3929 W 5th St, # 15 · Santa Ana, CA 92703

$170,000

2 bd · 2.0 ba · 960 sqft · Manufactured · 150 Days on market

Built 1979 Good condition $177/sqft · 19% above area Est $143k · 19% 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
• Condition / age +3.8/5.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This well-kept mobile home is located in the quiet and clean Town & Country Villa Senior Mobile Home Park, a 55+ community, with low space rent of only $1,140 per month. The home is move-in ready and features 2 bedrooms, 2 bathrooms, plus a bonus room/den that can be used as a home office, hobby room, or extra living space. The home offers approximately 960 sqft of living space with good natural light and a nice, open feel. There is a spacious living room, a dining area, and a comfortable, functional layout overall. The bathrooms, living room, bedrooms have been updated, giving the home fresh, clean, and well-maintained feel. The park is conveniently located near restaurants, markets, and other daily conveniences. This is a great option for comfortable, low-maintenance living in a peaceful 55+ community.

Key facts

• Updated living room
• Low space rent
• Updated bathrooms

Tags

• LOW SPACE RENT
• MOVE IN READY
• GOOD NATURAL LIGHT
• SPACIOUS LIVING ROOM
• UPDATED BATHROOMS
• UPDATED LIVING ROOM

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $170k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $767 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $170k).
• Recommended offer: $150k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.6% 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: schools D, crime D-, amenities 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: 59 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 37% 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 $1k of loan paydown is wiped out by about $5k 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 $48k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 150 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y ago; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $128k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $149,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 150 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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 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: 1.54% ✓
• Cap rate: 12.59%
• Cash-on-cash: 22.50%
• DSCR: 2.00
• GRM: 5.4

CMA / ARV

• ARV (median comp): $143,249
• List price: $170,000
• Delta: 18.67%
• Verdict: OVERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3929 W 5th st. # 87	0.00mi	2/2.0	960 (0%)	9mo	$135,000	$141	92
3929 W 5th St #32	0.06mi	2/2.0	960 (0%)	7mo	$145,400	$151	92
3929 W 5TH St #48	0.06mi	2/2.0	960 (0%)	11mo	$95,000	$99	88
3929 W 5th St #49	0.06mi	2/2.0	1,040 (+8%)	7mo	$152,000	$146	78
432 S Harbor Blvd #7	0.59mi	2/2.0	960 (0%)	3mo	$101,000	$105	70
432 S Harbor Blvd #64	0.59mi	2/2.0	960 (0%)	7mo	$127,000	$132	66
432 S Harbor Blvd #90	0.59mi	2/1.0	950 (-1%)	15mo	$40,000	$42	54
432 S Harbor Blvd #34	0.59mi	2/2.0	1,040 (+8%)	14mo	$109,000	$105	47
4117 W Mcfadden Ave #612	0.66mi	2/2.0	1,045 (+9%)	17mo	$165,500	$158	40
3424 W Washington Ave #539	0.68mi	3/2.0 (+1)	1,104 (+15%)	1mo	$139,000	$126	38
4080 W First #175	0.44mi	3/2.0 (+1)	1,100 (+15%)	15mo	$165,000	$150	38
511 Willow Dr	0.71mi	3/2.0 (+1)	1,062 (+11%)	18mo	$142,600	$134	29

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.4%
• Equity multiple: 1.45×
• Total profit: $21,438
• Equity at exit: $25,348

10-year hold

• IRR: 20.4%
• Equity multiple: 2.72×
• Total profit: $82,066
• Equity at exit: $14,698

Cash invested: $47,600 (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 92703

• Active inventory: 59
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $2,617 high
• Mortgage (P&I): −$891
• Tax est. 1.5%: −$212 /mo · $2,550/yr
• Insurance: −$71
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$550
• Net cashflow: $767

Break-even live

Break-even rent $1,646

Max offer price $170,000

Occupancy floor 66%

Sensitivity live

Price	-10% $885	-5% $826	+0% $767	+5% $709	+10% $650
Rent	-10% $561	-5% $664	+0% $767	+5% $871	+10% $974
Rate	-1.0pp $853	-0.5pp $811	base $767	+0.5pp $723	+1.0pp $678

