600 W Gladstone St Spc 44 · Azusa, CA 91702

$115,000

2 bd · 1.0 ba · 784 sqft · Manufactured public records · 46 Days on market

Built 1982 Good condition Est $95k · 21% over

---

Why this score? — see what drove the C+ 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
• Rent growth +3.8/5.0
• Condition / age +3.8/5.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 600 W. Gladstone Space 44 in the Caravan Mobile Home Park in the City of Azusa. This well-maintained Silvercrest Supreme being sold AS-IS features 2 bedrooms and 1 bathroom with a open functional layout. Enjoy a fully equipped kitchen, appliances included-refrigerator, stove, dishwasher and microwave. In-unit washer and dryer making moving in easy. The home also offers an enclosed patio, perfect for added living space, along with a private outdoor area, parking, and two storage sheds. Conveniently located near the 210 and 10 freeways, and just minutes from shopping, grocery stores, and local dining. A great opportunity for comfortable and convenient living in a well-located comm

Key facts

• 2 parking spots
• Community pool
• Built 1982

Property features AI

Finance

• Other: Two sheds on property
• HOA & community: Community amenities include clubhouse and pool; Complex: Caravan Mobile Home Park (109 units); Association pet rules: contact for details; Land lease (fee) with annual amount

Exterior

• Parking: Covered parking; Attached carport; Carport (2 spaces); Total 2 parking spaces
• Utilities: Water meter on property; Sewer: unknown
• Home design: Manufactured home (single section); One story; Entry at ground level; Model: Supreme 930; Manufacturer: 9881 Silvercrest IND INC; Manufacture date: July 15, 1982; Mobile home to remain
• Construction: Wood skirt; Concrete slab foundation; Manufactured home construction
• Exterior features: Enclosed, covered patio; Back yard; Close to clubhouse; Community pool

Interior

• Kitchen: Oven (gas); Gas cooktop; Microwave; Open to family room
• Flooring: Laminate floors
• Bathrooms: One full bathroom, remodeled with shower over tub
• Heating & cooling: Central heat; Central cooling; Swamp cooler(s); Central water heater
• Interior features: Ground-level entry with steps; Patio enclosed; Pantry; Updated / remodeled
• Laundry & utility: In-unit laundry (washer and dryer included); Refrigerator included; Range/oven included; Dishwasher included

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $115k. Condition is rated good.

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 $115k).
• Recommended offer: $112k (3.0% below list) — sets the bar for market timing.
• Cap rate 18.7% vs local median 2.6% in Azusa — 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 65/100 on livability (#367 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, employment B; Watch: schools D-, amenities D-, cost of living F.
• Azusa Unified (suburban): math 30% / reading 39% proficiency, ranked #874 of 1,400 in CA (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.4%/yr); 97 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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).
• This rent runs 33% of the median local income ($93k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k 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 + 5.4% rent growth), your $32k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 23y ago; this cycle's ask is 229% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

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

Recommended offer $111,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. 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: 2.19% ✓
• Cap rate: 18.75%
• Cash-on-cash: 44.48%
• DSCR: 2.98
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $94,864
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
600 W Gladstone St #107	0.00mi	1/1.0 (-1)	816 (+4%)	17mo	$99,000	$121	74

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 · 5.38% rent growth · sell at horizon

5-year hold

• IRR: 44.2%
• Equity multiple: 2.98×
• Total profit: $63,597
• Equity at exit: $17,147

10-year hold

• IRR: 51.2%
• Equity multiple: 6.59×
• Total profit: $180,010
• Equity at exit: $9,943

Cash invested: $32,200 (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 91702

• Rents YoY: 5.4%
• Active inventory: 97
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $2,517 high
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$529
• Net cashflow: $1,194

