203 Benrud St · South Monrovia Island, CA 91016

$985,000

4 bd · 3.0 ba · 1,588 sqft · MultiFamily public records · 166 Days on market

Built 1951 6,048 sqft lot

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Why this score? — see what drove the D- 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 +9.7/30.0
• ARV discount +7.5/15.0
• Schools +3.9/10.0
• Rent growth +3.3/5.0
• Livability +3.1/5.0
• DSCR +2.7/10.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

A RARE Investment Opportunity! Front Unit is a Two bedroom One bath, the back unit is also 2 bedroom one bath with a roof top patio perfect for BBQ's! Second unit has a seperate entrance from the side. Garage has also been converted to a 2 bedroom 1 bath. Do not wait as this property WILL NOT LAST!

Key facts

• New sink and faucet
• Back yard area
• Remodeled with patio

Tags

• BACK YARD AREA
• REMODELED WITH PATIO
• DESIGNER VINYL FLOORING
• TILE KITCHEN CABINETS
• NEW SINK AND FAUCET
• NEW PAINTING IN ALL ROOMS

Property features AI

Finance

• Other: Rent control applies; No tenant-paid utilities listed
• Financial info: Total actual rent: $71,100; Gross scheduled income: $71,100; Net operating income: $35,740; Operating expenses: $35,360; Expenses include electric, water/sewer, insurance, trash, fuel, and taxes; Electric expense: $14,400; Water/Sewer expense: $4,200; Insurance expense: $2,000; Trash expense: $780; Fuel expense: $1,440; New taxes: $12,540; 3 leased units
• HOA & community: Street lighting; Sidewalks

Exterior

• Parking: 2 covered garage spaces; 4 uncovered parking spaces; Total 6 parking spaces
• Utilities: Public sewer; District/Public water; Single electric meter; Single gas meter; Single water meter
• Home design: Attached property; Single-story (1 story); Property faces front entry
• Construction: 2 buildings; Year built per assessor
• Exterior features: No pool; Corner lot; Level with street; Landscaped yard with lawn; Sprinkler system

Interior

• Bedrooms: Unit 1: 2 bedrooms (entry level 2); Unit 2: 2 bedrooms; Unit 3: 1 bedroom
• Bathrooms: Unit 1: 1 full bath; Unit 2: 1 full bath; Unit 3: 2 full baths
• Interior features: Front entry; One-level layout
• Laundry & utility: Laundry inside

What this means for you Summary

Snapshot

• This is a 2×2bd/1.0ba + 1×1bd/2.0ba units multifamily listed at $985k.

Deal economics

• At list price, monthly cash flow is $-648 ($-8k/yr) — negative. Per door: $-216/mo.
• To cash-flow at today's rent, offer at most $871k (11.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $725k (26.4% below list).
• Recommended offer: $725k (26.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#521 in CA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A, commute A-; Watch: schools D+, crime D+, amenities F.
• Monrovia Unified (suburban): math 39% / reading 48% proficiency, ranked #182 of 517 in CA (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.4%/yr); 71 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $7,250/mo this rent would consume 90% of the median local household income ($97k/yr) (locally 2134% 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 $7k of loan paydown is wiped out by about $30k 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.

Negotiation context

• It's been on market 166 days — a 12% lower offer ($867k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 9y ago; this cycle's ask has dropped $60k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $645k; list at $985k implies a 53% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $725,000 (26.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 166 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
10. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
11. 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.
12. 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.
13. 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: 0.74% ✗
• Cap rate: 5.50%
• Cash-on-cash: -2.82%
• DSCR: 0.87
• GRM: 11.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.36% rent growth · sell at horizon

5-year hold

• IRR: -20.6%
• Equity multiple: 0.28×
• Total profit: $-198,376
• Equity at exit: $146,867

10-year hold

• IRR: -13.2%
• Equity multiple: 0.22×
• Total profit: $-215,589
• Equity at exit: $85,165

Cash invested: $275,800 (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 91016

• Rents YoY: 3.4%
• Active inventory: 71
• Price-to-rent: 32.7×

Monthly cashflow live

• Estimated rent: $7,250 high
• Mortgage (P&I): −$5,165
• Tax from tax record: −$799 /mo · $9,590/yr
• Insurance: −$410
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,522
• Net cashflow: $-648

Break-even live

Break-even rent $8,070

Max offer price $870,607

Occupancy floor —

Sensitivity live

Price	-10% $-90	-5% $-369	+0% $-648	+5% $-926	+10% $-1,205
Rent	-10% $-1,220	-5% $-934	+0% $-648	+5% $-361	+10% $-75
Rate	-1.0pp $-152	-0.5pp $-397	base $-648	+0.5pp $-903	+1.0pp $-1,162

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$5,020
1× unit	1	2	$2,231
Total (3 units)			$7,250

