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

$65,000

2 bd · 1.0 ba · 672 sqft · Land · 61 Days on market

Built 1966 $97/sqft · at area comps Est $64k · at est.

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +6.8/15.0
• Rent growth +5.0/5.0
• Schools +4.4/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• 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.

Deal economics

• At list price, monthly cash flow is $1k ($16k/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: $61k (6.0% below list) — sets the bar for market timing.
• Cap rate 31.1% 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: schools C-, crime C-, health & safety C-.
• 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.
• Market conditions: Rents rising fast (+12.9%/yr); 66 active listings in the ZIP; 12 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).

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 61 days — a 6% lower offer ($61k) 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 $61,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 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 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: 3.49% ✓
• Cap rate: 31.12%
• Cash-on-cash: 88.66%
• DSCR: 4.95
• GRM: 2.4

CMA / ARV

• ARV (median comp): $64,066
• List price: $65,000
• Delta: 1.46%
• Verdict: FAIR
• Comps: 3 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 94.9%
• Equity multiple: 5.79×
• Total profit: $87,148
• Equity at exit: $9,692

10-year hold

• IRR: 98.7%
• Equity multiple: 14.24×
• Total profit: $240,929
• 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: 66
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $2,271 high
• Mortgage (P&I): −$341
• Tax est. 1.5%: −$81 /mo · $975/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$477
• Net cashflow: $1,345

Break-even live

Break-even rent $569

Max offer price $65,000

Occupancy floor 36%

Sensitivity live

Price	-10% $1,390	-5% $1,367	+0% $1,345	+5% $1,322	+10% $1,300
Rent	-10% $1,165	-5% $1,255	+0% $1,345	+5% $1,434	+10% $1,524
Rate	-1.0pp $1,377	-0.5pp $1,361	base $1,345	+0.5pp $1,328	+1.0pp $1,311

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
• Reserves months: —
• Total cash needed: —

Rent comps 12 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	$2,499	$2.38	1d	11	0.37mi
273 W Arrow Hwy Azusa, CA	2.0	1.0–2.0	725	$2,495	$3.44	5d	4	0.63mi
1130 W San Bernardino Rd Covina, CA	1.0	1.0	600	$1,695	$2.83	45d	6	0.69mi
1130 W San Bernardino Rd Covina, CA	1.0	1.0	600	$1,695	$2.83	3d	2	0.69mi
1375 W San Bernardino Rd Covina, CA	1.0	1.0	750	$1,750	$2.33	20d	1	0.79mi
1151 W Arrow Hwy Azusa, CA	1.0–2.0	1.0–2.0	862	$2,195	$2.54	44d	1	1.07mi
850 S Vincent Ave Azusa, CA	2.0	2.0	750	$2,145	$2.86	44d	1	1.09mi
136 W Orange St Covina, CA	1.0	1.0	650	$2,200	$3.38	25d	1	1.24mi
777 S Citrus Ave Azusa, CA	1.0	1.0	709	$2,200	$3.10	12d	1	1.32mi
211 W Dexter St Unit NA Covina, CA	1.0	1.0	490	$1,700	$3.47	44d	1	1.38mi
18537 E Arrow Hwy Covina, CA	1.0–2.0	1.0–2.5	937	$2,650	$2.83	5d	7	1.39mi
18615 E Arrow Hwy Covina, CA	1.0	1.0	619	$1,976	$3.19	11d	2	1.45mi

Listing history 23 events

1. 2026-06-18
   days on market $65,000 Active 61 DOM
2. 2026-06-17
   days on market $65,000 Active 60 DOM
3. 2026-06-16
   days on market $65,000 Active 59 DOM
4. 2026-06-15
   days on market $65,000 Active 58 DOM
5. 2026-06-13
   days on market $65,000 Active 56 DOM
6. 2026-06-13
   days on market $65,000 Active 55 DOM
7. 2026-06-09
   days on market $65,000 Active 52 DOM
8. 2026-06-08
   days on market $65,000 Active 51 DOM
9. 2026-06-07
   days on market $65,000 Active 50 DOM
10. 2026-06-04
    days on market $65,000 Active 47 DOM
11. 2026-06-03
    days on market $65,000 Active 46 DOM
12. 2026-06-02
    days on market $65,000 Active 45 DOM
13. 2026-06-01
    days on market $65,000 Active 44 DOM
14. 2026-05-31
    days on market $65,000 Active 43 DOM
15. 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!

16. 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!

17. 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!

18. 2026-03-23
    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!

19. 2026-03-20
    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!

20. 2026-03-06
    listed $50,000 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!

21. 2026-02-03
    status Pending Sale
22. 2025-10-27
    listed $80,000 Active
23. 1970-07-07
    soldstatus $5,000

ⓘ 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: $27,249
• − Mortgage interest: −$3,641
• − Property taxes: −$975
• − Insurance: −$325
• − Repairs & maintenance: −$2,180
• − Management: −$2,180
• − Depreciation: −$1,891
• Taxable income: $16,058
• Est. tax owed @ 24.0%: −$3,854
• After-tax cash flow: $12,283/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: 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): 35,099
• Household income: $102,062
• Rent vs Own: 29.5% rent · 70.5% own
• Severe rent burden: 553.0

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 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%

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

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.