Removed — CRMLS
• 2023-04-19 Listed $129,900 CRMLS
• 2023-04-19 Listed $129,900 CRMLS