1441 Paso Real Ave #224 · Rowland Heights, CA 91748

$179,900

4 bd · 4.0 ba · 1,440 sqft · Manufactured public records · 68 Days on market

Built 1971 2,000 sqft lot $125/sqft · 12% below area Est $203k · 12% 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 +12.7/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +5.0/5.0
• Schools +4.5/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Versatile and beautifully upgraded 4-bedroom, 4-bath home featuring a highly functional layout with abundant natural light throughout and two separate entrances. One entrance leads to a private 1-bedroom, 1-bath suite with its own living area, ideal for extended family or guest use. The main living area offers 3 bedrooms and 3 bathrooms, providing both comfort and flexibility. Recent upgrades include new flooring throughout and individual mini-split A/C units in each room for enhanced comfort and energy efficiency. Ideally located in a prime area of Rowland Heights, just minutes from supermarkets, restaurants, banks, and everyday conveniences. The community offers great amenities, including a swimming pool, spa, clubhouse, and recreational facilities, all within a peaceful and well-maintained park setting. Enjoy comfortable living in a convenient and sought-after location.

Key facts

• Clubhouse
• Spa
• Swimming pool

Tags

• PRIVATE SUITE
• SWIMMING POOL
• SPA
• CLUBHOUSE
• RECREATIONAL FACILITIES
• PEACEFUL PARK SETTING

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath manufactured listed at $180k.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $180k).
• Recommended offer: $169k (6.0% below list) — sets the bar for market timing.
• Cap rate 19.3% vs local median 2.6% 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.
• Market conditions: Rents rising fast (+10.3%/yr); 104 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $3,809/mo this rent would consume 55% 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 $5k 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 $50k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($169k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

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 $169,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.12% ✓
• Cap rate: 19.32%
• Cash-on-cash: 46.52%
• DSCR: 3.07
• GRM: 3.9

CMA / ARV

• ARV (median comp): $203,342
• List price: $179,900
• Delta: -11.53%
• Verdict: UNDERPRICED
• 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 #246	0.00mi	4/3.0	1,440 (0%)	0mo	$210,000	$146	96
1441 S Paso Real Ave #27	0.00mi	4/2.0	1,440 (0%)	6mo	$195,000	$135	87
1441 Paso Real Ave #327	0.00mi	3/2.0 (-1)	1,440 (0%)	1mo	$200,000	$139	86
1441 Paso Real Ave #271	0.09mi	5/4.0 (+1)	1,440 (0%)	6mo	$238,000	$165	86
1441 Paso Real Ave #203	0.00mi	4/2.0	1,493 (+4%)	4mo	$230,000	$154	83
1441 Paso Real Ave #255	0.00mi	3/2.0 (-1)	1,440 (0%)	8mo	$193,000	$134	81
1441 Paso Real Ave #119	0.00mi	3/2.0 (-1)	1,392 (-3%)	4mo	$220,000	$158	78
1441 Paso Real Ave #184	0.09mi	3/2.0 (-1)	1,493 (+4%)	9mo	$285,470	$191	69
1560 S Otterbein Ave #58	0.56mi	3/3.0 (-1)	1,440 (0%)	8mo	$345,000	$240	58
1560 Otterbein Ave #12	0.56mi	3/2.0 (-1)	1,414 (-2%)	4mo	$365,000	$258	54
1560 S Otterbein Ave #113	0.56mi	3/2.0 (-1)	1,568 (+9%)	4mo	$308,000	$196	43
1560 S Otterbein #138 Ave #138	0.56mi	3/2.0 (-1)	1,320 (-8%)	10mo	$300,000	$227	39

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: 49.1%
• Equity multiple: 3.29×
• Total profit: $115,308
• Equity at exit: $26,824

10-year hold

• IRR: 56.6%
• Equity multiple: 7.99×
• Total profit: $351,967
• Equity at exit: $15,554

Cash invested: $50,372 (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: 3.9×

Monthly cashflow live

• Estimated rent: $3,809 high
• Mortgage (P&I): −$943
• Tax from tax record: −$38 /mo · $457/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$800
• Net cashflow: $1,953

Break-even live

Break-even rent $1,337

Max offer price $179,900

Occupancy floor 44%

Sensitivity live

Price	-10% $2,055	-5% $2,004	+0% $1,953	+5% $1,902	+10% $1,851
Rent	-10% $1,652	-5% $1,802	+0% $1,953	+5% $2,103	+10% $2,254
Rate	-1.0pp $2,044	-0.5pp $1,999	base $1,953	+0.5pp $1,906	+1.0pp $1,859

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
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	22d	1	0.41mi
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	18d	1	0.52mi
19231 Tranbarger St Rowland Heights, CA	3.0	2.0	1170	$3,200	$2.74	45d	1	0.62mi
18573 Farjardo St Rowland Heights, CA	3.0	2.0	1300	$3,750	$2.88	45d	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	45d	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	18d	1	1.00mi
2243 Otterbein Ave Rowland Heights, CA	3.0	2.0	1286	$3,600	$2.80	45d	1	1.01mi
18626 Barroso St Rowland Heights, CA	3.0	2.0	1446	$3,890	$2.69	4d	1	1.04mi
2817 E Valley Blvd West Covina, CA	3.0	2.0	1050	$3,100	$2.95	45d	1	1.08mi
19530 Springport Dr Rowland Heights, CA	5.0	2.0	1600	$3,499	$2.19	45d	1	1.12mi
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	18d	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	45d	1	1.16mi
684 Panorama Ln La Puente, CA	3.0	3.5	1683	$3,600	$2.14	18d	1	1.17mi
684 Panorama Ln La Puente, CA	3.0	3.5	1683	$3,600	$2.14	22d	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	45d	1	1.26mi
2454 Hillman Ln Rowland Heights, CA	3.0	2.5	1506	$3,800	$2.52	45d	1	1.39mi