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: $246,250
• Closing costs: $29,550
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2423 S Myrtle Ave Monrovia, CA	3.0	2.0	1200	$3,280	$2.73	25d	1	0.15mi
4409 Maple Ln Arcadia, CA	3.0	4.0	1750	$5,000	$2.86	44d	1	0.62mi
2558 S 10th Ave Arcadia, CA	3.0	2.0	1200	$4,000	$3.33	20d	1	0.63mi
4251 Live Oak Ave Unit 8 Arcadia, CA	3.0	3.5	1237	$3,400	$2.75	44d	1	0.79mi
4251 Live Oak Ave Arcadia, CA	3.0	4.0	1237	$3,400	$2.75	44d	1	0.79mi
4251 Live Oak Ave Unit 12 Arcadia, CA	4.0	3.5	1453	$3,900	$2.68	5d	1	0.79mi
1907 Graydon Ave Monrovia, CA	3.0	2.0	1235	$4,200	$3.40	12d	1	0.82mi
127 W Pomona Ave Monrovia, CA	3.0	1.0–2.0	898	$5,309	$5.91	0d	139	1.05mi
1625 S Magnolia Ave Monrovia, CA	1.0–3.0	1.0–2.0	1094	$5,505	$5.03	0d	49	1.08mi
521 W Duarte Rd Unit E Monrovia, CA	3.0	2.5	1236	$3,295	$2.67	25d	1	1.08mi
601 Camino Grove Ave Arcadia, CA	4.0	3.5	1496	$3,980	$2.66	2d	1	1.10mi
530 Fano St Unit E Monrovia, CA	3.0	3.0	1363	$3,595	$2.64	25d	1	1.14mi
550 Fano St Unit 104 Monrovia, CA	3.0	1.5	1050	$2,750	$2.62	44d	1	1.15mi
550 Fano St Unit 103 Monrovia, CA	3.0	1.5	1100	$2,750	$2.50	44d	1	1.15mi
1228 S 5th Ave Arcadia, CA	3.0	3.0	2007	$4,380	$2.18	13d	1	1.19mi
315 E Las Flores Ave Arcadia, CA	4.0	2.0	1923	$4,500	$2.34	44d	1	1.25mi
809 W Duarte Rd Unit C Monrovia, CA	4.0	2.5	1871	$3,900	$2.08	3d	1	1.26mi
5700 Lenore Ave Arcadia, CA	3.0	2.0	1649	$3,500	$2.12	22d	1	1.27mi
1351 S Magnolia Ave Monrovia, CA	4.0	2.5	1658	$4,300	$2.59	44d	1	1.27mi
2018 S 2nd Ave Arcadia, CA	3.0	2.0	1700	$4,200	$2.47	2d	1	1.36mi
1516 Encino Ave Unit B Monrovia, CA	3.0	2.5	1662	$3,775	$2.27	25d	1	1.45mi
407 E Duarte Rd Unit C Arcadia, CA	4.0	3.0	1968	$4,600	$2.34	2d	1	1.46mi

Listing history 2 events

1. 2026-06-01
   days on market $985,000 Active 166 DOM
2. 2026-05-31
   days on market $985,000 Active 165 DOM

ⓘ 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: $9,590 · $799/mo
• Projected year-2 tax: $9,590 · $799/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 75% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥101°F today · 20 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: $87,000
• − Mortgage interest: −$55,175
• − Property taxes: −$9,590
• − Insurance: −$4,925
• − Repairs & maintenance: −$6,960
• − Management: −$6,960
• − Depreciation: −$28,655
• Taxable loss: −$25,265
• Est. tax savings @ 24.0%: +$6,064
• After-tax cash flow: $-1,707/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: Monrovia Unified
• NCES district ID: 0625320
• Math proficiency: 39% ▼ -4.00%
• Reading proficiency: 48% ▼ -10.00%
• Median HH income: $69,032
• Composite: 39.18/100
• National rank: #4022
• State rank: #182 of 517 in CA

Livability — South Monrovia Island

• Score: 61/100
• State rank: #521
• US rank: #17543

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Monrovia Island, CA
• County: Los Angeles County · 9,444,647 people
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 41,140
• Household income: $96,540
• Rent vs Own: 52.1% rent · 47.9% own
• Severe rent burden: 2134.0

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 0.70)
• Race & ethnicity: Hispanic / Latino 43% White 30% Two or more races 21% Asian 16% Black 6%
• Hispanic origin (detail): Mexican 33% Puerto Rican 1%
• Common ancestry: Italian 1% Slovak 1% Lithuanian 1%
• Foreign-born: 24% · Canada, China, Vietnam
• Languages at home: 58% English-only · Spanish 27% Chinese 7% 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: ▼ -1140.27%
• Current HPI: 390.9169
• Rent YoY: ▲ 3.36%
• 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

+856.3% since first listed

19 events — show timeline

• 2026-05-30 Relisted — CRMLS
• 2026-04-26 Relisted — CRMLS
• 2026-04-22 Relisted — CRMLS
• 2026-04-16 Relisted — CRMLS
• 2026-02-14 Relisted — CRMLS
• 2025-10-03 Price Changed $985,000 CRMLS
• 2025-08-18 Listed $1,045,000 CRMLS
• 2019-04-26 Sold (MLS) $645,000 CRMLS
• 2019-04-26 Sold (MLS) $645,000 SDMLS
• 2019-03-06 Pending — CRMLS
• 2019-02-28 Sold (MLS) $645,000 CRMLS
• 2017-09-15 Sold (Public Records) $645,000 Public Records
• 2017-09-07 Pending — CRMLS
• 2017-08-11 Listed $689,000 CRMLS
• 2017-08-10 Listed $689,000 SDMLS
• 2003-08-05 Sold (Public Records) $360,000 Public Records
• 2003-04-10 Sold (Public Records) $250,000 Public Records
• 1985-08-01 Sold (Public Records) $103,000 Public Records
• 1985-08-01 Sold (Public Records) $103,000 Public Records

Property tax history

+4.3%/yr

Latest (2025): $9,590 · +4.3% YoY. Source: county tax records.