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14550 Fairgrove Avenue La Puente, CA 91744

3 Beds 2 Baths 1,485 sqft Built 1958

$580,000

List Price

$2,460

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1958
  • Price/Sqft : $390.57
  • 3 Days on Market
  • MLS # : CV21050857
  • Updated Date : 03/12/2021 at 12:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,485 sqft
  • Baths : 2 full
Listing Agent

So Cal Realty & Loans

Listing Agent's Description

Great family home in excellent area of La Puente! Right down the street from Bishop Amat High School, walk there. House offers 3 bedrooms and 2 full baths, large family room for entertaining with a fireplace. Laminate and tile floors throughout this beautiful home. You'll be right between the 60 and 10 freeways, very convenient. Close to shopping and eating, and plenty of parking. AC is about 5 years old!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: West Puente Valley

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $143k622k

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

Neighborhood: West Puente Valley

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13252941

* 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
Sparks Middle School Middle Regular 476 22 5
La Puente High School High Regular 1,403 54 6

Sparks Middle School

  • Education Level: Middle
  • # of students: 476
  • # of teachers: 22
5
GreatSchools Rating

La Puente High School

  • Education Level: High
  • # of students: 1,403
  • # of teachers: 54
6
GreatSchools Rating
 

$522,000$638,000$580,000

PURCHASE PRICE

$2,214$2,706$2,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,460
EXPENSES Loan Payment -$2,015
Property Tax -$621
Property Insurance -$63
Property Management Fees -$121
CASH FLOW
-$359

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.

$580,000

PROJECTED PRICE

$2,460

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 7.9%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

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$159,450

INVESTMENT

$159,450

Down Payment
$145,000
Rehab Estimate
$5,750
Closing Costs
$8,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,015

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $145,000
Loan Amount $435,000
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$14,379

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,460

    LIST RENT
  • $1.66

    LIST RENT PER SQFT
  • $2,662

    COMP ESTIMATED VALUE
  • $1.79

    COMP AVG. RENT PER SQFT
Comps Range
$2,460
1$2,4602$2,5003$2,5004$2,6755$2,700
$2,700
RENT COMPS ANALYSIS
  • 14550 Fairgrove Avenue La Puente, CA 1
    • 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1958
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,460
    • $1.66
    •  
  • 1466 S Conlon Avenue West Covina, CA 2
    • 4 beds 2 baths ∙ 1,377 Sqft ∙ Built 1959 4 beds 2 baths ∙ 1,377 Sqft ∙ Built 1959
    property image
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.82
    •  
  • 730 Cabana Avenue La Puente, CA 3
    • 3 beds 2 baths ∙ 1,309 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,309 Sqft ∙ Built 1956
    property image
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.91
    •  
  • 1327 W Randall Way West Covina, CA 4
    • 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 1959
    property image
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,675
    • $1.75
    •  
  • 721 Broadmoor Avenue La Puente, CA 5
    • 4 beds 3 baths ∙ 1,600 Sqft ∙ Built 1959 4 beds 3 baths ∙ 1,600 Sqft ∙ Built 1959
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.69
    •  
PROPERTY LISTING DETAILS
Alfonso Vasquez
So Cal Realty & Loans
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21050857
Last Updated: 03/12/2021
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