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1535 S Mayland Avenue West Covina, CA 91790

3 Beds 2 Baths 1,504 sqft Built 1955

$679,900

List Price

$2,510

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $452.06
  • 4 Days on Market
  • MLS # : CV21008497
  • Updated Date : 01/14/2021 at 12:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,504 sqft
  • Baths : 2 full
Listing Agent

Vanguard Real Estate

Listing Agent's Description

Don't miss out on this incredible opportunity to own this gorgeous TURNKEY home in West Covina . Featuring fresh NEW interior and exterior paint, NEW light fixtures throughout and recessed lighting in the kitchen, dining area and bathrooms. NEW flooring, NEW baseboards throughout, dual pane windows! All the interior and exterior doors have also been replaced. Kitchen features NEW white shaker cabinets, new stainless steel appliances and NEW quartz counters!!! Both freshly refinished bathrooms have NEW vanities, all new fixtures and tile . This home sits on a very nice size lot at the end of a Cul-De-Sac. Home offers a 2 car detached garage and space for an RV . Close to parks, schools, shopping. This home is move in ready !

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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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Sunset

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $172k622k

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

Neighborhood: Sunset

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14442941

* 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
Foster Elementary School Primary Regular 703 32 5
Foster Elementary School Middle Regular 703 32 5
Baldwin Park High School High Regular 1,979 79 6

Foster Elementary School

  • Education Level: Primary
  • # of students: 703
  • # of teachers: 32
5
GreatSchools Rating

Foster Elementary School

  • Education Level: Middle
  • # of students: 703
  • # of teachers: 32
5
GreatSchools Rating

Baldwin Park High School

  • Education Level: High
  • # of students: 1,979
  • # of teachers: 79
6
GreatSchools Rating
 

$611,910$747,890$679,900

PURCHASE PRICE

$2,259$2,761$2,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,510
EXPENSES Loan Payment -$2,362
Property Tax -$714
Property Insurance -$63
Property Management Fees -$123
CASH FLOW
-$752

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.

$679,900

PROJECTED PRICE

$2,510

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 5.2%
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$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$185,924

INVESTMENT

$185,924

Down Payment
$169,975
Rehab Estimate
$5,750
Closing Costs
$10,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,362

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $169,975
Loan Amount $509,925
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$2,699

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,510

    LIST RENT
  • $1.67

    LIST RENT PER SQFT
  • $2,500

    COMP ESTIMATED VALUE
  • $1.66

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,5003$2,5104$2,5805$2,800
$2,800
RENT COMPS ANALYSIS
  • 1535 S Mayland Avenue West Covina, CA 3
    • 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $2,510
    • $1.67
    •  
  • 1901 W Devers Street West Covina, CA 1
    • 3 beds 1 baths ∙ 1,402 Sqft ∙ Built 1960 3 beds 1 baths ∙ 1,402 Sqft ∙ Built 1960
    LEASED 09/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.71
    •  
  • 1817 W Doublegrove Street West Covina, CA 2
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1955
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.65
    •  
  • 14835 Clydewood Street Baldwin Park, CA 4
    • 3 beds 2 baths ∙ 1,529 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,529 Sqft ∙ Built 1949
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,580
    • $1.69
    •  
  • 1334 Ardilla Avenue La Puente, CA 5
    • 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1956
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.60
    •  
PROPERTY LISTING DETAILS
Sal Ramos
Vanguard Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21008497
Last Updated: 01/14/2021
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