3338 Punta Alta Unit 2D · Laguna Woods, CA 92637

$299,000

1 bd · 1.0 ba · 725 sqft · Condo public records · 14 Days on market

Built 1973 $931/mo HOA · 33% of rent

---

Why this score? — see what drove the D 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).

• Appreciation +7.9/10.0
• ARV discount +7.5/15.0
• Cash flow +6.5/30.0
• Schools +5.6/10.0
• 1% rule +4.3/10.0
• Rent growth +4.2/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• DSCR +0.7/10.0

Listing remarks

This 1bd/1ba Sierra(837 sq. ft. ) is located in Laguna Woods Village- the premier 55+ active community in Orange County. The Village is near Laguna Beach and offers many great amenities such as: 27-hole golf course, tennis courts, separate pickle ball courts, five swimming pools, three fitness centers, seven clubhouses including Clubhouse 4 offering amazing classes in art, ceramics, wood shop, jewelry-making, and sewing, and much more. As you walk through the front door you enter into a spacious living room with a beautiful view. Your balcony is perfect for enjoying for your morning coffee. There is a large walk in closet in the bedroom providing additional storage. The home is move in read

Key facts

• Pickle ball courts
• 27 hole golf course
• Tennis courts

Tags

• LAGUNA WOODS VILLAGE
• 55 ACTIVE COMMUNITY
• 27 HOLE GOLF COURSE
• TENNIS COURTS
• PICKLE BALL COURTS
• FIVE SWIMMING POOLS

Property features AI

Finance

• Other: Senior community; Community size: 12,736 units; Builder model: Sierra
• HOA & community: Part of Third Mutual association; Monthly association fee; Association amenities include: clubhouse, pool, spa, gym/exercise room, tennis, pickleball, bocce, golf, billiard room, card room, meeting/banquet facilities, on-site property management, controlled access, guard, trash, sewer, water, maintenance of grounds, common RV parking, pet rules (pets permitted)

Exterior

• Parking: Carport (1 space)
• Security: Gated community with guard; Controlled access
• Utilities: Public sewer; Sewer connected; Water connected; District/public water
• Home design: Condominium; Attached unit; Single-story; One-level entry; Has a view; Multi-family structure
• Construction: Two or more common walls
• Exterior features: Association pool; Close to clubhouse

Interior

• Kitchen: Electric range and electric oven; Refrigerator; Garbage disposal; Water heater unit; Dining ell
• Bedrooms: One bedroom (main level)
• Flooring: Vinyl; Carpet
• Bathrooms: One full bathroom with bathtub and shower-in-tub, exhaust fan
• Heating & cooling: Radiant heating; Wall/window cooling
• Interior features: Balcony; Smoke detector; Gated community with guard; Association spa
• Laundry & utility: Community laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $299k.

Deal economics

• At list price, monthly cash flow is $-510 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $209k (30.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $279k (6.7% below list).
• Recommended offer: $209k (30.1% below list) — sets the bar for cash-flow.
• Cap rate 4.2% vs local median 2.4% in Laguna Woods — 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 72/100 on livability (#200 in CA) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+; Watch: amenities D+, cost of living F, health & safety F.
• Saddleback Valley Unified (suburban): math 51% / reading 73% proficiency, ranked #67 of 517 in CA (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: El Morro Elementary (416 students, 23% FRL); Thurston Middle (537 students, 21% FRL); Laguna Beach High (930 students, 20% FRL) — zoned schools at 21% FRL track the district average.
• Market conditions: Rents rising fast (+6.8%/yr); 190 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); 6,974 units permitted in Orange County in 2024 (3,839 in 5+ unit buildings).
• At $2,790/mo this rent would consume 56% of the median local household income ($59k/yr) (locally 1572% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $20k of equity ($2k loan paydown + $18k appreciation (5.9% local appreciation)).
• Orange County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $59k; list at $299k implies a 407% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 33% of rent.

