1045 N Azusa Ave. SPC 50 · Covina, CA 91722

$65,000

2 bd · 1.0 ba · 672 sqft · Land · 102 Days on market

Built 1966 Good condition $97/sqft · 10% below area Est $72k · 10% 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 +12.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +5.0/5.0
• Schools +4.4/10.0
• Condition / age +3.8/5.0
• Livability +3.6/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Priced to sell as-is (Space Rent: $1775 - Includes water, sewer, and trash). Walk into your new beautiful home at the lovely all-age community of Starlite Mobile Estates and enjoy the wonderful amenities of the community such as a pool/spa area, clubhouse area, and even a community gym! This home features a newly remodeled kitchen and restroom with granite countertops and matte patterned windows for additional privacy. This home offers plenty of security and privacy as the entrance has a thick metal screen door with a sturdy lock. Additionally, this home has hookups for laundry washer and dryer, as well as hookups for a refrigerator. There is plenty of potential to make this home custom to your liking! Includes a window Air Conditioner in the first bedroom and mini-split system in the living room. The 2nd bedroom has a pet door that leads directly into to the fenced off backyard. This property also includes 2 storage units for all your additional storage needs. Schedule your tour today and welcome home!

Key facts

• Community gym
• Granite countertops
• Garage

Tags

• COMMUNITY GYM
• NEWLY REMODELED KITCHEN
• GRANITE COUNTERTOPS
• THICK METAL SCREEN DOOR
• HOOKUPS FOR LAUNDRY WASHER
• HOOKUPS FOR REFRIGERATOR

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath land listed at $65k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $59k (9.0% below list) — sets the bar for market timing.
• Cap rate 29.1% vs local median 2.4% 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: Las Palmas Middle (802 students, 77% FRL); Northview High (1,292 students, 71% FRL) — zoned schools average 74% FRL vs 53% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+12.9%/yr); 82 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals lingering (median 36d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k 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 $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask is 30% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $5k; list at $65k implies a 1200% gain — meaningful room to come down on a strong offer.

Recommended offer $59,150 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — 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: 3.28% ✓
• Cap rate: 29.13%
• Cash-on-cash: 81.55%
• DSCR: 4.63
• GRM: 2.5

CMA / ARV

• ARV (median comp): $72,175
• List price: $65,000
• Delta: -9.94%
• Verdict: FAIR
• Comps: 4 within 2.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
804 W Grondahl Unit D	0.33mi	1/1.5 (-1)	827 (+23%)	7mo	$440,000	$532	46
16719 E Renwick Rd	1.05mi	2/1.0	630 (-6%)	15mo	$632,000	$1,003	42
777 S Citrus Ave #155	1.31mi	1/1.0 (-1)	709 (+6%)	11mo	$400,000	$564	42
777 S Citrus Ave #164	1.31mi	1/1.0 (-1)	709 (+6%)	11mo	$400,000	$564	42
777 S Citrus Ave #266	1.31mi	1/1.0 (-1)	709 (+6%)	12mo	$400,000	$564	40
1380 N Citrus Unit D-10	1.29mi	2/1.0	552 (-18%)	2mo	$63,000	$114	38
1081 W Arrow #11	0.92mi	2/1.0	600 (-11%)	10mo	$65,000	$108	38
777 S Citrus Ave #108	1.31mi	1/1.0 (-1)	709 (+6%)	18mo	$395,000	$557	36
340 S Sunset	1.25mi	2/1.0	840 (+25%)	5mo	$500,000	$595	36
1380 N CITRUS #G17	1.30mi	2/2.0	840 (+25%)	6mo	$122,000	$145	31
5238 N Roxburgh Ave	0.81mi	2/1.0	572 (-15%)	16mo	$580,000	$1,014	27
600 W Gladstone St #107	1.06mi	1/1.0 (-1)	816 (+21%)	18mo	$99,000	$121	20

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: 87.4%
• Equity multiple: 5.37×
• Total profit: $79,551
• Equity at exit: $9,692

