2514 W Orangethorpe #35 · Fullerton, CA 92833

$210,000

2 bd · 2.0 ba · 1,680 sqft · Manufactured · 48 Days on market

Built 1978 Average condition Est $173k · 21% over

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Why this score? — see what drove the C+ 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
• Schools +5.1/10.0
• Livability +3.4/5.0
• Rent growth +2.9/5.0
• Condition / age +2.8/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Spacious three-section manufactured home offering an expansive, flexible floor plan designed for comfortable living and effortless entertaining. This home truly feels large, featuring a generous living room and formal dining area ideal for gatherings, along with an oversized den/family room that provides even more space to relax, host, or customize to your needs. A versatile bonus area in the Primary room offers the perfect setup for guests, a home office, or hobbies. The home includes 2 generously sized bedrooms, including a private primary suite with walk-in closet and dressing area, all laid out with a natural, easy flow. A large laundry room adds everyday convenience. Step outside to a

Key facts

• Oversized den
• Flexible floor plan
• Versatile bonus area

Tags

• FLEXIBLE FLOOR PLAN
• OVERSIZED DEN
• VERSATILE BONUS AREA
• PRIVATE PRIMARY SUITE
• WALK-IN CLOSET
• LARGE LAUNDRY ROOM

Property features AI

Finance

• Other: Living area is estimated
• Financial info: Land lease: $1,632 per month (includes water and trash)
• HOA & community: Community features include street lighting; Park name: Fullerton Mobile Estates, LLC; Manager approval required; Pets allowed with breed restrictions

Exterior

• Parking: Carport with 2 parking spaces
• Utilities: Public sewer; District/public water
• Home design: Manufactured/mobile home (model: Goldenage, 12' x 60'); Single story; Mobile home remains on site
• Construction: Year built: other/unspecified
• Exterior features: Front porch; Open patio; Deck; Community pool; Greenbelt; No sprinkler system

Interior

• Kitchen: Gas range; Double oven
• Bedrooms: All bedrooms on the main floor
• Bathrooms: Two full bathrooms; Master bath with double sinks; Shower and shower-in-tub
• Heating & cooling: Forced air heating; Central cooling
• Interior features: One-level home; Entry accessed via stairs; Main floor primary bedroom; Primary suite; Bonus room; Living room and family room; Walk-in closet; Laundry room (inside, individual room)
• Laundry & utility: Inside laundry in a dedicated room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $210k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $210k).
• Recommended offer: $204k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.1% vs local median 2.0% in Fullerton — 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 67/100 on livability (#328 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+; Watch: health & safety D, crime D-, cost of living F.
• Fullerton Joint Union High (suburban): math 51% / reading 66% proficiency, ranked #82 of 517 in CA (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Buena Park High (math 28% / reading 50%, grade F, #558 of 1,170 statewide, top 48%, 1,804 students, 84% FRL).
• Zoned-school proficiency averages 39% at this address vs 58% district-wide (-20 pts) — the specific schools serving this property underperform the Fullerton Joint Union High average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.7%/yr); 63 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 35% of the median local income ($114k/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 + 1.7% rent growth), your $59k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($204k) is reasonable based on typical stale-listing flexibility.

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 $203,700 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.59% ✓
• Cap rate: 13.09%
• Cash-on-cash: 24.27%
• DSCR: 2.08
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $173,040
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2514 W Orangethorpe Ave #7	0.01mi	2/2.0	1,700 (+1%)	10mo	$175,000	$103	89

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 · 1.72% rent growth · sell at horizon

5-year hold

• IRR: 16.1%
• Equity multiple: 1.64×
• Total profit: $37,512
• Equity at exit: $31,312

10-year hold

• IRR: 23.8%
• Equity multiple: 2.93×
• Total profit: $113,400
• Equity at exit: $18,157

Cash invested: $58,800 (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 92833

• Rents YoY: 1.7%
• Active inventory: 63
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $3,342 high
• Mortgage (P&I): −$1,101
• Tax est. 1.5%: −$262 /mo · $3,150/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$702
• Net cashflow: $1,189

Break-even live

Break-even rent $1,837

Max offer price $210,000

Occupancy floor 59%

Sensitivity live

Price	-10% $1,334	-5% $1,262	+0% $1,189	+5% $1,117	+10% $1,044
Rent	-10% $925	-5% $1,057	+0% $1,189	+5% $1,321	+10% $1,453
Rate	-1.0pp $1,295	-0.5pp $1,243	base $1,189	+0.5pp $1,135	+1.0pp $1,079

