8200 Bolsa Ave #103

Midway City, CA 92655

$99,595A

3 bd · 2.0 ba · 944 sqft · Built 1999 · Manufactured · Active · 125 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,052/mo
• Mortgage (P&I): −$522
• Tax + insurance: −$59
• HOA: −$0
• Vac / Maint / Mgmt: −$641
• Net cashflow: $1,830/mo
• Annual: $21,961/yr
• Cap rate: 28.34%
• Cash-on-cash: 78.75%
• DSCR: 4.50
• 1% rule: 3.06%
• Cash to close: $27,887

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $100k.
• At list price, monthly cash flow is $2k ($22k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $100k).
• It's been on market 125 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• In year one you build about $11k of equity ($688 loan paydown + $10k appreciation (10.0% local appreciation)).
• Location reads 59/100 on livability (#624 in CA) — a working-class tenant base; expect higher turnover. Strengths: commute A+; Watch: crime D+, amenities D, employment F.
• Huntington Beach Union High (suburban): math 65% / reading 82% proficiency, ranked #39 of 517 in CA (top 8%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Westminster High (math 51% / reading 68%, grade C+, #205 of 1,170 statewide, top 19%, 2,637 students, 87% FRL).
• Zoned-school proficiency averages 60% at this address vs 74% district-wide (-14 pts) — the specific schools serving this property underperform the Huntington Beach Union High average; the district grade overstates school quality for this exact location.
• Market conditions: 15 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 6,974 units permitted in Orange County in 2024 (3,839 in 5+ unit buildings).
• Orange County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts since 18y ago; this cycle's ask has dropped $20k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 125 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.