10-year hold

• IRR: 91.7%
• Equity multiple: 13.21×
• Total profit: $222,168
• Equity at exit: $5,620

Cash invested: $18,200 (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 91722

• Rents YoY: 12.9%
• Active inventory: 82
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $2,134 high
• Mortgage (P&I): −$341
• Tax est. 1.5%: −$81 /mo · $975/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$448
• Net cashflow: $1,237

Break-even live

Break-even rent $569

Max offer price $65,000

Occupancy floor 37%

Sensitivity live

Price	-10% $1,282	-5% $1,259	+0% $1,237	+5% $1,214	+10% $1,192
Rent	-10% $1,068	-5% $1,153	+0% $1,237	+5% $1,321	+10% $1,405
Rate	-1.0pp $1,270	-0.5pp $1,253	base $1,237	+0.5pp $1,220	+1.0pp $1,203

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: $16,250
• Closing costs: $1,950
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1160 N Conwell Ave Covina, CA	1.0–3.0	1.0–2.0	1048	$2,087	$1.99	0d	8	0.40mi
273 W Arrow Hwy Azusa, CA	1.0	1.0	700	$2,100	$3.00	2d	3	0.63mi
1130 W San Bernardino Rd Covina, CA	1.0	1.0	600	$1,695	$2.83	93d	6	0.69mi
1375 W San Bernardino Rd Covina, CA	1.0	1.0	750	$1,795	$2.39	43d	1	0.79mi
1375 W San Bernardino Rd Covina, CA	1.0	1.0	750	$1,850	$2.47	23d	1	0.79mi
1375 W San Bernardino Rd Covina, CA	1.0	1.0	750	$1,695	$2.26	48d	1	0.79mi
1375 W San Bernardino Rd Covina, CA	1.0	1.0	750	$1,850	$2.47	1d	1	0.79mi
1375 W San Bernardino Rd Covina, CA	1.0	1.0	750	$1,850	$2.47	33d	1	0.79mi
1375 W San Bernardino Rd Covina, CA	1.0	1.0	750	$1,750	$2.33	69d	1	0.79mi
1375 W San Bernardino Rd Covina, CA	1.0	1.0	750	$1,850	$2.47	36d	1	0.79mi
565 E Arrow Hwy Azusa, CA	2.0	1.0	734	$2,100	$2.86	2d	4	0.88mi
747 N Azusa Ave West Covina, CA	1.0	1.0	667	$1,872	$2.81	2d	4	0.97mi
1151 W Arrow Hwy Azusa, CA	1.0–2.0	1.0–2.0	862	$2,195	$2.54	93d	1	1.07mi
850 S Vincent Ave Azusa, CA	2.0	2.0	750	$2,145	$2.86	93d	1	1.09mi
360 E Gladstone St Azusa, CA	1.0	1.0	600	$1,900	$3.17	21d	3	1.15mi
136 W Orange St Covina, CA	1.0	1.0	650	$2,200	$3.38	73d	1	1.24mi
777 S Citrus Ave Azusa, CA	1.0	1.0	709	$2,000	$2.82	3d	1	1.32mi
139 S 3rd Ave Covina, CA	1.0	1.0	450	$2,300	$5.11	48d	1	1.32mi
211 W Dexter St Covina, CA	1.0	1.0	500	$1,650	$3.30	41d	1	1.38mi
211 W Dexter St Unit NA Covina, CA	1.0	1.0	490	$1,700	$3.47	93d	1	1.38mi
18615 E Arrow Hwy Covina, CA	1.0–2.0	1.0–2.0	697	$2,305	$3.31	0d	2	1.42mi

