656 Avenida Sevilla Unit O · Laguna Woods, CA 92637

$329,000

2 bd · 2.0 ba · 1,057 sqft · Condo · 73 Days on market

Built 1966 Good condition $311/sqft · at area comps Est $339k · at est. $827/mo HOA · 28% of rent ↓ 4% since listing

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Why this score? — see what drove the D 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).

• ARV discount +8.8/15.0
• Appreciation +7.9/10.0
• Schools +5.6/10.0
• Cash flow +5.1/30.0
• Rent growth +4.2/5.0
• 1% rule +4.0/10.0
• Condition / age +3.8/5.0
• Livability +3.6/5.0
• DSCR +0.0/10.0

Listing remarks MLS

PRICE REDUCTION!! WONDERFUL OPPORTUNITY TO PURCHASE A LOVELY 2 BEDROOM 2 BATH CO-OP IN LAGUNA WOODS VILLAGE! This UPPER floor home is a short walk to the creek and carport parking, with convenient additional parking right in front of the HOME. Panoramic View of the local surroundings with the mountains in the distance offers northeast sun in the morning and cool afternoon serenity. Multiple solatubes in strategic locations offer natural light throughout the home, minimizing use of artificial lighting during the the day. Freshly painted in cool whites -stacked washer and dryer is a much desired addition in this home. The convenient location of the Post Office annex, in nearby Clubhouse 3 parking lot, is an extra bonus. The close proximity to Laguna Beach with the many unique shops, delicious eateries and quirky art boutiques, coupled with all the amenities available in the village itself, ensures one will never be bored here! Owners stressed the importance of being "near the creek, Gate 4 and close to carport" as being priorities when they bought this lovely home years ago.

Key facts

• Panoramic view
• Top floor home
• $827 HOA

Tags

• TOP FLOOR HOME
• PANORAMIC VIEW
• STACKING WASHER AND DRYER

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $329k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-767 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $218k (33.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $295k (10.2% below list).
• Recommended offer: $218k (33.7% below list) — sets the bar for cash-flow.
• Cap rate 3.5% vs local median 2.4% in Laguna Woods — 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 72/100 on livability (#200 in CA) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+; Watch: schools C-, amenities D+, cost of living F.
• Saddleback Valley Unified (suburban): math 51% / reading 73% proficiency, ranked #67 of 517 in CA (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+6.8%/yr); 191 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 6,974 units permitted in Orange County in 2024 (3,839 in 5+ unit buildings).
• At $2,954/mo this rent would consume 60% of the median local household income ($59k/yr) (locally 1572% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $22k of equity ($2k loan paydown + $19k appreciation (5.9% local appreciation)).
• Orange County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($309k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.

Recommended offer $218,023 (33.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
3. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.90% ✗
• Cap rate: 3.50%
• Cash-on-cash: -9.99%
• DSCR: 0.56
• GRM: 9.3

CMA / ARV

• ARV (median comp): $338,501
• List price: $329,000
• Delta: -2.81%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

5.88% appreciation · 6.79% rent growth · sell at horizon

5-year hold

• IRR: 8.9%
• Equity multiple: 1.61×
• Total profit: $56,123
• Equity at exit: $204,412

10-year hold

• IRR: 12.0%
• Equity multiple: 3.53×
• Total profit: $232,708
• Equity at exit: $368,628

Cash invested: $92,120 (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 92637

• Home prices YoY: 3.4%
• Rents YoY: 6.8%
• Active inventory: 191
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $2,954 high
• Mortgage (P&I): −$1,725
• Tax est. 1.5%: −$411 /mo · $4,935/yr
• Insurance: −$137
• HOA: −$827
• Vacancy / Maint / Mgmt: −$620
• Net cashflow: $-767