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4109 W 5th St Unit C3 Santa Ana, CA	2.0	2.0	921	$2,900	$3.15	44d	1	0.06mi
4109 W 5th St Unit C3 Santa Ana, CA	2.0	2.0	921	$2,500	$2.71	22d	1	0.06mi
3900 W 5th St Santa Ana, CA	1.0–2.0	1.0–2.0	780	$2,175	$2.79	13d	1	0.10mi
4201 W 5th St Santa Ana, CA	2.0	1.0	921	$2,800	$3.04	7d	1	0.11mi
4200 W 1st St Santa Ana, CA	1.0–2.0	1.0–2.0	714	$2,997	$4.19	2d	4	0.31mi
1314 N Harbor Blvd Santa Ana, CA	2.0	2.0	884	$2,742	$3.10	13d	4	0.55mi
308 S Laurel St Unit C Santa Ana, CA	2.0	1.0	950	$2,650	$2.79	44d	1	0.61mi
1500 N Harbor Blvd Santa Ana, CA	1.0–2.0	1.0–2.0	780	$2,575	$3.30	15d	1	0.62mi
3200 W 5th St Santa Ana, CA	1.0–2.0	1.0–2.0	769	$2,795	$3.63	3d	9	0.64mi
517 S Newhope St Santa Ana, CA	2.0	1.0	840	$2,125	$2.53	45d	1	0.66mi
3630 Westminster Ave Santa Ana, CA	2.0	2.0	997	$2,758	$2.77	44d	1	0.72mi
3630 Westminster Ave Santa Ana, CA	1.0	1.0	696	$2,508	$3.60	22d	1	0.72mi
4800 W McFadden Ave Santa Ana, CA	2.0	1.0	820	$2,450	$2.99	19d	1	0.99mi
11075 Westminster Ave Garden Grove, CA	1.0	1.0	717	$1,995	$2.78	3d	1	1.08mi
13884 Euclid St Unit D07 Garden Grove, CA	3.0	1.5	1060	$3,300	$3.11	2d	1	1.16mi
13884 Euclid St Unit F08 Garden Grove, CA	2.0	1.5	900	$2,895	$3.22	25d	1	1.16mi
13884 Euclid St Apt C12 Garden Grove, CA	3.0	1.5	1060	$3,335	$3.15	25d	1	1.16mi
13884 Euclid St Garden Grove, CA	2.0–3.0	1.5	980	$2,965	$3.03	2d	4	1.16mi
11655 Trask Ave Unit 6 Garden Grove, CA	2.0	2.0	950	$2,800	$2.95	44d	1	1.27mi
11655 Trask Ave Unit 3 Garden Grove, CA	2.0	2.0	950	$2,750	$2.89	44d	1	1.27mi
12562 Cardinal Ave Unit B Garden Grove, CA	3.0	1.0	1100	$2,800	$2.55	44d	1	1.35mi
1806 N Fairview St Unit Q Santa Ana, CA	1.0	1.0	693	$2,526	$3.65	25d	1	1.40mi
10500 Westminster Ave Unit 37 Garden Grove, CA	1.0	1.0	756	$1,850	$2.45	7d	1	1.49mi
10500 Westminster Ave Apt 4 Garden Grove, CA	1.0	1.0	768	$1,895	$2.47	44d	1	1.49mi

Listing history 26 events

1. 2026-06-18
   days on market $170,000 Active 150 DOM
2. 2026-06-17
   days on market $170,000 Active 149 DOM
3. 2026-06-16
   days on market $170,000 Active 148 DOM
4. 2026-06-15
   days on market $170,000 Active 147 DOM
5. 2026-06-13
   days on market $170,000 Active 145 DOM
6. 2026-06-13
   days on market $170,000 Active 144 DOM
7. 2026-06-09
   days on market $170,000 Active 141 DOM
8. 2026-06-08
   days on market $170,000 Active 140 DOM
9. 2026-06-07
   days on market $170,000 Active 139 DOM
10. 2026-06-04
    days on market $170,000 Active 136 DOM
11. 2026-06-03
    days on market $170,000 Active 135 DOM
12. 2026-06-02
    days on market $170,000 Active 134 DOM
13. 2026-06-01
    days on market $170,000 Active 133 DOM
14. 2026-05-31
    pricedays on market $170,000 Active 132 DOM
15. 2026-01-22
    price $176,000 821-char remark

    Show marketing remark (821 chars)

    This well-kept mobile home is located in the quiet and clean Town & Country Villa Senior Mobile Home Park, a 55+ community, with low space rent of only $1,140 per month. The home is move-in ready and features 2 bedrooms, 2 bathrooms, plus a bonus room/den that can be used as a home office, hobby room, or extra living space. The home offers approximately 960 sqft of living space with good natural light and a nice, open feel. There is a spacious living room, a dining area, and a comfortable, functional layout overall. The bathrooms, living room, bedrooms have been updated, giving the home fresh, clean, and well-maintained feel. The park is conveniently located near restaurants, markets, and other daily conveniences. This is a great option for comfortable, low-maintenance living in a peaceful 55+ community.

16. 2026-01-19
    listed $185,000 Active 821-char remark

    Show marketing remark (821 chars)

    This well-kept mobile home is located in the quiet and clean Town & Country Villa Senior Mobile Home Park, a 55+ community, with low space rent of only $1,140 per month. The home is move-in ready and features 2 bedrooms, 2 bathrooms, plus a bonus room/den that can be used as a home office, hobby room, or extra living space. The home offers approximately 960 sqft of living space with good natural light and a nice, open feel. There is a spacious living room, a dining area, and a comfortable, functional layout overall. The bathrooms, living room, bedrooms have been updated, giving the home fresh, clean, and well-maintained feel. The park is conveniently located near restaurants, markets, and other daily conveniences. This is a great option for comfortable, low-maintenance living in a peaceful 55+ community.

