1231 Romulus Dr · Glendale, CA 91205

$1,300,000

3 bd · 3.0 ba · 1,602 sqft · MultiFamily public records · 5 Days on market

Built 1949 6,778 sqft lot Est $969k · 34% over

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Why this score? — see what drove the F 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 +9.7/30.0
• Schools +5.1/10.0
• Livability +3.6/5.0
• DSCR +2.8/10.0
• Condition / age +2.5/5.0
• 1% rule +1.7/10.0
• Rent growth +1.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 5 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

First time on the market in 46 years! Five-unit investment opportunity in the highly sought-after Adams Hill neighborhood of Glendale. Situated on a well-positioned lot, this unique property consists of two separate buildings. The front building features two spacious 1-bedroom, 1-bath residences, each approximately 740 sqft, while the rear building offers three charming 1-bedroom, 1-bath units, each approximately 500 sqft. Adding to the property's appeal, one of the larger front units features a private front deck, while two of the rear units enjoy balconies accessed through French doors, creating an inviting indoor-outdoor living experience. All five units have been upgraded with new windo

Key facts

• Private front deck
• Resurfaced driveway
• New windows

Tags

• ADAMS HILL NEIGHBORHOOD
• TWO SEPARATE BUILDINGS
• PRIVATE FRONT DECK
• NEW WINDOWS
• DETACHED ENCLOSED GARAGES
• RESURFACED DRIVEWAY

Property features AI

Finance

• Other: Property zoned GLR3YY; Two buildings on site
• Financial info: Actual annual gross rental income approximately $68,335; Projected rents listed for units (examples: $1,700–$2,000 projected for some units); Individual current rents: $1,270; $1,295; $1,025; $1,045; $1,045
• HOA & community: Five units in the complex

Exterior

• Parking: Carport; 2-car garage; Covered parking; Assigned parking; Total of 9 parking spaces
• Home design: Residential income property; Two-level building
• Exterior features: No additional structures

Interior

• Kitchen: Dishwasher; Range/Oven; Refrigerator
• Bedrooms: Five 1-bedroom units
• Bathrooms: Five 1-bath units
• Heating & cooling: Wall heat; Wall unit cooling
• Interior features: Wall heat; Wall unit cooling; Dishwasher; Range/Oven; Refrigerator

What this means for you Summary

Snapshot

• This is a 5 × 1-bed/1.0-bath units multifamily listed at $1.30M.

Deal economics

• At list price, monthly cash flow is $-845 ($-10k/yr) — negative. Per door: $-169/mo.
• To cash-flow at today's rent, offer at most $1.15M (11.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $867k (33.3% below list).
• Recommended offer: $867k (33.3% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 1.9% in Glendale — 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 (#201 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, schools B+; Watch: health & safety C-, cost of living F.
• Glendale Unified (urban): math 53% / reading 66% proficiency, ranked #81 of 517 in CA (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents falling (-3.8%/yr); 37 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $8,669/mo this rent would consume 161% of the median local household income ($65k/yr) (locally 4134% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $9k of loan paydown is wiped out by about $39k 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.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $124k; list at $1.30M implies a 953% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $866,900 (33.3% 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. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-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?
7. 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?
8. 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.
9. 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.
10. 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: 0.67% ✗
• Cap rate: 5.51%
• Cash-on-cash: -2.79%
• DSCR: 0.88
• GRM: 12.5

CMA / ARV

• ARV (on-the-fly): $969,210
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1414 S Adams	0.44mi	4/1.5 (+1)	1,521 (-5%)	2mo	$920,000	$605	59

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -23.9%
• Equity multiple: 0.20×
• Total profit: $-290,564
• Equity at exit: $193,834

10-year hold

• IRR: -28.1%
• Equity multiple: -0.16×
• Total profit: $-423,219
• Equity at exit: $112,400

Cash invested: $364,000 (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 91205

• Rents YoY: -3.8%
• Active inventory: 37
• Price-to-rent: 62.5×

Monthly cashflow live

• Estimated rent: $8,669 high
• Mortgage (P&I): −$6,817
• Tax from tax record: −$335 /mo · $4,018/yr
• Insurance: −$542
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,820
• Net cashflow: $-845

