3929 W 5th Street, #16 · Santa Ana, CA 92703

$159,950

2 bd · 2.0 ba · 800 sqft · Manufactured · 15 Days on market

Built 1972 Est $140k · 14% 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 +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.1/15.0
• Appreciation +0.0/10.0

Listing remarks

Quiet, peaceful, and well maintained senior mobile home park Town and Country Villa. Move in condition. 2 bedrooms, 2 bathrooms and 800 sqft spacious and bright airy living space. Home offers large living room, master bedroom, dining room area, 1 car port and abundance of community parking spaces. Washer and Dryer inside. Registered owner has to be 55+ year old and 2nd person is 40+ year old. Low lease space for only $1,120 per month. Amenities include spacious clubhouse for special and important events, multiple guest parking spaces, and swimming pool. Conveniently close to restaurants, stores, and supermarkets

Key facts

• Dining room area
• Swimming pool
• Large living room

Tags

• MOVE IN CONDITION
• LARGE LIVING ROOM
• DINING ROOM AREA
• WASHER AND DRYER INSIDE
• SPACIOUS CLUBHOUSE
• SWIMMING POOL

Property features AI

Finance

• Financial info: Monthly land lease of $1,120 (park-managed)
• HOA & community: Part of association; Senior community; Park name: Town and Country Villa Park; Manager approval required

Exterior

• Parking: Private carport (1 space)
• Security: Carbon monoxide detector(s)
• Utilities: District/public water; Public sewer; Natural gas connected; Electricity connected
• Home design: Manufactured/mobile home (10' x 40'); Mobile home remains on site; Single-story; Entry level 1
• Construction: Year built per builder
• Exterior features: Shed; Community pool; Greenbelt; Close to clubhouse; Sidewalks

Interior

• Kitchen: Gas cooktop; Water heater unit
• Bedrooms: Primary bedroom
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms with showers
• Heating & cooling: Forced air heating; Wall/window cooling
• Interior features: Front entry; One-level home; Carbon monoxide detector(s)
• Laundry & utility: Laundry inside; Gas and electric dryer hookups

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $160k.

Deal economics

• At list price, monthly cash flow is $830 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $160k).
• Recommended offer: $158k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.5% 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: 60 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 $45k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 5y 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 $85k; list at $160k implies a 88% gain — meaningful room to come down on a strong offer.

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 $157,550 (1.5% below list)

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.63% ✓
• Cap rate: 13.46%
• Cash-on-cash: 25.58%
• DSCR: 2.14
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $140,000
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4117 W Mc Fadden #313	0.72mi	2/2.0	800 (0%)	8mo	$140,000	$175	60

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: 15.0%
• Equity multiple: 1.60×
• Total profit: $27,031
• Equity at exit: $23,849

10-year hold

• IRR: 23.8%
• Equity multiple: 3.06×
• Total profit: $92,042
• Equity at exit: $13,830

Cash invested: $44,786 (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: 5.1×

Monthly cashflow live

• Estimated rent: $2,608 high
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,399/yr
• Insurance: −$67
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$548
• Net cashflow: $830

Break-even live

Break-even rent $1,558

Max offer price $159,950

Occupancy floor 63%

Sensitivity live

Price	-10% $940	-5% $885	+0% $830	+5% $774	+10% $719
Rent	-10% $624	-5% $727	+0% $830	+5% $933	+10% $1,036
Rate	-1.0pp $910	-0.5pp $870	base $830	+0.5pp $788	+1.0pp $746

