534 Concordia Ct · Pasadena, CA 91105

$300,000

2 bd · 1.0 ba · 878 sqft · SingleFamily public records · 14 Days on market

Built 1903 2,638 sqft lot

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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 +25.9/30.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• Appreciation +7.4/10.0
• 1% rule +5.7/10.0
• Schools +4.6/10.0
• Livability +3.6/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0

Listing remarks

Property has existing health & safety building code violations issued by the City of Pasadena, to be remediated by the buyer post-close. Buyers to conduct their own due diligence and independently verify all information with appropriate entities and satisfy self. Major fixer in Pasadena! Opportunity to reposition, redevelop, or restore in a central Pasadena location with commercial-overlay zoning potential - Ideal for investors, builders, flippers, or owner-users. Zoned PSC (Pasadena Specific Commercial) which provides flexibility beyond traditional SFR and may allow for mixed-use, live/work, or potential redevelopment (Buyer to verify). Located minutes from Old Town Pasadena, along F

Key facts

• 2,638 sq ft lot
• Parking
• Built 1903

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $740 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $300k).
• Cap rate 9.3% vs local median 1.5% in Pasadena — 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 D+, health & safety D+, crime F.
• Pasadena Unified (urban): math 42% / reading 60% proficiency, ranked #123 of 517 in CA (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.6%/yr); 60 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($2k loan paydown + $14k appreciation (4.8% local appreciation)).
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (4.8% appreciation + 1.6% rent growth), your $84k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k 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.

Risks & watch-outs

• Watch-outs: built in 1903 — 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 $300,000

Questions for the listing agent

1. Built in 1903 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.07% ✓
• Cap rate: 9.25%
• Cash-on-cash: 10.57%
• DSCR: 1.47
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $976,336
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
427 Waldo Ave	0.43mi	2/1.0	951 (+8%)	1mo	$1,057,650	$1,112	65
233 Ohio St	0.63mi	1/1.0 (-1)	840 (-4%)	1mo	$550,000	$655	58
221 Ohio St	0.63mi	1/1.0 (-1)	840 (-4%)	16mo	$815,000	$970	45
11 Grace Ter	0.71mi	2/1.0	972 (+11%)	23mo	$1,150,000	$1,183	29

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.79% appreciation · 1.64% rent growth · sell at horizon

5-year hold

• IRR: 20.8%
• Equity multiple: 2.29×
• Total profit: $108,266
• Equity at exit: $166,243

10-year hold

• IRR: 20.0%
• Equity multiple: 4.33×
• Total profit: $280,138
• Equity at exit: $283,849

Cash invested: $84,000 (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 91105

• Home prices YoY: 1.3%
• Rents YoY: 1.6%
• Active inventory: 60
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $3,201 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$91 /mo · $1,088/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$672
• Net cashflow: $740

