1051 Site Dr #236 · Brea, CA 92821

$239,000

3 bd · 2.0 ba · 1,440 sqft · Manufactured · 147 Days on market

Built 1985 32 ac lot $166/sqft · 6% above area Est $226k · 6% over ↓ 11% since listing

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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
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• Schools +5.1/10.0
• ARV discount +4.9/15.0
• Livability +3.8/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover affordable living in the heart of Orange County with this beautifully updated home located in a desirable Brea community. Featuring a very open and spacious floorplan, this home is filled with natural light and offers 3 bedrooms and 2 bathrooms. The home has been recently painted inside and out and thoughtfully upgraded throughout, including new windows, new blinds, and new flooring in the bathrooms, kitchen, and laundry room. A newly added window in the primary bathroom brings in extra light and ventilation. Enjoy community amenities such as a sparkling pool and clubhouse, all while being conveniently close to freeways, shopping, dining, and top-rated schools. This is a wonderful opportunity to own a move-in-ready home in a prime Brea location.

Key facts

• Clubhouse
• New flooring
• Updated home

Tags

• UPDATED HOME
• NEW WINDOWS
• NEW BLINDS
• NEW FLOORING
• CLUBHOUSE
• PRIME BREA LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $239k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $239k).
• Recommended offer: $210k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.4% vs local median 2.1% in Brea — 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 76/100 on livability (#100 in CA, #3,570 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, employment A+, schools A-; Watch: health & safety C-, cost of living F.
• Brea-Olinda Unified (suburban): math 48% / reading 65% proficiency, ranked #84 of 517 in CA (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.8%/yr); 63 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 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 ($124k/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 $2k of loan paydown is wiped out by about $7k 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 + 1.8% rent growth), your $67k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 147 days — a 12% lower offer ($210k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $210,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 147 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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.
6. 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.
7. 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: 1.41% ✓
• Cap rate: 11.37%
• Cash-on-cash: 18.14%
• DSCR: 1.81
• GRM: 5.9

CMA / ARV

• ARV (median comp): $226,047
• List price: $239,000
• Delta: 5.73%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1051 Site Dr #89	0.00mi	3/2.0	1,400 (-3%)	4mo	$300,000	$214	92
1051 Site Dr #25	0.00mi	3/2.0	1,344 (-7%)	0mo	$185,000	$138	89
1051 Site Dr #37	0.00mi	3/2.0	1,440 (0%)	15mo	$160,000	$111	88
1051 Site Dr #154	0.00mi	2/2.0 (-1)	1,440 (0%)	10mo	$210,000	$146	87
1051 Site Dr #133	0.00mi	2/2.0 (-1)	1,440 (0%)	11mo	$157,000	$109	86
1051 Site Dr #142	0.00mi	2/2.0 (-1)	1,440 (0%)	17mo	$179,000	$124	80
1051 Site Dr #203	0.00mi	3/2.0	1,344 (-7%)	10mo	$240,000	$179	80
1051 Site Dr #51	0.00mi	3/2.0	1,620 (+12%)	11mo	$270,000	$167	70
1051 Site Dr #15	0.00mi	3/2.0	1,620 (+12%)	15mo	$325,000	$201	67
1051 Site Dr #265	0.00mi	3/2.0	1,624 (+13%)	16mo	$315,000	$194	66
1261 Glen Lake Ave #279	0.71mi	2/2.0 (-1)	1,296 (-10%)	6mo	$149,000	$115	40
726 Knoll Lake Dr #264	0.71mi	2/2.0 (-1)	1,296 (-10%)	8mo	$210,000	$162	39

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 · 1.78% rent growth · sell at horizon

5-year hold

• IRR: 8.4%
• Equity multiple: 1.32×
• Total profit: $21,665
• Equity at exit: $35,636

10-year hold

• IRR: 16.5%
• Equity multiple: 2.28×
• Total profit: $85,667
• Equity at exit: $20,664

Cash invested: $66,920 (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 92821

• Rents YoY: 1.8%
• Active inventory: 63
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $3,371 high
• Mortgage (P&I): −$1,253
• Tax est. 1.5%: −$299 /mo · $3,585/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$708
• Net cashflow: $1,012