Recommended offer $208,958 (30.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.93% ✗
• Cap rate: 4.25%
• Cash-on-cash: -7.31%
• DSCR: 0.67
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.88% appreciation · 6.79% rent growth · sell at horizon

5-year hold

• IRR: 11.0%
• Equity multiple: 1.76×
• Total profit: $63,291
• Equity at exit: $185,773

10-year hold

• IRR: 13.7%
• Equity multiple: 3.86×
• Total profit: $239,152
• Equity at exit: $335,015

Cash invested: $83,720 (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 92637

• Home prices YoY: 3.4%
• Rents YoY: 6.8%
• Active inventory: 190
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,790 high
• Mortgage (P&I): −$1,568
• Tax from tax record: −$91 /mo · $1,087/yr
• Insurance: −$125
• HOA: −$931
• Vacancy / Maint / Mgmt: −$586
• Net cashflow: $-510

Break-even live

Break-even rent $3,436

Max offer price $208,958

Occupancy floor —

Sensitivity live

Price	-10% $-340	-5% $-425	+0% $-510	+5% $-594	+10% $-679
Rent	-10% $-730	-5% $-620	+0% $-510	+5% $-399	+10% $-289
Rate	-1.0pp $-359	-0.5pp $-434	base $-510	+0.5pp $-587	+1.0pp $-666

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
24055 Paseo del Lago #1251 Laguna Woods, CA	1.0	1.0	564	$3,182	$5.64	8d	1	0.21mi
24055 Paseo del Lago #1251 Laguna Woods, CA	1.0	1.0	564	$2,950	$5.23	26d	1	0.21mi
24055 Paseo Del Lago Laguna Woods, CA	—	1.0	500	$3,100	$6.20	45d	1	0.26mi
123 Sandpiper Ln Aliso Viejo, CA	1.0	1.0	622	$2,650	$4.26	9d	1	0.72mi
350 Artisan Dr Laguna Beach, CA	1.0–2.0	1.0–2.0	894	$2,497	$2.79	0d	32	1.10mi
5000 Capobella Aliso Viejo, CA	1.0	1.0	711	$2,798	$3.93	1d	4	1.29mi
956 Calle Aragon Unit C Laguna Woods, CA	1.0	1.0	675	$2,700	$4.00	45d	1	1.48mi

HOA detail condo

• Monthly dues: $931 · $11,172/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-22
   price $299,000 Active 14 DOM
2. 2026-06-21
   days on market $306,000 Active 14 DOM
3. 2026-06-18
   days on market $306,000 Active 11 DOM
4. 2026-06-17
   days on market $306,000 Active 10 DOM
5. 2026-06-16
   days on market $306,000 Active 9 DOM
6. 2026-06-15
   days on market $306,000 Active 8 DOM
7. 2026-06-13
   days on market $306,000 Active 6 DOM
8. 2026-06-13
   days on market $306,000 Active 5 DOM
9. 2026-06-09
   days on market $306,000 Active 2 DOM
10. 2026-06-08
    remarks 699-char remark
11. 2026-06-08
    listed $306,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $1,087 · $91/mo
• Projected year-2 tax: $2,272 · $189/mo
• Expected delta: +$1,185/yr (+$99/mo · 109.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $33,485
• − Mortgage interest: −$16,749
• − Property taxes: −$1,087
• − Insurance: −$1,495
• − Repairs & maintenance: −$2,679
• − Management: −$2,679
• − HOA: −$11,172
• − Depreciation: −$8,698
• Taxable loss: −$11,073
• Est. tax savings @ 24.0%: +$2,658
• After-tax cash flow: $-3,459/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: Saddleback Valley Unified
• NCES district ID: 0633860
• Math proficiency: 51% ▼ -2.00%
• Reading proficiency: 73% ▲ 9.00%
• Median HH income: $85,577
• Composite: 56.05/100
• National rank: #1185
• State rank: #67 of 517 in CA

Livability — Laguna Woods

• Score: 72/100
• State rank: #200
• US rank: #6421

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Laguna Woods, CA
• County: Orange County · 3,096,323 people
• City population: 17,289
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 17,289
• Household income: $59,269
• Rent vs Own: 28.4% rent · 71.6% own
• Severe rent burden: 1572.0

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 White (68%)
• Race & ethnicity: White 68% Asian 24% Hispanic / Latino 5% Two or more races 3%
• Common ancestry: Romanian 4% Scotch-Irish 4% Lithuanian 3%
• Foreign-born: 31% · China, South Korea, Canada
• Languages at home: 72% English-only · Chinese 8% Korean 7% Other Indo-European 3%

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: ▲ 5.88%
• Current HPI: 180.1191
• Rent YoY: ▲ 6.79%
• 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

+370.8% since first listed

3 events — show timeline

• 2026-06-07 Listed $306,000 CRMLS
• 1991-12-03 Sold (Public Records) $59,000 Public Records
• 1990-12-04 Sold (Public Records) $65,000 Public Records

Property tax history

+1.3%/yr

Latest (2025): $1,087 · +1.8% YoY. Source: county tax records.