1441 Paso Real Ave #218 · Rowland Heights, CA 91748

$189,000

4 bd · 2.0 ba · 1,440 sqft · Manufactured public records · 60 Days on market

Built 1972 Good condition 3,500 sqft lot $131/sqft · 7% below area Est $203k · 7% under

---

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 +10.7/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +5.0/5.0
• Schools +4.5/10.0
• Condition / age +3.8/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

4 bed 2 bath clean and neat, ready to move in,

Key facts

• 3,500 sq ft lot
• Community pool
• Built 1972

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $189k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $189k).
• Recommended offer: $183k (3.0% below list) — sets the bar for market timing.
• Cap rate 18.2% vs local median 2.7% in Rowland Heights — 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 50/100 on livability (#1,123 in CA) — a working-class tenant base; expect higher turnover. Strengths: employment A; Watch: crime C-, amenities F, commute F.
• Rowland Unified (suburban): math 40% / reading 62% proficiency, ranked #134 of 517 in CA (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+10.3%/yr); 102 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $3,809/mo this rent would consume 55% of the median local household income ($83k/yr) (locally 1440% 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 $1k of loan paydown is wiped out by about $6k 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 $53k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($183k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $183,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 2.02% ✓
• Cap rate: 18.24%
• Cash-on-cash: 42.66%
• DSCR: 2.90
• GRM: 4.1

CMA / ARV

• ARV (median comp): $203,446
• List price: $189,000
• Delta: -7.10%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1441 Paso Real Ave #246	0.00mi	4/3.0	1,440 (0%)	0mo	$210,000	$146	96
1441 S Paso Real Ave #27	0.00mi	4/2.0	1,440 (0%)	6mo	$195,000	$135	95
1441 Paso Real Ave #327	0.00mi	3/2.0 (-1)	1,440 (0%)	1mo	$200,000	$139	94
1441 Paso Real Ave #203	0.00mi	4/2.0	1,493 (+4%)	4mo	$230,000	$154	91
1441 Paso Real Ave #255	0.00mi	3/2.0 (-1)	1,440 (0%)	8mo	$193,000	$134	89
1441 Paso Real Ave #119	0.00mi	3/2.0 (-1)	1,392 (-3%)	4mo	$220,000	$158	86
1441 Paso Real Ave #271	0.09mi	5/4.0 (+1)	1,440 (0%)	6mo	$238,000	$165	78
1441 Paso Real Ave #184	0.09mi	3/2.0 (-1)	1,493 (+4%)	9mo	$285,470	$191	77
1560 Otterbein Ave #12	0.56mi	3/2.0 (-1)	1,414 (-2%)	4mo	$365,000	$258	62
1560 S Otterbein Ave #58	0.56mi	3/3.0 (-1)	1,440 (0%)	8mo	$345,000	$240	58
1560 S Otterbein Ave #113	0.56mi	3/2.0 (-1)	1,568 (+9%)	4mo	$308,000	$196	51
1560 S Otterbein #138 Ave #138	0.56mi	3/2.0 (-1)	1,320 (-8%)	10mo	$300,000	$227	47

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: 44.7%
• Equity multiple: 3.07×
• Total profit: $109,282
• Equity at exit: $28,181

10-year hold

• IRR: 52.7%
• Equity multiple: 7.44×
• Total profit: $340,874
• Equity at exit: $16,341

Cash invested: $52,920 (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 91748

• Rents YoY: 10.3%
• Active inventory: 102
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $3,809 high
• Mortgage (P&I): −$991
• Tax from tax record: −$58 /mo · $697/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$800
• Net cashflow: $1,881

Break-even live

Break-even rent $1,428

Max offer price $189,000

Occupancy floor 46%

Sensitivity live

Price	-10% $1,988	-5% $1,935	+0% $1,881	+5% $1,828	+10% $1,774
Rent	-10% $1,580	-5% $1,731	+0% $1,881	+5% $2,032	+10% $2,182
Rate	-1.0pp $1,977	-0.5pp $1,929	base $1,881	+0.5pp $1,832	+1.0pp $1,783

