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13116 Fairgrove Avenue Baldwin Park, CA 91706

5 Beds 2 Baths 1,797 sqft Built 1978

$610,000

List Price

$2,630

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1978
  • Price/Sqft : $339.45
  • 7 Days on Market
  • MLS # : PW20227710
  • Updated Date : 11/01/2020 at 13:37
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,797 sqft
  • Baths : 2 full
Listing Agent

Np Realty

Listing Agent's Description

Welcome to your new home where form meets function. The open floorplan is bright and modern with a seamless flow from the large living room into the dining area and kitchen. Here, the home chef is treated to gas cooking, plenty of storage and sweeping granite countertops that include a server window into the living room. There are five bedrooms, four set along one side of the home along with the two full bathrooms and the owner’s suite with access to an ensuite bath. The fifth bedroom is set on the other side of the home with a closet and a double door entry that makes this a great office for those who work from home. An attached two-car garage completes the layout while extra features include a new water heater (2015) and a water softener system. Beautiful fruit trees including dragon fruit are dotted throughout the backyard and there is a large patio where you can relax and soak up the sunshine.

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: Baldwin Park

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $147k622k

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

Neighborhood: Baldwin Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13662941

* 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
Tracy Elementary School Primary Regular 793 32 4
Sierra Vista Junior High School Middle Regular 766 29 5
Sierra Vista High School High Regular 2,026 84 5

Tracy Elementary School

  • Education Level: Primary
  • # of students: 793
  • # of teachers: 32
4
GreatSchools Rating

Sierra Vista Junior High School

  • Education Level: Middle
  • # of students: 766
  • # of teachers: 29
5
GreatSchools Rating

Sierra Vista High School

  • Education Level: High
  • # of students: 2,026
  • # of teachers: 84
5
GreatSchools Rating
 

$549,000$671,000$610,000

PURCHASE PRICE

$2,367$2,893$2,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,630
EXPENSES Loan Payment -$2,251
Property Tax -$671
Property Insurance -$71
Property Management Fees -$129
CASH FLOW
-$491

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.

$610,000

PROJECTED PRICE

$2,630

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 8.0%
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$167,400

INVESTMENT

$167,400

Down Payment
$152,500
Rehab Estimate
$5,750
Closing Costs
$9,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,251

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $152,500
Loan Amount $457,500
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$12,520

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,630

    LIST RENT
  • $1.46

    LIST RENT PER SQFT
  • $2,881

    COMP ESTIMATED VALUE
  • $1.6

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,6303$2,6504$2,700
$2,700
RENT COMPS ANALYSIS
  • 13116 Fairgrove Avenue Baldwin Park, CA 2
    • 5 beds 2 baths ∙ 1,797 Sqft ∙ Built 1978 5 beds 2 baths ∙ 1,797 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $2,630
    • $1.46
    •  
  • 3480 Whistler Avenue El Monte, CA 1
    • 4 beds 3 baths ∙ 1,672 Sqft ∙ Built 1993 4 beds 3 baths ∙ 1,672 Sqft ∙ Built 1993
    LEASED 05/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.56
    •  
  • 3451 Big Dalton Avenue Baldwin Park, CA 3
    • 4 beds 3 baths ∙ 1,794 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,794 Sqft ∙ Built 1988
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.48
    •  
  • 3134 Vineland Baldwin Park, CA 4
    • 4 beds 3 baths ∙ 1,527 Sqft ∙ Built 1992 4 beds 3 baths ∙ 1,527 Sqft ∙ Built 1992
    LEASED 05/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.77
    •  
PROPERTY LISTING DETAILS
Baotuan Nguyenphuoc
Np Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20227710
Last Updated: 11/01/2020
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