1045 N Azusa #145 · Covina, CA 91722

$75,000

2 bd · 1.0 ba · 648 sqft · Manufactured public records · 151 Days on market

Built 1970 Fair condition $116/sqft · 17% above area Est $64k · 17% over

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +5.0/5.0
• Schools +4.4/10.0
• Livability +3.6/5.0
• Condition / age +2.2/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

All age mobile home community in the North part of Covina. Single wide, 2 bedrooms, 1 bath. Comfortable living with privacy, bright and open layout. Easy commuter between the 10 and 210 freeways. Conveniently located near shopping center and schools. Two storage sheds for all your storage needs. Back and side yard gives you privacy and room to relax and enjoy your time outside while at home. Community amenities includes gym, pool, spa, clubhouse with kitchenette, table and chairs, car wash and laundry room.

Key facts

• Community amenities
• Gym
• Pool

Tags

• BRIGHT AND OPEN LAYOUT
• STORAGE SHEDS
• BACK AND SIDE YARD
• COMMUNITY AMENITIES
• GYM
• POOL

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $75k. Condition is rated fair.

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 ($2k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 27.3% vs local median 2.3% in Covina — 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 (#181 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: schools C-, crime C-, health & safety C-.
• Covina-Valley Unified (suburban): math 39% / reading 55% proficiency, ranked #462 of 1,400 in CA (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+12.9%/yr); 69 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 151 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 6y ago; this cycle's ask has dropped $10k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 151 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 2.96% ✓
• Cap rate: 27.30%
• Cash-on-cash: 75.02%
• DSCR: 4.34
• GRM: 2.8

CMA / ARV

• ARV (median comp): $64,006
• List price: $75,000
• Delta: 17.18%
• Verdict: OVERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 80.3%
• Equity multiple: 4.96×
• Total profit: $83,186
• Equity at exit: $11,183

10-year hold

• IRR: 84.9%
• Equity multiple: 12.12×
• Total profit: $233,456
• Equity at exit: $6,485

Cash invested: $21,000 (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 91722

• Rents YoY: 12.9%
• Active inventory: 69
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $2,220 high
• Mortgage (P&I): −$393
• Tax from tax record: −$16 /mo · $197/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$466
• Net cashflow: $1,313

Break-even live

Break-even rent $558

Max offer price $75,000

Occupancy floor 36%

Sensitivity live

Price	-10% $1,355	-5% $1,334	+0% $1,313	+5% $1,292	+10% $1,270
Rent	-10% $1,138	-5% $1,225	+0% $1,313	+5% $1,401	+10% $1,488
Rate	-1.0pp $1,351	-0.5pp $1,332	base $1,313	+0.5pp $1,293	+1.0pp $1,274

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1160 N Conwell Ave Covina, CA	1.0–3.0	1.0–2.0	1048	$2,387	$2.28	0d	12	0.37mi
273 W Arrow Hwy Azusa, CA	2.0	1.0–2.0	725	$2,495	$3.44	6d	4	0.63mi
1130 W San Bernardino Rd Covina, CA	1.0	1.0	600	$1,695	$2.83	4d	2	0.69mi
1130 W San Bernardino Rd Covina, CA	1.0	1.0	600	$1,695	$2.83	45d	6	0.69mi
1375 W San Bernardino Rd Covina, CA	1.0	1.0	750	$1,750	$2.33	20d	1	0.79mi
1375 W San Bernardino Rd Covina, CA	1.0	1.0	750	$1,695	$2.26	0d	1	0.79mi
1151 W Arrow Hwy Azusa, CA	1.0–2.0	1.0–2.0	862	$2,195	$2.54	44d	1	1.07mi
850 S Vincent Ave Azusa, CA	2.0	2.0	750	$2,145	$2.86	44d	1	1.09mi
136 W Orange St Covina, CA	1.0	1.0	650	$2,200	$3.38	25d	1	1.24mi
777 S Citrus Ave Azusa, CA	1.0	1.0	709	$2,200	$3.10	13d	1	1.32mi
139 S 3rd Ave Covina, CA	1.0	1.0	450	$2,300	$5.11	0d	1	1.32mi
211 W Dexter St Unit NA Covina, CA	1.0	1.0	490	$1,700	$3.47	44d	1	1.38mi
211 W Dexter St Covina, CA	1.0	1.0	500	$1,675	$3.35	0d	1	1.38mi
18537 E Arrow Hwy Covina, CA	1.0–2.0	1.0–2.5	937	$2,650	$2.83	5d	7	1.39mi
18615 E Arrow Hwy Covina, CA	1.0	1.0	619	$1,976	$3.19	11d	2	1.45mi