Break-even live

Break-even rent $2,091

Max offer price $239,000

Occupancy floor 65%

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: $59,750
• Closing costs: $7,170
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
825 Tamarack Ave Brea, CA	1.0–2.0	1.0–2.0	837	$2,640	$3.15	1d	5	0.32mi
350 W Central Ave Brea, CA	1.0–3.0	1.0–2.5	1024	$4,210	$4.11	1d	8	0.42mi
730 Brooklyn Dr Brea, CA	2.0	2.5	1210	$3,400	$2.81	24d	1	0.45mi
250 W Central Ave Brea, CA	2.0	2.0	1100	$2,930	$2.66	17d	2	0.52mi
650 Tamarack Ave Brea, CA	2.0	1.0–2.0	750	$2,850	$3.80	2d	18	0.55mi
655 N Brea Blvd Brea, CA	1.0–2.0	1.0–2.0	830	$2,745	$3.31	1d	1	0.68mi
319 W Lambert Rd Brea, CA	2.0	2.0	1120	$3,333	$2.98	4d	9	0.78mi
308 Mountain Ct Brea, CA	3.0	2.0	1730	$3,550	$2.05	44d	1	0.95mi
1511 Kinsler Ct Brea, CA	3.0	2.5	1605	$4,095	$2.55	15d	1	0.98mi
369 Meadow Ct Brea, CA	3.0	2.0	1281	$3,450	$2.69	44d	1	1.11mi
137 N Orange Ave Brea, CA	2.0	2.0	975	$2,585	$2.65	44d	1	1.15mi
1913 Lotus Pl Brea, CA	4.0	2.0	1627	$4,100	$2.52	1d	1	1.30mi
160 N Fonda St La Habra, CA	2.0	2.0	1000	$2,500	$2.50	1d	1	1.39mi
160 N Fonda St Unit 2 La Habra, CA	2.0	1.5	1000	$2,500	$2.50	1d	1	1.39mi
334 S Walnut Ave Unit F Brea, CA	2.0	1.5	904	$2,995	$3.31	17d	1	1.41mi
141 N Fonda St Unit 1 La Habra, CA	3.0	2.5	1300	$3,400	$2.62	10d	1	1.42mi
201 Laurel Ave #7 Brea, CA	2.0	2.5	1218	$3,450	$2.83	44d	1	1.43mi
1500 Eastpark Dr Unit 3 La Habra, CA	2.0	1.5	1286	$2,500	$1.94	1d	1	1.44mi
209 S Fonda St La Habra, CA	2.0	2.0	1200	$3,500	$2.92	1d	1	1.45mi
331 Pomelo Ave Brea, CA	3.0	2.0	1538	$4,200	$2.73	44d	1	1.46mi
242 S Redwood Ave Unit C Brea, CA	3.0	2.5	1590	$3,995	$2.51	7d	1	1.48mi
664 Olive Ave Brea, CA	4.0	2.0	1472	$4,500	$3.06	6d	1	1.49mi
628 E Birch St Unit D Brea, CA	2.0	1.5	1104	$2,850	$2.58	13d	1	1.49mi
108 E Date St Unit 108 Brea, CA	2.0	1.0	950	$3,095	$3.26	44d	1	1.50mi

Listing history 18 events

1. 2026-06-18
   days on market $239,000 Active 147 DOM
2. 2026-06-17
   days on market $239,000 Active 146 DOM
3. 2026-06-16
   days on market $239,000 Active 145 DOM
4. 2026-06-15
   days on market $239,000 Active 144 DOM
5. 2026-06-13
   days on market $239,000 Active 142 DOM
6. 2026-06-13
   days on market $239,000 Active 141 DOM
7. 2026-06-09
   days on market $239,000 Active 138 DOM
8. 2026-06-08
   days on market $239,000 Active 137 DOM
9. 2026-06-07
   days on market $239,000 Active 136 DOM
10. 2026-06-04
    days on market $239,000 Active 133 DOM
11. 2026-06-03
    days on market $239,000 Active 132 DOM
12. 2026-06-02
    days on market $239,000 Active 131 DOM
13. 2026-06-01
    days on market $239,000 Active 130 DOM
14. 2026-05-31
    days on market $239,000 Active 129 DOM
15. 2026-05-05
    price $239,000 764-char remark

    Show marketing remark (764 chars)

    Discover affordable living in the heart of Orange County with this beautifully updated home located in a desirable Brea community. Featuring a very open and spacious floorplan, this home is filled with natural light and offers 3 bedrooms and 2 bathrooms. The home has been recently painted inside and out and thoughtfully upgraded throughout, including new windows, new blinds, and new flooring in the bathrooms, kitchen, and laundry room. A newly added window in the primary bathroom brings in extra light and ventilation. Enjoy community amenities such as a sparkling pool and clubhouse, all while being conveniently close to freeways, shopping, dining, and top-rated schools. This is a wonderful opportunity to own a move-in-ready home in a prime Brea location.

