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1156 W Louisa Avenue West Covina, CA 91790

3 Beds 2 Baths 1,774 sqft Built 1955

$705,000

List Price

$2,690

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $397.41
  • 3 Days on Market
  • MLS # : CV21051209
  • Updated Date : 03/12/2021 at 13:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,774 sqft
  • Baths : 2 full
Listing Agent

Torres Realty Inc

Listing Agent's Description

This is a beautiful Home located in the city of West Covina built in 1955. This is a 1,774 square foot house that sits on a 7,455 square foot lot. It has 3 bedrooms and 2 bathrooms and a 2 car garage. New upgraded bathroom. Split A/C throughout the house. Roof is 5 years old. Washer and dryer stay. New fridge and stove stay. The house is close to shopping stores, restaurants and schools. West Covina Christian Elementary School, Monte Vista Elementary School and Jubilee Christian School. La Amapola Market, Cafe Valer and Boba Loca Coffee & Tea House. Hurry, Won't Last!!!!!!!!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: Freeway Corridor

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $178k622k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Freeway Corridor

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14672941

* 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
Grovecenter Elementary School Primary Regular 489 22 7
Traweek Middle School Middle Regular 849 33 5
Covina High School High Regular 1,337 52 6

Grovecenter Elementary School

  • Education Level: Primary
  • # of students: 489
  • # of teachers: 22
7
GreatSchools Rating

Traweek Middle School

  • Education Level: Middle
  • # of students: 849
  • # of teachers: 33
5
GreatSchools Rating

Covina High School

  • Education Level: High
  • # of students: 1,337
  • # of teachers: 52
6
GreatSchools Rating
 

$634,500$775,500$705,000

PURCHASE PRICE

$2,421$2,959$2,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,690
EXPENSES Loan Payment -$2,449
Property Tax -$743
Property Insurance -$70
Property Management Fees -$132
CASH FLOW
-$704

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.

$705,000

PROJECTED PRICE

$2,690

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 7.3%
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$192,575

INVESTMENT

$192,575

Down Payment
$176,250
Rehab Estimate
$5,750
Closing Costs
$10,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,449

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $176,250
Loan Amount $528,750
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$4,904

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,690

    LIST RENT
  • $1.52

    LIST RENT PER SQFT
  • $2,887

    COMP ESTIMATED VALUE
  • $1.63

    COMP AVG. RENT PER SQFT
Comps Range
$2,690
1$2,6902$2,8003$2,8004$2,8005$2,800
$2,800
RENT COMPS ANALYSIS
  • 1156 W Louisa Avenue West Covina, CA 1
    • 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 1955
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,690
    • $1.52
    •  
  • 441 N Osborn Avenue West Covina, CA 2
    • 4 beds 2 baths ∙ 1,734 Sqft ∙ Built 1953 4 beds 2 baths ∙ 1,734 Sqft ∙ Built 1953
    property image
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.61
    •  
  • 4108 N Ellen Drive Covina, CA 3
    • 3 beds 2 baths ∙ 1,741 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,741 Sqft ∙ Built 1954
    property image
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.61
    •  
  • 225 N Broadmoor Avenue West Covina, CA 4
    • 3 beds 1 baths ∙ 1,622 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,622 Sqft ∙ Built 1952
    property image
    LEASED 01/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.73
    •  
  • 1227 E Marbury Street West Covina, CA 5
    • 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 1954 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 1954
    property image
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.56
    •  
PROPERTY LISTING DETAILS
Fernando Torres
Torres Realty Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21051209
Last Updated: 03/12/2021
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