1630 W Covina Blvd #60

San Dimas, CA 91773

$152,000C+

1 bd · 2.0 ba · 940 sqft · Built 1964 · Manufactured · Active · 136 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,850/mo
• Mortgage (P&I): −$797
• Tax + insurance: −$253
• HOA: −$0
• Vac / Maint / Mgmt: −$389
• Net cashflow: $411/mo
• Annual: $4,936/yr
• Cap rate: 9.54%
• Cash-on-cash: 11.60%
• DSCR: 1.52
• 1% rule: 1.22%
• Cash to close: $42,560

Investor read

• This is a 1-bed/2.0-bath manufactured listed at $152k. Condition is rated good.
• At list price, monthly cash flow is $411 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $152k).
• It's been on market 136 days — a 12% lower offer ($134k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $134k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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); 107 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 28d on market — plan ~3-4 weeks tenant-placement turnaround); 47% 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.
• 5 sale attempts since 2y ago; this cycle's ask has dropped $37k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $90k; list at $152k implies a 69% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 9.5% vs local median 2.7% 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

• It's been on market 136 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.