Break-even live

Break-even rent $3,925

Max offer price $218,023

Occupancy floor —

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: $82,250
• Closing costs: $9,870
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
169 Avenida Majorca Unit B Laguna Woods, CA	3.0	1.0	1200	$1,400	$1.17	43d	1	0.08mi
170 Avenida Majorca Unit D Laguna Woods, CA	2.0	1.0	1000	$2,500	$2.50	24d	1	0.15mi
158 Avenida Majorca Unit D Laguna Woods, CA	2.0	1.0	1300	$3,200	$2.46	43d	1	0.16mi
661 Avenida Sevilla Unit B Laguna Woods, CA	2.0	2.0	1009	$2,850	$2.82	7d	1	0.20mi
24555 Los Alisos Blvd Laguna Hills, CA	2.0	2.0	1014	$3,250	$3.21	15d	1	0.25mi
24555 Los Alisos Blvd Laguna Hills, CA	2.0	2.0	1007	$3,356	$3.33	43d	1	0.25mi
24555 Los Alisos Blvd Laguna Hills, CA	1.0	1.0	739	$2,515	$3.40	7d	1	0.25mi
221 Avenida Majorca Unit D Laguna Woods, CA	2.0	2.0	1438	$3,200	$2.23	24d	1	0.25mi
224 Avenida Majorca Unit B Laguna Woods, CA	2.0	2.0	1009	$2,600	$2.58	43d	1	0.29mi
676 Via Alhambra Unit D Laguna Woods, CA	2.0	2.0	1057	$2,595	$2.46	24d	1	0.31mi
205 Avenida Majorca Unit A Laguna Woods, CA	2.0	2.0	1278	$3,600	$2.82	43d	1	0.31mi
606 Avenida Sevilla Unit C Laguna Woods, CA	2.0	2.0	1057	$2,900	$2.74	43d	1	0.32mi
107 Via Estrada Laguna Woods, CA	2.0	2.0	1040	$2,700	$2.60	24d	1	0.35mi
132 Avenida Majorca Unit B Laguna Woods, CA	2.0	1.0	995	$2,400	$2.41	6d	1	0.37mi
25211 Stockport St Laguna Hills, CA	1.0–2.0	1.0–2.0	815	$3,240	$3.98	3d	3	0.39mi
24391 Avenida de la Carlota Laguna Hills, CA	1.0–2.0	1.0–2.0	957	$3,965	$4.14	1d	18	0.41mi
599 Avenida Majorca Unit A Laguna Woods, CA	2.0	1.0	950	$3,200	$3.37	43d	1	0.41mi
852 Ronda Mendoza Unit O Laguna Woods, CA	2.0	2.0	1009	$3,000	$2.97	43d	1	0.42mi
737 Avenida Majorca Unit B Laguna Woods, CA	2.0	1.0	935	$3,200	$3.42	24d	1	0.44mi
25212 Stockport St Laguna Hills, CA	1.0–2.0	1.0–2.0	849	$3,155	$3.71	5d	4	0.56mi
74 Calle Aragon Unit A Laguna Woods, CA	2.0	1.0	950	$2,700	$2.84	24d	1	0.57mi
897 Ronda Sevilla Unit O Laguna Hills, CA	2.0	2.0	1009	$3,000	$2.97	43d	1	0.57mi
897 Ronda Sevilla Laguna Hills, CA	2.0	2.0	1009	$3,200	$3.17	43d	1	0.57mi
92 Calle Aragon Unit R Laguna Woods, CA	2.0	2.0	1009	$2,650	$2.63	18d	1	0.58mi
842 Ronda Sevilla Unit B Laguna Hills, CA	2.0	2.0	1500	$3,190	$2.13	24d	1	0.58mi
840 Ronda Sevilla Unit B Laguna Woods, CA	1.0	1.0	1010	$2,400	$2.38	43d	1	0.59mi
46 Calle Aragon Unit R Laguna Woods, CA	2.0	2.0	1040	$2,800	$2.69	18d	1	0.65mi
479 Calle Cadiz Unit B Laguna Woods, CA	2.0	2.0	1050	$3,300	$3.14	17d	1	0.67mi
715 Avenida Majorca Unit O Laguna Woods, CA	2.0	2.0	1040	$2,750	$2.64	3d	1	0.67mi
477 Calle Cadiz Unit A Laguna Woods, CA	1.0	1.0	770	$2,500	$3.25	24d	1	0.68mi
480 Calle Cadiz Unit B Laguna Woods, CA	2.0	2.0	1324	$3,100	$2.34	43d	1	0.69mi
254 Calle Aragon Unit D Laguna Woods, CA	2.0	2.0	1009	$3,000	$2.97	17d	1	0.71mi
494 Calle Cadiz Laguna Woods, CA	2.0	2.0	1000	$3,900	$3.90	43d	1	0.72mi
57 Calle Cadiz Unit N Laguna Woods, CA	2.0	2.0	1040	$2,900	$2.79	2d	1	0.72mi
57 Calle Cadiz Laguna Woods, CA	2.0	2.0	1040	$2,800	$2.69	43d	1	0.72mi
53 Calle Aragon Unit O Laguna Woods, CA	1.0	1.0	770	$2,200	$2.86	12d	1	0.73mi
59 Calle Cadiz Unit B Laguna Woods, CA	2.0	2.0	1070	$3,500	$3.27	43d	1	0.76mi
754 Avenida Majorca Laguna Woods, CA	2.0	2.0	953	$3,350	$3.52	43d	1	0.77mi
969 Calle Aragon Unit 1B Laguna Woods, CA	2.0	2.0	1195	$2,900	$2.43	24d	1	0.79mi
25521 Indian Hill Ln Unit C Laguna Hills, CA	2.0	2.0	1089	$2,950	$2.71	43d	1	0.80mi

HOA detail condo

• Monthly dues: $827 · $9,924/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   days on market $329,000 Active 73 DOM
2. 2026-06-17
   days on market $329,000 Active 72 DOM
3. 2026-06-16
   days on market $329,000 Active 71 DOM
4. 2026-06-15
   days on market $329,000 Active 70 DOM
5. 2026-06-13
   days on market $329,000 Active 68 DOM
6. 2026-06-13
   days on market $329,000 Active 67 DOM
7. 2026-06-09
   days on market $329,000 Active 64 DOM
8. 2026-06-08
   days on market $329,000 Active 63 DOM
9. 2026-06-07
   days on market $329,000 Active 62 DOM
10. 2026-06-04
    days on market $329,000 Active 59 DOM
11. 2026-06-03
    days on market $329,000 Active 58 DOM
12. 2026-06-02
    days on market $329,000 Active 57 DOM
13. 2026-06-01
    days on market $329,000 Active 56 DOM
14. 2026-05-31
    days on market $329,000 Active 55 DOM
15. 2026-05-12
    price $329,000 1102-char remark

