544 E Rue Royale · Covina, CA 91723

$2,388,000

None bd · None ba · — sqft · MultiFamily · 187 Days on market

Poor condition 0.61 ac lot

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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 +26.9/30.0
• DSCR +9.3/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Schools +4.4/10.0
• Rent growth +4.3/5.0
• Livability +3.6/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

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 MLS

Prime Opportunity in the Heart of Covina, minutes away from downtown. 10 & 210 Freeways, school and hospital located conveniently nearby. Zoned for high density housing, this parcel of land expands a 26,605 square foot lot. The previous structure has already been completely removed and is ready for new construction. Rue Royale offers the setting for visionary developers looking for an investment opportunity with great potential, ideal for developing 13 townhomes. Instead of buying an old apartment building, build your own brand new one. Don't miss out on your chance!

Key facts

• 26
• 605 square foot lot
• 0.61 acre lot

Tags

• ZONED FOR HIGH DENSITY HOUSING
• 26
• 605 SQUARE FOOT LOT
• PREVIOUS STRUCTURE REMOVED
• READY FOR NEW CONSTRUCTION
• INVESTMENT OPPORTUNITY

What this means for you Summary

Snapshot

• This is a multifamily listed at $2.39M. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $7k ($79k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($29k rent vs $2.39M).
• Recommended offer: $2.10M (12.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 2.3% 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: crime C-, health & safety C-, cost of living F.
• 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.
• Zoned schools: Ben Lomond Elementary (420 students, 70% FRL); Sierra Vista Middle (770 students, 64% FRL); South Hills High (1,640 students, 53% FRL).
• Market conditions: Rents rising fast (+7.2%/yr); 31 active listings in the ZIP; 40 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 $29,247/mo this rent would consume 373% of the median local household income ($94k/yr) (locally 792% 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 $17k of loan paydown is wiped out by about $72k 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 + 7.2% rent growth), your $669k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 187 days — a 12% lower offer ($2.10M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $675k; list at $2.39M implies a 254% gain — meaningful room to come down on a strong offer.

Recommended offer $2,101,440 (12.0% below list)

Questions for the listing agent

1. It's been on market 187 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. 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 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: 1.22% ✓
• Cap rate: 9.61%
• Cash-on-cash: 11.85%
• DSCR: 1.53
• GRM: 6.8

CMA / ARV

• ARV (median comp): $4,383,778,034
• List price: $2,388,000
• Delta: -99.95%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
206 N Grandview	0.16mi	8/4.0	3,072	0mo	$1,020,000	$332	80
316 E School	0.30mi	10/4.0	1,796	4mo	$870,000	$484	70
554 E Hurst St	0.32mi	8/4.0	3,464	7mo	$1,050,000	$303	66
540 N Howard St	0.39mi	4/2.0	1,450	7mo	$725,000	$500	64
270 E Badillo St	0.42mi	13/12.0	8,673	10mo	$3,150,000	$363	60
251 E Center St	0.47mi	6/5.0	2,910	7mo	$1,400,000	$481	60
331 E Puente	0.52mi	8/4.0	3,719	5mo	$1,350,000	$363	59
456 E Puente St	0.50mi	6/5.0	3,564	10mo	$1,130,000	$317	56
500 S 1st Ave	0.67mi	10/8.0	4,798	2mo	$1,820,000	$379	54
316 E Puente St	0.57mi	4/2.0	1,848	8mo	$885,000	$479	54
305 E Navilla Pl	0.64mi	8/6.0	3,672	8mo	$1,475,000	$402	51
215 E Navilla Pl	0.69mi	7/6.0	4,130	9mo	$1,200,000	$291	48

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 · 7.23% rent growth · sell at horizon

5-year hold

• IRR: 6.0%
• Equity multiple: 1.24×
• Total profit: $163,754
• Equity at exit: $356,059

10-year hold

• IRR: 18.9%
• Equity multiple: 2.89×
• Total profit: $1,266,987
• Equity at exit: $206,471

Cash invested: $668,640 (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 91723

• Rents YoY: 7.2%
• Active inventory: 31
• Price-to-rent: 88.5×

Monthly cashflow live

• Estimated rent: $29,247 high
• Mortgage (P&I): −$12,523
• Tax est. 1.5%: −$2,985 /mo · $35,820/yr
• Insurance: −$995
• HOA: −$0
• Vacancy / Maint / Mgmt: −$6,142
• Net cashflow: $6,602

Break-even live

Break-even rent $20,890

Max offer price $2,388,000

Occupancy floor 72%

Sensitivity live

Price	-10% $8,252	-5% $7,427	+0% $6,602	+5% $5,777	+10% $4,952
Rent	-10% $4,292	-5% $5,447	+0% $6,602	+5% $7,757	+10% $8,913
Rate	-1.0pp $7,805	-0.5pp $7,210	base $6,602	+0.5pp $5,983	+1.0pp $5,354

