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16120 E Cypress Street Covina, CA 91722

3 Beds 3 Baths 1,786 sqft Built 2003

$695,000

List Price

$2,530

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 25, 2020 RECENTLY ADDED
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.

SEE MORE

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

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $153k622k

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

Neighborhood: Vincent

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13822941

* 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
Merwin Elementary School Primary Regular 417 18 6
Las Palmas Middle School Middle Regular 870 35 4
Northview High School High Regular 1,346 54 6

Merwin Elementary School

  • Education Level: Primary
  • # of students: 417
  • # of teachers: 18
6
GreatSchools Rating

Las Palmas Middle School

  • Education Level: Middle
  • # of students: 870
  • # of teachers: 35
4
GreatSchools Rating

Northview High School

  • Education Level: High
  • # of students: 1,346
  • # of teachers: 54
6
GreatSchools Rating
 

$625,500$764,500$695,000

PURCHASE PRICE

$2,277$2,783$2,530

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$500k$1.0M$1.5M$2.0M

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$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$189,925

INVESTMENT

$189,925

Down Payment
$173,750
Rehab Estimate
$5,750
Closing Costs
$10,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,564

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $173,750
Loan Amount $521,250
See What Happens When You Reinvest Cash Flow

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
$2,530
1$2,5302$2,6983$2,7504$2,8005$2,850
$2,850
RENT COMPS ANALYSIS
  • 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
Rebeca Gallegos
Sauder Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20246771
Last Updated: 11/27/2020
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