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1129 E Cedarbrook Street West Covina, CA 91790

3 Beds 4 Baths 1,600 sqft Built 1954

$627,000

List Price

$2,440

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1954
  • Price/Sqft : $391.88
  • 4 Days on Market
  • MLS # : WS20231775
  • Updated Date : 11/05/2020 at 12:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,600 sqft
  • Baths : 3 full , 1 half
Listing Agent

Pinnacle Real Estate Group

Listing Agent's Description

A MUST SEE HOME! This Remodeled home with lots of upgrades. New flooring, New Kitchen, freshly painted interior and exterior. There are total three and half bathrooms, two full bath are built without permits. Two car garage, big lot with a long and wide driveway which can park more cars. WILL SALE FAST.

SEE MORE

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)
  • 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)

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
Edgewood Middle School Middle Regular 593 24 4
Edgewood High School High Regular 831 33 7

Cameron Elementary School

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

Edgewood Middle School

  • Education Level: Middle
  • # of students: 593
  • # of teachers: 24
4
GreatSchools Rating

Edgewood High School

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

$564,300$689,700$627,000

PURCHASE PRICE

$2,196$2,684$2,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,440
EXPENSES Loan Payment -$2,313
Property Tax -$642
Property Insurance -$66
Property Management Fees -$120
CASH FLOW
-$701

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.

$627,000

PROJECTED PRICE

$2,440

PROJECTED RENT

0.39%

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$500k$1.0M$1.5M$2.0M

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$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$171,905

INVESTMENT

$171,905

Down Payment
$156,750
Rehab Estimate
$5,750
Closing Costs
$9,405

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,313

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $156,750
Loan Amount $470,250
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$4,202

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,440

    LIST RENT
  • $1.53

    LIST RENT PER SQFT
  • $2,640

    COMP ESTIMATED VALUE
  • $1.65

    COMP AVG. RENT PER SQFT
Comps Range
$2,440
1$2,4402$2,5503$2,5954$2,6005$2,800
$2,800
RENT COMPS ANALYSIS
  • 1129 E Cedarbrook Street West Covina, CA 1
    • 3 beds 4 baths ∙ 1,600 Sqft ∙ Built 1954 3 beds 4 baths ∙ 1,600 Sqft ∙ Built 1954
    • Rent
    • Rent Per SQFT
    •  
    • $2,440
    • $1.53
    •  
  • 1618 E Shamwood Street West Covina, CA 2
    • 3 beds 2 baths ∙ 1,577 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,577 Sqft ∙ Built 1951
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.62
    •  
  • 1305 E Larkwood Street West Covina, CA 3
    • 4 beds 3 baths ∙ 1,578 Sqft ∙ Built 1951 4 beds 3 baths ∙ 1,578 Sqft ∙ Built 1951
    LEASED 11/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.64
    •  
  • 1037 S Valinda Avenue West Covina, CA 4
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1951
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.73
    •  
  • 441 N Osborn Avenue West Covina, CA 5
    • 4 beds 2 baths ∙ 1,734 Sqft ∙ Built 1953 4 beds 2 baths ∙ 1,734 Sqft ∙ Built 1953
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.61
    •  
PROPERTY LISTING DETAILS
Lin Huang
Pinnacle Real Estate Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: WS20231775
Last Updated: 11/05/2020
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