1931 E Meats #56 · Orange, CA 92865

$199,000

3 bd · 2.0 ba · 1,207 sqft · Manufactured · 12 Days on market

Built 2012 14 ac lot Est $203k · at est.

---

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 +8.3/15.0
• Schools +4.5/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this three bedroom home with so much to offer! Light & bright, this open floorplan begins with a spacious living room, a separate dining area, and then a beautiful kitchen with an abundance of cabinetry. Down the hall you will find two secondary bedrooms and a full bathroom; continue on to a large master bedroom complete with its own spacious bathroom complete with a roomy tub, separate shower, and dual sinks. Lots of bells and whistles in this home, including inside laundry and an attached covered carport with parking for three cars. With one of the best locations in the park, you are set back from the entrance but still have easy access to the community playground, swimming pool, barbeque area and game room/clubhouse. There is even a community laundry room if needed! A variety of shops and restaurants are nearby; many within walking distance. You can find everything from Target to Trader Joe's! The award-winning Orange Unified School District schools include Taft Elementary, Cerro Villa Middle School, and Villa Park High School, all of which are California Gold Ribbon Schools along with other awards and accolades. With a central Orange County location, you will find the 55 and 91 freeways just minutes away and the 22 and 5 freeways nearby as well. Enjoy all of the amenities and recreation opportunities Orange County has to offer, coveted schools, convenient shopping, and a very special place to call home right here!

Key facts

• Covered carport
• Recessed lighting
• Separate dining area

Tags

• LUXURY VINYL PLANK FLOORING
• RECESSED LIGHTING
• SEPARATE DINING AREA
• BEAUTIFULLY DESIGNED KITCHEN
• AMPLE STORAGE
• COVERED CARPORT

Property features AI

Finance

• Other: Pets allowed; Directions: From Tustin Ave go E on Meats Ave; Private paved road frontage
• Financial info: Land lease of $1,875 monthly (park-managed); rent includes trash (see remarks)
• HOA & community: Orange Mobile Home Park (land lease community); Community features include street lighting and park

Exterior

• Parking: Three covered parking spaces (tandem, private); Three total parking spaces; Has parking
• Security: Resident manager; Manager approval required for occupants
• Utilities: Natural gas connected; Sewer connected (public sewer); Electricity connected; Water connected (district/public)
• Home design: Mobile home (Model: Cal - 5224B); Double body type; Single-story (one story); Entry on level 1; Mobile dimensions approximately 22' x 52'; Mobile home remains on site
• Construction: Pier jacks foundation
• Exterior features: Composition roof; Community in-ground pool; Shed (one); Close to clubhouse; Has a view; No fencing

Interior

• Kitchen: Gas cooktop; Free-standing range; Microwave; Refrigerator; Dishwasher; Water line to refrigerator; Gas water heater
• Bedrooms: Primary suite with walk-in closet; Entry located on level 1
• Flooring: Vinyl flooring
• Bathrooms: Two full bathrooms; Soaking tub and separate tub and shower (shower in tub)
• Heating & cooling: Central heating (central furnace); Central cooling
• Interior features: Ceiling fan; Recessed lighting; Open floor plan; Storage space; Energy Star doors; Double pane windows with blinds and screens; Resident manager
• Laundry & utility: Inside laundry room; Washer included; Dryer included; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $199k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $199k).
• Cap rate 15.7% vs local median 2.3% in Orange — 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 73/100 on livability (#172 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, employment A+, crime B; Watch: health & safety C-, cost of living F.
• Orange Unified (urban): math 39% / reading 60% proficiency, ranked #127 of 517 in CA (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Taft Elementary (447 students, 93% FRL); Cerro Villa Middle (750 students, 59% FRL); Villa Park High (math 34% / reading 58%, grade D-, #409 of 1,170 statewide, top 36%, 2,110 students, 54% FRL) — zoned schools average 69% FRL vs 38% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 30 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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).
• This rent runs 33% of the median local income ($127k/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 $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 + 3.0% rent growth), your $56k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 9y 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 $140k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $199,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.74% ✓
• Cap rate: 15.75%
• Cash-on-cash: 33.76%
• DSCR: 2.50
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $202,776
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1931 E Meats Ave #172	0.00mi	3/2.0	1,120 (-7%)	18mo	$199,900	$178	73
1931 E Meats Ave #54	0.00mi	3/2.0	1,104 (-8%)	20mo	$186,000	$168	69
1931 E Meats Ave #161	0.00mi	4/2.0 (+1)	1,344 (+11%)	16mo	$220,000	$164	63

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: 29.1%
• Equity multiple: 2.21×
• Total profit: $67,531
• Equity at exit: $29,672

10-year hold

• IRR: 36.4%
• Equity multiple: 4.36×
• Total profit: $187,079
• 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 92865

• Active inventory: 30
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $3,465 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$43 /mo · $517/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$728
• Net cashflow: $1,568

