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1166 Oak Knoll Terrace La Verne, CA 91750

3 Beds 2 Baths 2,133 sqft Built 1973

$859,000

List Price

$2,990

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $402.72
  • 3 Days on Market
  • MLS # : AR21015617
  • Updated Date : 02/06/2021 at 10:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,133 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Dynasty Arc.

Listing Agent's Description

Welcome to this exquisite turn-key home in North La Verne. Walk up to impeccably maintained grounds, designed with California native plants and water conservation landscaping. Step inside to find a spacious, bright living room with view of snow cap mountains. The kitchen is ideal for those who love to prepare meals for guests or entertain large gatherings with two ovens, a large gas grill, a built in island, and recessed lighting. Adjacent is a well-designed dining room that looks out to a patio with spectacular views of the valley. This patio is fully equipped with an outdoor built-in bbq, sink, and fire-pit, perfect for hosting parties or simply relaxing with nature’s natural views. Entertain in the family room with built-in surround sound and a fireplace to keep you warm on the cooler SoCal winter nights. In addition to the 3 bedrooms, there are 2 additional rooms, a hobby/play room and an office. Upgrades include full copper plumbing, dual pane windows, indoor laundry, crown moulding throughout, built-in shelving in the office and family room, and solar panels, completely paid for (included in price). This home will not last long because it is unique. From the 360 views of mountains and valleys, to the fruit trees on the property, apricot, apple, avocado, pear, blood orange, and pink grapefruit, to the green energy solar panels, and the conservation minded landscaping, this house combines the best of class, natural beauty, and environmental commitment.

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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: Northwest la Verne

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Northwest la Verne

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $16243697

* 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
Oak Mesa Elementary School Primary Regular 585 23 10
Ramona Middle School Middle Regular 1,406 51 9
Bonita High School High Regular 1,968 74 9

Oak Mesa Elementary School

  • Education Level: Primary
  • # of students: 585
  • # of teachers: 23
10
GreatSchools Rating

Ramona Middle School

  • Education Level: Middle
  • # of students: 1,406
  • # of teachers: 51
9
GreatSchools Rating

Bonita High School

  • Education Level: High
  • # of students: 1,968
  • # of teachers: 74
9
GreatSchools Rating
 

$773,100$944,900$859,000

PURCHASE PRICE

$2,691$3,289$2,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,990
EXPENSES Loan Payment -$2,984
Property Tax -$854
Property Insurance -$79
Property Management Fees -$147
CASH FLOW
-$1,072

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.

$859,000

PROJECTED PRICE

$2,990

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.05%
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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$233,385

INVESTMENT

$233,385

Down Payment
$214,750
Rehab Estimate
$5,750
Closing Costs
$12,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,984

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $214,750
Loan Amount $644,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,106

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,990

    LIST RENT
  • $1.4

    LIST RENT PER SQFT
  • $3,162

    COMP ESTIMATED VALUE
  • $1.48

    COMP AVG. RENT PER SQFT
Comps Range
$2,990
1$2,9902$3,1003$3,1404$3,2005$3,200
$3,200
RENT COMPS ANALYSIS
  • 1166 Oak Knoll Terrace La Verne, CA 1
    • 3 beds 2 baths ∙ 2,133 Sqft ∙ Built 1973 3 beds 2 baths ∙ 2,133 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $2,990
    • $1.40
    •  
  • 6043 Birdie Drive La Verne, CA 2
    • 3 beds 3 baths ∙ 1,949 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,949 Sqft ∙ Built 1986
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.59
    •  
  • 4706 Bunnelle Ave La Verne, CA 3
    • 4 beds 2 baths ∙ 2,123 Sqft ∙ Built 1976 4 beds 2 baths ∙ 2,123 Sqft ∙ Built 1976
    LEASED 08/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,140
    • $1.48
    •  
  • 2226 Virginia Avenue La Verne, CA 4
    • 3 beds 3 baths ∙ 2,251 Sqft ∙ Built 1979 3 beds 3 baths ∙ 2,251 Sqft ∙ Built 1979
    LEASED 02/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.42
    •  
  • 1162 Oak Knoll Ter La Verne, CA 5
    • 4 beds 2 baths ∙ 2,224 Sqft ∙ Built 1973 4 beds 2 baths ∙ 2,224 Sqft ∙ Built 1973
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.44
    •  
PROPERTY LISTING DETAILS
Tawny Ky
Coldwell Banker Dynasty Arc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: AR21015617
Last Updated: 02/06/2021
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