    Show marketing remark (1102 chars)

    PRICE REDUCTION!! WONDERFUL OPPORTUNITY TO PURCHASE A LOVELY 2 BEDROOM 2 BATH CO-OP IN LAGUNA WOODS VILLAGE! This UPPER floor home is a short walk to the creek and carport parking, with convenient additional parking right in front of the HOME. Panoramic View of the local surroundings with the mountains in the distance offers northeast sun in the morning and cool afternoon serenity. Multiple solatubes in strategic locations offer natural light throughout the home, minimizing use of artificial lighting during the the day. Freshly painted in cool whites -stacked washer and dryer is a much desired addition in this home. The convenient location of the Post Office annex, in nearby Clubhouse 3 parking lot, is an extra bonus. The close proximity to Laguna Beach with the many unique shops, delicious eateries and quirky art boutiques, coupled with all the amenities available in the village itself, ensures one will never be bored here! Owners stressed the importance of being "near the creek, Gate 4 and close to carport" as being priorities when they bought this lovely home years ago.

16. 2026-04-06
    listed $342,000 Active 1102-char remark

    Show marketing remark (1102 chars)

    PRICE REDUCTION!! WONDERFUL OPPORTUNITY TO PURCHASE A LOVELY 2 BEDROOM 2 BATH CO-OP IN LAGUNA WOODS VILLAGE! This UPPER floor home is a short walk to the creek and carport parking, with convenient additional parking right in front of the HOME. Panoramic View of the local surroundings with the mountains in the distance offers northeast sun in the morning and cool afternoon serenity. Multiple solatubes in strategic locations offer natural light throughout the home, minimizing use of artificial lighting during the the day. Freshly painted in cool whites -stacked washer and dryer is a much desired addition in this home. The convenient location of the Post Office annex, in nearby Clubhouse 3 parking lot, is an extra bonus. The close proximity to Laguna Beach with the many unique shops, delicious eateries and quirky art boutiques, coupled with all the amenities available in the village itself, ensures one will never be bored here! Owners stressed the importance of being "near the creek, Gate 4 and close to carport" as being priorities when they bought this lovely home years ago.

ⓘ 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 4/10 Moderate 4 d/yr ≥92°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,449
• − Mortgage interest: −$18,429
• − Property taxes: −$4,935
• − Insurance: −$1,645
• − Repairs & maintenance: −$2,836
• − Management: −$2,836
• − HOA: −$9,924
• − Depreciation: −$9,571
• Taxable loss: −$14,727
• Est. tax savings @ 24.0%: +$3,535
• After-tax cash flow: $-5,669/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 · 12 photos

Good 75/100 Cosmetic rehab

This upper floor condo in Laguna Woods Village is in good condition with a good curb appeal. It has a good layout and is ready for a fresh coat of paint and some minor updates to increase its value.

Value-add opportunities

• Resale Paint the exterior walls — Fresh paint can enhance the curb appeal and make the home more attractive to potential buyers.
• Both Replace the carpet with hardwood flooring — Hardwood flooring is more durable and can increase both resale and rental value.
• Both Install new windows — Newer, energy-efficient windows can improve energy efficiency and increase both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint the exterior walls — Fresh paint can enhance the curb appeal and make the home more attractive to potential buyers. ↑
• Both Replace the carpet with hardwood flooring — Hardwood flooring is more durable and can increase both resale and rental value. ↑
• Both Install new windows — Newer, energy-efficient windows can improve energy efficiency and increase both resale and rental value. ↑

ⓘ 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: Saddleback Valley Unified
• NCES district ID: 0633860
• Math proficiency: 51% ▼ -2.00%
• Reading proficiency: 73% ▲ 9.00%
• Median HH income: $85,577
• Composite: 56.05/100
• National rank: #1185
• State rank: #67 of 517 in CA

Livability — Laguna Woods

• Score: 72/100
• State rank: #200
• US rank: #6421

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Laguna Woods, CA
• County: Orange County · 3,096,323 people
• City population: 17,289
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 17,289
• Household income: $59,269
• Rent vs Own: 28.4% rent · 71.6% own
• Severe rent burden: 1572.0

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 White (68%)
• Race & ethnicity: White 68% Asian 24% Hispanic / Latino 5% Two or more races 3%
• Common ancestry: Romanian 4% Scotch-Irish 4% Lithuanian 3%
• Foreign-born: 31% · China, South Korea, Canada
• Languages at home: 72% English-only · Chinese 8% Korean 7% Other Indo-European 3%

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: ▲ 5.88%
• Current HPI: 180.1191
• Rent YoY: ▲ 6.79%
• 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

-3.8% since first listed

2 events — show timeline

• 2026-05-12 Price Changed $329,000 CRMLS
• 2026-04-06 Listed $342,000 CRMLS