Break-even live

Break-even rent $1,006

Max offer price $115,000

Occupancy floor 48%

Sensitivity live

Price	-10% $1,273	-5% $1,233	+0% $1,194	+5% $1,154	+10% $1,114
Rent	-10% $995	-5% $1,094	+0% $1,194	+5% $1,293	+10% $1,392
Rate	-1.0pp $1,252	-0.5pp $1,223	base $1,194	+0.5pp $1,164	+1.0pp $1,134

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
745 S Lark Ellen Ave Unit ABCD Azusa, CA	2.0	2.0	1000	$2,400	$2.40	18d	1	0.34mi
328 S Azusa Ave Azusa, CA	2.0	2.5	978	$2,900	$2.97	20d	1	0.44mi
5246 N Gareloch Ave Unit B Azusa, CA	2.0	1.0	800	$2,200	$2.75	44d	1	0.48mi
230 S Azusa Ave Unit 2 Azusa, CA	2.0	1.0	900	$2,000	$2.22	44d	1	0.50mi
273 W Arrow Hwy Azusa, CA	2.0	1.0–2.0	725	$2,495	$3.44	6d	4	0.54mi
800 S Azusa Ave Azusa, CA	2.0	2.0	1000	$2,049	$2.05	8d	1	0.57mi
909 W 1st St Azusa, CA	2.0–4.0	2.0–2.5	1143	$3,275	$2.87	0d	5	0.61mi
1151 W Arrow Hwy Azusa, CA	1.0–2.0	1.0–2.0	862	$2,195	$2.54	44d	1	0.67mi
850 S Vincent Ave Azusa, CA	2.0	2.0	750	$2,145	$2.86	44d	1	0.77mi
644 W 3rd St Azusa, CA	2.0	1.0	900	$2,595	$2.88	25d	1	0.83mi
236 N San Gabriel Ave Unit 14 Azusa, CA	2.0	1.0	710	$2,100	$2.96	44d	1	0.87mi
236 N San Gabriel Ave Unit 8 Azusa, CA	2.0	1.0	600	$2,100	$3.50	25d	1	0.87mi
236 N San Gabriel Ave Unit 8 Azusa, CA	2.0	1.0	588	$2,200	$3.74	44d	1	0.87mi
610 W Hollyvale St Azusa, CA	2.0	2.0	800	$3,100	$3.88	25d	1	0.88mi
160 N Soldano Ave Azusa, CA	2.0	1.0	800	$2,500	$3.12	4d	1	0.91mi
306 N Azusa Ave Azusa, CA	2.0	1.0	850	$1,955	$2.30	5d	1	0.94mi
316 N San Gabriel Ave Unit A Azusa, CA	1.0	1.0	900	$1,700	$1.89	23d	1	0.95mi
347 N Barbara Ave Azusa, CA	3.0	1.0	1110	$3,300	$2.97	0d	1	0.98mi
4930 N Vincent Ave Covina, CA	2.0	1.0	1000	$3,200	$3.20	23d	1	1.01mi
1160 N Conwell Ave Covina, CA	1.0–3.0	1.0–2.0	1048	$2,387	$2.28	0d	12	1.07mi
777 W Covina Blvd Covina, CA	2.0–3.0	1.5–2.0	1030	$2,746	$2.67	2d	3	1.11mi
525 N San Gabriel Ave Unit 3 Azusa, CA	2.0	1.0	877	$1,995	$2.27	8d	1	1.18mi
450 N Soldano Ave Azusa, CA	1.0	1.0	552	$1,695	$3.07	16d	7	1.20mi
626 N Azusa Ave Azusa, CA	1.0–3.0	1.0–2.0	1095	$3,251	$2.97	0d	5	1.33mi
545 N Soldano Ave Azusa, CA	1.0	1.0	536	$2,200	$4.10	25d	1	1.34mi
607 N Dalton Ave Unit 1 Azusa, CA	2.0	1.0	960	$2,100	$2.19	44d	1	1.34mi
539 N Pasadena Ave Unit 1 Azusa, CA	2.0	2.0	1000	$2,700	$2.70	20d	1	1.35mi
777 S Citrus Ave #107 Azusa, CA	2.0	2.0	994	$2,650	$2.67	25d	1	1.38mi
777 S Citrus Ave Azusa, CA	1.0	1.0	709	$2,200	$3.10	13d	1	1.38mi
4459 N Roxburgh Ave Covina, CA	3.0	2.0	1024	$3,600	$3.52	16d	1	1.40mi

