12062 W Edinger Spc 19 · Fountain Valley, CA 92704

$120,000

3 bd · 2.0 ba · 960 sqft · Manufactured · 62 Days on market

Built 1998 3.85 ac lot $125/sqft · 14% below area Est $140k · 14% under

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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
• ARV discount +13.9/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.5/10.0
• Livability +3.2/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this bright home in Le Fontaine Estates of Santa Ana. This residence features a spacious living area, a functional kitchen with an indoor laundry area, and a comfortable layout ready for your personal touch. The home offers good natural light and a generously sized primary bedroom with ample closet space. Conveniently located near shopping, dining, schools, parks, and with easy access to the 405 and 22 freeways. The monthly land lease is $ 2,115.

Key facts

• Functional kitchen
• Indoor laundry area
• Spacious living area

Tags

• SPACIOUS LIVING AREA
• FUNCTIONAL KITCHEN
• INDOOR LAUNDRY AREA
• GOOD NATURAL LIGHT
• AMPLE CLOSET SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $120k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $120k).
• Recommended offer: $113k (6.0% below list) — sets the bar for market timing.
• Cap rate 22.0% vs local median 2.0% in Fountain Valley — 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 64/100 on livability (#403 in CA) — a middle-class / working-renter tenant base. Strengths: employment A+, schools A, crime B; Watch: commute F, cost of living F, health & safety 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.
• Market conditions: Rents rising (+2.2%/yr); 80 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 6,974 units permitted in Orange County in 2024 (3,839 in 5+ unit buildings).
• This rent runs 37% of the median local income ($100k/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 $830 of loan paydown is wiped out by about $4k 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 $34k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $112,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% 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: 2.54% ✓
• Cap rate: 22.03%
• Cash-on-cash: 56.21%
• DSCR: 3.50
• GRM: 3.3

CMA / ARV

• ARV (median comp): $140,000
• List price: $120,000
• Delta: -14.29%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12062 W Edinger Ave #59	0.00mi	3/2.0	960 (0%)	11mo	$190,000	$198	91

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 · 2.16% rent growth · sell at horizon

5-year hold

• IRR: 53.6%
• Equity multiple: 3.33×
• Total profit: $78,298
• Equity at exit: $17,892

10-year hold

• IRR: 58.5%
• Equity multiple: 6.57×
• Total profit: $187,163
• Equity at exit: $10,375

Cash invested: $33,600 (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: 80
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $3,042 high
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,800/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$639
• Net cashflow: $1,574

Break-even live

Break-even rent $1,050

Max offer price $120,000

Occupancy floor 43%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16350 S Harbor Blvd Santa Ana, CA	1.0–2.0	1.0	800	$2,870	$3.59	43d	1	0.10mi
2513 W Occidental St Santa Ana, CA	2.0	2.0	980	$3,495	$3.57	7d	1	0.88mi
11630 Warner Ave #412 Fountain Valley, CA	2.0	2.0	1040	$2,850	$2.74	24d	1	0.90mi
2417 W Stanford St Santa Ana, CA	2.0	1.0	700	$3,200	$4.57	24d	1	0.93mi
11620 Warner Ave Fountain Valley, CA	1.0–2.0	1.0–2.0	891	$2,700	$3.03	43d	1	0.94mi
11620 Warner Ave #524 Fountain Valley, CA	2.0	2.0	970	$2,700	$2.78	10d	1	0.94mi
17200 Newhope St Fountain Valley, CA	2.0	1.0–2.0	900	$2,850	$3.17	5d	3	1.01mi
17200 Newhope St Fountain Valley, CA	2.0	1.0–2.0	900	$2,850	$3.17	7d	4	1.01mi
517 S Newhope St Santa Ana, CA	2.0	1.0	840	$2,125	$2.53	44d	1	1.07mi
16245 Mount Baden Powell St Fountain Valley, CA	2.0	2.0	900	$2,650	$2.94	43d	1	1.09mi
11300 Warner Ave Fountain Valley, CA	1.0–2.0	1.0–2.0	821	$3,250	$3.96	7d	3	1.10mi
308 S Laurel St Unit C Santa Ana, CA	2.0	1.0	950	$2,650	$2.79	43d	1	1.12mi
2613 S Fairview St Santa Ana, CA	1.0–2.0	1.0	762	$2,778	$3.64	7d	3	1.16mi
4800 W McFadden Ave Santa Ana, CA	2.0	1.0	820	$2,450	$2.99	18d	1	1.16mi
2701 S Fairview St Santa Ana, CA	1.0–2.0	1.0–2.0	885	$3,045	$3.44	24d	4	1.27mi
4200 W 1st St Santa Ana, CA	1.0–2.0	1.0–2.0	714	$2,997	$4.19	1d	4	1.32mi
3200 W 5th St Santa Ana, CA	1.0–2.0	1.0–2.0	769	$2,795	$3.63	2d	9	1.43mi
3900 W 5th St Santa Ana, CA	1.0–2.0	1.0–2.0	780	$2,175	$2.79	13d	1	1.45mi
17300 Euclid St Fountain Valley, CA	2.0	1.5	1002	$2,752	$2.75	1d	6	1.47mi