17. 2025-03-26
    soldstatus $127,500 Closed Sale 193-char remark

    Show marketing remark (193 chars)

    Town & Country Villa Senior Park 55+ with low rent $1,100/mo. The property features 2bedrooms and 2bathrooms with The Den. Laminate/Tile flooring , window AC units. Living size 960 SQFT.

18. 2025-03-08
    historical Active Under Contract 193-char remark

    Show marketing remark (193 chars)

    Town & Country Villa Senior Park 55+ with low rent $1,100/mo. The property features 2bedrooms and 2bathrooms with The Den. Laminate/Tile flooring , window AC units. Living size 960 SQFT.

19. 2025-03-05
    status Active 193-char remark

    Show marketing remark (193 chars)

    Town & Country Villa Senior Park 55+ with low rent $1,100/mo. The property features 2bedrooms and 2bathrooms with The Den. Laminate/Tile flooring , window AC units. Living size 960 SQFT.

20. 2025-02-26
    status Active 193-char remark

    Show marketing remark (193 chars)

    Town & Country Villa Senior Park 55+ with low rent $1,100/mo. The property features 2bedrooms and 2bathrooms with The Den. Laminate/Tile flooring , window AC units. Living size 960 SQFT.

21. 2025-01-18
    historical
22. 2025-01-01
    status Active 193-char remark

    Show marketing remark (193 chars)

    Town & Country Villa Senior Park 55+ with low rent $1,100/mo. The property features 2bedrooms and 2bathrooms with The Den. Laminate/Tile flooring , window AC units. Living size 960 SQFT.

23. 2024-10-15
    price $145,000 193-char remark

    Show marketing remark (193 chars)

    Town & Country Villa Senior Park 55+ with low rent $1,100/mo. The property features 2bedrooms and 2bathrooms with The Den. Laminate/Tile flooring , window AC units. Living size 960 SQFT.

24. 2024-08-25
    price $150,000 193-char remark

    Show marketing remark (193 chars)

    Town & Country Villa Senior Park 55+ with low rent $1,100/mo. The property features 2bedrooms and 2bathrooms with The Den. Laminate/Tile flooring , window AC units. Living size 960 SQFT.

25. 2024-07-05
    listed $155,000 Active 193-char remark

    Show marketing remark (193 chars)

    Town & Country Villa Senior Park 55+ with low rent $1,100/mo. The property features 2bedrooms and 2bathrooms with The Den. Laminate/Tile flooring , window AC units. Living size 960 SQFT.

26. 2024-06-07
    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 2/10 Low FEMA zone A · 5% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥89°F today · 23 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: $31,402
• − Mortgage interest: −$9,523
• − Property taxes: −$2,550
• − Insurance: −$2,352
• − Repairs & maintenance: −$2,512
• − Management: −$2,512
• − Depreciation: −$4,945
• Taxable income: $7,007
• Est. tax owed @ 24.0%: −$1,682
• After-tax cash flow: $7,526/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 · 10 photos

Good 75/100 Cosmetic rehab

This move-in ready mobile home in a 55+ community offers a good condition with minor repairs needed. It has a spacious layout and fresh updates, making it an attractive option for both resale and rental.

Repairs flagged

• Minor kitchen cabinets — slight wear
• Minor bathroom fixtures — slight wear
• Minor flooring — slight wear

Value-add opportunities

• Both paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both replace kitchen cabinets — New cabinets improve functionality and aesthetics
• Both replace bathroom fixtures — New fixtures improve functionality and aesthetics
• Both replace flooring — New flooring improves functionality and aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · slight wear	Minor	$500–3,000
bathroom fixtures · slight wear	Minor	$500–3,000
flooring · slight wear	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both replace kitchen cabinets — New cabinets improve functionality and aesthetics ↑
• Both replace bathroom fixtures — New fixtures improve functionality and aesthetics ↑
• Both replace flooring — New flooring improves functionality and aesthetics ↑

ⓘ 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: 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 — 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

+13.5% since first listed

12 events — show timeline

• 2026-01-22 Price Changed $176,000 CRMLS
• 2026-01-19 Listed $185,000 CRMLS
• 2025-03-26 Sold (MLS) $127,500 CRMLS
• 2025-03-08 Contingent — CRMLS
• 2025-03-05 Relisted — CRMLS
• 2025-02-26 Relisted — CRMLS
• 2025-01-18 Listing Removed — SDMLS
• 2025-01-01 Relisted — CRMLS
• 2024-10-15 Price Changed $145,000 CRMLS
• 2024-08-25 Price Changed $150,000 CRMLS
• 2024-07-05 Listed $155,000 CRMLS
• 2024-06-07 Listed — SDMLS