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18617 Trot Ave Rowland Heights, CA	3.0	2.0	1251	$3,350	$2.68	18d	1	0.33mi
1809 Paso Real Ave Rowland Heights, CA	4.0	2.0	1259	$3,500	$2.78	25d	1	0.33mi
1808 Santa Ysabela Dr Rowland Heights, CA	4.0	2.0	1175	$3,500	$2.98	21d	1	0.41mi
1316 Raleo Ave Rowland Heights, CA	4.0	2.0	1200	$5,000	$4.17	15d	1	0.52mi
18417 Santar St Rowland Heights, CA	4.0	2.0	1142	$3,300	$2.89	17d	1	0.52mi
19231 Tranbarger St Rowland Heights, CA	3.0	2.0	1170	$3,200	$2.74	44d	1	0.62mi
18573 Farjardo St Rowland Heights, CA	3.0	2.0	1300	$3,750	$2.88	44d	1	0.74mi
18658 Mescalero St Rowland Heights, CA	3.0	2.0	1352	$3,800	$2.81	22d	1	0.78mi
19319 Pilario St Rowland Heights, CA	4.0	2.0	1480	$3,750	$2.53	44d	1	0.80mi
2240 Electra Ave Rowland Heights, CA	3.0	2.0	1256	$3,200	$2.55	18d	1	0.99mi
2415 Los Padres Dr Rowland Heights, CA	3.0	2.0	1120	$3,300	$2.95	17d	1	1.00mi
2243 Otterbein Ave Rowland Heights, CA	3.0	2.0	1286	$3,600	$2.80	44d	1	1.01mi
18626 Barroso St Rowland Heights, CA	3.0	2.0	1446	$3,890	$2.69	3d	1	1.04mi
2817 E Valley Blvd West Covina, CA	3.0	2.0	1050	$3,100	$2.95	44d	1	1.08mi
19530 Springport Dr Rowland Heights, CA	5.0	2.0	1600	$3,499	$2.19	44d	1	1.12mi
4037 S Ellesford Ave West Covina, CA	4.0	2.0	1790	$4,195	$2.34	1d	1	1.13mi
1862 Hollandale Ave Rowland Heights, CA	4.0	2.0	1588	$4,250	$2.68	17d	1	1.13mi
18448 La Guardia St Rowland Heights, CA	4.0	2.0	1386	$6,900	$4.98	1d	1	1.15mi
19358 Alcona St Rowland Heights, CA	4.0	2.0	1613	$3,950	$2.45	44d	1	1.16mi
684 Panorama Ln La Puente, CA	3.0	3.5	1683	$3,600	$2.14	21d	1	1.17mi
684 Panorama Ln La Puente, CA	3.0	3.5	1683	$3,600	$2.14	18d	1	1.17mi
2143 Arcdale Ave Rowland Heights, CA	3.0	2.0	1386	$3,500	$2.53	25d	1	1.20mi
19307 Oakview Ln Rowland Heights, CA	4.0	2.0	1789	$3,850	$2.15	44d	1	1.26mi
2454 Hillman Ln Rowland Heights, CA	3.0	2.5	1506	$3,800	$2.52	44d	1	1.39mi

Listing history 22 events

1. 2026-06-18
   days on market $189,000 Active 60 DOM
2. 2026-06-17
   days on market $189,000 Active 59 DOM
3. 2026-06-16
   days on market $189,000 Active 58 DOM
4. 2026-06-15
   days on market $189,000 Active 57 DOM
5. 2026-06-13
   days on market $189,000 Active 55 DOM
6. 2026-06-13
   remarks 94-char remark
7. 2026-06-13
   days on market $189,000 Active 54 DOM
8. 2026-06-09
   days on market $189,000 Active 51 DOM
9. 2026-06-08
   days on market $189,000 Active 50 DOM
10. 2026-06-07
    days on market $189,000 Active 49 DOM
11. 2026-06-04
    days on market $189,000 Active 46 DOM
12. 2026-06-03
    days on market $189,000 Active 45 DOM
13. 2026-06-02
    days on market $189,000 Active 44 DOM
14. 2026-06-01
    days on market $189,000 Active 43 DOM
15. 2026-05-31
    days on market $189,000 Active 42 DOM
16. 2026-04-19
    listed $198,000 Active 46-char remark

    Show marketing remark (46 chars)

    4 bed 2 bath clean and neat, ready to move in,

17. 2024-11-07
    soldstatus $175,000 Closed Sale 242-char remark

    Show marketing remark (242 chars)

    It's located near the rear of the park —1440 square feet with 4 nice size bedrooms. The kitchen is open to the living room. Newer wood flooring. The long carport can park 3-cars. Motivated seller! We will consider all reasonable offers.

18. 2024-10-21
    status Pending Sale 242-char remark

    Show marketing remark (242 chars)

    It's located near the rear of the park —1440 square feet with 4 nice size bedrooms. The kitchen is open to the living room. Newer wood flooring. The long carport can park 3-cars. Motivated seller! We will consider all reasonable offers.

