1324 N Citrus Ave #12 · Covina, CA 91722

$129,000

2 bd · 1.0 ba · 960 sqft · Manufactured public records · 223 Days on market

Built 1969 Fair condition $134/sqft · 21% below area Est $137k · 6% under ↓ 32% since listing

---

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 +10.0/15.0
• Rent growth +5.0/5.0
• Schools +4.4/10.0
• Livability +3.6/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming Manufactured Home –55+ Community -Move-In Ready! Welcome home to this well-maintained 2-bedroom, 1-bath manufactured home featuring a bonus room and convenient indoor laundry. With approximately 800 sq. ft. of comfortable living space, this home is perfect for anyone looking for affordability and convenience. Enjoy beautiful laminate flooring throughout and a bright, open layout. The kitchen comes fully equipped with a stove, refrigerator, washer, and dryer, making this home truly move-in ready. Don’t miss this great opportunity to own a cozy Mobile Home in excellent condition — schedule your showing today!

Key facts

• Laminate flooring
• Bonus room
• Indoor laundry

Tags

• BONUS ROOM
• INDOOR LAUNDRY
• LAMINATE FLOORING
• FULLY EQUIPPED KITCHEN

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $129k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $129k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.3% vs local median 2.4% 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); 66 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals leasing fast (median 12d 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 $892 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 $36k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 223 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $113,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 223 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 1969 — 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: 1.93% ✓
• Cap rate: 16.33%
• Cash-on-cash: 35.84%
• DSCR: 2.59
• GRM: 4.3

CMA / ARV

• ARV (median comp): $136,640
• List price: $129,000
• Delta: -5.59%
• Verdict: FAIR
• Comps: 18 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1380 N Citrus Ave Unit B8	0.09mi	2/2.0	920 (-4%)	12mo	$160,000	$174	74
1324 N Citrus Ave #25	0.02mi	2/2.0	1,040 (+8%)	9mo	$254,900	$245	73
1380 N CITRUS #G17	0.09mi	2/2.0	840 (-12%)	4mo	$122,000	$145	67
925 Bonita Ave #24	0.64mi	3/2.0 (+1)	960 (0%)	7mo	$267,500	$279	55

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: 37.1%
• Equity multiple: 2.69×
• Total profit: $61,013
• Equity at exit: $19,234

10-year hold

• IRR: 46.2%
• Equity multiple: 6.58×
• Total profit: $201,728
• Equity at exit: $11,154

Cash invested: $36,120 (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: 66
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $2,494 high
• Mortgage (P&I): −$676
• Tax est. 1.5%: −$161 /mo · $1,935/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$524
• Net cashflow: $1,079

