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PROPERTY INFO
FACTS
- Single Family
- Built In 1972
- Price/Sqft : $348.63
- 5 Days on Market
- MLS # : CV20261805
- Updated Date : 12/23/2020 at 13:43
CONSTRUCTION
- Beds : 3
- Floor Size : 1,133 sqft
- Baths : 1 full , 1 half
Listing Agent
Century 21 Marty Rodriguez
Listing Agent's Description
Attention first time homebuyers! This charming condo could be your future home! Located within the Woodscape Townhomes Association, this home offers a desirable location and great HOA amenities, including a pool, BBQ area, and outdoor picnic area. As you make your way into the condo, you are welcomed with a bright and open floor plan that will make you feel right at home. Natural sunlight beams throughout the living room, making it the perfect area to lounge and relax. As you make your way past the dining area, you reach the beautifully remodeled kitchen with tile flooring and Quartz countertops. The first level is complete with a lovely patio area and remodeled guest bathroom. Upstairs boasts 3 great-sized bedrooms and a remodeled hall bathroom. Ready to start making memories in your new home? Give our team a call today and be the first to schedule a private showing!
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MARKET HIGHLIGHTS
- 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)
- 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]
PRICE & RENT TRENDS
Neighborhood: Covina
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Covina
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
INCOME | Rent | $2,160 |
EXPENSES | Loan Payment | -$1,457 |
Property Tax | -$412 | |
Property Insurance | -$55 | |
HOA | -$355 | |
Property Management Fees | -$106 | |
CASH FLOW
-$225
|
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.
$395,000
PROJECTED PRICE
$2,160
PROJECTED RENT
0.55%
PROJECTED RENT / PRICE RATIO
Expense Inflation | 2.50% |
Rental Growth Year (1-5) | 4.48% |
Appreciation Year (1-5) | 6.2% |
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
$110,425
LOAN DETAILS
$1,457
MONTHLY LOAN PAYMENT
Term | 30 Years |
Interest | 4.25% |
Down Payment | $98,750 |
Loan Amount | $296,250 |
3.17
YEARS SAVED
$12,125
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,160
LIST RENT -
$1.91
LIST RENT PER SQFT
-
$1,873
COMP ESTIMATED VALUE -
$1.65
COMP AVG. RENT PER SQFT
Comps Range
PROPERTY LISTING DETAILS
Century 21 Marty Rodriguez
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV20261805
Last Updated: 12/23/2020