1441 Paso Real Ave #40 · Rowland Heights, CA 91748

$104,450

2 bd · 2.0 ba · 780 sqft · Manufactured · 334 Days on market

Built 1971 Good condition $134/sqft · 29% below area Est $148k · 29% under ↓ 44% since listing

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Why this score? — see what drove the A- 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 +15.0/15.0
• 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

LARGE PRICE REDTUCTION !! Nice Location. Great Opportunity. 2 bedrooms and 2 bathrooms. Central Air and Heating. 3 Car covered carport. Clean and Easy Maintenance Side and Back Yard. Park features a Clubhouse with Kitchen, Library, Pool tables and Pool. Walking distance to Markets, Schools, Bus Lines, Post office, Shops and more.

Key facts

• 3 parking spots
• Community pool
• Built 1971

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $104k. Condition is rated good.

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 ($3k rent vs $104k).
• Recommended offer: $92k (12.0% below list) — sets the bar for market timing.
• Cap rate 21.4% vs local median 2.6% 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.
• Zoned schools: Jellick Elementary (382 students, 82% FRL); Alvarado Intermediate (648 students, 73% FRL); John A. Rowland High (math 49% / reading 68%, grade C, #223 of 1,170 statewide, top 19%, 2,025 students, 67% FRL) — zoned schools average 74% FRL vs 56% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+10.3%/yr); 104 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• This rent runs 37% of the median local income ($83k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $722 of loan paydown is wiped out by about $3k 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 $29k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 334 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.

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 $91,916 (12.0% below list)

Questions for the listing agent

1. It's been on market 334 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — 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: 2.47% ✓
• Cap rate: 21.38%
• Cash-on-cash: 53.89%
• DSCR: 3.40
• GRM: 3.4

CMA / ARV

• ARV (median comp): $147,988
• List price: $104,450
• Delta: -29.42%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1441 S Paso Real Ave #237	0.00mi	2/2.0	768 (-2%)	18mo	$119,990	$156	82
1441 S Paso Real Ave #263	0.10mi	2/1.0	720 (-8%)	17mo	$100,000	$139	64
1441 S Paso Real Ave #32	0.00mi	3/2.0 (+1)	880 (+13%)	22mo	$166,000	$189	56
1560 Otterbein Ave #8	0.56mi	2/1.0	672 (-14%)	6mo	$150,000	$223	42

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: 57.6%
• Equity multiple: 3.75×
• Total profit: $80,378
• Equity at exit: $15,574

10-year hold

• IRR: 64.3%
• Equity multiple: 9.20×
• Total profit: $239,828
• Equity at exit: $9,031

Cash invested: $29,246 (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: 104
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $2,576 high
• Mortgage (P&I): −$548
• Tax est. 1.5%: −$131 /mo · $1,567/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$541
• Net cashflow: $1,313

Break-even live

Break-even rent $914

Max offer price $104,450

Occupancy floor 44%

Sensitivity live

Price	-10% $1,386	-5% $1,349	+0% $1,313	+5% $1,277	+10% $1,241
Rent	-10% $1,110	-5% $1,212	+0% $1,313	+5% $1,415	+10% $1,517
Rate	-1.0pp $1,366	-0.5pp $1,340	base $1,313	+0.5pp $1,286	+1.0pp $1,259

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: $26,112
• Closing costs: $3,134
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18600 Colima Rd Rowland Heights, CA	1.0–2.0	1.0	657	$2,335	$3.55	3d	17	0.29mi
18567 Colima Rd Rowland Heights, CA	1.0–2.0	1.0–2.0	845	$2,400	$2.84	5d	26	0.29mi
1439 S Jellick Ave Unit B Rowland Heights, CA	2.0	1.5	1049	$2,300	$2.19	6d	1	0.42mi
1345 Jellick Ave Rowland Heights, CA	1.0	1.0	673	$3,000	$4.46	26d	1	0.45mi
19050 Colima Rd Rowland Heights, CA	1.0–2.0	1.0–2.0	833	$2,595	$3.12	24d	2	0.45mi
18247 Via Calma #3 Rowland Heights, CA	2.0	1.0	836	$1,995	$2.39	9d	1	0.80mi
1940 Fullerton Rd Rowland Heights, CA	1.0–2.0	1.0	775	$2,265	$2.92	45d	1	0.82mi
2415 Los Padres Dr Rowland Heights, CA	3.0	2.0	1120	$3,300	$2.95	19d	1	1.00mi
2601 E Valley Blvd West Covina, CA	1.0–2.0	1.0–2.0	925	$2,650	$2.86	9d	3	1.00mi
2817 E Valley Blvd West Covina, CA	3.0	2.0	1050	$3,100	$2.95	45d	1	1.08mi
2847 Valley Blvd West Covina, CA	1.0–2.0	1.0	879	$3,040	$3.46	0d	7	1.09mi
Searls Dr Unit A Rowland Heights, CA	2.0	1.0	750	$2,600	$3.47	45d	1	1.09mi
17800 Colima Rd Rowland Heights, CA	1.0–2.0	1.0–2.0	764	$2,980	$3.90	1d	7	1.34mi

