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112 S Robin Road West Covina, CA 91791

3 Beds 2 Baths 1,094 sqft Built 1953

$585,000

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $534.73
  • 126 Days on Market
  • MLS # : TR20185925
  • Updated Date : 10/04/2020 at 05:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,094 sqft
  • Baths : 2 full
Listing Agent

Monarch Real Estate Services

Listing Agent's Description

Come see this beautiful home in the highly desired neighborhood of West Covina. Located on a quiet street with pride of ownership that shows throughout this family friendly area. Home features an open concept floor plan with 3 BR, 2 BA. Remodeled kitchen, dining room and bathrooms, new tile floors throughout the home, recessed lighting and an attached garage. This home has it all including a large private yard with citrus trees. Walking distance to school, parks. Quick access to freeways, restaurants and shopping Mall.

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: Walnut Creek

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $178k622k

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

Neighborhood: Walnut Creek

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14642941

* 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
Cameron Elementary School Primary Regular 481 20 5
Hollencrest Middle School Middle Regular 774 30 7
Edgewood High School High Regular 831 33 7

Cameron Elementary School

  • Education Level: Primary
  • # of students: 481
  • # of teachers: 20
5
GreatSchools Rating

Hollencrest Middle School

  • Education Level: Middle
  • # of students: 774
  • # of teachers: 30
7
GreatSchools Rating

Edgewood High School

  • Education Level: High
  • # of students: 831
  • # of teachers: 33
7
GreatSchools Rating
 

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

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$2,032
Property Tax -$599
Property Insurance -$54
Property Management Fees -$99
CASH FLOW
-$814

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

$1,970

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 7.8%
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-$15k-$10k-$5.0k$0.0$5.0k

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 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,032

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $146,250
Loan Amount $438,750
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$196

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $1.8

    LIST RENT PER SQFT
  • $1,961

    COMP ESTIMATED VALUE
  • $1.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,970
1$1,9702$2,3003$2,5004$2,6005$2,600
$2,600
RENT COMPS ANALYSIS
  • 112 S Robin Road West Covina, CA 1
    • 3 beds 2 baths ∙ 1,094 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,094 Sqft ∙ Built 1953
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $1.80
    •  
  • 711 S Vanderwell Avenue West Covina, CA 2
    • 3 beds 1 baths ∙ 1,309 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,309 Sqft ∙ Built 1952
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.76
    •  
  • 725 N Neil Street West Covina, CA 3
    • 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1954
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.76
    •  
  • 759 S Fircroft Avenue Covina, CA 4
    • 3 beds 1 baths ∙ 1,414 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,414 Sqft ∙ Built 1955
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.84
    •  
  • 411 S Cherrywood Street West Covina, CA 5
    • 3 beds 2 baths ∙ 1,438 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,438 Sqft ∙ Built 1953
    LEASED 09/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.81
    •  
PROPERTY LISTING DETAILS
Perla Soto
Monarch Real Estate Services
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR20185925
Last Updated: 10/04/2020
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