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1027 Diane Place West Covina, CA 91792

4 Beds 2 Baths 1,580 sqft Built 1971

$585,000

List Price

$2,430

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 1971
  • Price/Sqft : $370.25
  • 6 Days on Market
  • MLS # : CV20228325
  • Updated Date : 10/31/2020 at 07:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,580 sqft
  • Baths : 2 full
Listing Agent

Re/max Olympic

Listing Agent's Description

Great Opportunity for First time home Buyer, This located in a Desirable Neighborhood near to schools, parks, shopping centers. Set you Appointment Today. Property need TLC.

SEE MORE

MARKET HIGHLIGHTS

  • Headquarters to several Fortune 500 companies: Amgen, Farmers Insurance, Walt Disney, Avery Dennison, Activision Blizzard, CBRE Group, Edison International, Molina Healthcare, First American Financial, Pacific Life, Qualcomm and Sempra Energy (Fortune, 2018)
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
  • The area has major technology nodes of excellence: Los Angeles (Media and entertainment); Pasadena (High-tech engineering, data analytics); Riverside (Agtech, transportation/ distribution); San Diego (Healthcare, biotech, wireless communications); Irvine (Medtech, cyber security); El Segundo (Aerospace and defense IT, space transport) [BCG, 2018]
  • As part of Southern California area, Los Angeles market inherits all the benefits from the area.
  • Los Angeles has been awarded the 2028 Olympics under a funding commitment of $88 billion to upgrade the transportation infrastructure connecting disparate pockets of the metro area. This is expected to produce additional employment in the coming years. (BCG, 2018)
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
  • Southern California produces more technology PhDs per year than any other region in the country and many of the higher educated students stay within Souther California contributing to readily available workforce skills making the area more attractive than Silicon Valley (BCG, 2018)
  • Southern California has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Amar-Lark Ellen

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $159k622k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Amar-Lark Ellen

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14552941

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Valinda School Of Academics Primary Regular 533 23 5
Valinda School Of Academics Middle Regular 533 23 5
William Workman High School High Regular 1,165 50 5

Valinda School Of Academics

  • Education Level: Primary
  • # of students: 533
  • # of teachers: 23
5
GreatSchools Rating

Valinda School Of Academics

  • Education Level: Middle
  • # of students: 533
  • # of teachers: 23
5
GreatSchools Rating

William Workman High School

  • Education Level: High
  • # of students: 1,165
  • # of teachers: 50
5
GreatSchools Rating
 

$526,500$643,500$585,000

PURCHASE PRICE

$2,187$2,673$2,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,430
EXPENSES Loan Payment -$2,158
Property Tax -$606
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
-$519

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$585,000

PROJECTED PRICE

$2,430

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 7.3%
Maintenance Year (1-5) 8.00%
Vacancy 4.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$160,775

INVESTMENT

$160,775

Down Payment
$146,250
Rehab Estimate
$5,750
Closing Costs
$8,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,158

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $146,250
Loan Amount $438,750
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$9,392

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,430

    LIST RENT
  • $1.54

    LIST RENT PER SQFT
  • $2,662

    COMP ESTIMATED VALUE
  • $1.69

    COMP AVG. RENT PER SQFT
Comps Range
$2,430
1$2,4302$2,4503$2,6004$2,6005$2,695
$2,695
RENT COMPS ANALYSIS
  • 1027 Diane Place West Covina, CA 1
    • 4 beds 2 baths ∙ 1,580 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,580 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $2,430
    • $1.54
    •  
  • 412 Rimgrove Drive La Puente, CA 2
    • 4 beds 2 baths ∙ 1,420 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,420 Sqft ∙ Built 1956
    LEASED 12/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.73
    •  
  • 16702 Holton St La Puente, CA 3
    • 4 beds 2 baths ∙ 1,550 Sqft ∙ Built 1953 4 beds 2 baths ∙ 1,550 Sqft ∙ Built 1953
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.68
    •  
  • 15749 Lawnwood Street La Puente, CA 4
    • 4 beds 2 baths ∙ 1,575 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,575 Sqft ∙ Built 1954
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.65
    •  
  • 1609 Oxford Court West Covina, CA 5
    • 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 1980
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.68
    •  
PROPERTY LISTING DETAILS
Angeles Ascencio
Re/max Olympic
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20228325
Last Updated: 10/31/2020
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