Listing history 22 events

1. 2026-06-21
   days on market $104,450 Active 334 DOM
2. 2026-06-18
   days on market $104,450 Active 331 DOM
3. 2026-06-17
   days on market $104,450 Active 330 DOM
4. 2026-06-16
   days on market $104,450 Active 329 DOM
5. 2026-06-15
   days on market $104,450 Active 328 DOM
6. 2026-06-13
   days on market $104,450 Active 326 DOM
7. 2026-06-13
   days on market $104,450 Active 325 DOM
8. 2026-06-09
   days on market $104,450 Active 322 DOM
9. 2026-06-08
   days on market $104,450 Active 321 DOM
10. 2026-06-07
    days on market $104,450 Active 320 DOM
11. 2026-06-04
    days on market $104,450 Active 317 DOM
12. 2026-06-03
    days on market $104,450 Active 316 DOM
13. 2026-06-02
    days on market $104,450 Active 315 DOM
14. 2026-06-01
    days on market $104,450 Active 314 DOM
15. 2026-05-31
    days on market $104,450 Active 313 DOM
16. 2026-04-16
    price $104,450 331-char remark

    Show marketing remark (331 chars)

    LARGE PRICE REDTUCTION !! Nice Location. Great Opportunity. 2 bedrooms and 2 bathrooms. Central Air and Heating. 3 Car covered carport. Clean and Easy Maintenance Side and Back Yard. Park features a Clubhouse with Kitchen, Library, Pool tables and Pool. Walking distance to Markets, Schools, Bus Lines, Post office, Shops and more.

17. 2026-01-23
    price $119,990 331-char remark

    Show marketing remark (331 chars)

    LARGE PRICE REDTUCTION !! Nice Location. Great Opportunity. 2 bedrooms and 2 bathrooms. Central Air and Heating. 3 Car covered carport. Clean and Easy Maintenance Side and Back Yard. Park features a Clubhouse with Kitchen, Library, Pool tables and Pool. Walking distance to Markets, Schools, Bus Lines, Post office, Shops and more.

18. 2025-11-24
    price $129,500 331-char remark

    Show marketing remark (331 chars)

    LARGE PRICE REDTUCTION !! Nice Location. Great Opportunity. 2 bedrooms and 2 bathrooms. Central Air and Heating. 3 Car covered carport. Clean and Easy Maintenance Side and Back Yard. Park features a Clubhouse with Kitchen, Library, Pool tables and Pool. Walking distance to Markets, Schools, Bus Lines, Post office, Shops and more.

19. 2025-09-18
    price $139,000 331-char remark

    Show marketing remark (331 chars)

    LARGE PRICE REDTUCTION !! Nice Location. Great Opportunity. 2 bedrooms and 2 bathrooms. Central Air and Heating. 3 Car covered carport. Clean and Easy Maintenance Side and Back Yard. Park features a Clubhouse with Kitchen, Library, Pool tables and Pool. Walking distance to Markets, Schools, Bus Lines, Post office, Shops and more.

20. 2025-08-20
    price $154,300 331-char remark

    Show marketing remark (331 chars)

    LARGE PRICE REDTUCTION !! Nice Location. Great Opportunity. 2 bedrooms and 2 bathrooms. Central Air and Heating. 3 Car covered carport. Clean and Easy Maintenance Side and Back Yard. Park features a Clubhouse with Kitchen, Library, Pool tables and Pool. Walking distance to Markets, Schools, Bus Lines, Post office, Shops and more.

21. 2025-07-22
    listed $185,000 Active 331-char remark

    Show marketing remark (331 chars)

    LARGE PRICE REDTUCTION !! Nice Location. Great Opportunity. 2 bedrooms and 2 bathrooms. Central Air and Heating. 3 Car covered carport. Clean and Easy Maintenance Side and Back Yard. Park features a Clubhouse with Kitchen, Library, Pool tables and Pool. Walking distance to Markets, Schools, Bus Lines, Post office, Shops and more.

22. 2025-07-21
    historical $185,000 331-char remark

    Show marketing remark (331 chars)

    LARGE PRICE REDTUCTION !! Nice Location. Great Opportunity. 2 bedrooms and 2 bathrooms. Central Air and Heating. 3 Car covered carport. Clean and Easy Maintenance Side and Back Yard. Park features a Clubhouse with Kitchen, Library, Pool tables and Pool. Walking distance to Markets, Schools, Bus Lines, Post office, Shops and more.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $30,915
• − Mortgage interest: −$5,851
• − Property taxes: −$1,567
• − Insurance: −$522
• − Repairs & maintenance: −$2,473
• − Management: −$2,473
• − Depreciation: −$3,039
• Taxable income: $14,990
• Est. tax owed @ 24.0%: −$3,598
• After-tax cash flow: $12,163/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 · 8 photos

Good 75/100 Cosmetic rehab

This manufactured home is in good condition with minimal repairs needed. Fresh paint and cleaning gutters can significantly enhance its curb appeal and value.

Value-add opportunities

• Both Paint exterior — Fresh paint can enhance curb appeal and increase both resale and rental value.
• Both Clean gutters — Clean gutters improve drainage and prevent water damage, enhancing both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Fresh paint can enhance curb appeal and increase both resale and rental value. ↑
• Both Clean gutters — Clean gutters improve drainage and prevent water damage, enhancing 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

-43.5% since first listed

7 events — show timeline

• 2026-04-16 Price Changed $104,450 CRMLS
• 2026-01-23 Price Changed $119,990 CRMLS
• 2025-11-24 Price Changed $129,500 CRMLS
• 2025-09-18 Price Changed $139,000 CRMLS
• 2025-08-20 Price Changed $154,300 CRMLS
• 2025-07-22 Listed $185,000 CRMLS
• 2025-07-21 Coming Soon $185,000 CRMLS