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1609 Valcarlos Avenue Rowland Heights, CA 91748

3 Beds 2 Baths 1,472 sqft Built 1954

$568,000

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
SINGLE-FAMILY
February 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $385.87
  • 6 Days on Market
  • MLS # : PW21037517
  • Updated Date : 02/23/2021 at 11:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,472 sqft
  • Baths : 2 full
Listing Agent

Jones Lim, Broker

Listing Agent's Description

Property located in a very good location. Walking distance to shopping and dining. Easy access to major streets and freeway. Property Sold As-Is in present condition.

SEE MORE

MARKET HIGHLIGHTS

  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
  • 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 has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (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)
  • 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]
  • 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: Rowland Heights

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650kPrice in $187k690k

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

Neighborhood: Rowland Heights

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001700180019002000210022002300240025002600270028002900Rent in $15582941

* 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
Alvarado Intermediate School Middle Regular 750 30 7
John A. Rowland High School High Regular 2,329 87 8

Alvarado Intermediate School

  • Education Level: Middle
  • # of students: 750
  • # of teachers: 30
7
GreatSchools Rating

John A. Rowland High School

  • Education Level: High
  • # of students: 2,329
  • # of teachers: 87
8
GreatSchools Rating
 

$511,200$624,800$568,000

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$1,973
Property Tax -$602
Property Insurance -$63
Property Management Fees -$117
CASH FLOW
-$365

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.

$568,000

PROJECTED PRICE

$2,390

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 5.0%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$156,270

INVESTMENT

$156,270

Down Payment
$142,000
Rehab Estimate
$5,750
Closing Costs
$8,520

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,973

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $142,000
Loan Amount $426,000
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$13,164

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $1.62

    LIST RENT PER SQFT
  • $2,558

    COMP ESTIMATED VALUE
  • $1.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3903$2,5504$2,6005$2,850
$2,850
RENT COMPS ANALYSIS
  • 1609 Valcarlos Avenue Rowland Heights, CA 2
    • 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1954
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $1.62
    •  
  • 1601 Greencastle Avenue Rowland Heights, CA 1
    • 4 beds 2 baths ∙ 1,439 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,439 Sqft ∙ Built 1964
    property image
    LEASED 02/17/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.60
    •  
  • 18646 Trot Rowland Heights, CA 3
    • 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 1974
    property image
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.73
    •  
  • 18314 Companario Drive Rowland Heights, CA 4
    • 3 beds 2 baths ∙ 1,406 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,406 Sqft ∙ Built 1958
    property image
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.85
    •  
  • 1512 Abelian Avenue Rowland Heights, CA 5
    • 4 beds 2 baths ∙ 1,612 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,612 Sqft ∙ Built 1965
    property image
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.77
    •  
PROPERTY LISTING DETAILS
Jones Lim
Jones Lim, Broker
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21037517
Last Updated: 02/23/2021
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