227 Palos Verdes Dr · Santa Ana, CA 92704

$229,000

5 bd · 2.0 ba · 1,100 sqft · Manufactured · 86 Days on market

Built 1973 $208/sqft · 66% above area ↓ 8% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Rent growth +3.0/5.0
• Livability +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

WOW! MUST-SEE 5 BEDROOM MOBILE HOME in Prime Santa Ana Location Looking for space, comfort, and a fantastic neighborhood? This incredible mobile home is a rare find and truly a must-see property! ?? Location, Location, Location! Situated in a highly sought-after, great neighborhood in Santa Ana, you'll enjoy convenience, community, and easy access to everything you need. ?? Key Features You Will Love: • HUGE 5 Bedrooms - Perfect for a large family, multi-generational living, or having dedicated home offices/gyms! • 2 Full Bathrooms • Master Bedroom Retreat - Features a spacious walk-in closet! • Modern Open Concept Layout - Ideal for entertaining and family gatherings. • Chef's Dream Kitchen - Boasts a big kitchen with ample counter and storage space. • Comfort Year-Round - Equipped with Central AC to keep you cool during the summer. • Sleek Design - Enhanced with modern recessed lighting throughout the main areas. This home offers the space of a traditional house with the benefits of a mobile home community. It's ready for you to move in and start making memories!

Key facts

• Central ac
• Chef's dream kitchen
• Community pool

Tags

• PRIME SANTA ANA LOCATION
• SPACIOUS WALK-IN CLOSET
• MODERN OPEN CONCEPT LAYOUT
• CHEF'S DREAM KITCHEN
• CENTRAL AC
• MODERN RECESSED LIGHTING

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath manufactured listed at $229k.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $229k).
• Recommended offer: $215k (6.0% below list) — sets the bar for market timing.
• Cap rate 17.8% vs local median 2.5% in Santa Ana — 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 55/100 on livability (#871 in CA) — a working-class tenant base; expect higher turnover. Strengths: employment A; Watch: crime D-, amenities F, commute F.
• Garden Grove Unified (suburban): math 38% / reading 65% proficiency, ranked #132 of 517 in CA (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: James Monroe Elementary (568 students, 65% FRL); Stephen R. Fitz Intermediate (507 students, 91% FRL); Los Amigos High (math 25% / reading 64%, grade F, #434 of 1,170 statewide, top 39%, 1,604 students, 93% FRL) — zoned schools average 83% FRL vs 60% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.2%/yr); 78 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 6,974 units permitted in Orange County in 2024 (3,839 in 5+ unit buildings).
• At $4,787/mo this rent would consume 58% of the median local household income ($100k/yr) (locally 2188% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 + 2.2% rent growth), your $64k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($215k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• 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.

Recommended offer $215,260 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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.
8. 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.
9. 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: 2.09% ✓
• Cap rate: 17.82%
• Cash-on-cash: 41.15%
• DSCR: 2.83
• GRM: 4.0

CMA / ARV

• ARV (median comp): $137,859
• List price: $229,000
• Delta: 66.11%
• Verdict: OVERPRICED
• Comps: 9 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.16% rent growth · sell at horizon

5-year hold

• IRR: 36.7%
• Equity multiple: 2.54×
• Total profit: $99,005
• Equity at exit: $34,145

10-year hold

• IRR: 43.0%
• Equity multiple: 4.91×
• Total profit: $250,658
• Equity at exit: $19,800

Cash invested: $64,120 (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 92704

• Rents YoY: 2.2%
• Active inventory: 78
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $4,787 medium
• Mortgage (P&I): −$1,201
• Tax est. 1.5%: −$286 /mo · $3,435/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,005
• Net cashflow: $2,199

Break-even live

Break-even rent $2,003

Max offer price $229,000

Occupancy floor 49%

Sensitivity live

Price	-10% $2,357	-5% $2,278	+0% $2,199	+5% $2,120	+10% $2,041
Rent	-10% $1,821	-5% $2,010	+0% $2,199	+5% $2,388	+10% $2,577
Rate	-1.0pp $2,314	-0.5pp $2,257	base $2,199	+0.5pp $2,140	+1.0pp $2,079

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
909 S Elliott Pl Santa Ana, CA	4.0	2.0	1351	$4,700	$3.48	45d	1	0.57mi
2510 W Harvard St Santa Ana, CA	4.0	2.5	1300	$3,900	$3.00	13d	1	1.14mi

Listing history 20 events

1. 2026-06-21
   days on market $229,000 Active 86 DOM
2. 2026-06-18
   days on market $229,000 Active 83 DOM
3. 2026-06-17
   days on market $229,000 Active 82 DOM
4. 2026-06-16
   days on market $229,000 Active 81 DOM
5. 2026-06-15
   days on market $229,000 Active 80 DOM
6. 2026-06-13
   days on market $229,000 Active 78 DOM
7. 2026-06-13
   days on market $229,000 Active 77 DOM
8. 2026-06-09
   days on market $229,000 Active 74 DOM
9. 2026-06-08
   days on market $229,000 Active 73 DOM
10. 2026-06-07
    days on market $229,000 Active 72 DOM
11. 2026-06-04
    days on market $229,000 Active 69 DOM
12. 2026-06-03
    days on market $229,000 Active 68 DOM
13. 2026-06-02
    days on market $229,000 Active 67 DOM
14. 2026-06-01
    days on market $229,000 Active 66 DOM
15. 2026-05-31
    days on market $229,000 Active 65 DOM
16. 2026-04-26
    price $229,000 1127-char remark