Listing history 50 events

1. 2026-07-30
   days on market $65,000 Active 102 DOM
2. 2026-07-28
   days on market $65,000 Active 101 DOM
3. 2026-07-26
   days on market $65,000 Active 99 DOM
4. 2026-07-24
   days on market $65,000 Active 97 DOM
5. 2026-07-23
   days on market $65,000 Active 96 DOM
6. 2026-07-22
   days on market $65,000 Active 95 DOM
7. 2026-07-21
   days on market $65,000 Active 94 DOM
8. 2026-07-20
   days on market $65,000 Active 93 DOM
9. 2026-07-18
   days on market $65,000 Active 91 DOM
10. 2026-07-18
    days on market $65,000 Active 90 DOM
11. 2026-07-16
    days on market $65,000 Active 89 DOM
12. 2026-07-15
    days on market $65,000 Active 88 DOM
13. 2026-07-14
    days on market $65,000 Active 87 DOM
14. 2026-07-13
    days on market $65,000 Active 86 DOM
15. 2026-07-13
    days on market $65,000 Active 85 DOM
16. 2026-07-11
    days on market $65,000 Active 84 DOM
17. 2026-07-10
    days on market $65,000 Active 83 DOM
18. 2026-07-09
    days on market $65,000 Active 82 DOM
19. 2026-07-07
    days on market $65,000 Active 80 DOM
20. 2026-07-06
    days on market $65,000 Active 79 DOM
21. 2026-07-06
    days on market $65,000 Active 78 DOM
22. 2026-07-05
    days on market $65,000 Active 77 DOM
23. 2026-07-03
    days on market $65,000 Active 76 DOM
24. 2026-07-02
    days on market $65,000 Active 75 DOM
25. 2026-07-01
    days on market $65,000 Active 74 DOM
26. 2026-06-30
    days on market $65,000 Active 73 DOM
27. 2026-06-29
    days on market $65,000 Active 72 DOM
28. 2026-06-28
    days on market $65,000 Active 71 DOM
29. 2026-06-27
    days on market $65,000 Active 70 DOM
30. 2026-06-26
    days on market $65,000 Active 69 DOM
31. 2026-06-24
    days on market $65,000 Active 67 DOM
32. 2026-06-22
    days on market $65,000 Active 65 DOM
33. 2026-06-21
    days on market $65,000 Active 64 DOM
34. 2026-06-18
    days on market $65,000 Active 61 DOM
35. 2026-06-17
    days on market $65,000 Active 60 DOM
36. 2026-06-16
    days on market $65,000 Active 59 DOM
37. 2026-06-15
    days on market $65,000 Active 58 DOM
38. 2026-06-13
    days on market $65,000 Active 56 DOM
39. 2026-06-13
    days on market $65,000 Active 55 DOM
40. 2026-06-09
    days on market $65,000 Active 52 DOM
41. 2026-06-08
    days on market $65,000 Active 51 DOM
42. 2026-06-07
    days on market $65,000 Active 50 DOM
43. 2026-06-04
    days on market $65,000 Active 47 DOM
44. 2026-06-03
    days on market $65,000 Active 46 DOM
45. 2026-06-02
    days on market $65,000 Active 45 DOM
46. 2026-06-01
    days on market $65,000 Active 44 DOM
47. 2026-05-31
    days on market $65,000 Active 43 DOM
48. 2026-05-12
    status Active 1018-char remark

    Show marketing remark (1018 chars)

    Priced to sell as-is (Space Rent: $1775 - Includes water, sewer, and trash). Walk into your new beautiful home at the lovely all-age community of Starlite Mobile Estates and enjoy the wonderful amenities of the community such as a pool/spa area, clubhouse area, and even a community gym! This home features a newly remodeled kitchen and restroom with granite countertops and matte patterned windows for additional privacy. This home offers plenty of security and privacy as the entrance has a thick metal screen door with a sturdy lock. Additionally, this home has hookups for laundry washer and dryer, as well as hookups for a refrigerator. There is plenty of potential to make this home custom to your liking! Includes a window Air Conditioner in the first bedroom and mini-split system in the living room. The 2nd bedroom has a pet door that leads directly into to the fenced off backyard. This property also includes 2 storage units for all your additional storage needs. Schedule your tour today and welcome home!