Break-even live

Break-even rent $9,739

Max offer price $1,150,665

Occupancy floor —

Sensitivity live

Price	-10% $-109	-5% $-477	+0% $-845	+5% $-1,213	+10% $-1,581
Rent	-10% $-1,530	-5% $-1,188	+0% $-845	+5% $-503	+10% $-161
Rate	-1.0pp $-191	-0.5pp $-515	base $-845	+0.5pp $-1,182	+1.0pp $-1,525

5-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 5× units	1	1	$8,670
Total (5 units)			$8,669

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: $325,000
• Closing costs: $39,000
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1344 E Windsor Rd Unit A Glendale, CA	3.0	2.0	2000	$4,500	$2.25	44d	1	0.22mi
4435 Caledonia Way Los Angeles, CA	2.0	1.0	1136	$4,500	$3.96	44d	1	0.30mi
525 Fischer St Unit 1 Glendale, CA	3.0	2.0	1100	$3,500	$3.18	44d	1	0.34mi
523 Fischer St Glendale, CA	2.0	3.0	1650	$6,000	$3.64	44d	1	0.35mi
904 E Windsor Rd #103 Glendale, CA	3.0	2.5	1750	$4,200	$2.40	44d	1	0.36mi
1416 E Windsor Rd Glendale, CA	2.0	2.0	1100	$2,995	$2.72	25d	1	0.36mi
1130 E Colorado St Glendale, CA	2.0	2.5	1296	$3,545	$2.73	44d	2	0.52mi
1523 E Windsor Rd Unit 105B Glendale, CA	2.0	1.5	1079	$2,950	$2.73	13d	1	0.53mi
835 E Lomita Ave Unit 104 Glendale, CA	2.0	1.0	1100	$2,750	$2.50	3d	1	0.54mi
835 E Lomita Ave Unit 208 Glendale, CA	2.0	1.0	1100	$2,650	$2.41	3d	1	0.54mi
1232 Orange Grove Ave #104 Glendale, CA	2.0	2.0	1052	$2,695	$2.56	44d	1	0.57mi
1234 Orange Grove Ave Apt 104 Glendale, CA	2.0	2.0	1052	$2,695	$2.56	3d	1	0.57mi
516 E Palmer Ave Glendale, CA	2.0	1.0	1175	$2,700	$2.30	44d	1	0.67mi
3757 York Blvd Los Angeles, CA	2.0	2.0	1106	$4,400	$3.98	8d	1	0.67mi
1010 Mariposa St Glendale, CA	4.0	2.0	1350	$4,250	$3.15	4d	1	0.71mi
1294 Boynton St Glendale, CA	3.0	1.0	1200	$4,500	$3.75	44d	1	0.73mi
706 E Harvard St Unit 5 Glendale, CA	2.0	1.0	1250	$2,800	$2.24	5d	1	0.80mi
5227 Eagle Dale Ave #2 Los Angeles, CA	3.0	2.5	1400	$4,195	$3.00	8d	1	0.81mi
627 Orange Grove Ave #1 Glendale, CA	3.0	2.5	1250	$3,695	$2.96	25d	1	0.81mi
122 Olive St Unit 5 Glendale, CA	2.0	2.0	1200	$2,500	$2.08	18d	1	0.84mi
4139 W Avenue 42 Los Angeles, CA	3.0	2.0	1064	$4,500	$4.23	44d	1	0.85mi
216 E Windsor Rd Unit 3 Glendale, CA	2.0	1.0	1200	$3,150	$2.62	44d	1	0.86mi
216 E Windsor Rd Unit 2 Glendale, CA	2.0	2.0	1200	$3,150	$2.62	25d	1	0.86mi
1530 E Broadway Unit 104 Glendale, CA	3.0	2.0	1200	$3,495	$2.91	44d	1	0.87mi
110 N Everett St #109 Glendale, CA	2.0	2.0	1250	$3,200	$2.56	44d	1	0.92mi
1229 E Wilson Ave #204 Glendale, CA	2.0	2.0	1578	$4,000	$2.53	44d	1	0.92mi
3 E Windsor Rd #3 Glendale, CA	2.0	1.0	1250	$3,000	$2.40	13d	1	0.95mi
1 E Windsor Rd #1 Glendale, CA	2.0	1.0	1250	$3,000	$2.40	13d	1	0.95mi
1128 Stanley Ave Unit D Glendale, CA	3.0	3.0	1646	$4,550	$2.76	44d	1	0.96mi
409 E Harvard St Glendale, CA	3.0	1.0	1276	$3,550	$2.78	3d	1	1.00mi
110 W Maple St #30 Glendale, CA	2.0	3.0	1240	$3,600	$2.90	25d	1	1.03mi
108 W Maple St #27 Glendale, CA	2.0	3.0	1170	$3,350	$2.86	18d	1	1.03mi
1435 Stanley Ave Glendale, CA	1.0–4.0	1.0–2.5	976	$3,384	$3.47	2d	19	1.03mi
118 S Kenwood St #102 Glendale, CA	2.0	2.0	1130	$4,000	$3.54	25d	1	1.04mi
416 E Broadway Glendale, CA	1.0–2.0	1.0–2.0	1013	$4,115	$4.06	11d	5	1.05mi
4307 York Blvd Los Angeles, CA	2.0	2.0	1443	$6,000	$4.16	8d	1	1.07mi
320 McHenry Rd Glendale, CA	2.0	3.0	1593	$3,610	$2.27	3d	1	1.07mi
320 McHenry Rd Glendale, CA	2.0	3.0	1593	$3,604	$2.26	4d	2	1.07mi
2455 Colorado Blvd Los Angeles, CA	2.0	1.0–2.0	790	$3,800	$4.81	0d	2	1.11mi
3945 Eagle Rock Blvd Los Angeles, CA	3.0	3.5	1550	$5,000	$3.23	44d	1	1.12mi