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

Units	Beds	Baths	Est. rent
▸ 13× units	2	1	$29,250
Total (13 units)			$29,247

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: $597,000
• Closing costs: $71,640
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
545 E Rue Royale St Apt 20 Covina, CA	2.0	1.5	—	$2,400	—	20d	1	0.06mi
367 N Prospero Dr Covina, CA	2.0	2.0	1000	$1,950	$1.95	9d	1	0.08mi
628 E Italia St Unit 3 Covina, CA	2.0	1.5	900	$1,850	$2.06	9d	1	0.11mi
417 E Badillo St Covina, CA	2.0	1.5	1150	$2,550	$2.22	21d	1	0.24mi
111 S Barranca Ave Covina, CA	1.0	1.0	687	$2,195	$3.20	5d	1	0.24mi
111 S Barranca Ave Covina, CA	2.0	1.0	957	$2,445	$2.55	14d	1	0.24mi
111 S Barranca Ave Covina, CA	1.0	1.0	687	$2,035	$2.96	17d	1	0.24mi
111 S Barranca Ave Covina, CA	1.0	1.0	687	$2,035	$2.96	45d	1	0.24mi
345 E College St Covina, CA	2.0	2.0	1300	$2,795	$2.15	26d	1	0.28mi
461 E Algrove St Unit Algrove Covina, CA	2.0	1.0	—	$1,975	—	0d	1	0.29mi
364 E Badillo St Unit 368 1/2 Covina, CA	1.0	1.0	592	$1,725	$2.91	3d	1	0.32mi
364 E Badillo St Unit 372 Covina, CA	1.0	1.0	592	$1,750	$2.96	14d	1	0.32mi
554 E Hurst St Unit 2 Covina, CA	2.0	1.0	866	$2,650	$3.06	6d	1	0.35mi
749 Marmalade Pl Covina, CA	3.0	2.0	1620	$3,600	$2.22	3d	1	0.36mi
501 E Hurst St Unit 2 Covina, CA	2.0	1.0	866	$1,900	$2.19	4d	1	0.38mi
826 N Barranca Ave Unit 13 Covina, CA	1.0	1.0	—	$1,900	—	26d	1	0.41mi
826 N Barranca Ave Covina, CA	1.0–2.0	1.0–2.0	762	$2,295	$3.01	45d	2	0.41mi
826 N Barranca Ave Apt A Covina, CA	1.0	1.0	—	$1,900	—	45d	1	0.41mi
514 E Cypress St Covina, CA	1.0	1.0	—	$1,900	—	45d	1	0.44mi
514 E Cypress St Covina, CA	1.0	1.0	—	$1,900	—	26d	1	0.44mi
321 S San Jose Ave Covina, CA	2.0	1.5	990	$2,595	$2.62	0d	2	0.44mi
445 E Puente St Covina, CA	2.0	1.0	992	$2,900	$2.92	22d	1	0.45mi
255 E Center St Covina, CA	1.0	1.0	625	$2,195	$3.51	9d	1	0.45mi
530 E Cypress St Unit 08 Covina, CA	2.0	1.0	—	$2,149	—	26d	1	0.47mi
409 E Puente St Covina, CA	3.0	2.0	1600	$3,095	$1.93	26d	1	0.47mi
253 E Center St Covina, CA	1.0	1.0	625	$2,295	$3.67	9d	1	0.47mi
320 S 1st Ave Covina, CA	2.0	2.0	1090	$2,595	$2.38	19d	1	0.50mi
959 E Edgecomb St Covina, CA	3.0	2.0	1335	$5,000	$3.75	4d	1	0.53mi
316 Orange Blossom Covina, CA	3.0	4.0	1610	$3,650	$2.27	0d	1	0.55mi
216 S Grand Ave Covina, CA	2.0	2.0	—	$2,275	—	4d	1	0.59mi
370 E Navilla Pl Unit 370-10 Covina, CA	1.0	1.0	—	$1,750	—	45d	1	0.60mi
228 E Puente St Unit 230 Covina, CA	2.0	1.0	1080	$2,550	$2.36	18d	1	0.61mi
707 N Park Ave Covina, CA	2.0	2.0	900	$2,900	$3.22	45d	1	0.62mi
265 E Navilla Pl Unit 206 Covina, CA	1.0	1.0	750	$1,695	$2.26	26d	1	0.63mi
306 1/2 E Navilla Pl Unit 306 Covina, CA	1.0	1.0	—	$1,785	—	45d	1	0.64mi
255 E Navilla Pl Unit 255-A Covina, CA	2.0	1.0	—	$2,100	—	4d	1	0.64mi
255 E Navilla Pl Unit 255-F Covina, CA	1.0	1.0	—	$1,650	—	5d	1	0.64mi
136 W Orange St Covina, CA	1.0	1.0	650	$2,200	$3.38	26d	1	0.65mi
532 Stewart Dr Covina, CA	2.0	1.0	800	$2,600	$3.25	9d	1	0.67mi
242 E Navilla Pl Unit 248 Covina, CA	1.0	1.0	650	$1,695	$2.61	23d	1	0.67mi

