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1122 E Dover Street Glendora, CA 91740

3 Beds 2 Baths 1,269 sqft Built 1958

$615,000

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 1958
  • Price/Sqft : $484.63
  • 7 Days on Market
  • MLS # : CV20227291
  • Updated Date : 11/02/2020 at 08:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,269 sqft
  • Baths : 2 full
Listing Agent

Capital & Influence

Listing Agent's Description

Beautiful 3 Bedroom 2 Bathroom Glendora home near freeways, schools, shopping, restaurants and entertainment venues. Recently upgraded kitchen with quartz counter tops, sink, new paint and recessed lighting. New vinyl flooring has recently been installed. A new Water Heater is less than 1 year old. Copper Plumbing throughout the home from the street to the fixtures as well as a PVC sewer line from the house to the street. A 30 year roof was installed 2 years ago. This home has 1 bedroom and a 3/4 bath on the west side of the house (shower upgraded with beautiful stone/tile) and 2 Bedrooms and a Full Bath on the east side. It has a low maintenance back yard. Large enclosed patio off the living room that would be great for a hobby room, game room, storage or guest area. Also many extra electrical outlets in the garage and in the front and back yards. Also has Central A/C and Heating with a complete rewiring of the entire house and a new 200AMP electrical control panel. Dual pane windows throughout except one of the bathrooms. Security Screen Door on the front door. Plenty of storage space and workshop area in the garage. There's also kitchen access directly from the 2 car garage making hauling in groceries a piece of cake! 3 entry point into the back yard, one from the back of the garage and 2 from the enclosed patio.

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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: 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
Willow Elementary School Primary Regular 366 15 8
Willow Elementary School Middle Regular 366 15 8
Charter Oak High School High Regular 1,735 61 6

Willow Elementary School

  • Education Level: Primary
  • # of students: 366
  • # of teachers: 15
8
GreatSchools Rating

Willow Elementary School

  • Education Level: Middle
  • # of students: 366
  • # of teachers: 15
8
GreatSchools Rating

Charter Oak High School

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

$553,500$676,500$615,000

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$2,269
Property Tax -$636
Property Insurance -$58
Property Management Fees -$112
CASH FLOW
-$786

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.

$615,000

PROJECTED PRICE

$2,290

PROJECTED RENT

0.37%

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$1.8M

PROJECTED ANNUAL CASH FLOW

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

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$168,725

INVESTMENT

$168,725

Down Payment
$153,750
Rehab Estimate
$5,750
Closing Costs
$9,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,269

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $153,750
Loan Amount $461,250
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,401

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $1.8

    LIST RENT PER SQFT
  • $2,284

    COMP ESTIMATED VALUE
  • $1.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2903$2,4954$2,5005$2,695
$2,695
RENT COMPS ANALYSIS
  • 1122 E Dover Street Glendora, CA 2
    • 3 beds 2 baths ∙ 1,269 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,269 Sqft ∙ Built 1958
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $1.80
    •  
  • 750 Claraday Street Glendora, CA 1
    • 3 beds 3 baths ∙ 1,231 Sqft ∙ Built 1977 3 beds 3 baths ∙ 1,231 Sqft ∙ Built 1977
    LEASED 05/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.79
    •  
  • 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
    •  
  • 708 Ivy Street Glendora, CA 4
    • 3 beds 2 baths ∙ 1,417 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,417 Sqft ∙ Built 1961
    LEASED 09/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.76
    •  
  • 1207 Heather Street Glendora, CA 5
    • 3 beds 2 baths ∙ 1,479 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,479 Sqft ∙ Built 1965
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.82
    •  
PROPERTY LISTING DETAILS
Layne Davis
Capital & Influence
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20227291
Last Updated: 11/02/2020
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