1931 E Meats · Orange, CA 92865

$199,000

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

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

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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
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This charming 3-bedroom home sits in a desirable all-ages community within the Award-Winning Orange Unified School District. The bright, open floor plan boasts luxury vinyl plank flooring, recessed lighting, and neutral tones throughout. A spacious living room flows into a separate dining area and a beautifully designed kitchen with plenty of cabinetry, quality appliances, and a refrigerator included. Down the hall are two secondary bedrooms and a full bath, while the large primary suite offers a private retreat with a roomy ensuite featuring dual sinks, a soaking tub, and a separate shower. Other perks include an indoor laundry room with ample storage and washer and dryer included, plus a

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: Manager approval required; Pets allowed; Rent includes trash (see remarks)
• Financial info: Monthly land lease paid to park
• HOA & community: Orange Mobile Home Park (land lease community); Community features include street lighting and a park

Exterior

• Parking: Covered tandem private parking for 3 vehicles; Three carport spaces
• Security: On-site resident manager
• Utilities: Public sewer; District/public water; Natural gas connected; Electricity connected; Water connected
• Home design: Single-story mobile home (Cal - 5224B model); Mobile remains on site; Mobile dimensions approx. 22' x 52'; One entry level; Has view
• Construction: Pier jacks foundation
• Exterior features: Composition roof; In-ground community pool; One shed; Close to clubhouse; Private paved road frontage; No fencing

Interior

• Kitchen: Gas cooktop; Free-standing range; Microwave; Dishwasher; Refrigerator; Water line to refrigerator
• Bedrooms: Primary suite with walk-in closet
• Flooring: Vinyl
• Bathrooms: Two full bathrooms; Soaking tub; Separate tub and shower; Shower in tub
• Heating & cooling: Central cooling; Central furnace
• 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. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($16k/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 14.5% 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 ~5 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

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: 14.51%
• Cash-on-cash: 29.33%
• DSCR: 2.31
• 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	0.03mi	3/2.0	1,120 (-7%)	18mo	$199,900	$178	71
1931 E Meats Ave #54	0.03mi	3/2.0	1,104 (-8%)	20mo	$186,000	$168	67
1931 E Meats Ave #161	0.03mi	4/2.0 (+1)	1,344 (+11%)	16mo	$220,000	$164	62

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: 23.8%
• Equity multiple: 1.98×
• Total profit: $54,559
• Equity at exit: $29,672

10-year hold

• IRR: 31.7%
• Equity multiple: 3.86×
• Total profit: $159,430
• 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 est. 1.5%: −$249 /mo · $2,985/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$728
• Net cashflow: $1,362

Break-even live

Break-even rent $1,741

Max offer price $199,000

Occupancy floor 56%

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	24d	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	4d	1	0.99mi
420 E Blueridge Ave Orange, CA	2.0	1.0	950	$2,600	$2.74	24d	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	24d	1	1.12mi
339 E Taft Ave #2 Orange, CA	2.0	2.0	1104	$2,995	$2.71	24d	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	24d	1	1.27mi
501 E Katella Ave Orange, CA	2.0	2.0	1200	$3,480	$2.90	2d	2	1.32mi
1056 N Lincoln St Unit 1 Orange, CA	2.0	2.0	714	$2,700	$3.78	11d	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 4 events

1. 2026-06-09
   days on market $199,000 Active 3 DOM
2. 2026-06-08
   days on market $199,000 Active 2 DOM
3. 2026-06-07
   remarks 699-char remark
4. 2026-06-07
   listed $199,000 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 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: −$2,985
• − Insurance: −$995
• − Repairs & maintenance: −$3,326
• − Management: −$3,326
• − Depreciation: −$5,789
• Taxable income: $14,011
• Est. tax owed @ 24.0%: −$3,363
• After-tax cash flow: $12,983/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 · 14 photos

Good 80/100 Cosmetic rehab

This home is in good condition with a good condition score of 80. It has a good kitchen, bathrooms, exterior, flooring, interior walls/paint, windows, foundation/structure, HVAC/mechanicals, and landscaping/curb appeal. The home is move-in ready and has a good rehab level of cosmetic. The highest-ROI updates that would raise its resale or rental value are painting the exterior siding and replacing the artificial grass with real grass.

Value-add opportunities

• Resale Paint the exterior siding — A fresh coat of paint can enhance the curb appeal and make the home look more inviting to potential buyers.
• Rental Replace the artificial grass with real grass — Real grass can add value to a rental property by making the home more appealing to tenants.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint the exterior siding — A fresh coat of paint can enhance the curb appeal and make the home look more inviting to potential buyers. ↑
• Rental Replace the artificial grass with real grass — Real grass can add value to a rental property by making the home more appealing to tenants. ↑

ⓘ 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: 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

1 event — show timeline

• 2026-06-06 Listed $199,000 CRMLS