1045 N Azusa #79 · Covina, CA 91722

$138,000

2 bd · 2.0 ba · 960 sqft · Manufactured public records · 3 Days on market

Built 1980

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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
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Schools +4.4/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * * Back in the market due to no fault of sellers * * * Beautiful and well kept mobile home in nice area of Covina. Spacious home with two bedrooms and two baths. Laundry inside unit. Walk to community gym/pool/spa. Enjoy views of the mountains from the living room or porch. Home is located near shops and restaurants. Convenient to public transportation.

Key facts

• Remodeled kitchen
• Refinished roof
• Pool

Tags

• REFINISHED ROOF
• UPGRADED METAL STAIRS
• UPDATED EXTERIOR LIGHTING
• REMODELED KITCHEN
• STAINLESS STEEL APPLIANCES
• FRESHLY PAINTED CABINETRY

Property features AI

Finance

• Other: Suburban community setting
• Financial info: Monthly land lease amount applies
• HOA & community: Land lease in place

Exterior

• Parking: Located in Starlite Mobile Estate
• Utilities: Public sewer; Public/district water; Sewer and water connected
• Home design: Single-story home; Entry on level 1; Mobile home on site (mobile home remains)
• Construction: Year built per assessor; Mobile dimensions approximately 50' x 20'
• Exterior features: Front porch; Private pool; Lot is level/flat; Property faces east

Interior

• Kitchen: Remodeled kitchen with island; Garbage disposal, Microwave, Refrigerator, Gas range, Dishwasher
• Bedrooms: Main floor primary bedroom; All bedrooms on the main floor
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms; Upgraded, remodeled bathrooms with walk-in shower
• Heating & cooling: Energy Star heating; Wall/window cooling
• Interior features: Recessed lighting; Turnkey condition
• Laundry & utility: Inside laundry room; Washer and dryer included; Washer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $138k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $138k).
• Cap rate 16.6% 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; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 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 $954 of loan paydown is wiped out by about $4k 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 $39k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 24y ago; this cycle's ask is 75% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $79k; list at $138k implies a 75% gain — meaningful room to come down on a strong offer.

Recommended offer $138,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.83% ✓
• Cap rate: 16.57%
• Cash-on-cash: 36.69%
• DSCR: 2.63
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $89,280
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1045 N Azusa #251	0.00mi	2/2.0	864 (-10%)	0mo	$80,000	$93	83
1045 N Azusa Ave #215	0.00mi	2/2.0	1,040 (+8%)	5mo	$64,000	$62	82
1045 N Azusa Ave #79	0.00mi	2/2.0	960 (0%)	23mo	$79,000	$82	81
1045 N Azusa Ave #175	0.00mi	3/2.0 (+1)	1,040 (+8%)	22mo	$110,000	$106	62
1045 N Azusa Ave #26	0.00mi	3/2.0 (+1)	1,100 (+15%)	20mo	$135,000	$123	54

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 37.7%
• Equity multiple: 2.71×
• Total profit: $66,190
• Equity at exit: $20,576

10-year hold

• IRR: 46.6%
• Equity multiple: 6.57×
• Total profit: $215,101
• Equity at exit: $11,932

Cash invested: $38,640 (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: 4.6×

Monthly cashflow live

• Estimated rent: $2,526 high
• Mortgage (P&I): −$724
• Tax from tax record: −$33 /mo · $395/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$530
• Net cashflow: $1,182

Break-even live

Break-even rent $1,030

Max offer price $138,000

Occupancy floor 48%

Sensitivity live

Price	-10% $1,260	-5% $1,221	+0% $1,182	+5% $1,142	+10% $1,103
Rent	-10% $982	-5% $1,082	+0% $1,182	+5% $1,281	+10% $1,381
Rate	-1.0pp $1,251	-0.5pp $1,217	base $1,182	+0.5pp $1,146	+1.0pp $1,109

