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12224 Kerrwood Street El Monte, CA 91732

4 Beds 3 Baths 2,352 sqft Built 1990

$650,000

List Price

$3,000

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $276.36
  • 11 Days on Market
  • MLS # : TR21009279
  • Updated Date : 01/22/2021 at 19:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,352 sqft
  • Baths : 2 full , 1 half
Listing Agent

Remax 2000 Realty

Listing Agent's Description

Great location in North El Monte, close to everything, parks, schools, shopping centers, Asian Supermarket, Metro station and Highway I-10 and I-605******Gated community.*****Totally re-carpeted all 4 bedrooms upstairs. Huge master bedrooms with built-in master bath room, 2 closets with one walk-in spacious space and a balcony.*******Downstairs with upgraded tiles floors throughout.****Open floor plan with Huge living room and dining room*****Spacious front yard and back yard.**** Low HOA $100 monthly fee covering common area maintenance, insurance and house fire insurance.......Showings by appointments only. First showings will be Saturday (1/30) 1-5PM.

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MARKET HIGHLIGHTS

  • 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)
  • 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]

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
La Primaria Elementary School Primary Regular 333 12 5
Madrid Middle School Middle Regular 844 38 3
Mountain View High School High Regular 1,477 75 4

La Primaria Elementary School

  • Education Level: Primary
  • # of students: 333
  • # of teachers: 12
5
GreatSchools Rating

Madrid Middle School

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

Mountain View High School

  • Education Level: High
  • # of students: 1,477
  • # of teachers: 75
4
GreatSchools Rating
 

$585,000$715,000$650,000

PURCHASE PRICE

$2,700$3,300$3,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,000
EXPENSES Loan Payment -$2,258
Property Tax -$771
Property Insurance -$84
HOA -$100
Property Management Fees -$147
CASH FLOW
-$360

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.

$650,000

PROJECTED PRICE

$3,000

PROJECTED RENT

0.46%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

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$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,258

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$17,786

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,000

    LIST RENT
  • $1.28

    LIST RENT PER SQFT
  • $3,175

    COMP ESTIMATED VALUE
  • $1.35

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,9003$3,0004$3,200
$3,200
RENT COMPS ANALYSIS
  • 12224 Kerrwood Street El Monte, CA 3
    • 4 beds 3 baths ∙ 2,352 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,352 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.28
    •  
  • 3741 Cogswell Road El Monte, CA 1
    • 4 beds 3 baths ∙ 2,017 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,017 Sqft ∙ Built 1991
    LEASED 12/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.39
    •  
  • 5326 N Peck Road El Monte, CA 2
    • 4 beds 3 baths ∙ 2,177 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,177 Sqft ∙ Built 2006
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.33
    •  
  • 13590 Rexwood Ave Baldwin Park, CA 4
    • 4 beds 4 baths ∙ 2,400 Sqft ∙ Built 1997 4 beds 4 baths ∙ 2,400 Sqft ∙ Built 1997
    LEASED 12/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.33
    •  
PROPERTY LISTING DETAILS
Frank Chen
Remax 2000 Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR21009279
Last Updated: 01/22/2021
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