1817 2nd St · Duarte, CA 91010

$8,465,000

53 bd · 34.0 ba · 23,917 sqft · MultiFamily public records · 28 Days on market

Built 1966 1.20 ac lot

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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
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Schools +3.4/10.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 30 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

1817 2nd Street is a 30-unit multifamily community located in Duarte, California. The offering represents a rare opportunity to acquire a sizable apartment community in a tightly held submarket, with no multifamily properties currently listed for sale in Duarte and no Class B or Class C multifamily sales recorded in the city during 2025 or year-to-date 2026. Built in 1966 and situated on a 1.20-acre parcel, the property offers a desirable unit mix weighted toward larger floor plans, with 21 of the 30 units configured as 2 and 3-bedroom residences. The community features a strong amenity package that includes gated access, a swimming pool, an on-site laundry facility, and ample on-site parki

Key facts

• Gated access
• Recreation room
• Swimming pool

Tags

• GATED ACCESS
• SWIMMING POOL
• ON-SITE LAUNDRY FACILITY
• AMPLE ON-SITE PARKING
• RECREATION ROOM
• IN-UNIT LAUNDRY HOOKUPS

Property features AI

Finance

• Other: Operating expense listed as $285,222; Other income listed as $6,000
• Financial info: Total building area listed as 23,917; Total of 30 units; Gross scheduled income: $698,184; Gross operating income: $677,238; Gross income: $704,184; Net operating income: $398,016; Gross multiplier: 12.02; Vacancy allowance rate: 3% (allowance $20,946); Operating expenses total: $285,222 (includes insurance, maintenance, utilities, trash, gardener, new taxes)

Exterior

• Parking: 30 covered carport spaces; 24 uncovered parking spaces; Total of 54 parking spaces
• Utilities: Public sewer; District/public water; Separate gas meters for 30 units; Separate electric meters for 30 units; One separate water meter
• Home design: Community apartment property; Two-story building; No accessory dwelling unit
• Construction: One building; Year built per assessor
• Exterior features: Community pool; Level lot with street frontage; Gutters, curbs, street lighting and sidewalks in the community

Interior

• Kitchen: No specific appliance details provided
• Bedrooms: Some units with 3 bedrooms; Some units with 2 bedrooms; Some units with 1 bedroom
• Bathrooms: Units with 2 total baths (including 1 full and 1 half); Units with 1 full bath
• Interior features: First-level entry; Two levels
• Laundry & utility: Shared community laundry

What this means for you Summary

Snapshot

• This is a 30 × 53-bed/31.0-bath units multifamily listed at $8.46M.

Deal economics

• At list price, monthly cash flow is $39k ($462k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($116k rent vs $8.46M).
• Recommended offer: $8.34M (1.5% below list) — sets the bar for market timing.
• Cap rate 11.8% vs local median 3.0% in Duarte — 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 76/100 on livability (#97 in CA, #3,529 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: health & safety D, cost of living F.
• Duarte Unified (suburban): math 31% / reading 44% proficiency, ranked #241 of 517 in CA (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-2.5%/yr); 37 active listings in the ZIP; solid renter incomes; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $115,718/mo this rent would consume 1352% of the median local household income ($103k/yr) (locally 844% 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 $59k of loan paydown is wiped out by about $254k 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 + 0.0% rent growth), your $2.37M cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($8.34M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y 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.
• Current owner paid $2.60M; list at $8.46M implies a 226% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $8,338,025 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.37% ✓
• Cap rate: 11.75%
• Cash-on-cash: 19.51%
• DSCR: 1.87
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 8.3%
• Equity multiple: 1.31×
• Total profit: $741,236
• Equity at exit: $1,262,159

10-year hold

• IRR: 14.9%
• Equity multiple: 2.05×
• Total profit: $2,487,566
• Equity at exit: $731,898

Cash invested: $2,370,200 (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 91010

• Rents YoY: -2.5%
• Active inventory: 37
• Price-to-rent: 182.9×

Monthly cashflow live

• Estimated rent: $115,718 medium
• Mortgage (P&I): −$44,391
• Tax from tax record: −$4,973 /mo · $59,671/yr
• Insurance: −$3,527
• HOA: −$0
• Vacancy / Maint / Mgmt: −$24,301
• Net cashflow: $38,526