Listing history 17 events

1. 2026-06-18
   days on market $120,000 Active 62 DOM
2. 2026-06-17
   days on market $120,000 Active 61 DOM
3. 2026-06-16
   days on market $120,000 Active 60 DOM
4. 2026-06-15
   days on market $120,000 Active 59 DOM
5. 2026-06-13
   days on market $120,000 Active 57 DOM
6. 2026-06-13
   pricedays on market $120,000 Active 56 DOM
7. 2026-06-09
   days on market $130,000 Active 53 DOM
8. 2026-06-08
   days on market $130,000 Active 52 DOM
9. 2026-06-07
   days on market $130,000 Active 51 DOM
10. 2026-06-04
    days on market $130,000 Active 48 DOM
11. 2026-06-03
    days on market $130,000 Active 47 DOM
12. 2026-06-02
    days on market $130,000 Active 46 DOM
13. 2026-06-01
    days on market $130,000 Active 45 DOM
14. 2026-05-31
    days on market $130,000 Active 44 DOM
15. 2026-04-17
    historical

    Show marketing remark (461 chars)

    Welcome to this bright home in Le Fontaine Estates of Santa Ana. This residence features a spacious living area, a functional kitchen with an indoor laundry area, and a comfortable layout ready for your personal touch. The home offers good natural light and a generously sized primary bedroom with ample closet space. Conveniently located near shopping, dining, schools, parks, and with easy access to the 405 and 22 freeways. The monthly land lease is $ 2,115.

16. 2026-04-17
    listed $130,000 Active 461-char remark

    Show marketing remark (461 chars)

    Welcome to this bright home in Le Fontaine Estates of Santa Ana. This residence features a spacious living area, a functional kitchen with an indoor laundry area, and a comfortable layout ready for your personal touch. The home offers good natural light and a generously sized primary bedroom with ample closet space. Conveniently located near shopping, dining, schools, parks, and with easy access to the 405 and 22 freeways. The monthly land lease is $ 2,115.

17. 2026-03-25
    listed $130,000 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 · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 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: $36,505
• − Mortgage interest: −$6,722
• − Property taxes: −$1,800
• − Insurance: −$600
• − Repairs & maintenance: −$2,920
• − Management: −$2,920
• − Depreciation: −$3,491
• Taxable income: $18,052
• Est. tax owed @ 24.0%: −$4,332
• After-tax cash flow: $14,555/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 — Fountain Valley

• Score: 64/100
• State rank: #403
• US rank: #13744

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Orange County · 3,096,323 people
• City population: 56,258
• 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

+0.0% since first listed

3 events — show timeline

• 2026-04-17 Listed $130,000 CRMLS
• 2026-04-17 Listing Removed — CRMLS
• 2026-03-25 Listed $130,000 CRMLS

Property tax history

-4.2%/yr

Latest (2025): $224 · -0.1% YoY. Source: county tax records.