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11829 Ferris Road #E El Monte, CA 91732

3 Beds 2 Baths 1,063 sqft Built 1980

$399,000

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1980
  • Price/Sqft : $375.35
  • 12 Days on Market
  • MLS # : AR20224418
  • Updated Date : 10/25/2020 at 13:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,063 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Dynasty T.c.

Listing Agent's Description

Beautiful 3 Bed / 2 Bath Condo located in North El Monte. This lovely and cozy home features an open and airy floor plan, welcoming Livingroom overlooking a private patio, spacious kitchen, beautiful wood flooring throughout, central HVAC, 2 huge bathrooms (one on the first level) and 3 over-sized bedrooms with an additional balcony. This home is well-maintained and cared for by the current owner, and a great starter for new families. 2 car parking garage, community pool, and a wide gated driveway. Conveniently located close to shopping, dinning, and school.

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: River East

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $153k622k

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

Neighborhood: River East

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21700180019002000210022002300240025002600270028002900Rent in $16182941

* 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
Baker Elementary School Primary Regular 696 26 4
Madrid Middle School Middle Regular 844 38 3
El Monte High School High Regular 1,869 79 4

Baker Elementary School

  • Education Level: Primary
  • # of students: 696
  • # of teachers: 26
4
GreatSchools Rating

Madrid Middle School

  • Education Level: Middle
  • # of students: 844
  • # of teachers: 38
3
GreatSchools Rating

El Monte High School

  • Education Level: High
  • # of students: 1,869
  • # of teachers: 79
4
GreatSchools Rating
 

$359,100$438,900$399,000

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,472
Property Tax -$473
Property Insurance -$53
HOA -$220
Property Management Fees -$99
CASH FLOW
-$407

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.

$399,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 6.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,472

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$3,178

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $1.8

    LIST RENT PER SQFT
  • $1,903

    COMP ESTIMATED VALUE
  • $1.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,910
1$1,9102$2,2003$2,2004$2,2005$2,500
$2,500
RENT COMPS ANALYSIS
  • 11829 Ferris Road El Monte, CA 1
    • 3 beds 2 baths ∙ 1,063 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,063 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $1.80
    •  
  • 4845 Standell Avenue El Monte, CA 2
    • 3 beds 1 baths ∙ 1,220 Sqft ∙ Built 1961 3 beds 1 baths ∙ 1,220 Sqft ∙ Built 1961
    property image
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.80
    •  
  • 12170 Sitka Street El Monte, CA 3
    • 3 beds 2 baths ∙ 1,226 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,226 Sqft ∙ Built 1988
    property image
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.79
    •  
  • 11630 Basye Street El Monte, CA 4
    • 3 beds 2 baths ∙ 1,228 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,228 Sqft ∙ Built 1962
    property image
    LEASED 10/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.79
    •  
  • 3627 Meadowlark Street El Monte, CA 5
    • 3 beds 3 baths ∙ 1,408 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,408 Sqft ∙ Built 1987
    property image
    LEASED 07/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.78
    •  
PROPERTY LISTING DETAILS
Danny Hy
Coldwell Banker Dynasty T.c.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: AR20224418
Last Updated: 10/25/2020
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