Break-even live

Break-even rent $1,480

Max offer price $199,000

Occupancy floor 50%

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 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2169 N Mori Ln Orange, CA	3.0	2.0	1262	$4,295	$3.40	2d	1	0.33mi
1450 E Del Mar Ave Orange, CA	2.0	2.0	1100	$2,525	$2.30	44d	1	0.41mi
1450 Grove Ave Orange, CA	2.0–3.0	1.5–2.0	904	$2,995	$3.31	3d	2	0.46mi
1410 Grove Ave Unit 72 Orange, CA	3.0	2.0	1054	$2,995	$2.84	3d	1	0.49mi
1410 Grove Ave Unit 64 Orange, CA	2.0	1.5	754	$2,685	$3.56	4d	1	0.49mi
1410 Grove Ave Unit 56 Orange, CA	2.0	2.0	870	$2,700	$3.10	25d	1	0.49mi
1410 Grove Ave Orange, CA	2.0	1.5–2.0	812	$2,635	$3.25	44d	3	0.49mi
2627 N Bourbon St Orange, CA	1.0–2.0	1.0	761	$2,930	$3.85	2d	3	0.58mi
1918 E Vanowen Ave Orange, CA	2.0–3.0	1.5–2.5	1147	$3,245	$2.83	3d	8	0.98mi
16641 E Main St Unit B Orange, CA	2.0	1.0	950	$3,400	$3.58	19d	1	0.98mi
338 E Meats Ave Orange, CA	3.0	2.0	1100	$3,985	$3.62	5d	1	0.99mi
420 E Blueridge Ave Orange, CA	2.0	1.0	950	$2,600	$2.74	25d	1	1.04mi
16572 E Buena Vista Ave Orange, CA	3.0	2.0	1500	$5,500	$3.67	1d	1	1.05mi
243 E Blueridge Ave Orange, CA	2.0	2.0	950	$3,000	$3.16	25d	1	1.12mi
339 E Taft Ave #2 Orange, CA	2.0	2.0	1104	$2,995	$2.71	25d	1	1.15mi
1189 N Shattuck St Unit C Orange, CA	2.0	1.5	1100	$2,900	$2.64	17d	1	1.21mi
1172 N Shattuck St Orange, CA	2.0–3.0	1.5–2.5	1140	$3,595	$3.15	44d	2	1.24mi
109 N Merrimac Dr Apt D Anaheim, CA	2.0	1.0	950	$2,200	$2.32	44d	1	1.25mi
1139 N Shattuck St Unit C Orange, CA	3.0	2.0	1350	$3,550	$2.63	25d	1	1.27mi
501 E Katella Ave Orange, CA	2.0	2.0	1200	$3,480	$2.90	3d	2	1.32mi
1056 N Lincoln St Unit 1 Orange, CA	2.0	2.0	714	$2,700	$3.78	12d	1	1.40mi
1056 N Lincoln St Orange, CA	2.0	2.0	714	$2,700	$3.78	4d	1	1.40mi
1491 N Glassell St Unit 471D Orange, CA	2.0	2.0	1080	$3,190	$2.95	44d	1	1.46mi

Listing history 7 events

1. 2026-06-18
   days on market $199,000 Active 12 DOM
2. 2026-06-17
   days on market $199,000 Active 11 DOM
3. 2026-06-16
   days on market $199,000 Active 10 DOM
4. 2026-06-15
   days on market $199,000 Active 9 DOM
5. 2026-06-13
   days on market $199,000 Active 7 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $199,000 Active 6 DOM

ⓘ 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: $517 · $43/mo
• Projected year-2 tax: $1,512 · $126/mo
• Expected delta: +$995/yr (+$83/mo · 192.5%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥95°F today · 22 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $41,580
• − Mortgage interest: −$11,147
• − Property taxes: −$517
• − Insurance: −$995
• − Repairs & maintenance: −$3,326
• − Management: −$3,326
• − Depreciation: −$5,789
• Taxable income: $16,479
• Est. tax owed @ 24.0%: −$3,955
• After-tax cash flow: $14,858/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: Orange Unified
• NCES district ID: 0628650
• Math proficiency: 39% ▼ -6.00%
• Reading proficiency: 60% ▲ 3.00%
• Median HH income: $83,557
• Composite: 45.5/100
• National rank: #2609
• State rank: #127 of 517 in CA

Livability — Orange

• Score: 73/100
• State rank: #172
• US rank: #5560

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Orange, CA
• County: Orange County · 3,096,323 people
• City population: 143,297
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 20,589
• Household income: $127,431
• Rent vs Own: 35.8% rent · 64.2% own
• Severe rent burden: 493.0

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 0.69)
• Race & ethnicity: Hispanic / Latino 40% White 36% Two or more races 17% Asian 15% Native American 1%
• Hispanic origin (detail): Mexican 33%
• Common ancestry: Slovak 2% Italian 2% Romanian 2%
• Foreign-born: 22% · Canada, China, Vietnam
• Languages at home: 61% English-only · Spanish 26% Vietnamese 3% 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: ▼ -693.98%
• Current HPI: 458.5534
• 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

+99.2% since first listed

8 events — show timeline

• 2026-06-06 Listed $199,000 CRMLS
• 2021-07-23 Sold (MLS) $140,000 CRMLS
• 2021-06-19 Pending — CRMLS
• 2021-06-17 Relisted — CRMLS
• 2021-06-04 Listed $139,900 CRMLS
• 2017-08-16 Sold (MLS) $97,000 CRMLS
• 2017-06-30 Contingent — CRMLS
• 2017-06-08 Listed $99,900 CRMLS

Property tax history

-3.3%/yr

Latest (2025): $517 · +0.2% YoY. Source: county tax records.