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11656 Rio Hondo Parkway El Monte, CA 91732

3 Beds 2 Baths 1,161 sqft Built 1960

$529,000

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1960
  • Price/Sqft : $455.64
  • 2 Days on Market
  • MLS # : P1-2124
  • Updated Date : 11/02/2020 at 14:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,161 sqft
  • Baths : 1 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Located East of Peck Road on a corner lot in a quaint neighborhood is this charming traditional home offering 3 bedrooms & 2 baths. Built in 1960, this lovingly cared for home is in beautiful condition, ready to move in. Recently painted throughout and with many nice recent updates. Upon entering you are greeted by a well sized living room area with laminate wood-looking flooring that goes throughout the living spaces. Adjacent is a large eating area ideal for family gatherings and entertaining. The open newer kitchen features white shaker cabinets with quartz counter tops. A side door from the kitchen leads to a wonderful covered patio area between the home and garage, making for a special place to dine alfresco, relax or to enjoy the outdoors. Additional features include central air & heat and dual pane windows. The private back yard offers a nice lawn area, fruit trees, including an avocado tree. The two-car garage houses the laundry area and offers space for storage as well. Close by is Peck Road Water Conservation Park, a 5-acre green space on Mungi Lake with fishing and picnic areas, plus trails for biking, hiking and enjoying nature. Don't let this opportunity pass you by, a special place that is ready to be called home!

SEE MORE

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
 

$476,100$581,900$529,000

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,952
Property Tax -$653
Property Insurance -$55
Property Management Fees -$112
CASH FLOW
-$482

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.

$529,000

PROJECTED PRICE

$2,290

PROJECTED RENT

0.43%

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

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$145,935

INVESTMENT

$145,935

Down Payment
$132,250
Rehab Estimate
$5,750
Closing Costs
$7,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,952

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $132,250
Loan Amount $396,750
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$7,396

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $1.97

    LIST RENT PER SQFT
  • $2,302

    COMP ESTIMATED VALUE
  • $1.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2503$2,2904$2,5005$2,700
$2,700
RENT COMPS ANALYSIS
  • 11656 Rio Hondo Parkway El Monte, CA 3
    • 3 beds 2 baths ∙ 1,161 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,161 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $1.97
    •  
  • 11529 Embree Drive El Monte, CA 1
    • 3 beds 1 baths ∙ 1,085 Sqft ∙ Built 1950 3 beds 1 baths ∙ 1,085 Sqft ∙ Built 1950
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $2.03
    •  
  • 11324 Ranchito Street El Monte, CA 2
    • 3 beds 2 baths ∙ 1,171 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,171 Sqft ∙ Built 1962
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.92
    •  
  • 11539 Lower Azusa Road El Monte, CA 4
    • 3 beds 3 baths ∙ 1,290 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,290 Sqft ∙ Built 1980
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.94
    •  
  • 5115 Marshburn Avenue Arcadia, CA 5
    • 3 beds 2 baths ∙ 1,326 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,326 Sqft ∙ Built 1959
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $2.04
    •  
PROPERTY LISTING DETAILS
Nicholas Frias
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: P1-2124
Last Updated: 11/02/2020
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