1850 W Orangethorpe #25 · Fullerton, CA 92833

$139,999

3 bd · 2.0 ba · 880 sqft · Manufactured · 76 Days on market

Built 1983

---

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 +5.1/10.0
• Livability +3.4/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Wonderfully renovated home in the heart of Fullerton! Close to major freeways, very popular nightlife just minutes away from Downtown Fullerton, and in the Fullerton Joint Union School District. Plenty of opportunities for anyone looking to live in Fullerton! This home offers three bedrooms and two bath; it features a tastefully designed living room that flows into the kitchen. Come look at this home before it's too late, it won't last long!

Key facts

• Renovated home
• Community pool
• Built 1983

Tags

• RENOVATED HOME
• CLOSE TO MAJOR FREEWAYS
• FLOWS INTO THE KITCHEN

Property features AI

Finance

• HOA & community: Land lease of $1,950

Exterior

• Parking: Park name: Country Place Homes
• Utilities: Public sewer; District/public water
• Home design: Single-story home; Mobile home remains on site; Mobile home dimensions approximately 10' x 44'; Located in a land-lease community (Country Place Homes)
• Construction: Year built reported by seller
• Exterior features: Community pool; Sidewalks

Interior

• Bathrooms: 2 full bathrooms
• Interior features: Front entry; Entry at ground level
• Laundry & utility: Community laundry; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $140k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $140k).
• Recommended offer: $132k (6.0% below list) — sets the bar for market timing.
• Cap rate 17.7% 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: schools C-, health & safety D, crime D-.
• 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.
• Market conditions: Rents rising (+1.7%/yr); 63 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals leasing fast (median 1d 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 31% 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 $968 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 + 1.7% rent growth), your $39k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 2y ago 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.
• Current owner paid $50k; list at $140k implies a 180% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $131,599 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 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. 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: 2.08% ✓
• Cap rate: 17.67%
• Cash-on-cash: 40.65%
• DSCR: 2.81
• GRM: 4.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.72% rent growth · sell at horizon

5-year hold

• IRR: 35.7%
• Equity multiple: 2.49×
• Total profit: $58,227
• Equity at exit: $20,874

10-year hold

• IRR: 41.7%
• Equity multiple: 4.70×
• Total profit: $144,995
• Equity at exit: $12,105

Cash invested: $39,200 (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: 4.0×

Monthly cashflow live

• Estimated rent: $2,905 high
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,100/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$610
• Net cashflow: $1,328

Break-even live

Break-even rent $1,225

Max offer price $139,999

Occupancy floor 49%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1601 W Orangethorpe Ave Fullerton, CA	1.0–2.0	1.0	887	$2,080	$2.34	1d	1	0.33mi
1113 S Pine Dr Fullerton, CA	3.0	1.5	1069	$3,900	$3.65	6d	1	0.40mi
1835 West Ave Unit 9 Fullerton, CA	2.0	2.0	750	$2,495	$3.33	1d	1	0.52mi
1422 Peckham St Unit A Fullerton, CA	2.0	1.0	925	$2,500	$2.70	13d	1	0.54mi
1421 Peckham St #1 Fullerton, CA	2.0	2.0	950	$2,650	$2.79	21d	1	0.58mi
130 maple Ln big bear city, CA	2.0	1.0	890	$1,850	$2.08	2d	1	0.85mi
2560 W La Palma Ave Anaheim, CA	2.0	1.0–2.0	775	$2,500	$3.23	1d	5	1.10mi
1156 W Valencia Dr Unit 1156-08-upstairs Fullerton, CA	2.0	1.0	918	$2,250	$2.45	1d	1	1.11mi
3820 W Valencia Dr Fullerton, CA	3.0	1.0	930	$2,895	$3.11	10d	1	1.14mi
1750 W Romneya Dr Anaheim, CA	2.0	1.0–2.0	830	$2,700	$3.25	1d	1	1.15mi
2337 W Gramercy Ave Unit 1 Anaheim, CA	2.0	2.0	957	$2,800	$2.93	10d	1	1.16mi
2337 W Gramercy Ave Unit 3 Anaheim, CA	2.0	2.0	957	$2,995	$3.13	1d	1	1.16mi
702 N Gilbert St Anaheim, CA	2.0	1.0	920	$2,200	$2.39	1d	1	1.21mi
1020 N Magnolia Ave Anaheim, CA	2.0	1.0	980	$2,491	$2.54	3d	1	1.21mi
1304 W Commonwealth Ave Fullerton, CA	2.0	1.5	900	$2,500	$2.78	1d	1	1.22mi
630 Bridgeport Cir #8 Fullerton, CA	2.0	1.0	704	$2,475	$3.52	1d	1	1.24mi
8640 Auto Center Dr Buena Park, CA	2.0	1.0–1.5	1058	$2,500	$2.36	1d	2	1.25mi
1737 W Jacaranda Pl Fullerton, CA	3.0	1.0	958	$3,500	$3.65	1d	1	1.27mi
2631 W Felicidad Cir Unit 626-D Anaheim, CA	2.0	1.0	940	$2,955	$3.14	1d	1	1.29mi
2631 W Felicidad Cir Unit 619-D Anaheim, CA	2.0	1.0	940	$2,895	$3.08	1d	1	1.29mi
2631 W Felicidad Cir Anaheim, CA	2.0	1.0	940	$2,710	$2.88	1d	1	1.29mi
1236 N Dresden Pl Unit C Anaheim, CA	2.0	1.0	800	$2,750	$3.44	1d	1	1.29mi
2375 W Crescent Ave Anaheim, CA	1.0–2.0	1.0	820	$2,625	$3.20	1d	3	1.30mi
1655 W Malvern Ave Unit 1655-06 Fullerton, CA	2.0	1.0	850	$2,395	$2.82	1d	1	1.34mi
4109 Carol Dr Unit H Fullerton, CA	2.0	2.0	945	$2,650	$2.80	10d	1	1.36mi
1834 W Greenleaf Ave Unit C Anaheim, CA	2.0	1.0	1000	$2,100	$2.10	12d	1	1.37mi
2130 W Crescent Ave Anaheim, CA	2.0–3.0	2.0	1062	$3,860	$3.63	1d	10	1.37mi
1810 W Greenleaf Ave Anaheim, CA	2.0	1.0	1000	$2,295	$2.29	1d	1	1.40mi
603 N Chippewa Ave Anaheim, CA	1.0–2.0	1.0–2.0	871	$2,575	$2.95	1d	3	1.42mi
1826 W Gramercy Ave Unit 28-B Anaheim, CA	2.0	1.0	900	$2,150	$2.39	1d	1	1.44mi
2020 W Alameda Ave Anaheim, CA	1.0–2.0	1.0–2.0	950	$2,682	$2.82	1d	5	1.49mi
2020 W Alameda Ave Anaheim, CA	1.0–2.0	1.0–2.0	950	$2,682	$2.82	15d	1	1.49mi

