2191 Harbor Blvd #65 · Costa Mesa, CA 92627

$95,000

2 bd · 2.0 ba · 750 sqft · Manufactured · 472 Days on market

Built 1997 $127/sqft · 39% below area Est $155k · 39% under

---

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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.8/10.0
• Livability +3.1/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 1997 Mobile home has 2 bedrooms and 2 full bathrooms, an inside laundry room with access to the backyard, a driveway next to the house, and a Front patio cover with a beautiful garden.

Key facts

• Backyard access
• Front patio cover
• Inside laundry room

Tags

• INSIDE LAUNDRY ROOM
• BACKYARD ACCESS
• DRIVEWAY NEXT TO HOUSE
• FRONT PATIO COVER

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $95k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $95k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• Cap rate 27.6% vs local median 1.8% in Costa Mesa — 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 61/100 on livability (#558 in CA) — a middle-class / working-renter tenant base. Strengths: employment A+, amenities B; Watch: schools C-, health & safety D+, crime F.
• Newport-Mesa Unified (urban): math 46% / reading 58% proficiency, ranked #106 of 517 in CA (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.7%/yr); 100 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 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 33% of the median local income ($109k/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 $657 of loan paydown is wiped out by about $3k 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 $27k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 472 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 20y ago; this cycle's ask has dropped $30k (24%) 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 $83,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 472 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. Crime grade is F 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: 3.13% ✓
• Cap rate: 27.63%
• Cash-on-cash: 76.19%
• DSCR: 4.39
• GRM: 2.7

CMA / ARV

• ARV (median comp): $155,000
• List price: $95,000
• Delta: -38.71%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
327 W Wilson #88	0.43mi	2/2.0	768 (+2%)	3mo	$155,000	$202	74
1973 Newport Blvd #50	0.53mi	2/2.0	780 (+4%)	13mo	$160,000	$205	58
327 W Wilson St #49	0.43mi	2/1.0	816 (+9%)	4mo	$165,000	$202	58
1973 Newport Blvd #17	0.56mi	2/2.0	800 (+7%)	10mo	$136,000	$170	54

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 · 1.71% rent growth · sell at horizon

5-year hold

• IRR: 74.7%
• Equity multiple: 4.32×
• Total profit: $88,414
• Equity at exit: $14,165

10-year hold

• IRR: 78.1%
• Equity multiple: 8.54×
• Total profit: $200,471
• Equity at exit: $8,214

Cash invested: $26,600 (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 92627

• Rents YoY: 1.7%
• Active inventory: 100
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $2,969 high
• Mortgage (P&I): −$498
• Tax est. 1.5%: −$119 /mo · $1,425/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$623
• Net cashflow: $1,689

Break-even live

Break-even rent $831

Max offer price $95,000

Occupancy floor 38%

Sensitivity live

Price	-10% $1,755	-5% $1,722	+0% $1,689	+5% $1,656	+10% $1,623
Rent	-10% $1,454	-5% $1,572	+0% $1,689	+5% $1,806	+10% $1,923
Rate	-1.0pp $1,737	-0.5pp $1,713	base $1,689	+0.5pp $1,664	+1.0pp $1,639