Listing history 23 events

1. 2026-06-21
   days on market $2,388,000 Active 187 DOM
2. 2026-06-18
   days on market $2,388,000 Active 184 DOM
3. 2026-06-17
   days on market $2,388,000 Active 183 DOM
4. 2026-06-16
   days on market $2,388,000 Active 182 DOM
5. 2026-06-15
   days on market $2,388,000 Active 181 DOM
6. 2026-06-13
   days on market $2,388,000 Active 179 DOM
7. 2026-06-13
   days on market $2,388,000 Active 178 DOM
8. 2026-06-09
   days on market $2,388,000 Active 175 DOM
9. 2026-06-08
   days on market $2,388,000 Active 174 DOM
10. 2026-06-07
    days on market $2,388,000 Active 173 DOM
11. 2026-06-04
    days on market $2,388,000 Active 170 DOM
12. 2026-06-03
    days on market $2,388,000 Active 169 DOM
13. 2026-06-02
    days on market $2,388,000 Active 168 DOM
14. 2026-06-01
    days on market $2,388,000 Active 167 DOM
15. 2026-05-31
    days on market $2,388,000 Active 166 DOM
16. 2025-12-16
    listed $2,388,000 Active 579-char remark

    Show marketing remark (579 chars)

    Prime Opportunity in the Heart of Covina, minutes away from downtown. 10 & 210 Freeways, school and hospital located conveniently nearby. Zoned for high density housing, this parcel of land expands a 26,605 square foot lot. The previous structure has already been completely removed and is ready for new construction. Rue Royale offers the setting for visionary developers looking for an investment opportunity with great potential, ideal for developing 13 townhomes. Instead of buying an old apartment building, build your own brand new one. Don't miss out on your chance!

17. 2025-09-17
    historical
18. 2025-08-13
    listed $2,980,000 Active
19. 2025-05-07
    soldstatus $675,000 Closed Sale
20. 2025-02-12
    status Pending Sale
21. 2025-02-01
    historical Active Under Contract
22. 2025-02-01
    price $650,000
23. 2025-01-26
    listed $200,000 Active

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

Taxation est. · year 1

• Rental income: $350,964
• − Mortgage interest: −$133,765
• − Property taxes: −$35,820
• − Insurance: −$11,940
• − Repairs & maintenance: −$28,077
• − Management: −$28,077
• − Depreciation: −$69,469
• Taxable income: $43,816
• Est. tax owed @ 24.0%: −$10,516
• After-tax cash flow: $68,711/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 · 4 photos

Poor 20/100 Gut rehab

This property is in a state of complete disrepair and requires extensive renovation. It offers a unique opportunity for developers to build 13 townhomes on a 26,605 square foot lot.

Repairs flagged

• Major roof — No visible roof
• Major exterior siding — No visible exterior siding
• Major interior walls — No visible interior walls

Value-add opportunities

• Both New construction of 13 townhomes — High potential for development and increased property value
• Both Landscaping and curb appeal improvements — Enhances visual appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · No visible roof	Major	$15,000–50,000
exterior siding · No visible exterior siding	Major	$15,000–50,000
interior walls · No visible interior walls	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both New construction of 13 townhomes — High potential for development and increased property value ↑
• Both Landscaping and curb appeal improvements — Enhances visual appeal and property 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): 17,733
• Household income: $94,167
• Rent vs Own: 56.1% rent · 43.9% own
• Severe rent burden: 792.0

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 0.55)
• Race & ethnicity: Hispanic / Latino 63% Two or more races 22% White 19% Asian 11% Black 4% Native American 1%
• Hispanic origin (detail): Mexican 52% Cuban 1%
• Common ancestry: Lithuanian 1% Russian 1% Iranian 1%
• Foreign-born: 22% · Canada, China, Vietnam
• Languages at home: 56% English-only · Spanish 33% Chinese 3% Tagalog/Filipino 2%

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: ▼ -540.18%
• Current HPI: 426.3313
• Rent YoY: ▲ 7.23%
• 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

+1094.0% since first listed

8 events — show timeline

• 2025-12-16 Listed $2,388,000 CRMLS
• 2025-09-17 Listing Removed — CRMLS
• 2025-08-13 Listed $2,980,000 CRMLS
• 2025-05-07 Sold (MLS) $675,000 CRMLS
• 2025-02-12 Pending — CRMLS
• 2025-02-01 Contingent — CRMLS
• 2025-02-01 Price Changed $650,000 CRMLS
• 2025-01-26 Listed $200,000 CRMLS