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: $34,500
• Closing costs: $4,140
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
777 W Covina Blvd Covina, CA	2.0–3.0	1.5–2.0	1030	$2,746	$2.67	2d	3	0.35mi
1160 N Conwell Ave Covina, CA	1.0–3.0	1.0–2.0	1048	$2,387	$2.28	0d	12	0.37mi
4459 N Roxburgh Ave Covina, CA	3.0	2.0	1024	$3,600	$3.52	16d	1	0.56mi
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	45d	6	0.69mi
1130 W San Bernardino Rd Covina, CA	1.0	1.0	600	$1,695	$2.83	4d	2	0.69mi
535 N Lark Ellen Ave Unit 01 Covina, CA	3.0	2.0	1008	$2,795	$2.77	3d	1	0.73mi
800 S Azusa Ave Azusa, CA	2.0	2.0	1000	$2,049	$2.05	8d	1	0.77mi
1375 W San Bernardino Rd Covina, CA	1.0	1.0	750	$1,695	$2.26	0d	1	0.79mi
1375 W San Bernardino Rd Covina, CA	1.0	1.0	750	$1,750	$2.33	20d	1	0.79mi
1163 W Badillo St Unit 3 Covina, CA	2.0	1.5	1100	$2,695	$2.45	44d	1	0.80mi
1163 W Badillo St Unit 12 Covina, CA	2.0	1.5	1100	$2,695	$2.45	14d	1	0.80mi
5246 N Gareloch Ave Unit B Azusa, CA	2.0	1.0	800	$2,200	$2.75	44d	1	0.89mi
745 S Lark Ellen Ave Unit ABCD Azusa, CA	2.0	2.0	1000	$2,400	$2.40	18d	1	0.89mi
1831 E Grovecenter St West Covina, CA	2.0	1.5	945	$2,575	$2.72	25d	1	0.90mi
4930 N Vincent Ave Covina, CA	2.0	1.0	1000	$3,200	$3.20	23d	1	0.90mi
808 N Azusa Ave West Covina, CA	2.0	1.5	1080	$2,350	$2.18	44d	2	0.90mi
744 N Azusa Ave West Covina, CA	1.0	1.0	756	$1,895	$2.51	25d	1	0.96mi
731 N Azusa Ave West Covina, CA	2.0	1.0	800	$1,950	$2.44	21d	1	0.96mi
731 N Azusa Ave West Covina, CA	2.0	1.0	770	$2,050	$2.66	2d	1	0.96mi
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
18421 E Cypress St Covina, CA	1.0	1.0	800	$2,500	$3.12	44d	1	1.09mi
707 N Park Ave Covina, CA	2.0	2.0	900	$2,900	$3.22	44d	1	1.22mi
136 W Orange St Covina, CA	1.0	1.0	650	$2,200	$3.38	25d	1	1.24mi
328 S Azusa Ave Azusa, CA	2.0	2.5	978	$2,900	$2.97	20d	1	1.32mi
777 S Citrus Ave #107 Azusa, CA	2.0	2.0	994	$2,650	$2.67	25d	1	1.32mi
777 S Citrus Ave Azusa, CA	1.0	1.0	709	$2,200	$3.10	13d	1	1.32mi
18537 E Arrow Hwy Covina, CA	1.0–2.0	1.0–2.5	937	$2,650	$2.83	5d	7	1.39mi
230 S Azusa Ave Unit 2 Azusa, CA	2.0	1.0	900	$2,000	$2.22	44d	1	1.43mi
18615 E Arrow Hwy Covina, CA	1.0	1.0	619	$1,976	$3.19	11d	2	1.45mi
18645 E Arrow Hwy Covina, CA	2.0	—	919	$2,129	$2.32	14d	1	1.48mi

Listing history 8 events

1. 2026-06-21
   days on market $138,000 Active 3 DOM
2. 2026-06-18
   statusdays on market $138,000 Active 1 DOM
3. 2026-06-18
   days on market $138,000 Coming Soon 6 DOM
4. 2026-06-17
   days on market $138,000 Coming Soon 5 DOM
5. 2026-06-16
   days on market $138,000 Coming Soon 4 DOM
6. 2026-06-15
   days on market $138,000 Coming Soon 3 DOM
7. 2026-06-13
   remarks 699-char remark
8. 2026-06-13
   listed $138,000 Coming Soon 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: $395 · $33/mo
• Projected year-2 tax: $1,049 · $87/mo
• Expected delta: +$654/yr (+$55/mo · 165.7%)

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

Taxation est. · year 1

• Rental income: $30,313
• − Mortgage interest: −$7,730
• − Property taxes: −$395
• − Insurance: −$690
• − Repairs & maintenance: −$2,425
• − Management: −$2,425
• − Depreciation: −$4,015
• Taxable income: $12,633
• Est. tax owed @ 24.0%: −$3,032
• After-tax cash flow: $11,146/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: 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

+590.0% since first listed

13 events — show timeline

• 2026-06-13 Coming Soon $138,000 CRMLS
• 2024-08-02 Sold (MLS) $79,000 CRMLS
• 2024-07-22 Pending — CRMLS
• 2024-06-29 Relisted — CRMLS
• 2024-05-24 Contingent — CRMLS
• 2024-04-15 Listed $79,000 CRMLS
• 2009-07-15 Listing Removed — CRMLS
• 2009-05-27 Price Changed $24,500 CRMLS
• 2009-05-26 Relisted — CRMLS
• 2009-05-23 Listing Removed — CRMLS
• 2009-02-22 Listed $34,500 CRMLS
• 2003-06-27 Listing Removed — CRMLS
• 2002-12-28 Listed $20,000 CRMLS

Property tax history

+101.8%/yr

Latest (2025): $395 · +101.8% YoY. Source: county tax records.