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PROPERTY INFO
FACTS
- Single Family
- Built In 1953
- Price/Sqft : $548.45
- 5 Days on Market
- MLS # : TR21033695
- Updated Date : 02/19/2021 at 14:50
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.
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MARKET HIGHLIGHTS
- 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)
- 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)
- 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]
- Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
PRICE & RENT TRENDS
Neighborhood: Walnut Creek
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Walnut Creek
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,270 |
| EXPENSES | Loan Payment | -$2,084 |
| Property Tax | -$615 | |
| Property Insurance | -$54 | |
| Property Management Fees | -$111 | |
|
CASH FLOW
-$594
|
||
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.
$599,999
PROJECTED PRICE
$2,270
PROJECTED RENT
0.38%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$164,750
LOAN DETAILS
$2,084
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $150,000 |
| Loan Amount | $449,999 |
1.42
YEARS SAVED
$4,329
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,270
LIST RENT -
$2.07
LIST RENT PER SQFT
-
$1,961
COMP ESTIMATED VALUE -
$1.79
COMP AVG. RENT PER SQFT
Comps Range
-
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
- $2,270
- $2.07
-
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
Monarch Real Estate Services
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: TR21033695
Last Updated: 02/19/2021