Break-even live

Break-even rent $1,128

Max offer price $129,000

Occupancy floor 52%

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18537 E Arrow Hwy Covina, CA	1.0–2.0	1.0–2.5	937	$2,650	$2.83	4d	7	0.24mi
18615 E Arrow Hwy Covina, CA	1.0	1.0	619	$1,976	$3.19	10d	2	0.29mi
18645 E Arrow Hwy Covina, CA	2.0	—	919	$2,129	$2.32	13d	1	0.31mi
777 S Citrus Ave #107 Azusa, CA	2.0	2.0	994	$2,650	$2.67	24d	1	0.31mi
777 S Citrus Ave Azusa, CA	1.0	1.0	709	$2,200	$3.10	12d	1	0.31mi
18421 E Cypress St Covina, CA	1.0	1.0	800	$2,500	$3.12	43d	1	0.55mi
5442 N Ranger Dr Covina, CA	2.0	1.5	1032	$2,975	$2.88	43d	1	0.57mi
707 N Park Ave Covina, CA	2.0	2.0	900	$2,900	$3.22	43d	1	0.75mi
826 N Barranca Ave Covina, CA	1.0–2.0	1.0–2.0	762	$2,295	$3.01	43d	2	0.82mi
501 E Hurst St Unit 2 Covina, CA	2.0	1.0	866	$1,900	$2.19	3d	1	0.83mi
1160 N Conwell Ave Covina, CA	1.0–3.0	1.0–2.0	1048	$2,499	$2.38	1d	11	0.86mi
777 W Covina Blvd Covina, CA	2.0–3.0	1.5–2.0	1030	$2,746	$2.67	1d	3	0.87mi
554 E Hurst St Unit 2 Covina, CA	2.0	1.0	866	$2,650	$3.06	5d	1	0.90mi
800 S Azusa Ave Azusa, CA	2.0	2.0	1000	$2,049	$2.05	7d	1	1.00mi
1400 N Grand Ave Covina, CA	1.0–2.0	1.0–2.0	846	$2,720	$3.22	1d	5	1.02mi
136 W Orange St Covina, CA	1.0	1.0	650	$2,200	$3.38	24d	1	1.04mi
19531 E Cienega Ave Unit 208 Covina, CA	2.0	2.0	850	$2,195	$2.58	19d	1	1.06mi
273 W Arrow Hwy Azusa, CA	2.0	1.0–2.0	725	$2,495	$3.44	5d	4	1.13mi
367 N Prospero Dr Covina, CA	2.0	2.0	1000	$1,950	$1.95	7d	1	1.18mi
440 W Gladstone St Glendora, CA	1.0–2.0	1.0–2.0	875	$2,390	$2.73	1d	9	1.24mi
628 E Italia St Unit 3 Covina, CA	2.0	1.5	900	$1,850	$2.06	7d	1	1.28mi
364 E Badillo St Unit 368 1/2 Covina, CA	1.0	1.0	592	$1,725	$2.91	2d	1	1.28mi
364 E Badillo St Unit 372 Covina, CA	1.0	1.0	592	$1,750	$2.96	12d	1	1.28mi
255 E Center St Covina, CA	1.0	1.0	625	$2,195	$3.51	7d	1	1.29mi
253 E Center St Covina, CA	1.0	1.0	625	$2,295	$3.67	7d	1	1.30mi
328 S Azusa Ave Azusa, CA	2.0	2.5	978	$2,900	$2.97	19d	1	1.33mi
111 S Barranca Ave Covina, CA	2.0	1.0	957	$2,445	$2.55	13d	1	1.35mi
111 S Barranca Ave Covina, CA	1.0	1.0	687	$2,195	$3.20	4d	1	1.35mi
111 S Barranca Ave Covina, CA	1.0	1.0	687	$2,035	$2.96	43d	1	1.35mi
111 S Barranca Ave Covina, CA	1.0	1.0	687	$2,035	$2.96	15d	1	1.35mi
230 S Azusa Ave Unit 2 Azusa, CA	2.0	1.0	900	$2,000	$2.22	43d	1	1.42mi
320 S 1st Ave Covina, CA	2.0	2.0	1090	$2,595	$2.38	17d	1	1.45mi
321 S San Jose Ave Covina, CA	2.0	2.0	1090	$2,595	$2.38	17d	2	1.46mi
228 E Puente St Unit 230 Covina, CA	2.0	1.0	1080	$2,550	$2.36	17d	1	1.50mi

Listing history 19 events

1. 2026-06-18
   days on market $129,000 Active 223 DOM
2. 2026-06-17
   days on market $129,000 Active 222 DOM
3. 2026-06-16
   days on market $129,000 Active 221 DOM
4. 2026-06-15
   days on market $129,000 Active 220 DOM
5. 2026-06-13
   days on market $129,000 Active 218 DOM
6. 2026-06-13
   days on market $129,000 Active 217 DOM
7. 2026-06-09
   days on market $129,000 Active 214 DOM
8. 2026-06-08
   days on market $129,000 Active 213 DOM
9. 2026-06-07
   days on market $129,000 Active 212 DOM
10. 2026-06-04
    days on market $129,000 Active 209 DOM
11. 2026-06-03
    days on market $129,000 Active 208 DOM
12. 2026-06-02
    days on market $129,000 Active 207 DOM
13. 2026-06-01
    days on market $129,000 Active 206 DOM
14. 2026-05-31
    days on market $129,000 Active 205 DOM
15. 2026-04-23
    price $129,000 641-char remark

    Show marketing remark (641 chars)

    Charming Manufactured Home –55+ Community -Move-In Ready! Welcome home to this well-maintained 2-bedroom, 1-bath manufactured home featuring a bonus room and convenient indoor laundry. With approximately 800 sq. ft. of comfortable living space, this home is perfect for anyone looking for affordability and convenience. Enjoy beautiful laminate flooring throughout and a bright, open layout. The kitchen comes fully equipped with a stove, refrigerator, washer, and dryer, making this home truly move-in ready. Don’t miss this great opportunity to own a cozy Mobile Home in excellent condition — schedule your showing today!

16. 2026-03-04
    price $145,000 641-char remark

    Show marketing remark (641 chars)

    Charming Manufactured Home –55+ Community -Move-In Ready! Welcome home to this well-maintained 2-bedroom, 1-bath manufactured home featuring a bonus room and convenient indoor laundry. With approximately 800 sq. ft. of comfortable living space, this home is perfect for anyone looking for affordability and convenience. Enjoy beautiful laminate flooring throughout and a bright, open layout. The kitchen comes fully equipped with a stove, refrigerator, washer, and dryer, making this home truly move-in ready. Don’t miss this great opportunity to own a cozy Mobile Home in excellent condition — schedule your showing today!

17. 2026-02-06
    price $149,000 641-char remark

    Show marketing remark (641 chars)

    Charming Manufactured Home –55+ Community -Move-In Ready! Welcome home to this well-maintained 2-bedroom, 1-bath manufactured home featuring a bonus room and convenient indoor laundry. With approximately 800 sq. ft. of comfortable living space, this home is perfect for anyone looking for affordability and convenience. Enjoy beautiful laminate flooring throughout and a bright, open layout. The kitchen comes fully equipped with a stove, refrigerator, washer, and dryer, making this home truly move-in ready. Don’t miss this great opportunity to own a cozy Mobile Home in excellent condition — schedule your showing today!