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1995 Maple St Unit 1999-202 Costa Mesa, CA	2.0	1.0	704	$2,650	$3.76	44d	1	0.19mi
1995 Maple St Costa Mesa, CA	2.0	1.0	704	$2,575	$3.66	6d	1	0.19mi
592 Hamilton St Apt C Costa Mesa, CA	2.0	1.0	810	$3,800	$4.69	44d	1	0.27mi
427 Hamilton St Costa Mesa, CA	2.0	1.0	1000	$2,900	$2.90	25d	1	0.30mi
393 Hamilton St Unit B1 Costa Mesa, CA	1.0	1.0	576	$2,200	$3.82	21d	1	0.34mi
370 Hamilton St Unit A Costa Mesa, CA	2.0	1.5	1000	$3,100	$3.10	44d	1	0.35mi
393 Hamilton St Unit N1 Costa Mesa, CA	1.0	1.0	576	$2,050	$3.56	21d	1	0.37mi
673 Victoria St Costa Mesa, CA	2.0	1.0	700	$3,000	$4.29	17d	1	0.40mi
2029 Harbor Blvd Unit 7 Costa Mesa, CA	2.0	1.0	616	$2,850	$4.63	8d	1	0.40mi
2029 Harbor Blvd Unit 8 Costa Mesa, CA	2.0	1.0	638	$2,750	$4.31	25d	1	0.40mi
2002 Maple Ave Costa Mesa, CA	2.0	1.0	950	$2,595	$2.73	25d	1	0.43mi
1999 Maple Ave Unit 202 Costa Mesa, CA	2.0	1.0	704	$2,575	$3.66	8d	1	0.50mi
2000 Parsons St Costa Mesa, CA	1.0–2.0	1.0–2.0	800	$3,215	$4.02	14d	5	0.50mi
2400 Harbor Blvd Costa Mesa, CA	1.0–2.0	1.0–2.5	1010	$3,779	$3.74	0d	16	0.53mi
260 Victoria St Unit D-4 Costa Mesa, CA	2.0	2.5	920	$3,995	$4.34	44d	1	0.55mi
241 W Wilson St Costa Mesa, CA	2.0	1.0	904	$2,595	$2.87	17d	1	0.62mi
2258 Pamela Ln Unit A Costa Mesa, CA	3.0	2.0	950	$3,695	$3.89	4d	1	0.65mi
2212 Placentia Ave Unit A Costa Mesa, CA	3.0	1.0	1000	$3,400	$3.40	44d	1	0.66mi
2061-D Wallace Ave Costa Mesa, CA	2.0	1.5	986	$2,735	$2.77	25d	1	0.67mi
2218 Placentia Ave Unit D Costa Mesa, CA	2.0	1.0	900	$3,000	$3.33	44d	1	0.67mi
117 E Bay St Unit A Costa Mesa, CA	2.0	1.0	787	$2,750	$3.49	25d	1	0.68mi
121 E Bay St Unit 121D Costa Mesa, CA	2.0	1.0	788	$2,850	$3.62	21d	1	0.69mi
121 E Bay St Unit D Costa Mesa, CA	2.0	1.0	788	$2,850	$3.62	25d	1	0.69mi
790 Hamilton St Costa Mesa, CA	1.0	1.0	555	$2,300	$4.14	23d	1	0.69mi
132 E Bay St Costa Mesa, CA	2.0	1.0	900	$2,700	$3.00	14d	1	0.70mi
136 E Bay St Costa Mesa, CA	1.0	1.0	700	$2,550	$3.64	44d	1	0.71mi
1975 Pomona Ave Costa Mesa, CA	1.0	1.0	650	$1,995	$3.07	14d	1	0.72mi
2115 Placentia Ave Costa Mesa, CA	1.0–2.0	1.0–2.0	725	$2,595	$3.58	3d	4	0.75mi
138 Walnut St Costa Mesa, CA	2.0	2.0	1008	$5,500	$5.46	45d	1	0.79mi
1947 Fullerton Ave Costa Mesa, CA	2.0	1.0	824	$3,895	$4.73	25d	1	0.80mi
140 W Wilson St Costa Mesa, CA	1.0	1.0	585	$2,250	$3.85	21d	1	0.84mi
177 22nd St Costa Mesa, CA	1.0	1.0	740	$2,625	$3.55	44d	1	0.85mi
131 Albert Pl Unit D Costa Mesa, CA	2.0	2.0	913	$4,200	$4.60	44d	1	0.86mi
2345 Newport Blvd Costa Mesa, CA	2.0	2.0	880	$3,032	$3.45	2d	5	0.89mi
127 Broadway Unit 131 B Costa Mesa, CA	2.0	1.0	1000	$3,495	$3.50	23d	1	0.91mi
2414 Richmond Way Costa Mesa, CA	2.0	2.0	850	$3,000	$3.53	5d	1	0.93mi
425 Merrimac Way Costa Mesa, CA	1.0	1.0	600	$2,540	$4.23	3d	6	0.95mi
2323 Elden Ave Costa Mesa, CA	1.0	1.0	684	$2,445	$3.57	4d	2	0.96mi
109 Clearbrook Ln Unit C Costa Mesa, CA	1.0	1.0	750	$2,450	$3.27	25d	1	1.03mi
2367 Elden Ave Costa Mesa, CA	1.0	1.0	1000	$2,500	$2.50	44d	1	1.04mi