Listing history 38 events

1. 2026-06-18
   days on market $139,999 Active 76 DOM
2. 2026-06-17
   days on market $139,999 Active 75 DOM
3. 2026-06-16
   days on market $139,999 Active 74 DOM
4. 2026-06-15
   days on market $139,999 Active 73 DOM
5. 2026-06-13
   days on market $139,999 Active 71 DOM
6. 2026-06-13
   days on market $139,999 Active 70 DOM
7. 2026-06-09
   days on market $139,999 Active 67 DOM
8. 2026-06-08
   days on market $139,999 Active 66 DOM
9. 2026-06-07
   days on market $139,999 Active 65 DOM
10. 2026-06-04
    days on market $139,999 Active 62 DOM
11. 2026-06-03
    days on market $139,999 Active 61 DOM
12. 2026-06-02
    days on market $139,999 Active 60 DOM
13. 2026-06-01
    days on market $139,999 Active 59 DOM
14. 2026-05-31
    days on market $139,999 Active 58 DOM
15. 2026-04-03
    listed $139,999 Active
16. 2026-03-14
    historical
17. 2026-02-02
    price $139,900
18. 2025-11-15
    listed $149,900 Active
19. 2025-08-04
    price $180,000
20. 2025-06-25
    price $185,000
21. 2025-05-03
    status Active
22. 2025-04-05
    listed $189,000 Active
23. 2024-11-26
    soldstatus $50,000 Closed Sale
24. 2024-10-30
    status Pending Sale
25. 2024-10-07
    price $69,999
26. 2024-10-06
    price $79,999
27. 2024-09-30
    price $80,000
28. 2024-09-29
    price $94,999
29. 2024-09-29
    price $94,999
30. 2024-09-29
    price $99,999
31. 2024-09-29
    price $99,999
32. 2024-09-22
    price $108,000
33. 2024-09-10
    price $118,000
34. 2024-09-01
    price $122,000
35. 2024-08-23
    status Active
36. 2024-08-20
    status Active
37. 2024-08-16
    status Active
38. 2024-08-14
    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 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥92°F today · 22 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: $34,864
• − Mortgage interest: −$7,842
• − Property taxes: −$2,100
• − Insurance: −$700
• − Repairs & maintenance: −$2,789
• − Management: −$2,789
• − Depreciation: −$4,073
• Taxable income: $14,571
• Est. tax owed @ 24.0%: −$3,497
• After-tax cash flow: $12,436/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: 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

+7.7% since first listed

24 events — show timeline

• 2026-04-03 Listed $139,999 CRMLS
• 2026-03-14 Listing Removed — CRMLS
• 2026-02-02 Price Changed $139,900 CRMLS
• 2025-11-15 Listed $149,900 CRMLS
• 2025-08-04 Price Changed $180,000 CRMLS
• 2025-06-25 Price Changed $185,000 CRMLS
• 2025-05-03 Relisted — CRMLS
• 2025-04-05 Listed $189,000 CRMLS
• 2024-11-26 Sold (MLS) $50,000 CRMLS
• 2024-10-30 Pending — CRMLS
• 2024-10-07 Price Changed $69,999 CRMLS
• 2024-10-06 Price Changed $79,999 CRMLS
• 2024-09-30 Price Changed $80,000 CRMLS
• 2024-09-29 Price Changed $94,999 CRMLS
• 2024-09-29 Price Changed $94,999 CRMLS
• 2024-09-29 Price Changed $99,999 CRMLS
• 2024-09-29 Price Changed $99,999 CRMLS
• 2024-09-22 Price Changed $108,000 CRMLS
• 2024-09-10 Price Changed $118,000 CRMLS
• 2024-09-01 Price Changed $122,000 CRMLS
• 2024-08-23 Relisted — CRMLS
• 2024-08-20 Relisted — CRMLS
• 2024-08-16 Relisted — CRMLS
• 2024-08-14 Listed $130,000 CRMLS

Property tax history

+2.3%/yr

Latest (2025): $47 · +2.1% YoY. Source: county tax records.