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11620 Hallwood Drive El Monte, CA 91732

4 Beds 3 Baths 1,633 sqft Built 1988

$590,000

List Price

$2,700

$2.5K - $3K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1988
  • Price/Sqft : $361.30
  • 6 Days on Market
  • MLS # : TR20223780
  • Updated Date : 10/31/2020 at 08:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,633 sqft
  • Baths : 3 full
Listing Agent

Mcleod & Associates

Listing Agent's Description

Absolutely gorgeous, remodeled home located in a safe, private & gated community of only 6 homes in North El Monte, situated along a beautifully tree lined neighborhood street. Move in ready & fully upgraded, this beautiful 2-story, 4 bedroom, 2.5 bath property boasts a spacious back yard. Enter its designer door to an open & airy floor plan with recessed lighting & upgraded flooring throughout. Continue thru the inviting living room with a stone fireplace that opens up to the dining room which is adjacent to an equally fully remodeled kitchen, complete with quartz counter tops, designer cabinetry & all upgraded stainless appliances including a dual oven Samsung stove. As you walk upstairs, you are greeted with upgraded carpet throughout the 2nd floor. Master bedroom features recessed lighting, walk in closet, & fully remodeled master bath. Also upstairs are 3 add'l bedrooms & remodeled full bath while located downstairs is a remodeled half bath. The entire house has upgraded light fixtures & boasts beautifully textured ceilings & newer paint. Enjoy this energy efficient home with dual pane windows & a smart Nest thermostat. Park in the 2 car attached garage, in your front driveway, or in your guest parking spot. Located in a prime location nearly equidistant to major freeways: 10, 210 & 605, as well as to nearby shopping & eatery destinations of the San Gabriel Valley including downtown Monrovia. Low HOA dues include homeowners insurance & common grounds maintenance.

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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: Norwood Cherrylee

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $153k622k

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

Neighborhood: Norwood Cherrylee

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21700180019002000210022002300240025002600270028002900Rent in $16122941

* 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
Cherrylee Elementary School Primary Regular 443 19 7
Durfee Elementary School Middle Regular 1,059 42 7
Arroyo High School High Regular 2,301 92 7

Cherrylee Elementary School

  • Education Level: Primary
  • # of students: 443
  • # of teachers: 19
7
GreatSchools Rating

Durfee Elementary School

  • Education Level: Middle
  • # of students: 1,059
  • # of teachers: 42
7
GreatSchools Rating

Arroyo High School

  • Education Level: High
  • # of students: 2,301
  • # of teachers: 92
7
GreatSchools Rating
 

$531,000$649,000$590,000

PURCHASE PRICE

$2,430$2,970$2,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,700
EXPENSES Loan Payment -$2,177
Property Tax -$728
Property Insurance -$67
HOA -$190
Property Management Fees -$132
CASH FLOW
-$594

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$590,000

PROJECTED PRICE

$2,700

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 4.14%
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-$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$162,100

INVESTMENT

$162,100

Down Payment
$147,500
Rehab Estimate
$5,750
Closing Costs
$8,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,177

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $147,500
Loan Amount $442,500
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$5,193

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,700

    LIST RENT
  • $1.65

    LIST RENT PER SQFT
  • $2,707

    COMP ESTIMATED VALUE
  • $1.66

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2003$2,4004$2,5505$2,700
$2,700
RENT COMPS ANALYSIS
  • 11620 Hallwood Drive El Monte, CA 5
    • 4 beds 3 baths ∙ 1,633 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,633 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.65
    •  
  • 12248 Mulhall Street El Monte, CA 1
    • 3 beds 2 baths ∙ 1,289 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,289 Sqft ∙ Built 1975
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.71
    •  
  • 5339 Peck Road El Monte, CA 2
    • 3 beds 3 baths ∙ 1,472 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,472 Sqft ∙ Built 1980
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.49
    •  
  • 5007 Peck Road El Monte, CA 3
    • 3 beds 3 baths ∙ 1,370 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,370 Sqft ∙ Built 1986
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.75
    •  
  • 11918 Deana Street El Monte, CA 4
    • 3 beds 2 baths ∙ 1,519 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,519 Sqft ∙ Built 1987
    LEASED 01/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.68
    •  
PROPERTY LISTING DETAILS
Mia Mcleod
Mcleod & Associates
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR20223780
Last Updated: 10/31/2020
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