1630 W Covina Blvd #60

San Dimas, CA 91773

$129,000C+

1 bd · 2.0 ba · 940 sqft · Built 1964 · Manufactured · Active · 28 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,891/mo
• Mortgage (P&I): −$676
• Tax + insurance: −$215
• HOA: −$0
• Vac / Maint / Mgmt: −$397
• Net cashflow: $602/mo
• Annual: $7,229/yr
• Cap rate: 11.90%
• Cash-on-cash: 20.01%
• DSCR: 1.89
• 1% rule: 1.47%
• Cash to close: $36,120

Investor read

• This is a 1-bed/2.0-bath manufactured listed at $129k. Condition is rated good.
• At list price, monthly cash flow is $602 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $129k).
• It's been on market 28 days — a 2% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $127k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $892 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#192 in CA) — a middle-class / working-renter tenant base. Strengths: employment A+, commute A; Watch: cost of living F, health & safety F.
• Charter Oak Unified (suburban): math 45% / reading 55% proficiency, ranked #387 of 1,400 in CA (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Glen Oak Elementary (385 students, 60% FRL); Royal Oak Middle (622 students, 66% FRL); Charter Oak High (math 46% / reading 57%, grade D+, #312 of 1,170 statewide, top 27%, 1,329 students, 61% FRL) — zoned schools average 62% FRL vs 43% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-1.0%/yr); 110 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals lingering (median 67d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% 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).
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 8 sale attempts since 2y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $90k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $36k cash investment doubles in ~8 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 11.9% vs local median 2.6% in San Dimas — 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.

Questions for listing agent

• Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.
• 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.
• 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.