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PROPERTY INFO
FACTS
- Single Family
- Built In 1957
- Price/Sqft : $464.53
- 2 Days on Market
- MLS # : CV21005243
- Updated Date : 01/09/2021 at 15:34
CONSTRUCTION
- Beds : 3
- Floor Size : 1,356 sqft
- Baths : 2 full
Listing Agent
Brian Vosberg, Broker
Listing Agent's Description
Welcome to 1052 North Dodsworth. Located on a quiet cul de sac in the heart of Covina. Featuring 1356 square feet of living space on a 7,784 square foot lot. 3 bedrooms and 1 3/4 bathrooms. Central A/C and heat. Walk in to an open floor plan with a recently renovated and painted kitchen. Fireplace in living room. Hardwood floors in living room, dining area, kitchen and hallways. Master bedroom has separate entrance with completed renovated master bathroom. Backyard features covered patio with new fencing, new marathon sod and landscaping. Centrally located near the 210, 10 and 57 freeways and near Metrolink station Ready to move in. Home is located in the award winning Charter Oaks School district.
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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: Covina
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Covina
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,510 |
| EXPENSES | Loan Payment | -$2,188 |
| Property Tax | -$650 | |
| Property Insurance | -$60 | |
| Property Management Fees | -$123 | |
|
CASH FLOW
-$511
|
||
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.
$629,900
PROJECTED PRICE
$2,510
PROJECTED RENT
0.40%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.48% |
| Appreciation Year (1-5) | 6.2% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.69% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$172,674
LOAN DETAILS
$2,188
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $157,475 |
| Loan Amount | $472,425 |
2.17
YEARS SAVED
$8,893
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,510
LIST RENT -
$1.85
LIST RENT PER SQFT
-
$2,241
COMP ESTIMATED VALUE -
$1.65
COMP AVG. RENT PER SQFT
Comps Range
-
1052 N Dodsworth Avenue Covina, CA 3
- 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1957
- Rent
- Rent Per SQFT
- $2,510
- $1.85
-
4925 N Brightview Drive Covina, CA 1
- 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1954
LEASED 01/28/20- Rent
- Rent Per SQFT
- $2,300
- $1.53
-
356 W Laxford Street Glendora, CA 2
- 4 beds 3 baths ∙ 1,400 Sqft ∙ Built 1958 4 beds 3 baths ∙ 1,400 Sqft ∙ Built 1958
LEASED 03/07/20- Rent
- Rent Per SQFT
- $2,380
- $1.70
-
457 E Benwood Street Covina, CA 4
- 3 beds 2 baths ∙ 1,514 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,514 Sqft ∙ Built 1955
LEASED 08/04/20- Rent
- Rent Per SQFT
- $2,600
- $1.72
-
1630 Bonnie Cove Avenue Glendora, CA 5
- 3 beds 2 baths ∙ 1,624 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,624 Sqft ∙ Built 1959
LEASED 07/22/19- Rent
- Rent Per SQFT
- $2,700
- $1.66
PROPERTY LISTING DETAILS
Brian Vosberg, Broker
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV21005243
Last Updated: 01/09/2021