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1400 Peckham St Fullerton, CA	2.0	2.0	1200	$2,650	$2.21	1d	1	0.10mi
1113 S Pine Dr Fullerton, CA	3.0	1.5	1069	$3,900	$3.65	6d	1	0.36mi
6998 Crimson Dr Buena Park, CA	3.0	2.5	1819	$4,100	$2.25	18d	1	0.36mi
2721 W Olive Ave Fullerton, CA	3.0	2.0	1654	$3,700	$2.24	3d	1	0.44mi
8640 Auto Center Dr Buena Park, CA	2.0	1.0–1.5	1058	$2,500	$2.36	1d	2	0.64mi
1612 W Hill Ave Fullerton, CA	3.0	2.0	1453	$3,500	$2.41	24d	1	0.94mi
8041 Page St Buena Park, CA	2.0	1.5	1080	$2,550	$2.36	2d	2	1.22mi
8041 Page St Apt 11 Buena Park, CA	2.0	1.5	1080	$2,550	$2.36	22d	1	1.22mi
1406 W Roberta Ave Fullerton, CA	3.0	2.5	1750	$8,250	$4.71	22d	1	1.25mi
522 N Hampton St Anaheim, CA	3.0	1.5	1139	$3,300	$2.90	19d	1	1.28mi
8182 7th St Unit 12 Buena Park, CA	2.0	1.5	1075	$2,750	$2.56	18d	1	1.32mi
1442 W Valencia Dr Fullerton, CA	3.0	2.0	1761	$3,750	$2.13	3d	1	1.34mi

Listing history 15 events

1. 2026-06-18
   days on market $210,000 Active 48 DOM
2. 2026-06-17
   days on market $210,000 Active 47 DOM
3. 2026-06-16
   days on market $210,000 Active 46 DOM
4. 2026-06-15
   days on market $210,000 Active 45 DOM
5. 2026-06-13
   days on market $210,000 Active 43 DOM
6. 2026-06-13
   days on market $210,000 Active 42 DOM
7. 2026-06-09
   days on market $210,000 Active 39 DOM
8. 2026-06-08
   days on market $210,000 Active 38 DOM
9. 2026-06-07
   days on market $210,000 Active 37 DOM
10. 2026-06-04
    days on market $210,000 Active 34 DOM
11. 2026-06-03
    days on market $210,000 Active 33 DOM
12. 2026-06-02
    days on market $210,000 Active 32 DOM
13. 2026-06-01
    days on market $210,000 Active 31 DOM
14. 2026-05-31
    days on market $210,000 Active 30 DOM
15. 2026-05-01
    listed $210,000 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 4/10 Moderate FEMA zone X (shaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥92°F today · 23 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 9 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,108
• − Mortgage interest: −$11,763
• − Property taxes: −$3,150
• − Insurance: −$1,050
• − Repairs & maintenance: −$3,209
• − Management: −$3,209
• − Depreciation: −$6,109
• Taxable income: $11,619
• Est. tax owed @ 24.0%: −$2,788
• After-tax cash flow: $11,482/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

Average 55/100 Moderate rehab

This manufactured home requires moderate renovations to update the kitchen and bathrooms, which would significantly increase its resale value.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of replacement
• Moderate bathroom fixtures — outdated and in need of replacement
• Minor exterior siding — slight wear

Value-add opportunities

• Resale update kitchen cabinets and countertops — modernizing the kitchen would attract more buyers
• Resale replace outdated bathroom fixtures — newer fixtures would appeal to potential buyers
• Both paint interior walls — improves the home's appearance and can be done inexpensively

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of replacement	Moderate	$3,000–15,000
bathroom fixtures · outdated and in need of replacement	Moderate	$3,000–15,000
exterior siding · slight wear	Minor	$500–3,000
Total estimated repair cost · 3 items		$6,500–33,000

Value-add ROI direction

• Resale update kitchen cabinets and countertops — modernizing the kitchen would attract more buyers ↑
• Resale replace outdated bathroom fixtures — newer fixtures would appeal to potential buyers ↑
• Both paint interior walls — improves the home's appearance and can be done inexpensively ↑

ⓘ 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: Fullerton Joint Union High
• NCES district ID: 0614760
• Math proficiency: 51% ▲ 7.00%
• Reading proficiency: 66% ▲ 1.00%
• Median HH income: $66,666
• Composite: 51.37/100
• National rank: #1735
• State rank: #82 of 517 in CA

Livability — Fullerton

• Score: 67/100
• State rank: #328
• US rank: #11149

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fullerton, CA
• County: Orange County · 3,096,323 people
• City population: 140,763
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 51,842
• Household income: $114,176
• Rent vs Own: 44.2% rent · 55.8% own
• Severe rent burden: 2530.0

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 0.68)
• Race & ethnicity: Hispanic / Latino 40% Asian 35% White 20% Two or more races 15% Black 2%
• Hispanic origin (detail): Mexican 34%
• Common ancestry: Italian 1% Slovak 1% Iranian 1%
• Foreign-born: 36% · South Korea, Canada, China
• Languages at home: 46% English-only · Spanish 24% Korean 20% Other Indo-European 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: ▼ -917.00%
• Current HPI: 351.652
• Rent YoY: ▲ 1.72%
• 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

• 2026-05-01 Listed $210,000 CRMLS