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PROPERTY INFO
FACTS
- Single Family
- Built In 1962
- Price/Sqft : $503.05
- 6 Days on Market
- MLS # : CV21007134
- Updated Date : 01/13/2021 at 10:07
CONSTRUCTION
- Beds : 4
- Floor Size : 1,640 sqft
- Baths : 2 full
Listing Agent
Re/max Masters Realty
Listing Agent's Description
*****Beautiful Single Story CALIFORNIA RANCH STYLE HOME***** Located In One Of West Covina's Most Highly Desirable Neighborhood********. Pride Of Ownership Is Apparent As You Drive Up to This Corner Home. Fall In Love With This Quality 4 Bedroom 2 Bathrooms ,Master Has Private Bathroom And His And Her Double Mirror Doors. New, Just Installed Solid Oak Wood Floors, Beautiful Double Hung Dual Pane Anderson Windows, Enjoy 2 Anderson French Sliding Glass Patio Doors As You Enter The Backyard. Gas Fireplace In Livingroom, Custom Plantation Shutters Throughout The Home. Tile Floors In Kitchen and in The Bathrooms. The Kitchen Has Custom Pull Out Cabinet Organizers, Built In Oven, Cooktop and Microwave. Indoor Roomy Laundry Area With Washer And Dryer and Utility Sink. Ceiling Fans In All Roomy Bedrooms and Kitchen. Lot Is .33 Of An Acre. With Well Gated Pool, Bricked Back Patio For Summer Nights, Nice Breeze Way With Detached Two Car Garage And Room For An R.V. Plenty Parking Space. Manicured Landscaping In Front And Back Yard. Central Air and Heat With Automatic House Attic Fan For Hot Days. Roof Is Concreate Tile With 50 yr. Transferable Warranty. Great For Entertaining Back Yard With Block Walls, Slate Entryway And Remote Electrical Security Gate For Privacy. Blocks Away From South Hills Golf Course. Walking Distance From Elementary, Jr. High and High Schools. Will Not Last.
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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)
- 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: Azusa-Cameron
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Azusa-Cameron
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,660 |
| EXPENSES | Loan Payment | -$2,866 |
| Property Tax | -$835 | |
| Property Insurance | -$67 | |
| Property Management Fees | -$130 | |
|
CASH FLOW
-$1,238
|
||
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.
$825,000
PROJECTED PRICE
$2,660
PROJECTED RENT
0.32%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.56% |
| Appreciation Year (1-5) | 5.5% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.05% |
| 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
$224,375
LOAN DETAILS
$2,866
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $206,250 |
| Loan Amount | $618,750 |
0.17
YEARS SAVED
$98
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,660
LIST RENT -
$1.62
LIST RENT PER SQFT
-
$2,804
COMP ESTIMATED VALUE -
$1.71
COMP AVG. RENT PER SQFT
Comps Range
-
1131 S Donna Beth Avenue West Covina, CA 1
- 4 beds 2 baths ∙ 1,640 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,640 Sqft ∙ Built 1962
- Rent
- Rent Per SQFT
- $2,660
- $1.62
-
1609 Oxford Court West Covina, CA 2
- 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 1980
LEASED 08/20/20- Rent
- Rent Per SQFT
- $2,695
- $1.68
-
802 S Hollenbeck Street West Covina, CA 3
- 3 beds 2 baths ∙ 1,649 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,649 Sqft ∙ Built 1977
LEASED 02/15/20- Rent
- Rent Per SQFT
- $2,700
- $1.64
-
904 S Hollenbeck Street West Covina, CA 4
- 4 beds 2 baths ∙ 1,757 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,757 Sqft ∙ Built 1955
LEASED 11/16/20- Rent
- Rent Per SQFT
- $2,950
- $1.68
-
1009 S Terri Ann Drive West Covina, CA 5
- 3 beds 2 baths ∙ 1,621 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,621 Sqft ∙ Built 1957
LEASED 10/16/20- Rent
- Rent Per SQFT
- $2,975
- $1.84
PROPERTY LISTING DETAILS
Re/max Masters Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV21007134
Last Updated: 01/13/2021