Listing history 15 events

1. 2026-06-21
   days on market $115,000 Active 46 DOM
2. 2026-06-18
   days on market $115,000 Active 43 DOM
3. 2026-06-17
   days on market $115,000 Active 42 DOM
4. 2026-06-16
   days on market $115,000 Active 41 DOM
5. 2026-06-15
   days on market $115,000 Active 40 DOM
6. 2026-06-13
   days on market $115,000 Active 38 DOM
7. 2026-06-13
   days on market $115,000 Active 37 DOM
8. 2026-06-09
   days on market $115,000 Active 34 DOM
9. 2026-06-08
   days on market $115,000 Active 33 DOM
10. 2026-06-07
    days on market $115,000 Active 32 DOM
11. 2026-06-04
    days on market $115,000 Active 29 DOM
12. 2026-06-03
    days on market $115,000 Active 28 DOM
13. 2026-06-02
    days on market $115,000 Active 27 DOM
14. 2026-06-01
    days on market $115,000 Active 26 DOM
15. 2026-05-31
    days on market $115,000 Active 25 DOM

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥99°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: $30,203
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$2,416
• − Management: −$2,416
• − Depreciation: −$3,345
• Taxable income: $13,283
• Est. tax owed @ 24.0%: −$3,188
• After-tax cash flow: $11,136/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 · 13 photos

Good 75/100 Cosmetic rehab

This well-maintained Silvercrest Supreme mobile home in Azusa is in good condition with minimal repairs needed. Fresh paint and clean gutters would significantly enhance its curb appeal and value.

Value-add opportunities

• Both Paint exterior — Fresh paint enhances curb appeal and can increase both resale and rental value.
• Both Clean gutters — Clean gutters prevent water damage and improve the home's appearance, benefiting both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Fresh paint enhances curb appeal and can increase both resale and rental value. ↑
• Both Clean gutters — Clean gutters prevent water damage and improve the home's appearance, benefiting 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: Azusa Unified
• NCES district ID: 0603600
• Math proficiency: 30% ▲ 2.00%
• Reading proficiency: 39% ▬ 0.00%
• Median HH income: $58,149
• Composite: 33.35/100
• National rank: #10566
• State rank: #874 of 1400 in CA

Livability — Azusa

• Score: 65/100
• State rank: #367
• US rank: #12533

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Azusa, CA
• County: Los Angeles County · 9,444,647 people
• City population: 60,903
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 60,903
• Household income: $92,683
• Rent vs Own: 40.7% rent · 59.3% own
• Severe rent burden: 1631.0

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: Predominantly Hispanic (68%)
• Race & ethnicity: Hispanic / Latino 68% Two or more races 21% White 14% Asian 13% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 59%
• Common ancestry: Lithuanian 1% Italian 1%
• Foreign-born: 33% · Canada, China, Vietnam
• Languages at home: 42% English-only · Spanish 47% Chinese 3% 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: ▼ -583.11%
• Current HPI: 422.7044
• Rent YoY: ▲ 5.38%
• 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

+17.1% since first listed

4 events — show timeline

• 2005-11-24 Listing Removed — CRMLS
• 2005-05-25 Listed $35,000 CRMLS
• 2004-04-28 Listing Removed — CRMLS
• 2003-10-31 Listed $29,900 CRMLS

Property tax history

+7.2%/yr

Latest (2025): $204 · +7.2% YoY. Source: county tax records.