49. 2026-04-01
    status Pending Sale 1018-char remark

    Show marketing remark (1018 chars)

    Priced to sell as-is (Space Rent: $1775 - Includes water, sewer, and trash). Walk into your new beautiful home at the lovely all-age community of Starlite Mobile Estates and enjoy the wonderful amenities of the community such as a pool/spa area, clubhouse area, and even a community gym! This home features a newly remodeled kitchen and restroom with granite countertops and matte patterned windows for additional privacy. This home offers plenty of security and privacy as the entrance has a thick metal screen door with a sturdy lock. Additionally, this home has hookups for laundry washer and dryer, as well as hookups for a refrigerator. There is plenty of potential to make this home custom to your liking! Includes a window Air Conditioner in the first bedroom and mini-split system in the living room. The 2nd bedroom has a pet door that leads directly into to the fenced off backyard. This property also includes 2 storage units for all your additional storage needs. Schedule your tour today and welcome home!

50. 2026-03-30
    price $65,000 1018-char remark

    Show marketing remark (1018 chars)

    Priced to sell as-is (Space Rent: $1775 - Includes water, sewer, and trash). Walk into your new beautiful home at the lovely all-age community of Starlite Mobile Estates and enjoy the wonderful amenities of the community such as a pool/spa area, clubhouse area, and even a community gym! This home features a newly remodeled kitchen and restroom with granite countertops and matte patterned windows for additional privacy. This home offers plenty of security and privacy as the entrance has a thick metal screen door with a sturdy lock. Additionally, this home has hookups for laundry washer and dryer, as well as hookups for a refrigerator. There is plenty of potential to make this home custom to your liking! Includes a window Air Conditioner in the first bedroom and mini-split system in the living room. The 2nd bedroom has a pet door that leads directly into to the fenced off backyard. This property also includes 2 storage units for all your additional storage needs. Schedule your tour today and welcome home!

ⓘ 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: $25,610
• − Mortgage interest: −$3,641
• − Property taxes: −$975
• − Insurance: −$325
• − Repairs & maintenance: −$2,049
• − Management: −$2,049
• − Depreciation: −$1,891
• Taxable income: $14,681
• Est. tax owed @ 24.0%: −$3,523
• After-tax cash flow: $11,318/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 · 9 photos

Good 75/100 Cosmetic rehab Est. rehab $3,360–$10,080 screening

This manufactured home is in good condition with recent renovations, offering a move-in-ready living space.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Replace AC unit — Improves comfort and energy efficiency ↑
• Both Landscaping improvements — Enhances curb appeal and value ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

Zoned Schools

Elementary Cypress Elementary Middle Las Palmas Middle High Northview High

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

B Composite livability gradescore 72/100

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 · 10,940,515 people
• City population: 81,184
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 35,099
• Household income: $102,062
• Rent vs Own: 29.5% rent · 70.5% own
• Severe rent burden: 9% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (64%)
• Race & ethnicity: Hispanic / Latino 64% Two or more races 23% Asian 15% White 14% Black 3%
• Hispanic origin (detail): Mexican 54%
• Common ancestry: Slovak 1% Iranian 1% Lithuanian 1%
• Foreign-born: 31% · Canada, China, Vietnam
• Languages at home: 45% English-only · Spanish 42% Chinese 6% Tagalog/Filipino 3%

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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: ▼ -889.26%
• Current HPI: 403.5337
• Rent YoY: ▲ 12.93%
• Metro: Los Angeles-Long Beach-Anaheim, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

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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

+1200.0% since first listed

9 events — show timeline

• 2026-05-12 Relisted — CRMLS
• 2026-04-01 Pending — CRMLS
• 2026-03-30 Price Changed $65,000 CRMLS
• 2026-03-23 Relisted — CRMLS
• 2026-03-20 Pending — CRMLS
• 2026-03-06 Listed $50,000 CRMLS
• 2026-02-03 Pending — CRMLS
• 2025-10-27 Listed $80,000 CRMLS
• 1970-07-07 Sold (Public Records) $5,000 Public Records

Property tax history

+2.8%/yr

Latest (2025): $5,367 · +1.1% YoY. Source: county tax records.