1441 S Paso Real Ave #21 · Rowland Heights, CA 91748

$188,000

3 bd · 2.0 ba · 1,440 sqft · Manufactured public records · 38 Days on market

Built 1972 Good condition $131/sqft · 8% below area Est $203k · 8% under

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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
• ARV discount +10.9/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +5.0/5.0
• Schools +4.5/10.0
• Condition / age +3.8/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

* * * Good location Home close to the front entrance * * * Living Area: 1,440Sq. Ft. (60 ft. x 24 ft. ). The exterior walls have been freshly painted, and the outdoor carpeting has also been replaced. The interior is bright and airy, featuring an open-concept layout. The home is equipped with a central air conditioning and heating system. It comprises 2 bedrooms (In addition, th 3rd bedroom without permit– buyers are advised to verify the licensing status themselves), 2 bathrooms, and 3 parking spaces. The interior also features a dedicated laundry room. A spacious living room connects to a formal dining area, which includes a built-in china cabinet. The comfortable master bedr

Key facts

• Open-concept layout
• 2 parking spots
• Community pool

Tags

• FRESHLY PAINTED EXTERIOR
• OUTDOOR CARPETING REPLACED
• OPEN-CONCEPT LAYOUT
• CENTRAL AIR CONDITIONING
• DEDICATED LAUNDRY ROOM
• BUILT-IN CHINA CABINET

Property features AI

Finance

• Other: Park name: Rowland Heights; Pets allowed with size/number limits; contact manager
• Financial info: Assessments: unknown — buyer to verify; Mobile home remains (may affect financing/land lease considerations)
• HOA & community: Land lease ($1,480); Manager approval required; Community features: street lighting

Exterior

• Parking: Attached carport; Concrete driveway; 2 parking spaces (includes 2 carport spaces)
• Security: Carbon monoxide detector(s); Smoke detector
• Utilities: Public/district water; Public sewer; Standard electric; Natural gas available; Electricity available; Water and sewer available
• Home design: Mobile home (24' x 60') remains on site; Double body type; One story
• Construction: Aluminum construction materials; Metal roof; Aluminum skirt; Pillar/post/pier foundation with pier jacks; One shed on property; Property in need of cosmetic repairs; Year built per appraiser
• Exterior features: Porch; Patio; Awning; Back yard / yard; In-ground community pool (fenced)

Interior

• Kitchen: Garbage disposal; Gas range; Gas oven; Formica counters
• Bedrooms: Primary bedroom; Primary suite
• Flooring: Tile; Laminate
• Bathrooms: 2 full bathrooms with bathtub and shower; Formica counters in bathrooms
• Heating & cooling: Central heating (central furnace); Central cooling
• Interior features: Wood product walls; Formica counters; Carbon monoxide detector(s); Smoke detector; Screens; One level; Ground-level entry with steps; Entry on level 1; In-ground, heated community spa
• Laundry & utility: Separate laundry room; Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $188k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $188k).
• Recommended offer: $182k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.9% vs local median 2.7% in Rowland Heights — 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 50/100 on livability (#1,123 in CA) — a working-class tenant base; expect higher turnover. Strengths: employment A; Watch: crime C-, amenities F, commute F.
• Rowland Unified (suburban): math 40% / reading 62% proficiency, ranked #134 of 517 in CA (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Jellick Elementary (382 students, 82% FRL); Alvarado Intermediate (648 students, 73% FRL); John A. Rowland High (math 49% / reading 68%, grade C, #223 of 1,170 statewide, top 19%, 2,025 students, 67% FRL) — zoned schools average 74% FRL vs 56% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+10.3%/yr); 104 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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).
• At $3,489/mo this rent would consume 50% of the median local household income ($83k/yr) (locally 1440% 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 $1k of loan paydown is wiped out by about $6k 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 $53k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($182k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $182,360 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.86% ✓
• Cap rate: 16.86%
• Cash-on-cash: 37.73%
• DSCR: 2.68
• GRM: 4.5

CMA / ARV

• ARV (median comp): $203,342
• List price: $188,000
• Delta: -7.54%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1441 Paso Real Ave #327	0.00mi	3/2.0	1,440 (0%)	1mo	$200,000	$139	99
1441 Paso Real Ave #255	0.00mi	3/2.0	1,440 (0%)	8mo	$193,000	$134	94
1441 Paso Real Ave #119	0.00mi	3/2.0	1,392 (-3%)	4mo	$220,000	$158	91
1441 Paso Real Ave #246	0.00mi	4/3.0 (+1)	1,440 (0%)	0mo	$210,000	$146	91
1441 S Paso Real Ave #27	0.00mi	4/2.0 (+1)	1,440 (0%)	6mo	$195,000	$135	90
1441 Paso Real Ave #203	0.00mi	4/2.0 (+1)	1,493 (+4%)	4mo	$230,000	$154	86
1441 Paso Real Ave #184	0.09mi	3/2.0	1,493 (+4%)	9mo	$285,470	$191	82
1440 Paso Real Ave #37	0.07mi	2/2.0 (-1)	1,344 (-7%)	2mo	$175,000	$130	78
1560 Otterbein Ave #12	0.56mi	3/2.0	1,414 (-2%)	4mo	$365,000	$258	68
1560 S Otterbein Ave #58	0.56mi	3/3.0	1,440 (0%)	8mo	$345,000	$240	63
1560 S Otterbein Ave #113	0.56mi	3/2.0	1,568 (+9%)	4mo	$308,000	$196	56
1560 S Otterbein #138 Ave #138	0.56mi	3/2.0	1,320 (-8%)	10mo	$300,000	$227	52