Listing history 24 events

1. 2026-06-21
   days on market $179,900 Active 68 DOM
2. 2026-06-18
   days on market $179,900 Active 65 DOM
3. 2026-06-17
   days on market $179,900 Active 64 DOM
4. 2026-06-16
   days on market $179,900 Active 63 DOM
5. 2026-06-15
   days on market $179,900 Active 62 DOM
6. 2026-06-13
   days on market $179,900 Active 60 DOM
7. 2026-06-13
   days on market $179,900 Active 59 DOM
8. 2026-06-09
   days on market $179,900 Active 56 DOM
9. 2026-06-08
   days on market $179,900 Active 55 DOM
10. 2026-06-07
    days on market $179,900 Active 54 DOM
11. 2026-06-04
    days on market $179,900 Active 51 DOM
12. 2026-06-03
    days on market $179,900 Active 50 DOM
13. 2026-06-02
    days on market $179,900 Active 49 DOM
14. 2026-06-01
    days on market $179,900 Active 48 DOM
15. 2026-05-31
    days on market $179,900 Active 47 DOM
16. 2026-04-14
    listed $189,000 Active 885-char remark

    Show marketing remark (885 chars)

    Versatile and beautifully upgraded 4-bedroom, 4-bath home featuring a highly functional layout with abundant natural light throughout and two separate entrances. One entrance leads to a private 1-bedroom, 1-bath suite with its own living area, ideal for extended family or guest use. The main living area offers 3 bedrooms and 3 bathrooms, providing both comfort and flexibility. Recent upgrades include new flooring throughout and individual mini-split A/C units in each room for enhanced comfort and energy efficiency. Ideally located in a prime area of Rowland Heights, just minutes from supermarkets, restaurants, banks, and everyday conveniences. The community offers great amenities, including a swimming pool, spa, clubhouse, and recreational facilities, all within a peaceful and well-maintained park setting. Enjoy comfortable living in a convenient and sought-after location.

17. 2023-09-14
    soldstatus $170,000 Closed Sale 313-char remark

    Show marketing remark (313 chars)

    * * * * 1440 square feet with 4 beds and 3 baths. It's been remolded in 2019 with a new kitchen, cabinets, water heater, and added 2 more rooms and a bathroom. Big living room connected to the dining room. The property is in good condition. Carport for 3 cars. Come take a look at this unit. Motivated seller!

18. 2023-08-10
    status Pending Sale 313-char remark

    Show marketing remark (313 chars)

    * * * * 1440 square feet with 4 beds and 3 baths. It's been remolded in 2019 with a new kitchen, cabinets, water heater, and added 2 more rooms and a bathroom. Big living room connected to the dining room. The property is in good condition. Carport for 3 cars. Come take a look at this unit. Motivated seller!

19. 2023-06-12
    listed $179,900 Active 313-char remark

    Show marketing remark (313 chars)

    * * * * 1440 square feet with 4 beds and 3 baths. It's been remolded in 2019 with a new kitchen, cabinets, water heater, and added 2 more rooms and a bathroom. Big living room connected to the dining room. The property is in good condition. Carport for 3 cars. Come take a look at this unit. Motivated seller!

20. 2019-06-25
    soldstatus $85,000 Closed Sale
21. 2019-05-30
    status Pending Sale
22. 2019-04-02
    historical Active Under Contract
23. 2019-02-26
    price $92,800
24. 2018-12-12
    listed $97,900 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: $457 · $38/mo
• Projected year-2 tax: $1,367 · $114/mo
• Expected delta: +$911/yr (+$76/mo · 199.5%)

ⓘ 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: $45,712
• − Mortgage interest: −$10,077
• − Property taxes: −$457
• − Insurance: −$900
• − Repairs & maintenance: −$3,657
• − Management: −$3,657
• − Depreciation: −$5,233
• Taxable income: $21,731
• Est. tax owed @ 24.0%: −$5,216
• After-tax cash flow: $18,220/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: 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

+93.1% since first listed

9 events — show timeline

• 2026-04-14 Listed $189,000 CRMLS
• 2023-09-14 Sold (MLS) $170,000 CRMLS
• 2023-08-10 Pending — CRMLS
• 2023-06-12 Listed $179,900 CRMLS
• 2019-06-25 Sold (MLS) $85,000 CRMLS
• 2019-05-30 Pending — CRMLS
• 2019-04-02 Contingent — CRMLS
• 2019-02-26 Price Changed $92,800 CRMLS
• 2018-12-12 Listed $97,900 CRMLS

Property tax history

+6.2%/yr

Latest (2025): $457 · +6.2% YoY. Source: county tax records.