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: $39,988
• Closing costs: $4,798
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4109 W 5th St Unit C3 Santa Ana, CA	2.0	2.0	921	$2,500	$2.71	23d	1	0.08mi
4109 W 5th St Unit C3 Santa Ana, CA	2.0	2.0	921	$2,900	$3.15	44d	1	0.08mi
4201 W 5th St Santa Ana, CA	2.0	1.0	921	$2,800	$3.04	8d	1	0.14mi
3900 W 5th St Santa Ana, CA	1.0–2.0	1.0–2.0	780	$2,175	$2.79	14d	1	0.16mi
4200 W 1st St Santa Ana, CA	1.0–2.0	1.0–2.0	714	$2,929	$4.10	0d	5	0.38mi
1314 N Harbor Blvd Santa Ana, CA	2.0	2.0	884	$2,742	$3.10	14d	4	0.49mi
225 S Newhope St Santa Ana, CA	1.0–2.0	1.0–2.0	822	$2,288	$2.78	0d	2	0.54mi
1500 N Harbor Blvd Santa Ana, CA	1.0–2.0	1.0–2.0	780	$2,575	$3.30	16d	1	0.55mi
3200 W 5th St Santa Ana, CA	1.0–2.0	1.0–2.0	769	$3,350	$4.36	0d	9	0.66mi
308 S Laurel St Unit C Santa Ana, CA	2.0	1.0	950	$2,650	$2.79	44d	1	0.66mi
3630 Westminster Ave Santa Ana, CA	1.0	1.0	696	$2,508	$3.60	23d	1	0.66mi
3630 Westminster Ave Santa Ana, CA	2.0	2.0	997	$2,758	$2.77	44d	1	0.66mi
517 S Newhope St Santa Ana, CA	2.0	1.0	840	$2,125	$2.53	45d	1	0.72mi
11075 Westminster Ave Garden Grove, CA	1.0	1.0	717	$1,995	$2.78	3d	1	1.04mi
4800 W McFadden Ave Santa Ana, CA	2.0	1.0	820	$2,450	$2.99	19d	1	1.04mi
13884 Euclid St Unit F08 Garden Grove, CA	2.0	1.5	900	$2,895	$3.22	25d	1	1.11mi
13884 Euclid St Apt C12 Garden Grove, CA	3.0	1.5	1060	$3,335	$3.15	25d	1	1.11mi
13884 Euclid St Unit D07 Garden Grove, CA	3.0	1.5	1060	$3,300	$3.11	3d	1	1.11mi
13884 Euclid St Garden Grove, CA	2.0–3.0	1.5	980	$2,965	$3.03	3d	4	1.11mi
11655 Trask Ave Unit 6 Garden Grove, CA	2.0	2.0	950	$2,800	$2.95	44d	1	1.20mi
11655 Trask Ave Unit 3 Garden Grove, CA	2.0	2.0	950	$2,750	$2.89	44d	1	1.20mi
12562 Cardinal Ave Unit B Garden Grove, CA	3.0	1.0	1100	$2,800	$2.55	44d	1	1.29mi
1806 N Fairview St Unit Q Santa Ana, CA	1.0	1.0	693	$2,526	$3.65	25d	1	1.36mi
10500 Westminster Ave Unit 37 Garden Grove, CA	1.0	1.0	756	$1,850	$2.45	8d	1	1.46mi
10500 Westminster Ave Apt 4 Garden Grove, CA	1.0	1.0	768	$1,895	$2.47	44d	1	1.46mi
10500 Westminster Ave Garden Grove, CA	1.0–3.0	1.0–2.0	1001	$2,525	$2.52	16d	5	1.48mi
10500 Westminster Ave Unit 11 Garden Grove, CA	1.0	1.0	756	$1,950	$2.58	8d	1	1.48mi
10500 Westminster Ave Unit 9 Garden Grove, CA	2.0	1.0	992	$2,595	$2.62	5d	1	1.48mi

Listing history 11 events

1. 2026-06-21
   days on market $159,950 Active 15 DOM
2. 2026-06-18
   days on market $159,950 Active 12 DOM
3. 2026-06-17
   days on market $159,950 Active 11 DOM
4. 2026-06-16
   days on market $159,950 Active 10 DOM
5. 2026-06-15
   days on market $159,950 Active 9 DOM
6. 2026-06-13
   days on market $159,950 Active 7 DOM
7. 2026-06-13
   days on market $159,950 Active 6 DOM
8. 2026-06-09
   days on market $159,950 Active 3 DOM
9. 2026-06-08
   days on market $159,950 Active 2 DOM
10. 2026-06-07
    remarks 619-char remark
11. 2026-06-07
    listed $159,950 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 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: $31,293
• − Mortgage interest: −$8,960
• − Property taxes: −$2,399
• − Insurance: −$2,302
• − Repairs & maintenance: −$2,503
• − Management: −$2,503
• − Depreciation: −$4,653
• Taxable income: $7,972
• Est. tax owed @ 24.0%: −$1,913
• After-tax cash flow: $8,041/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 — 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

+102.5% since first listed

11 events — show timeline

• 2026-06-06 Listed $159,950 CRMLS
• 2026-04-22 Listing Removed — CRMLS
• 2026-04-20 Relisted — CRMLS
• 2026-03-05 Listed $159,950 CRMLS
• 2026-02-28 Listing Removed — CRMLS
• 2025-10-10 Price Changed $162,000 CRMLS
• 2025-06-10 Price Changed $165,000 CRMLS
• 2025-05-14 Listed $170,000 CRMLS
• 2021-06-17 Sold (MLS) $85,000 CRMLS
• 2021-06-01 Pending — CRMLS
• 2021-05-20 Listed $79,000 CRMLS

Property tax history

-0.1%/yr

Latest (2021): $49 · +0.2% YoY. Source: county tax records.