Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1319 E Louisa Avenue West Covina, CA 91790

3 Beds 2 Baths 1,199 sqft Built 1954

$575,000

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $479.57
  • 3 Days on Market
  • MLS # : CV20242559
  • Updated Date : 11/21/2020 at 10:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,199 sqft
  • Baths : 2 full
Listing Agent

Pacific Sotheby's Int'l Realty

Listing Agent's Description

First time on the market in nearly 40 years, this home is located within the coveted Covina Valley School District in the City of West Covina. This three bedroom, two bathroom home was refreshed just a few years ago and has a nice, bright floor plan with tons of windows and a huge yard with a covered patio! Quartz counters were installed in bathrooms along with custom cabinet doors, new toilets, sinks, faucets, and lighting. The living room and entry hardwood floors were sanded and stained, carpet installed in the bedrooms/hallway, and vinyl in the kitchen and bathrooms. Outlets and light switches were replaced throughout the house and ceiling fans installed in all of the bedrooms and the living room. A new water heater was installed and the main water line to the house from the street was replaced. This home offers central AC and heat and there's a wood-burning fireplace with a gas starter in the living room to keep you comfortable no matter what the weather outside. This home has been well maintained throughout the years and is move-in ready!!

SEE MORE

MARKET HIGHLIGHTS

  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: Freeway Corridor

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $178k622k

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

Neighborhood: Freeway Corridor

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14672941

* 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
Grovecenter Elementary School Primary Regular 489 22 7
Traweek Middle School Middle Regular 849 33 5
Covina High School High Regular 1,337 52 6

Grovecenter Elementary School

  • Education Level: Primary
  • # of students: 489
  • # of teachers: 22
7
GreatSchools Rating

Traweek Middle School

  • Education Level: Middle
  • # of students: 849
  • # of teachers: 33
5
GreatSchools Rating

Covina High School

  • Education Level: High
  • # of students: 1,337
  • # of teachers: 52
6
GreatSchools Rating
 

$517,500$632,500$575,000

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$2,122
Property Tax -$606
Property Insurance -$56
Property Management Fees -$101
CASH FLOW
-$815

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.

$575,000

PROJECTED PRICE

$2,070

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 7.3%
Maintenance Year (1-5) 8.00%
Vacancy 4.69%
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$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

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$158,125

INVESTMENT

$158,125

Down Payment
$143,750
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,122

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$376

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $1.73

    LIST RENT PER SQFT
  • $2,053

    COMP ESTIMATED VALUE
  • $1.71

    COMP AVG. RENT PER SQFT
Comps Range
$2,070
1$2,0702$2,3003$2,4004$2,5005$2,500
$2,500
RENT COMPS ANALYSIS
  • 1319 E Louisa Avenue West Covina, CA 1
    • 3 beds 2 baths ∙ 1,199 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,199 Sqft ∙ Built 1954
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $1.73
    •  
  • 16631 E Masline Street Covina, CA 2
    • 3 beds 1 baths ∙ 1,300 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,300 Sqft ∙ Built 1955
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.77
    •  
  • 724 N Elspeth Way Covina, CA 3
    • 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1953
    LEASED 09/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.61
    •  
  • 405 W Dexter Street Covina, CA 4
    • 3 beds 1 baths ∙ 1,460 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,460 Sqft ∙ Built 1954
    LEASED 11/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.71
    •  
  • 725 N Neil Street West Covina, CA 5
    • 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1954
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.76
    •  
PROPERTY LISTING DETAILS
Doug Echelberger
Pacific Sotheby's Int'l Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20242559
Last Updated: 11/21/2020
BESbswy