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1324 N Birchnell Avenue San Dimas, CA 91773

4 Beds 2 Baths 2,045 sqft Built 1963

$699,800

List Price

$2,860

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $342.20
  • 4 Days on Market
  • MLS # : CV21033863
  • Updated Date : 02/18/2021 at 13:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,045 sqft
  • Baths : 2 full
Listing Agent

Re/max Masters Realty

Listing Agent's Description

RARE OPPORTUNITY IN A HIGHLY SOUGHT AFTER SAN DIMAS NEIGHBORHOOD. Single story home situated on an elevated lot w/grass & mature tree. The concrete walkway leads to a covered front porch & leads into an open entryway that leads to a spacious living room w/carpeted floors & a floor-to-ceiling white painted brick fireplace w/hearth. An adjacent dining room offers chandelier & is open to the kitchen. A family room features exposed beam ceilings, a rock fireplace, sconce lighting & windows w/window seating. There are four spacious bedrooms & two bathrooms, one that is completely remodeled w/tiled flooring, vanity w/quartz countertop & a custom tiled shower w/glass door enclosure. There is a separate laundry room accessible through the side yard that is also connected to the garage. The backyard offers a green lawn & a covered patio. A little TLC will go a long way in this prime neighborhood!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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]
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)

PRICE & RENT TRENDS

Neighborhood: San Dimas

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: San Dimas

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001800200022002400260028003000320034003600Rent in $15463697

* 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
Sutherland Elementary School Primary Regular 575 21 8
Goddard Middle School Middle Regular 915 35 8
Glendora High School High Regular 2,597 91 9

Sutherland Elementary School

  • Education Level: Primary
  • # of students: 575
  • # of teachers: 21
8
GreatSchools Rating

Goddard Middle School

  • Education Level: Middle
  • # of students: 915
  • # of teachers: 35
8
GreatSchools Rating

Glendora High School

  • Education Level: High
  • # of students: 2,597
  • # of teachers: 91
9
GreatSchools Rating
 

$629,820$769,780$699,800

PURCHASE PRICE

$2,574$3,146$2,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,860
EXPENSES Loan Payment -$2,431
Property Tax -$662
Property Insurance -$76
Property Management Fees -$140
CASH FLOW
-$449

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.

$699,800

PROJECTED PRICE

$2,860

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 8.00%
Vacancy 5.05%
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$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$191,197

INVESTMENT

$191,197

Down Payment
$174,950
Rehab Estimate
$5,750
Closing Costs
$10,497

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,431

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $174,950
Loan Amount $524,850
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$16,798

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,860

    LIST RENT
  • $1.4

    LIST RENT PER SQFT
  • $3,093

    COMP ESTIMATED VALUE
  • $1.51

    COMP AVG. RENT PER SQFT
Comps Range
$2,750
1$2,7502$2,7503$2,8604$2,9005$3,175
$3,175
RENT COMPS ANALYSIS
  • 1324 N Birchnell Avenue San Dimas, CA 3
    • 4 beds 2 baths ∙ 2,045 Sqft ∙ Built 1963 4 beds 2 baths ∙ 2,045 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $2,860
    • $1.40
    •  
  • 2036 E Linfield Street Glendora, CA 1
    • 4 beds 1 baths ∙ 1,700 Sqft ∙ Built 1956 4 beds 1 baths ∙ 1,700 Sqft ∙ Built 1956
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.62
    •  
  • 813 Caballo Avenue Glendora, CA 2
    • 3 beds 3 baths ∙ 1,792 Sqft ∙ Built 1962 3 beds 3 baths ∙ 1,792 Sqft ∙ Built 1962
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.53
    •  
  • 2461 W Valewood Street San Dimas, CA 4
    • 4 beds 1 baths ∙ 2,057 Sqft ∙ Built 1962 4 beds 1 baths ∙ 2,057 Sqft ∙ Built 1962
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.41
    •  
  • 621 N Hatfield Avenue San Dimas, CA 5
    • 4 beds 3 baths ∙ 2,132 Sqft ∙ Built 1963 4 beds 3 baths ∙ 2,132 Sqft ∙ Built 1963
    LEASED 10/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,175
    • $1.49
    •  
PROPERTY LISTING DETAILS
Nicholas Abbadessa
Re/max Masters Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21033863
Last Updated: 02/18/2021
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