16. 2026-03-14
    price $248,000 764-char remark

    Show marketing remark (764 chars)

    Discover affordable living in the heart of Orange County with this beautifully updated home located in a desirable Brea community. Featuring a very open and spacious floorplan, this home is filled with natural light and offers 3 bedrooms and 2 bathrooms. The home has been recently painted inside and out and thoughtfully upgraded throughout, including new windows, new blinds, and new flooring in the bathrooms, kitchen, and laundry room. A newly added window in the primary bathroom brings in extra light and ventilation. Enjoy community amenities such as a sparkling pool and clubhouse, all while being conveniently close to freeways, shopping, dining, and top-rated schools. This is a wonderful opportunity to own a move-in-ready home in a prime Brea location.

17. 2026-02-14
    price $260,500 764-char remark

    Show marketing remark (764 chars)

    Discover affordable living in the heart of Orange County with this beautifully updated home located in a desirable Brea community. Featuring a very open and spacious floorplan, this home is filled with natural light and offers 3 bedrooms and 2 bathrooms. The home has been recently painted inside and out and thoughtfully upgraded throughout, including new windows, new blinds, and new flooring in the bathrooms, kitchen, and laundry room. A newly added window in the primary bathroom brings in extra light and ventilation. Enjoy community amenities such as a sparkling pool and clubhouse, all while being conveniently close to freeways, shopping, dining, and top-rated schools. This is a wonderful opportunity to own a move-in-ready home in a prime Brea location.

18. 2026-01-22
    listed $268,500 Active 764-char remark

    Show marketing remark (764 chars)

    Discover affordable living in the heart of Orange County with this beautifully updated home located in a desirable Brea community. Featuring a very open and spacious floorplan, this home is filled with natural light and offers 3 bedrooms and 2 bathrooms. The home has been recently painted inside and out and thoughtfully upgraded throughout, including new windows, new blinds, and new flooring in the bathrooms, kitchen, and laundry room. A newly added window in the primary bathroom brings in extra light and ventilation. Enjoy community amenities such as a sparkling pool and clubhouse, all while being conveniently close to freeways, shopping, dining, and top-rated schools. This is a wonderful opportunity to own a move-in-ready home in a prime Brea location.

ⓘ 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 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥96°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: $40,455
• − Mortgage interest: −$13,388
• − Property taxes: −$3,585
• − Insurance: −$1,195
• − Repairs & maintenance: −$3,236
• − Management: −$3,236
• − Depreciation: −$6,953
• Taxable income: $8,862
• Est. tax owed @ 24.0%: −$2,127
• After-tax cash flow: $10,013/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: Brea-Olinda Unified
• NCES district ID: 0605880
• Math proficiency: 48% ▼ -14.00%
• Reading proficiency: 65% ▼ -2.00%
• Median HH income: $83,131
• Composite: 51.28/100
• National rank: #1748
• State rank: #84 of 517 in CA

Livability — Brea

• Score: 76/100
• State rank: #100
• US rank: #3570

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Brea, CA
• County: Orange County · 3,096,323 people
• City population: 41,623
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 41,623
• Household income: $123,629
• Rent vs Own: 42.5% rent · 57.5% own
• Severe rent burden: 1655.0

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: White 38% Hispanic / Latino 32% Asian 24% Two or more races 14% Black 1%
• Hispanic origin (detail): Mexican 27%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 23% · Canada, South Korea, China
• Languages at home: 66% English-only · Spanish 16% Korean 6% Chinese 4%

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: ▼ -826.78%
• Current HPI: 374.8663
• Rent YoY: ▲ 1.78%
• 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

-11.0% since first listed

4 events — show timeline

• 2026-05-05 Price Changed $239,000 CRMLS
• 2026-03-14 Price Changed $248,000 CRMLS
• 2026-02-14 Price Changed $260,500 CRMLS
• 2026-01-22 Listed $268,500 CRMLS

Property tax history

-5.6%/yr

Latest (2025): $85 · +3.2% YoY. Source: county tax records.