Listing history 6 events

1. 2026-06-18
   days on market $1,300,000 Active 5 DOM
2. 2026-06-17
   days on market $1,300,000 Active 4 DOM
3. 2026-06-16
   days on market $1,300,000 Active 3 DOM
4. 2026-06-15
   days on market $1,300,000 Active 2 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   listed $1,300,000 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: $4,018 · $335/mo
• Projected year-2 tax: $9,880 · $823/mo
• Expected delta: +$5,862/yr (+$488/mo · 145.9%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥97°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 11 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $104,028
• − Mortgage interest: −$72,820
• − Property taxes: −$4,018
• − Insurance: −$6,500
• − Repairs & maintenance: −$8,322
• − Management: −$8,322
• − Depreciation: −$37,818
• Taxable loss: −$33,773
• Est. tax savings @ 24.0%: +$8,106
• After-tax cash flow: $-2,039/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: Glendale Unified
• NCES district ID: 0615240
• Math proficiency: 53% ▼ -1.00%
• Reading proficiency: 66% ▲ 2.00%
• Median HH income: $58,064
• Composite: 51.38/100
• National rank: #1733
• State rank: #81 of 517 in CA

Livability — Glendale

• Score: 72/100
• State rank: #201
• US rank: #6508

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Glendale, CA
• County: Los Angeles County · 9,444,647 people
• City population: 172,545
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 34,254
• Household income: $64,564
• Rent vs Own: 82.3% rent · 17.7% own
• Severe rent burden: 4134.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 58% Hispanic / Latino 25% Asian 12% Two or more races 6% Black 2%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Romanian 1% Slovak 1% Scotch-Irish 1%
• Foreign-born: 59% · Canada, South Korea, China
• Languages at home: 24% English-only · Other Indo-European 41% Spanish 20% Tagalog/Filipino 6%

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: ▼ -605.30%
• Current HPI: 468.648
• Rent YoY: ▼ -3.82%
• 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

+952.6% since first listed

2 events — show timeline

• 2026-06-05 Listed $1,300,000 TheMLS
• 1980-10-29 Sold (Public Records) $123,500 Public Records

Property tax history

+1.5%/yr

Latest (2025): $4,018 · -5.9% YoY. Source: county tax records.