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: 38.9%
• Equity multiple: 2.77×
• Total profit: $93,310
• Equity at exit: $28,031

10-year hold

• IRR: 47.6%
• Equity multiple: 6.71×
• Total profit: $300,612
• Equity at exit: $16,255

Cash invested: $52,640 (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 91748

• Rents YoY: 10.3%
• Active inventory: 104
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $3,489 high
• Mortgage (P&I): −$986
• Tax from tax record: −$37 /mo · $442/yr
• Insurance: −$78
• HOA: −$0
• Vacancy / Maint / Mgmt: −$733
• Net cashflow: $1,655

Break-even live

Break-even rent $1,394

Max offer price $188,000

Occupancy floor 48%

Sensitivity live

Price	-10% $1,761	-5% $1,708	+0% $1,655	+5% $1,602	+10% $1,549
Rent	-10% $1,379	-5% $1,517	+0% $1,655	+5% $1,793	+10% $1,931
Rate	-1.0pp $1,750	-0.5pp $1,703	base $1,655	+0.5pp $1,606	+1.0pp $1,557

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: $47,000
• Closing costs: $5,640
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18567 Colima Rd Rowland Heights, CA	1.0–2.0	1.0–2.0	845	$2,400	$2.84	4d	26	0.29mi
18617 Trot Ave Rowland Heights, CA	3.0	2.0	1251	$3,350	$2.68	18d	1	0.33mi
1809 Paso Real Ave Rowland Heights, CA	4.0	2.0	1259	$3,500	$2.78	25d	1	0.33mi
1808 Santa Ysabela Dr Rowland Heights, CA	4.0	2.0	1175	$3,500	$2.98	21d	1	0.41mi
1439 S Jellick Ave Unit B Rowland Heights, CA	2.0	1.5	1049	$2,300	$2.19	5d	1	0.42mi
19050 Colima Rd Rowland Heights, CA	1.0–2.0	1.0–2.0	833	$2,595	$3.12	23d	2	0.45mi
1316 Raleo Ave Rowland Heights, CA	4.0	2.0	1200	$5,000	$4.17	16d	1	0.52mi
18417 Santar St Rowland Heights, CA	4.0	2.0	1142	$3,300	$2.89	17d	1	0.52mi
19231 Tranbarger St Rowland Heights, CA	3.0	2.0	1170	$3,200	$2.74	44d	1	0.62mi
18573 Farjardo St Rowland Heights, CA	3.0	2.0	1300	$3,750	$2.88	44d	1	0.74mi
18658 Mescalero St Rowland Heights, CA	3.0	2.0	1352	$3,800	$2.81	23d	1	0.78mi
19319 Pilario St Rowland Heights, CA	4.0	2.0	1480	$3,750	$2.53	44d	1	0.80mi
2240 Electra Ave Rowland Heights, CA	3.0	2.0	1256	$3,200	$2.55	18d	1	0.99mi
2415 Los Padres Dr Rowland Heights, CA	3.0	2.0	1120	$3,300	$2.95	17d	1	1.00mi
2601 E Valley Blvd West Covina, CA	1.0–2.0	1.0–2.0	925	$2,650	$2.86	8d	3	1.00mi
2243 Otterbein Ave Rowland Heights, CA	3.0	2.0	1286	$3,600	$2.80	44d	1	1.01mi
18626 Barroso St Rowland Heights, CA	3.0	2.0	1446	$3,890	$2.69	3d	1	1.04mi
2817 E Valley Blvd West Covina, CA	3.0	2.0	1050	$3,100	$2.95	44d	1	1.08mi
2847 Valley Blvd West Covina, CA	1.0–2.0	1.0	879	$3,040	$3.46	2d	7	1.09mi
4037 S Ellesford Ave West Covina, CA	4.0	2.0	1790	$4,195	$2.34	0d	1	1.13mi
1862 Hollandale Ave Rowland Heights, CA	4.0	2.0	1588	$4,250	$2.68	17d	1	1.13mi
18448 La Guardia St Rowland Heights, CA	4.0	2.0	1386	$6,900	$4.98	0d	1	1.15mi
19358 Alcona St Rowland Heights, CA	4.0	2.0	1613	$3,950	$2.45	44d	1	1.16mi
684 Panorama Ln La Puente, CA	3.0	3.5	1683	$3,600	$2.14	21d	1	1.17mi
684 Panorama Ln La Puente, CA	3.0	3.5	1683	$3,600	$2.14	18d	1	1.17mi
2143 Arcdale Ave Rowland Heights, CA	3.0	2.0	1386	$3,500	$2.53	25d	1	1.20mi
19307 Oakview Ln Rowland Heights, CA	4.0	2.0	1789	$3,850	$2.15	44d	1	1.26mi
17800 Colima Rd Rowland Heights, CA	1.0–2.0	1.0–2.0	764	$2,980	$3.90	0d	7	1.34mi
2454 Hillman Ln Rowland Heights, CA	3.0	2.5	1506	$3,800	$2.52	44d	1	1.39mi