Listing history 41 events

1. 2026-06-21
   days on market $75,000 Active 151 DOM
2. 2026-06-18
   days on market $75,000 Active 148 DOM
3. 2026-06-17
   days on market $75,000 Active 147 DOM
4. 2026-06-16
   days on market $75,000 Active 146 DOM
5. 2026-06-15
   days on market $75,000 Active 145 DOM
6. 2026-06-13
   days on market $75,000 Active 143 DOM
7. 2026-06-13
   days on market $75,000 Active 142 DOM
8. 2026-06-09
   days on market $75,000 Active 139 DOM
9. 2026-06-08
   days on market $75,000 Active 138 DOM
10. 2026-06-07
    days on market $75,000 Active 137 DOM
11. 2026-06-04
    days on market $75,000 Active 134 DOM
12. 2026-06-03
    days on market $75,000 Active 133 DOM
13. 2026-06-02
    days on market $75,000 Active 132 DOM
14. 2026-06-01
    days on market $75,000 Active 131 DOM
15. 2026-05-31
    days on market $75,000 Active 130 DOM
16. 2026-04-26
    price $75,000 512-char remark

    Show marketing remark (512 chars)

    All age mobile home community in the North part of Covina. Single wide, 2 bedrooms, 1 bath. Comfortable living with privacy, bright and open layout. Easy commuter between the 10 and 210 freeways. Conveniently located near shopping center and schools. Two storage sheds for all your storage needs. Back and side yard gives you privacy and room to relax and enjoy your time outside while at home. Community amenities includes gym, pool, spa, clubhouse with kitchenette, table and chairs, car wash and laundry room.

17. 2026-01-21
    listed $85,000 Active 512-char remark

    Show marketing remark (512 chars)

    All age mobile home community in the North part of Covina. Single wide, 2 bedrooms, 1 bath. Comfortable living with privacy, bright and open layout. Easy commuter between the 10 and 210 freeways. Conveniently located near shopping center and schools. Two storage sheds for all your storage needs. Back and side yard gives you privacy and room to relax and enjoy your time outside while at home. Community amenities includes gym, pool, spa, clubhouse with kitchenette, table and chairs, car wash and laundry room.

18. 2022-09-30
    soldstatus $72,000 Closed Sale 1306-char remark

    Show marketing remark (1306 chars)

    Beautifully maintained home with lovely well-planned layout. It makes you feel comfortable and welcomed. The open space features the kitchen, dining area, and living area. The two bedrooms are on each end of the home: One on the west end and one on the East end of the home. The well-designed kitchen is small however very functional is on the east side. The living and dining areas are in the center of the home and the sliding glass door allows natural lighting in. This door leads out into an area where you can bbq or set up a seating area with an umbrella and enjoy after a hard day's work. The mobile home park has a car wash and a library. Starlite Estates Mobile Home Park a cozy community of 250 homes situated in the north part of Covina. It is behind Vintage Walk, an antique shop and El Tepeyac is next to Vintage Walk. Costco's OutLet store is on Azusa and Arrow Hwy and there is a bus stop on Azusa and Covina Bl. It is between the 210 and 10 freeways and close to eateries and shopping. It is calling you to come to see it and call home for the summer. Summary-Park Features & Benefits 250 Units Between 210 & 10 Fwys Clubhouse Laundry Room Gym Swimming Pool Car Wash Playground Near Shopping Movie Theaters Sold with the home Range Microwave Refrigerator Window Air Conditioners

19. 2022-08-25
    status Active
20. 2022-08-25
    historical
21. 2022-08-08
    status Pending Sale 1306-char remark

    Show marketing remark (1306 chars)