Break-even live

Break-even rent $2,264

Max offer price $300,000

Occupancy floor 72%

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
295 W California Blvd Unit 12 Pasadena, CA	2.0	1.0	1100	$2,494	$2.27	20d	1	0.32mi
180 Fillmore St Unit F192 Pasadena, CA	2.0	1.0	800	$2,595	$3.24	6d	1	0.35mi
271 E Bellevue Dr Pasadena, CA	1.0–2.0	1.0–2.0	874	$4,050	$4.63	1d	6	0.38mi
400 S Marengo Ave Unit 4 Pasadena, CA	1.0	1.0	580	$1,900	$3.28	7d	1	0.39mi
226 Fillmore St Unit 240 Pasadena, CA	1.0	1.0	650	$2,095	$3.22	43d	1	0.40mi
305 E California Blvd Pasadena, CA	1.0–2.0	1.0	721	$2,595	$3.60	13d	2	0.41mi
300 E Bellevue Dr Pasadena, CA	1.0–3.0	1.0–2.0	889	$3,528	$3.97	2d	18	0.41mi
788 S Marengo Ave Unit 790 Pasadena, CA	1.0	1.0	600	$2,000	$3.33	12d	1	0.41mi
381 Waldo Ave Unit 3811 Pasadena, CA	2.0	2.0	1050	$2,795	$2.66	2d	1	0.43mi
265 S Arroyo Pkwy Pasadena, CA	2.0	1.0–2.0	1049	$3,746	$3.57	1d	20	0.43mi
231 S De Lacey Ave Pasadena, CA	2.0	1.0–2.0	857	$3,884	$4.53	1d	18	0.43mi
350 E California Blvd Pasadena, CA	1.0–2.0	2.0	1250	$3,650	$2.92	4d	2	0.43mi
275 S Marengo Ave Pasadena, CA	1.0	1.0	685	$2,400	$3.50	43d	1	0.44mi
280 E Del Mar Blvd Pasadena, CA	1.0–2.0	1.0–2.0	890	$3,247	$3.65	1d	13	0.44mi
238 S Arroyo Pkwy Pasadena, CA	2.0	2.0	1042	$3,650	$3.50	43d	1	0.45mi
165 S De Lacey Ave Pasadena, CA	3.0	1.0–2.0	1146	$4,263	$3.72	1d	10	0.51mi
904 S Marengo Ave Unit 904 Pasadena, CA	1.0	1.0	1000	$2,600	$2.60	43d	1	0.51mi
910 S Marengo Ave Apt 1 Pasadena, CA	1.0	1.0	525	$1,750	$3.33	16d	1	0.51mi
350 E Del Mar Blvd Pasadena, CA	2.0	1.0	795	$4,610	$5.80	2d	1	0.52mi
249 Alpine St #48 Pasadena, CA	1.0	1.0	742	$3,000	$4.04	13d	1	0.53mi
65 W Dayton St Pasadena, CA	1.0–2.0	1.0–2.0	796	$3,795	$4.76	3d	2	0.55mi
975 S Marengo Ave Unit 995 Pasadena, CA	1.0	1.0	800	$2,195	$2.74	2d	1	0.56mi
355 S Los Robles Ave #144 Pasadena, CA	1.0	1.0	675	$2,345	$3.47	43d	1	0.56mi
275 Cordova St Pasadena, CA	1.0	1.0	700	$2,085	$2.98	43d	1	0.57mi
77 W Glenarm St Pasadena, CA	1.0	1.0	550	$3,500	$6.36	43d	1	0.57mi
22 W Green St Pasadena, CA	2.0	2.0	901	$3,550	$3.94	10d	1	0.57mi
520 S Los Robles Ave Unit 4 Pasadena, CA	1.0	1.0	700	$3,795	$5.42	24d	1	0.58mi
500 S Los Robles Ave Pasadena, CA	2.0	2.0	1048	$3,390	$3.23	6d	1	0.59mi
263 Ohio St Unit 2 Pasadena, CA	1.0	1.0	650	$2,150	$3.31	43d	1	0.60mi
293 Ohio St #2 Pasadena, CA	2.0	3.0	1104	$3,700	$3.35	43d	1	0.62mi
325 Cordova St Pasadena, CA	1.0–2.0	1.0–2.0	827	$3,496	$4.22	2d	3	0.63mi
399 E Del Mar Blvd #103 Pasadena, CA	1.0	1.0	834	$4,500	$5.40	19d	1	0.63mi
360 S Los Robles Ave #6 Pasadena, CA	2.0	2.0	1062	$3,300	$3.11	24d	1	0.63mi
178 S Euclid Ave #211 Pasadena, CA	2.0	2.0	1011	$4,500	$4.45	5d	1	0.67mi
388 Cordova St #305 Pasadena, CA	1.0	2.0	1008	$4,200	$4.17	43d	1	0.68mi
495 S Madison Ave Pasadena, CA	1.0	1.0	600	$2,095	$3.49	43d	2	0.69mi
14 N Fair Oaks Ave Ste 300 Pasadena, CA	1.0	1.0	662	$2,400	$3.63	43d	1	0.69mi
501 E Del Mar Blvd #113 Pasadena, CA	2.0	2.0	1081	$3,400	$3.15	13d	1	0.70mi
529 S Madison Ave Pasadena, CA	1.0	1.0	750	$2,000	$2.67	17d	1	0.71mi
255 S Oakland Ave Pasadena, CA	1.0	1.0	750	$2,195	$2.93	43d	1	0.73mi

Listing history 2 events

1. 2026-04-21
   status Pending
2. 2026-03-25
   listed $300,000 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: $1,088 · $91/mo
• Projected year-2 tax: $2,280 · $190/mo
• Expected delta: +$1,192/yr (+$99/mo · 109.6%)

ⓘ 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 1/10 Low
• 🌡 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: $38,407
• − Mortgage interest: −$16,805
• − Property taxes: −$1,088
• − Insurance: −$1,500
• − Repairs & maintenance: −$3,073
• − Management: −$3,073
• − Depreciation: −$8,727
• Taxable income: $4,142
• Est. tax owed @ 24.0%: −$994
• After-tax cash flow: $7,881/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: Pasadena Unified
• NCES district ID: 0629940
• Math proficiency: 42% ▲ 7.00%
• Reading proficiency: 60% ▲ 15.00%
• Median HH income: $73,762
• Composite: 45.82/100
• National rank: #2557
• State rank: #123 of 517 in CA

Livability — Pasadena

• Score: 72/100
• State rank: #181
• US rank: #5981

Category grades

Amenities A+ Commute A+ 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: Pasadena, CA
• County: Los Angeles County · 9,444,647 people
• City population: 151,001
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 12,531
• Household income: $156,791
• Rent vs Own: 44.3% rent · 55.7% own
• Severe rent burden: 400.0

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 0.64)
• Race & ethnicity: White 55% Asian 19% Hispanic / Latino 16% Two or more races 13% Black 3%
• Hispanic origin (detail): Mexican 8% Cuban 2%
• Common ancestry: Lithuanian 3% Italian 2% Iranian 2%
• Foreign-born: 22% · China, Canada, Vietnam
• Languages at home: 71% English-only · Spanish 10% Chinese 10% Other Indo-European 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: ▲ 4.79%
• Current HPI: 386.1241
• Rent YoY: ▲ 1.64%
• 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

2 events — show timeline

• 2026-04-21 Pending — TheMLS
• 2026-03-25 Listed $300,000 TheMLS

Property tax history

+5.2%/yr

Latest (2025): $1,088 · +14.0% YoY. Source: county tax records.