Listing history 16 events

1. 2026-06-21
   days on market $188,000 Active 38 DOM
2. 2026-06-18
   days on market $188,000 Active 35 DOM
3. 2026-06-17
   days on market $188,000 Active 34 DOM
4. 2026-06-16
   days on market $188,000 Active 33 DOM
5. 2026-06-15
   days on market $188,000 Active 32 DOM
6. 2026-06-13
   days on market $188,000 Active 30 DOM
7. 2026-06-13
   days on market $188,000 Active 29 DOM
8. 2026-06-09
   days on market $188,000 Active 26 DOM
9. 2026-06-08
   days on market $188,000 Active 25 DOM
10. 2026-06-07
    days on market $188,000 Active 24 DOM
11. 2026-06-04
    days on market $188,000 Active 21 DOM
12. 2026-06-03
    days on market $188,000 Active 20 DOM
13. 2026-06-02
    days on market $188,000 Active 19 DOM
14. 2026-06-01
    days on market $188,000 Active 18 DOM
15. 2026-05-31
    days on market $188,000 Active 17 DOM
16. 2026-05-14
    listed $188,000 Active 1397-char remark

ⓘ 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: $442 · $37/mo
• Projected year-2 tax: $1,429 · $119/mo
• Expected delta: +$987/yr (+$82/mo · 223.1%)

ⓘ 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 ≥99°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 13 unhealthy d/yr today · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $41,864
• − Mortgage interest: −$10,531
• − Property taxes: −$442
• − Insurance: −$940
• − Repairs & maintenance: −$3,349
• − Management: −$3,349
• − Depreciation: −$5,469
• Taxable income: $17,784
• Est. tax owed @ 24.0%: −$4,268
• After-tax cash flow: $15,592/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

Good 75/100 Cosmetic rehab

This manufactured home is in good condition with a good location and open-concept layout. Minor repairs and updates to the kitchen and bathrooms would significantly enhance its resale and rental value.

Repairs flagged

• Minor kitchen backsplash — Worn and outdated backsplash
• Minor bathroom fixtures — Basic and dated fixtures

Value-add opportunities

• Resale Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Resale Replace kitchen backsplash — A new backsplash improves functionality and style
• Resale Upgrade bathroom fixtures — Modern fixtures enhance the bathroom's appeal and functionality

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen backsplash · Worn and outdated backsplash	Minor	$500–3,000
bathroom fixtures · Basic and dated fixtures	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Resale Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Resale Replace kitchen backsplash — A new backsplash improves functionality and style ↑
• Resale Upgrade bathroom fixtures — Modern fixtures enhance the bathroom's appeal and functionality ↑

ⓘ 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: Rowland Unified
• NCES district ID: 0633750
• Math proficiency: 40% ▼ -1.00%
• Reading proficiency: 62% ▲ 11.00%
• Median HH income: $63,667
• Composite: 44.83/100
• National rank: #2733
• State rank: #134 of 517 in CA

Livability — Rowland Heights

• Score: 50/100
• State rank: #1123
• US rank: #25637

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rowland Heights, CA
• County: Los Angeles County · 9,444,647 people
• City population: 42,463
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 42,463
• Household income: $83,428
• Rent vs Own: 33.4% rent · 66.6% own
• Severe rent burden: 1440.0

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 Asian (59%)
• Race & ethnicity: Asian 59% Hispanic / Latino 31% Two or more races 6% White 6% Black 1%
• Hispanic origin (detail): Mexican 25%
• Foreign-born: 55% · China, Canada, South Korea
• Languages at home: 25% English-only · Chinese 37% Spanish 22% Tagalog/Filipino 5%

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: ▼ -754.24%
• Current HPI: 364.5923
• Rent YoY: ▲ 10.27%
• 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

1 event — show timeline

• 2026-05-14 Listed $188,000 CRMLS

Property tax history

+6.7%/yr

Latest (2025): $442 · +6.7% YoY. Source: county tax records.