    Beautifully maintained home with lovely well-planned layout. It makes you feel comfortable and welcomed. The open space features the kitchen, dining area, and living area. The two bedrooms are on each end of the home: One on the west end and one on the East end of the home. The well-designed kitchen is small however very functional is on the east side. The living and dining areas are in the center of the home and the sliding glass door allows natural lighting in. This door leads out into an area where you can bbq or set up a seating area with an umbrella and enjoy after a hard day's work. The mobile home park has a car wash and a library. Starlite Estates Mobile Home Park a cozy community of 250 homes situated in the north part of Covina. It is behind Vintage Walk, an antique shop and El Tepeyac is next to Vintage Walk. Costco's OutLet store is on Azusa and Arrow Hwy and there is a bus stop on Azusa and Covina Bl. It is between the 210 and 10 freeways and close to eateries and shopping. It is calling you to come to see it and call home for the summer. Summary-Park Features & Benefits 250 Units Between 210 & 10 Fwys Clubhouse Laundry Room Gym Swimming Pool Car Wash Playground Near Shopping Movie Theaters Sold with the home Range Microwave Refrigerator Window Air Conditioners

22. 2022-08-06
    status Active 1306-char remark

    Show marketing remark (1306 chars)

    Beautifully maintained home with lovely well-planned layout. It makes you feel comfortable and welcomed. The open space features the kitchen, dining area, and living area. The two bedrooms are on each end of the home: One on the west end and one on the East end of the home. The well-designed kitchen is small however very functional is on the east side. The living and dining areas are in the center of the home and the sliding glass door allows natural lighting in. This door leads out into an area where you can bbq or set up a seating area with an umbrella and enjoy after a hard day's work. The mobile home park has a car wash and a library. Starlite Estates Mobile Home Park a cozy community of 250 homes situated in the north part of Covina. It is behind Vintage Walk, an antique shop and El Tepeyac is next to Vintage Walk. Costco's OutLet store is on Azusa and Arrow Hwy and there is a bus stop on Azusa and Covina Bl. It is between the 210 and 10 freeways and close to eateries and shopping. It is calling you to come to see it and call home for the summer. Summary-Park Features & Benefits 250 Units Between 210 & 10 Fwys Clubhouse Laundry Room Gym Swimming Pool Car Wash Playground Near Shopping Movie Theaters Sold with the home Range Microwave Refrigerator Window Air Conditioners

23. 2022-07-25
    listed $75,000 Active 1306-char remark

    Show marketing remark (1306 chars)

    Beautifully maintained home with lovely well-planned layout. It makes you feel comfortable and welcomed. The open space features the kitchen, dining area, and living area. The two bedrooms are on each end of the home: One on the west end and one on the East end of the home. The well-designed kitchen is small however very functional is on the east side. The living and dining areas are in the center of the home and the sliding glass door allows natural lighting in. This door leads out into an area where you can bbq or set up a seating area with an umbrella and enjoy after a hard day's work. The mobile home park has a car wash and a library. Starlite Estates Mobile Home Park a cozy community of 250 homes situated in the north part of Covina. It is behind Vintage Walk, an antique shop and El Tepeyac is next to Vintage Walk. Costco's OutLet store is on Azusa and Arrow Hwy and there is a bus stop on Azusa and Covina Bl. It is between the 210 and 10 freeways and close to eateries and shopping. It is calling you to come to see it and call home for the summer. Summary-Park Features & Benefits 250 Units Between 210 & 10 Fwys Clubhouse Laundry Room Gym Swimming Pool Car Wash Playground Near Shopping Movie Theaters Sold with the home Range Microwave Refrigerator Window Air Conditioners

24. 2022-04-28
    status Pending Sale
25. 2022-04-15
    price $65,000
26. 2022-04-15
    status Active
27. 2022-03-14
    status Pending Sale
28. 2022-01-20
    historical Active Under Contract
29. 2021-12-28
    listed $55,000 Active
30. 2021-12-28
    historical
31. 2021-08-18
    historical
32. 2021-07-13
    status Active
33. 2021-06-23
    status Pending Sale
34. 2021-06-03
    listed $50,000 Active
35. 2021-05-31
    historical
36. 2021-04-16
    listed $50,000 Active
37. 2021-03-23
    status Active
38. 2021-03-19
    status Pending Sale
39. 2021-03-05
    historical
40. 2021-02-02
    historical Active Under Contract
41. 2020-11-06
    listed $49,888 Active

ⓘ 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: $197 · $16/mo
• Projected year-2 tax: $570 · $48/mo
• Expected delta: +$373/yr (+$31/mo · 188.8%)

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

Taxation est. · year 1

• Rental income: $26,642
• − Mortgage interest: −$4,201
• − Property taxes: −$197
• − Insurance: −$375
• − Repairs & maintenance: −$2,131
• − Management: −$2,131
• − Depreciation: −$2,182
• Taxable income: $15,424
• Est. tax owed @ 24.0%: −$3,702
• After-tax cash flow: $12,053/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

Fair 45/100 Moderate rehab

This mobile home requires moderate repairs and maintenance, with potential for significant value increase through painting and window upgrades.