    Show marketing remark (1127 chars)

    WOW! MUST-SEE 5 BEDROOM MOBILE HOME in Prime Santa Ana Location Looking for space, comfort, and a fantastic neighborhood? This incredible mobile home is a rare find and truly a must-see property! ?? Location, Location, Location! Situated in a highly sought-after, great neighborhood in Santa Ana, you'll enjoy convenience, community, and easy access to everything you need. ?? Key Features You Will Love: • HUGE 5 Bedrooms - Perfect for a large family, multi-generational living, or having dedicated home offices/gyms! • 2 Full Bathrooms • Master Bedroom Retreat - Features a spacious walk-in closet! • Modern Open Concept Layout - Ideal for entertaining and family gatherings. • Chef's Dream Kitchen - Boasts a big kitchen with ample counter and storage space. • Comfort Year-Round - Equipped with Central AC to keep you cool during the summer. • Sleek Design - Enhanced with modern recessed lighting throughout the main areas. This home offers the space of a traditional house with the benefits of a mobile home community. It's ready for you to move in and start making memories!

17. 2026-03-27
    historical

    Show marketing remark (1127 chars)

    WOW! MUST-SEE 5 BEDROOM MOBILE HOME in Prime Santa Ana Location Looking for space, comfort, and a fantastic neighborhood? This incredible mobile home is a rare find and truly a must-see property! ?? Location, Location, Location! Situated in a highly sought-after, great neighborhood in Santa Ana, you'll enjoy convenience, community, and easy access to everything you need. ?? Key Features You Will Love: • HUGE 5 Bedrooms - Perfect for a large family, multi-generational living, or having dedicated home offices/gyms! • 2 Full Bathrooms • Master Bedroom Retreat - Features a spacious walk-in closet! • Modern Open Concept Layout - Ideal for entertaining and family gatherings. • Chef's Dream Kitchen - Boasts a big kitchen with ample counter and storage space. • Comfort Year-Round - Equipped with Central AC to keep you cool during the summer. • Sleek Design - Enhanced with modern recessed lighting throughout the main areas. This home offers the space of a traditional house with the benefits of a mobile home community. It's ready for you to move in and start making memories!

18. 2026-03-27
    listed $235,999 Active 1127-char remark

    Show marketing remark (1127 chars)

    WOW! MUST-SEE 5 BEDROOM MOBILE HOME in Prime Santa Ana Location Looking for space, comfort, and a fantastic neighborhood? This incredible mobile home is a rare find and truly a must-see property! ?? Location, Location, Location! Situated in a highly sought-after, great neighborhood in Santa Ana, you'll enjoy convenience, community, and easy access to everything you need. ?? Key Features You Will Love: • HUGE 5 Bedrooms - Perfect for a large family, multi-generational living, or having dedicated home offices/gyms! • 2 Full Bathrooms • Master Bedroom Retreat - Features a spacious walk-in closet! • Modern Open Concept Layout - Ideal for entertaining and family gatherings. • Chef's Dream Kitchen - Boasts a big kitchen with ample counter and storage space. • Comfort Year-Round - Equipped with Central AC to keep you cool during the summer. • Sleek Design - Enhanced with modern recessed lighting throughout the main areas. This home offers the space of a traditional house with the benefits of a mobile home community. It's ready for you to move in and start making memories!

19. 2026-01-20
    price $235,999
20. 2025-11-11
    listed $250,000 Active

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥87°F today · 23 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $57,441
• − Mortgage interest: −$12,828
• − Property taxes: −$3,435
• − Insurance: −$1,145
• − Repairs & maintenance: −$4,595
• − Management: −$4,595
• − Depreciation: −$6,662
• Taxable income: $24,181
• Est. tax owed @ 24.0%: −$5,803
• After-tax cash flow: $20,584/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: Garden Grove Unified
• NCES district ID: 0614880
• Math proficiency: 38% ▼ -14.00%
• Reading proficiency: 65% ▲ 4.00%
• Median HH income: $60,089
• Composite: 44.89/100
• National rank: #2715
• State rank: #132 of 517 in CA

Livability — Santa Ana

• Score: 55/100
• State rank: #871
• US rank: #23502

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Santa Ana, CA
• County: Orange County · 3,096,323 people
• City population: 288,255
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 82,120
• Household income: $99,777
• Rent vs Own: 50.9% rent · 49.1% own
• Severe rent burden: 2188.0

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 Hispanic (71%)
• Race & ethnicity: Hispanic / Latino 71% Asian 18% Two or more races 17% White 9% Native American 2%
• Hispanic origin (detail): Mexican 65%
• Common ancestry: Italian 1%
• Foreign-born: 44% · Canada, Vietnam, China
• Languages at home: 22% English-only · Spanish 61% Vietnamese 13% Other Asian/Pacific 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: ▼ -991.35%
• Current HPI: 449.8874
• Rent YoY: ▲ 2.16%
• 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

-8.4% since first listed

5 events — show timeline

• 2026-04-26 Price Changed $229,000 CRMLS
• 2026-03-27 Listed $235,999 CRMLS
• 2026-03-27 Listing Removed — CRMLS
• 2026-01-20 Price Changed $235,999 CRMLS
• 2025-11-11 Listed $250,000 CRMLS

Property tax history

+14.7%/yr

Latest (2025): $89 · +0.5% YoY. Source: county tax records.