18. 2025-12-16
    price $155,000 641-char remark

    Show marketing remark (641 chars)

    Charming Manufactured Home –55+ Community -Move-In Ready! Welcome home to this well-maintained 2-bedroom, 1-bath manufactured home featuring a bonus room and convenient indoor laundry. With approximately 800 sq. ft. of comfortable living space, this home is perfect for anyone looking for affordability and convenience. Enjoy beautiful laminate flooring throughout and a bright, open layout. The kitchen comes fully equipped with a stove, refrigerator, washer, and dryer, making this home truly move-in ready. Don’t miss this great opportunity to own a cozy Mobile Home in excellent condition — schedule your showing today!

19. 2025-11-07
    listed $189,000 Active 641-char remark

    Show marketing remark (641 chars)

    Charming Manufactured Home –55+ Community -Move-In Ready! Welcome home to this well-maintained 2-bedroom, 1-bath manufactured home featuring a bonus room and convenient indoor laundry. With approximately 800 sq. ft. of comfortable living space, this home is perfect for anyone looking for affordability and convenience. Enjoy beautiful laminate flooring throughout and a bright, open layout. The kitchen comes fully equipped with a stove, refrigerator, washer, and dryer, making this home truly move-in ready. Don’t miss this great opportunity to own a cozy Mobile Home in excellent condition — schedule your showing today!

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 66% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥98°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 15 unhealthy d/yr today · 17 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,926
• − Mortgage interest: −$7,226
• − Property taxes: −$1,935
• − Insurance: −$645
• − Repairs & maintenance: −$2,394
• − Management: −$2,394
• − Depreciation: −$3,753
• Taxable income: $11,579
• Est. tax owed @ 24.0%: −$2,779
• After-tax cash flow: $10,165/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 Cosmetic rehab

This manufactured home is in fair condition with some cosmetic repairs and maintenance needed. It is move-in ready with laminate flooring and a bright layout, but improvements to the exterior, interior, and HVAC system can significantly increase its value.

Repairs flagged

• Minor kitchen cabinets — Wear and tear visible on cabinet doors.
• Minor bathroom shower curtain — Visible wear on shower curtain, may need replacement.
• Moderate exterior siding — Weathered appearance, may need repainting or replacement.
• Moderate exterior overhang — Worn appearance, may need repair or replacement.
• Unknown HVAC system — No visible damage, but cannot confirm condition from exterior view.
• Minor landscaping — Minimal landscaping, could benefit from some maintenance and updates.

Value-add opportunities

• Both Paint interior walls and cabinets — Fresh paint can improve the home's appearance and value.
• Both Replace worn shower curtain — A new shower curtain can enhance the bathroom's appearance and functionality.
• Both Paint exterior siding and overhang — Fresh paint can improve the home's curb appeal and value.
• Both Landscaping improvements — A well-maintained yard can significantly increase the home's appeal and value.
• Both Replace HVAC system — A new HVAC system can improve comfort and energy efficiency, enhancing both resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · Wear and tear visible on cabinet doors.	Minor	$500–3,000
bathroom shower curtain · Visible wear on shower curtain, may need replacement.	Minor	$500–3,000
exterior siding · Weathered appearance, may need repainting or replacement.	Moderate	$3,000–15,000
exterior overhang · Worn appearance, may need repair or replacement.	Moderate	$3,000–15,000
HVAC system · No visible damage, but cannot confirm condition from exterior view.	Unknown	$500–3,000
landscaping · Minimal landscaping, could benefit from some maintenance and updates.	Minor	$500–3,000
Total estimated repair cost · 6 items		$8,000–42,000

Value-add ROI direction

• Both Paint interior walls and cabinets — Fresh paint can improve the home's appearance and value. ↑
• Both Replace worn shower curtain — A new shower curtain can enhance the bathroom's appearance and functionality. ↑
• Both Paint exterior siding and overhang — Fresh paint can improve the home's curb appeal and value. ↑
• Both Landscaping improvements — A well-maintained yard can significantly increase the home's appeal and value. ↑
• Both Replace HVAC system — A new HVAC system can improve comfort and energy efficiency, enhancing both resale and rental value. ↑

ⓘ 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

-31.7% since first listed

5 events — show timeline

• 2026-04-23 Price Changed $129,000 CRMLS
• 2026-03-04 Price Changed $145,000 CRMLS
• 2026-02-06 Price Changed $149,000 CRMLS
• 2025-12-16 Price Changed $155,000 CRMLS
• 2025-11-07 Listed $189,000 CRMLS

Property tax history

+10.7%/yr

Latest (2025): $196 · +10.7% YoY. Source: county tax records.