Repairs flagged

• Minor Paint — Some wear on interior walls
• Moderate Windows — Single-pane windows may not be energy-efficient

Value-add opportunities

• Both Paint interior walls — Enhances curb appeal and interior aesthetics
• Both Replace windows — Improves energy efficiency and curb appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint · Some wear on interior walls	Minor	$500–3,000
Windows · Single-pane windows may not be energy-efficient	Moderate	$3,000–15,000
Total estimated repair cost · 2 items		$3,500–18,000

Value-add ROI direction

• Both Paint interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Replace windows — Improves energy efficiency and curb appeal ↑

ⓘ 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: Covina-Valley Unified
• NCES district ID: 0610050
• Math proficiency: 39% ▲ 2.00%
• Reading proficiency: 55% ▲ 2.00%
• Median HH income: $65,808
• Composite: 43.91/100
• National rank: #6290
• State rank: #462 of 1400 in CA

Livability — Covina

• Score: 72/100
• State rank: #181
• US rank: #5811

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Covina, CA
• County: Los Angeles County · 9,444,647 people
• City population: 81,184
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 35,099
• Household income: $102,062
• Rent vs Own: 29.5% rent · 70.5% own
• Severe rent burden: 553.0

Population outlook (Los Angeles County) Hauer SSP2

• Today (2025): 10,940,515 people
• By 2030: 11,256,481 · +2.9%
• By 2040: 11,729,929 · +7.2%
• By 2050: 11,948,407 · +9.2%
• By 2075: 11,818,114 · +8.0%
• By 2100: 10,842,928 · -0.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (64%)
• Race & ethnicity: Hispanic / Latino 64% Two or more races 23% Asian 15% White 14% Black 3%
• Hispanic origin (detail): Mexican 54%
• Common ancestry: Slovak 1% Iranian 1% Lithuanian 1%
• Foreign-born: 31% · Canada, China, Vietnam
• Languages at home: 45% English-only · Spanish 42% Chinese 6% Tagalog/Filipino 3%

Political lean MEDSL · Los Angeles

• 2024 margin: Solid D (+32.9) · D 64.8% · R 31.9% · Other 3.3%
• 2008→2024 swing: -7.4pp toward R · 2008: 40.4pp · 2024: 32.9pp
• All cycles: 2024: D+32.9 2020: D+44.2 2016: D+48.0 2012: D+40.0 2008: D+40.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -889.26%
• Current HPI: 403.5337
• Rent YoY: ▲ 12.93%
• 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

+50.3% since first listed

26 events — show timeline

• 2026-04-26 Price Changed $75,000 CRMLS
• 2026-01-21 Listed $85,000 CRMLS
• 2022-09-30 Sold (MLS) $72,000 CRMLS
• 2022-08-25 Relisted — CRMLS
• 2022-08-25 Listing Removed — CRMLS
• 2022-08-08 Pending — CRMLS
• 2022-08-06 Relisted — CRMLS
• 2022-07-25 Listed $75,000 CRMLS
• 2022-04-28 Pending — CRMLS
• 2022-04-15 Price Changed $65,000 CRMLS
• 2022-04-15 Relisted — CRMLS
• 2022-03-14 Pending — CRMLS
• 2022-01-20 Contingent — CRMLS
• 2021-12-28 Listed $55,000 CRMLS
• 2021-12-28 Coming Soon — CRMLS
• 2021-08-18 Listing Removed — CRMLS
• 2021-07-13 Relisted — CRMLS
• 2021-06-23 Pending — CRMLS
• 2021-06-03 Listed $50,000 CRMLS
• 2021-05-31 Listing Removed — CRMLS
• 2021-04-16 Listed $50,000 CRMLS
• 2021-03-23 Relisted — CRMLS
• 2021-03-19 Pending — CRMLS
• 2021-03-05 Listing Removed — CRMLS
• 2021-02-02 Contingent — CRMLS
• 2020-11-06 Listed $49,888 CRMLS

Property tax history

+7.1%/yr

Latest (2025): $197 · +7.1% YoY. Source: county tax records.