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PROPERTY INFO
FACTS
- Single Family
- Built In 2003
- Price/Sqft : $389.14
- 5 Days on Market
- MLS # : CV20246771
- Updated Date : 11/27/2020 at 16:14
CONSTRUCTION
- Beds : 3
- Floor Size : 1,786 sqft
- Baths : 2 full , 1 half
Listing Agent
Sauder Real Estate
Listing Agent's Description
Welcome To Your Future Home. This Spacious Family Home Will Meet All Your Home Desires. It Offers a Lovely Entry With Large Livingroom, Family Room Open To The Remodeled Kitchen With Custom Maple Wood Cabinetry (Pull Out Shelving), Gas Stove, Built In Microwave, Upstairs Offers 3 Bedrooms, 2 Full Bathrooms, The Master Bathroom Has 2 Sink Vanity And Access To Walk-in Closet, Downstairs Offers Access To Two Car Garage, Laundry Area And Half Bathroom. The Outside Is Spacious In Size With Plenty Of Parking Space, Room For An RV, Wrought Iron Gates To The Backyard Is Great For Entertaining, Stamped Concrete Patio With 2 Brackets Installed For Building Of A Patio Covering/Pergola, Peaceful Water Fountain, 2 Blooming Plumerias, Tiled Roof, Newer Build, Original Owners.
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MARKET HIGHLIGHTS
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Vincent
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Vincent
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,530 |
| EXPENSES | Loan Payment | -$2,564 |
| Property Tax | -$762 | |
| Property Insurance | -$70 | |
| Property Management Fees | -$124 | |
|
CASH FLOW
-$990
|
||
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.
$695,000
PROJECTED PRICE
$2,530
PROJECTED RENT
0.36%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.35% |
| Appreciation Year (1-5) | 8.5% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.14% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$189,925
LOAN DETAILS
$2,564
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $173,750 |
| Loan Amount | $521,250 |
0.33
YEARS SAVED
$564
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,530
LIST RENT -
$1.42
LIST RENT PER SQFT
-
$2,576
COMP ESTIMATED VALUE -
$1.44
COMP AVG. RENT PER SQFT
Comps Range
-
16120 E Cypress Street Covina, CA 1
- 3 beds 3 baths ∙ 1,786 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,786 Sqft ∙ Built 2003
- Rent
- Rent Per SQFT
- $2,530
- $1.42
-
1803 David Court West Covina, CA 2
- 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 2005
LEASED 02/07/20- Rent
- Rent Per SQFT
- $2,698
- $1.50
-
1802 W Kenoak Drive West Covina, CA 3
- 4 beds 3 baths ∙ 1,938 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,938 Sqft ∙ Built 2005
LEASED 02/02/20- Rent
- Rent Per SQFT
- $2,750
- $1.42
-
15007 Nubia Street Baldwin Park, CA 4
- 4 beds 2 baths ∙ 1,930 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,930 Sqft ∙ Built 2006
LEASED 06/11/20- Rent
- Rent Per SQFT
- $2,800
- $1.45
-
1810 W Kenoak Drive West Covina, CA 5
- 4 beds 3 baths ∙ 2,042 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,042 Sqft ∙ Built 2005
LEASED 10/08/20- Rent
- Rent Per SQFT
- $2,850
- $1.40
PROPERTY LISTING DETAILS
Sauder Real Estate
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV20246771
Last Updated: 11/27/2020