19. 2024-10-16
    historical Active Under Contract 242-char remark

    Show marketing remark (242 chars)

    It's located near the rear of the park —1440 square feet with 4 nice size bedrooms. The kitchen is open to the living room. Newer wood flooring. The long carport can park 3-cars. Motivated seller! We will consider all reasonable offers.

20. 2024-08-23
    listed $188,000 Active 242-char remark

    Show marketing remark (242 chars)

    It's located near the rear of the park —1440 square feet with 4 nice size bedrooms. The kitchen is open to the living room. Newer wood flooring. The long carport can park 3-cars. Motivated seller! We will consider all reasonable offers.

21. 2024-08-13
    price $188,000 242-char remark

    Show marketing remark (242 chars)

    It's located near the rear of the park —1440 square feet with 4 nice size bedrooms. The kitchen is open to the living room. Newer wood flooring. The long carport can park 3-cars. Motivated seller! We will consider all reasonable offers.

22. 2024-08-13
    historical $168,000 242-char remark

    Show marketing remark (242 chars)

    It's located near the rear of the park —1440 square feet with 4 nice size bedrooms. The kitchen is open to the living room. Newer wood flooring. The long carport can park 3-cars. Motivated seller! We will consider all reasonable offers.

ⓘ 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: $697 · $58/mo
• Projected year-2 tax: $1,436 · $120/mo
• Expected delta: +$739/yr (+$62/mo · 106.1%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥99°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 13 unhealthy d/yr today · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $45,712
• − Mortgage interest: −$10,587
• − Property taxes: −$697
• − Insurance: −$945
• − Repairs & maintenance: −$3,657
• − Management: −$3,657
• − Depreciation: −$5,498
• Taxable income: $20,671
• Est. tax owed @ 24.0%: −$4,961
• After-tax cash flow: $17,616/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 · 12 photos

Good 75/100 Cosmetic rehab

This manufactured home is in good condition with cosmetic updates needed to the kitchen and bathrooms. A kitchen and bathroom renovation would significantly increase its value.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of updating
• Moderate kitchen countertops — dated and in need of updating
• Moderate kitchen appliances — dated and in need of updating
• Moderate bathroom fixtures — dated and in need of updating
• Moderate bathroom cabinetry — dated and in need of updating

Value-add opportunities

• Both kitchen renovation — modernizing the kitchen would increase both resale and rental value
• Both bathroom renovation — modernizing the bathrooms would increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of updating	Moderate	$3,000–15,000
kitchen countertops · dated and in need of updating	Moderate	$3,000–15,000
kitchen appliances · dated and in need of updating	Moderate	$3,000–15,000
bathroom fixtures · dated and in need of updating	Moderate	$3,000–15,000
bathroom cabinetry · dated and in need of updating	Moderate	$3,000–15,000
Total estimated repair cost · 5 items		$15,000–75,000

Value-add ROI direction

• Both kitchen renovation — modernizing the kitchen would increase both resale and rental value ↑
• Both bathroom renovation — modernizing the bathrooms would increase both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Rowland Unified
• NCES district ID: 0633750
• Math proficiency: 40% ▼ -1.00%
• Reading proficiency: 62% ▲ 11.00%
• Median HH income: $63,667
• Composite: 44.83/100
• National rank: #2733
• State rank: #134 of 517 in CA

Livability — Rowland Heights

• Score: 50/100
• State rank: #1123
• US rank: #25637

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rowland Heights, CA
• County: Los Angeles County · 9,444,647 people
• City population: 42,463
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 42,463
• Household income: $83,428
• Rent vs Own: 33.4% rent · 66.6% own
• Severe rent burden: 1440.0

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 Asian (59%)
• Race & ethnicity: Asian 59% Hispanic / Latino 31% Two or more races 6% White 6% Black 1%
• Hispanic origin (detail): Mexican 25%
• Foreign-born: 55% · China, Canada, South Korea
• Languages at home: 25% English-only · Chinese 37% Spanish 22% Tagalog/Filipino 5%

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: ▼ -754.24%
• Current HPI: 364.5923
• Rent YoY: ▲ 10.27%
• 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

+17.9% since first listed

7 events — show timeline

• 2026-04-19 Listed $198,000 CRMLS
• 2024-11-07 Sold (MLS) $175,000 CRMLS
• 2024-10-21 Pending — CRMLS
• 2024-10-16 Contingent — CRMLS
• 2024-08-23 Listed $188,000 CRMLS
• 2024-08-13 Price Changed $188,000 CRMLS
• 2024-08-13 Coming Soon $168,000 CRMLS

Property tax history

+106.4%/yr

Latest (2025): $697 · +106.4% YoY. Source: county tax records.