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PROPERTY INFO
FACTS
- Single Family
- Built In 1956
- Price/Sqft : $354.30
- 6 Days on Market
- MLS # : SW21022316
- Updated Date : 02/06/2021 at 20:24
CONSTRUCTION
- Beds : 3
- Floor Size : 2,114 sqft
- Baths : 3 full
Listing Agent
Big Block Realty
Listing Agent's Description
Imagine for a moment a home in the city that showcases much of it's original charm but has been beautifully upgraded and added on to through out the years. That's exactly what you will find here. This stunning pool home is situated on a nearly 14,000 sq ft lot. The home itself offers two beautiful master bedrooms with their own private full baths. Additionally you will find a spacious bedroom and a beautifully updated office that opens up to the massive great room. Upgrades include an open concept layout, huge galley style kitchen that is complete with granite counters and S/S appliances. The kitchen offers a kitchen nook and a buffet style bar that opens to the great room. Enjoy cozy evenings around your beautiful stone fireplace with raised hearth. The home has updated dual pane windows through out. Newly added ceiling fans, fresh paint, new lighting and so much more! Step in to your backyard and enjoy a relaxing evening on the covered patio which includes a flat screen TV & speakers. Get ready to have some fun in your expansive backyard. Did I mention sparkling pool and spa?! Long private driveway leads to the 2 car detached garage. If this home checks many of your boxes, make sure to schedule your showing right away!
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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: Sunset
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Sunset
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,950 |
| EXPENSES | Loan Payment | -$2,602 |
| Property Tax | -$767 | |
| Property Insurance | -$78 | |
| Property Management Fees | -$145 | |
|
CASH FLOW
-$642
|
||
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.
$749,000
PROJECTED PRICE
$2,950
PROJECTED RENT
0.39%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.48% |
| Appreciation Year (1-5) | 5.2% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.69% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$204,235
LOAN DETAILS
$2,602
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $187,250 |
| Loan Amount | $561,750 |
1.92
YEARS SAVED
$9,199
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,950
LIST RENT -
$1.4
LIST RENT PER SQFT
-
$2,938
COMP ESTIMATED VALUE -
$1.39
COMP AVG. RENT PER SQFT
Comps Range
-
1218 S Willow Avenue West Covina, CA 4
- 3 beds 3 baths ∙ 2,114 Sqft ∙ Built 1956 3 beds 3 baths ∙ 2,114 Sqft ∙ Built 1956
- Rent
- Rent Per SQFT
- $2,950
- $1.40
-
1626 W Chetney Drive West Covina, CA 1
- 3 beds 2 baths ∙ 2,020 Sqft ∙ Built 1953 3 beds 2 baths ∙ 2,020 Sqft ∙ Built 1953
LEASED 09/09/19- Rent
- Rent Per SQFT
- $2,500
- $1.24
-
4136 N Foxdale Avenue Covina, CA 2
- 3 beds 2 baths ∙ 1,813 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,813 Sqft ∙ Built 1950
LEASED 10/26/19- Rent
- Rent Per SQFT
- $2,600
- $1.43
-
815 Greenberry Dr La Puente, CA 3
- 4 beds 2 baths ∙ 1,806 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,806 Sqft ∙ Built 1960
LEASED 12/26/19- Rent
- Rent Per SQFT
- $2,700
- $1.50
PROPERTY LISTING DETAILS
Big Block Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SW21022316
Last Updated: 02/06/2021