Listing history 20 events

1. 2026-06-21
   days on market $95,000 Active 472 DOM
2. 2026-06-18
   days on market $95,000 Active 469 DOM
3. 2026-06-17
   days on market $95,000 Active 468 DOM
4. 2026-06-16
   days on market $95,000 Active 467 DOM
5. 2026-06-15
   days on market $95,000 Active 466 DOM
6. 2026-06-13
   days on market $95,000 Active 464 DOM
7. 2026-06-13
   days on market $95,000 Active 463 DOM
8. 2026-06-09
   days on market $95,000 Active 460 DOM
9. 2026-06-08
   days on market $95,000 Active 459 DOM
10. 2026-06-07
    days on market $95,000 Active 458 DOM
11. 2026-06-04
    days on market $95,000 Active 455 DOM
12. 2026-06-03
    days on market $95,000 Active 454 DOM
13. 2026-06-02
    days on market $95,000 Active 453 DOM
14. 2026-06-01
    days on market $95,000 Active 452 DOM
15. 2026-05-31
    days on market $95,000 Active 451 DOM
16. 2025-11-06
    price $95,000 189-char remark

    Show marketing remark (189 chars)

    This 1997 Mobile home has 2 bedrooms and 2 full bathrooms, an inside laundry room with access to the backyard, a driveway next to the house, and a Front patio cover with a beautiful garden.

17. 2025-07-03
    price $110,000 189-char remark

    Show marketing remark (189 chars)

    This 1997 Mobile home has 2 bedrooms and 2 full bathrooms, an inside laundry room with access to the backyard, a driveway next to the house, and a Front patio cover with a beautiful garden.

18. 2025-03-06
    listed $125,000 Active 189-char remark

    Show marketing remark (189 chars)

    This 1997 Mobile home has 2 bedrooms and 2 full bathrooms, an inside laundry room with access to the backyard, a driveway next to the house, and a Front patio cover with a beautiful garden.

19. 2007-01-27
    historical
20. 2006-07-26
    listed $83,000

ⓘ 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 5/10 Major 7 d/yr ≥85°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: $35,627
• − Mortgage interest: −$5,321
• − Property taxes: −$1,425
• − Insurance: −$475
• − Repairs & maintenance: −$2,850
• − Management: −$2,850
• − Depreciation: −$2,764
• Taxable income: $19,942
• Est. tax owed @ 24.0%: −$4,786
• After-tax cash flow: $15,481/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: Newport-Mesa Unified
• NCES district ID: 0627240
• Math proficiency: 46% ▼ -6.00%
• Reading proficiency: 58% ▼ -5.00%
• Median HH income: $83,922
• Composite: 47.64/100
• National rank: #2248
• State rank: #106 of 517 in CA

Livability — Costa Mesa

• Score: 61/100
• State rank: #558
• US rank: #18441

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Costa Mesa, CA
• County: Orange County · 3,096,323 people
• City population: 111,101
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 60,393
• Household income: $108,994
• Rent vs Own: 61.5% rent · 38.5% own
• Severe rent burden: 2889.0

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 0.60)
• Race & ethnicity: White 48% Hispanic / Latino 41% Two or more races 18% Asian 4% Native American 1%
• Hispanic origin (detail): Mexican 32%
• Common ancestry: Italian 4% Slovak 2% Romanian 2%
• Foreign-born: 22% · Canada, Vietnam, Jamaica
• Languages at home: 62% English-only · Spanish 32% Other Indo-European 1% Other Asian/Pacific 1%

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: ▼ -1520.53%
• Current HPI: 455.1299
• Rent YoY: ▲ 1.71%
• 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

+14.5% since first listed

5 events — show timeline

• 2025-11-06 Price Changed $95,000 CRMLS
• 2025-07-03 Price Changed $110,000 CRMLS
• 2025-03-06 Listed $125,000 CRMLS
• 2007-01-27 Listing Removed — CRMLS
• 2006-07-26 Listed $83,000 CRMLS

Property tax history

-4.5%/yr

Latest (2025): $134 · -6.8% YoY. Source: county tax records.