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1519 E Larkwood Street West Covina, CA 91791

3 Beds 2 Baths 1,263 sqft Built 1953

$641,900

List Price

$2,410

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

February 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $508.23
  • 7 Days on Market
  • MLS # : CV21021468
  • Updated Date : 02/04/2021 at 20:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,263 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Leaders

Listing Agent's Description

Welcome to this gorgeous 3 bedrooms 2 baths home located in the City of West Covina. Galley kitchen with oak cabinets with lights, tile floor, granite countertops, newer stainless steel appliances with 5 years warranty included—gas and wood fireplace in the living room, hardwood floors throughout the house. There is central AC/Heat and so much more. Fresh new interior and exterior paint throughout, most of the windows have been replaced with double pane Milgard. A long brand new driveway, 70 ft, RV parking, attached 2 car garage, with ample storage and parking space. The home sits on a very nice lot boasting 9604 square feet, perfect for entertaining. Spacious Zen backyard with a covered patio with block walls and sprinklers offers a nice private space perfect for entertaining in the summer. There are also many amenities nearby, including parks, schools, restaurants, and the Westfield Mall. Call us to schedule a tour before it's gone. You don't want to miss out on this home ready to move in.

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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: Azusa-Cameron

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $184k856k

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

Neighborhood: Azusa-Cameron

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001800200022002400260028003000320034003600Rent in $15053697

* 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
Cameron Elementary School Primary Regular 481 20 5
Hollencrest Middle School Middle Regular 774 30 7
Edgewood High School High Regular 831 33 7

Cameron Elementary School

  • Education Level: Primary
  • # of students: 481
  • # of teachers: 20
5
GreatSchools Rating

Hollencrest Middle School

  • Education Level: Middle
  • # of students: 774
  • # of teachers: 30
7
GreatSchools Rating

Edgewood High School

  • Education Level: High
  • # of students: 831
  • # of teachers: 33
7
GreatSchools Rating
 

$577,710$706,090$641,900

PURCHASE PRICE

$2,169$2,651$2,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,410
EXPENSES Loan Payment -$2,230
Property Tax -$658
Property Insurance -$58
Property Management Fees -$118
CASH FLOW
-$653

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.

$641,900

PROJECTED PRICE

$2,410

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 5.5%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

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$175,854

INVESTMENT

$175,854

Down Payment
$160,475
Rehab Estimate
$5,750
Closing Costs
$9,629

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,230

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $160,475
Loan Amount $481,425
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$3,908

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,410

    LIST RENT
  • $1.91

    LIST RENT PER SQFT
  • $2,201

    COMP ESTIMATED VALUE
  • $1.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,4003$2,4104$2,5955$2,600
$2,600
RENT COMPS ANALYSIS
  • 1519 E Larkwood Street West Covina, CA 3
    • 3 beds 2 baths ∙ 1,263 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,263 Sqft ∙ Built 1953
    • Rent
    • Rent Per SQFT
    •  
    • $2,410
    • $1.91
    •  
  • 711 S Vanderwell Avenue West Covina, CA 1
    • 3 beds 1 baths ∙ 1,309 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,309 Sqft ∙ Built 1952
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.76
    •  
  • 1041 E Merced Avenue West Covina, CA 2
    • 3 beds 1 baths ∙ 1,362 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,362 Sqft ∙ Built 1953
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.76
    •  
  • 1305 E Larkwood Street West Covina, CA 4
    • 4 beds 3 baths ∙ 1,578 Sqft ∙ Built 1951 4 beds 3 baths ∙ 1,578 Sqft ∙ Built 1951
    LEASED 11/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.64
    •  
  • 411 S Cherrywood Street West Covina, CA 5
    • 3 beds 2 baths ∙ 1,438 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,438 Sqft ∙ Built 1953
    LEASED 09/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.81
    •  
PROPERTY LISTING DETAILS
Irma Arias
Coldwell Banker Leaders
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21021468
Last Updated: 02/04/2021
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