Break-even live

Break-even rent $66,951

Max offer price $8,465,000

Occupancy floor 62%

30-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 30× units	53	31	$115,710
Total (30 units)			$115,718

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: $2,116,250
• Closing costs: $253,950
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $8,465,000 Active 28 DOM
2. 2026-06-17
   days on market $8,465,000 Active 27 DOM
3. 2026-06-16
   days on market $8,465,000 Active 26 DOM
4. 2026-06-15
   days on market $8,465,000 Active 25 DOM
5. 2026-06-13
   days on market $8,465,000 Active 23 DOM
6. 2026-06-13
   days on market $8,465,000 Active 22 DOM
7. 2026-06-09
   days on market $8,465,000 Active 19 DOM
8. 2026-06-08
   days on market $8,465,000 Active 18 DOM
9. 2026-06-07
   days on market $8,465,000 Active 17 DOM
10. 2026-06-04
    days on market $8,465,000 Active 14 DOM
11. 2026-06-03
    days on market $8,465,000 Active 13 DOM
12. 2026-06-02
    days on market $8,465,000 Active 12 DOM
13. 2026-06-01
    days on market $8,465,000 Active 11 DOM
14. 2026-05-31
    days on market $8,465,000 Active 10 DOM
15. 2026-05-21
    listed $8,465,000 Active
16. 2023-12-03
    historical $1,995
17. 2023-10-21
    price $1,995
18. 2023-10-14
    listed $2,095
19. 2020-08-03
    listed Active
20. 2003-09-17
    soldstatus $2,600,020
21. 1989-10-20
    soldstatus $2,200,000

ⓘ 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: $59,671 · $4,973/mo
• Projected year-2 tax: $64,334 · $5,361/mo
• Expected delta: +$4,663/yr (+$389/mo · 7.8%)

ⓘ 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 6/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥100°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 12 unhealthy d/yr today · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $1,388,616
• − Mortgage interest: −$474,172
• − Property taxes: −$59,671
• − Insurance: −$42,325
• − Repairs & maintenance: −$111,089
• − Management: −$111,089
• − Depreciation: −$246,255
• Taxable income: $344,016
• Est. tax owed @ 24.0%: −$82,564
• After-tax cash flow: $379,751/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: Duarte Unified
• NCES district ID: 0611520
• Math proficiency: 31% ▼ -10.00%
• Reading proficiency: 44% ▼ -11.00%
• Median HH income: $63,411
• Composite: 33.66/100
• National rank: #5392
• State rank: #241 of 517 in CA

Livability — Duarte

• Score: 76/100
• State rank: #97
• US rank: #3529

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Duarte, CA
• County: Los Angeles County · 9,444,647 people
• City population: 27,589
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 27,589
• Household income: $102,705
• Rent vs Own: 39.0% rent · 61.0% own
• Severe rent burden: 844.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: Hispanic / Latino 56% Two or more races 21% White 20% Asian 16% Black 5% Native American 1%
• Hispanic origin (detail): Mexican 42%
• Common ancestry: Lithuanian 2% Slovak 1% Romanian 1%
• Foreign-born: 33% · Canada, China, South Korea
• Languages at home: 42% English-only · Spanish 42% Chinese 6% Tagalog/Filipino 4%

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: ▼ -790.18%
• Current HPI: 381.0753
• Rent YoY: ▼ -2.46%
• 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

+284.8% since first listed

7 events — show timeline

• 2026-05-21 Listed $8,465,000 CRMLS
• 2023-12-03 Rental Removed $1,995 APPFOLIO
• 2023-10-21 Price Changed $1,995 APPFOLIO
• 2023-10-14 Listed for Rent $2,095 APPFOLIO
• 2020-08-03 Listed — TheMLS
• 2003-09-17 Sold (Public Records) $2,600,020 Public Records
• 1989-10-20 Sold (Public Records) $2,200,000 Public Records

Property tax history

+2.3%/yr

Latest (2025): $59,671 · +5.1% YoY. Source: county tax records.