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106 W Payson Street Glendora, CA 91740

4 Beds 2 Baths 1,460 sqft Built 1967

$599,000

List Price

$2,530

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1967
  • Price/Sqft : $410.27
  • 4 Days on Market
  • MLS # : CV20223821
  • Updated Date : 10/31/2020 at 07:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,460 sqft
  • Baths : 2 full
Listing Agent

Re/max Masters Realty

Listing Agent's Description

FIRST TIME ON MARKET…A pride of ownership. Beautiful single story home located in a highly desired area. This is a very open floor plan with lots of natural light throughout. It features 4 bedrooms, 2 bathrooms. Brand new front door. Living room with Fireplace and overlooking the pool. Well-maintained and open concept kitchen. Private backyard with pool perfect for family entertainment. Fenced large front-yard. 2 car attached garage. Walking distance to schools. Close to markets, restaurants, bank, shopping centers . This home will sell quickly as it is centrally located with easy access to 210 and 10 Freeways and only 20 minutes to downtown L.A.

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: Glendora

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Glendora

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $16233697

* 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
Washington Elementary School Primary Regular 470 20 8
Washington Elementary School Middle Regular 470 20 8
Charter Oak High School High Regular 1,735 61 6

Washington Elementary School

  • Education Level: Primary
  • # of students: 470
  • # of teachers: 20
8
GreatSchools Rating

Washington Elementary School

  • Education Level: Middle
  • # of students: 470
  • # of teachers: 20
8
GreatSchools Rating

Charter Oak High School

  • Education Level: High
  • # of students: 1,735
  • # of teachers: 61
6
GreatSchools Rating
 

$539,100$658,900$599,000

PURCHASE PRICE

$2,277$2,783$2,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,530
EXPENSES Loan Payment -$2,210
Property Tax -$608
Property Insurance -$62
Property Management Fees -$124
CASH FLOW
-$475

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.

$599,000

PROJECTED PRICE

$2,530

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 5.9%
Maintenance Year (1-5) 8.00%
Vacancy 5.05%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,485

INVESTMENT

$164,485

Down Payment
$149,750
Rehab Estimate
$5,750
Closing Costs
$8,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,210

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $149,750
Loan Amount $449,250
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$12,938

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,530

    LIST RENT
  • $1.73

    LIST RENT PER SQFT
  • $2,511

    COMP ESTIMATED VALUE
  • $1.72

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3953$2,4954$2,5005$2,530
$2,530
RENT COMPS ANALYSIS
  • 106 W Payson Street Glendora, CA 5
    • 4 beds 2 baths ∙ 1,460 Sqft ∙ Built 1967 4 beds 2 baths ∙ 1,460 Sqft ∙ Built 1967
    • Rent
    • Rent Per SQFT
    •  
    • $2,530
    • $1.73
    •  
  • 20292 E Arrow Covina, CA 1
    • 4 beds 2 baths ∙ 1,353 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,353 Sqft ∙ Built 1980
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.63
    •  
  • 401 E Linfield Street Glendora, CA 2
    • 4 beds 2 baths ∙ 1,354 Sqft ∙ Built 1957 4 beds 2 baths ∙ 1,354 Sqft ∙ Built 1957
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.77
    •  
  • 546 Crown Street Glendora, CA 3
    • 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 1962
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.83
    •  
  • 326 E Linfield Street Glendora, CA 4
    • 4 beds 2 baths ∙ 1,511 Sqft ∙ Built 1957 4 beds 2 baths ∙ 1,511 Sqft ∙ Built 1957
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.65
    •  
PROPERTY LISTING DETAILS
Jenny Xu
Re/max Masters Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20223821
Last Updated: 10/31/2020
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